अApnaFunda

FOODS & INNS LTD (FOODSIN)

Consumer Non-Durables

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.25 / 100
Profitability 41Growth 9Balance sheet 24

Passes these screens: Cash Rich · Value Pick

Share Price
₹41.33
P/E
12.4x
ROCE
9.0%
Market Cap
₹304 cr
Revenue (TTM)
₹789 cr
P/S
0.4x
P/B
0.5x
ROE
4.3%
Operating Margin
13.0%
Debt / Equity
0.8x
Promoter Holding
25.4%
12M Momentum
-49.3%
P/E vs its own history3rd percentilesince Nov '21
P/E vs Consumer Non-Durables0.5xthe sector median

52-week range

₹40.99₹87.90
1% of the way from its 52-week low to its high

Price risk

1Y volatility
47.4%
Beta vs sector
1-year daily
1.27

Balance sheet & cash

Interest cover
operating profit ÷ interest
1.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.17x
Share count, 1Y
unchanged

Was the rally earned?

-49%share price, 1 yearEarnings-driven

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.
1 year Net profit growth: -40 pts. Points of the price return explained by net profit growing (or shrinking).-40 ptsP/E change: -9 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-9 ptsShare count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. -49% 1 year Net profit growth: -40 pts. Points of the price return explained by net profit growing (or shrinking).-40 ptsP/E change: -9 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -0 pts. Points of the price return explained by the share count changing. More shares count against the price. -49%
Net profit growth-40 ptsNet profit fell about 42%, which lowers the price.
P/E change-9 ptsThe P/E fell from 14.1x to 12.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-76%share price, 3 yearsEarnings-driven

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%.
3 years Net profit growth: -35 pts. Points of the price return explained by net profit growing (or shrinking).-35 ptsP/E change: -21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-21 ptsShare count change: -20 pts. Points of the price return explained by the share count changing. More shares count against the price.-20 pts -76% 3 years Net profit growth: -35 pts. Points of the price return explained by net profit growing (or shrinking).-35 ptsP/E change: -21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-21 ptsShare count change: -20 pts. Points of the price return explained by the share count changing. More shares count against the price.-20 pts -76%
Net profit growth-35 ptsNet profit fell about 48%, which lowers the price.
P/E change-21 ptsThe P/E fell from 18.6x to 12.4x, which lowers the price.
Share count change-20 ptsShare count rose 46%, 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 BRITANNIA INDUSTRIES

Is it expensive against its own past and its peers?

12.4xP/E todayNear its historic low
Against its own history3rd percentileMedian 21.2x; usual range 14.0x to 99.8x since 2021-11.
Against Consumer Non-Durables12.4x vs 25.4xBelow the Consumer Non-Durables median.
10.7x51.2x91.8x132.4xNov '21Nov '22Nov '23Nov '24Nov '25Oct '2610.7x51.2x91.8x132.4xNov '21Jul '23Mar '25Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables median

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P/B (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables median

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P/S (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables 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 Consumer Non-Durables is valued

What is the price implying?

~6%annual earnings growth implied by the price

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?

  1. Oct '26Fell 81% from the Oct 2023 peak to the Oct 2026 low.
  2. Oct '26P/E fell below the 10th percentile of its own history to date (12.4x).
  3. Jun '26Year-on-year EPS growth turned negative.
  4. Jun '26Slipped to the bottom quartile of Consumer Non-Durables on EPS growth (from the 2nd quartile).
  5. May '26P/E fell below the 10th percentile of its own history to date (13.1x).
  6. Apr '26Moved into the 2nd quartile of Consumer Non-Durables on operating margin (from the 3rd quartile).
  7. Jan '26P/E fell below the 10th percentile of its own history to date (13.8x).
  8. Sep '25Year-on-year EPS growth turned positive.
Show 21 earlier events
  1. Sep '25Slipped to the 3rd quartile of Consumer Non-Durables on operating margin (from the 2nd quartile).
  2. Aug '25P/E fell below the 10th percentile of its own history to date (15.1x).
  3. Jul '25Share count is up 16.7% over 12 months.
  4. Jun '25Moved into the 2nd quartile of Consumer Non-Durables on operating margin (from the 3rd quartile).
  5. Jun '25Debt / equity fell below 1.0x (0.82x).
  6. Mar '25Slipped to the 3rd quartile of Consumer Non-Durables on ROCE (from the 2nd quartile).
  7. Dec '24Promoter holding rose 9.5 pts to 25.5%.
  8. Dec '24Moved into the 2nd quartile of Consumer Non-Durables on operating margin (from the 3rd quartile).
  9. Sep '24Promoter holding fell 4.6 pts to 16.0% (largest drop since 2024-06).
  10. Sep '24Slipped to the bottom quartile of Consumer Non-Durables on EPS growth (from the 3rd quartile).
  11. Jun '24Promoter holding fell 7.1 pts to 20.6%.
  12. Jun '24Year-on-year EPS growth turned negative.
  13. Jun '24Slipped to the 3rd quartile of Consumer Non-Durables on EPS growth (from the top quartile).
  14. Jun '24Share count is up 20.0% over 12 months.
  15. Nov '23P/E fell below the 10th percentile of its own history to date (18.2x).
  16. Jun '23Revenue (TTM) reached a new high of ₹999 cr.
  17. Jun '23Moved into the 2nd quartile of Consumer Non-Durables on ROCE (from the 3rd quartile).
  18. Nov '22Regained the 2022-01 peak, 4 months after the low.
  19. Jul '22Fell 53% from the Jan 2022 peak to the Jul 2022 low.
  20. Jun '22Debt / equity rose above 1.0x (1.13x).
  21. 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.

