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CCL PRODUCTS INDIA LIMITED (CCL)

Consumer Non-Durables · Food: Specialty/Candy · figures to Nov '26

Divergence: business ahead of price (3 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.62 / 100
Profitability 63Growth 81Balance sheet 40
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.62 / 100
Price 31Earnings 72FII/DII 83

Passes these screensCash RichBusiness ahead of priceConsistent compounders

Compare withBRITANNIA INDUSTRIESTATA CONSUMER PRODUCTSMANORAMA INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹980.2 latest close · −16.4% over the last 90 sessions

₹900₹1,000₹1,100₹1,200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹900₹1,000₹1,100₹1,200Jul 3Sep 4Nov 9

₹980.2 month-end · −2.8% over 12 months

₹1,000₹1,100₹1,200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,000₹1,100₹1,200Nov '25May '26Nov '26

₹980.2 month-end · +48.5% over 3 years

₹600₹800₹1,000₹1,200Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹600₹800₹1,000₹1,200Nov '23May '25Nov '26

₹980.2 month-end · +265.7% since Jan '19

₹500₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000Jan '19Dec '22Nov '26

52-week range ₹874.00 to ₹1242.20 · 1-year volatility 33.0%

Was the rally earned?

-3%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-3%).
  • The share count barely moved.
Net profit growth: +33 pts. Points of the price return explained by net profit growing (or shrinking).+33 ptsNet profit growthP/E change: −35 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−35 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −3%−3%Share priceNet profit growth: +33 pts. Points of the price return explained by net profit growing (or shrinking).+33ProfitP/E change: −35 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−35P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −3%−3%Share price
Net profit growth+33 ptsNet profit rose about 39%, which lifts the price.
P/E change-35 ptsThe P/E fell from 43.3x to 30.3x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+49%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 51 points, but investors now pay less per rupee of profit (P/E 30.9x to 30.3x), which took 3 points back.
  • The share count barely moved.
Net profit growth: +52 pts. Points of the price return explained by net profit growing (or shrinking).+52 ptsNet profit growthP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +49%+49%Share priceNet profit growth: +52 pts. Points of the price return explained by net profit growing (or shrinking).+52ProfitP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +49%+49%Share price
Net profit growth+52 ptsNet profit rose about 52%, which lifts the price.
P/E change-3 ptsThe P/E fell from 30.9x to 30.3x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+143%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 139 points to the rise, while the multiple moved less (P/E 29.5x to 30.3x).
  • The share count barely moved.
Net profit growth: +139 pts. Points of the price return explained by net profit growing (or shrinking).+139 ptsNet profit growthP/E change: +4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+4 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: +143%+143%Share priceNet profit growth: +139 pts. Points of the price return explained by net profit growing (or shrinking).+139ProfitP/E change: +4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+4P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +143%+143%Share price
Net profit growth+139 ptsNet profit rose about 138%, which lifts the price.
P/E change+4 ptsThe P/E rose from 29.5x to 30.3x, which lifts 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 BRITANNIA INDUSTRIES

How rough has the ride been?

Maximum drawdown-49.6%recovered 2021-05
1-year volatility33.0%annualised
Beta vs sector index0.603-year daily, correlation 0.23
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−41.3% 0%−20%−40%2020202220242026−41.3%
Largest drawdowns

-49.6% (2019-03 peak to 2020-03 low, recovered 2021-05)

-36.6% (2022-02 peak to 2022-05 low, recovered 2022-09)

-33.8% (2024-09 peak to 2025-04 low, recovered 2025-05)

Most recent volume spikes

2026-10-16: 10.6x the 50-day median, price -7.1% 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?

30.3xP/E todayWithin its usual range
Against its own history56th percentile
CheapestMedian 29.5xDearest

Usual range 18.9x to 38.4x since 2019-01.

Against Consumer Non-Durables30.3x vs 26.8x
This company
30.3x
Sector median
26.8x

13% above the Consumer Non-Durables median.

