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ERIS LIFESCIENCES LIMITED (ERIS)

Health Technology · Pharmaceuticals: Major · 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.56 / 100
Profitability 72Growth 74Balance sheet 20
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.49 / 100
Price 40Earnings 62FII/DII 47

Passes these screensPromoters buying

Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIESTORRENT PHARMACEUTICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,261.6 latest close · −11.8% over the last 90 sessions

₹1,200₹1,400Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,200₹1,400Jul 3Sep 4Nov 9

₹1,261.6 month-end · −20.9% over 12 months

₹1,200₹1,400₹1,600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,200₹1,400₹1,600Nov '25May '26Nov '26

₹1,261.6 month-end · +35.0% over 3 years

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

₹1,261.6 month-end · +101.1% since Jan '19

₹500₹1,000₹1,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000₹1,500Jan '19Dec '22Nov '26

52-week range ₹1069.00 to ₹1740.00 · 1-year volatility 31.1%

Was the rally earned?

-21%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 44 points, but investors now pay less per rupee of profit (P/E 56.1x to 27.0x), which took 65 points back.
  • The share count fell 4%.
Net profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41 ptsNet profit growthP/E change: −65 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−65 ptsP/E changeShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3 ptsShare count changeShare price: −21%−21%Share priceNet profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41ProfitP/E change: −65 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−65P/EShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3SharesShare price: −21%−21%Share price
Net profit growth+41 ptsNet profit rose about 58%, which lifts the price.
P/E change-65 ptsThe P/E fell from 56.1x to 27.0x, which lowers the price.
Share count change+3 ptsShare count fell 4%, which lifts the price.
+35%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 59 points, but investors now pay less per rupee of profit (P/E 33.3x to 27.0x), which took 24 points back.
  • The share count rose 4%.
Net profit growth: +64 pts. Points of the price return explained by net profit growing (or shrinking).+64 ptsNet profit growthP/E change: −24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−24 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: +35%+35%Share priceNet profit growth: +64 pts. Points of the price return explained by net profit growing (or shrinking).+64ProfitP/E change: −24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−24P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: +35%+35%Share price
Net profit growth+64 ptsNet profit rose about 73%, which lifts the price.
P/E change-24 ptsThe P/E fell from 33.3x to 27.0x, which lowers the price.
Share count change-5 ptsShare count rose 4%, which lowers the price.
+75%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 78 points, but investors now pay less per rupee of profit (P/E 27.5x to 27.0x), which took 3 points back.
  • The share count rose 2%.
Net profit growth: +81 pts. Points of the price return explained by net profit growing (or shrinking).+81 ptsNet profit growthP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3 ptsP/E changeShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3 ptsShare count changeShare price: +75%+75%Share priceNet profit growth: +81 pts. Points of the price return explained by net profit growing (or shrinking).+81ProfitP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3P/EShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3SharesShare price: +75%+75%Share price
Net profit growth+81 ptsNet profit rose about 83%, which lifts the price.
P/E change-3 ptsThe P/E fell from 27.5x to 27.0x, which lowers the price.
Share count change-3 ptsShare count rose 2%, 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 SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-48.8%recovered 2021-05
1-year volatility31.1%annualised
Beta vs sector index0.763-year daily, correlation 0.36
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−47.7% 0%−20%−40%2020202220242026−47.7%
Largest drawdowns

-48.8% (2019-01 peak to 2020-03 low, recovered 2021-05)

-40.7% (2025-06 peak to 2026-10 low, not yet recovered)

-32.1% (2021-10 peak to 2023-03 low, recovered 2023-08)

Most recent volume spikes

2026-10-27: 14x the 50-day median, price +8.4% that day

2026-10-26: 8.3x the 50-day median, price +0.9% that day

2026-10-08: 8.4x the 50-day median, price +0.8% 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?

27.0xP/E todayWithin its usual range
Against its own history44th percentile
CheapestMedian 27.9xDearest

Usual range 21.3x to 52.8x since 2019-01.

