Share price
₹686.7 latest close · −21.9% over the last 90 sessions
₹686.7 month-end · −2.8% over 12 months
₹686.7 month-end · −58.7% over 3 years
₹686.7 month-end · +183.8% since Jan '19
52-week range ₹559.00 to ₹960.35 · 1-year volatility 40.5%
Was the rally earned?
- The share price was roughly flat over 1 year (-3%).
- The share count barely moved.
Both mattered.
- Per-share earnings took off 34 points and the multiple took off 25 points (P/E 43.6x to 29.9x).
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 105 points, but investors now pay less per rupee of profit (P/E 35.4x to 29.9x), which took 23 points back.
- The share count fell 6%.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-74.8% (2023-07 peak to 2026-01 low, not yet recovered)
-62.6% (2019-05 peak to 2020-03 low, recovered 2021-02)
-35.7% (2022-10 peak to 2022-12 low, recovered 2023-03)
Is it expensive against its own past and its peers?
Usual range 16.6x to 106.6x since 2019-01.
46% below the Electronic Technology median.
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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.
Where does it rank among Electronic Technology peers?
Each cell is the company's percentile rank among its Electronic Technology 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
- ROCE17th▲ 4 pts vs a year ago
- Op. margin66th▲ 43 pts vs a year ago
- Revenue growth45th▼ 9 pts vs a year ago
- EPS growth97th▲ 85 pts vs a year ago
- Debt/equity ↓96thflat vs a year ago
- Cash cycle ↓55th▲ 38 pts vs a year ago
- P/E ↓67th▲ 53 pts vs a year ago
- 12M momentum50th▲ 33 pts vs a year ago
Rank history
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 Electronic Technology sector page Watch it move against Electronic Technology in the Observatory
What is the price implying?
At a P/E of 28.0x, the price would imply about 18.9%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Below the ₹1,000 cr market-cap floor used for the lists.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Electronic Technology The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹686.70
- P/E
- 29.9x
- ROCE
- 6.0%
- Market Cap
- ₹365 cr
- Revenue (TTM)
- ₹115 cr
- P/S
- 3.2x
- P/B
- 2.8x
- ROE
- 9.5%
- Operating Margin
- 16.1%
- Debt / Equity
- 0.0x
- Promoter Holding
- 53.7%
- 12M Momentum
- -2.8%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance52%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 52.0%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate26%Within range
Median quarterly effective tax rate over about 2.5 years: 25.6%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion1.03xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.03x (cash from operations ₹31 cr, net profit ₹30 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow4 of 5 yrsWithin range
Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-36 daysWithin range
Debtor days are below the median of the previous three fiscal years by 36 days (35 vs 71). 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+5 days / 2 yrsWithin range
Days payable changed by +5 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.
Who has been buying and selling?
- Over 2 years, FIIs added 0.6 pts.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like DE NORA 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 −17% to +22% vs the market, against −2% for all non-financial companies in the same months.
- The gap against the base rate (−2.2%, 80% range −8.1% to +4.3%) 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 · 1 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 40 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SREEL Consumer Non-Durables |
May 2023 | 29x | 7% | +20% | −14% | −7% |
| HINDCOMPOS Producer Manufacturing |
Apr 2023 | 19x | 3% | 0% | −26% | −4% |
| GEECEE Finance |
Jan 2022 | 31x | 4% | +83% | −18% | −6% |
| ANTELOPUS Energy Minerals |
Jul 2022 | 28x | 4% | +25% | −19% | +80% |
| IVC Finance |
Nov 2023 | 20x | 9% | +21% | −10% | −4% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| DENTALKART Retail Trade |
May 2025 | 51x | — | +13% | −25% | −30% |
| EIMCOELECO Producer Manufacturing |
Nov 2024 | 38x | 13% | +47% | −26% | −37% |
| GANGESSECU Finance |
Oct 2025 | 29x | 1% | −15% | −29% | −23% |
How reliable is this?
Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. Not used (unavailable for this company): 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.
What changed?
