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AVENUE SUPERMARTS LTD DMART (DMART)

Retail Trade · Specialty Stores · 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.69 / 100
Profitability 56Growth 51Balance 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.47 / 100
Price 26Earnings 46FII/DII 69

Passes these screensDebt-light & profitable

Compare withLENSKART SOLUTIONSKALYAN JEWELLERS INDIABLUESTONE JEWELLERY N LIFEST

Share price

Closing priceAdjusted for splits and bonus issues.

₹3,466.9 latest close · −13.2% over the last 90 sessions

₹3,500₹4,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹3,500₹4,000Jul 3Sep 4Nov 9

₹3,466.9 month-end · −13.3% over 12 months

₹3,500₹4,000₹4,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹3,500₹4,000₹4,500Nov '25May '26Nov '26

₹3,466.9 month-end · −12.2% over 3 years

₹4,000₹5,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹4,000₹5,000Nov '23May '25Nov '26

₹3,466.9 month-end · +152.2% since Jan '19

₹2,000₹4,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,000₹4,000Jan '19Dec '22Nov '26

52-week range ₹3102.30 to ₹4644.00 · 1-year volatility 25.8%

Was the rally earned?

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

Earnings helped, the multiple did not.

  • Per-share earnings added 11 points, but investors now pay less per rupee of profit (P/E 96.0x to 73.9x), which took 24 points back.
  • The share count barely moved.
Net profit growth: +12 pts. Points of the price return explained by net profit growing (or shrinking).+12 ptsNet profit growthP/E change: −24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−24 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: −13%−13%Share priceNet profit growth: +12 pts. Points of the price return explained by net profit growing (or shrinking).+12ProfitP/E change: −24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−24P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −13%−13%Share price
Net profit growth+12 ptsNet profit rose about 13%, which lifts the price.
P/E change-24 ptsThe P/E fell from 96.0x to 73.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-12%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 23 points, but investors now pay less per rupee of profit (P/E 107.7x to 73.9x), which took 35 points back.
  • The share count barely moved.
Net profit growth: +24 pts. Points of the price return explained by net profit growing (or shrinking).+24 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: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: −12%−12%Share priceNet profit growth: +24 pts. Points of the price return explained by net profit growing (or shrinking).+24ProfitP/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: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −12%−12%Share price
Net profit growth+24 ptsNet profit rose about 29%, which lifts the price.
P/E change-35 ptsThe P/E fell from 107.7x to 73.9x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-26%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 88 points, but investors now pay less per rupee of profit (P/E 277.6x to 73.9x), which took 114 points back.
  • The share count barely moved.
Net profit growth: +88 pts. Points of the price return explained by net profit growing (or shrinking).+88 ptsNet profit growthP/E change: −114 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−114 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: −26%−26%Share priceNet profit growth: +88 pts. Points of the price return explained by net profit growing (or shrinking).+88ProfitP/E change: −114 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−114P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −26%−26%Share price
Net profit growth+88 ptsNet profit rose about 178%, which lifts the price.
P/E change-114 ptsThe P/E fell from 277.6x to 73.9x, 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 LENSKART SOLUTIONS

How rough has the ride been?

Maximum drawdown-41.9%not yet recovered
1-year volatility25.8%annualised
Beta vs sector index0.413-year daily, correlation 0.32
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−41.4% 0%−20%−40%2020202220242026−41.4%
Largest drawdowns

-41.9% (2024-09 peak to 2026-10 low, not yet recovered)

-39.3% (2021-10 peak to 2022-05 low, recovered 2024-09)

-28.9% (2020-02 peak to 2020-03 low, recovered 2020-12)

Most recent volume spikes

2026-10-12: 7.6x the 50-day median, price -4.3% that day

2026-10-05: 6.3x the 50-day median, price -6.5% that day

2026-08-26: 5.8x the 50-day median, price -2.1% 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?

73.9xP/E todayNear its historic low
Against its own history2nd percentile
CheapestMedian 114.3xDearest

Usual range 89.9x to 222.0x since 2019-01.

Against Retail Trade73.9x vs 22.4x
This company
73.9x
Sector median
22.4x

229% above the Retail Trade median.