Against Health Technology27.0x vs 37.0x
This company
27.0x
Sector median
37.0x

27% below the Health Technology median.

16.7x34.3x51.9x69.5xJan '19Aug '20Mar '22Oct '23May '25Nov '2616.7x34.3x51.9x69.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianHealth Technology 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 Health Technology is valued

Where does it rank among Health Technology peers?

Each cell is the company's percentile rank among its Health Technology 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

  • ROCE49th▲ 10 pts vs a year ago
  • Op. margin96thflat vs a year ago
  • Revenue growth42nd▼ 49 pts vs a year ago
  • EPS growth82nd▲ 37 pts vs a year ago
  • Debt/equity ↓16th▲ 11 pts vs a year ago
  • Cash cycle ↓57th▼ 25 pts vs a year ago
  • P/E ↓67th▲ 43 pts vs a year ago
  • 12M momentum15th▼ 71 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 Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 40.8x, a holder earning 12%/yr needs earnings to grow about 22.7%/yr for 10 years, then trade at 15x.

Delivered7.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+14.8 ptsimplied minus delivered
Rank230thmost demanding of 856

Over time

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

0%15%29% Jan 2019Nov 2026 0%15%29% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.2%25.3%26.4%
15x21.6%22.7%23.8%
20x18.3%19.4%20.5%

Drag a slider to test other assumptions

Implied: 22.7%/yr

Looking back

  • Jan 2020Price implied 22%/yr; EPS has since grown 12%/yr (7.0 yrs)
  • Jan 2021Price implied 21%/yr; EPS has since grown 14%/yr (6.0 yrs)
  • Jan 2022Price implied 21%/yr; EPS has since grown 13%/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 Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1261.60
P/E
27.0x
ROCE
14.0%
Market Cap
₹17510 cr
Revenue (TTM)
₹3229 cr
P/S
5.4x
P/B
4.5x
ROE
16.6%
Operating Margin
34.0%
Debt / Equity
0.6x
Promoter Holding
54.1%
12M Momentum
-20.9%

52-week range

₹1069.00₹1740.00
29% of the way from its 52-week low to its high

Price risk

1Y volatility
31.1%
Beta vs sector
1-year daily
0.81

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.47x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance-2%Within range

Other income as a share of pre-tax profit (trailing twelve months): -1.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.47xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.47x (cash from operations ₹2,089 cr, net profit ₹1,420 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+16 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 16 days (79 vs 63). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress3% of fixed assetsWithin range

Capital work-in-progress is 3% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-59 days / 2 yrsWithin range

Days payable changed by -59 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 7.4 pts; DIIs added 6.2 pts; promoters trimmed 0.8 pts.
  • The number of shareholders rose from 42,245 to 50,798 (+20%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters54.9%54.1%-0.8 pts
FIIs13.2%5.8%-7.4 pts
DIIs14.5%20.7%+6.2 pts
Public and others17.4%19.4%+2.0 pts

Number of shareholders

50,798shareholders+20% since Sep '23
42k48k54k59k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 42,245
Dec '23: 46,496
Mar '24: 51,753
Jun '24: 44,176
Sep '24: 46,346
Dec '24: 53,314
Mar '25: 50,087
Jun '25: 52,225
Sep '25: 59,438
Dec '25: 54,713
Mar '26: 51,656
Jun '26: 50,798
 42k48k54k59k Sep '23Sep '24Sep '25Jun '26
Sep '23: 42,245
Dec '23: 46,496
Mar '24: 51,753
Jun '24: 44,176
Sep '24: 46,346
Dec '24: 53,314
Mar '25: 50,087
Jun '25: 52,225
Sep '25: 59,438
Dec '25: 54,713
Mar '26: 51,656
Jun '26: 50,798

