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EDELWEISS FINANCIAL SERVICES L (EDELWEISS)

Finance · Investment Banks/Brokers · 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.36 / 100
Profitability 57Growth 44Balance sheet 6
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.48 / 100
Price 80Earnings 50FII/DII 13
Compare withBSEBILLIONBRAINS GARAGE VENTURESMULTI COMMODITY EXCHANGE

Share price

Closing priceAdjusted for splits and bonus issues.

₹127.65 latest close · +2.7% over the last 90 sessions

₹120₹130₹140Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹120₹130₹140Jul 3Sep 4Nov 9

₹127.65 month-end · +15.8% over 12 months

₹100₹120₹140Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹100₹120₹140Nov '25May '26Nov '26

₹127.65 month-end · +69.3% over 3 years

₹75₹100₹125₹150Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹75₹100₹125₹150Nov '23May '25Nov '26

₹127.65 month-end · +22.7% since Jan '19

₹50₹100₹150Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹50₹100₹150Jan '19Dec '22Nov '26

52-week range ₹98.00 to ₹146.00 · 1-year volatility 40.2%

Was the rally earned?

+16%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 42 points, but investors now pay less per rupee of profit (P/E 25.6x to 20.0x), which took 26 points back.
  • The share count fell 13%.
Net profit growth: +27 pts. Points of the price return explained by net profit growing (or shrinking).+27 ptsNet profit growthP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26 ptsP/E changeShare count change: +15 pts. Points of the price return explained by the share count changing. More shares count against the price.+15 ptsShare count changeShare price: +16%+16%Share priceNet profit growth: +27 pts. Points of the price return explained by net profit growing (or shrinking).+27ProfitP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26P/EShare count change: +15 pts. Points of the price return explained by the share count changing. More shares count against the price.+15SharesShare price: +16%+16%Share price
Net profit growth+27 ptsNet profit rose about 29%, which lifts the price.
P/E change-26 ptsThe P/E fell from 25.6x to 20.0x, which lowers the price.
Share count change+15 ptsShare count fell 13%, which lifts the price.
+69%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 73 points, but investors now pay less per rupee of profit (P/E 20.7x to 20.0x), which took 4 points back.
  • The share count barely moved.
Net profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74 ptsNet profit growthP/E change: −4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−4 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: +69%+69%Share priceNet profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74ProfitP/E change: −4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−4P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +69%+69%Share price
Net profit growth+74 ptsNet profit rose about 75%, which lifts the price.
P/E change-4 ptsThe P/E fell from 20.7x to 20.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+182%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 142 points to the rise, while the multiple moved less (P/E 16.0x to 20.0x).
  • The share count rose 25%.
Net profit growth: +181 pts. Points of the price return explained by net profit growing (or shrinking).+181 ptsNet profit growthP/E change: +40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+40 ptsP/E changeShare count change: −39 pts. Points of the price return explained by the share count changing. More shares count against the price.−39 ptsShare count changeShare price: +182%+182%Share priceNet profit growth: +181 pts. Points of the price return explained by net profit growing (or shrinking).+181ProfitP/E change: +40 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+40P/EShare count change: −39 pts. Points of the price return explained by the share count changing. More shares count against the price.−39SharesShare price: +182%+182%Share price
Net profit growth+181 ptsNet profit rose about 180%, which lifts the price.
P/E change+40 ptsThe P/E rose from 16.0x to 20.0x, which lifts the price.
Share count change-39 ptsShare count rose 25%, 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 BSE

How rough has the ride been?

Maximum drawdown-84.6%recovered 2024-09
1-year volatility40.2%annualised
Beta vs sector index1.283-year daily, correlation 0.48
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−83.0% 0%−25%−50%−75%2020202220242026−83.0%
Largest drawdowns

-84.6% (2019-06 peak to 2020-03 low, recovered 2024-09)

-47.2% (2024-09 peak to 2025-04 low, recovered 2026-09)

-30.3% (2019-01 peak to 2019-02 low, recovered 2019-03)

Most recent volume spikes

2026-09-10: 5.9x the 50-day median, price +2.3% that day

2026-09-08: 8.7x the 50-day median, price +4.6% that day

2026-09-07: 8.1x the 50-day median, price -2.5% 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?

