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FOCUS LIGHTING FIXTURES LTD (FOCUS)

Producer Manufacturing

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.44 / 100
Profitability 35Growth 17Balance sheet 82
Compare withBHARAT HEAVY ELECTRICALS LTDABB INDIA LIMITEDCG POWER AND IND SOLUTIONS LTD
Share Price
₹50.96
P/E
59.3x
ROCE
6.0%
Market Cap
₹344 cr
Revenue (TTM)
₹195 cr
P/S
1.8x
P/B
2.4x
ROE
4.0%
Operating Margin
12.7%
Debt / Equity
0.1x
Promoter Holding
55.4%
12M Momentum
-41.0%
P/E vs its own history71st percentilesince Feb '19
P/E vs Producer Manufacturing2.1xthe sector median

52-week range

₹48.21₹97.00
6% of the way from its 52-week low to its high

Price risk

1Y volatility
45.2%
Beta vs sector
1-year daily
0.79

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.08x
Share count, 1Y
unchanged

Was the rally earned?

-41%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 28 points, while the multiple moved less (P/E 70.2x to 59.3x).
  • The share count barely moved.
1 year Net profit growth: -27 pts. Points of the price return explained by net profit growing (or shrinking).-27 ptsP/E change: -13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-13 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. -41% 1 year Net profit growth: -27 pts. Points of the price return explained by net profit growing (or shrinking).-27 ptsP/E change: -13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-13 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. -41%
Net profit growth-27 ptsNet profit fell about 30%, which lowers the price.
P/E change-13 ptsThe P/E fell from 70.2x to 59.3x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-71%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 81 points, while the multiple moved less (P/E 49.7x to 59.3x).
  • The share count rose 4%.
3 years Net profit growth: -79 pts. Points of the price return explained by net profit growing (or shrinking).-79 ptsP/E change: +10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+10 ptsShare count change: -2 pts. Points of the price return explained by the share count changing. More shares count against the price. -71% 3 years Net profit growth: -79 pts. Points of the price return explained by net profit growing (or shrinking).-79 ptsP/E change: +10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -2 pts. Points of the price return explained by the share count changing. More shares count against the price. -71%
Net profit growth-79 ptsNet profit fell about 75%, which lowers the price.
P/E change+10 ptsThe P/E rose from 49.7x to 59.3x, which lifts the price.
Share count change-2 ptsShare count rose 4%, 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.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

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

Compare this with BHARAT HEAVY ELECTRICALS

Is it expensive against its own past and its peers?

59.3xP/E todayWithin its usual range
Against its own history71st percentileMedian 41.1x; usual range 9.3x to 99.5x since 2019-02.
Against Producer Manufacturing59.3x vs 28.5xAbove the Producer Manufacturing median.
5.3x60.7x116.1x171.4xFeb '19Sep '20Apr '22Nov '23Jun '25Oct '265.3x60.7x116.1x171.4xFeb '19Sep '21Apr '24Oct '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; dashed 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

What is the price implying?

~15%annual earnings growth implied by the price

At a P/E of 19.7x, the price would imply about 15.1%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Producer Manufacturing The market-wide Expectations lists

What changed?

  1. Oct '26Fell 77% from the Jan 2024 peak to the Oct 2026 low.
  2. Sep '26Moved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  3. Jun '26Slipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  4. Mar '26Slipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  5. Sep '25P/E crossed above the 90th percentile of its own history to date (73.2x).
  6. Jun '25Year-on-year EPS growth turned negative.
  7. Jun '25Slipped to the 3rd quartile of Producer Manufacturing on ROCE (from the top quartile).
  8. Mar '25Slipped to the bottom quartile of Producer Manufacturing on operating margin (from the top quartile).
Show 21 earlier events
  1. Dec '24Slipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
  2. Jun '24Revenue (TTM) reached a new high of ₹224 cr.
  3. Jun '24Dividend payout cut from 42% to 0% of profit.
  4. Jul '23Regained the 2023-04 peak, 2 months after the low.
  5. Jun '23Year-on-year EPS growth turned positive.
  6. Jun '23Moved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  7. Jun '23Share count is up 30.0% over 12 months.
  8. May '23Fell 36% from the Apr 2023 peak to the May 2023 low.
  9. Jan '23P/E crossed above the 90th percentile of its own history to date (70.9x).
  10. Oct '22Regained the 2019-03 peak, 30 months after the low.
  11. Jun '22EPS (TTM) turned positive.
  12. Jun '22Moved into the 2nd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  13. Jun '22Started paying a dividend (payout 11% of profit).
  14. Jun '21EPS (TTM) turned negative.
  15. Jun '21Slipped to the bottom quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  16. Jun '20Year-on-year EPS growth turned negative.
  17. Jun '20Slipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  18. Jun '20Dividend payout cut from 3% to 0% of profit.
  19. Jun '20Share count is up 200.0% over 12 months.
  20. Apr '20Fell 91% from the Mar 2019 peak to the Apr 2020 low.
  21. Jun '19Started paying a dividend (payout 3% of profit).

