अApnaFunda

ENVIRO INFRA ENGINEERS LIMITED (EIEL)

Industrial Services · Engineering & Construction · 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.65 / 100
Profitability 71Balance sheet 59
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.15 / 100
Price 14Earnings 12FII/DII 18

Passes these screensDebt-light & profitableLittle growth priced in

Share price

Closing priceAdjusted for splits and bonus issues.

₹171.71 latest close · −27.1% over the last 90 sessions

₹200₹250Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹250Jul 3Sep 4Nov 9

₹171.71 month-end · −20.9% over 12 months

₹150₹200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹150₹200Nov '25May '26Nov '26

₹171.71 month-end · −17.1% since Nov '24

₹200₹300Nov '24Apr '25Sep '25Jan '26Jun '26Nov '26 ₹200₹300Nov '24Nov '25Nov '26

52-week range ₹134.71 to ₹254.45 · 1-year volatility 48.5%

Was the rally earned?

-21%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings took off 8 points and the multiple took off 13 points (P/E 19.3x to 16.7x).
  • The share count rose 10%.
Net profit growth: +1 pts. Points of the price return explained by net profit growing (or shrinking).+1 ptsNet profit growthP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13 ptsP/E changeShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9 ptsShare count changeShare price: −21%−21%Share priceNet profit growth: +1 pts. Points of the price return explained by net profit growing (or shrinking).+1ProfitP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13P/EShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9SharesShare price: −21%−21%Share price
Net profit growth+1 ptsNet profit rose about 1%, which lifts the price.
P/E change-13 ptsThe P/E fell from 19.3x to 16.7x, which lowers the price.
Share count change-9 ptsShare count rose 10%, 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.

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

How rough has the ride been?

Maximum drawdown-64.0%not yet recovered
1-year volatility48.5%annualised
Beta vs sector index1.273-year daily, correlation 0.51
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20252026−63.7% 0%−20%−40%−60%2026−63.7%
Largest drawdowns

-64.0% (2024-12 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-10-15: 7x the 50-day median, price +2.7% that day

2026-09-10: 5.9x the 50-day median, price +2.7% that day

2026-09-09: 13.4x the 50-day median, price +5.0% 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?

16.6xP/E todayWithin its usual range
Against its own history24th percentile
CheapestMedian 19.9xDearest

Usual range 15.7x to 23.4x since 2024-11.

Against Industrial Services16.6x vs 14.0x
This company
16.6x
Sector median
14.0x

19% above the Industrial Services median.

12.1x18.1x24.1x30.1xNov '24Apr '25Sep '25Feb '26Jul '26Nov '2612.1x18.1x24.1x30.1xNov '24Jul '25Mar '26Nov '26
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; 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 Industrial Services is valued

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).

Where it ranks today

  • ROCE67th▼ 23 pts vs a year ago
  • Op. margin74th▼ 3 pts vs a year ago
  • Revenue growth52nd▼ 26 pts vs a year ago
  • EPS growth35th▼ 38 pts vs a year ago
  • Debt/equity ↓54th▼ 9 pts vs a year ago
  • Cash cycle ↓87th▲ 7 pts vs a year ago
  • P/E ↓39th▼ 8 pts vs a year ago
  • 12M momentum54th▼ 29 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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~19%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 28.4x, a holder earning 12%/yr needs earnings to grow about 19.4%/yr for 10 years, then trade at 15x.

Delivered65.6%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap−40.6 ptsimplied minus delivered
Rank846thmost demanding of 856

Over time

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

0%40%81% Nov 2024Nov 2026 0%40%81% Nov 2024Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x21.0%22.1%23.1%
15x18.3%19.4%20.4%
20x14.9%16.0%17.0%

Drag a slider to test other assumptions

Implied: 19.4%/yr

“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 Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹171.71
P/E
16.7x
ROCE
20.0%
Market Cap
₹3012 cr
Revenue (TTM)
₹1263 cr
P/S
2.4x
P/B
2.4x
ROE
14.7%
Operating Margin
21.0%
Debt / Equity
0.3x
Promoter Holding
70.2%
12M Momentum
-20.9%

52-week range

₹134.71₹254.45
31% of the way from its 52-week low to its high

Price risk

1Y volatility
48.5%
Beta vs sector
1-year daily
1.20

Balance sheet & cash

Interest cover
operating profit ÷ interest
6.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.48x
low
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance14%Within range

Other income as a share of pre-tax profit (trailing twelve months): 13.9%. 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 conversion-0.48xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.48x (cash from operations ₹-224 cr, net profit ₹471 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 history-8 daysWithin range

