अApnaFunda

CHAMUNDA ELECTRICAL LIMITED (CHAMUNDA)

Industrial Services · Engineering & Construction · 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.76 / 100
Profitability 52Balance sheet 100

Passes these screensDebt-light & profitable

Share price

Closing priceAdjusted for splits and bonus issues.

₹40 latest close · −12.7% over the last 90 sessions

₹40₹45May 25Jun 19Jul 20Aug 19Sep 25Nov 9 ₹40₹45May 25Aug 4Nov 9

₹40 month-end · −26.7% over 12 months

₹40₹45₹50₹55Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹40₹45₹50₹55Nov '25May '26Nov '26

₹40 month-end · −6.3% since Feb '25

₹40₹45₹50₹55Feb '25Jun '25Oct '25Mar '26Jul '26Nov '26 ₹40₹45₹50₹55Feb '25Jan '26Nov '26

52-week range ₹36.00 to ₹59.00 · 1-year volatility 58.4%

Was the rally earned?

-27%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 4 points, but investors now pay less per rupee of profit (P/E 17.9x to 12.5x), which took 31 points back.
  • The share count barely moved.
Net profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4 ptsNet profit growthP/E change: −31 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−31 ptsP/E changeShare price: −27%−27%Share priceNet profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4ProfitP/E change: −31 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−31P/EShare price: −27%−27%Share price
Net profit growth+4 ptsNet profit rose about 5%, which lifts the price.
P/E change-31 ptsThe P/E fell from 17.9x to 12.5x, which lowers the price.
Share count change0 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.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

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

Compare this with LARSEN AND TOUBRO

How rough has the ride been?

Maximum drawdown-45.9%not yet recovered
1-year volatility58.4%annualised

Drawdown from peak

0%−20%−40%2026−45.6% 0%−20%−40%2026−45.6%
Largest drawdowns

-45.9% (2025-02 peak to 2026-10 low, not yet recovered)

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial 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

  • ROCE52nd▼ 36 pts vs a year ago
  • Revenue growth68th
  • EPS growth52nd
  • Debt/equity ↓82nd▼ 13 pts vs a year ago
  • Cash cycle ↓55thflat vs a year ago
  • P/E ↓56th▲ 7 pts vs a year ago
  • 12M momentum49th

Rank history

ROCE
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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~18%annual earnings growth implied by the price

At a P/E of 24.5x, the price would imply about 17.6%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹40.00
P/E
12.5x
ROCE
15.2%
Market Cap
₹44 cr
Revenue (TTM)
₹32 cr
P/S
1.4x
P/B
1.5x
ROE
12.3%
Debt / Equity
0.1x
Promoter Holding
73.5%
12M Momentum
-26.7%

52-week range

₹36.00₹59.00
17% of the way from its 52-week low to its high

Price risk

1Y volatility
58.4%
Beta vs sector
1-year daily
0.84

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.23x
low
Share count, 1Y
unchanged

Are profits backed by cash?

1 of 4checks within range2 beyond a threshold
Other income reliance10%Within range

Other income as a share of pre-tax profit (trailing twelve months): 9.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion0.23xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.23x (cash from operations ₹2.1 cr, net profit ₹9.2 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—Not enough data

Not enough reported data to compute this.

Capital work in progress106% of fixed assetsBeyond threshold

Capital work-in-progress is 106% 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 →