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

Are profits backed by cash?

5 of 7 checks are within range, 1 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance39%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 38.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.7%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.08xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.08x (cash from operations ₹64 cr, net profit ₹59 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 daysWithin range

Debtor days are below the median of the previous three fiscal years by 27 days (112 vs 139). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress84% of fixed assetsWithin range

Capital work-in-progress is 84% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+2 days / 2 yrsWithin range

Days payable changed by +2 over two years. Bands: rise of up to 30 days; more than 30 days.

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, promoters trimmed 0.7 pts.
  • The number of shareholders rose from 15,283 to 20,510 (+34%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters56.1%55.4%-0.7 pts
FIIs0.0%0.0%0.0 pts
DIIs———
Public and others42.7%44.4%+1.7 pts

Number of shareholders

20,510shareholders+34% since Dec '23
15k20k24k29k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 15,283
Mar '24: 16,249
Jun '24: 18,253
Sep '24: 28,712
Dec '24: 25,179
Mar '25: 25,162
Jun '25: 24,416
Sep '25: 23,721
Dec '25: 22,956
Mar '26: 21,909
Jun '26: 20,510
 15k20k24k29k Dec '23Dec '24Dec '25Jun '26
Dec '23: 15,283
Mar '24: 16,249
Jun '24: 18,253
Sep '24: 28,712
Dec '24: 25,179
Mar '25: 25,162
Jun '25: 24,416
Sep '25: 23,721
Dec '25: 22,956
Mar '26: 21,909
Jun '26: 20,510

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

How rough has the ride been?