16.9x103.8x190.7x277.6xJan '19Aug '20Mar '22Oct '23May '25Nov '2616.9x103.8x190.7x277.6xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianRetail Trade median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianRetail Trade 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 Retail Trade is valued

Where does it rank among Retail Trade peers?

Each cell is the company's percentile rank among its Retail Trade 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

  • ROCE65th▼ 10 pts vs a year ago
  • Op. margin47thflat vs a year ago
  • Revenue growth38th▼ 32 pts vs a year ago
  • EPS growth37th▼ 5 pts vs a year ago
  • Debt/equity ↓77th▼ 13 pts vs a year ago
  • Cash cycle ↓77th▼ 6 pts vs a year ago
  • P/E ↓15th▼ 4 pts vs a year ago
  • 12M momentum53rd▼ 39 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 Retail Trade sector page Watch it move against Retail Trade in the Observatory

What is the price implying?

~35%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 93.4x, a holder earning 12%/yr needs earnings to grow about 34.5%/yr for 10 years, then trade at 15x.

Delivered20.1%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+14.4 ptsimplied minus delivered
Rank235thmost demanding of 856

Over time

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

0%26%53% Jan 2019Nov 2026 0%26%53% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x36.3%37.5%38.7%
15x33.3%34.5%35.7%
20x29.5%30.7%31.8%

Drag a slider to test other assumptions

Implied: 34.5%/yr

Looking back

  • Jan 2020Price implied 41%/yr; EPS has since grown 18%/yr (7.0 yrs)
  • Jan 2021Price implied 39%/yr; EPS has since grown 15%/yr (6.0 yrs)
  • Jan 2022Price implied 51%/yr; EPS has since grown 22%/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 Retail Trade The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹3466.90
P/E
73.9x
ROCE
17.0%
Market Cap
₹2.26L cr
Revenue (TTM)
₹71256 cr
P/S
3.2x
P/B
9.2x
ROE
12.5%
Operating Margin
8.0%
Debt / Equity
0.1x
Promoter Holding
74.5%
12M Momentum
-13.3%

52-week range

₹3102.30₹4644.00
24% of the way from its 52-week low to its high

Price risk

1Y volatility
25.8%
Beta vs sector
1-year daily
0.47

Balance sheet & cash

Interest cover
operating profit ÷ interest
26.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.06x
Share count, 1Y
+0.2%

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance2%Within range

Other income as a share of pre-tax profit (trailing twelve months): 1.9%. 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 conversion1.06xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.06x (cash from operations ₹8,676 cr, net profit ₹8,213 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 history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (1 vs 1). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% 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 added 1.6 pts.
  • The number of shareholders fell from 8.2 lakh to 5.4 lakh (-34%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters74.6%74.5%-0.2 pts
FIIs7.7%9.2%+1.6 pts
DIIs8.3%8.7%+0.4 pts
Public and others9.4%7.5%-1.9 pts

Number of shareholders

5.4 lakhshareholders-34% since Sep '23
5.4L6.3L7.2L8.2L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 8.2 lakh
Dec '23: 7.4 lakh
Mar '24: 6.8 lakh
Jun '24: 6.2 lakh
Sep '24: 5.9 lakh
Dec '24: 7.1 lakh
Mar '25: 6.7 lakh
Jun '25: 6.2 lakh
Sep '25: 5.9 lakh
Dec '25: 6.0 lakh
Mar '26: 5.7 lakh
Jun '26: 5.4 lakh
 5.4L6.3L7.2L8.2L Sep '23Sep '24Sep '25Jun '26
Sep '23: 8.2 lakh
Dec '23: 7.4 lakh
Mar '24: 6.8 lakh
Jun '24: 6.2 lakh
Sep '24: 5.9 lakh
Dec '24: 7.1 lakh
Mar '25: 6.7 lakh
Jun '25: 6.2 lakh
Sep '25: 5.9 lakh
Dec '25: 6.0 lakh
Mar '26: 5.7 lakh
Jun '26: 5.4 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

