EFFWA INFRA AND RESEARCH LTD (EFFWA): Financials & Fundamentals History

Share Price

₹338.50

P/E

27.4x

ROCE

29.0%

Market Cap

₹785 cr

Revenue (TTM)

₹253 cr

P/S

3.1x

P/B

6.4x

ROE

23.3%

Debt / Equity

0.3x

Promoter Holding

73.0%

12M Momentum

62.8%

P/E vs its own history46th percentilesince Jul '24

P/E vs Industrial Services2.0xthe sector median

52-week range

₹165.00₹399.95

74% of the way from its 52-week low to its high

Price risk

1Y volatility

47.7%

Beta vs sector

1-year daily

0.73

Balance sheet & cash

Interest cover

operating profit ÷ interest

10.5x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.05x

low

Share count, 1Y

unchanged

Was the rally earned?

+63%share price, 1 yearEarnings-driven

Mostly yes.

Per-share earnings added 45 points to the rise, while the multiple moved less (P/E 23.9x to 27.4x).
The share count barely moved.

Net profit growth+46 ptsNet profit rose about 43%, which lifts the price.

P/E change+17 ptsThe P/E rose from 23.9x to 27.4x, which lifts 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.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with LARSEN AND TOUBRO

Is it expensive against its own past and its peers?

27.4xP/E todayWithin its usual range

Against its own history46th percentileMedian 27.7x; usual range 22.6x to 32.2x since 2024-07.

Against Industrial Services27.4x vs 13.5xAbove the Industrial Services median.

P/EP/BP/S

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

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

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

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Industrial Services is valued

What is the price implying?

~28%annual earnings growth implied by the price

At a P/E of 55.2x, the price would imply about 27.6%/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 Industrial Services The market-wide Expectations lists

What changed?

Aug '26Volume reached 6.5x its 50-day median on 2026-08-25; price -3.2% that day.
Jul '26Regained the 2024-08 peak, 16 months after the low.
Jun '26Revenue (TTM) reached a new high of ₹253 cr.
Jun '26Moved into the top quartile of Industrial Services on EPS growth (from the 2nd quartile).
Jun '26Started paying a dividend (payout 8% of profit).
Jun '26Volume reached 6.2x its 50-day median on 2026-06-02; price +5.1% that day.
Mar '26Volume reached 5.3x its 50-day median on 2026-03-04; price -5.5% that day.
Oct '25Volume reached 14.8x its 50-day median on 2025-10-17; price -4.8% that day.

Show 4 earlier events

Aug '25Moved into the 2nd quartile of Industrial Services on EPS growth (from the 3rd quartile).
Jul '25Share count is up 27.8% over 12 months.
Mar '25Fell 61% from the Aug 2024 peak to the Mar 2025 low.
Feb '25Volume reached 7.1x its 50-day median on 2025-02-21; price +2.3% 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

Are profits backed by cash?

3 of 5 checks are within range, 1 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance0%Within range

Other income as a share of pre-tax profit (trailing twelve months): 0.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion0.05xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.05x (cash from operations ₹3 cr, net profit ₹63 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-15 daysWithin range

Debtor days are below the median of the previous three fiscal years by 15 days (185 vs 200). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2000% of fixed assetsWithin range

Capital work-in-progress is 2000% 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.

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 2 years, FIIs trimmed 2.2 pts; DIIs added 2.0 pts.
The number of shareholders rose from 1,626 to 2,202 (+35%) between Sep 2024 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '24Jun '26Change

Promoters73.0%73.0%0.0 pts

FIIs2.2%0.0%-2.2 pts

DIIs1.5%3.5%+2.0 pts

Public and others23.3%23.4%+0.1 pts

Number of shareholders

2,202shareholders+35% since Sep '24

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

How rough has the ride been?

Maximum drawdown-60.9%recovered 2026-07

1-year volatility47.7%annualised

Beta vs sector index0.703-year daily, correlation 0.31

Volume spikes1last 90 sessions, 5x the 50-day median

Monthly share price

Last 90 trading days

Drawdown from peak

Largest drawdowns

-60.9% (2024-08 peak to 2025-03 low, recovered 2026-07)

-23.2% (2026-07 peak to 2026-08 low, not yet recovered)

Most recent volume spikes

2026-08-25: 6.5x the 50-day median, price -3.2% 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).

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial 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).

