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BODAL CHEMICALS LTD (BODALCHEM)

Process Industries · Chemicals: Specialty · figures to Nov '26

Price #1
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.49 / 100
Profitability 34Growth 78Balance sheet 34
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.64 / 100
Price 100Earnings 65FII/DII 28

Passes these screensCash RichHigh MomentumInstitutions in, retail out

Compare withLINDE INDIACOROMANDEL INTERNATIONAL LIMITGUJARAT FLUOROCHEMICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹161.27 latest close · +156.6% over the last 90 sessions

₹50₹100₹150₹200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹50₹100₹150₹200Jul 3Sep 4Nov 9

₹161.27 month-end · +197.9% over 12 months

₹50₹100₹150₹200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹50₹100₹150₹200Nov '25May '26Nov '26

₹161.27 month-end · +118.4% over 3 years

₹50₹100₹150₹200Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹50₹100₹150₹200Nov '23May '25Nov '26

₹161.27 month-end · +51.2% since Jan '19

₹50₹100₹150₹200Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹50₹100₹150₹200Jan '19Dec '22Nov '26

52-week range ₹42.81 to ₹207.70 · 1-year volatility 56.0%

Was the rally earned?

+198%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 155 points to the rise, while the multiple moved less (P/E 23.3x to 29.5x).
  • The share count barely moved.
Net profit growth: +157 pts. Points of the price return explained by net profit growing (or shrinking).+157 ptsNet profit growthP/E change: +43 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+43 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +198%+198%Share priceNet profit growth: +157 pts. Points of the price return explained by net profit growing (or shrinking).+157ProfitP/E change: +43 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+43P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +198%+198%Share price
Net profit growth+157 ptsNet profit rose about 137%, which lifts the price.
P/E change+43 ptsThe P/E rose from 23.3x to 29.5x, which lifts the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+118%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 89 points to the rise, while the multiple moved less (P/E 24.4x to 29.5x).
  • The share count barely moved.
Net profit growth: +90 pts. Points of the price return explained by net profit growing (or shrinking).+90 ptsNet profit growthP/E change: +29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+29 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +118%+118%Share priceNet profit growth: +90 pts. Points of the price return explained by net profit growing (or shrinking).+90ProfitP/E change: +29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+29P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +118%+118%Share price
Net profit growth+90 ptsNet profit rose about 81%, which lifts the price.
P/E change+29 ptsThe P/E rose from 24.4x to 29.5x, which lifts the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+50%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 57 points, but investors now pay less per rupee of profit (P/E 31.4x to 29.5x), which took 7 points back.
  • The share count rose 8%.
Net profit growth: +67 pts. Points of the price return explained by net profit growing (or shrinking).+67 ptsNet profit growthP/E change: −7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−7 ptsP/E changeShare count change: −10 pts. Points of the price return explained by the share count changing. More shares count against the price.−10 ptsShare count changeShare price: +50%+50%Share priceNet profit growth: +67 pts. Points of the price return explained by net profit growing (or shrinking).+67ProfitP/E change: −7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−7P/EShare count change: −10 pts. Points of the price return explained by the share count changing. More shares count against the price.−10SharesShare price: +50%+50%Share price
Net profit growth+67 ptsNet profit rose about 72%, which lifts the price.
P/E change-7 ptsThe P/E fell from 31.4x to 29.5x, which lowers the price.
Share count change-10 ptsShare count rose 8%, which lowers the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with LINDE INDIA

How rough has the ride been?

Maximum drawdown-71.3%recovered 2021-10
1-year volatility56.0%annualised
Beta vs sector index1.313-year daily, correlation 0.48
Volume spikes23last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−70.5% 0%−20%−40%−60%2020202220242026−70.5%
Largest drawdowns

-71.3% (2019-04 peak to 2020-03 low, recovered 2021-10)

-70.5% (2021-10 peak to 2026-03 low, recovered 2026-09)

-33.0% (2026-09 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-09-24: 5x the 50-day median, price -2.2% that day

2026-09-22: 7x the 50-day median, price -2.4% that day

2026-09-21: 9.4x the 50-day median, price +3.4% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

29.5xP/E todayWithin its usual range
Against its own history71st percentile
CheapestMedian 23.3xDearest

Usual range 6.7x to 142.9x since 2019-01.

