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BIRLASOFT LIMITED (BSOFT)

Technology Services · Packaged Software · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.68 / 100
Profitability 60Growth 44Balance sheet 100
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.63 / 100
Price 76Earnings 65FII/DII 50

Passes these screensDebt-light & profitable

Compare withONE 97 COMMUNICATIONS PAYTMORACLE FINANCIAL SERVICES SOFTMPHASIS

Share price

Closing priceAdjusted for splits and bonus issues.

₹332.3 latest close · +17.6% over the last 90 sessions

₹275₹300₹325Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹275₹300₹325Jul 3Sep 4Nov 9

₹332.3 month-end · −12.6% over 12 months

₹300₹350₹400Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹300₹350₹400Nov '25May '26Nov '26

₹332.3 month-end · −47.3% over 3 years

₹400₹600₹800Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600₹800Nov '23May '25Nov '26

₹332.3 month-end · +190.7% since Jan '19

₹0₹250₹500₹750Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹250₹500₹750Jan '19Dec '22Nov '26

52-week range ₹267.05 to ₹474.00 · 1-year volatility 40.9%

Was the rally earned?

-13%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 17 points, but investors now pay less per rupee of profit (P/E 22.3x to 16.2x), which took 30 points back.
  • The share count barely moved.
Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsNet profit growthP/E change: −30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−30 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: −13%−13%Share priceNet profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18ProfitP/E change: −30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−30P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −13%−13%Share price
Net profit growth+18 ptsNet profit rose about 21%, which lifts the price.
P/E change-30 ptsThe P/E fell from 22.3x to 16.2x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-47%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 39 points, but investors now pay less per rupee of profit (P/E 52.3x to 16.2x), which took 86 points back.
  • The share count barely moved.
Net profit growth: +40 pts. Points of the price return explained by net profit growing (or shrinking).+40 ptsNet profit growthP/E change: −86 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−86 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: −47%−47%Share priceNet profit growth: +40 pts. Points of the price return explained by net profit growing (or shrinking).+40ProfitP/E change: −86 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−86P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −47%−47%Share price
Net profit growth+40 ptsNet profit rose about 73%, which lifts the price.
P/E change-86 ptsThe P/E fell from 52.3x to 16.2x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-30%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 48 points, but investors now pay less per rupee of profit (P/E 41.1x to 16.2x), which took 78 points back.
  • The share count barely moved.
Net profit growth: +49 pts. Points of the price return explained by net profit growing (or shrinking).+49 ptsNet profit growthP/E change: −78 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−78 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: −30%−30%Share priceNet profit growth: +49 pts. Points of the price return explained by net profit growing (or shrinking).+49ProfitP/E change: −78 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−78P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −30%−30%Share price
Net profit growth+49 ptsNet profit rose about 79%, which lifts the price.
P/E change-78 ptsThe P/E fell from 41.1x to 16.2x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against 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 ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-68.5%not yet recovered
1-year volatility40.9%annualised
Beta vs sector index1.203-year daily, correlation 0.65
Volume spikes7last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−68.4% 0%−20%−40%−60%2020202220242026−68.4%
Largest drawdowns

-68.5% (2024-02 peak to 2026-09 low, not yet recovered)

-59.8% (2019-01 peak to 2020-03 low, recovered 2020-08)

-56.4% (2022-01 peak to 2023-03 low, recovered 2023-11)

Most recent volume spikes

2026-10-30: 7.1x the 50-day median, price -5.7% that day

2026-10-29: 58.7x the 50-day median, price +11.9% that day

2026-10-15: 8.9x the 50-day median, price +3.6% 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?

16.2xP/E todayWithin its usual range
Against its own history26th percentile
CheapestMedian 21.8xDearest

Usual range 7.4x to 41.8x since 2019-01.

Against Technology Services16.2x vs 21.1x
This company
16.2x
Sector median
21.1x

23% below the Technology Services median.

5.8x27.3x48.8x70.3xJan '19Aug '20Mar '22Oct '23May '25Nov '265.8x27.3x48.8x70.3xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services 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 Technology Services is valued

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services 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

  • ROCE65thflat vs a year ago
  • Op. margin54th▲ 12 pts vs a year ago
  • Revenue growth23rdflat vs a year ago
  • EPS growth65th▲ 39 pts vs a year ago
  • Debt/equity ↓67th▲ 3 pts vs a year ago
  • Cash cycle ↓47th▼ 5 pts vs a year ago
  • P/E ↓63rd▼ 7 pts vs a year ago
  • 12M momentum64th▲ 37 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~13%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 18.9x, a holder earning 12%/yr needs earnings to grow about 12.7%/yr for 10 years, then trade at 15x.