−5.6%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like AVENUE SUPERMARTS LTD DMART 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 +12% vs the market, against −1% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −4.4%, 80% range −12.9% to −1.1%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
SRF · May 2023: −38.9% vs market
KANSAINER · Jun 2023: −38.6% vs market
BERGEPAINT · Dec 2023: −36.9% vs market
MRF · Feb 2021: −35.2% vs market
DEEPAKNTR · Mar 2025: −33.3% vs market
ATUL · Dec 2022: −31.8% vs market
KAJARIACER · Oct 2023: −31.7% vs market
WHIRLPOOL · Oct 2024: −31.4% vs market
DABUR · Jun 2023: −28.4% vs market
SUNDRMFAST · Nov 2023: −28.0% vs market
CROMPTON · Sep 2024: −24.2% vs market
DRREDDY · Feb 2021: −23.5% vs market
TECHM · Mar 2022: −23.1% vs market
ASIANPAINT · Jan 2023: −22.0% vs market
PIDILITIND · Jan 2023: −20.1% vs market
VGUARD · Oct 2025: −18.3% vs market
UBL · Jun 2020: −14.7% vs market
HONAUT · Oct 2025: −14.6% vs market
CIPLA · Apr 2021: −12.9% vs market
TIINDIA · Aug 2025: −12.8% vs market
ESCORTS · Nov 2023: −12.8% vs market
SHREECEM · Aug 2020: −12.4% vs market
CARBORUNIV · Sep 2023: −12.3% vs market
ZYDUSLIFE · Apr 2024: −8.3% vs market
ALKEM · Jan 2024: −6.3% vs market
VOLTAS · Jun 2021: −4.9% vs market
SYNGENE · Nov 2023: −3.3% vs market
HAVELLS · Jun 2023: −3.0% vs market
ASTRAL · Oct 2025: −2.2% vs market
TATACONSUM · Jun 2024: −0.7% vs market
GODREJCP · Aug 2023: +0.1% vs market
UNOMINDA · Jan 2023: +1.7% vs market
UNITDSPR · Apr 2023: +2.5% vs market
ENDURANCE · Sep 2023: +3.9% vs market
ULTRACEMCO · Jan 2024: +4.5% vs market
TITAN · Aug 2020: +9.7% vs market
CONCOR · May 2023: +11.6% vs market
RAMCOCEM · Apr 2020: +11.6% vs market
MARUTI · Apr 2022: +12.8% vs market
BOSCHLTD · May 2022: +16.3% vs market
THERMAX · Jun 2020: +20.3% vs market
ABB · Apr 2021: +22.7% vs market
SUNPHARMA · Jun 2021: +22.9% vs market
BIKAJI · Feb 2024: +26.7% vs market
PIIND · Jun 2022: +27.6% vs market
AMBUJACEM · Sep 2021: +28.4% vs market
EMAMILTD · May 2020: +47.7% vs market
SIEMENS · Nov 2023: +59.9% vs market
WIPRO · Apr 2020: +61.5% vs market
POLYCAB · Dec 2022: +68.1% vs market
Similar setups −5.6%All companies −1.2%← 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

Similar setups' median
−5.6%
All companies' median
−1.2%
Beat the market
40% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HAVELLS
Producer Manufacturing		 Jun 2023 75x22% +17%−8% −3%
SIEMENS
Producer Manufacturing		 Nov 2023 64x16% +32%−8% +60%
SUNPHARMA
Health Technology		 Jun 2021 56x13% +43%−5% +23%
VOLTAS
Producer Manufacturing		 Jun 2021 64x15% +87%−8% −5%
UBL
Consumer Non-Durables		 Jun 2020 64x17% −23%−27% −15%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GODREJCP
Consumer Non-Durables		 Aug 2023 60x17% +9%−8% 0%
BERGEPAINT
Process Industries		 Dec 2023 82x24% +25%−10% −37%
TATACONSUM
Consumer Non-Durables		 Jun 2024 93x11% +28%−13% −1%
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, drawdown from 12-month high and revenue growth. 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 AVENUE SUPERMARTS LTD DMART. 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.

