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FINOLEX INDUSTRIES LTD (FINPIPE)

Producer Manufacturing · Miscellaneous Manufacturing · 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.63 / 100
Profitability 44Growth 45Balance sheet 100
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.54 / 100
Price 38Earnings 79FII/DII 43

Passes these screensValue Pick

Compare withSUPREME INDUSTRIESASTRALGARDEN REACH SHIPBUILD ENG

Share price

Closing priceAdjusted for splits and bonus issues.

₹144.66 latest close · −17.2% over the last 90 sessions

₹140₹160Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹140₹160Jul 3Sep 4Nov 9

₹144.66 month-end · −19.1% over 12 months

₹140₹160₹180Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹140₹160₹180Nov '25May '26Nov '26

₹144.66 month-end · −29.9% over 3 years

₹200₹300Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹300Nov '23May '25Nov '26

₹144.66 month-end · +40.8% since Jan '19

₹100₹200₹300Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹100₹200₹300Jan '19Dec '22Nov '26

52-week range ₹137.00 to ₹200.40 · 1-year volatility 28.1%

Was the rally earned?

-19%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 39 points, but investors now pay less per rupee of profit (P/E 27.9x to 14.6x), which took 58 points back.
  • The share count barely moved.
Net profit growth: +39 pts. Points of the price return explained by net profit growing (or shrinking).+39 ptsNet profit growthP/E change: −58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−58 ptsP/E changeShare price: −19%−19%Share priceNet profit growth: +39 pts. Points of the price return explained by net profit growing (or shrinking).+39ProfitP/E change: −58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−58P/EShare price: −19%−19%Share price
Net profit growth+39 ptsNet profit rose about 55%, which lifts the price.
P/E change-58 ptsThe P/E fell from 27.9x to 14.6x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-30%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 76 points, but investors now pay less per rupee of profit (P/E 51.1x to 14.6x), which took 105 points back.
  • The share count barely moved.
Net profit growth: +76 pts. Points of the price return explained by net profit growing (or shrinking).+76 ptsNet profit growthP/E change: −105 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−105 ptsP/E changeShare price: −30%−30%Share priceNet profit growth: +76 pts. Points of the price return explained by net profit growing (or shrinking).+76ProfitP/E change: −105 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−105P/EShare price: −30%−30%Share price
Net profit growth+76 ptsNet profit rose about 146%, which lifts the price.
P/E change-105 ptsThe P/E fell from 51.1x to 14.6x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-32%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings took off 15 points and the multiple took off 17 points (P/E 17.8x to 14.6x).
  • The share count barely moved.
Net profit growth: −15 pts. Points of the price return explained by net profit growing (or shrinking).−15 ptsNet profit growthP/E change: −17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−17 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: −32%−32%Share priceNet profit growth: −15 pts. Points of the price return explained by net profit growing (or shrinking).−15ProfitP/E change: −17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−17P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −32%−32%Share price
Net profit growth-15 ptsNet profit fell about 17%, which lowers the price.
P/E change-17 ptsThe P/E fell from 17.8x to 14.6x, 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 SUPREME INDUSTRIES

How rough has the ride been?

Maximum drawdown-60.8%not yet recovered
1-year volatility28.1%annualised
Beta vs sector index0.853-year daily, correlation 0.50
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−60.8% 0%−20%−40%−60%2020202220242026−60.8%
Largest drawdowns

-60.8% (2024-06 peak to 2026-10 low, not yet recovered)

-50.9% (2019-10 peak to 2020-03 low, recovered 2020-11)

-44.3% (2021-10 peak to 2022-06 low, recovered 2023-08)

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?

14.6xP/E todayWithin its usual range
Against its own history27th percentile
CheapestMedian 18.5xDearest

Usual range 10.3x to 48.7x since 2019-01.

Against Producer Manufacturing14.6x vs 29.6x
This company
14.6x
Sector median
29.6x

51% below the Producer Manufacturing median.

7.8x30.9x54.0x77.1xJan '19Aug '20Mar '22Oct '23May '25Nov '267.8x30.9x54.0x77.1xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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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

  • ROCE36th▲ 13 pts vs a year ago
  • Op. margin53rd▲ 20 pts vs a year ago
  • Revenue growth13thflat vs a year ago
  • EPS growth80th▲ 66 pts vs a year ago
  • Debt/equity ↓74th▼ 6 pts vs a year ago
  • Cash cycle ↓41st▼ 24 pts vs a year ago
  • P/E ↓84th▲ 25 pts vs a year ago
  • 12M momentum31st▲ 7 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?

