DCW LIMITED (DCW): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹47.69 latest close · −5.4% over the last 90 sessions

₹47.69 month-end · −22.5% over 12 months

₹47.69 month-end · −7.2% over 3 years

₹47.69 month-end · +211.7% since Jan '19

52-week range ₹37.11 to ₹72.30 · 1-year volatility 48.8%

How rough has the ride been?

Maximum drawdown-68.1%recovered 2021-02

1-year volatility48.8%annualised

Beta vs sector index1.773-year daily, correlation 0.63

Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-68.1% (2019-04 peak to 2020-03 low, recovered 2021-02)

-66.0% (2024-11 peak to 2026-03 low, not yet recovered)

-46.3% (2021-10 peak to 2022-06 low, recovered 2024-01)

Most recent volume spikes

2026-09-23: 9.4x the 50-day median, price +4.2% that day

2026-09-07: 6x the 50-day median, price +4.4% that day

2026-09-02: 6.6x the 50-day median, price +6.8% 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).

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

ROCE10thflat vs a year ago
Revenue growth27th▼ 4 pts vs a year ago
Debt/equity ↓7thflat vs a year ago
Cash cycle ↓97thflat vs a year ago
12M momentum29th▲ 10 pts vs a year ago

Rank history

ROCE

Revenue growth

Debt/equity ↓

Cash cycle ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank

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?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

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

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

Key figures

Share Priceclose 9 Nov: ₹47.69
ROCE: 1.0%
Market Cap: ₹1408 cr
Revenue (TTM): ₹1253 cr
P/S: 1.1x
P/B: 2.5x
ROE: -1.5%
Debt / Equity: 1.4x
Promoter Holding: 45.6%
12M Momentum: -22.5%

52-week range

₹37.11₹72.30

30% of the way from its 52-week low to its high

Price risk

1Y volatility

48.8%

Beta vs sector

1-year daily

1.89

Balance sheet & cash

Interest cover

operating profit ÷ interest

0.7x

Cash from profit, 3Y

operating cash flow ÷ net profit

3.70x

Share count, 1Y

unchanged

Are profits backed by cash?

3 of 5checks within range2 beyond a threshold

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion3.70xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 3.70x (cash from operations ₹507 cr, net profit ₹137 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 history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (28 vs 28). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress134% of fixed assetsBeyond threshold

Capital work-in-progress is 134% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days0 days / 2 yrsWithin range

Days payable changed by 0 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 3 years, FIIs trimmed 2.3 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters45.1%45.6%+0.5 pts

FIIs8.4%6.1%-2.3 pts

DIIs0.1%0.1%-0.1 pts

Public and others46.4%48.3%+1.9 pts

Number of shareholders

1.1 lakhshareholders+1% since Sep '23

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

−4.5%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 DCW 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 −26% to +28% vs the market, against −2% for all non-financial companies in the same months.
The gap against the base rate (−2.5%, 80% range −13.4% to +1.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

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

−4.5%

All companies' median

−2.0%

Beat the market

42% vs 48%

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

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
KOLTEPATIL Finance	Jun 2024	—	2%	+28%	−24%	+5%
JAYNECOIND Producer Manufacturing	Jun 2025	—	3%	−21%	−30%	+123%
TIRUMALCHM Process Industries	May 2025	—	0%	−2%	−35%	−20%
INDORAMA Process Industries	Sep 2020	—	—	−23%	−26%	+31%
GTLINFRA Industrial Services	Oct 2025	—	4%	−30%	−38%	−28%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
RTNPOWER Utilities	Apr 2020	—	2%	−51%	−56%	+30%
SHIVAMAUTO Producer Manufacturing	Aug 2020	—	0%	−4%	−39%	−23%
DWARKESH Process Industries	Oct 2025	—	—	−31%	−35%	0%

How reliable is this?

Matched on P/S, ROCE, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: interest cover, 12-month momentum and drawdown from 12-month high. Not used (unavailable for this company): P/E and operating margin. This company is loss-making, so it was only compared with loss-making companies. 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 DCW 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

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.

ONIDA ELECTRONICSONIDA

Consumer Durables

71%similar

revenue growthdebt/equity

SIMPLEX INFRASTRUCTURES LIMITESIMPLEXINF

Industrial Services

67%similar

debt/equityROCE

HINDWARE HOME INNOVATIONHINDWAREAP

Producer Manufacturing

65%similar

volatilitymarket cap

SOLARA ACTIVE PHARMA SCIENSOLARA

Health Technology

61%similar

revenue growthrevenue

INDOCO REMEDIESINDOCO

Health Technology

60%similar

ROCEvolatility

THIRUMALAI CHEMICALSTIRUMALCHM

Process Industries

76%similar

debt/equitymarket cap

DHAMPUR BIO ORGANICSDBOL

Process Industries

72%similar

volatilitydebt/equity

CAMLIN FINE SCIENCESCAMLINFINE

Process Industries

62%similar

market cappromoter holding

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

What changed?