Against Process Industries29.5x vs 18.1x
This company
29.5x
Sector median
18.1x

63% above the Process Industries median.

3.6x174.8x346.0x517.1xJan '19Aug '20Mar '22Oct '23May '25Nov '263.6x174.8x346.0x517.1xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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P/B (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE26th▲ 3 pts vs a year ago
  • Op. margin43rd▼ 7 pts vs a year ago
  • Revenue growth85th▲ 8 pts vs a year ago
  • EPS growth92nd▼ 7 pts vs a year ago
  • Debt/equity ↓29th▲ 5 pts vs a year ago
  • Cash cycle ↓52nd▲ 12 pts vs a year ago
  • P/E ↓29th▼ 17 pts vs a year ago
  • 12M momentum100th▲ 59 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~26%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 48.1x, a holder earning 12%/yr needs earnings to grow about 25.8%/yr for 10 years, then trade at 15x.

Delivered−22.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+48.2 ptsimplied minus delivered
Rank14thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

-23%3%29% Jan 2019Nov 2026 -23%3%29% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x27.5%28.7%29.8%
15x24.7%25.8%27.0%
20x21.2%22.3%23.4%

Drag a slider to test other assumptions

Implied: 25.8%/yr

Looking back

  • Jan 2020Price implied 4%/yr; EPS has since grown −15%/yr (7.0 yrs)
  • Jan 2021Price implied 4%/yr; EPS has since grown −10%/yr (6.0 yrs)
  • Jan 2022Price implied 9%/yr; EPS has since grown 3%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹161.27
P/E
29.5x
ROCE
6.0%
Market Cap
₹2034 cr
Revenue (TTM)
₹2267 cr
P/S
0.9x
P/B
1.8x
ROE
6.0%
Operating Margin
10.0%
Debt / Equity
0.7x
Promoter Holding
57.0%
12M Momentum
197.9%

52-week range

₹42.81₹207.70
72% of the way from its 52-week low to its high

Price risk

1Y volatility
56.0%
Beta vs sector
1-year daily
0.99

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
5.00x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 7checks within range1 beyond a threshold
Other income reliance54%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 54.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate6%Near threshold

Median quarterly effective tax rate over about 2.5 years: 5.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion6.86xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 6.86x (cash from operations ₹494 cr, net profit ₹72 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-17 daysWithin range

Debtor days are below the median of the previous three fiscal years by 17 days (80 vs 97). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress5% of fixed assetsWithin range

Capital work-in-progress is 5% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-21 days / 2 yrsWithin range

Days payable changed by -21 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders fell from 76,867 to 67,902 (-12%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters57.4%57.0%-0.4 pts
FIIs0.3%0.0%-0.3 pts
DIIs0.0%0.0%0.0 pts
Public and others42.3%43.0%+0.7 pts

Number of shareholders

67,902shareholders-12% since Dec '23
68k72k77k81k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 76,867
Mar '24: 77,332
Jun '24: 77,495
Sep '24: 81,420
Dec '24: 78,831
Mar '25: 78,163
Jun '25: 75,023
Sep '25: 74,649
Dec '25: 73,083
Mar '26: 70,465
Jun '26: 67,902
 68k72k77k81k Dec '23Dec '24Dec '25Jun '26
Dec '23: 76,867
Mar '24: 77,332
Jun '24: 77,495
Sep '24: 81,420
Dec '24: 78,831
Mar '25: 78,163
Jun '25: 75,023
Sep '25: 74,649
Dec '25: 73,083
Mar '26: 70,465
Jun '26: 67,902