Maximum drawdown-91.3%recovered 2022-10
1-year volatility45.2%annualised

Monthly share price

₹3₹67₹131₹195 Feb '19Sep '20Apr '22Nov '23Jun '25Oct '26
2019-02: ₹32.75
2019-03: ₹34.15
2019-04: ₹26.40
2019-05: ₹34.70
2019-06: ₹30.70
2019-07: ₹10.05
2019-08: ₹9.70
2019-09: ₹10.00
2019-10: ₹9.95
2019-11: ₹7.50
2019-12: ₹6.50
2020-01: ₹6.80
2020-02: ₹6.55
2020-03: ₹4.10
2020-04: ₹3.30
2020-05: ₹3.15
2020-06: ₹3.80
2020-07: ₹4.30
2020-08: ₹4.15
2020-09: ₹4.00
2020-10: ₹3.80
2020-11: ₹3.80
2020-12: ₹4.35
2021-01: ₹4.80
2021-02: ₹4.60
2021-03: ₹4.80
2021-04: ₹4.30
2021-05: ₹4.50
2021-06: ₹7.35
2021-07: ₹8.55
2021-08: ₹12.25
2021-09: ₹12.65
2021-10: ₹9.60
2021-11: ₹15.60
2021-12: ₹17.00
2022-01: ₹15.85
2022-02: ₹20.55
2022-03: ₹17.40
2022-04: ₹17.40
2022-05: ₹18.40
2022-06: ₹21.45
2022-07: ₹21.90
2022-08: ₹28.80
2022-09: ₹30.95
2022-10: ₹43.80
2022-11: ₹61.10
2022-12: ₹64.10
2023-01: ₹63.85
2023-02: ₹86.10
2023-03: ₹102.25
2023-04: ₹154.30
2023-05: ₹108.30
2023-06: ₹116.95
2023-07: ₹155.30
2023-08: ₹153.85
2023-09: ₹167.45
2023-10: ₹175.85
2023-11: ₹184.70
2023-12: ₹176.85
2024-01: ₹194.65
2024-02: ₹164.65
2024-03: ₹143.85
2024-04: ₹169.25
2024-05: ₹153.30
2024-06: ₹150.21
2024-07: ₹116.45
2024-08: ₹111.26
2024-09: ₹123.19
2024-10: ₹120.00
2024-11: ₹117.90
2024-12: ₹130.23
2025-01: ₹100.93
2025-02: ₹76.53
2025-03: ₹77.76
2025-04: ₹96.29
2025-05: ₹93.05
2025-06: ₹105.48
2025-07: ₹112.15
2025-08: ₹94.91
2025-09: ₹90.03
2025-10: ₹86.37
2025-11: ₹74.44
2025-12: ₹73.95
2026-01: ₹68.38
2026-02: ₹65.32
2026-03: ₹58.15
2026-04: ₹79.43
2026-05: ₹82.80
2026-06: ₹89.63
2026-07: ₹70.21
2026-08: ₹65.74
2026-09: ₹56.52
2026-10: ₹50.96
 ₹3₹67₹131₹195 Feb '19Sep '21Apr '24Oct '26
2019-02: ₹32.75
2019-03: ₹34.15
2019-04: ₹26.40
2019-05: ₹34.70
2019-06: ₹30.70
2019-07: ₹10.05
2019-08: ₹9.70
2019-09: ₹10.00
2019-10: ₹9.95
2019-11: ₹7.50
2019-12: ₹6.50
2020-01: ₹6.80
2020-02: ₹6.55
2020-03: ₹4.10
2020-04: ₹3.30
2020-05: ₹3.15
2020-06: ₹3.80
2020-07: ₹4.30
2020-08: ₹4.15
2020-09: ₹4.00
2020-10: ₹3.80
2020-11: ₹3.80
2020-12: ₹4.35
2021-01: ₹4.80
2021-02: ₹4.60
2021-03: ₹4.80
2021-04: ₹4.30
2021-05: ₹4.50
2021-06: ₹7.35
2021-07: ₹8.55
2021-08: ₹12.25
2021-09: ₹12.65
2021-10: ₹9.60
2021-11: ₹15.60
2021-12: ₹17.00
2022-01: ₹15.85
2022-02: ₹20.55
2022-03: ₹17.40
2022-04: ₹17.40
2022-05: ₹18.40
2022-06: ₹21.45
2022-07: ₹21.90
2022-08: ₹28.80
2022-09: ₹30.95
2022-10: ₹43.80
2022-11: ₹61.10
2022-12: ₹64.10
2023-01: ₹63.85
2023-02: ₹86.10
2023-03: ₹102.25
2023-04: ₹154.30
2023-05: ₹108.30
2023-06: ₹116.95
2023-07: ₹155.30
2023-08: ₹153.85
2023-09: ₹167.45
2023-10: ₹175.85
2023-11: ₹184.70
2023-12: ₹176.85
2024-01: ₹194.65
2024-02: ₹164.65
2024-03: ₹143.85
2024-04: ₹169.25
2024-05: ₹153.30
2024-06: ₹150.21
2024-07: ₹116.45
2024-08: ₹111.26
2024-09: ₹123.19
2024-10: ₹120.00
2024-11: ₹117.90
2024-12: ₹130.23
2025-01: ₹100.93
2025-02: ₹76.53
2025-03: ₹77.76
2025-04: ₹96.29
2025-05: ₹93.05
2025-06: ₹105.48
2025-07: ₹112.15
2025-08: ₹94.91
2025-09: ₹90.03
2025-10: ₹86.37
2025-11: ₹74.44
2025-12: ₹73.95
2026-01: ₹68.38
2026-02: ₹65.32
2026-03: ₹58.15
2026-04: ₹79.43
2026-05: ₹82.80
2026-06: ₹89.63
2026-07: ₹70.21
2026-08: ₹65.74
2026-09: ₹56.52
2026-10: ₹50.96