~9%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 14.1x, a holder earning 12%/yr needs earnings to grow about 9.2%/yr for 10 years, then trade at 15x.

Delivered8.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+0.3 ptsimplied minus delivered
Rank520thmost demanding of 856

Over time

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

0%12%23% Jan 2019Nov 2026 0%12%23% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x10.5%11.4%12.4%
15x8.3%9.2%10.2%
20x5.5%6.4%7.4%

Drag a slider to test other assumptions

Implied: 9.2%/yr

Looking back

  • Jan 2020Price implied 14%/yr; EPS has since grown 7%/yr (7.0 yrs)
  • Jan 2021Price implied 14%/yr; EPS has since grown 10%/yr (6.0 yrs)
  • Jan 2022Price implied 16%/yr; EPS has since grown −4%/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
₹144.66
P/E
14.6x
ROCE
12.0%
Market Cap
₹8986 cr
Revenue (TTM)
₹3955 cr
P/S
2.3x
P/B
1.4x
ROE
9.9%
Operating Margin
12.0%
Debt / Equity
0.1x
Promoter Holding
52.5%
12M Momentum
-19.1%

52-week range

₹137.00₹200.40
12% of the way from its 52-week low to its high

Price risk

1Y volatility
28.1%
Beta vs sector
1-year daily
0.81

Balance sheet & cash

Interest cover
operating profit ÷ interest
38.5x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.50x
low
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance32%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 31.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.50xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.50x (cash from operations ₹928 cr, net profit ₹1,873 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 below the median of the previous three fiscal years by 1 days (32 vs 33). 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+18 days / 2 yrsWithin range

Days payable changed by +18 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, FIIs trimmed 0.6 pts; DIIs trimmed 0.6 pts.
  • The number of shareholders rose from 2.3 lakh to 2.5 lakh (+8%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters52.5%52.5%0.0 pts
FIIs6.5%5.8%-0.6 pts
DIIs11.9%11.3%-0.6 pts
Public and others28.8%30.0%+1.2 pts

Number of shareholders

2.5 lakhshareholders+8% since Dec '23
2.1L2.2L2.4L2.5L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 2.3 lakh
Mar '24: 2.1 lakh
Jun '24: 2.1 lakh
Sep '24: 2.3 lakh
Dec '24: 2.4 lakh
Mar '25: 2.5 lakh
Jun '25: 2.5 lakh
Sep '25: 2.5 lakh
Dec '25: 2.5 lakh
Mar '26: 2.4 lakh
Jun '26: 2.5 lakh
 2.1L2.2L2.4L2.5L Dec '23Dec '24Dec '25Jun '26
Dec '23: 2.3 lakh
Mar '24: 2.1 lakh
Jun '24: 2.1 lakh
Sep '24: 2.3 lakh
Dec '24: 2.4 lakh
Mar '25: 2.5 lakh
Jun '25: 2.5 lakh
Sep '25: 2.5 lakh
Dec '25: 2.5 lakh
Mar '26: 2.4 lakh
Jun '26: 2.5 lakh

