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EPIGRAL LIMITED (EPIGRAL)

Process Industries · Chemicals: Agricultural · 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 79Growth 47Balance sheet 70
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.16 / 100
Price 13Earnings 14FII/DII 21
Compare withFERTILIZERS AND CHEMICALS TRAVUPLSUMITOMO CHEMICAL INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹890.25 latest close · −12.9% over the last 90 sessions

₹1,000₹1,200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,000₹1,200Jul 3Sep 4Nov 9

₹890.25 month-end · −41.1% over 12 months

₹750₹1,000₹1,250₹1,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹750₹1,000₹1,250₹1,500Nov '25May '26Nov '26

₹890.25 month-end · −1.6% over 3 years

₹1,000₹1,500₹2,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,000₹1,500₹2,000Nov '23May '25Nov '26

₹890.25 month-end · +48.3% since Aug '21

₹1,000₹2,000Aug '21Sep '22Sep '23Oct '24Oct '25Nov '26 ₹1,000₹2,000Aug '21Apr '24Nov '26

52-week range ₹807.00 to ₹1709.00 · 1-year volatility 42.9%

Was the rally earned?

-41%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 37 points, while the multiple moved less (P/E 15.0x to 14.2x).
  • The share count barely moved.
Net profit growth: −36 pts. Points of the price return explained by net profit growing (or shrinking).−36 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: −41%−41%Share priceNet profit growth: −36 pts. Points of the price return explained by net profit growing (or shrinking).−36ProfitP/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: −41%−41%Share price
Net profit growth-36 ptsNet profit fell about 37%, which lowers the price.
P/E change-4 ptsThe P/E fell from 15.0x to 14.2x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-2%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (-2%).
  • The share count rose 4%.
Net profit growth: −26 pts. Points of the price return explained by net profit growing (or shrinking).−26 ptsNet profit growthP/E change: +28 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+28 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: −2%−2%Share priceNet profit growth: −26 pts. Points of the price return explained by net profit growing (or shrinking).−26ProfitP/E change: +28 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+28P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: −2%−2%Share price
Net profit growth-26 ptsNet profit fell about 23%, which lowers the price.
P/E change+28 ptsThe P/E rose from 10.6x to 14.2x, which lifts the price.
Share count change-4 ptsShare count rose 4%, which lowers the price.
+33%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 109 points, but investors now pay less per rupee of profit (P/E 27.3x to 14.2x), which took 76 points back.
  • The share count rose 5%.
Net profit growth: +114 pts. Points of the price return explained by net profit growing (or shrinking).+114 ptsNet profit growthP/E change: −76 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−76 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: +33%+33%Share priceNet profit growth: +114 pts. Points of the price return explained by net profit growing (or shrinking).+114ProfitP/E change: −76 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−76P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: +33%+33%Share price
Net profit growth+114 ptsNet profit rose about 168%, which lifts the price.
P/E change-76 ptsThe P/E fell from 27.3x to 14.2x, which lowers the price.
Share count change-5 ptsShare count rose 5%, 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 FERTILIZERS AND CHEMICALS TRAV

How rough has the ride been?

Maximum drawdown-65.4%not yet recovered
1-year volatility42.9%annualised
Beta vs sector index1.493-year daily, correlation 0.55
Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20222023202420252026−64.2% 0%−20%−40%−60%202220242026−64.2%
Largest drawdowns

-65.4% (2024-10 peak to 2026-03 low, not yet recovered)

-52.0% (2022-09 peak to 2023-03 low, recovered 2024-07)

-33.9% (2021-10 peak to 2021-11 low, recovered 2022-03)

Most recent volume spikes

2026-11-02: 14.3x the 50-day median, price +8.8% that day

2026-08-24: 8.7x the 50-day median, price +6.8% that day

2026-08-20: 5.8x the 50-day median, price +3.5% 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?

14.2xP/E todayWithin its usual range
Against its own history28th percentile
CheapestMedian 18.8xDearest

Usual range 11.5x to 36.2x since 2021-08.

Against Process Industries14.2x vs 18.1x
This company
14.2x
Sector median
18.1x

22% below the Process Industries median.

9.6x26.0x42.5x59.0xAug '21Sep '22Oct '23Nov '24Dec '25Nov '269.6x26.0x42.5x59.0xAug '21May '23Feb '25Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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▼ 22 pts vs a year ago
  • Op. margin90th▼ 4 pts vs a year ago
  • Revenue growth42nd▼ 32 pts vs a year ago
  • EPS growth17th▼ 68 pts vs a year ago
  • Debt/equity ↓60th▲ 3 pts vs a year ago
  • Cash cycle ↓65th▲ 5 pts vs a year ago
  • P/E ↓62nd▼ 6 pts vs a year ago
  • 12M momentum8th▼ 32 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~10%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 12.9x, a holder earning 12%/yr needs earnings to grow about 9.8%/yr for 10 years, then trade at 15x.

