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DYNACONS SYSTEMS & SOLUTIONS (DSSL)

Technology Services · Information Technology Services · 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.51 / 100
Profitability 64Growth 74Balance sheet 15
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.46 / 100
Price 14Earnings 45FII/DII 79

Passes these screensQuality CompounderLittle growth priced inConsistent compounders

Compare withTATA CONSULTANCY SERVICESINFOSYSHCL TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,007.95 latest close · −23.5% over the last 90 sessions

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

₹1,007.95 month-end · +10.1% over 12 months

₹1,000₹1,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,000₹1,500Nov '25May '26Nov '26

₹1,007.95 month-end · +69.0% over 3 years

₹500₹1,000₹1,500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹500₹1,000₹1,500Nov '23May '25Nov '26

₹1,007.95 month-end · +3162.0% since Jan '19

₹0₹500₹1,000₹1,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹500₹1,000₹1,500Jan '19Dec '22Nov '26

52-week range ₹781.00 to ₹1924.80 · 1-year volatility 52.7%

Was the rally earned?

+10%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 14 points, but investors now pay less per rupee of profit (P/E 15.6x to 15.1x), which took 3 points back.
  • The share count barely moved.
Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 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: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +10%+10%Share priceNet profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14ProfitP/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: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +10%+10%Share price
Net profit growth+14 ptsNet profit rose about 15%, which lifts the price.
P/E change-3 ptsThe P/E fell from 15.6x to 15.1x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+69%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 122 points, but investors now pay less per rupee of profit (P/E 22.6x to 15.1x), which took 53 points back.
  • The share count barely moved.
Net profit growth: +124 pts. Points of the price return explained by net profit growing (or shrinking).+124 ptsNet profit growthP/E change: −53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−53 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +69%+69%Share priceNet profit growth: +124 pts. Points of the price return explained by net profit growing (or shrinking).+124ProfitP/E change: −53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−53P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +69%+69%Share price
Net profit growth+124 ptsNet profit rose about 157%, which lifts the price.
P/E change-53 ptsThe P/E fell from 22.6x to 15.1x, which lowers the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+632%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 656 points, but investors now pay less per rupee of profit (P/E 16.3x to 15.1x), which took 24 points back.
  • The share count rose 19%.
Net profit growth: +712 pts. Points of the price return explained by net profit growing (or shrinking).+712 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: −56 pts. Points of the price return explained by the share count changing. More shares count against the price.−56 ptsShare count changeShare price: +632%+632%Share priceNet profit growth: +712 pts. Points of the price return explained by net profit growing (or shrinking).+712ProfitP/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: −56 pts. Points of the price return explained by the share count changing. More shares count against the price.−56SharesShare price: +632%+632%Share price
Net profit growth+712 ptsNet profit rose about 842%, which lifts the price.
P/E change-24 ptsThe P/E fell from 16.3x to 15.1x, which lowers the price.
Share count change-56 ptsShare count rose 19%, which lowers 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 TATA CONSULTANCY SERVICES

How rough has the ride been?

Maximum drawdown-62.2%recovered 2020-10
1-year volatility52.7%annualised
Beta vs sector index0.653-year daily, correlation 0.23
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−58.5% 0%−20%−40%−60%2020202220242026−58.5%
Largest drawdowns

-62.2% (2019-01 peak to 2020-03 low, recovered 2020-10)

-50.9% (2025-01 peak to 2026-03 low, recovered 2026-05)

-49.9% (2026-05 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-10-08: 12x the 50-day median, price -0.2% 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?

15.1xP/E todayWithin its usual range
Against its own history38th percentile
CheapestMedian 17.7xDearest

Usual range 4.5x to 30.9x since 2019-01.

Against Technology Services15.1x vs 21.1x
This company
15.1x
Sector median
21.1x

28% below the Technology Services median.

2.6x17.8x33.0x48.2xJan '19Aug '20Mar '22Oct '23May '25Nov '262.6x17.8x33.0x48.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

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P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services 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 Technology Services is valued

Where does it rank among Technology Services peers?

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

  • ROCE83rd▼ 6 pts vs a year ago
  • Op. margin45th▲ 9 pts vs a year ago
  • Revenue growth45th▼ 23 pts vs a year ago
  • EPS growth56th▼ 16 pts vs a year ago
  • Debt/equity ↓8th▼ 4 pts vs a year ago
  • Cash cycle ↓82nd▼ 6 pts vs a year ago
  • P/E ↓70th▼ 12 pts vs a year ago
  • 12M momentum82nd▲ 49 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~12%annual earnings growth implied by the priceBelow delivered growth

At P/E of 15.1x, a holder earning 12%/yr needs earnings to grow about 12.1%/yr for 10 years, then trade at 15x.