Debtor days are below the median of the previous three fiscal years by 8 days (53 vs 61). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress45% of fixed assetsWithin range

Capital work-in-progress is 45% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+17 days / 2 yrsWithin range

Days payable changed by +17 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 2 years, DIIs trimmed 4.5 pts; FIIs trimmed 0.8 pts.
  • The number of shareholders fell from 2.4 lakh to 2.3 lakh (-7%) between Dec 2024 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '24Jun '26Change
Promoters70.0%70.2%+0.2 pts
FIIs1.4%0.7%-0.8 pts
DIIs5.2%0.7%-4.5 pts
Public and others23.4%28.4%+5.1 pts

Number of shareholders

2.3 lakhshareholders-7% since Dec '24
2.2L2.3L2.4L2.5L Dec '24Jun '25Dec '25Jun '26
Dec '24: 2.4 lakh
Mar '25: 2.4 lakh
Jun '25: 2.5 lakh
Sep '25: 2.4 lakh
Dec '25: 2.3 lakh
Mar '26: 2.2 lakh
Jun '26: 2.3 lakh
2.2L2.3L2.4L2.5L Dec '24Jun '25Dec '25Jun '26
Dec '24: 2.4 lakh
Mar '25: 2.4 lakh
Jun '25: 2.5 lakh
Sep '25: 2.4 lakh
Dec '25: 2.3 lakh
Mar '26: 2.2 lakh
Jun '26: 2.3 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

−11.1%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like ENVIRO INFRA ENGINEERS LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −29% to +31% vs the market, against −1% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −9.9%, 80% range −16.4% to −3.5%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
NGLFINE · Jun 2024: −54.2% vs market
SIGACHI · Jun 2025: −51.2% vs market
VRLLOG · Aug 2023: −46.6% vs market
HSCL · Apr 2020: −43.9% vs market
EPIGRAL · Sep 2025: −40.5% vs market
APEX · Nov 2020: −36.4% vs market
GVT&D · Mar 2021: −36.2% vs market
SATIA · Nov 2020: −35.4% vs market
RUPA · Jun 2022: −35.3% vs market
IIFLCAPS · May 2022: −31.7% vs market
INDOCO · Apr 2023: −31.6% vs market
SAKSOFT · Sep 2025: −30.0% vs market
MASTEK · Oct 2025: −29.4% vs market
MINDACORP · Jan 2020: −27.3% vs market
HINDWAREAP · Feb 2023: −26.3% vs market
KRBL · Jan 2020: −24.7% vs market
AWHCL · May 2022: −23.4% vs market
TIIL · Dec 2024: −21.9% vs market
INSECTICID · Mar 2020: −15.5% vs market
SHRIPISTON · May 2020: −14.9% vs market
ICIL · Feb 2025: −14.9% vs market
INDIANHUME · May 2020: −14.8% vs market
KSL · Feb 2025: −13.2% vs market
VENKEYS · Apr 2020: −11.2% vs market
ROTO · Oct 2025: −11.2% vs market
LUMAXIND · Feb 2020: −11.0% vs market
DOLLAR · Nov 2022: −10.9% vs market
XPROINDIA · May 2023: −5.2% vs market
LGBBROSLTD · Apr 2020: −3.5% vs market
STERTOOLS · May 2020: −2.9% vs market
CARYSIL · May 2023: −1.0% vs market
RAMKY · Apr 2025: +0.8% vs market
NRBBEARING · Mar 2020: +2.7% vs market
SHREEPUSHK · Mar 2020: +3.6% vs market
SUPRAJIT · Mar 2022: +6.1% vs market
HGINFRA · Jun 2020: +21.3% vs market
VADILALIND · Jun 2024: +27.9% vs market
SUBROS · Mar 2020: +31.5% vs market
ACE · Dec 2021: +31.8% vs market
TALBROAUTO · Jul 2025: +33.9% vs market
TAJGVK · Oct 2024: +35.7% vs market
VENUSPIPES · Oct 2025: +50.4% vs market
GOKEX · Apr 2023: +63.4% vs market
HIKAL · Feb 2021: +92.1% vs market
SMSPHARMA · Sep 2025: +92.9% vs market
TI · Jul 2024: +107.6% vs market
MARKSANS · Feb 2020: +140.0% vs market
BALAMINES · Jan 2020: +143.8% vs market
GNA · Sep 2020: +158.0% vs market
ECLERX · Jul 2020: +198.5% vs market
Similar setups −11.1%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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
−11.1%
All companies' median
−1.2%
Beat the market
38% vs 49%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TIIL
Producer Manufacturing
Dec 2024 24x19% +8%−30% −22%
AWHCL
Transportation
May 2022 19x18% −1%−33% −23%
STERTOOLS
Producer Manufacturing
May 2020 9x22% −50%−53% −3%
DOLLAR
Consumer Non-Durables
Nov 2022 17x27% −4%−35% −11%
INSECTICID
Process Industries
Mar 2020 5x21% −53%−56% −16%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MINDACORP
Producer Manufacturing
Jan 2020 14x16% −27%−32% −27%
XPROINDIA
Process Industries
May 2023 28x22% +3%−20% −5%
TI
Consumer Non-Durables
Jul 2024 35x22% +48%−11% +108%
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, size and drawdown from 12-month high. 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 ENVIRO INFRA ENGINEERS LIMITED. 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.