Delivered7.2%/yrEPS, last 6 fiscal years · 3-yr avg to 3-yr avg
Gap+2.7 ptsimplied minus delivered
Rank481stmost demanding of 856

Over time

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

0%14%28% Aug 2021Nov 2026 0%14%28% Aug 2021Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x11.2%12.2%13.2%
15x8.8%9.8%10.8%
20x5.8%6.8%7.7%

Drag a slider to test other assumptions

Implied: 9.8%/yr

Looking back

  • Jan 2022Price implied 22%/yr; EPS has since grown 26%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹890.25
P/E
14.2x
ROCE
15.0%
Market Cap
₹3843 cr
Revenue (TTM)
₹2625 cr
P/S
1.5x
P/B
1.7x
ROE
12.2%
Operating Margin
25.0%
Debt / Equity
0.3x
Promoter Holding
68.8%
12M Momentum
-41.1%

52-week range

₹807.00₹1709.00
9% of the way from its 52-week low to its high

Price risk

1Y volatility
42.9%
Beta vs sector
1-year daily
1.38

Balance sheet & cash

Interest cover
operating profit ÷ interest
7.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.44x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance3%Within range

Other income as a share of pre-tax profit (trailing twelve months): 3.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate30%Within range

Median quarterly effective tax rate over about 2.5 years: 30.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.44xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.44x (cash from operations ₹1,275 cr, net profit ₹886 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+27 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 27 days (60 vs 33). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress21% of fixed assetsWithin range

Capital work-in-progress is 21% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+3 days / 2 yrsWithin range

Days payable changed by +3 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, DIIs added 5.5 pts; promoters trimmed 2.5 pts.
  • The number of shareholders fell from 95,742 to 76,305 (-20%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters71.4%68.8%-2.5 pts
FIIs1.1%1.0%-0.1 pts
DIIs0.0%5.6%+5.5 pts
Public and others27.4%24.6%-2.8 pts

Number of shareholders

76,305shareholders-20% since Sep '23
76k83k89k96k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 95,742
Dec '23: 92,959
Mar '24: 88,870
Jun '24: 85,761
Sep '24: 83,176
Dec '24: 81,697
Mar '25: 80,878
Jun '25: 79,951
Sep '25: 78,605
Dec '25: 77,562
Mar '26: 77,583
Jun '26: 76,305
 76k83k89k96k Sep '23Sep '24Sep '25Jun '26
Sep '23: 95,742
Dec '23: 92,959
Mar '24: 88,870
Jun '24: 85,761
Sep '24: 83,176
Dec '24: 81,697
Mar '25: 80,878
Jun '25: 79,951
Sep '25: 78,605
Dec '25: 77,562
Mar '26: 77,583
Jun '26: 76,305