Delivered7.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+5.4 ptsimplied minus delivered
Rank414thmost demanding of 856

Over time

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

-7%11%30% Jan 2019Nov 2026 -7%11%30% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x13.9%14.9%16.0%
15x11.7%12.7%13.7%
20x8.8%9.7%10.7%

Drag a slider to test other assumptions

Implied: 12.7%/yr

Looking back

  • Jan 2020Price implied 4%/yr; EPS has since grown 8%/yr (7.0 yrs)
  • Jan 2021Price implied 18%/yr; EPS has since grown 15%/yr (6.0 yrs)
  • Jan 2022Price implied 25%/yr; EPS has since grown 10%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹332.30
P/E
16.2x
ROCE
21.0%
Market Cap
₹9297 cr
Revenue (TTM)
₹5405 cr
P/S
1.7x
P/B
2.3x
ROE
14.0%
Operating Margin
16.0%
Debt / Equity
0.0x
Promoter Holding
40.4%
12M Momentum
-12.6%

52-week range

₹267.05₹474.00
32% of the way from its 52-week low to its high

Price risk

1Y volatility
40.9%
Beta vs sector
1-year daily
1.23

Balance sheet & cash

Interest cover
operating profit ÷ interest
45.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.08x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance2%Within range

Other income as a share of pre-tax profit (trailing twelve months): 2.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 27.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.08xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.08x (cash from operations ₹1,787 cr, net profit ₹1,659 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history+16 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 16 days (83 vs 67). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

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 3 years, FIIs trimmed 4.8 pts; promoters trimmed 0.6 pts.
  • The number of shareholders rose from 3.2 lakh to 4.0 lakh (+26%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters41.0%40.4%-0.6 pts
FIIs17.6%12.8%-4.8 pts
DIIs22.4%22.0%-0.4 pts
Public and others19.0%24.9%+5.8 pts

Number of shareholders

4.0 lakhshareholders+26% since Sep '23
3.2L3.6L4.1L4.5L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 3.2 lakh
Dec '23: 3.2 lakh
Mar '24: 3.4 lakh
Jun '24: 3.8 lakh
Sep '24: 4.5 lakh
Dec '24: 4.5 lakh
Mar '25: 4.5 lakh
Jun '25: 4.5 lakh
Sep '25: 4.5 lakh
Dec '25: 4.2 lakh
Mar '26: 4.0 lakh
Jun '26: 4.0 lakh
 3.2L3.6L4.1L4.5L Sep '23Sep '24Sep '25Jun '26
Sep '23: 3.2 lakh
Dec '23: 3.2 lakh
Mar '24: 3.4 lakh
Jun '24: 3.8 lakh
Sep '24: 4.5 lakh
Dec '24: 4.5 lakh
Mar '25: 4.5 lakh
Jun '25: 4.5 lakh
Sep '25: 4.5 lakh
Dec '25: 4.2 lakh
Mar '26: 4.0 lakh
Jun '26: 4.0 lakh