ROCE

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

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

Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Industrial Services sector page Watch it move against Industrial Services in the Observatory

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

Company	Sector	Similarity	Closest on
VINSYS IT SERVICES (VINSYS)	Commercial Services	61%	revenue, debt/equity
OSEL DEVICES (OSELDEVICE)	Electronic Technology	60%	revenue, market cap
SHRI AHIMSA NATURALS (SHRIAHIMSA)	Consumer Non-Durables	58%	revenue, market cap
RNFI SERVICES (RNFI)	Technology Services	55%	market cap, P/E
EURO PRATIK SALES (EUROPRATIK)	Producer Manufacturing	51%	promoter holding, revenue
SATHLOKHAR SYNERGY EnC GLO (SSEGL)	Industrial Services	27%	market cap, ROCE
FABTECH TECHNOLOGIES (FABTECH)	Industrial Services	24%	revenue, market cap
VIKRAN ENGINEERING (VIKRAN)	Industrial Services	19%	debt/equity, volatility

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

What happened next to similar setups

+3.6%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 EFFWA INFRA AND RESEARCH LTD today on valuation, return on capital, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −23% to +49% vs the market, against −1% for all non-financial companies in the same months.
The gap against the base rate (+5.0%, 80% range −3.5% to +15.2%) 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median

+3.6%

All companies' median

−1.4%

Beat the market

50% vs 49%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
THEJO Distribution Services	Oct 2020	19x	33%	+167%	−6%	+37%
VIDHIING Consumer Non-Durables	Oct 2020	19x	—	+100%	−11%	+58%
ROTO Producer Manufacturing	Oct 2023	35x	26%	+79%	−7%	+7%
BHAGCHEM Process Industries	Oct 2022	40x	25%	+97%	−8%	−1%
STEELCAS Non-Energy Minerals	Feb 2023	30x	25%	+73%	−11%	−10%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
BETA Health Technology	Aug 2021	29x	22%	+315%	−12%	+116%
THOMASCOTT Consumer Non-Durables	Dec 2024	43x	31%	+129%	−8%	−34%
SATIA Process Industries	Aug 2020	13x	23%	+83%	−6%	−50%

How reliable is this?

Matched on P/E, P/S, ROCE, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: P/S, interest cover and P/E. Not used (unavailable for this company): operating margin. 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 EFFWA INFRA AND RESEARCH LTD. 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 2026-10-30. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

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

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.

Monthly history (28 months)

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-10	27.4x	₹253 cr	23.3%	29.0%	0.3x
2026-09	28.9x	₹253 cr	23.6%	29.0%	0.3x
2026-08	25.9x	₹253 cr	23.6%	29.0%	0.3x
2026-07	30.0x	₹253 cr	23.6%	29.0%	0.3x
2026-06	30.5x	₹253 cr	23.6%	29.0%	0.3x
2026-05	30.8x	₹185 cr	21.1%	34.0%	0.3x
2026-04	28.1x	₹185 cr	21.1%	34.0%	0.3x
2026-03	19.2x	₹185 cr	21.1%	34.0%	0.3x
2026-02	23.1x	₹185 cr	21.1%	34.0%	0.3x
2026-01	24.0x	₹185 cr	21.1%	34.0%	0.3x
2025-12	26.3x	₹185 cr	21.1%	34.0%	0.3x
2025-11	27.7x	₹185 cr	21.1%	34.0%	0.3x
2025-10	23.9x	₹185 cr	21.1%	34.0%	0.3x
2025-09	25.8x	₹185 cr	21.1%	34.0%	0.3x
2025-08	25.4x	₹185 cr	21.1%	34.0%	0.3x
2025-07	27.0x	₹185 cr	21.1%	34.0%	0.3x
2025-06	28.3x	₹185 cr	21.1%	34.0%	0.3x
2025-05	29.6x	₹145 cr	37.8%	44.0%	0.4x
2025-04	27.7x	₹145 cr	37.8%	44.0%	0.4x
2025-03	21.3x	₹145 cr	37.8%	44.0%	0.4x
2025-02	21.0x	₹145 cr	37.8%	44.0%	0.4x
2025-01	26.2x	₹145 cr	37.8%	44.0%	0.4x
2024-12	32.1x	₹145 cr	37.8%	44.0%	0.4x
2024-11	30.0x	₹145 cr	37.8%	44.0%	0.4x
2024-10	29.8x	₹145 cr	37.8%	44.0%	0.4x
2024-09	32.5x	₹145 cr	37.8%	44.0%	0.4x
2024-08	45.0x	₹145 cr	37.8%	44.0%	0.4x
2024-07	42.8x	₹145 cr	37.8%	44.0%	0.4x

Methodology and data notes