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−2.0%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 FINOLEX INDUSTRIES 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 −24% to +36% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (+2.7%, 80% range −4.1% to +11.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ZEEL · Mar 2023: −56.1% vs market
PRINCEPIPE · Jul 2024: −46.9% vs market
DELTACORP · Feb 2025: −43.9% vs market
WHIRLPOOL · Mar 2023: −37.5% vs market
DBCORP · Mar 2020: −37.2% vs market
KIRLOSENG · Feb 2021: −31.6% vs market
GREENPANEL · Nov 2024: −30.9% vs market
GALAXYSURF · Jan 2025: −28.4% vs market
TTKHLTCARE · Jun 2025: −28.4% vs market
TTKPRESTIG · Mar 2025: −25.9% vs market
TCIEXP · Oct 2025: −25.1% vs market
SHRIPISTON · Feb 2021: −24.7% vs market
ARE&M · Sep 2025: −24.2% vs market
KANSAINER · Jul 2025: −23.8% vs market
ACC · Oct 2024: −21.0% vs market
HEIDELBERG · Apr 2023: −21.0% vs market
BALMLAWRIE · Sep 2020: −20.6% vs market
NOCIL · Jan 2024: −19.9% vs market
JUBLINGREA · Aug 2023: −13.4% vs market
ESCORTS · Jun 2025: −12.1% vs market
EXCELINDUS · Jun 2020: −7.1% vs market
CIEINDIA · Sep 2025: −4.6% vs market
BHARATRAS · Sep 2024: −4.5% vs market
GUJALKALI · Jul 2020: −2.6% vs market
GMDCLTD · Mar 2020: −2.6% vs market
HARSHA · May 2025: −1.5% vs market
ADVENZYMES · Mar 2023: +1.1% vs market
RALLIS · Aug 2023: +1.6% vs market
KSCL · Nov 2022: +3.7% vs market
FDC · Jan 2023: +13.0% vs market
STARCEMENT · Nov 2024: +18.6% vs market
ZYDUSLIFE · Oct 2022: +20.6% vs market
VSTTILLERS · Jun 2025: +22.8% vs market
GAEL · Apr 2025: +23.4% vs market
HEROMOTOCO · Feb 2023: +27.8% vs market
EXIDEIND · May 2022: +32.1% vs market
APLLTD · Mar 2023: +33.5% vs market
VTL · Mar 2025: +36.2% vs market
GPPL · Aug 2022: +36.4% vs market
KRBL · Jul 2022: +38.8% vs market
AUROPHARMA · Mar 2023: +41.4% vs market
ZENSARTECH · Apr 2023: +49.1% vs market
GODFRYPHLP · Feb 2022: +75.3% vs market
UNIPARTS · Jun 2025: +75.9% vs market
GEOJITFSL · Sep 2023: +103.0% vs market
LINDEINDIA · Jan 2021: +121.7% vs market
CYIENT · Dec 2022: +122.6% vs market
GABRIEL · Nov 2024: +123.5% vs market
BDL · Dec 2021: +133.7% vs market
BAJAJCON · Jun 2025: +185.8% vs market
Similar setups −2.0%All companies −4.7%← 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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
−2.0%
All companies' median
−4.7%
Beat the market
48% vs 45%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BALMLAWRIE
Producer Manufacturing		 Sep 2020 10x11% −11%−26% −21%
KANSAINER
Process Industries		 Jul 2025 17x13% −20%−23% −24%
GALAXYSURF
Consumer Non-Durables		 Jan 2025 27x17% −13%−29% −28%
CIEINDIA
Producer Manufacturing		 Sep 2025 19x17% −28%−29% −5%
AUROPHARMA
Health Technology		 Mar 2023 12x13% −23%−27% +41%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GODFRYPHLP
Consumer Non-Durables		 Feb 2022 14x15% +14%−25% +75%
GREENPANEL
Non-Energy Minerals		 Nov 2024 30x13% +1%−21% −31%
KRBL
Process Industries		 Jul 2022 13x15% −11%−25% +39%
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 ROCE. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 FINOLEX INDUSTRIES 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.

KIRLOSKAR FERROUS INDUSTRIES LKIRLFER
Non-Energy Minerals
67%similar
operating marginROCE
ACCACC
Non-Energy Minerals
65%similar
ROCEEPS growth
VENKYS INDIAVENKEYS
Process Industries
59%similar
ROCErevenue
APOLLO TYRESAPOLLOTYRE
Consumer Durables
56%similar
operating marginvolatility
GAIL (INDIA)GAIL
Utilities
55%similar
promoter holdingvolatility
BALMER LAWRIE & COBALMLAWRIE
Producer Manufacturing
57%similar
operating marginvolatility
CIE AUTOMOTIVE INDIACIEINDIA
Producer Manufacturing
55%similar
debt/equityP/E
KCPKCP
Producer Manufacturing
50%similar
ROCEP/E

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

What changed?