20.0xP/E todayWithin its usual range
Against its own history61st percentile
CheapestMedian 18.9xDearest

Usual range 7.1x to 24.8x since 2019-01.

Against Finance20.0x vs 18.1x
This company
20.0x
Sector median
18.1x

11% above the Finance median.

2.4x12.0x21.6x31.2xJan '19Aug '20Mar '22Oct '23May '25Nov '262.4x12.0x21.6x31.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianFinance 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 Finance is valued

Where does it rank among Finance peers?

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

  • ROCE68th▲ 8 pts vs a year ago
  • Op. margin46th▼ 7 pts vs a year ago
  • Revenue growth52nd▲ 20 pts vs a year ago
  • EPS growth82nd▲ 39 pts vs a year ago
  • Debt/equity ↓4thflat vs a year ago
  • Cash cycle ↓62ndflat vs a year ago
  • P/E ↓53rdflat vs a year ago
  • 12M momentum82nd▲ 19 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

~18%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 30.2x, a holder earning 12%/yr needs earnings to grow about 18.1%/yr for 10 years, then trade at 15x.

Delivered−5.6%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+23.6 ptsimplied minus delivered
Rank98thmost demanding of 856

Over time

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

-10%11%32% Jan 2019Nov 2026 -10%11%32% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x19.4%20.4%21.5%
15x17.0%18.1%19.1%
20x14.0%15.0%16.0%

Drag a slider to test other assumptions

Implied: 18.1%/yr

Looking back

  • Jan 2020Price implied 0%/yr; EPS has since grown −7%/yr (7.0 yrs)
  • Jan 2022Price implied 20%/yr; EPS has since grown 20%/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 Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹127.65
P/E
20.0x
ROCE
14.0%
Market Cap
₹12105 cr
Revenue (TTM)
₹10507 cr
P/S
1.2x
P/B
2.6x
ROE
13.1%
Operating Margin
25.0%
Debt / Equity
4.0x
Promoter Holding
32.3%
12M Momentum
15.8%

52-week range

₹98.00₹146.00
62% of the way from its 52-week low to its high

Price risk

1Y volatility
40.2%
Beta vs sector
1-year daily
1.24

Balance sheet & cash

Interest cover
operating profit ÷ interest
1.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
4.11x
Share count, 1Y
+3.3%

Are profits backed by cash?

4 of 6checks within range1 beyond a threshold
Other income reliance54%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 53.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate11%Near threshold

Median quarterly effective tax rate over about 2.5 years: 10.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion4.11xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 4.11x (cash from operations ₹7,175 cr, net profit ₹1,744 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+1 daysWithin range

Debtor days are above the median of the previous three fiscal years by 1 days (16 vs 15). 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—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, FIIs trimmed 11.8 pts; DIIs added 4.6 pts; promoters trimmed 0.5 pts.
  • The number of shareholders rose from 2.2 lakh to 3.5 lakh (+57%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters32.8%32.3%-0.5 pts
FIIs31.3%19.5%-11.8 pts
DIIs2.6%7.3%+4.6 pts
Public and others28.6%41.0%+12.5 pts

Number of shareholders

3.5 lakhshareholders+57% since Sep '23
2.2L2.7L3.2L3.8L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 2.2 lakh
Dec '23: 2.4 lakh
Mar '24: 2.3 lakh
Jun '24: 2.4 lakh
Sep '24: 2.3 lakh
Dec '24: 2.5 lakh
Mar '25: 2.6 lakh
Jun '25: 2.6 lakh
Sep '25: 2.8 lakh
Dec '25: 2.9 lakh
Mar '26: 3.8 lakh
Jun '26: 3.5 lakh
 2.2L2.7L3.2L3.8L Sep '23Sep '24Sep '25Jun '26
Sep '23: 2.2 lakh
Dec '23: 2.4 lakh
Mar '24: 2.3 lakh
Jun '24: 2.4 lakh
Sep '24: 2.3 lakh
Dec '24: 2.5 lakh
Mar '25: 2.6 lakh
Jun '25: 2.6 lakh
Sep '25: 2.8 lakh
Dec '25: 2.9 lakh
Mar '26: 3.8 lakh
Jun '26: 3.5 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