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

+10.4%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 ERIS LIFESCIENCES 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 −20% to +32% vs the market, against 0% for all non-financial companies in the same months.
  • The gap against the base rate (+10.6%, 80% range −2.9% to +16.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
MANYAVAR · Jan 2025: −51.0% vs market
SHILPAMED · Dec 2021: −49.8% vs market
SULA · May 2024: −46.4% vs market
BATAINDIA · Aug 2025: −40.3% vs market
BRIGADE · Jun 2025: −40.0% vs market
CROMPTON · Mar 2023: −38.6% vs market
RAMCOCEM · Jun 2021: −37.9% vs market
EPL · Mar 2021: −33.7% vs market
SYMPHONY · Apr 2023: −33.4% vs market
SYNGENE · May 2025: −33.1% vs market
TATACHEM · May 2023: −26.1% vs market
5PAISA · May 2025: −22.0% vs market
SAPPHIRE · Aug 2023: −20.5% vs market
BALKRISIND · Nov 2024: −20.0% vs market
KNRCON · Jul 2022: −18.2% vs market
JYOTHYLAB · Feb 2020: −11.2% vs market
DALBHARAT · Nov 2021: −11.0% vs market
ASTERDM · May 2020: −6.1% vs market
NHPC · Jun 2025: −5.4% vs market
BAJAJELEC · Feb 2022: −3.9% vs market
ANURAS · Feb 2023: −0.8% vs market
JKCEMENT · Dec 2022: +2.1% vs market
GLENMARK · Apr 2020: +7.1% vs market
IPCALAB · Aug 2023: +7.6% vs market
TEGA · Jun 2025: +8.7% vs market
JSWENERGY · Dec 2022: +12.0% vs market
FORTIS · Apr 2023: +13.8% vs market
MOTILALOFS · Apr 2021: +14.6% vs market
SANSERA · Sep 2022: +15.3% vs market
OBEROIRLTY · Jan 2023: +15.9% vs market
TORNTPHARM · Apr 2022: +19.0% vs market
PHOENIXLTD · Apr 2021: +22.5% vs market
AARTIIND · Feb 2021: +24.9% vs market
ULTRACEMCO · Aug 2020: +26.0% vs market
RAINBOW · Aug 2024: +28.5% vs market
GREENLAM · Jun 2021: +28.7% vs market
SUNDRMFAST · Apr 2022: +31.6% vs market
ADANIPORTS · Sep 2020: +32.0% vs market
VBL · Apr 2021: +38.2% vs market
SUPRAJIT · Jul 2020: +41.2% vs market
ASAHIINDIA · Jul 2020: +42.2% vs market
ZYDUSLIFE · Jan 2020: +42.8% vs market
CCL · Jun 2022: +44.3% vs market
KIMS · Jun 2024: +58.3% vs market
NAVINFLUOR · Dec 2024: +72.8% vs market
NH · Jun 2024: +76.4% vs market
SRF · Feb 2021: +82.6% vs market
INDHOTEL · Apr 2021: +91.8% vs market
CENTURYPLY · May 2020: +124.7% vs market
FLUOROCHEM · Feb 2021: +272.2% vs market
Similar setups +10.4%All companies −0.2%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
+10.4%
All companies' median
−0.2%
Beat the market
58% vs 50%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BRIGADE
Finance		 Jun 2025 39x13% −18%−23% −40%
PHOENIXLTD
Finance		 Apr 2021 33x9% +32%−16% +23%
SRF
Process Industries		 Feb 2021 31x14% +40%−10% +83%
JKCEMENT
Non-Energy Minerals		 Dec 2022 33x17% −14%−19% +2%
RAMCOCEM
Non-Energy Minerals		 Jun 2021 31x15% +62%−5% −38%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ZYDUSLIFE
Health Technology		 Jan 2020 15x15% −17%−24% +43%
AARTIIND
Process Industries		 Feb 2021 40x15% +27%−8% +25%
TORNTPHARM
Health Technology		 Apr 2022 38x17% +12%−14% +19%
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 revenue growth. 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 ERIS LIFESCIENCES 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.