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+12.7%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like BODAL CHEMICALS LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −27% to +59% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+17.0%, 80% range −0.3% to +29.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SALZERELEC · Jan 2025: −56.5% vs market
ABCIND · Jul 2025: −54.4% vs market
ELECTCAST · Apr 2024: −50.5% vs market
EPACK · Mar 2025: −44.8% vs market
MANINDS · Feb 2024: −43.4% vs market
DCAL · Sep 2025: −43.2% vs market
LAGNAM · Mar 2022: −40.5% vs market
STERTOOLS · Apr 2023: −40.0% vs market
PARAGMILK · Feb 2024: −38.1% vs market
SPMLINFRA · Dec 2024: −34.3% vs market
PATELENG · Feb 2024: −33.3% vs market
KANORICHEM · Jul 2021: −31.7% vs market
AJMERA · Sep 2021: −29.0% vs market
ASHAPURMIN · Dec 2023: −21.3% vs market
RAMAPHO · Aug 2025: −19.5% vs market
NAHARSPING · Aug 2021: −17.2% vs market
RPOWER · Jan 2022: −13.3% vs market
ACCURACY · Jan 2022: −10.3% vs market
RAYMOND · Dec 2022: −7.7% vs market
AYMSYNTEX · May 2025: −3.4% vs market
ARTEMISMED · Jun 2023: −3.3% vs market
MANAKCOAT · Oct 2025: −2.8% vs market
NECCLTD · Jul 2020: −1.8% vs market
JINDALSAW · Nov 2023: +2.6% vs market
PITTIENG · Apr 2022: +10.3% vs market
UNIVCABLES · May 2023: +15.2% vs market
GPTINFRA · May 2024: +16.3% vs market
TCPLPACK · Dec 2022: +16.7% vs market
KANPRPLA · Aug 2025: +25.4% vs market
PENIND · Mar 2023: +26.2% vs market
STEELXIND · Sep 2020: +28.2% vs market
FORCEMOT · May 2024: +37.8% vs market
HUBTOWN · Mar 2024: +38.4% vs market
RICOAUTO · Mar 2023: +45.2% vs market
SKIPPER · Jun 2023: +45.5% vs market
LOKESHMACH · Jun 2023: +50.1% vs market
PASHUPATI · Aug 2024: +51.9% vs market
KAPSTON · Feb 2025: +60.8% vs market
GALLANTT · May 2024: +67.1% vs market
MARATHON · Oct 2022: +67.2% vs market
OSWALSEEDS · Oct 2022: +74.1% vs market
HPL · Aug 2023: +91.9% vs market
S&SPOWER · Dec 2023: +92.0% vs market
ELECON · Sep 2021: +103.3% vs market
KIRLOSENG · May 2023: +114.3% vs market
KALYANKJIL · Jul 2023: +124.8% vs market
GRPLTD · Jun 2023: +139.0% vs market
RAMASTEEL · May 2022: +160.2% vs market
JBMA · Jun 2022: +161.8% vs market
TARIL · Nov 2022: +172.1% vs market
Similar setups +12.7%All companies −4.3%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 7 beyond the range shown, drawn at the edge

Similar setups' median
+12.7%
All companies' median
−4.3%
Beat the market
54% vs 45%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
NAHARSPING
Process Industries		 Aug 2021 34x7% +932%−14% −17%
HPL
Electronic Technology		 Aug 2023 47x9% +209%−5% +92%
SALZERELEC
Producer Manufacturing		 Jan 2025 32x13% +196%−23% −57%
KANORICHEM
Process Industries		 Jul 2021 56x4% +462%−3% −32%
ELECTCAST
Non-Energy Minerals		 Apr 2024 36x10% +407%−6% −51%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AYMSYNTEX
Process Industries		 May 2025 41x7% +151%−27% −3%
JINDALSAW
Non-Energy Minerals		 Nov 2023 23x11% +397%−8% +3%
UNIVCABLES
Electronic Technology		 May 2023 17x9% +156%−11% +15%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, interest cover and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to BODAL CHEMICALS LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