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

+3.2%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 EPIGRAL 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 −21% to +38% vs the market, against +3% for all non-financial companies in the same months.
  • The gap against the base rate (+0.3%, 80% range −10.4% to +11.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
VALIANTORG · Jul 2023: −50.3% vs market
ASIANTILES · Mar 2022: −50.2% vs market
GANESHBE · Jan 2025: −44.8% vs market
OAL · May 2023: −31.3% vs market
RUPA · Sep 2022: −30.6% vs market
INDOCO · Oct 2023: −29.9% vs market
GATEWAY · Dec 2024: −29.3% vs market
GHCL · May 2023: −27.5% vs market
BIRLANU · Jun 2022: −27.3% vs market
HIKAL · Nov 2022: −26.8% vs market
CAPACITE · Oct 2020: −24.0% vs market
GAEL · Jun 2023: −22.0% vs market
RANEHOLDIN · Feb 2020: −21.3% vs market
AARTIDRUGS · Dec 2023: −19.9% vs market
JAGRAN · Apr 2020: −19.1% vs market
GVT&D · Dec 2020: −15.5% vs market
SIYSIL · Apr 2020: −8.9% vs market
JKIL · Oct 2020: −8.2% vs market
GEOJITFSL · Oct 2025: −8.1% vs market
APEX · Feb 2021: −6.5% vs market
HARSHA · Jan 2024: −5.0% vs market
BLISSGVS · Mar 2022: −2.8% vs market
DALMIASUG · Aug 2022: −2.3% vs market
EPL · Apr 2024: +2.5% vs market
TIIL · Feb 2020: +2.6% vs market
BODALCHEM · Jun 2020: +3.9% vs market
WELENT · Jun 2020: +6.6% vs market
CONFIPET · Apr 2022: +10.8% vs market
LUXIND · Nov 2023: +11.0% vs market
VAIBHAVGBL · Jan 2023: +17.4% vs market
JKLAKSHMI · Jul 2022: +20.1% vs market
HSCL · May 2021: +22.0% vs market
NRBBEARING · Mar 2022: +22.4% vs market
GLENMARK · Feb 2020: +23.4% vs market
CIEINDIA · Jun 2020: +23.9% vs market
USHAMART · Aug 2024: +24.9% vs market
AEGISLOG · Jun 2022: +27.9% vs market
DOLLAR · Jun 2020: +41.2% vs market
FSL · Nov 2022: +41.3% vs market
HFCL · Nov 2023: +49.8% vs market
TCI · Jun 2020: +50.9% vs market
ABREL · Nov 2020: +54.4% vs market
SPAL · Sep 2020: +54.9% vs market
SHK · May 2020: +69.1% vs market
DCMSHRIRAM · Jun 2020: +75.8% vs market
ZENSARTECH · Jan 2023: +79.3% vs market
CYIENT · Jun 2020: +90.7% vs market
KIRLOSBROS · May 2022: +97.8% vs market
MARKSANS · Jul 2022: +112.7% vs market
SMSPHARMA · Feb 2020: +170.5% vs market
Similar setups +3.2%All companies +2.9%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
+3.2%
All companies' median
+2.9%
Beat the market
54% vs 53%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INDOCO
Health Technology		 Oct 2023 21x17% −10%−24% −30%
SIYSIL
Process Industries		 Apr 2020 6x17% −62%−67% −9%
SHK
Process Industries		 May 2020 9x12% −64%−64% +69%
CAPACITE
Industrial Services		 Oct 2020 10x14% −37%−41% −24%
JAGRAN
Consumer Services		 Apr 2020 4x17% −63%−65% −19%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TCI
Transportation		 Jun 2020 9x14% −46%−46% +51%
AARTIDRUGS
Health Technology		 Dec 2023 27x15% +6%−21% −20%
FSL
Commercial Services		 Nov 2022 14x17% −35%−42% +41%
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: P/S, 12-month momentum 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 EPIGRAL 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.

KALYANI STEELSKSL
Non-Energy Minerals
75%similar
ROCEP/E
DATAMATICS GLOBAL SERVICES LIMDATAMATICS
Technology Services
68%similar
market cappromoter holding
G N A AXLESGNA
Producer Manufacturing
64%similar
debt/equityROCE
UNIPARTS INDIAUNIPARTS
Producer Manufacturing
64%similar
operating marginmarket cap
ENVIRO INFRA ENGINEERSEIEL
Industrial Services
62%similar
promoter holdingmarket cap
SPORTKING INDIASPORTKING
Process Industries
62%similar
revenuerevenue growth
KRBLKRBL
Process Industries
59%similar
ROCEP/E
VISHNU CHEMICALSVISHNU
Process Industries
57%similar
market cappromoter holding

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

What changed?

30 events since Apr '24

  1. NovPriceVolume reached 14.3x its 50-day median on 2026-11-02; price +8.8% that day.
  2. SepResultsRevenue (TTM) reached a new high of ₹2,625 cr.
  3. SepPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
  4. JulPriceVolume reached 21.0x its 50-day median on 2026-07-13; price +9.3% that day.
  5. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  6. MayPriceVolume reached 12.7x its 50-day median on 2026-05-04; price +9.3% that day.
  7. MarResultsYear-on-year EPS growth turned negative.
  8. MarPriceFell 65% from the Oct 2024 peak to the Mar 2026 low.
Show 22 earlier events
  1. MarPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  2. JanValuationP/E fell below the 10th percentile of its own history to date (11.2x).
  3. JanDebtDebt / equity halved over 12 months to 0.31x.
  4. JanPriceVolume reached 13.5x its 50-day median on 2026-01-05; price -4.5% that day.
  5. DecPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
  6. DecPriceVolume reached 18.3x its 50-day median on 2025-12-22; price -4.1% that day.
  7. JulPriceVolume reached 19.6x its 50-day median on 2025-07-30; price +6.9% that day.
  8. JunResultsYear-on-year EPS growth turned positive.
  9. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  10. JunDebtDebt / equity halved over 12 months to 0.31x.
  11. MayPriceVolume reached 9.4x its 50-day median on 2025-05-05; price +0.9% that day.
  12. MarPromoterPromoter holding fell 2.6 pts to 68.9%.
  13. MarInstitutionsFII + DII holding rose 5.7 pts over 2 quarters to 7.3%.
  14. MarPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
  15. JanPriceVolume reached 7.9x its 50-day median on 2025-01-27; price +5.7% that day.
  16. DecResultsRevenue (TTM) reached a new high of ₹2,274 cr.
  17. JulPriceRegained the 2022-09 peak, 16 months after the low.
  18. JulValuationP/E crossed above the 90th percentile of its own history to date (36.6x).
  19. JulPriceVolume reached 18.2x its 50-day median on 2024-07-24; price +12.8% that day.
  20. JunResultsYear-on-year EPS growth turned negative.
  21. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  22. AprPriceVolume reached 17.4x its 50-day median on 2024-04-02; price +13.7% 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