BRIGADE ENTERPRISESBRIGADE
Finance
68%similar
market capoperating margin
CCL PRODUCTS INDIACCL
Consumer Non-Durables
67%similar
debt/equityvolatility
CHALET HOTELSCHALET
Consumer Services
67%similar
market capdebt/equity
RAINBOW CHILDRENS MEDICARERAINBOW
Health Services
66%similar
debt/equityoperating margin
NUVAMA WEALTH MANAGEMENTNUVAMA
Finance
65%similar
promoter holdingrevenue growth
AUROBINDO PHARMAAUROPHARMA
Health Technology
55%similar
P/EROCE
GRANULES INDIAGRANULES
Health Technology
54%similar
market capvolatility
IPCA LABORATORIESIPCALAB
Health Technology
50%similar
volatilitymarket cap

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

What changed?

30 events since Jul '23

  1. OctPriceFell 41% from the Jun 2025 peak to the Oct 2026 low.
  2. OctPriceVolume reached 14.0x its 50-day median on 2026-10-27; price +8.4% that day.
  3. SepPriceVolume reached 15.5x its 50-day median on 2026-09-29; price -1.4% that day.
  4. MayPriceVolume reached 23.3x its 50-day median on 2026-05-20; price +9.1% that day.
  5. MarPeer rankMoved into the top quartile of Health Technology on EPS growth (from the 2nd quartile).
  6. DecPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
  7. DecPriceVolume reached 55.7x its 50-day median on 2025-12-09; price +10.9% that day.
  8. SepResultsYear-on-year EPS growth turned positive.
Show 22 earlier events
  1. SepPriceVolume reached 8.0x its 50-day median on 2025-09-12; price -1.4% that day.
  2. JunPeer rankMoved into the 3rd quartile of Health Technology on EPS growth (from the bottom quartile).
  3. JunDebtDebt / equity fell below 1.0x (0.87x).
  4. JunDividendStarted paying a dividend (payout 28% of profit).
  5. JunPriceVolume reached 19.6x its 50-day median on 2025-06-12; price +4.4% that day.
  6. FebPriceVolume reached 26.4x its 50-day median on 2025-02-05; price +12.9% that day.
  7. DecPeer rankSlipped to the bottom quartile of Health Technology on EPS growth (from the 3rd quartile).
  8. OctPriceVolume reached 16.5x its 50-day median on 2024-10-03; price +0.4% that day.
  9. SepResultsYear-on-year EPS growth turned negative.
  10. SepInstitutionsFII + DII holding rose 3.1 pts over 2 quarters to 30.8%.
  11. JulPriceVolume reached 25.7x its 50-day median on 2024-07-15; price -2.7% that day.
  12. JunResultsYear-on-year EPS growth turned positive.
  13. JunPeer rankSlipped to the 3rd quartile of Health Technology on ROCE (from the 2nd quartile).
  14. JunDebtDebt / equity rose above 1.0x (1.07x).
  15. JunDividendDividend payout cut from 26% to 0% of profit.
  16. JunPriceVolume reached 8.7x its 50-day median on 2024-06-06; price +6.6% that day.
  17. AprValuationP/E crossed above the 90th percentile of its own history to date (31.9x).