30 events since Mar '22
- SepPeer rankMoved into the 2nd quartile of Electronic Technology on operating margin (from the bottom quartile).
- JunPeer rankSlipped to the bottom quartile of Electronic Technology on operating margin (from the 3rd quartile).
- JunDividendStarted paying a dividend (payout 23% of profit).
- MarResultsYear-on-year EPS growth turned positive.
- MarPeer rankSlipped to the 3rd quartile of Electronic Technology on operating margin (from the top quartile).
- JanPriceFell 75% from the Jul 2023 peak to the Jan 2026 low.
- DecPeer rankMoved into the top quartile of Electronic Technology on operating margin (from the bottom quartile).
- SepResultsRevenue (TTM) reached a new high of ₹98 cr.
Show 22 earlier events
- SepPeer rankSlipped to the bottom quartile of Electronic Technology on operating margin (from the top quartile).
- JulPeer rankMoved into the top quartile of Electronic Technology on operating margin (from the bottom quartile).
- JunPeer rankSlipped to the bottom quartile of Electronic Technology on ROCE (from the 2nd quartile).
- JunDividendDividend payout cut from 6% to 0% of profit.
- MarValuationP/E crossed above the 90th percentile of its own history to date (90.8x).
- MarPeer rankSlipped to the bottom quartile of Electronic Technology on operating margin (from the 2nd quartile).
- DecResultsYear-on-year EPS growth turned negative.
- DecPeer rankSlipped to the 2nd quartile of Electronic Technology on operating margin (from the top quartile).
- SepResultsYear-on-year EPS growth turned positive.
- JulPeer rankSlipped to the 2nd quartile of Electronic Technology on ROCE (from the top quartile).
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Electronic Technology on EPS growth (from the 2nd quartile).
- JunPeer rankSlipped to the 2nd quartile of Electronic Technology on EPS growth (from the top quartile).
- MarPriceRegained the 2022-10 peak, 3 months after the low.
- DecPriceFell 36% from the Oct 2022 peak to the Dec 2022 low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPriceRegained the 2022-05 peak, 0 months after the low.
- JunPriceFell 25% from the May 2022 peak to the Jun 2022 low.
- JunPeer rankMoved into the top quartile of Electronic Technology on ROCE (from the 2nd quartile).
- JunDividendDividend payout cut from 9% to 3% of profit.
- AprPriceRegained the 2021-12 peak, 1 month after the low.
- MarPriceFell 29% from the Dec 2021 peak to the Mar 2022 low.
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 | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 29.9x | ₹115 cr | 9.5% | 6.0% | 0.0x |
| 2026-10 | 30.6x | ₹115 cr | 9.4% | 6.0% | 0.0x |
| 2026-09 | 32.1x | ₹115 cr | 9.4% | 6.0% | 0.0x |
| 2026-08 | 48.5x | ₹122 cr | 7.0% | 6.0% | 0.0x |
| 2026-07 | 53.2x | ₹122 cr | 7.0% | 6.0% | 0.0x |
| 2026-06 | 53.0x | ₹122 cr | 7.0% | 6.0% | 0.0x |
| 2026-05 | 28.9x | ₹120 cr | 10.9% | 1.0% | 0.0x |
| 2026-04 | 34.9x | ₹120 cr | 10.9% | 1.0% | 0.0x |
| 2026-03 | 27.8x | ₹120 cr | 10.9% | 1.0% | 0.0x |
| 2026-02 | 141.0x | ₹102 cr | 2.2% | 1.0% | 0.0x |
| 2026-01 | 123.4x | ₹102 cr | 2.2% | 1.0% | 0.0x |
| 2025-12 | 137.5x | ₹102 cr | 2.2% | 1.0% | 0.0x |
| 2025-11 | 182.1x | ₹98 cr | 1.7% | 1.0% | 0.0x |
| 2025-10 | 208.5x | ₹98 cr | 1.7% | 1.0% | 0.0x |
| 2025-09 | 213.6x | ₹98 cr | 1.7% | 1.0% | 0.0x |
| 2025-08 | 262.1x | ₹69 cr | 1.4% | 1.0% | 0.0x |
| 2025-07 | 279.5x | ₹69 cr | 1.4% | 1.0% | 0.0x |
| 2025-06 | 276.6x | ₹69 cr | 1.4% | 1.0% | 0.0x |
| 2025-05 | 109.6x | ₹65 cr | 3.4% | 22.0% | 0.0x |
| 2025-04 | 102.1x | ₹65 cr | 3.4% | 22.0% | 0.0x |
| 2025-03 | 90.8x | ₹65 cr | 3.4% | 22.0% | 0.0x |
| 2025-02 | 20.9x | ₹76 cr | 15.4% | 22.0% | 0.0x |
| 2025-01 | 25.8x | ₹76 cr | 15.4% | 22.0% | 0.0x |
| 2024-12 | 33.8x | ₹76 cr | 15.4% | 22.0% | 0.0x |
| 2024-11 | 31.3x | ₹77 cr | 18.0% | 22.0% | 0.0x |
| 2024-10 | 32.2x | ₹77 cr | 18.0% | 22.0% | 0.0x |
| 2024-09 | 37.8x | ₹77 cr | 18.0% | 22.0% | 0.0x |
| 2024-08 | 44.7x | ₹74 cr | 16.0% | 22.0% | 0.0x |
| 2024-07 | 47.3x | ₹74 cr | 16.0% | 22.0% | 0.0x |
| 2024-06 | 46.2x | ₹74 cr | 16.0% | 22.0% | 0.0x |