30 events since Aug '20

2026
SepPriceVolume reached 9.4x its 50-day median on 2026-09-23; price +4.2% that day.
MayPriceVolume reached 9.1x its 50-day median on 2026-05-05; price +5.2% that day.
MarPriceFell 66% from the Nov 2024 peak to the Mar 2026 low.
MarPriceVolume reached 5.6x its 50-day median on 2026-03-10; price +9.2% that day.
2025
NovPriceVolume reached 30.9x its 50-day median on 2025-11-04; price +7.9% that day.
JulPriceVolume reached 9.0x its 50-day median on 2025-07-24; price +6.3% that day.
JunPriceVolume reached 10.3x its 50-day median on 2025-06-27; price +3.5% that day.
2024
DecInstitutionsFII + DII holding rose 4.0 pts over 2 quarters to 11.3%.

Show 22 earlier events

2024
JulPriceRegained the 2024-02 peak, 4 months after the low.
JulPriceVolume reached 27.5x its 50-day median on 2024-07-29; price +14.7% that day.
JunPriceVolume reached 7.1x its 50-day median on 2024-06-20; price +5.4% that day.
MarPriceFell 31% from the Feb 2024 peak to the Mar 2024 low.
JanPriceRegained the 2021-10 peak, 19 months after the low.
JanPriceVolume reached 18.4x its 50-day median on 2024-01-09; price +9.9% that day.
2023
DecPriceVolume reached 6.6x its 50-day median on 2023-12-26; price +5.4% that day.
SepPriceVolume reached 16.3x its 50-day median on 2023-09-14; price +14.6% that day.
MayPriceVolume reached 7.6x its 50-day median on 2023-05-11; price -6.6% that day.
2022
AugPriceVolume reached 35.6x its 50-day median on 2022-08-18; price +14.4% that day.
JunPriceFell 46% from the Oct 2021 peak to the Jun 2022 low.
AprPriceVolume reached 6.7x its 50-day median on 2022-04-27; price +3.1% that day.
FebPriceVolume reached 9.4x its 50-day median on 2022-02-03; price +0.4% that day.
2021
OctPriceVolume reached 25.8x its 50-day median on 2021-10-05; price +18.9% that day.
SepPriceRegained the 2021-07 peak, 1 month after the low.
SepPriceVolume reached 11.6x its 50-day median on 2021-09-24; price +6.4% that day.
AugPriceFell 26% from the Jul 2021 peak to the Aug 2021 low.
AprPriceVolume reached 10.0x its 50-day median on 2021-04-23; price +12.4% that day.
MarPriceVolume reached 16.2x its 50-day median on 2021-03-09; price +1.3% that day.
FebPriceRegained the 2019-04 peak, 11 months after the low.
2020
DecPriceVolume reached 22.9x its 50-day median on 2020-12-18; price +8.2% that day.
AugPriceVolume reached 10.2x its 50-day median on 2020-08-24; price +12.9% 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 history95 months · 2019-01 to 2026-11