14.2x25.9x37.7x49.5xJan '19Aug '20Mar '22Oct '23May '25Nov '2614.2x25.9x37.7x49.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables 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 Consumer Non-Durables is valued

Where does it rank among Consumer Non-Durables peers?

Each cell is the company's percentile rank among its Consumer Non-Durables 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

  • ROCE61st▲ 13 pts vs a year ago
  • Op. margin66thflat vs a year ago
  • Revenue growth88th▲ 8 pts vs a year ago
  • EPS growth81st▲ 9 pts vs a year ago
  • Debt/equity ↓34th▲ 22 pts vs a year ago
  • Cash cycle ↓40th▲ 13 pts vs a year ago
  • P/E ↓46th▲ 5 pts vs a year ago
  • 12M momentum64th▼ 24 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 Consumer Non-Durables sector page Watch it move against Consumer Non-Durables in the Observatory

What is the price implying?

~19%annual earnings growth implied by the priceAbove delivered growth

At P/E of 30.3x, a holder earning 12%/yr needs earnings to grow about 18.7%/yr for 10 years, then trade at 15x.

Delivered12.1%/yrEPS, last 10 fiscal years · fitted trend
Gap+6.7 ptsimplied minus delivered
Rank395thmost demanding of 856

Over time

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

0%12%23% Jan 2019Nov 2026 0%12%23% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x20.1%21.2%22.3%
15x17.7%18.7%19.8%
20x14.5%15.6%16.6%

Drag a slider to test other assumptions

Implied: 18.7%/yr

Looking back

  • Jan 2020Price implied 13%/yr; EPS has since grown 14%/yr (7.0 yrs)
  • Jan 2021Price implied 13%/yr; EPS has since grown 15%/yr (6.0 yrs)
  • Jan 2022Price implied 20%/yr; EPS has since grown 16%/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 Consumer Non-Durables The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹980.20
P/E
30.3x
ROCE
16.0%
Market Cap
₹13089 cr
Revenue (TTM)
₹4602 cr
P/S
2.8x
P/B
5.6x
ROE
18.4%
Operating Margin
16.0%
Debt / Equity
0.6x
Promoter Holding
46.1%
12M Momentum
-2.8%

52-week range

₹874.00₹1242.20
29% of the way from its 52-week low to its high

Price risk

1Y volatility
33.0%
Beta vs sector
1-year daily
0.54

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.27x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance2%Within range

Other income as a share of pre-tax profit (trailing twelve months): 1.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate14%Near threshold

Median quarterly effective tax rate over about 2.5 years: 14.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.27xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.27x (cash from operations ₹1,203 cr, net profit ₹948 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-11 daysWithin range

Debtor days are below the median of the previous three fiscal years by 11 days (67 vs 78). 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+9 days / 2 yrsWithin range

Days payable changed by +9 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, FIIs added 4.3 pts.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters46.3%46.1%-0.1 pts
FIIs7.8%12.1%+4.3 pts
DIIs21.4%21.1%-0.3 pts
Public and others24.5%20.5%-4.0 pts

Number of shareholders

63,904shareholders+4% since Dec '23
53k56k60k64k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 61,202
Mar '24: 55,495
Jun '24: 58,890
Sep '24: 53,645
Dec '24: 52,651
Mar '25: 52,970
Jun '25: 54,988
Sep '25: 55,690
Dec '25: 60,552
Mar '26: 62,293
Jun '26: 63,904
 53k56k60k64k Dec '23Dec '24Dec '25Jun '26
Dec '23: 61,202
Mar '24: 55,495
Jun '24: 58,890
Sep '24: 53,645
Dec '24: 52,651
Mar '25: 52,970
Jun '25: 54,988
Sep '25: 55,690
Dec '25: 60,552
Mar '26: 62,293
Jun '26: 63,904