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

+2.5%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 BIRLASOFT LIMITED 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 −21% to +49% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+6.1%, 80% range −6.2% to +24.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DBCORP · Jan 2020: −50.1% vs market
OAL · Mar 2022: −47.4% vs market
ZEEL · Feb 2023: −44.9% vs market
BHAGERIA · Feb 2022: −43.2% vs market
GAEL · Oct 2023: −41.1% vs market
IGL · Aug 2025: −32.4% vs market
NUCLEUS · Oct 2025: −31.7% vs market
RSYSTEMS · Sep 2025: −30.6% vs market
DEEPAKNTR · Feb 2025: −27.7% vs market
TANLA · Sep 2025: −25.5% vs market
VEEDOL · Sep 2025: −22.9% vs market
DHANUKA · Apr 2025: −22.4% vs market
VAIBHAVGBL · May 2023: −21.7% vs market
NBCC · Dec 2021: −18.6% vs market
SHRIPISTON · May 2020: −14.9% vs market
LGBBROSLTD · Sep 2023: −10.3% vs market
DCMSHRIRAM · Dec 2022: −9.9% vs market
FINCABLES · Aug 2021: −7.6% vs market
ACI · Jun 2024: −7.4% vs market
EXCELINDUS · Jun 2020: −7.1% vs market
ACC · Jan 2023: −7.1% vs market
TVTODAY · May 2020: −4.7% vs market
AHLUCONT · Apr 2020: −2.8% vs market
INDNIPPON · Jul 2020: −1.4% vs market
RITES · Dec 2023: −1.2% vs market
INTELLECT · Jan 2025: +6.2% vs market
TCI · Jan 2023: +7.3% vs market
AVANTIFEED · Sep 2024: +10.5% vs market
ENGINERSIN · Mar 2025: +16.6% vs market
MAITHANALL · May 2021: +21.5% vs market
ZENSARTECH · Sep 2024: +22.4% vs market
FLAIR · Mar 2025: +29.5% vs market
KRBL · Jun 2022: +30.1% vs market
GPIL · Jun 2025: +34.7% vs market
STARCEMENT · Sep 2024: +37.4% vs market
AARTIPHARM · Sep 2024: +40.9% vs market
USHAMART · Apr 2025: +46.4% vs market
KSL · May 2020: +49.6% vs market
MAYURUNIQ · Jun 2020: +53.2% vs market
RHIM · Jun 2021: +56.8% vs market
CYIENT · Jun 2022: +65.2% vs market
GODFRYPHLP · Aug 2022: +77.0% vs market
DATAMATICS · Nov 2022: +81.5% vs market
STYLAMIND · Jul 2025: +83.8% vs market
GRSE · Mar 2022: +111.6% vs market
BAJAJCON · Jul 2025: +122.9% vs market
RAILTEL · May 2023: +143.8% vs market
MARKSANS · Nov 2022: +152.6% vs market
GABRIEL · Oct 2024: +173.0% vs market
MAZDOCK · Nov 2021: +219.6% vs market
Similar setups +2.5%All companies −3.6%← 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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
+2.5%
All companies' median
−3.6%
Beat the market
50% vs 46%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ZENSARTECH
Technology Services		 Sep 2024 22x25% +31%−17% +22%
TCI
Transportation		 Jan 2023 17x23% −10%−24% +7%
RSYSTEMS
Technology Services		 Sep 2025 24x21% −16%−27% −31%
GAEL
Consumer Non-Durables		 Oct 2023 23x18% +29%−15% −41%
KRBL
Process Industries		 Jun 2022 11x15% −8%−33% +30%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
EXCELINDUS
Process Industries		 Jun 2020 9x17% −27%−28% −7%
TANLA
Technology Services		 Sep 2025 18x29% −27%−28% −26%
MAITHANALL
Non-Energy Minerals		 May 2021 10x20% +107%−12% +22%
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: 12-month momentum, ROCE and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 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 BIRLASOFT LIMITED. 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.

ENGINEERS INDIAENGINERSIN
Industrial Services
69%similar
revenue growthoperating margin
JAMNA AUTO INDUSTRIESJAMNAAUTO
Producer Manufacturing
68%similar
revenue growthoperating margin
NATCO PHARMANATCOPHARM
Health Technology
67%similar
EPS growthP/E
USHA MARTINUSHAMART
Producer Manufacturing
66%similar
promoter holdingrevenue growth
L G BALKRISHNAN & BROSLGBBROSLTD
Producer Manufacturing
62%similar
P/EROCE
ZENSAR TECHNOLOGIESZENSARTECH
Technology Services
81%similar
P/Erevenue
TANLA PLATFORMSTANLA
Technology Services
71%similar
operating marginP/E
INTELLECT DESIGN ARENAINTELLECT
Technology Services
66%similar
volatilitydebt/equity

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

What changed?

30 events since Jun '22

  1. OctPriceVolume reached 58.7x its 50-day median on 2026-10-29; price +11.9% that day.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPriceFell 68% from the Feb 2024 peak to the Sep 2026 low.
  4. SepPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  5. JulPriceVolume reached 8.1x its 50-day median on 2026-07-02; price +2.2% that day.
  6. JunPriceVolume reached 13.4x its 50-day median on 2026-06-02; price +5.2% that day.
  7. FebPriceVolume reached 10.5x its 50-day median on 2026-02-13; price -8.0% that day.
  8. DecInstitutionsFII + DII holding fell 3.0 pts over 2 quarters to 33.2%.
Show 22 earlier events
  1. DecPeer rankMoved into the 2nd quartile of Technology Services on operating margin (from the 3rd quartile).
  2. OctPriceVolume reached 51.7x its 50-day median on 2025-10-23; price +7.7% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  5. MayPriceVolume reached 5.4x its 50-day median on 2025-05-29; price -0.6% that day.
  6. FebPriceVolume reached 6.0x its 50-day median on 2025-02-12; price -0.3% that day.
  7. DecInstitutionsFII + DII holding fell 6.1 pts over 2 quarters to 36.0%.
  8. DecPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).
  9. JunResultsYear-on-year EPS growth turned positive.
  10. JunPeer rankMoved into the top quartile of Technology Services on ROCE (from the 3rd quartile).
  11. NovPriceRegained the 2022-01 peak, 8 months after the low.
  12. NovPriceVolume reached 6.6x its 50-day median on 2023-11-01; price +4.8% that day.
  13. AugValuationP/E crossed above the 90th percentile of its own history to date (42.3x).
  14. JulPriceVolume reached 5.5x its 50-day median on 2023-07-27; price +6.0% that day.
  15. JunResultsYear-on-year EPS growth turned negative.
  16. JunPeer rankSlipped to the 3rd quartile of Technology Services on ROCE (from the 2nd quartile).
  17. MayPriceVolume reached 15.5x its 50-day median on 2023-05-09; price +7.1% that day.
  18. MarPriceFell 56% from the Jan 2022 peak to the Mar 2023 low.
  19. FebPriceVolume reached 5.3x its 50-day median on 2023-02-03; price -1.5% that day.
  20. DecPriceVolume reached 7.5x its 50-day median on 2022-12-01; price +6.1% that day.
  21. JunResultsRevenue (TTM) reached a new high of ₹4,130 cr.
  22. JunPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).