UNIVERSAL CABLESUNIVCABLES
Electronic Technology
70%similar
operating margindebt/equity
DIGITIDE SOLUTIONSDIGITIDE
Technology Services
68%similar
promoter holdingoperating margin
ELECTRONICS MART INDIAEMIL
Retail Trade
63%similar
operating marginrevenue growth
EPACK DURABLEEPACK
Producer Manufacturing
63%similar
revenuedebt/equity
GOODLUCK INDIAGOODLUCK
Non-Energy Minerals
61%similar
operating marginrevenue growth
S H KELKAR AND COMPANYSHK
Process Industries
73%similar
ROCErevenue growth
ESTER INDUSTRIESESTER
Process Industries
62%similar
operating margindebt/equity
GRM OVERSEASGRMOVER
Process Industries
57%similar
market capdebt/equity

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Mar '23

  1. OctPriceFell 33% from the Sep 2026 peak to the Oct 2026 low.
  2. SepResultsRevenue (TTM) reached a new high of ₹2,267 cr.
  3. SepPriceRegained the 2021-10 peak, 6 months after the low.
  4. SepPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  5. SepPriceVolume reached 212.5x its 50-day median on 2026-09-02; price +14.7% that day.
  6. JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
  7. MayPriceVolume reached 13.8x its 50-day median on 2026-05-21; price +15.0% that day.
  8. MarPriceFell 70% from the Oct 2021 peak to the Mar 2026 low.
Show 22 earlier events
  1. MarPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
  2. MarPriceVolume reached 41.7x its 50-day median on 2026-03-20; price +11.2% that day.
  3. DecPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  4. NovPriceVolume reached 7.0x its 50-day median on 2025-11-12; price -1.7% that day.
  5. JulPriceVolume reached 5.5x its 50-day median on 2025-07-04; price +2.7% that day.
  6. JunResultsYear-on-year EPS growth turned positive.
  7. JunPeer rankMoved into the top quartile of Process Industries on EPS growth (from the bottom quartile).
  8. MayValuationP/E crossed above the 90th percentile of its own history to date (155.3x).
  9. MarPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  10. MarPriceVolume reached 36.7x its 50-day median on 2025-03-10; price +15.9% that day.
  11. JulPriceVolume reached 15.3x its 50-day median on 2024-07-26; price +7.2% that day.
  12. JunValuationP/E crossed above the 90th percentile of its own history to date (148.3x).
  13. JunDividendDividend payout cut from 3% to 0% of profit.
  14. JunPriceVolume reached 7.5x its 50-day median on 2024-06-20; price +5.2% that day.
  15. MarPriceVolume reached 12.3x its 50-day median on 2024-03-04; price +4.4% that day.
  16. DecPriceVolume reached 8.5x its 50-day median on 2023-12-19; price +4.8% that day.
