52-week range
Price risk
Balance sheet & cash
Was the rally earned?
Mostly earnings.
- Per-share earnings took off 40 points, while the multiple moved less (P/E 14.1x to 12.4x).
- The share count barely moved.
Mostly earnings.
- Per-share earnings took off 55 points, while the multiple moved less (P/E 18.6x to 12.4x).
- The share count rose 46%.
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.
Is it expensive against its own past and its peers?
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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.
What is the price implying?
At a P/E of 9.0x, the price would imply about 6.0%/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 Consumer Non-Durables The market-wide Expectations lists
What changed?
- Oct '26Fell 81% from the Oct 2023 peak to the Oct 2026 low.
- Oct '26P/E fell below the 10th percentile of its own history to date (12.4x).
- Jun '26Year-on-year EPS growth turned negative.
- Jun '26Slipped to the bottom quartile of Consumer Non-Durables on EPS growth (from the 2nd quartile).
- May '26P/E fell below the 10th percentile of its own history to date (13.1x).
- Apr '26Moved into the 2nd quartile of Consumer Non-Durables on operating margin (from the 3rd quartile).
- Jan '26P/E fell below the 10th percentile of its own history to date (13.8x).
- Sep '25Year-on-year EPS growth turned positive.
Show 21 earlier events
- Sep '25Slipped to the 3rd quartile of Consumer Non-Durables on operating margin (from the 2nd quartile).
- Aug '25P/E fell below the 10th percentile of its own history to date (15.1x).
- Jul '25Share count is up 16.7% over 12 months.
- Jun '25Moved into the 2nd quartile of Consumer Non-Durables on operating margin (from the 3rd quartile).
- Jun '25Debt / equity fell below 1.0x (0.82x).
- Mar '25Slipped to the 3rd quartile of Consumer Non-Durables on ROCE (from the 2nd quartile).
- Dec '24Promoter holding rose 9.5 pts to 25.5%.
- Dec '24Moved into the 2nd quartile of Consumer Non-Durables on operating margin (from the 3rd quartile).
- Sep '24Promoter holding fell 4.6 pts to 16.0% (largest drop since 2024-06).
- Sep '24Slipped to the bottom quartile of Consumer Non-Durables on EPS growth (from the 3rd quartile).
- Jun '24Promoter holding fell 7.1 pts to 20.6%.
- Jun '24Year-on-year EPS growth turned negative.
- Jun '24Slipped to the 3rd quartile of Consumer Non-Durables on EPS growth (from the top quartile).
- Jun '24Share count is up 20.0% over 12 months.
- Nov '23P/E fell below the 10th percentile of its own history to date (18.2x).
- Jun '23Revenue (TTM) reached a new high of ₹999 cr.
- Jun '23Moved into the 2nd quartile of Consumer Non-Durables on ROCE (from the 3rd quartile).
- Nov '22Regained the 2022-01 peak, 4 months after the low.
- Jul '22Fell 53% from the Jan 2022 peak to the Jul 2022 low.
- Jun '22Debt / equity rose above 1.0x (1.13x).
- Jun '22Dividend payout cut from 26% to 8% 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?
4 of 7 checks are within range, 2 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.
Other income reliance34%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 34.1%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate32%Within range
Median quarterly effective tax rate over about 2.5 years: 31.6%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion1.17xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.17x (cash from operations ₹125 cr, net profit ₹107 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow1 of 5 yrsBeyond threshold
Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-2 daysWithin range
Debtor days are below the median of the previous three fiscal years by 2 days (61 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+120 days / 2 yrsNear threshold
Days payable changed by +120 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.
Who has been buying and selling?
- Over 2 years, promoters trimmed 2.3 pts; DIIs added 1.0 pts.
- The number of shareholders rose from 19,749 to 22,041 (+12%) between Dec 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-81.0% (2023-10 peak to 2026-10 low, not yet recovered)
-53.1% (2022-01 peak to 2022-07 low, recovered 2022-11)
-23.5% (2023-01 peak to 2023-03 low, recovered 2023-05)
Where does it rank among Consumer Non-Durables peers?
Each cell is the company's percentile rank among its Consumer Non-Durables 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).
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 Consumer Non-Durables sector page Watch it move against Consumer Non-Durables in the Observatory
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like FOODS & INNS 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 −26% to +35% vs the market, against −7% for all non-financial companies in the same months.
- The gap against the base rate (+5.1%, 80% range −11.9% to +8.3%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 32 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| DHAMPURSUG Process Industries |
Mar 2025 | 14x | 11% | −42% | −52% | +22% |
| BODALCHEM Process Industries |
Nov 2023 | 24x | 5% | −8% | −21% | −23% |
| MANGALAM Health Technology |
Aug 2025 | 18x | 8% | −42% | −46% | −60% |
| DBOL Process Industries |
Jul 2024 | 20x | 5% | −17% | −24% | −39% |
| SUTLEJTEX Process Industries |
Jul 2023 | 21x | 8% | −26% | −38% | 0% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| HPL Electronic Technology |
Oct 2020 | 9x | 7% | −32% | −39% | +43% |
| PCJEWELLER Consumer Durables |
Feb 2022 | 16x | 6% | −32% | −35% | +36% |
| BALAJEE Process Industries |
Sep 2025 | 16x | 13% | −43% | −44% | −46% |
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, ROCE and P/S. 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.
