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ELGI EQUIPMENTS LTD (ELGIEQUIP)

Producer Manufacturing · Industrial Machinery · 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.61 / 100
Profitability 73Growth 43Balance sheet 67
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 53Earnings 59FII/DII 27

Passes these screensDebt-light & profitable

Compare withWELSPUN CORPVOLTASTHERMAX

Share price

Closing priceAdjusted for splits and bonus issues.

₹553.9 latest close · −4.3% over the last 90 sessions

₹500₹550₹600₹650Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹500₹550₹600₹650Jul 3Sep 4Nov 9

₹553.9 month-end · +8.5% over 12 months

₹500₹600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹500₹600Nov '25May '26Nov '26

₹553.9 month-end · +4.3% over 3 years

₹400₹500₹600₹700Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹500₹600₹700Nov '23May '25Nov '26

₹553.9 month-end · +361.4% since Jan '19

₹0₹200₹400₹600Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400₹600Jan '19Dec '22Nov '26

52-week range ₹408.25 to ₹653.40 · 1-year volatility 33.9%

Was the rally earned?

+9%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 22 points, but investors now pay less per rupee of profit (P/E 44.6x to 39.2x), which took 13 points back.
  • The share count barely moved.
Net profit growth: +22 pts. Points of the price return explained by net profit growing (or shrinking).+22 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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +9%+9%Share priceNet profit growth: +22 pts. Points of the price return explained by net profit growing (or shrinking).+22ProfitP/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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +9%+9%Share price
Net profit growth+22 ptsNet profit rose about 23%, which lifts the price.
P/E change-13 ptsThe P/E fell from 44.6x to 39.2x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+4%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (+4%).
  • The share count barely moved.
Net profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19 ptsNet profit growthP/E change: −15 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−15 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: +4%+4%Share priceNet profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19ProfitP/E change: −15 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−15P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +4%+4%Share price
Net profit growth+19 ptsNet profit rose about 21%, which lifts the price.
P/E change-15 ptsThe P/E fell from 45.4x to 39.2x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+101%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 214 points, but investors now pay less per rupee of profit (P/E 85.2x to 39.2x), which took 112 points back.
  • The share count barely moved.
Net profit growth: +214 pts. Points of the price return explained by net profit growing (or shrinking).+214 ptsNet profit growthP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112 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: +101%+101%Share priceNet profit growth: +214 pts. Points of the price return explained by net profit growing (or shrinking).+214ProfitP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +101%+101%Share price
Net profit growth+214 ptsNet profit rose about 339%, which lifts the price.
P/E change-112 ptsThe P/E fell from 85.2x to 39.2x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

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

Compare this with WELSPUN CORP

How rough has the ride been?

Maximum drawdown-66.1%recovered 2020-12
1-year volatility33.9%annualised
Beta vs sector index0.933-year daily, correlation 0.49
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−65.5% 0%−20%−40%−60%2020202220242026−65.5%
Largest drawdowns

-66.1% (2019-09 peak to 2020-04 low, recovered 2020-12)

-47.7% (2024-06 peak to 2025-04 low, not yet recovered)

-38.4% (2022-02 peak to 2022-05 low, recovered 2022-08)

Most recent volume spikes

2026-11-06: 9x the 50-day median, price +1.8% that day

2026-08-19: 6.2x the 50-day median, price +3.8% that day

2026-08-17: 5.1x the 50-day median, price +2.4% 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?

39.2xP/E todayNear its historic low
Against its own history13th percentile
CheapestMedian 52.3xDearest

Usual range 38.6x to 101.4x since 2019-01.

Against Producer Manufacturing39.2x vs 29.6x
This company
39.2x
Sector median
29.6x

33% above the Producer Manufacturing median.

10.6x60.1x109.6x159.2xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.6x60.1x109.6x159.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE76th▲ 3 pts vs a year ago
  • Op. margin70th▲ 6 pts vs a year ago
  • Revenue growth54th▲ 5 pts vs a year ago
  • EPS growth64th▲ 3 pts vs a year ago
  • Debt/equity ↓51st▲ 7 pts vs a year ago
  • Cash cycle ↓49th▲ 5 pts vs a year ago
  • P/E ↓34thflat vs a year ago
  • 12M momentum63rd▲ 20 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~26%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 53.4x, a holder earning 12%/yr needs earnings to grow about 26.2%/yr for 10 years, then trade at 15x.