Delivered51.3%/yrEPS, last 10 fiscal years · fitted trend
Gap−39.2 ptsimplied minus delivered
Rank843rdmost demanding of 856

Over time

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

-6%24%55% Jan 2019Nov 2026 -6%24%55% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x13.6%14.6%15.7%
15x11.1%12.1%13.1%
20x7.9%8.9%9.9%

Drag a slider to test other assumptions

Implied: 12.1%/yr

Looking back

  • Jan 2020Price implied −1%/yr; EPS has since grown 42%/yr (7.0 yrs)
  • Jan 2021Price implied 7%/yr; EPS has since grown 46%/yr (6.0 yrs)
  • Jan 2022Price implied 19%/yr; EPS has since grown 49%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1007.95
P/E
15.1x
ROCE
30.0%
Market Cap
₹1283 cr
Revenue (TTM)
₹1409 cr
P/S
0.9x
P/B
4.1x
ROE
26.9%
Operating Margin
13.0%
Debt / Equity
0.8x
Promoter Holding
60.9%
12M Momentum
10.1%

52-week range

₹781.00₹1924.80
20% of the way from its 52-week low to its high

Price risk

1Y volatility
52.7%
Beta vs sector
1-year daily
0.58

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.67x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance5%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.67xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.67x (cash from operations ₹141 cr, net profit ₹211 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+17 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 17 days (154 vs 137). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2% of fixed assetsWithin range

Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-21 days / 2 yrsWithin range

Days payable changed by -21 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 1.1 pts.
  • The number of shareholders rose from 21,973 to 41,418 (+88%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters61.1%60.9%-0.2 pts
FIIs0.0%1.1%+1.1 pts
DIIs0.0%0.3%+0.3 pts
Public and others38.9%37.7%-1.2 pts

Number of shareholders

41,418shareholders+88% since Sep '23
22k29k36k43k Sep '23Jun '24Dec '24Jun '25Dec '25Jun '26
Sep '23: 21,973
Mar '24: 27,723
Jun '24: 32,774
Sep '24: 36,084
Dec '24: 38,209
Mar '25: 40,699
Jun '25: 41,931
Sep '25: 41,997
Dec '25: 42,368
Mar '26: 43,055
Jun '26: 41,418
 22k29k36k43k Sep '23Dec '24Dec '25Jun '26
Sep '23: 21,973
Mar '24: 27,723
Jun '24: 32,774
Sep '24: 36,084
Dec '24: 38,209
Mar '25: 40,699
Jun '25: 41,931
Sep '25: 41,997
Dec '25: 42,368
Mar '26: 43,055
Jun '26: 41,418

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

−9.9%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like DYNACONS SYSTEMS & SOLUTIONS 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 −30% to +30% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −4.7%, 80% range −11.1% to −1.1%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
VPRPL · Apr 2025: −76.2% vs market
ZEEMEDIA · May 2022: −55.1% vs market
KRITI · Nov 2024: −51.0% vs market
AVG · Aug 2024: −50.0% vs market
UGARSUGAR · Sep 2023: −44.6% vs market
COSMOFIRST · Jul 2022: −39.4% vs market
APEX · Aug 2020: −36.0% vs market
SSWL · Dec 2023: −35.2% vs market
RADHIKAJWE · Jun 2025: −35.2% vs market
MEGATHERM · Mar 2025: −35.1% vs market
GEEKAYWIRE · Sep 2024: −34.0% vs market
DEEPAKFERT · Jan 2023: −31.3% vs market
AERON · Oct 2025: −29.7% vs market
AMNPLST · Nov 2024: −29.5% vs market
KHAICHEM · Aug 2022: −26.4% vs market
SURYAROSNI · Feb 2024: −25.8% vs market
SHIVATEX · Aug 2021: −20.6% vs market
INDOAMIN · Jul 2025: −19.4% vs market
20MICRONS · Jan 2025: −18.9% vs market
JINDALSTEL · Jun 2021: −17.2% vs market
TIRUMALCHM · Nov 2021: −16.3% vs market
DOLLAR · Dec 2022: −13.6% vs market
AGARIND · Sep 2023: −11.6% vs market
GPTINFRA · Jan 2025: −11.5% vs market
PDSL · Dec 2023: −10.7% vs market
SIYSIL · Jul 2025: −9.1% vs market
FILATEX · Dec 2021: −8.5% vs market
THANGAMAYL · Apr 2022: −7.2% vs market
KELLTONTEC · Sep 2024: −5.6% vs market
SPIC · Nov 2022: −4.6% vs market
DCMSHRIRAM · Jan 2020: −2.3% vs market
MANGLMCEM · Jun 2020: +3.7% vs market
GULFOILLUB · Nov 2024: +5.2% vs market
STARPAPER · Jul 2020: +9.6% vs market
STOVEKRAFT · May 2025: +9.8% vs market
TCPLPACK · Jun 2023: +20.0% vs market
HGINFRA · Jan 2022: +20.2% vs market
TIIL · Feb 2024: +33.6% vs market
BCLIND · Sep 2022: +38.5% vs market
DYCL · Mar 2024: +46.8% vs market
PGIL · Sep 2024: +49.9% vs market
IIFLCAPS · Mar 2024: +71.0% vs market
JASH · Dec 2021: +85.2% vs market
PITTIENG · Aug 2021: +91.5% vs market
PREMIERPOL · Sep 2025: +100.4% vs market
GRAVITA · Jan 2024: +105.0% vs market
NDTV · Dec 2020: +116.9% vs market
HFCL · Mar 2021: +153.3% vs market
THEJO · Apr 2020: +190.7% vs market
DPABHUSHAN · Jan 2021: +203.6% vs market
Similar setups −9.9%All companies −5.2%← 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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
−9.9%
All companies' median
−5.2%
Beat the market
38% vs 44%