Finance
68%similar
P/Erevenue
Process Industries
65%similar
operating marginvolatility
Finance
62%similar
ROCEmarket cap
EPIGRALEPIGRAL
Process Industries
62%similar
promoter holdingmarket cap
PACE DIGITEKPACEDIGITK
Electronic Technology
62%similar
promoter holdingROCE
Industrial Services
56%similar
revenueROCE
Industrial Services
54%similar
volatilityP/E
Industrial Services
53%similar
debt/equityrevenue

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

What changed?

14 events since Mar '25

  1. OctPriceVolume reached 7.0x its 50-day median on 2026-10-15; price +2.7% that day.
  2. SepPriceVolume reached 13.4x its 50-day median on 2026-09-09; price +5.0% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunPeer rankSlipped to the 2nd quartile of Industrial Services on ROCE (from the top quartile).
  5. AprPriceVolume reached 109.0x its 50-day median on 2026-04-13; price +15.0% that day.
  6. MarPriceFell 64% from the Dec 2024 peak to the Mar 2026 low.
  7. MarPriceVolume reached 38.4x its 50-day median on 2026-03-12; price +4.5% that day.
  8. NovDebtDebt / equity halved over 12 months to 0.24x.
Show 6 earlier events
  1. NovSharesShare count is up 28.5% over 12 months.
  2. SepInstitutionsFII + DII holding fell 3.6 pts over 2 quarters to 3.0%.
  3. JulPriceVolume reached 45.8x its 50-day median on 2025-07-11; price +12.4% that day.
  4. JunPeer rankMoved into the top quartile of Industrial Services on operating margin (from the 2nd quartile).
  5. JunPriceVolume reached 31.1x its 50-day median on 2025-06-24; price +11.8% that day.
  6. MarPeer rankSlipped to the 2nd quartile of Industrial Services on operating margin (from the top quartile).

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 history25 months · 2024-11 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1116.7x₹1263 cr14.7%20.0%0.3x
2026-1015.6x₹1263 cr14.7%20.0%0.3x
2026-0918.4x₹1263 cr14.7%20.0%0.3x
2026-0818.9x₹1145 cr14.4%20.0%0.3x
2026-0721.1x₹1145 cr14.4%20.0%0.3x
2026-0621.5x₹1145 cr14.4%20.0%0.3x
2026-0516.3x₹1111 cr19.8%32.0%0.2x
2026-0418.2x₹1111 cr19.8%32.0%0.2x
2026-0312.1x₹1111 cr19.8%32.0%0.2x
2026-0213.8x₹1108 cr19.3%32.0%0.2x
2026-0115.8x₹1108 cr19.3%32.0%0.2x
2025-1218.0x₹1108 cr19.3%32.0%0.2x
2025-1119.3x₹1094 cr18.0%32.0%0.2x
2025-1022.5x₹1094 cr18.0%32.0%0.2x
2025-0921.6x₹1094 cr18.0%32.0%0.2x
2025-0822.5x₹1058 cr16.8%32.0%0.2x
2025-0722.8x₹1058 cr16.8%32.0%0.2x
2025-0621.3x₹1058 cr16.8%32.0%0.2x
2025-0521.3x₹965 cr51.9%47.0%0.8x
2025-0417.7x₹965 cr51.9%47.0%0.8x
2025-0319.9x₹965 cr51.9%47.0%0.8x
2025-0219.9x₹868 cr45.4%47.0%0.8x
2025-0125.2x₹868 cr45.4%47.0%0.8x
2024-1230.1x₹868 cr45.4%47.0%0.8x
2024-1123.8x₹775 cr37.6%47.0%0.8x

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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