  17. AugPriceVolume reached 28.7x its 50-day median on 2023-08-30; price +4.2% that day.
  18. JunResultsYear-on-year EPS growth turned negative.
  19. JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
  20. JunDividendDividend payout cut from 9% to 3% of profit.
  21. JunPriceVolume reached 30.3x its 50-day median on 2023-06-13; price +16.1% that day.
  22. MarPriceVolume reached 5.4x its 50-day median on 2023-03-09; price +5.2% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1129.5x₹2267 cr6.0%6.0%0.7x
2026-1030.1x₹2267 cr6.0%6.0%0.7x
2026-0936.3x₹2267 cr5.9%6.0%0.7x
2026-0831.2x₹2012 cr4.1%6.0%0.7x
2026-0718.5x₹2012 cr4.1%6.0%0.7x
2026-0616.4x₹2012 cr4.1%6.0%0.7x
2026-0529.4x₹1875 cr2.7%6.0%0.8x
2026-0428.2x₹1875 cr2.7%6.0%0.8x
2026-0321.2x₹1875 cr2.7%6.0%0.8x
2026-0216.6x₹1828 cr3.2%6.0%0.8x
2026-0117.1x₹1828 cr3.2%6.0%0.8x
2025-1219.0x₹1828 cr3.2%6.0%0.8x
2025-1123.3x₹1777 cr2.6%6.0%0.8x
2025-1026.4x₹1777 cr2.6%6.0%0.8x
2025-0926.6x₹1777 cr2.6%6.0%0.8x
2025-0844.0x₹1745 cr1.6%6.0%0.8x
2025-0750.9x₹1745 cr1.6%6.0%0.8x
2025-0652.3x₹1745 cr1.6%6.0%0.8x
2025-05155.3x₹1688 cr0.6%3.0%0.8x
2025-04134.9x₹1688 cr0.6%3.0%0.8x
2025-03121.6x₹1688 cr0.6%3.0%0.8x
2025-02411.6x₹1584 cr0.2%3.0%0.8x
2025-01481.5x₹1584 cr0.2%3.0%0.8x
2024-12517.2x₹1584 cr0.2%3.0%0.8x
2024-11295.1x₹1485 cr0.3%3.0%0.8x
2024-10308.7x₹1485 cr0.3%3.0%0.8x
2024-09325.0x₹1485 cr0.3%3.0%0.8x
2024-08156.7x₹1395 cr0.6%3.0%0.8x
2024-07159.3x₹1395 cr0.6%3.0%0.8x
2024-06148.3x₹1395 cr0.6%3.0%0.8x
2024-0523.4x₹1574 cr3.5%5.0%0.7x
2024-0425.7x₹1574 cr3.5%5.0%0.7x
2024-0324.2x₹1574 cr3.5%5.0%0.7x
2024-0227.9x₹1574 cr3.5%5.0%0.7x
2024-0128.5x₹1574 cr3.5%5.0%0.7x
2023-1227.3x₹1574 cr3.5%5.0%0.7x
2023-1124.4x₹1574 cr3.5%5.0%0.7x
2023-1024.7x₹1574 cr3.5%5.0%0.7x
2023-0927.7x₹1574 cr3.5%5.0%0.7x
2023-0827.2x₹1574 cr3.5%5.0%0.7x
2023-0723.4x₹1574 cr3.5%5.0%0.7x
2023-0624.2x₹1574 cr3.5%5.0%0.7x
2023-057.6x₹2055 cr9.4%12.0%0.6x
2023-048.2x₹2055 cr9.4%12.0%0.6x
2023-036.8x₹2055 cr9.4%12.0%0.6x
2023-027.3x₹2055 cr9.4%12.0%0.6x
2023-018.4x₹2055 cr9.4%12.0%0.6x
2022-129.3x₹2055 cr9.4%12.0%0.6x
2022-119.5x₹2055 cr9.4%12.0%0.6x
2022-109.5x₹2055 cr9.4%12.0%0.6x
2022-0910.1x₹2055 cr9.4%12.0%0.6x
2022-0810.9x₹2055 cr9.4%12.0%0.6x
2022-0710.9x₹2055 cr9.4%12.0%0.6x
2022-069.9x₹2055 cr9.4%12.0%0.6x
2022-0527.7x₹1226 cr4.1%5.0%0.5x
2022-0432.1x₹1226 cr4.1%5.0%0.5x
2022-0329.4x₹1226 cr4.1%5.0%0.5x
2022-0230.5x₹1226 cr4.1%5.0%0.5x
2022-0131.6x₹1226 cr4.1%5.0%0.5x
2021-1232.6x₹1226 cr4.1%5.0%0.5x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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