30 events since Dec '22

  1. OctPriceFell 61% from the Jun 2024 peak to the Oct 2026 low.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
  4. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  5. MayPriceVolume reached 67.6x its 50-day median on 2026-05-27; price +7.7% that day.
  6. FebPriceVolume reached 25.1x its 50-day median on 2026-02-12; price +5.4% that day.
  7. DecPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  8. SepResultsYear-on-year EPS growth turned negative.
Show 22 earlier events
  1. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  2. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  3. MayPriceVolume reached 17.2x its 50-day median on 2025-05-26; price +7.0% that day.
  4. MarPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  5. MarPriceVolume reached 38.1x its 50-day median on 2025-03-24; price +6.5% that day.
  6. DecPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the top quartile).
  7. DecPriceVolume reached 88.5x its 50-day median on 2024-12-27; price +7.9% that day.
  8. AugPriceVolume reached 8.8x its 50-day median on 2024-08-29; price +5.3% that day.
  9. JunResultsYear-on-year EPS growth turned positive.
  10. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  11. MayPriceVolume reached 9.8x its 50-day median on 2024-05-15; price +1.2% that day.
  12. AprPriceRegained the 2023-09 peak, 5 months after the low.
  13. JanPriceVolume reached 14.9x its 50-day median on 2024-01-05; price +8.7% that day.
  14. DecPriceVolume reached 9.2x its 50-day median on 2023-12-07; price +4.1% that day.
  15. NovPriceFell 25% from the Sep 2023 peak to the Nov 2023 low.
  16. AugPriceRegained the 2021-10 peak, 14 months after the low.
  17. AugPriceVolume reached 15.4x its 50-day median on 2023-08-29; price +7.2% that day.
  18. JunResultsYear-on-year EPS growth turned negative.
  19. JunValuationP/E crossed above the 90th percentile of its own history to date (43.5x).
  20. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the top quartile).
  21. MayPriceVolume reached 18.5x its 50-day median on 2023-05-10; price +8.1% that day.
  22. DecPriceVolume reached 10.5x its 50-day median on 2022-12-05; price +6.7% 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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1114.6x₹3955 cr9.9%12.0%0.1x
2026-1013.8x₹3955 cr9.9%12.0%0.1x
2026-0915.3x₹3955 cr9.9%12.0%0.1x
2026-0816.3x₹4114 cr9.6%12.0%0.1x
2026-0716.8x₹4114 cr9.6%12.0%0.1x
2026-0618.1x₹4114 cr9.6%12.0%0.1x
2026-0523.0x₹3972 cr8.3%9.0%0.0x
2026-0421.4x₹3972 cr8.3%9.0%0.0x
2026-0318.5x₹3972 cr8.3%9.0%0.0x
2026-0223.9x₹4075 cr7.9%9.0%0.0x
2026-0122.8x₹4075 cr7.9%9.0%0.0x
2025-1222.5x₹4075 cr7.9%9.0%0.0x
2025-1127.9x₹4044 cr6.5%9.0%0.0x
2025-1029.3x₹4044 cr6.5%9.0%0.0x
2025-0931.2x₹4044 cr6.5%9.0%0.0x
2025-0816.4x₹4141 cr13.1%9.0%0.0x