SHYAM METALICS AND ENERGYSHYAMMETL
Producer Manufacturing
65%similar
promoter holdingdebt/equity
BOSCHBOSCHLTD
Producer Manufacturing
64%similar
market capP/E
ENDURANCE TECHNOLOGIESENDURANCE
Producer Manufacturing
63%similar
ROCErevenue growth
HONEYWELL AUTOMATION INDIAHONAUT
Electronic Technology
63%similar
ROCEEPS growth
LG ELECTRONICS INDIALGEINDIA
Consumer Durables
61%similar
P/Emarket cap
METRO BRANDSMETROBRAND
Retail Trade
27%similar
P/Evolatility
FSN ECOMMERCE VENTURES NYKAANYKAA
Retail Trade
26%similar
operating marginROCE
ETHOSETHOSLTD
Retail Trade
22%similar
P/Erevenue growth

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

What changed?

30 events since Jan '23

  1. OctPriceFell 42% from the Sep 2024 peak to the Oct 2026 low.
  2. OctPriceVolume reached 7.6x its 50-day median on 2026-10-12; price -4.3% that day.
  3. JulPriceVolume reached 6.3x its 50-day median on 2026-07-28; price -4.5% that day.
  4. MayValuationP/E fell below the 10th percentile of its own history to date (92.1x).
  5. AprPriceVolume reached 7.1x its 50-day median on 2026-04-01; price +7.9% that day.
  6. JanPeer rankSlipped to the 2nd quartile of Retail Trade on ROCE (from the top quartile).
  7. JanPriceVolume reached 6.4x its 50-day median on 2026-01-12; price +0.8% that day.
  8. NovValuationP/E fell below the 10th percentile of its own history to date (96.0x).
Show 22 earlier events
  1. NovPeer rankMoved into the top quartile of Retail Trade on ROCE (from the 2nd quartile).
  2. AugPeer rankSlipped to the 2nd quartile of Retail Trade on ROCE (from the top quartile).
  3. JulPriceVolume reached 8.7x its 50-day median on 2025-07-30; price +7.1% that day.
  4. JunPeer rankSlipped to the 3rd quartile of Retail Trade on EPS growth (from the 2nd quartile).
  5. JunPriceVolume reached 8.7x its 50-day median on 2025-06-10; price -2.4% that day.
  6. MayValuationP/E fell below the 10th percentile of its own history to date (95.7x).
  7. MarPeer rankSlipped to the 3rd quartile of Retail Trade on operating margin (from the 2nd quartile).
  8. JanPriceVolume reached 14.8x its 50-day median on 2025-01-03; price +11.5% that day.
  9. DecPeer rankMoved into the 2nd quartile of Retail Trade on EPS growth (from the 3rd quartile).
  10. OctValuationP/E fell below the 10th percentile of its own history to date (96.5x).
  11. OctPriceVolume reached 12.0x its 50-day median on 2024-10-14; price -8.5% that day.
  12. SepPriceRegained the 2021-10 peak, 28 months after the low.
  13. JunResultsRevenue (TTM) reached a new high of ₹50,789 cr.
  14. JunPeer rankSlipped to the 3rd quartile of Retail Trade on EPS growth (from the 2nd quartile).
  15. JunPriceVolume reached 5.6x its 50-day median on 2024-06-18; price +6.3% that day.
  16. MarPriceVolume reached 5.8x its 50-day median on 2024-03-26; price +4.4% that day.