Monthly history (60 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 12.4x | ₹789 cr | 4.3% | 9.0% | 0.8x |
| 2026-09 | 15.3x | ₹789 cr | 4.3% | 9.0% | 0.8x |
| 2026-08 | 14.6x | ₹868 cr | 4.9% | 9.0% | 0.8x |
| 2026-07 | 14.5x | ₹868 cr | 4.9% | 9.0% | 0.8x |
| 2026-06 | 14.4x | ₹868 cr | 4.9% | 9.0% | 0.8x |
| 2026-05 | 13.1x | ₹976 cr | 5.8% | 12.0% | 0.8x |
| 2026-04 | 15.0x | ₹976 cr | 5.8% | 12.0% | 0.8x |
| 2026-03 | 10.7x | ₹976 cr | 5.8% | 12.0% | 0.8x |
| 2026-02 | 13.4x | ₹1015 cr | 5.9% | 12.0% | 0.8x |
| 2026-01 | 13.8x | ₹1015 cr | 5.9% | 12.0% | 0.8x |
| 2025-12 | 16.0x | ₹1015 cr | 5.9% | 12.0% | 0.8x |
| 2025-11 | 13.1x | ₹992 cr | 7.9% | 12.0% | 0.8x |
| 2025-10 | 14.1x | ₹992 cr | 7.9% | 12.0% | 0.8x |
| 2025-09 | 15.0x | ₹992 cr | 7.9% | 12.0% | 0.8x |
| 2025-08 | 15.1x | ₹1003 cr | 7.8% | 12.0% | 0.8x |
| 2025-07 | 18.6x | ₹1003 cr | 7.8% | 12.0% | 0.8x |
| 2025-06 | 19.9x | ₹1003 cr | 7.8% | 12.0% | 0.8x |
| 2025-05 | 27.7x | ₹951 cr | 6.1% | 15.0% | 1.2x |
| 2025-04 | 25.0x | ₹951 cr | 6.1% | 15.0% | 1.2x |
| 2025-03 | 23.1x | ₹951 cr | 6.1% | 15.0% | 1.2x |
| 2025-02 | 21.1x | ₹911 cr | 6.8% | 15.0% | 1.2x |
| 2025-01 | 26.9x | ₹911 cr | 6.8% | 15.0% | 1.2x |
| 2024-12 | 27.9x | ₹911 cr | 6.8% | 15.0% | 1.2x |
| 2024-11 | 22.8x | ₹979 cr | 7.4% | 15.0% | 1.2x |
| 2024-10 | 25.6x | ₹979 cr | 7.4% | 15.0% | 1.2x |
| 2024-09 | 26.7x | ₹979 cr | 7.4% | 15.0% | 1.2x |
| 2024-08 | 19.7x | ₹1020 cr | 9.2% | 15.0% | 1.2x |
| 2024-07 | 23.8x | ₹1020 cr | 9.2% | 15.0% | 1.2x |
| 2024-06 | 21.6x | ₹1020 cr | 9.2% | 15.0% | 1.2x |
| 2024-05 | 15.5x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2024-04 | 16.9x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2024-03 | 14.0x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2024-02 | 15.4x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2024-01 | 16.4x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-12 | 17.2x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-11 | 18.2x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-10 | 18.6x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-09 | 21.2x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-08 | 19.5x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-07 | 19.2x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-06 | 19.7x | ₹999 cr | 15.1% | 17.0% | 1.1x |
| 2023-05 | 53.6x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2023-04 | 45.6x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2023-03 | 39.0x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2023-02 | 42.2x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2023-01 | 45.3x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-12 | 38.9x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-11 | 44.3x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-10 | 29.8x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-09 | 31.2x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-08 | 25.6x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-07 | 21.3x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-06 | 22.6x | ₹632 cr | 7.6% | 12.0% | 1.1x |
| 2022-05 | 99.4x | ₹371 cr | 2.3% | 7.0% | 0.9x |
| 2022-04 | 103.9x | ₹371 cr | 2.3% | 7.0% | 0.9x |
| 2022-03 | 107.3x | ₹371 cr | 2.3% | 7.0% | 0.9x |
| 2022-02 | 113.0x | ₹371 cr | 2.3% | 7.0% | 0.9x |
| 2022-01 | 132.4x | ₹371 cr | 2.3% | 7.0% | 0.9x |
| 2021-12 | 112.9x | ₹371 cr | 2.3% | 7.0% | 0.9x |
| 2021-11 | 111.5x | ₹371 cr | 2.3% | 7.0% | 0.9x |