All terms explained in the glossary →

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

GroupDec '23Jun '26Change
Promoters27.7%25.4%-2.3 pts
FIIs0.1%0.0%-0.1 pts
DIIs0.1%1.1%+1.0 pts
Public and others72.0%73.5%+1.5 pts

Number of shareholders

22,041shareholders+12% since Dec '23
20k21k23k24k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 19,749
Mar '24: 21,455
Jun '24: 21,354
Sep '24: 22,476
Dec '24: 23,927
Mar '25: 23,490
Jun '25: 23,648
Sep '25: 23,222
Dec '25: 22,794
Mar '26: 22,365
Jun '26: 22,041
20k21k23k24k Dec '23Dec '24Dec '25Jun '26
Dec '23: 19,749
Mar '24: 21,455
Jun '24: 21,354
Sep '24: 22,476
Dec '24: 23,927
Mar '25: 23,490
Jun '25: 23,648
Sep '25: 23,222
Dec '25: 22,794
Mar '26: 22,365
Jun '26: 22,041

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-81.0%not yet recovered
1-year volatility47.4%annualised

Monthly share price

₹41₹93₹145₹197 Nov '21Nov '22Nov '23Nov '24Nov '25Oct '26
2021-11: ₹87.00
2021-12: ₹88.10
2022-01: ₹103.25
2022-02: ₹88.15
2022-03: ₹83.70
2022-04: ₹81.05
2022-05: ₹77.50
2022-06: ₹68.70
2022-07: ₹64.85
2022-08: ₹77.70
2022-09: ₹94.95
2022-10: ₹90.45
2022-11: ₹134.70
2022-12: ₹118.25
2023-01: ₹137.70
2023-02: ₹128.40
2023-03: ₹118.50
2023-04: ₹138.65
2023-05: ₹163.00
2023-06: ₹183.35
2023-07: ₹178.90
2023-08: ₹181.60
2023-09: ₹197.45
2023-10: ₹173.05
2023-11: ₹169.90
2023-12: ₹160.05
2024-01: ₹152.45
2024-02: ₹143.75
2024-03: ₹130.35
2024-04: ₹157.25
2024-05: ₹144.10
2024-06: ₹147.15
2024-07: ₹162.05
2024-08: ₹133.89
2024-09: ₹135.65
2024-10: ₹130.54
2024-11: ₹116.14
2024-12: ₹114.76
2025-01: ₹110.74
2025-02: ₹86.90
2025-03: ₹81.32
2025-04: ₹88.08
2025-05: ₹97.49
2025-06: ₹115.13
2025-07: ₹107.33
2025-08: ₹87.44
2025-09: ₹87.12
2025-10: ₹81.57
2025-11: ₹75.75
2025-12: ₹69.46
2026-01: ₹60.05
2026-02: ₹58.30
2026-03: ₹45.83
2026-04: ₹64.41
2026-05: ₹56.31
2026-06: ₹54.43
2026-07: ₹54.61
2026-08: ₹54.97
2026-09: ₹50.92
2026-10: ₹41.33
₹41₹93₹145₹197 Nov '21Jul '23Mar '25Oct '26
2021-11: ₹87.00
2021-12: ₹88.10
2022-01: ₹103.25
2022-02: ₹88.15
2022-03: ₹83.70
2022-04: ₹81.05
2022-05: ₹77.50
2022-06: ₹68.70
2022-07: ₹64.85
2022-08: ₹77.70
2022-09: ₹94.95
2022-10: ₹90.45
2022-11: ₹134.70
2022-12: ₹118.25
2023-01: ₹137.70
2023-02: ₹128.40
2023-03: ₹118.50
2023-04: ₹138.65
2023-05: ₹163.00
2023-06: ₹183.35
2023-07: ₹178.90
2023-08: ₹181.60
2023-09: ₹197.45
2023-10: ₹173.05
2023-11: ₹169.90
2023-12: ₹160.05
2024-01: ₹152.45
2024-02: ₹143.75
2024-03: ₹130.35
2024-04: ₹157.25
2024-05: ₹144.10
2024-06: ₹147.15
2024-07: ₹162.05
2024-08: ₹133.89
2024-09: ₹135.65
2024-10: ₹130.54
2024-11: ₹116.14
2024-12: ₹114.76
2025-01: ₹110.74
2025-02: ₹86.90
2025-03: ₹81.32
2025-04: ₹88.08
2025-05: ₹97.49
2025-06: ₹115.13
2025-07: ₹107.33
2025-08: ₹87.44
2025-09: ₹87.12
2025-10: ₹81.57
2025-11: ₹75.75
2025-12: ₹69.46
2026-01: ₹60.05
2026-02: ₹58.30
2026-03: ₹45.83
2026-04: ₹64.41
2026-05: ₹56.31
2026-06: ₹54.43
2026-07: ₹54.61
2026-08: ₹54.97
2026-09: ₹50.92
2026-10: ₹41.33

