Share price
₹14.94 latest close · −16.3% over the last 90 sessions
₹14.94 month-end · −31.6% over 12 months
₹14.94 month-end · −21.4% over 3 years
₹14.94 month-end · +46.5% since Jan '19
52-week range ₹12.54 to ₹29.69 · 1-year volatility 49.5%
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-68.8% (2019-01 peak to 2020-03 low, recovered 2020-12)
-68.3% (2022-01 peak to 2026-10 low, not yet recovered)
-47.5% (2021-01 peak to 2021-04 low, recovered 2021-11)
Where does it rank among Utilities peers?
Each cell is the company's percentile rank among its Utilities 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
- ROCE73rd▲ 55 pts vs a year ago
- Op. margin68th▼ 18 pts vs a year ago
- Revenue growth63rd▼ 5 pts vs a year ago
- EPS growth3rd▼ 5 pts vs a year ago
- Debt/equity ↓2ndflat vs a year ago
- Cash cycle ↓71st▲ 34 pts vs a year ago
- P/E ↓43rd▼ 11 pts vs a year ago
- 12M momentum26th▼ 15 pts vs a year ago
Rank history
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 Utilities sector page Watch it move against Utilities in the Observatory
What is the price implying?
Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Utilities The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹14.94
- ROCE
- 14.3%
- Market Cap
- ₹71 cr
- Revenue (TTM)
- ₹42 cr
- P/S
- 1.7x
- P/B
- 18.1x
- ROE
- -94.4%
- Operating Margin
- 33.3%
- Debt / Equity
- 35.2x
- Promoter Holding
- 58.1%
- 12M Momentum
- -31.6%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance-100%Within range
Other income as a share of pre-tax profit (trailing twelve months): -100.0%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate—Not enough data
Not enough reported data to compute this.
Cash conversion—Not enough data
Not enough reported data to compute this.
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-370 daysWithin range
Debtor days are below the median of the previous three fiscal years by 370 days (32 vs 402). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress0% of fixed assetsWithin range
Capital work-in-progress is 0% 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.
Who has been buying and selling?
- Over 3 years, institutional and promoter holdings were broadly unchanged.
- The number of shareholders rose from 28,053 to 36,707 (+31%) between Dec 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like ENERGY DEVELOPMENT COMPANY 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 −20% to +53% vs the market, against −1% for all non-financial companies in the same months.
- The gap against the base rate (+9.6%, 80% range −3.1% to +22.2%) 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 · 8 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 37 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| MUKTAARTS Technology Services |
Jun 2020 | — | 8% | −40% | −46% | −2% |
| PENINLAND Finance |
Jun 2022 | — | 12% | −23% | −47% | +103% |
| NKIND Process Industries |
Nov 2024 | — | — | −7% | −32% | +33% |
| FMNL Transportation |
Oct 2025 | — | 16% | −13% | −57% | −30% |
| NAGREEKCAP Finance |
Feb 2024 | — | 8% | +16% | −25% | +48% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SHIVAMAUTO Producer Manufacturing |
Feb 2020 | — | 6% | −48% | −60% | −10% |
| ATLANTAA Miscellaneous |
Jul 2021 | — | 1% | +49% | −26% | −1% |
| EMAMIPAP Process Industries |
Apr 2021 | — | 8% | +51% | −23% | +15% |
How reliable is this?
Matched on P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: interest cover, drawdown from 12-month high and 12-month momentum. Not used (unavailable for this company): P/E. This company is loss-making, so it was only compared with loss-making companies. 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.
What changed?
19 events since Mar '20
- OctPriceFell 68% from the Jan 2022 peak to the Oct 2026 low.
- SepPeer rankMoved into the 2nd quartile of Utilities on operating margin (from the bottom quartile).
- JunPeer rankMoved into the 2nd quartile of Utilities on ROCE (from the bottom quartile).
- SepPeer rankMoved into the top quartile of Utilities on operating margin (from the bottom quartile).
- JunPeer rankSlipped to the bottom quartile of Utilities on operating margin (from the top quartile).
- MarResultsEPS (TTM) turned negative.
- DecResultsEPS (TTM) turned positive.
- DecValuationP/E crossed above the 90th percentile of its own history to date (49.4x).
Show 11 earlier events
- SepPeer rankMoved into the top quartile of Utilities on operating margin (from the bottom quartile).
- JunResultsEPS (TTM) turned negative.
- JunPeer rankSlipped to the bottom quartile of Utilities on ROCE (from the 3rd quartile).
- JunPeer rankSlipped to the 3rd quartile of Utilities on ROCE (from the 2nd quartile).
- JunResultsEPS (TTM) turned positive.
- JunPeer rankMoved into the 2nd quartile of Utilities on ROCE (from the bottom quartile).
- NovPriceRegained the 2021-01 peak, 7 months after the low.
- AprPriceFell 48% from the Jan 2021 peak to the Apr 2021 low.