Delivered21.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+4.2 ptsimplied minus delivered
Rank447thmost demanding of 856

Over time

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

0%21%41% Jan 2019Nov 2026 0%21%41% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x27.7%28.8%30.0%
15x25.0%26.2%27.3%
20x21.6%22.7%23.8%

Drag a slider to test other assumptions

Implied: 26.2%/yr

Looking back

  • Jan 2020Price implied 22%/yr; EPS has since grown 23%/yr (7.0 yrs)
  • Jan 2021Price implied 30%/yr; EPS has since grown 47%/yr (6.0 yrs)
  • Jan 2022Price implied 38%/yr; EPS has since grown 33%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹553.90
P/E
39.2x
ROCE
22.0%
Market Cap
₹17555 cr
Revenue (TTM)
₹4146 cr
P/S
4.2x
P/B
7.9x
ROE
20.1%
Operating Margin
15.0%
Debt / Equity
0.2x
Promoter Holding
31.2%
12M Momentum
8.5%

52-week range

₹408.25₹653.40
59% of the way from its 52-week low to its high

Price risk

1Y volatility
33.9%
Beta vs sector
1-year daily
0.97

Balance sheet & cash

Interest cover
operating profit ÷ interest
26.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.03x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance17%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 17.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 27.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.03xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.03x (cash from operations ₹1,130 cr, net profit ₹1,092 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 (67 vs 66). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress19% of fixed assetsWithin range

Capital work-in-progress is 19% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+7 days / 2 yrsWithin range

Days payable changed by +7 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 trimmed 6.9 pts; DIIs added 5.3 pts.
  • The number of shareholders rose from 58,126 to 89,318 (+54%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters31.2%31.2%0.0 pts
FIIs28.8%21.9%-6.9 pts
DIIs4.8%10.1%+5.3 pts
Public and others35.0%36.3%+1.3 pts

Number of shareholders

89,318shareholders+54% since Sep '23
55k67k80k92k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 58,126
Dec '23: 56,754
Mar '24: 55,150
Jun '24: 54,988
Sep '24: 63,568
Dec '24: 65,977
Mar '25: 68,533
Jun '25: 76,951
Sep '25: 79,971
Dec '25: 92,465
Mar '26: 89,695
Jun '26: 89,318
 55k67k80k92k Sep '23Sep '24Sep '25Jun '26
Sep '23: 58,126
Dec '23: 56,754
Mar '24: 55,150
Jun '24: 54,988
Sep '24: 63,568
Dec '24: 65,977
Mar '25: 68,533
Jun '25: 76,951
Sep '25: 79,971
Dec '25: 92,465
Mar '26: 89,695
Jun '26: 89,318

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

−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 ELGI EQUIPMENTS LTD 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 −18% to +7% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−1.0%, 80% range −8.9% to +2.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%
MPHASIS · Oct 2021: −41.7% vs market
SFL · Apr 2022: −39.8% vs market
KKCL · Oct 2023: −39.7% vs market
BECTORFOOD · Apr 2025: −38.3% vs market
SYMPHONY · Sep 2024: −37.5% vs market
BSOFT · Oct 2021: −35.8% vs market
CROMPTON · Mar 2025: −35.1% vs market
SAFARI · Jun 2025: −26.3% vs market
GODREJAGRO · Apr 2020: −23.0% vs market
TIINDIA · Sep 2024: −22.6% vs market
SRF · Oct 2022: −21.9% vs market
KIMS · Jun 2023: −20.4% vs market
TTKPRESTIG · Nov 2021: −18.9% vs market
BIKAJI · Oct 2024: −16.2% vs market
INDGN · May 2025: −15.0% vs market
KPRMILL · Nov 2023: −12.4% vs market
CENTURYPLY · Sep 2022: −12.3% vs market
HSCL · Jan 2025: −12.0% vs market
CCL · Sep 2020: −11.5% vs market
HEIDELBERG · May 2020: −11.5% vs market
GARFIBRES · Jun 2021: −9.1% vs market
VGUARD · Apr 2023: −8.9% vs market
SUPREMEIND · Nov 2020: −5.8% vs market
RATNAMANI · Mar 2023: −5.1% vs market
PERSISTENT · Apr 2023: −3.8% vs market
GALAXYSURF · Jun 2021: −3.5% vs market
KEI · Feb 2024: −0.3% vs market
JBCHEPHARM · Oct 2023: −0.1% vs market
BHARATFORG · Jan 2020: −0.1% vs market
USHAMART · Oct 2025: +1.4% vs market
POLYCAB · Nov 2021: +1.8% vs market
ENDURANCE · Jul 2025: +2.6% vs market
LUXIND · Mar 2020: +2.9% vs market
LTTS · Jun 2021: +4.3% vs market
TEGA · May 2024: +5.5% vs market
SUPRAJIT · Feb 2020: +5.9% vs market
KAJARIACER · Jul 2022: +6.6% vs market
RHIM · Apr 2022: +7.0% vs market
RADICO · Aug 2021: +11.8% vs market
FINPIPE · Jun 2020: +13.0% vs market
BLUESTARCO · Mar 2020: +13.1% vs market
CERA · Feb 2020: +13.8% vs market
CARBORUNIV · Feb 2020: +14.6% vs market
AEGISLOG · Jan 2020: +15.5% vs market
BALKRISIND · Mar 2020: +18.6% vs market
GLENMARK · Aug 2025: +19.7% vs market
COFORGE · Dec 2023: +31.0% vs market
IPCALAB · Aug 2025: +32.5% vs market
SUNDRMFAST · Jul 2022: +33.2% vs market
NH · Jul 2022: +33.7% vs market
Similar setups −3.6%All companies −2.6%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months