Last 90 trading days

₹50₹64₹77₹91 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹90.96
2026-06-25: ₹88.70
2026-06-30: ₹89.63
2026-07-02: ₹83.04
2026-07-06: ₹83.30
2026-07-08: ₹82.79
2026-07-10: ₹81.48
2026-07-14: ₹80.44
2026-07-16: ₹77.96
2026-07-20: ₹75.27
2026-07-22: ₹73.48
2026-07-24: ₹72.23
2026-07-28: ₹70.52
2026-07-30: ₹70.37
2026-08-03: ₹70.44
2026-08-05: ₹67.01
2026-08-07: ₹67.08
2026-08-11: ₹67.69
2026-08-13: ₹67.58
2026-08-17: ₹68.93
2026-08-19: ₹67.63
2026-08-21: ₹70.00
2026-08-25: ₹67.65
2026-08-27: ₹66.72
2026-08-31: ₹65.74
2026-09-02: ₹64.53
2026-09-04: ₹63.37
2026-09-08: ₹61.59
2026-09-10: ₹61.97
2026-09-15: ₹60.87
2026-09-17: ₹59.31
2026-09-21: ₹59.83
2026-09-23: ₹60.10
2026-09-25: ₹59.44
2026-09-29: ₹57.07
2026-10-01: ₹54.30
2026-10-06: ₹55.95
2026-10-08: ₹54.96
2026-10-12: ₹53.83
2026-10-14: ₹58.37
2026-10-16: ₹55.91
2026-10-21: ₹52.31
2026-10-23: ₹49.85
2026-10-27: ₹52.86
2026-10-29: ₹52.80
2026-10-30: ₹50.96
 ₹50₹64₹77₹91 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹90.96
2026-06-25: ₹88.70
2026-06-30: ₹89.63
2026-07-02: ₹83.04
2026-07-06: ₹83.30
2026-07-08: ₹82.79
2026-07-10: ₹81.48
2026-07-14: ₹80.44
2026-07-16: ₹77.96
2026-07-20: ₹75.27
2026-07-22: ₹73.48
2026-07-24: ₹72.23
2026-07-28: ₹70.52
2026-07-30: ₹70.37
2026-08-03: ₹70.44
2026-08-05: ₹67.01
2026-08-07: ₹67.08
2026-08-11: ₹67.69
2026-08-13: ₹67.58
2026-08-17: ₹68.93
2026-08-19: ₹67.63
2026-08-21: ₹70.00
2026-08-25: ₹67.65
2026-08-27: ₹66.72
2026-08-31: ₹65.74
2026-09-02: ₹64.53
2026-09-04: ₹63.37
2026-09-08: ₹61.59
2026-09-10: ₹61.97
2026-09-15: ₹60.87
2026-09-17: ₹59.31
2026-09-21: ₹59.83
2026-09-23: ₹60.10
2026-09-25: ₹59.44
2026-09-29: ₹57.07
2026-10-01: ₹54.30
2026-10-06: ₹55.95
2026-10-08: ₹54.96
2026-10-12: ₹53.83
2026-10-14: ₹58.37
2026-10-16: ₹55.91
2026-10-21: ₹52.31
2026-10-23: ₹49.85
2026-10-27: ₹52.86
2026-10-29: ₹52.80
2026-10-30: ₹50.96

Drawdown from peak

0% -46% -91% Feb '19Dec '22Oct '26 0% -46% -91% Feb '19Dec '22Oct '26
Largest drawdowns

-91.3% (2019-03 peak to 2020-04 low, recovered 2022-10)

-76.8% (2024-01 peak to 2026-10 low, not yet recovered)

-35.8% (2023-04 peak to 2023-05 low, recovered 2023-07)