−5.1%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 EDELWEISS FINANCIAL SERVICES L 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 +28% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (−0.3%, 80% range −7.5% to +8.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DBL · Feb 2021: −67.0% vs market
NACLIND · May 2023: −54.1% vs market
UGARSUGAR · Mar 2023: −52.2% vs market
ARIHANTSUP · Oct 2025: −47.6% vs market
PNCINFRA · May 2024: −46.4% vs market
STLTECH · Jun 2021: −43.9% vs market
KESORAMIND · Jun 2021: −40.3% vs market
RAIN · Jul 2021: −37.4% vs market
ASHOKA · Mar 2021: −31.8% vs market
ATL · Sep 2025: −29.9% vs market
JMFINANCIL · Mar 2020: −27.4% vs market
PITTIENG · Aug 2024: −26.4% vs market
ARVINDFASN · Jul 2025: −23.4% vs market
SAMHI · Sep 2025: −22.0% vs market
TCPLPACK · Jan 2025: −20.2% vs market
NETWORK18 · Aug 2020: −19.4% vs market
GMRP&UI · Oct 2025: −16.8% vs market
JKTYRE · Nov 2023: −16.5% vs market
TVSHLTD · Oct 2025: −15.1% vs market
KOLTEPATIL · Jul 2025: −11.9% vs market
CANTABIL · Aug 2025: −10.6% vs market
KPIL · May 2024: −9.3% vs market
PRSMJOHNSN · Aug 2021: −9.0% vs market
GODREJIND · Jan 2024: −8.5% vs market
TATACOMM · Oct 2025: −5.6% vs market
ASTERDM · Apr 2023: −4.6% vs market
CESC · Jun 2025: +1.4% vs market
MHRIL · Jun 2023: +3.5% vs market
ORIENTCEM · Apr 2021: +5.9% vs market
M&M · May 2020: +6.3% vs market
VRLLOG · Aug 2025: +6.6% vs market
CHAMBLFERT · Jan 2020: +10.4% vs market
IRB · Oct 2023: +11.1% vs market
ADANIPOWER · Feb 2022: +19.3% vs market
JKPAPER · Jul 2021: +23.4% vs market
TVSMOTOR · Jul 2023: +24.6% vs market
EIDPARRY · Mar 2020: +27.3% vs market
PCBL · Jul 2024: +28.6% vs market
CCL · Jul 2025: +28.6% vs market
PURVA · Nov 2020: +29.8% vs market
JSL · Feb 2020: +34.1% vs market
NLCINDIA · Aug 2023: +43.2% vs market
HATSUN · Sep 2020: +46.9% vs market
PRIVISCL · Dec 2024: +50.8% vs market
ASHOKLEY · Mar 2025: +55.1% vs market
KIRLOSENG · Oct 2025: +89.8% vs market
TATAPOWER · Feb 2021: +95.3% vs market
TI · Oct 2022: +105.6% vs market
STEELXIND · Jul 2021: +117.1% vs market
KALYANKJIL · Oct 2022: +156.5% vs market
Similar setups −5.1%All companies −4.8%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−5.1%
All companies' median
−4.8%
Beat the market
48% vs 45%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ASHOKLEY
Producer Manufacturing		 Mar 2025 21x15% +23%−22% +55%
GODREJIND
Process Industries		 Jan 2024 31x8% +110%0% −9%
KIRLOSENG
Producer Manufacturing		 Oct 2025 31x14% −13%−16% +90%
TATAPOWER
Utilities		 Feb 2021 25x8% +104%−1% +95%
GMRP&UI
Industrial Services		 Oct 2025 45x13% −1%−14% −17%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TVSHLTD
Consumer Durables		 Oct 2025 24x15% +22%−2% −15%
CESC
Utilities		 Jun 2025 16x11% +9%−15% +1%
PNCINFRA
Industrial Services		 May 2024 20x15% +65%−7% −46%
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, ROCE 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 EDELWEISS FINANCIAL SERVICES L. 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.