Similar setups' median
−3.6%
All companies' median
−2.6%
Beat the market
42% vs 47%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RADICO
Consumer Non-Durables		 Aug 2021 42x18% +118%−7% +12%
CENTURYPLY
Producer Manufacturing		 Sep 2022 45x30% +35%−12% −12%
GODREJAGRO
Process Industries		 Apr 2020 24x18% −22%−31% −23%
JBCHEPHARM
Health Technology		 Oct 2023 53x22% +42%−7% 0%
KAJARIACER
Producer Manufacturing		 Jul 2022 50x24% +18%−14% +7%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUNDRMFAST
Producer Manufacturing		 Jul 2022 38x20% +9%−14% +33%
CERA
Consumer Durables		 Feb 2020 28x25% +4%−19% +14%
RATNAMANI
Non-Energy Minerals		 Mar 2023 43x20% +15%−16% −5%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. 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 ELGI EQUIPMENTS 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 2026-11-09. 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.

MPHASISMPHASIS
Technology Services
69%similar
ROCEpromoter holding
GRANULES INDIAGRANULES
Health Technology
68%similar
market capEPS growth
TATA TECHNOLOGIESTATATECH
Technology Services
68%similar
debt/equityvolatility
HONASA CONSUMERHONASA
Consumer Non-Durables
66%similar
operating marginmarket cap
SAFARI INDUSTRIES INDIASAFARI
Consumer Durables
66%similar
P/EEPS growth
SUNDRAM FASTENERSSUNDRMFAST
Producer Manufacturing
72%similar
EPS growthP/E
USHA MARTINUSHAMART
Producer Manufacturing
68%similar
revenuevolatility
KAJARIA CERAMICSKAJARIACER
Producer Manufacturing
66%similar
market capROCE

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

What changed?

30 events since Jan '23

  1. NovPriceVolume reached 9.0x its 50-day median on 2026-11-06; price +1.8% that day.
  2. OctValuationP/E fell below the 10th percentile of its own history to date (36.0x).
  3. AugPriceVolume reached 21.9x its 50-day median on 2026-08-14; price +5.7% that day.
  4. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  5. MayPriceVolume reached 18.5x its 50-day median on 2026-05-29; price -0.8% that day.
  6. FebPriceVolume reached 12.0x its 50-day median on 2026-02-12; price +3.0% that day.
  7. DecValuationP/E fell below the 10th percentile of its own history to date (38.5x).
  8. NovPriceVolume reached 15.2x its 50-day median on 2025-11-25; price -3.1% that day.
Show 22 earlier events
  1. AugPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  2. JulPriceVolume reached 19.9x its 50-day median on 2025-07-09; price +3.0% that day.
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  5. MayPriceVolume reached 16.3x its 50-day median on 2025-05-30; price +7.2% that day.
  6. AprPriceFell 48% from the Jun 2024 peak to the Apr 2025 low.
  7. MarPeer rankMoved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  8. MarPriceVolume reached 136.5x its 50-day median on 2025-03-17; price +13.9% that day.
  9. NovPriceVolume reached 40.1x its 50-day median on 2024-11-25; price +14.5% that day.
  10. AugPriceVolume reached 19.6x its 50-day median on 2024-08-22; price +2.2% that day.
  11. JunResultsYear-on-year EPS growth turned negative.
  12. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  13. AprPriceVolume reached 18.3x its 50-day median on 2024-04-04; price +10.9% that day.
  14. FebPriceVolume reached 18.6x its 50-day median on 2024-02-14; price +9.0% that day.
  15. DecPriceVolume reached 8.6x its 50-day median on 2023-12-08; price +3.2% that day.
  16. JulPriceVolume reached 25.9x its 50-day median on 2023-07-12; price +6.9% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹3,041 cr.
  18. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  19. MayPriceRegained the 2022-09 peak, 4 months after the low.
  20. MayPriceVolume reached 39.7x its 50-day median on 2023-05-22; price +18.1% that day.
  21. FebPriceVolume reached 8.4x its 50-day median on 2023-02-06; price +8.3% that day.
  22. JanPriceFell 35% from the Sep 2022 peak to the Jan 2023 low.