- DecPriceRegained the 2019-01 peak, 9 months after the low.
- JunPeer rankSlipped to the bottom quartile of Utilities on ROCE (from the 3rd quartile).
- MarPriceFell 69% from the Jan 2019 peak to the Mar 2020 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 history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | — | ₹42 cr | -94.4% | 14.3% | 35.2x |
| 2026-10 | — | ₹42 cr | -94.4% | 14.3% | 35.2x |
| 2026-09 | — | ₹42 cr | -94.4% | 14.3% | 35.2x |
| 2026-08 | — | ₹46 cr | -6.1% | 14.3% | 35.2x |
| 2026-07 | — | ₹46 cr | -6.1% | 14.3% | 35.2x |
| 2026-06 | — | ₹46 cr | -6.1% | 14.3% | 35.2x |
| 2026-05 | — | ₹45 cr | -338.8% | 3.9% | 36.9x |
| 2026-04 | — | ₹45 cr | -338.8% | 3.9% | 36.9x |
| 2026-03 | — | ₹45 cr | -338.8% | 3.9% | 36.9x |
| 2026-02 | — | ₹42 cr | — | 3.9% | 36.9x |
| 2026-01 | — | ₹42 cr | — | 3.9% | 36.9x |
| 2025-12 | — | ₹42 cr | — | 3.9% | 36.9x |
| 2025-11 | — | ₹36 cr | — | 3.9% | 36.9x |
| 2025-10 | — | ₹36 cr | — | 3.9% | 36.9x |
| 2025-09 | — | ₹36 cr | — | 3.9% | 36.9x |
| 2025-08 | — | ₹33 cr | — | 3.9% | 36.9x |
| 2025-07 | — | ₹33 cr | — | 3.9% | 36.9x |
| 2025-06 | — | ₹33 cr | — | 3.9% | 36.9x |
| 2025-05 | — | ₹34 cr | -74.5% | 3.0% | 1.5x |
| 2025-04 | — | ₹34 cr | -74.5% | 3.0% | 1.5x |
| 2025-03 | — | ₹34 cr | -74.5% | 3.0% | 1.5x |
| 2025-02 | 34.0x | ₹35 cr | 2.6% | 3.0% | 1.5x |
| 2025-01 | 44.3x | ₹35 cr | 2.6% | 3.0% | 1.5x |
| 2024-12 | 49.4x | ₹35 cr | 2.6% | 3.0% | 1.5x |
| 2024-11 | — | ₹31 cr | -1.0% | 3.0% | 1.5x |
| 2024-10 | — | ₹31 cr | -1.0% | 3.0% | 1.5x |
| 2024-09 | — | ₹31 cr | -1.0% | 3.0% | 1.5x |
| 2024-08 | — | ₹30 cr | -2.1% | 3.0% | 1.5x |
| 2024-07 | — | ₹30 cr | -2.1% | 3.0% | 1.5x |
| 2024-06 | — | ₹30 cr | -2.1% | 3.0% | 1.5x |
| 2024-05 | 23.9x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2024-04 | 28.1x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2024-03 | 24.7x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2024-02 | 23.8x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2024-01 | 34.8x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-12 | 30.0x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-11 | 21.3x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-10 | 19.9x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-09 | 22.6x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-08 | 19.9x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-07 | 19.0x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-06 | 18.8x | ₹37 cr | 4.1% | 7.5% | 1.5x |
| 2023-05 | 8.2x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2023-04 | 8.6x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2023-03 | 7.8x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2023-02 | 9.0x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2023-01 | 9.9x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-12 | 9.6x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-11 | 9.7x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-10 | 9.1x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-09 | 9.8x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-08 | 8.6x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-07 | 8.4x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-06 | 7.9x | ₹43 cr | 9.6% | 9.2% | 1.6x |
| 2022-05 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2022-04 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2022-03 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2022-02 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2022-01 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-12 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-11 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-10 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-09 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-08 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-07 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-06 | — | ₹31 cr | -7.1% | 3.5% | 1.8x |
| 2021-05 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2021-04 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2021-03 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2021-02 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2021-01 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-12 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-11 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-10 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-09 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-08 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-07 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-06 | — | ₹30 cr | -3.2% | 1.5% | 1.7x |
| 2020-05 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2020-04 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2020-03 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2020-02 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2020-01 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-12 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-11 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-10 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-09 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-08 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-07 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-06 | — | ₹35 cr | -7.0% | 3.0% | 1.7x |
| 2019-05 | — | ₹60 cr | -12.1% | 3.7% | 1.5x |
| 2019-04 | — | ₹60 cr | -12.1% | 3.7% | 1.5x |
| 2019-03 | — | ₹60 cr | -12.1% | 3.7% | 1.5x |
| 2019-02 | — | ₹60 cr | -12.1% | 3.7% | 1.5x |
| 2019-01 | — | ₹60 cr | -12.1% | 3.7% | 1.5x |