Last 90 trading days

₹41₹49₹56₹63 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹57.82
2026-06-25: ₹55.96
2026-06-30: ₹54.43
2026-07-02: ₹57.83
2026-07-06: ₹61.83
2026-07-08: ₹58.69
2026-07-10: ₹60.76
2026-07-14: ₹61.24
2026-07-16: ₹59.52
2026-07-20: ₹57.68
2026-07-22: ₹56.97
2026-07-24: ₹55.05
2026-07-28: ₹55.31
2026-07-30: ₹54.14
2026-08-03: ₹54.33
2026-08-05: ₹53.44
2026-08-07: ₹54.92
2026-08-11: ₹53.07
2026-08-13: ₹53.94
2026-08-17: ₹53.75
2026-08-19: ₹53.86
2026-08-21: ₹54.43
2026-08-25: ₹54.53
2026-08-27: ₹53.15
2026-08-31: ₹54.97
2026-09-02: ₹54.78
2026-09-04: ₹57.37
2026-09-08: ₹56.08
2026-09-10: ₹56.77
2026-09-15: ₹53.49
2026-09-17: ₹54.79
2026-09-21: ₹53.15
2026-09-23: ₹53.41
2026-09-25: ₹52.97
2026-09-29: ₹51.46
2026-10-01: ₹49.39
2026-10-06: ₹50.78
2026-10-08: ₹47.69
2026-10-12: ₹49.54
2026-10-14: ₹48.75
2026-10-16: ₹47.13
2026-10-21: ₹44.78
2026-10-23: ₹42.53
2026-10-27: ₹42.95
2026-10-29: ₹42.64
2026-10-30: ₹41.33
₹41₹49₹56₹63 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹57.82
2026-06-25: ₹55.96
2026-06-30: ₹54.43
2026-07-02: ₹57.83
2026-07-06: ₹61.83
2026-07-08: ₹58.69
2026-07-10: ₹60.76
2026-07-14: ₹61.24
2026-07-16: ₹59.52
2026-07-20: ₹57.68
2026-07-22: ₹56.97
2026-07-24: ₹55.05
2026-07-28: ₹55.31
2026-07-30: ₹54.14
2026-08-03: ₹54.33
2026-08-05: ₹53.44
2026-08-07: ₹54.92
2026-08-11: ₹53.07
2026-08-13: ₹53.94
2026-08-17: ₹53.75
2026-08-19: ₹53.86
2026-08-21: ₹54.43
2026-08-25: ₹54.53
2026-08-27: ₹53.15
2026-08-31: ₹54.97
2026-09-02: ₹54.78
2026-09-04: ₹57.37
2026-09-08: ₹56.08
2026-09-10: ₹56.77
2026-09-15: ₹53.49
2026-09-17: ₹54.79
2026-09-21: ₹53.15
2026-09-23: ₹53.41
2026-09-25: ₹52.97
2026-09-29: ₹51.46
2026-10-01: ₹49.39
2026-10-06: ₹50.78
2026-10-08: ₹47.69
2026-10-12: ₹49.54
2026-10-14: ₹48.75
2026-10-16: ₹47.13
2026-10-21: ₹44.78
2026-10-23: ₹42.53
2026-10-27: ₹42.95
2026-10-29: ₹42.64
2026-10-30: ₹41.33