What happened next to similar setups

+4.0%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 CHAMUNDA ELECTRICAL LIMITED today on valuation, return on capital, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −24% to +44% vs the market, against −7% for all non-financial companies in the same months.
  • The gap against the base rate (+10.7%, 80% range −2.8% to +18.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
PHANTOMFX · Sep 2025: −62.3% vs market
BAWEJA · Jul 2025: −60.2% vs market
SHREEOSFM · Sep 2025: −55.3% vs market
ADROITINFO · Jan 2025: −51.8% vs market
NOVAAGRI · Feb 2025: −49.9% vs market
TOUCHWOOD · Aug 2025: −47.3% vs market
NIDAN · Dec 2022: −45.5% vs market
ATAM · Oct 2025: −41.6% vs market
HGM · Aug 2025: −40.9% vs market
NILAINFRA · Aug 2025: −40.7% vs market
MAXPOSURE · Oct 2025: −38.5% vs market
CYBERTECH · Dec 2024: −30.9% vs market
SHRITECH · Dec 2024: −25.0% vs market
TUNWAL · Sep 2025: −21.7% vs market
FROG · Aug 2024: −19.9% vs market
AAKASH · Jun 2025: −17.1% vs market
QUESTLAB · Jul 2025: −14.3% vs market
SHAH · Sep 2025: −14.0% vs market
CANARYS · Sep 2025: −9.8% vs market
ORBTEXP · Jan 2024: −8.5% vs market
GRAPHISAD · Jan 2025: −8.3% vs market
COMPUSOFT · May 2023: −5.8% vs market
VETO · Jul 2022: −3.8% vs market
DEVIT · Nov 2023: −3.2% vs market
APOLSINHOT · Nov 2020: −1.7% vs market
OMFURN · Nov 2024: +9.7% vs market
PARTYCRUS · May 2025: +10.4% vs market
ICEMAKE · Mar 2020: +11.7% vs market
KEYFINSERV · Feb 2023: +13.3% vs market
ALPA · Jan 2023: +13.3% vs market
STEELCITY · Jun 2021: +14.3% vs market
ITALIANE · Feb 2025: +14.4% vs market
WEWIN · Feb 2023: +18.7% vs market
KAMATHOTEL · May 2020: +19.6% vs market
WEIZMANIND · Jan 2020: +31.4% vs market
AARVI · Apr 2020: +34.1% vs market
MADHAV · Feb 2020: +43.1% vs market
BHANDARI · Aug 2020: +44.8% vs market
DHRUV · Sep 2023: +45.0% vs market
INTENTECH · Apr 2020: +45.1% vs market
HINDCON · Jul 2022: +49.4% vs market
ASAHISONG · Jan 2020: +52.9% vs market
SAKAR · Mar 2022: +56.3% vs market
TRANSTEEL · Dec 2024: +57.5% vs market
PREMIERPOL · Apr 2023: +61.2% vs market
DBSTOCKBRO · Apr 2023: +68.1% vs market
RADHIKAJWE · Nov 2023: +84.6% vs market
KRISHANA · Jul 2020: +90.1% vs market
BETA · Apr 2020: +117.0% vs market
MINDTECK · Jul 2023: +132.1% vs market
Similar setups +4.0%All companies −6.7%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
+4.0%
All companies' median
−6.7%
Beat the market
50% vs 43%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CANARYS
Technology Services
Sep 2025 21x14% −29%−32% −10%
MADHAV
Non-Energy Minerals
Feb 2020 6x— −32%−37% +43%
BAWEJA
Consumer Services
Jul 2025 15x— −30%−30% −60%
HINDCON
Process Industries
Jul 2022 15x16% −17%−26% +49%
SHREEOSFM
Transportation
Sep 2025 17x20% −28%−34% −55%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ADROITINFO
Technology Services
Jan 2025 18x13% −1%−36% −52%
WEIZMANIND
Process Industries
Jan 2020 7x11% −39%−41% +31%
BETA
Health Technology
Apr 2020 6x18% −55%−55% +117%
How reliable is this?

Matched on P/E, P/S, ROCE, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, P/E and drawdown from 12-month high. Not used (unavailable for this company): operating margin and interest cover. 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 CHAMUNDA ELECTRICAL 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 changed?

7 events since Dec '25

  1. OctPriceFell 46% from the Feb 2025 peak to the Oct 2026 low.
  2. SepPeer rankMoved into the 2nd quartile of Industrial Services on EPS growth (from the 3rd quartile).
  3. JunResultsRevenue (TTM) reached a new high of ₹32 cr.
  4. JunPeer rankSlipped to the 2nd quartile of Industrial Services on ROCE (from the top quartile).
  5. FebDebtDebt / equity halved over 12 months to 0.00x.
  6. FebSharesShare count is up 200.0% over 12 months.
  7. DecInstitutionsFII + DII holding fell 9.9 pts over 1 quarter to 2.0%.

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 history22 months · 2025-02 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1112.5x₹32 cr12.3%15.2%0.1x
2026-1012.8x₹32 cr12.3%15.2%0.1x
2026-0914.0x₹32 cr12.3%15.2%0.1x
2026-0813.7x₹32 cr12.3%15.2%0.1x
2026-0713.4x₹32 cr12.3%15.2%0.1x
2026-0613.7x₹32 cr12.3%15.2%0.1x
2026-0514.7x₹25 cr13.4%30.6%0.0x
2026-0414.8x₹25 cr13.4%30.6%0.0x
2026-0312.7x₹25 cr13.4%30.6%0.0x
2026-0217.5x₹25 cr13.4%30.6%0.0x
2026-0115.8x₹25 cr13.4%30.6%0.0x
2025-1216.9x₹25 cr13.4%30.6%0.0x
2025-1117.9x₹25 cr13.4%30.6%0.0x
2025-1016.9x₹25 cr13.4%30.6%0.0x
2025-0917.4x₹25 cr13.4%30.6%0.0x
2025-0815.1x₹25 cr13.4%30.6%0.0x
2025-0715.2x₹25 cr13.4%30.6%0.0x
2025-0614.0x₹25 cr13.4%30.6%0.0x
2025-05—₹20 cr36.1%42.2%0.7x
2025-04—₹20 cr36.1%42.2%0.7x
2025-03—₹20 cr36.1%42.2%0.7x
2025-02—₹20 cr36.1%42.2%0.7x

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.

Feedback