  18. JanPriceVolume reached 28.4x its 50-day median on 2024-01-31; price -0.1% that day.
  19. NovPriceVolume reached 23.8x its 50-day median on 2023-11-09; price +1.6% that day.
  20. SepValuationP/E crossed above the 90th percentile of its own history to date (31.2x).
  21. AugPriceRegained the 2021-10 peak, 5 months after the low.
  22. JulPriceVolume reached 63.9x its 50-day median on 2023-07-31; price +2.1% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1127.0x₹3229 cr16.6%14.0%0.6x
2026-1024.7x₹3229 cr17.0%14.0%0.6x
2026-0925.5x₹3229 cr17.0%14.0%0.6x
2026-0828.7x₹3129 cr16.6%14.0%0.6x
2026-0730.0x₹3129 cr16.6%14.0%0.6x
2026-0631.8x₹3129 cr16.6%14.0%0.6x
2026-0544.1x₹3077 cr16.5%12.0%0.9x
2026-0441.7x₹3077 cr16.5%12.0%0.9x
2026-0340.9x₹3077 cr16.5%12.0%0.9x
2026-0244.5x₹2997 cr15.7%12.0%0.9x
2026-0145.1x₹2997 cr15.7%12.0%0.9x
2025-1249.3x₹2997 cr15.7%12.0%0.9x
2025-1156.1x₹2946 cr14.4%12.0%0.9x
2025-1056.0x₹2946 cr14.4%12.0%0.9x
2025-0955.8x₹2946 cr14.4%12.0%0.9x
2025-0869.5x₹2893 cr13.1%12.0%0.9x
2025-0769.5x₹2893 cr13.1%12.0%0.9x
2025-0665.0x₹2893 cr13.1%12.0%0.9x
2025-0565.3x₹2739 cr13.6%11.0%1.1x
2025-0459.1x₹2739 cr13.6%11.0%1.1x
2025-0358.5x₹2739 cr13.6%11.0%1.1x
2025-0246.2x₹2498 cr14.2%11.0%1.1x
2025-0147.9x₹2498 cr14.2%11.0%1.1x
2024-1253.6x₹2498 cr14.2%11.0%1.1x
2024-1151.5x₹2262 cr15.2%11.0%1.1x
2024-1047.3x₹2262 cr15.2%11.0%1.1x
2024-0947.7x₹2262 cr15.2%11.0%1.1x
2024-0848.2x₹2009 cr15.3%11.0%1.1x
2024-0739.3x₹2009 cr15.3%11.0%1.1x
2024-0635.5x₹2009 cr15.3%11.0%1.1x
2024-0532.6x₹1685 cr17.0%17.0%0.4x
2024-0431.9x₹1685 cr17.0%17.0%0.4x
2024-0330.0x₹1685 cr17.0%17.0%0.4x
2024-0231.4x₹1685 cr17.0%17.0%0.4x
2024-0132.6x₹1685 cr17.0%17.0%0.4x
2023-1232.4x₹1685 cr17.0%17.0%0.4x
2023-1133.3x₹1685 cr17.0%17.0%0.4x
2023-1030.6x₹1685 cr17.0%17.0%0.4x
2023-0931.2x₹1685 cr17.0%17.0%0.4x
2023-0828.8x₹1685 cr17.0%17.0%0.4x
2023-0728.2x₹1685 cr17.0%17.0%0.4x
2023-0624.9x₹1685 cr17.0%17.0%0.4x
2023-0521.5x₹1347 cr21.3%25.0%0.0x
2023-0421.1x₹1347 cr21.3%25.0%0.0x
2023-0319.1x₹1347 cr21.3%25.0%0.0x
2023-0221.2x₹1347 cr21.3%25.0%0.0x
2023-0120.4x₹1347 cr21.3%25.0%0.0x
2022-1221.7x₹1347 cr21.3%25.0%0.0x
2022-1122.5x₹1347 cr21.3%25.0%0.0x
2022-1024.7x₹1347 cr21.3%25.0%0.0x
2022-0923.8x₹1347 cr21.3%25.0%0.0x
2022-0823.1x₹1347 cr21.3%25.0%0.0x
2022-0722.7x₹1347 cr21.3%25.0%0.0x
2022-0622.3x₹1347 cr21.3%25.0%0.0x
2022-0525.5x₹1212 cr22.5%27.0%0.0x
2022-0426.0x₹1212 cr22.5%27.0%0.0x
2022-0326.3x₹1212 cr22.5%27.0%0.0x
2022-0225.8x₹1212 cr22.5%27.0%0.0x
2022-0126.7x₹1212 cr22.5%27.0%0.0x
2021-1229.1x₹1212 cr22.5%27.0%0.0x

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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