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

−10.3%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 CCL PRODUCTS INDIA 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 −23% to +34% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (−8.7%, 80% range −16.8% to +3.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SOLARA · Aug 2021: −74.0% vs market
WELSPUNLIV · Nov 2021: −45.6% vs market
RKFORGE · Dec 2024: −44.6% vs market
HAPPSTMNDS · Jul 2025: −41.0% vs market
BOROLTD · Jan 2025: −39.0% vs market
CYIENT · Mar 2024: −38.8% vs market
RAMCOCEM · Apr 2021: −34.8% vs market
SIS · May 2020: −32.9% vs market
PVRINOX · Apr 2020: −28.5% vs market
BIRLACORPN · May 2021: −28.2% vs market
SOMANYCERA · Feb 2022: −26.3% vs market
TCI · Mar 2020: −24.2% vs market
GLENMARK · Mar 2021: −23.0% vs market
SAPPHIRE · Jun 2023: −22.2% vs market
GODREJIND · Apr 2021: −22.0% vs market
TIIL · Jul 2025: −21.5% vs market
VGUARD · Nov 2024: −20.5% vs market
GODREJAGRO · Aug 2020: −18.6% vs market
JKCEMENT · Dec 2021: −17.1% vs market
GUFICBIO · Mar 2025: −16.3% vs market
SUPRAJIT · Jul 2023: −15.8% vs market
SUDARSCHEM · Nov 2020: −15.3% vs market
SOBHA · Jan 2020: −13.9% vs market
INDOCO · Jun 2021: −11.1% vs market
FSL · Oct 2025: −10.6% vs market
HIKAL · Feb 2020: −10.0% vs market
ASTERDM · Apr 2020: −9.3% vs market
PITTIENG · Jun 2025: −4.3% vs market
KPRMILL · Dec 2023: +2.5% vs market
UNOMINDA · Jul 2024: +6.2% vs market
GREENLAM · Aug 2022: +16.6% vs market
MINDACORP · Apr 2024: +17.3% vs market
IPCALAB · Jul 2024: +19.7% vs market
KNRCON · Feb 2021: +24.8% vs market
JUBLPHARMA · Apr 2020: +24.9% vs market
MOLDTKPAC · Mar 2020: +26.5% vs market
RADICO · Apr 2021: +28.2% vs market
NH · Aug 2022: +35.7% vs market
BHARATFORG · May 2023: +36.8% vs market
ASAHIINDIA · Nov 2024: +43.5% vs market
CRAFTSMAN · Nov 2022: +45.1% vs market
JKLAKSHMI · Jul 2020: +50.0% vs market
EMCURE · Oct 2025: +50.0% vs market
APOLLOHOSP · Jun 2020: +64.1% vs market
SANSERA · Mar 2025: +75.2% vs market
CENTURYPLY · Apr 2020: +80.0% vs market
BLUESTARCO · Dec 2023: +92.1% vs market
PRESTIGE · Sep 2023: +111.0% vs market
ELGIEQUIP · Oct 2021: +134.7% vs market
AARTIDRUGS · Jan 2020: +268.2% vs market
Similar setups −10.3%All companies −1.6%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−10.3%
All companies' median
−1.6%
Beat the market
44% vs 48%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RKFORGE
Producer Manufacturing		 Dec 2024 47x17% +23%−15% −45%
CRAFTSMAN
Producer Manufacturing		 Nov 2022 39x18% +34%−10% +45%
JKCEMENT
Non-Energy Minerals		 Dec 2021 37x20% +77%−10% −17%
SUPRAJIT
Producer Manufacturing		 Jul 2023 38x15% +24%−4% −16%
SANSERA
Producer Manufacturing		 Mar 2025 34x16% +20%−30% +75%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SOBHA
Finance		 Jan 2020 16x14% −5%−23% −14%
ASTERDM
Health Services		 Apr 2020 15x13% −33%−44% −9%
KNRCON
Industrial Services		 Feb 2021 22x19% +56%−11% +25%
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, P/S and drawdown from 12-month high. 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 CCL PRODUCTS INDIA 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.