50 past situations · 50 companies · 38 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
VPRPL
Industrial Services		 Apr 2025 20x25% +6%−48% −76%
DYCL
Producer Manufacturing		 Mar 2024 26x24% +124%−38% +47%
NDTV
Consumer Services		 Dec 2020 15x24% +52%−22% +117%
GPTINFRA
Industrial Services		 Jan 2025 20x22% +14%−45% −12%
SHIVATEX
Process Industries		 Aug 2021 27x— +103%−24% −21%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ZEEMEDIA
Miscellaneous		 May 2022 10x21% +63%−36% −55%
DPABHUSHAN
Miscellaneous		 Jan 2021 11x— +57%−27% +204%
INDOAMIN
Process Industries		 Jul 2025 19x18% −8%−38% −19%
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, interest cover and P/S. 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 DYNACONS SYSTEMS & SOLUTIONS. 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.

ALPEX SOLARALPEXSOLAR
Electronic Technology
71%similar
volatilitydebt/equity
SOLEX ENERGYSOLEX
Producer Manufacturing
69%similar
revenueROCE
MODISONMODISONLTD
Producer Manufacturing
68%similar
ROCEmarket cap
ORIANA POWERORIANA
Industrial Services
67%similar
volatilitydebt/equity
INDO AMINESINDOAMIN
Process Industries
62%similar
debt/equityrevenue
R SYSTEMS INTERNATIONALRSYSTEMS
Technology Services
49%similar
P/Evolatility
SAKSOFTSAKSOFT
Technology Services
46%similar
P/EROCE
MAGELLANIC CLOUDMCLOUD
Technology Services
43%similar
market capP/E

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

What changed?

30 events since Aug '23

  1. OctPriceFell 50% from the May 2026 peak to the Oct 2026 low.
  2. OctPriceVolume reached 12.0x its 50-day median on 2026-10-08; price -0.2% that day.
  3. MayPriceRegained the 2025-01 peak, 2 months after the low.
  4. MayPriceVolume reached 57.5x its 50-day median on 2026-05-05; price +12.1% that day.
  5. MarPriceFell 51% from the Jan 2025 peak to the Mar 2026 low.
  6. JanPriceVolume reached 23.2x its 50-day median on 2026-01-07; price +8.1% that day.
  7. DecPriceVolume reached 411.4x its 50-day median on 2025-12-12; price +13.3% that day.
  8. JunPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).
Show 22 earlier events
  1. JunPriceVolume reached 6.9x its 50-day median on 2025-06-16; price +7.7% that day.
  2. MarPeer rankMoved into the 3rd quartile of Technology Services on operating margin (from the bottom quartile).
  3. JanPriceRegained the 2024-08 peak, 3 months after the low.
  4. JanDebtDebt / equity halved over 12 months to 0.23x.
  5. JanPriceVolume reached 15.2x its 50-day median on 2025-01-02; price +10.9% that day.
  6. DecPriceVolume reached 18.8x its 50-day median on 2024-12-02; price +8.1% that day.
  7. OctPriceFell 26% from the Aug 2024 peak to the Oct 2024 low.
  8. SepPeer rankSlipped to the bottom quartile of Technology Services on operating margin (from the 3rd quartile).
  9. AugPriceRegained the 2024-04 peak, 2 months after the low.
  10. AugValuationP/E crossed above the 90th percentile of its own history to date (36.0x).
  11. AugPriceVolume reached 19.1x its 50-day median on 2024-08-13; price +13.7% that day.
  12. JunResultsRevenue (TTM) reached a new high of ₹1,025 cr.
  13. JunPriceFell 25% from the Apr 2024 peak to the Jun 2024 low.
  14. JunDebtDebt / equity halved over 12 months to 0.23x.
  15. JunDividendDividend payout cut from 2% to 0% of profit.
  16. AprPriceVolume reached 23.1x its 50-day median on 2024-04-18; price +10.3% that day.
  17. MarPriceVolume reached 50.5x its 50-day median on 2024-03-28; price +9.7% that day.
  18. FebPriceRegained the 2023-10 peak, 3 months after the low.
  19. FebValuationP/E crossed above the 90th percentile of its own history to date (33.1x).
  20. NovPriceFell 26% from the Oct 2023 peak to the Nov 2023 low.
  21. OctPriceVolume reached 12.7x its 50-day median on 2023-10-31; price +9.2% that day.
  22. AugValuationP/E crossed above the 90th percentile of its own history to date (27.2x).