2025-0716.0x₹4141 cr13.1%9.0%0.0x
2025-0616.9x₹4141 cr13.1%9.0%0.0x
2025-0516.9x₹4204 cr14.2%11.0%0.1x
2025-0413.5x₹4204 cr14.2%11.0%0.1x
2025-0313.9x₹4204 cr14.2%11.0%0.1x
2025-0213.2x₹4223 cr14.2%11.0%0.1x
2025-0115.9x₹4223 cr14.2%11.0%0.1x
2024-1219.5x₹4223 cr14.2%11.0%0.1x
2024-1119.4x₹4278 cr15.2%11.0%0.1x
2024-1021.9x₹4278 cr15.2%11.0%0.1x
2024-0920.1x₹4278 cr15.2%11.0%0.1x
2024-0840.9x₹4317 cr8.4%11.0%0.1x
2024-0741.7x₹4317 cr8.4%11.0%0.1x
2024-0642.7x₹4317 cr8.4%11.0%0.1x
2024-0577.1x₹4397 cr5.1%7.0%0.1x
2024-0466.0x₹4397 cr5.1%7.0%0.1x
2024-0361.0x₹4397 cr5.1%7.0%0.1x
2024-0254.0x₹4397 cr5.1%7.0%0.1x
2024-0155.0x₹4397 cr5.1%7.0%0.1x
2023-1252.2x₹4397 cr5.1%7.0%0.1x
2023-1151.1x₹4397 cr5.1%7.0%0.1x
2023-1047.5x₹4397 cr5.1%7.0%0.1x
2023-0955.4x₹4397 cr5.1%7.0%0.1x
2023-0859.3x₹4397 cr5.1%7.0%0.1x
2023-0749.4x₹4397 cr5.1%7.0%0.1x
2023-0643.5x₹4397 cr5.1%7.0%0.1x
2023-0510.5x₹4647 cr26.8%27.0%0.1x
2023-049.9x₹4647 cr26.8%27.0%0.1x
2023-0310.1x₹4647 cr26.8%27.0%0.1x
2023-0210.0x₹4647 cr26.8%27.0%0.1x
2023-0110.2x₹4647 cr26.8%27.0%0.1x
2022-1211.1x₹4647 cr26.8%27.0%0.1x
2022-119.3x₹4647 cr26.8%27.0%0.1x
2022-107.9x₹4647 cr26.8%27.0%0.1x
2022-098.1x₹4647 cr26.8%27.0%0.1x
2022-089.0x₹4647 cr26.8%27.0%0.1x
2022-077.8x₹4647 cr26.8%27.0%0.1x
2022-068.0x₹4647 cr26.8%27.0%0.1x
2022-0513.2x₹3462 cr23.5%36.0%0.1x
2022-0413.1x₹3462 cr23.5%36.0%0.1x
2022-0313.0x₹3462 cr23.5%36.0%0.1x
2022-0212.9x₹3462 cr23.5%36.0%0.1x
2022-0114.1x₹3462 cr23.5%36.0%0.1x
2021-1217.4x₹3462 cr23.5%36.0%0.1x
2021-1117.8x₹3462 cr23.5%36.0%0.1x
2021-1018.5x₹3462 cr23.5%36.0%0.1x
2021-0917.6x₹3462 cr23.5%36.0%0.1x
2021-0814.1x₹3462 cr23.5%36.0%0.1x
2021-0714.9x₹3462 cr23.5%36.0%0.1x
2021-0615.5x₹3462 cr23.5%36.0%0.1x
2021-0531.7x₹2985 cr16.8%17.0%0.1x
2021-0428.2x₹2985 cr16.8%17.0%0.1x
2021-0323.7x₹2985 cr16.8%17.0%0.1x
2021-0222.9x₹2985 cr16.8%17.0%0.1x
2021-0121.5x₹2985 cr16.8%17.0%0.1x
2020-1224.1x₹2985 cr16.8%17.0%0.1x
2020-1123.5x₹2985 cr16.8%17.0%0.1x
2020-1019.5x₹2985 cr16.8%17.0%0.1x
2020-0918.7x₹2985 cr16.8%17.0%0.1x
2020-0818.9x₹2985 cr16.8%17.0%0.1x
2020-0717.2x₹2985 cr16.8%17.0%0.1x
2020-0618.6x₹2985 cr16.8%17.0%0.1x
2020-0514.4x₹3091 cr14.2%21.0%0.0x
2020-0413.6x₹3091 cr14.2%21.0%0.0x
2020-0313.3x₹3091 cr14.2%21.0%0.0x
2020-0218.3x₹3091 cr14.2%21.0%0.0x
2020-0118.9x₹3091 cr14.2%21.0%0.0x
2019-1218.5x₹3091 cr14.2%21.0%0.0x
2019-1119.6x₹3091 cr14.2%21.0%0.0x
2019-1020.4x₹3091 cr14.2%21.0%0.0x
2019-0920.1x₹3091 cr14.2%21.0%0.0x
2019-0817.0x₹3091 cr14.2%21.0%0.0x
2019-0717.8x₹3091 cr14.2%21.0%0.0x
2019-0617.1x₹3091 cr14.2%21.0%0.0x
2019-0520.1x₹2738 cr10.9%17.0%0.0x
2019-0418.8x₹2738 cr10.9%17.0%0.0x
2019-0319.8x₹2738 cr10.9%17.0%0.0x
2019-0219.2x₹2738 cr10.9%17.0%0.0x
2019-0120.8x₹2738 cr10.9%17.0%0.0x

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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