ASHOK LEYLANDASHOKLEY
Producer Manufacturing
62%similar
ROCEdebt/equity
STRIDES PHARMA SCIENCESTAR
Health Technology
62%similar
promoter holdingmarket cap
EPLEPL
Process Industries
58%similar
EPS growthP/E
IRB INFRASTRUCTURE DEVELOPERSIRB
Industrial Services
58%similar
promoter holdingrevenue growth
UFLEXUFLEX
Process Industries
58%similar
revenuevolatility
BRIGADE ENTERPRISESBRIGADE
Finance
67%similar
market cappromoter holding
JM FINANCIALJMFINANCIL
Finance
60%similar
EPS growthvolatility
ANGEL ONEANGELONE
Finance
55%similar
promoter holdingROCE

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

What changed?

30 events since Jul '22

  1. SepPriceRegained the 2024-09 peak, 17 months after the low.
  2. SepPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  3. SepPriceVolume reached 8.7x its 50-day median on 2026-09-08; price +4.6% that day.
  4. JunPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
  5. MarResultsYear-on-year EPS growth turned positive.
  6. MarPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  7. FebValuationP/E crossed above the 90th percentile of its own history to date (25.4x).
  8. FebPriceVolume reached 17.1x its 50-day median on 2026-02-10; price +9.2% that day.
Show 22 earlier events
  1. DecInstitutionsFII + DII holding fell 6.6 pts over 2 quarters to 24.8%.
  2. AugPriceVolume reached 9.4x its 50-day median on 2025-08-26; price +7.0% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunValuationP/E crossed above the 90th percentile of its own history to date (27.5x).
  5. MayPriceVolume reached 6.4x its 50-day median on 2025-05-14; price +1.3% that day.
  6. AprPriceFell 47% from the Sep 2024 peak to the Apr 2025 low.
  7. SepPriceRegained the 2019-06 peak, 54 months after the low.
  8. AugValuationP/E crossed above the 90th percentile of its own history to date (24.5x).
  9. AugPriceVolume reached 12.2x its 50-day median on 2024-08-09; price +14.2% that day.
  10. JunPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the top quartile).
  11. AprPriceVolume reached 9.1x its 50-day median on 2024-04-03; price +5.0% that day.
  12. OctPriceVolume reached 24.5x its 50-day median on 2023-10-05; price +12.1% that day.
  13. AugPriceVolume reached 21.0x its 50-day median on 2023-08-14; price +8.1% that day.
  14. JunResultsYear-on-year EPS growth turned positive.
  15. JunPeer rankMoved into the top quartile of Finance on EPS growth (from the bottom quartile).
  16. AprValuationP/E crossed above the 90th percentile of its own history to date (22.2x).
  17. AprPriceVolume reached 28.3x its 50-day median on 2023-04-28; price +15.8% that day.
  18. JanPriceVolume reached 7.7x its 50-day median on 2023-01-13; price +6.0% that day.
  19. NovValuationP/E crossed above the 90th percentile of its own history to date (22.5x).
  20. NovPriceVolume reached 17.8x its 50-day median on 2022-11-23; price +6.9% that day.
  21. SepPriceVolume reached 17.9x its 50-day median on 2022-09-07; price +6.6% that day.
  22. JulValuationP/E crossed above the 90th percentile of its own history to date (19.6x).