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
2026-1116.2x₹5405 cr14.0%21.0%0.0x
2026-1015.7x₹5405 cr13.9%21.0%0.0x
2026-0913.2x₹5405 cr13.9%21.0%0.0x
2026-0815.7x₹5311 cr12.6%21.0%0.0x
2026-0716.3x₹5311 cr12.6%21.0%0.0x
2026-0615.4x₹5311 cr12.6%21.0%0.0x
2026-0519.1x₹5279 cr13.3%21.0%0.0x
2026-0422.1x₹5279 cr13.3%21.0%0.0x
2026-0319.9x₹5279 cr13.3%21.0%0.0x
2026-0223.5x₹5294 cr13.3%21.0%0.0x
2026-0125.2x₹5294 cr13.3%21.0%0.0x
2025-1226.1x₹5294 cr13.3%21.0%0.0x
2025-1122.3x₹5333 cr13.6%21.0%0.0x
2025-1021.8x₹5333 cr13.6%21.0%0.0x
2025-0920.7x₹5333 cr13.6%21.0%0.0x
2025-0819.7x₹5375 cr14.9%21.0%0.0x
2025-0721.0x₹5375 cr14.9%21.0%0.0x
2025-0623.2x₹5375 cr14.9%21.0%0.0x
2025-0519.2x₹5421 cr18.9%30.0%0.0x
2025-0418.8x₹5421 cr18.9%30.0%0.0x
2025-0318.6x₹5421 cr18.9%30.0%0.0x
2025-0218.9x₹5401 cr20.3%30.0%0.0x
2025-0123.8x₹5401 cr20.3%30.0%0.0x
2024-1225.0x₹5401 cr20.3%30.0%0.0x
2024-1125.6x₹5343 cr20.9%30.0%0.0x
2024-1023.8x₹5343 cr20.9%30.0%0.0x
2024-0926.1x₹5343 cr20.9%30.0%0.0x
2024-0829.7x₹5278 cr20.5%30.0%0.0x
2024-0729.9x₹5278 cr20.5%30.0%0.0x
2024-0630.5x₹5278 cr20.5%30.0%0.0x
2024-0550.1x₹4795 cr13.6%17.0%0.0x
2024-0453.9x₹4795 cr13.6%17.0%0.0x
2024-0361.5x₹4795 cr13.6%17.0%0.0x
2024-0264.4x₹4795 cr13.6%17.0%0.0x
2024-0170.4x₹4795 cr13.6%17.0%0.0x
2023-1259.8x₹4795 cr13.6%17.0%0.0x
2023-1152.3x₹4795 cr13.6%17.0%0.0x
2023-1045.4x₹4795 cr13.6%17.0%0.0x
2023-0940.1x₹4795 cr13.6%17.0%0.0x
2023-0842.3x₹4795 cr13.6%17.0%0.0x
2023-0735.4x₹4795 cr13.6%17.0%0.0x
2023-0629.8x₹4795 cr13.6%17.0%0.0x
2023-0520.7x₹4130 cr18.0%25.0%0.0x
2023-0416.5x₹4130 cr18.0%25.0%0.0x
2023-0315.7x₹4130 cr18.0%25.0%0.0x
2023-0216.6x₹4130 cr18.0%25.0%0.0x
2023-0118.2x₹4130 cr18.0%25.0%0.0x
2022-1218.0x₹4130 cr18.0%25.0%0.0x
2022-1118.4x₹4130 cr18.0%25.0%0.0x
2022-1016.3x₹4130 cr18.0%25.0%0.0x
2022-0917.0x₹4130 cr18.0%25.0%0.0x
2022-0819.4x₹4130 cr18.0%25.0%0.0x
2022-0720.3x₹4130 cr18.0%25.0%0.0x
2022-0621.3x₹4130 cr18.0%25.0%0.0x
2022-0532.0x₹3556 cr14.7%22.0%0.1x
2022-0435.8x₹3556 cr14.7%22.0%0.1x
2022-0339.3x₹3556 cr14.7%22.0%0.1x
2022-0235.2x₹3556 cr14.7%22.0%0.1x
2022-0141.1x₹3556 cr14.7%22.0%0.1x
2021-1247.1x₹3556 cr14.7%22.0%0.1x

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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