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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 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 FOCUS LIGHTING FIXTURES 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 −14% to +27% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (+4.9%, 80% range −5.6% to +11.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
OAL · Jun 2022: −49.6% vs market
ENIL · May 2025: −28.7% vs market
AHLEAST · Jan 2020: −26.9% vs market
PLAZACABLE · Jun 2025: −24.9% vs market
LXCHEM · Jun 2025: −21.5% vs market
DOLLAR · Aug 2023: −20.5% vs market
SHILPAMED · Sep 2022: −20.2% vs market
ATULAUTO · Nov 2024: −19.7% vs market
ALANKIT · Aug 2022: −19.6% vs market
SHIVALIK · Jun 2024: −16.3% vs market
DREDGECORP · Jan 2021: −15.6% vs market
REPRO · Jul 2024: −14.9% vs market
WIPL · Jul 2020: −14.1% vs market
HARDWYN · Oct 2025: −13.8% vs market
LOVABLE · Dec 2022: −13.7% vs market
PPAP · Mar 2022: −13.0% vs market
VIPCLOTHNG · Dec 2023: −12.8% vs market
SHALBY · May 2025: −11.9% vs market
KAKATCEM · Dec 2021: −9.1% vs market
UNIDT · Jul 2024: −8.2% vs market
DMCC · Jan 2024: −6.0% vs market
IKIO · Jul 2025: −5.1% vs market
UNICHEMLAB · Aug 2021: −2.0% vs market
HGM · Feb 2021: +1.0% vs market
DIAMONDYD · Apr 2021: +2.7% vs market
EXXARO · Aug 2022: +3.7% vs market
TASTYBITE · Sep 2025: +6.6% vs market
AERONEU · May 2024: +10.0% vs market
NOVARTIND · May 2022: +10.5% vs market
ORIENTCER · Jun 2025: +10.9% vs market
BLISSGVS · Jul 2022: +12.5% vs market
SOTL · Dec 2020: +12.6% vs market
APOLLOPIPE · Jun 2025: +14.0% vs market
SAKAR · Aug 2024: +16.9% vs market
NILKAMAL · Jul 2022: +21.6% vs market
YUKEN · Jan 2024: +23.5% vs market
SUBROS · Nov 2022: +26.4% vs market
PILITA · Mar 2023: +27.5% vs market
TTKHLTCARE · Mar 2021: +35.9% vs market
NELCAST · Apr 2022: +52.4% vs market
JTEKTINDIA · Jun 2022: +54.2% vs market
RISHABH · May 2025: +74.8% vs market
STYRENIX · Oct 2020: +78.7% vs market
SAGCEM · May 2020: +82.2% vs market
ASHIANA · May 2020: +84.2% vs market
APTECHT · Oct 2020: +85.7% vs market
KILITCH · Jan 2023: +107.5% vs market
CYIENTDLM · Sep 2025: +116.0% vs market
RAMCOSYS · Feb 2020: +225.8% vs market
NEULANDLAB · Feb 2020: +260.6% vs market
Similar setups +3.2%All companies −1.7%← 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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
+3.2%
All companies' median
−1.7%
Beat the market
54% vs 48%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PILITA
Producer Manufacturing		 Mar 2023 56x5% −30%−41% +28%
RAMCOSYS
Technology Services		 Feb 2020 25x8% −45%−51% +226%
REPRO
Commercial Services		 Jul 2024 79x6% −10%−28% −15%
ASHIANA
Finance		 May 2020 33x4% −63%−66% +84%
TTKHLTCARE
Health Technology		 Mar 2021 57x8% +56%−21% +36%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DIAMONDYD
Consumer Non-Durables		 Apr 2021 48x7% +14%−26% +3%
STYRENIX
Process Industries		 Oct 2020 49x— −22%−41% +79%
SHIVALIK
Process Industries		 Jun 2024 77x6% −20%−28% −16%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to FOCUS LIGHTING FIXTURES 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (93 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1059.3x₹195 cr4.0%6.0%0.1x