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
2026-1115.1x₹1409 cr26.9%30.0%0.8x
2026-1014.2x₹1409 cr27.3%30.0%0.8x
2026-0914.8x₹1409 cr27.3%30.0%0.8x
2026-0815.7x₹1424 cr27.3%30.0%0.8x
2026-0718.5x₹1424 cr27.3%30.0%0.8x
2026-0620.5x₹1424 cr27.3%30.0%0.8x
2026-0526.5x₹1351 cr36.8%39.0%0.6x
2026-0416.5x₹1351 cr36.8%39.0%0.6x
2026-0311.9x₹1351 cr36.8%39.0%0.6x
2026-0215.0x₹1321 cr34.2%39.0%0.6x
2026-0114.8x₹1321 cr34.2%39.0%0.6x
2025-1216.4x₹1321 cr34.2%39.0%0.6x
2025-1115.6x₹1275 cr32.0%39.0%0.6x
2025-1015.8x₹1275 cr32.0%39.0%0.6x
2025-0914.7x₹1275 cr32.0%39.0%0.6x
2025-0817.3x₹1267 cr31.2%39.0%0.6x
2025-0717.6x₹1267 cr31.2%39.0%0.6x
2025-0619.0x₹1267 cr31.2%39.0%0.6x
2025-0520.3x₹1220 cr43.0%44.0%0.2x
2025-0419.6x₹1220 cr43.0%44.0%0.2x
2025-0319.2x₹1220 cr43.0%44.0%0.2x
2025-0221.2x₹1136 cr39.9%44.0%0.2x
2025-0124.3x₹1136 cr39.9%44.0%0.2x
2024-1227.7x₹1136 cr39.9%44.0%0.2x
2024-1129.6x₹1050 cr36.7%44.0%0.2x
2024-1028.1x₹1050 cr36.7%44.0%0.2x
2024-0930.8x₹1050 cr36.7%44.0%0.2x
2024-0836.0x₹1025 cr34.2%44.0%0.2x
2024-0730.9x₹1025 cr34.2%44.0%0.2x
2024-0626.7x₹1025 cr34.2%44.0%0.2x
2024-0545.3x₹804 cr31.4%36.0%0.7x
2024-0448.2x₹804 cr31.4%36.0%0.7x
2024-0339.0x₹804 cr31.4%36.0%0.7x
2024-0233.1x₹804 cr31.4%36.0%0.7x
2024-0124.8x₹804 cr31.4%36.0%0.7x
2023-1223.5x₹804 cr31.4%36.0%0.7x
2023-1122.6x₹804 cr31.4%36.0%0.7x
2023-1030.4x₹804 cr31.4%36.0%0.7x
2023-0926.4x₹804 cr31.4%36.0%0.7x
2023-0827.2x₹804 cr31.4%36.0%0.7x
2023-0722.1x₹804 cr31.4%36.0%0.7x
2023-0618.7x₹804 cr31.4%36.0%0.7x
2023-0532.0x₹654 cr23.5%28.0%0.9x
2023-0426.1x₹654 cr23.5%28.0%0.9x
2023-0321.5x₹654 cr23.5%28.0%0.9x
2023-0224.3x₹654 cr23.5%28.0%0.9x
2023-0133.0x₹654 cr23.5%28.0%0.9x
2022-1224.2x₹654 cr23.5%28.0%0.9x
2022-1122.1x₹654 cr23.5%28.0%0.9x
2022-1018.7x₹654 cr23.5%28.0%0.9x
2022-0918.1x₹654 cr23.5%28.0%0.9x
2022-0819.5x₹654 cr23.5%28.0%0.9x
2022-0721.3x₹654 cr23.5%28.0%0.9x
2022-0621.9x₹654 cr23.5%28.0%0.9x
2022-0536.4x₹436 cr18.4%22.0%0.9x
2022-0437.1x₹436 cr18.4%22.0%0.9x
2022-0325.0x₹436 cr18.4%22.0%0.9x
2022-0225.3x₹436 cr18.4%22.0%0.9x
2022-0127.2x₹436 cr18.4%22.0%0.9x
2021-1219.5x₹436 cr18.4%22.0%0.9x

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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