SPR AUTO TECHNOLOGIESSHRIPISTON
Producer Manufacturing
72%similar
revenuepromoter holding
CRAFTSMAN AUTOMATIONCRAFTSMAN
Producer Manufacturing
69%similar
operating marginEPS growth
SUPRAJIT ENGINEERINGSUPRAJIT
Producer Manufacturing
69%similar
promoter holdingrevenue
LT FOODSLTFOODS
Process Industries
68%similar
market capEPS growth
ERIS LIFESCIENCESERIS
Health Technology
67%similar
debt/equityvolatility
TILAKNAGAR INDUSTRIESTI
Consumer Non-Durables
68%similar
operating marginmarket cap
ADITYA BIRLA LIFESTYLE BRANDSABLBL
Consumer Non-Durables
61%similar
promoter holdingvolatility
HINDUSTAN FOODSHNDFDS
Consumer Non-Durables
54%similar
revenueROCE

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

What changed?

30 events since May '24

  1. OctPriceFell 27% from the Jul 2026 peak to the Oct 2026 low.
  2. OctPriceVolume reached 10.6x its 50-day median on 2026-10-16; price -7.1% that day.
  3. SepPeer rankMoved into the top quartile of Consumer Non-Durables on EPS growth (from the 2nd quartile).
  4. JunPeer rankMoved into the 2nd quartile of Consumer Non-Durables on ROCE (from the 3rd quartile).
  5. JunPriceVolume reached 25.1x its 50-day median on 2026-06-08; price +8.7% that day.
  6. AprValuationP/E crossed above the 90th percentile of its own history to date (40.4x).
  7. MarPeer rankMoved into the top quartile of Consumer Non-Durables on EPS growth (from the 2nd quartile).
  8. FebPriceVolume reached 16.3x its 50-day median on 2026-02-23; price +3.9% that day.
Show 22 earlier events
  1. DecPeer rankMoved into the top quartile of Consumer Non-Durables on operating margin (from the 2nd quartile).
  2. NovPriceVolume reached 104.1x its 50-day median on 2025-11-06; price +9.5% that day.
  3. OctValuationP/E crossed above the 90th percentile of its own history to date (36.9x).
  4. SepPeer rankSlipped to the 2nd quartile of Consumer Non-Durables on operating margin (from the top quartile).
  5. AugPriceVolume reached 5.6x its 50-day median on 2025-08-04; price +3.7% that day.
  6. JunResultsYear-on-year EPS growth turned positive.
  7. JunPeer rankMoved into the top quartile of Consumer Non-Durables on operating margin (from the 2nd quartile).
  8. MayPriceRegained the 2024-09 peak, 1 month after the low.
  9. MayValuationP/E crossed above the 90th percentile of its own history to date (43.2x).
  10. MayPriceVolume reached 153.9x its 50-day median on 2025-05-06; price +17.2% that day.
  11. AprPriceFell 34% from the Sep 2024 peak to the Apr 2025 low.
  12. MarPeer rankSlipped to the 2nd quartile of Consumer Non-Durables on operating margin (from the top quartile).
  13. DecPeer rankMoved into the top quartile of Consumer Non-Durables on operating margin (from the 2nd quartile).
  14. NovValuationP/E crossed above the 90th percentile of its own history to date (40.5x).
