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GANDHI SPECIAL TUBES LIMITED (GANDHITUBE)

Non-Energy Minerals · Steel · 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.84 / 100
Profitability 96Growth 55Balance 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.58 / 100
Price 68Earnings 62FII/DII 44

Passes these screensQuality CompounderDebt-light & profitable

Compare withJSW STEELTATA STEELJINDAL STEEL

Share price

Closing priceAdjusted for splits and bonus issues.

₹887.75 latest close · +3.1% over the last 90 sessions

₹900₹1,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹900₹1,000Jul 3Sep 4Nov 9

₹887.75 month-end · +15.4% over 12 months

₹800₹900Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹800₹900Nov '25May '26Nov '26

₹887.75 month-end · +31.9% over 3 years

₹600₹800₹1,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹600₹800₹1,000Nov '23May '25Nov '26

₹887.75 month-end · +142.1% since Jan '19

₹250₹500₹750₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹250₹500₹750₹1,000Jan '19Dec '22Nov '26

52-week range ₹681.05 to ₹1046.60 · 1-year volatility 37.9%

Was the rally earned?

+15%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 13 points to the rise, while the multiple moved less (P/E 14.2x to 14.4x).
  • The share count barely moved.
Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsNet profit growthP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2 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: +15%+15%Share priceNet profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14ProfitP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +15%+15%Share price
Net profit growth+14 ptsNet profit rose about 14%, which lifts the price.
P/E change+2 ptsThe P/E rose from 14.2x to 14.4x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+32%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 53 points, but investors now pay less per rupee of profit (P/E 17.3x to 14.4x), which took 21 points back.
  • The share count barely moved.
Net profit growth: +54 pts. Points of the price return explained by net profit growing (or shrinking).+54 ptsNet profit growthP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +32%+32%Share priceNet profit growth: +54 pts. Points of the price return explained by net profit growing (or shrinking).+54ProfitP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +32%+32%Share price
Net profit growth+54 ptsNet profit rose about 60%, which lifts the price.
P/E change-21 ptsThe P/E fell from 17.3x to 14.4x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+142%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 126 points to the rise, while the multiple moved less (P/E 13.1x to 14.4x).
  • The share count fell 5%.
Net profit growth: +118 pts. Points of the price return explained by net profit growing (or shrinking).+118 ptsNet profit growthP/E change: +15 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+15 ptsP/E changeShare count change: +9 pts. Points of the price return explained by the share count changing. More shares count against the price.+9 ptsShare count changeShare price: +142%+142%Share priceNet profit growth: +118 pts. Points of the price return explained by net profit growing (or shrinking).+118ProfitP/E change: +15 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+15P/EShare count change: +9 pts. Points of the price return explained by the share count changing. More shares count against the price.+9SharesShare price: +142%+142%Share price
Net profit growth+118 ptsNet profit rose about 108%, which lifts the price.
P/E change+15 ptsThe P/E rose from 13.1x to 14.4x, which lifts the price.
Share count change+9 ptsShare count fell 5%, which lifts 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 JSW STEEL

How rough has the ride been?

Maximum drawdown-65.5%recovered 2021-06
1-year volatility37.9%annualised
Beta vs sector index0.493-year daily, correlation 0.26
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−59.8% 0%−20%−40%−60%2020202220242026−59.8%
Largest drawdowns

-65.5% (2019-06 peak to 2020-03 low, recovered 2021-06)

-43.0% (2021-08 peak to 2022-02 low, recovered 2022-11)

-34.2% (2024-12 peak to 2025-02 low, recovered 2025-09)

Most recent volume spikes

2026-10-01: 5.4x the 50-day median, price +2.5% that day

2026-09-23: 5.4x the 50-day median, price -0.8% that day

2026-09-22: 62.2x the 50-day median, price +10.3% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

14.4xP/E todayWithin its usual range
Against its own history47th percentile
CheapestMedian 14.8xDearest

Usual range 11.4x to 18.7x since 2019-01.

Against Non-Energy Minerals14.4x vs 21.8x
This company
14.4x
Sector median
21.8x

34% below the Non-Energy Minerals median.

5.9x14.2x22.5x30.9xJan '19Aug '20Mar '22Oct '23May '25Nov '265.9x14.2x22.5x30.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

  • ROCE95th▲ 3 pts vs a year ago
  • Op. margin97thflat vs a year ago
  • Revenue growth57th▼ 10 pts vs a year ago
  • EPS growth54th▼ 25 pts vs a year ago
  • Debt/equity ↓99thflat vs a year ago
  • Cash cycle ↓8thflat vs a year ago
  • P/E ↓71st▼ 7 pts vs a year ago
  • 12M momentum76th▲ 17 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~13%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 20.1x, a holder earning 12%/yr needs earnings to grow about 13.3%/yr for 10 years, then trade at 15x.