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
2026-1139.2x₹4146 cr20.1%22.0%0.2x
2026-1036.0x₹4146 cr20.0%22.0%0.2x
2026-0943.1x₹4146 cr20.0%22.0%0.2x
2026-0846.2x₹3951 cr19.3%22.0%0.2x
2026-0742.0x₹3951 cr19.3%22.0%0.2x
2026-0644.1x₹3951 cr19.3%22.0%0.2x
2026-0545.0x₹3831 cr21.7%22.0%0.3x
2026-0443.4x₹3831 cr21.7%22.0%0.3x
2026-0336.6x₹3831 cr21.7%22.0%0.3x
2026-0243.5x₹3676 cr20.9%22.0%0.3x
2026-0135.1x₹3676 cr20.9%22.0%0.3x
2025-1238.5x₹3676 cr20.9%22.0%0.3x
2025-1144.6x₹3577 cr19.5%22.0%0.3x
2025-1043.4x₹3577 cr19.5%22.0%0.3x
2025-0942.1x₹3577 cr19.5%22.0%0.3x
2025-0842.7x₹3511 cr18.8%22.0%0.3x
2025-0751.4x₹3511 cr18.8%22.0%0.3x
2025-0648.5x₹3511 cr18.8%22.0%0.3x
2025-0552.3x₹3384 cr20.2%22.0%0.4x
2025-0443.5x₹3384 cr20.2%22.0%0.4x
2025-0347.0x₹3384 cr20.2%22.0%0.4x
2025-0241.4x₹3358 cr20.3%22.0%0.4x
2025-0152.3x₹3358 cr20.3%22.0%0.4x
2024-1256.0x₹3358 cr20.3%22.0%0.4x
2024-1162.5x₹3295 cr20.1%22.0%0.4x
2024-1064.7x₹3295 cr20.1%22.0%0.4x
2024-0966.4x₹3295 cr20.1%22.0%0.4x
2024-0870.5x₹3218 cr19.3%22.0%0.4x
2024-0770.3x₹3218 cr19.3%22.0%0.4x
2024-0672.9x₹3218 cr19.3%22.0%0.4x
2024-0552.2x₹3041 cr27.1%24.0%0.4x
2024-0455.6x₹3041 cr27.1%24.0%0.4x
2024-0351.4x₹3041 cr27.1%24.0%0.4x
2024-0255.7x₹3041 cr27.1%24.0%0.4x
2024-0152.6x₹3041 cr27.1%24.0%0.4x
2023-1246.5x₹3041 cr27.1%24.0%0.4x
2023-1145.4x₹3041 cr27.1%24.0%0.4x
2023-1043.2x₹3041 cr27.1%24.0%0.4x
2023-0943.7x₹3041 cr27.1%24.0%0.4x
2023-0841.9x₹3041 cr27.1%24.0%0.4x
2023-0745.8x₹3041 cr27.1%24.0%0.4x
2023-0646.3x₹3041 cr27.1%24.0%0.4x
2023-0594.9x₹2525 cr17.2%19.0%0.4x
2023-0482.5x₹2525 cr17.2%19.0%0.4x
2023-0377.8x₹2525 cr17.2%19.0%0.4x
2023-0283.1x₹2525 cr17.2%19.0%0.4x
2023-0167.5x₹2525 cr17.2%19.0%0.4x
2022-1274.5x₹2525 cr17.2%19.0%0.4x
2022-1184.4x₹2525 cr17.2%19.0%0.4x
2022-1086.1x₹2525 cr17.2%19.0%0.4x
2022-0975.0x₹2525 cr17.2%19.0%0.4x
2022-0888.7x₹2525 cr17.2%19.0%0.4x
2022-0765.9x₹2525 cr17.2%19.0%0.4x
2022-0663.7x₹2525 cr17.2%19.0%0.4x
2022-05106.6x₹1924 cr11.7%13.0%0.5x
2022-04107.4x₹1924 cr11.7%13.0%0.5x
2022-0386.5x₹1924 cr11.7%13.0%0.5x
2022-02102.4x₹1924 cr11.7%13.0%0.5x
2022-01102.6x₹1924 cr11.7%13.0%0.5x
2021-1292.6x₹1924 cr11.7%13.0%0.5x

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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