  15. NovPriceVolume reached 49.4x its 50-day median on 2024-11-06; price +7.5% that day.
  16. SepPriceRegained the 2023-07 peak, 4 months after the low.
  17. SepPriceVolume reached 60.8x its 50-day median on 2024-09-04; price +15.3% that day.
  18. JulValuationP/E crossed above the 90th percentile of its own history to date (36.0x).
  19. JunResultsYear-on-year EPS growth turned negative.
  20. JunPeer rankSlipped to the 3rd quartile of Consumer Non-Durables on ROCE (from the 2nd quartile).
  21. MayPriceFell 25% from the Jul 2023 peak to the May 2024 low.
  22. MayPriceVolume reached 6.5x its 50-day median on 2024-05-27; price +4.5% 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
2026-1130.3x₹4602 cr18.4%16.0%0.6x
2026-1028.8x₹4602 cr18.5%16.0%0.6x
2026-0931.5x₹4602 cr18.5%16.0%0.6x
2026-0837.1x₹4458 cr16.5%16.0%0.6x
2026-0739.7x₹4458 cr16.5%16.0%0.6x
2026-0640.6x₹4458 cr16.5%16.0%0.6x
2026-0537.5x₹4070 cr19.1%13.0%0.9x
2026-0440.4x₹4070 cr19.1%13.0%0.9x
2026-0337.0x₹4070 cr19.1%13.0%0.9x
2026-0240.1x₹3777 cr17.2%13.0%0.9x
2026-0138.3x₹3777 cr17.2%13.0%0.9x
2025-1237.3x₹3777 cr17.2%13.0%0.9x
2025-1143.3x₹3388 cr15.8%13.0%0.9x
2025-1036.9x₹3388 cr15.8%13.0%0.9x
2025-0936.2x₹3388 cr15.8%13.0%0.9x
2025-0837.5x₹3105 cr15.8%13.0%0.9x
2025-0736.7x₹3105 cr15.8%13.0%0.9x
2025-0636.6x₹3105 cr15.8%13.0%0.9x
2025-0543.2x₹2996 cr16.3%12.0%1.0x
2025-0428.9x₹2996 cr16.3%12.0%1.0x
2025-0327.1x₹2996 cr16.3%12.0%1.0x
2025-0228.3x₹2902 cr16.3%12.0%1.0x
2025-0130.3x₹2902 cr16.3%12.0%1.0x
2024-1236.1x₹2902 cr16.3%12.0%1.0x
2024-1140.5x₹2772 cr15.5%12.0%1.0x
2024-1034.7x₹2772 cr15.5%12.0%1.0x
2024-0936.0x₹2772 cr15.5%12.0%1.0x
2024-0838.5x₹2654 cr14.9%12.0%1.0x
2024-0736.0x₹2654 cr14.9%12.0%1.0x
2024-0631.6x₹2654 cr14.9%12.0%1.0x
2024-0526.8x₹2071 cr19.0%16.0%0.6x
2024-0427.7x₹2071 cr19.0%16.0%0.6x
2024-0327.5x₹2071 cr19.0%16.0%0.6x
2024-0229.5x₹2071 cr19.0%16.0%0.6x
2024-0131.4x₹2071 cr19.0%16.0%0.6x
2023-1230.2x₹2071 cr19.0%16.0%0.6x
2023-1130.9x₹2071 cr19.0%16.0%0.6x
2023-1027.6x₹2071 cr19.0%16.0%0.6x
2023-0930.2x₹2071 cr19.0%16.0%0.6x
2023-0828.4x₹2071 cr19.0%16.0%0.6x
2023-0728.8x₹2071 cr19.0%16.0%0.6x
2023-0631.1x₹2071 cr19.0%16.0%0.6x
2023-0541.3x₹1462 cr16.3%16.0%0.5x
2023-0439.2x₹1462 cr16.3%16.0%0.5x
2023-0337.0x₹1462 cr16.3%16.0%0.5x
2023-0235.6x₹1462 cr16.3%16.0%0.5x
2023-0135.3x₹1462 cr16.3%16.0%0.5x
2022-1234.5x₹1462 cr16.3%16.0%0.5x
2022-1135.6x₹1462 cr16.3%16.0%0.5x
2022-1032.6x₹1462 cr16.3%16.0%0.5x
2022-0932.7x₹1462 cr16.3%16.0%0.5x
2022-0831.3x₹1462 cr16.3%16.0%0.5x
2022-0729.0x₹1462 cr16.3%16.0%0.5x
2022-0625.0x₹1462 cr16.3%16.0%0.5x
2022-0525.8x₹1242 cr16.7%17.0%0.5x
2022-0429.8x₹1242 cr16.7%17.0%0.5x
2022-0329.5x₹1242 cr16.7%17.0%0.5x
2022-0232.7x₹1242 cr16.7%17.0%0.5x
2022-0134.3x₹1242 cr16.7%17.0%0.5x
2021-1231.3x₹1242 cr16.7%17.0%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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