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
2026-1120.0x₹10507 cr13.1%14.0%4.0x
2026-1019.0x₹10507 cr13.1%14.0%4.0x
2026-0922.4x₹10507 cr13.1%14.0%4.0x
2026-0822.0x₹10425 cr12.5%14.0%4.0x
2026-0719.9x₹10425 cr12.5%14.0%4.0x
2026-0620.9x₹10425 cr12.5%14.0%4.0x
2026-0518.9x₹10787 cr13.6%13.0%4.1x
2026-0419.1x₹10787 cr13.6%13.0%4.1x
2026-0316.7x₹10787 cr13.6%13.0%4.1x
2026-0225.4x₹8285 cr11.3%13.0%4.1x
2026-0123.7x₹8285 cr11.3%13.0%4.1x
2025-1224.0x₹8285 cr11.3%13.0%4.1x
2025-1125.6x₹9219 cr10.6%13.0%4.1x
2025-1026.4x₹9219 cr10.6%13.0%4.1x
2025-0924.9x₹9219 cr10.6%13.0%4.1x
2025-0825.4x₹9266 cr10.3%13.0%4.1x
2025-0724.5x₹9266 cr10.3%13.0%4.1x
2025-0627.5x₹9266 cr10.3%13.0%4.1x
2025-0522.2x₹9912 cr10.3%12.0%4.3x
2025-0416.1x₹9912 cr10.3%12.0%4.3x
2025-0318.4x₹9912 cr10.3%12.0%4.3x
2025-0218.2x₹10412 cr10.3%12.0%4.3x
2025-0122.3x₹10412 cr10.3%12.0%4.3x
2024-1225.2x₹10412 cr10.3%12.0%4.3x
2024-1127.0x₹9773 cr9.5%12.0%4.3x
2024-1024.1x₹9773 cr9.5%12.0%4.3x
2024-0931.2x₹9773 cr9.5%12.0%4.3x
2024-0824.5x₹9459 cr9.4%12.0%4.3x
2024-0715.6x₹9459 cr9.4%12.0%4.3x
2024-0614.6x₹9459 cr9.4%12.0%4.3x
2024-0519.7x₹8500 cr5.1%10.0%3.2x
2024-0421.6x₹8500 cr5.1%10.0%3.2x
2024-0317.4x₹8500 cr5.1%10.0%3.2x
2024-0220.8x₹8500 cr5.1%10.0%3.2x
2024-0119.2x₹8500 cr5.1%10.0%3.2x
2023-1221.3x₹8500 cr5.1%10.0%3.2x
2023-1120.7x₹8500 cr5.1%10.0%3.2x
2023-1017.0x₹8500 cr5.1%10.0%3.2x
2023-0916.8x₹8500 cr5.1%10.0%3.2x
2023-0814.9x₹8500 cr5.1%10.0%3.2x
2023-0713.1x₹8500 cr5.1%10.0%3.2x
2023-0613.6x₹8500 cr5.1%10.0%3.2x
2023-0522.8x₹7151 cr2.8%10.0%3.5x
2023-0422.2x₹7151 cr2.8%10.0%3.5x
2023-0317.8x₹7151 cr2.8%10.0%3.5x
2023-0221.8x₹7151 cr2.8%10.0%3.5x
2023-0122.4x₹7151 cr2.8%10.0%3.5x
2022-1221.6x₹7151 cr2.8%10.0%3.5x
2022-1122.5x₹7151 cr2.8%10.0%3.5x
2022-1019.6x₹7151 cr2.8%10.0%3.5x
2022-0920.7x₹7151 cr2.8%10.0%3.5x
2022-0820.6x₹7151 cr2.8%10.0%3.5x
2022-0719.6x₹7151 cr2.8%10.0%3.5x
2022-0617.4x₹7151 cr2.8%10.0%3.5x
2022-0513.0x₹10775 cr3.3%10.0%4.3x
2022-0414.3x₹10775 cr3.3%10.0%4.3x
2022-0313.9x₹10775 cr3.3%10.0%4.3x
2022-0213.0x₹10775 cr3.3%10.0%4.3x
2022-0116.6x₹10775 cr3.3%10.0%4.3x
2021-1217.1x₹10775 cr3.3%10.0%4.3x

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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