Monthly history64 months · 2021-08 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1114.2x₹2625 cr12.2%15.0%0.3x
2026-1013.9x₹2625 cr12.2%15.0%0.3x
2026-0916.1x₹2625 cr12.2%15.0%0.3x
2026-0815.6x₹2527 cr14.9%15.0%0.3x
2026-0714.1x₹2527 cr14.9%15.0%0.3x
2026-0614.1x₹2527 cr14.9%15.0%0.3x
2026-0514.8x₹2419 cr17.8%25.0%0.3x
2026-0415.5x₹2419 cr17.8%25.0%0.3x
2026-0310.3x₹2419 cr17.8%25.0%0.3x
2026-029.6x₹2467 cr21.2%25.0%0.3x
2026-0111.2x₹2467 cr21.2%25.0%0.3x
2025-1213.1x₹2467 cr21.2%25.0%0.3x
2025-1115.0x₹2506 cr22.7%25.0%0.3x
2025-1016.7x₹2506 cr22.7%25.0%0.3x
2025-0916.7x₹2506 cr22.7%25.0%0.3x
2025-0821.5x₹2550 cr18.8%25.0%0.3x
2025-0723.9x₹2550 cr18.8%25.0%0.3x
2025-0621.4x₹2550 cr18.8%25.0%0.3x
2025-0521.5x₹2447 cr27.7%17.0%0.8x
2025-0420.9x₹2447 cr27.7%17.0%0.8x
2025-0323.0x₹2447 cr27.7%17.0%0.8x
2025-0222.8x₹2274 cr23.3%17.0%0.8x
2025-0126.1x₹2274 cr23.3%17.0%0.8x
2024-1226.8x₹2274 cr23.3%17.0%0.8x
2024-1134.6x₹2126 cr19.9%17.0%0.8x
2024-1035.2x₹2126 cr19.9%17.0%0.8x
2024-0938.0x₹2126 cr19.9%17.0%0.8x
2024-0839.5x₹1930 cr15.6%17.0%0.8x
2024-0736.6x₹1930 cr15.6%17.0%0.8x
2024-0628.1x₹1930 cr15.6%17.0%0.8x
2024-0514.3x₹2188 cr33.0%32.0%0.8x
2024-0415.6x₹2188 cr33.0%32.0%0.8x
2024-0312.9x₹2188 cr33.0%32.0%0.8x
2024-0213.9x₹2188 cr33.0%32.0%0.8x
2024-0112.2x₹2188 cr33.0%32.0%0.8x
2023-1211.5x₹2188 cr33.0%32.0%0.8x
2023-1110.6x₹2188 cr33.0%32.0%0.8x
2023-1010.5x₹2188 cr33.0%32.0%0.8x
2023-0911.7x₹2188 cr33.0%32.0%0.8x
2023-0811.8x₹2188 cr33.0%32.0%0.8x
2023-0711.1x₹2188 cr33.0%32.0%0.8x
2023-0613.0x₹2188 cr33.0%32.0%0.8x
2023-0515.2x₹1551 cr34.8%29.0%1.4x
2023-0415.7x₹1551 cr34.8%29.0%1.4x
2023-0315.5x₹1551 cr34.8%29.0%1.4x
2023-0216.8x₹1551 cr34.8%29.0%1.4x
2023-0117.2x₹1551 cr34.8%29.0%1.4x
2022-1220.5x₹1551 cr34.8%29.0%1.4x
2022-1120.9x₹1551 cr34.8%29.0%1.4x
2022-1021.6x₹1551 cr34.8%29.0%1.4x
2022-0923.4x₹1551 cr34.8%29.0%1.4x
2022-0823.5x₹1551 cr34.8%29.0%1.4x
2022-0724.8x₹1551 cr34.8%29.0%1.4x
2022-0620.9x₹1551 cr34.8%29.0%1.4x
2022-0557.4x₹829 cr21.3%—1.6x
2022-0459.0x₹829 cr21.3%—1.6x
2022-0339.7x₹829 cr21.3%—1.6x
2022-0231.0x₹829 cr21.3%—1.6x
2022-0136.0x₹829 cr21.3%—1.6x
2021-1230.9x₹829 cr21.3%—1.6x
2021-1127.3x₹829 cr21.3%—1.6x
2021-1036.2x₹829 cr21.3%—1.6x
2021-0931.8x₹829 cr21.3%—1.6x
2021-0824.5x₹829 cr21.3%—1.6x

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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