Month	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	₹1253 cr	-1.5%	1.0%	1.4x
2026-10	₹1253 cr	-1.5%	1.0%	1.4x
2026-09	₹1253 cr	-1.5%	1.0%	1.4x
2026-08	₹1253 cr	-1.5%	1.0%	1.4x
2026-07	₹1253 cr	-1.5%	1.0%	1.4x
2026-06	₹1253 cr	-1.5%	1.0%	1.4x
2026-05	₹1253 cr	-1.5%	1.0%	1.4x
2026-04	₹1253 cr	-1.5%	1.0%	1.4x
2026-03	₹1253 cr	-1.5%	1.0%	1.4x
2026-02	₹1253 cr	-1.5%	1.0%	1.4x
2026-01	₹1253 cr	-1.5%	1.0%	1.4x
2025-12	₹1253 cr	-1.5%	1.0%	1.4x
2025-11	₹1253 cr	-1.5%	1.0%	1.4x
2025-10	₹1253 cr	-1.5%	1.0%	1.4x
2025-09	₹1253 cr	-1.5%	1.0%	1.4x
2025-08	₹1253 cr	-1.5%	1.0%	1.4x
2025-07	₹1253 cr	-1.5%	1.0%	1.4x
2025-06	₹1253 cr	-1.5%	1.0%	1.4x
2025-05	₹1253 cr	-1.5%	1.0%	1.4x
2025-04	₹1253 cr	-1.5%	1.0%	1.4x
2025-03	₹1253 cr	-1.5%	1.0%	1.4x
2025-02	₹1253 cr	-1.5%	1.0%	1.4x
2025-01	₹1253 cr	-1.5%	1.0%	1.4x
2024-12	₹1253 cr	-1.5%	1.0%	1.4x
2024-11	₹1253 cr	-1.5%	1.0%	1.4x
2024-10	₹1253 cr	-1.5%	1.0%	1.4x
2024-09	₹1253 cr	-1.5%	1.0%	1.4x
2024-08	₹1253 cr	-1.5%	1.0%	1.4x
2024-07	₹1253 cr	-1.5%	1.0%	1.4x
2024-06	₹1253 cr	-1.5%	1.0%	1.4x
2024-05	₹1253 cr	-1.5%	1.0%	1.4x
2024-04	₹1253 cr	-1.5%	1.0%	1.4x
2024-03	₹1253 cr	-1.5%	1.0%	1.4x
2024-02	₹1253 cr	-1.5%	1.0%	1.4x
2024-01	₹1253 cr	-1.5%	1.0%	1.4x
2023-12	₹1253 cr	-1.5%	1.0%	1.4x
2023-11	₹1253 cr	-1.5%	1.0%	1.4x
2023-10	₹1253 cr	-1.5%	1.0%	1.4x
2023-09	₹1253 cr	-1.5%	1.0%	1.4x
2023-08	₹1253 cr	-1.5%	1.0%	1.4x
2023-07	₹1253 cr	-1.5%	1.0%	1.4x
2023-06	₹1253 cr	-1.5%	1.0%	1.4x
2023-05	₹1253 cr	-1.5%	1.0%	1.4x
2023-04	₹1253 cr	-1.5%	1.0%	1.4x
2023-03	₹1253 cr	-1.5%	1.0%	1.4x
2023-02	₹1253 cr	-1.5%	1.0%	1.4x
2023-01	₹1253 cr	-1.5%	1.0%	1.4x
2022-12	₹1253 cr	-1.5%	1.0%	1.4x
2022-11	₹1253 cr	-1.5%	1.0%	1.4x
2022-10	₹1253 cr	-1.5%	1.0%	1.4x
2022-09	₹1253 cr	-1.5%	1.0%	1.4x
2022-08	₹1253 cr	-1.5%	1.0%	1.4x
2022-07	₹1253 cr	-1.5%	1.0%	1.4x
2022-06	₹1253 cr	-1.5%	1.0%	1.4x
2022-05	₹1253 cr	-1.5%	1.0%	1.4x
2022-04	₹1253 cr	-1.5%	1.0%	1.4x
2022-03	₹1253 cr	-1.5%	1.0%	1.4x
2022-02	₹1253 cr	-1.5%	1.0%	1.4x
2022-01	₹1253 cr	-1.5%	1.0%	1.4x
2021-12	₹1253 cr	-1.5%	1.0%	1.4x
2021-11	₹1253 cr	-1.5%	1.0%	1.4x
2021-10	₹1253 cr	-1.5%	1.0%	1.4x
2021-09	₹1253 cr	-1.5%	1.0%	1.4x
2021-08	₹1253 cr	-1.5%	1.0%	1.4x
2021-07	₹1253 cr	-1.5%	1.0%	1.4x
2021-06	₹1253 cr	-1.5%	1.0%	1.4x
2021-05	₹1253 cr	-1.5%	1.0%	1.4x
2021-04	₹1253 cr	-1.5%	1.0%	1.4x
2021-03	₹1253 cr	-1.5%	1.0%	1.4x
2021-02	₹1253 cr	-1.5%	1.0%	1.4x
2021-01	₹1253 cr	-1.5%	1.0%	1.4x
2020-12	₹1253 cr	-1.5%	1.0%	1.4x
2020-11	₹1253 cr	-1.5%	1.0%	1.4x
2020-10	₹1253 cr	-1.5%	1.0%	1.4x
2020-09	₹1253 cr	-1.5%	1.0%	1.4x
2020-08	₹1253 cr	-1.5%	1.0%	1.4x
2020-07	₹1253 cr	-1.5%	1.0%	1.4x
2020-06	₹1253 cr	-1.5%	1.0%	1.4x
2020-05	₹1253 cr	-1.5%	1.0%	1.4x
2020-04	₹1253 cr	-1.5%	1.0%	1.4x
2020-03	₹1253 cr	-1.5%	1.0%	1.4x
2020-02	₹1253 cr	-1.5%	1.0%	1.4x
2020-01	₹1253 cr	-1.5%	1.0%	1.4x
2019-12	₹1253 cr	-1.5%	1.0%	1.4x
2019-11	₹1253 cr	-1.5%	1.0%	1.4x
2019-10	₹1253 cr	-1.5%	1.0%	1.4x
2019-09	₹1253 cr	-1.5%	1.0%	1.4x
2019-08	₹1253 cr	-1.5%	1.0%	1.4x
2019-07	₹1253 cr	-1.5%	1.0%	1.4x
2019-06	₹1253 cr	-1.5%	1.0%	1.4x
2019-05	₹1253 cr	-1.5%	1.0%	1.4x
2019-04	₹1253 cr	-1.5%	1.0%	1.4x
2019-03	₹1253 cr	-1.5%	1.0%	1.4x
2019-02	₹1253 cr	-1.5%	1.0%	1.4x
2019-01	₹1253 cr	-1.5%	1.0%	1.4x

Methodology and data notes