2026-0965.7x₹195 cr4.0%6.0%0.1x
2026-0887.7x₹188 cr3.5%6.0%0.1x
2026-0793.6x₹188 cr3.5%6.0%0.1x
2026-06119.5x₹188 cr3.5%6.0%0.1x
2026-05153.3x₹169 cr2.6%14.0%0.1x
2026-04147.1x₹169 cr2.6%14.0%0.1x
2026-03107.7x₹169 cr2.6%14.0%0.1x
2026-0287.1x₹173 cr3.6%14.0%0.1x
2026-0191.2x₹173 cr3.6%14.0%0.1x
2025-1298.6x₹173 cr3.6%14.0%0.1x
2025-1160.5x₹170 cr5.9%14.0%0.1x
2025-1070.2x₹170 cr5.9%14.0%0.1x
2025-0973.2x₹170 cr5.9%14.0%0.1x
2025-0841.6x₹183 cr10.8%14.0%0.1x
2025-0749.2x₹183 cr10.8%14.0%0.1x
2025-0646.3x₹183 cr10.8%14.0%0.1x
2025-0525.0x₹201 cr19.0%39.0%0.1x
2025-0425.9x₹201 cr19.0%39.0%0.1x
2025-0320.9x₹201 cr19.0%39.0%0.1x
2025-0214.8x₹217 cr26.6%39.0%0.1x
2025-0119.5x₹217 cr26.6%39.0%0.1x
2024-1225.1x₹217 cr26.6%39.0%0.1x
2024-1119.9x₹227 cr30.3%39.0%0.1x
2024-1020.2x₹227 cr30.3%39.0%0.1x
2024-0920.8x₹227 cr30.3%39.0%0.1x
2024-0818.7x₹224 cr30.2%39.0%0.1x
2024-0719.6x₹224 cr30.2%39.0%0.1x
2024-0625.2x₹224 cr30.2%39.0%0.1x
2024-0543.3x₹169 cr25.6%46.0%0.0x
2024-0447.8x₹169 cr25.6%46.0%0.0x
2024-0340.6x₹169 cr25.6%46.0%0.0x
2024-0246.5x₹169 cr25.6%46.0%0.0x
2024-0155.0x₹169 cr25.6%46.0%0.0x
2023-1250.0x₹169 cr25.6%46.0%0.0x
2023-1152.2x₹169 cr25.6%46.0%0.0x
2023-1049.7x₹169 cr25.6%46.0%0.0x
2023-0947.3x₹169 cr25.6%46.0%0.0x
2023-0843.5x₹169 cr25.6%46.0%0.0x
2023-0743.9x₹169 cr25.6%46.0%0.0x
2023-0633.0x₹169 cr25.6%46.0%0.0x
2023-05120.3x₹105 cr14.3%18.0%0.1x
2023-04171.4x₹105 cr14.3%18.0%0.1x
2023-03113.6x₹105 cr14.3%18.0%0.1x
2023-0295.7x₹105 cr14.3%18.0%0.1x
2023-0170.9x₹105 cr14.3%18.0%0.1x
2022-1271.2x₹105 cr14.3%18.0%0.1x
2022-1167.9x₹105 cr14.3%18.0%0.1x
2022-1048.7x₹105 cr14.3%18.0%0.1x
2022-0934.4x₹105 cr14.3%18.0%0.1x
2022-0832.0x₹105 cr14.3%18.0%0.1x
2022-0724.3x₹105 cr14.3%18.0%0.1x
2022-0623.8x₹105 cr14.3%18.0%0.1x
2022-05—₹60 cr-7.7%-4.0%0.2x
2022-04—₹60 cr-7.7%-4.0%0.2x
2022-03—₹60 cr-7.7%-4.0%0.2x
2022-02—₹60 cr-7.7%-4.0%0.2x
2022-01—₹60 cr-7.7%-4.0%0.2x
2021-12—₹60 cr-7.7%-4.0%0.2x
2021-11—₹60 cr-7.7%-4.0%0.2x
2021-10—₹60 cr-7.7%-4.0%0.2x
2021-09—₹60 cr-7.7%-4.0%0.2x
2021-08—₹60 cr-7.7%-4.0%0.2x
2021-07—₹60 cr-7.7%-4.0%0.2x
2021-06—₹60 cr-7.7%-4.0%0.2x
2021-0510.0x₹99 cr7.1%13.0%0.1x
2021-049.6x₹99 cr7.1%13.0%0.1x
2021-0310.7x₹99 cr7.1%13.0%0.1x
2021-0210.2x₹99 cr7.1%13.0%0.1x
2021-0110.7x₹99 cr7.1%13.0%0.1x
2020-129.7x₹99 cr7.1%13.0%0.1x
2020-118.4x₹99 cr7.1%13.0%0.1x
2020-108.4x₹99 cr7.1%13.0%0.1x
2020-098.9x₹99 cr7.1%13.0%0.1x
2020-089.2x₹99 cr7.1%13.0%0.1x
2020-079.6x₹99 cr7.1%13.0%0.1x
2020-068.4x₹99 cr7.1%13.0%0.1x
2020-05—₹121 cr32.3%48.0%0.1x
2020-04—₹121 cr32.3%48.0%0.1x
2020-03—₹121 cr32.3%48.0%0.1x
2020-02—₹121 cr32.3%48.0%0.1x
2020-01—₹121 cr32.3%48.0%0.1x
2019-12—₹121 cr32.3%48.0%0.1x
2019-11—₹121 cr32.3%48.0%0.1x
2019-10—₹121 cr32.3%48.0%0.1x
2019-09—₹121 cr32.3%48.0%0.1x
2019-08—₹121 cr32.3%48.0%0.1x
2019-07—₹121 cr32.3%48.0%0.1x
2019-065.3x₹121 cr32.3%48.0%0.1x
2019-059.8x₹92 cr28.6%57.0%0.1x
2019-047.5x₹92 cr28.6%57.0%0.1x
2019-039.7x₹92 cr28.6%57.0%0.1x
2019-029.3x₹92 cr28.6%57.0%0.1x

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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