Drawdown from peak

0% -41% -81% Nov '21May '24Oct '26 0% -41% -81% Nov '21May '24Oct '26
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).

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 Consumer Non-Durables sector page Watch it move against Consumer Non-Durables in the Observatory

What happened next to similar setups

−1.6%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 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

−100%−50%0%+50%+100%
MANGALAM · Aug 2025: −60.3% vs market
BALAJEE · Sep 2025: −45.7% vs market
VISHWARAJ · Jun 2024: −42.3% vs market
AHLADA · Jun 2025: −40.5% vs market
DBOL · Jul 2024: −39.4% vs market
VIRINCHI · May 2024: −38.9% vs market
MAWANASUG · Apr 2023: −31.4% vs market
TEXMOPIPES · Mar 2025: −31.4% vs market
BESTAGRO · Oct 2025: −28.7% vs market
ISFT · Dec 2022: −28.5% vs market
UTTAMSUGAR · Sep 2024: −28.2% vs market
TNPL · Dec 2024: −27.6% vs market
PRITIKAUTO · May 2025: −26.6% vs market
BODALCHEM · Nov 2023: −22.6% vs market
NDL · Jan 2020: −22.5% vs market
SUKHJITS · Jun 2024: −21.8% vs market
RGL · Sep 2022: −21.0% vs market
NELCAST · Jan 2025: −21.0% vs market
INDIANHUME · May 2022: −20.9% vs market
HITECHCORP · Feb 2024: −20.4% vs market
AVADHSUGAR · Mar 2023: −18.0% vs market
NAHARSPING · Aug 2023: −14.8% vs market
JINDALPOLY · Oct 2023: −12.8% vs market
RSWM · Jul 2023: −11.8% vs market
BANSWRAS · Sep 2024: −2.3% vs market
HARIOMPIPE · May 2025: −0.9% vs market
SUTLEJTEX · Jul 2023: −0.4% vs market
SHIVATEX · May 2023: +0.8% vs market
TBZ · Feb 2022: +2.0% vs market
MUKANDLTD · Jan 2025: +4.0% vs market
BVCL · Jun 2025: +8.0% vs market
HARRMALAYA · Apr 2023: +11.1% vs market
DCMNVL · Jul 2023: +11.7% vs market
MUNJALAU · Jul 2022: +14.0% vs market
DHAMPURSUG · Mar 2025: +21.6% vs market
NECLIFE · May 2023: +31.7% vs market
BALPHARMA · Sep 2025: +31.8% vs market
PCJEWELLER · Feb 2022: +35.5% vs market
COSMOFIRST · Aug 2024: +37.4% vs market
HUHTAMAKI · Jun 2022: +37.8% vs market
JAYBARMARU · Feb 2025: +38.9% vs market
DYNAMATECH · Jun 2020: +42.8% vs market
HPL · Oct 2020: +43.4% vs market
RICOAUTO · May 2025: +55.0% vs market
NRAIL · May 2025: +64.7% vs market
WABAG · Mar 2020: +69.5% vs market
MMFL · Sep 2025: +93.5% vs market
DCMSRIND · Apr 2023: +100.0% vs market
ORIENTBELL · Mar 2020: +109.3% vs market
SKIPPER · Jul 2022: +199.4% vs market
Similar setups −1.6%All companies −6.7%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
−1.6%
All companies' median
−6.7%
Beat the market
46% vs 43%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DHAMPURSUG
Process Industries
Mar 2025 14x11% −42%−52% +22%
BODALCHEM
Process Industries
Nov 2023 24x5% −8%−21% −23%
MANGALAM
Health Technology
Aug 2025 18x8% −42%−46% −60%
DBOL
Process Industries
Jul 2024 20x5% −17%−24% −39%
SUTLEJTEX
Process Industries
Jul 2023 21x8% −26%−38% 0%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HPL
Electronic Technology
Oct 2020 9x7% −32%−39% +43%
PCJEWELLER
Consumer Durables
Feb 2022 16x6% −32%−35% +36%
BALAJEE
Process Industries
Sep 2025 16x13% −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.