| 2024-05 | 39.4x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2024-04 | 50.6x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2024-03 | 42.5x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2024-02 | 42.6x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2024-01 | 37.6x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-12 | 40.2x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-11 | 43.6x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-10 | 46.2x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-09 | 39.5x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-08 | 42.9x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-07 | 46.8x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-06 | 45.1x | ₹74 cr | 19.8% | 30.0% | 0.0x |
| 2023-05 | 56.6x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2023-04 | 38.5x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2023-03 | 29.3x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2023-02 | 29.3x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2023-01 | 27.0x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-12 | 22.3x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-11 | 24.5x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-10 | 25.7x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-09 | 26.1x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-08 | 23.4x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-07 | 24.4x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-06 | 27.5x | ₹74 cr | 18.3% | 28.0% | 0.0x |
| 2022-05 | 69.4x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2022-04 | 55.7x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2022-03 | 37.6x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2022-02 | 35.8x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2022-01 | 43.1x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-12 | 43.7x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-11 | 35.4x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-10 | 31.2x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-09 | 30.2x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-08 | 29.9x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-07 | 35.6x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-06 | 31.6x | ₹51 cr | 9.0% | 12.0% | 0.0x |
| 2021-05 | 23.4x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2021-04 | 16.2x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2021-03 | 16.4x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2021-02 | 16.9x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2021-01 | 16.3x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-12 | 15.6x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-11 | 13.6x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-10 | 13.0x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-09 | 14.1x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-08 | 14.1x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-07 | 15.1x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-06 | 14.6x | ₹48 cr | 13.1% | 18.0% | 0.0x |
| 2020-05 | 57.4x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2020-04 | 55.3x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2020-03 | 44.6x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2020-02 | 74.1x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2020-01 | 74.2x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-12 | 77.8x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-11 | 70.5x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-10 | 68.1x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-09 | 68.5x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-08 | 66.9x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-07 | 77.0x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-06 | 78.3x | ₹33 cr | 3.0% | 4.0% | 0.0x |
| 2019-05 | 75.9x | ₹27 cr | 3.2% | 6.0% | 0.0x |
| 2019-04 | 96.1x | ₹27 cr | 3.2% | 6.0% | 0.0x |
| 2019-03 | 92.0x | ₹27 cr | 3.2% | 6.0% | 0.0x |
| 2019-02 | 92.7x | ₹27 cr | 3.2% | 6.0% | 0.0x |
| 2019-01 | 76.1x | ₹27 cr | 3.2% | 6.0% | 0.0x |