  17. OctPriceVolume reached 6.4x its 50-day median on 2023-10-04; price +4.0% that day.
  18. JunResultsRevenue (TTM) reached a new high of ₹42,840 cr.
  19. JunValuationP/E fell below the 10th percentile of its own history to date (106.0x).
  20. JunPeer rankMoved into the top quartile of Retail Trade on ROCE (from the 2nd quartile).
  21. JunPriceVolume reached 8.9x its 50-day median on 2023-06-16; price +4.3% that day.
  22. JanPriceVolume reached 6.5x its 50-day median on 2023-01-16; price -4.8% 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
2026-1173.9x₹71256 cr12.5%17.0%0.1x
2026-1068.2x₹71256 cr12.5%17.0%0.1x
2026-0981.0x₹71256 cr12.5%17.0%0.1x
2026-0885.5x₹68821 cr12.1%17.0%0.1x
2026-0785.9x₹68821 cr12.1%17.0%0.1x
2026-0696.0x₹68821 cr12.1%17.0%0.1x
2026-0592.1x₹66009 cr13.4%18.0%0.0x
2026-04104.2x₹66009 cr13.4%18.0%0.0x
2026-0389.9x₹66009 cr13.4%18.0%0.0x
2026-0291.6x₹63881 cr12.8%18.0%0.0x
2026-0187.8x₹63881 cr12.8%18.0%0.0x
2025-1290.1x₹63881 cr12.8%18.0%0.0x
2025-1196.0x₹61649 cr12.6%18.0%0.0x
2025-1099.8x₹61649 cr12.6%18.0%0.0x
2025-09107.6x₹61649 cr12.6%18.0%0.0x
2025-08114.3x₹59358 cr12.6%18.0%0.0x
2025-07102.5x₹59358 cr12.6%18.0%0.0x
2025-06105.1x₹59358 cr12.6%18.0%0.0x
2025-0595.7x₹57213 cr14.5%19.0%0.0x
2025-04100.5x₹57213 cr14.5%19.0%0.0x
2025-0397.7x₹57213 cr14.5%19.0%0.0x
2025-0282.4x₹54812 cr14.4%19.0%0.0x
2025-0188.7x₹54812 cr14.4%19.0%0.0x
2024-1286.2x₹54812 cr14.4%19.0%0.0x
2024-1191.1x₹52992 cr14.2%19.0%0.0x
2024-1096.5x₹52992 cr14.2%19.0%0.0x
2024-09125.1x₹52992 cr14.2%19.0%0.0x
2024-08126.4x₹50789 cr13.6%19.0%0.0x
2024-07126.7x₹50789 cr13.6%19.0%0.0x
2024-06121.0x₹50789 cr13.6%19.0%0.0x
2024-05117.3x₹42840 cr14.8%20.0%0.0x
2024-04125.5x₹42840 cr14.8%20.0%0.0x
2024-03123.3x₹42840 cr14.8%20.0%0.0x
2024-02106.8x₹42840 cr14.8%20.0%0.0x
2024-01103.4x₹42840 cr14.8%20.0%0.0x
2023-12111.3x₹42840 cr14.8%20.0%0.0x
2023-11107.7x₹42840 cr14.8%20.0%0.0x
2023-1099.0x₹42840 cr14.8%20.0%0.0x
2023-09100.2x₹42840 cr14.8%20.0%0.0x
2023-08101.4x₹42840 cr14.8%20.0%0.0x
2023-07102.3x₹42840 cr14.8%20.0%0.0x
2023-06106.0x₹42840 cr14.8%20.0%0.0x
2023-05150.7x₹30976 cr10.9%16.0%0.0x
2023-04152.4x₹30976 cr10.9%16.0%0.0x
2023-03147.6x₹30976 cr10.9%16.0%0.0x
2023-02148.3x₹30976 cr10.9%16.0%0.0x
2023-01152.0x₹30976 cr10.9%16.0%0.0x
2022-12176.6x₹30976 cr10.9%16.0%0.0x
2022-11174.7x₹30976 cr10.9%16.0%0.0x
2022-10187.5x₹30976 cr10.9%16.0%0.0x
2022-09190.4x₹30976 cr10.9%16.0%0.0x
2022-08196.7x₹30976 cr10.9%16.0%0.0x
2022-07184.2x₹30976 cr10.9%16.0%0.0x
2022-06147.8x₹30976 cr10.9%16.0%0.0x
2022-05234.1x₹24143 cr9.0%13.0%0.0x
2022-04232.4x₹24143 cr9.0%13.0%0.0x
2022-03235.9x₹24143 cr9.0%13.0%0.0x
2022-02255.8x₹24143 cr9.0%13.0%0.0x
2022-01242.4x₹24143 cr9.0%13.0%0.0x
2021-12275.3x₹24143 cr9.0%13.0%0.0x

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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