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 FOODS & INNS 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 (60 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1012.4x₹789 cr4.3%9.0%0.8x
2026-0915.3x₹789 cr4.3%9.0%0.8x
2026-0814.6x₹868 cr4.9%9.0%0.8x
2026-0714.5x₹868 cr4.9%9.0%0.8x
2026-0614.4x₹868 cr4.9%9.0%0.8x
2026-0513.1x₹976 cr5.8%12.0%0.8x
2026-0415.0x₹976 cr5.8%12.0%0.8x
2026-0310.7x₹976 cr5.8%12.0%0.8x
2026-0213.4x₹1015 cr5.9%12.0%0.8x
2026-0113.8x₹1015 cr5.9%12.0%0.8x
2025-1216.0x₹1015 cr5.9%12.0%0.8x
2025-1113.1x₹992 cr7.9%12.0%0.8x
2025-1014.1x₹992 cr7.9%12.0%0.8x
2025-0915.0x₹992 cr7.9%12.0%0.8x
2025-0815.1x₹1003 cr7.8%12.0%0.8x
2025-0718.6x₹1003 cr7.8%12.0%0.8x
2025-0619.9x₹1003 cr7.8%12.0%0.8x
2025-0527.7x₹951 cr6.1%15.0%1.2x
2025-0425.0x₹951 cr6.1%15.0%1.2x
2025-0323.1x₹951 cr6.1%15.0%1.2x
2025-0221.1x₹911 cr6.8%15.0%1.2x
2025-0126.9x₹911 cr6.8%15.0%1.2x
2024-1227.9x₹911 cr6.8%15.0%1.2x
2024-1122.8x₹979 cr7.4%15.0%1.2x
2024-1025.6x₹979 cr7.4%15.0%1.2x
2024-0926.7x₹979 cr7.4%15.0%1.2x
2024-0819.7x₹1020 cr9.2%15.0%1.2x
2024-0723.8x₹1020 cr9.2%15.0%1.2x
2024-0621.6x₹1020 cr9.2%15.0%1.2x
2024-0515.5x₹999 cr15.1%17.0%1.1x
2024-0416.9x₹999 cr15.1%17.0%1.1x
2024-0314.0x₹999 cr15.1%17.0%1.1x
2024-0215.4x₹999 cr15.1%17.0%1.1x
2024-0116.4x₹999 cr15.1%17.0%1.1x
2023-1217.2x₹999 cr15.1%17.0%1.1x
2023-1118.2x₹999 cr15.1%17.0%1.1x
2023-1018.6x₹999 cr15.1%17.0%1.1x
2023-0921.2x₹999 cr15.1%17.0%1.1x
2023-0819.5x₹999 cr15.1%17.0%1.1x
2023-0719.2x₹999 cr15.1%17.0%1.1x
2023-0619.7x₹999 cr15.1%17.0%1.1x
2023-0553.6x₹632 cr7.6%12.0%1.1x
2023-0445.6x₹632 cr7.6%12.0%1.1x
2023-0339.0x₹632 cr7.6%12.0%1.1x
2023-0242.2x₹632 cr7.6%12.0%1.1x
2023-0145.3x₹632 cr7.6%12.0%1.1x
2022-1238.9x₹632 cr7.6%12.0%1.1x
2022-1144.3x₹632 cr7.6%12.0%1.1x
2022-1029.8x₹632 cr7.6%12.0%1.1x
2022-0931.2x₹632 cr7.6%12.0%1.1x
2022-0825.6x₹632 cr7.6%12.0%1.1x
2022-0721.3x₹632 cr7.6%12.0%1.1x
2022-0622.6x₹632 cr7.6%12.0%1.1x
2022-0599.4x₹371 cr2.3%7.0%0.9x
2022-04103.9x₹371 cr2.3%7.0%0.9x
2022-03107.3x₹371 cr2.3%7.0%0.9x
2022-02113.0x₹371 cr2.3%7.0%0.9x
2022-01132.4x₹371 cr2.3%7.0%0.9x
2021-12112.9x₹371 cr2.3%7.0%0.9x
2021-11111.5x₹371 cr2.3%7.0%0.9x

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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