Delivered10.8%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+2.5 ptsimplied minus delivered
Rank485thmost demanding of 856

Over time

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

0%9%17% Jan 2019Nov 2026 0%9%17% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x14.5%15.6%16.6%
15x12.3%13.3%14.3%
20x9.4%10.4%11.4%

Drag a slider to test other assumptions

Implied: 13.3%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 11%/yr (7.0 yrs)
  • Jan 2021Price implied 5%/yr; EPS has since grown 22%/yr (6.0 yrs)
  • Jan 2022Price implied 10%/yr; EPS has since grown 14%/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 Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹887.75
P/E
14.4x
ROCE
28.0%
Market Cap
₹1002 cr
Revenue (TTM)
₹200 cr
P/S
5.0x
P/B
3.2x
ROE
21.9%
Operating Margin
47.0%
Debt / Equity
0.0x
Promoter Holding
73.5%
12M Momentum
15.4%

52-week range

₹681.05₹1046.60
57% of the way from its 52-week low to its high

Price risk

1Y volatility
37.9%
Beta vs sector
1-year daily
0.47

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.70x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance13%Within range

Other income as a share of pre-tax profit (trailing twelve months): 13.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 24.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.70xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.70x (cash from operations ₹128 cr, net profit ₹183 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-3 daysWithin range

Debtor days are below the median of the previous three fiscal years by 3 days (39 vs 42). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+1 days / 2 yrsWithin range

Days payable changed by +1 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 11,109 to 13,841 (+25%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters73.5%73.5%0.0 pts
FIIs1.5%1.2%-0.3 pts
DIIs0.0%0.1%+0.1 pts
Public and others25.0%25.2%+0.2 pts

Number of shareholders

13,841shareholders+25% since Dec '23
11k12k13k14k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 11,109
Mar '24: 11,479
Jun '24: 11,609
Sep '24: 11,645
Dec '24: 11,507
Mar '25: 11,626
Jun '25: 11,475
Sep '25: 12,113
Dec '25: 12,017
Mar '26: 12,082
Jun '26: 13,841
 11k12k13k14k Dec '23Dec '24Dec '25Jun '26
Dec '23: 11,109
Mar '24: 11,479
Jun '24: 11,609
Sep '24: 11,645
Dec '24: 11,507
Mar '25: 11,626
Jun '25: 11,475
Sep '25: 12,113
Dec '25: 12,017
Mar '26: 12,082
Jun '26: 13,841

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

−11.4%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like GANDHI SPECIAL TUBES LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −27% to +32% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−8.0%, 80% range −18.0% to +10.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
IPL · Feb 2024: −64.7% vs market
GRSE · Sep 2020: −45.4% vs market
TVTODAY · Dec 2021: −44.3% vs market
SASKEN · Aug 2021: −43.2% vs market
QUICKHEAL · Jul 2021: −36.3% vs market
VIMTALABS · Sep 2023: −35.3% vs market
ALBERTDAVD · Mar 2020: −34.2% vs market
BEPL · Aug 2024: −32.0% vs market
CARERATING · Oct 2021: −31.2% vs market
CONTROLPR · Aug 2023: −29.7% vs market
BAJAJCON · Oct 2023: −29.3% vs market
INDOBORAX · Jul 2023: −27.7% vs market
PROPEQUITY · May 2024: −27.0% vs market
MAZDA · Oct 2023: −26.5% vs market
ACCELYA · Jan 2020: −26.4% vs market
MOIL · Jan 2020: −25.7% vs market
AMBIKCO · Oct 2021: −24.8% vs market
INDNIPPON · Apr 2020: −22.9% vs market
KRONOX · Jun 2025: −22.3% vs market
LINCOLN · Feb 2024: −20.8% vs market
GPPL · Sep 2024: −20.0% vs market
ELDEHSG · Jul 2023: −19.1% vs market
UNITEDTEA · Aug 2020: −18.4% vs market
SYSTANGO · May 2025: −15.0% vs market
SHREDIGCEM · May 2023: −12.0% vs market
FINCABLES · Nov 2021: −10.8% vs market
LIKHITHA · Dec 2022: −2.6% vs market
MONARCH · Jul 2025: +2.6% vs market
XCHANGING · Jun 2020: +6.7% vs market
NESCO · Feb 2025: +9.4% vs market
CONCORDBIO · Aug 2024: +9.5% vs market
KSCL · Jul 2024: +10.1% vs market
TDPOWERSYS · Jan 2024: +12.5% vs market
EXPLEOSOL · Sep 2020: +16.7% vs market
MPSLTD · Jul 2024: +20.5% vs market
RITES · Mar 2023: +26.0% vs market
SUPRIYA · Aug 2024: +29.7% vs market
VESUVIUS · Mar 2024: +32.6% vs market
NOCIL · Apr 2020: +33.0% vs market
NUCLEUS · Jul 2020: +44.7% vs market
TECHNOE · Feb 2023: +46.1% vs market
VOLTAMP · Aug 2023: +66.4% vs market
STEELCAS · Sep 2025: +75.4% vs market
ADFFOODS · Jan 2020: +83.9% vs market
SHARDACROP · May 2021: +88.5% vs market
ACCENTMIC · Aug 2025: +95.0% vs market
ANUP · Mar 2023: +112.2% vs market
GLOBAL · Oct 2025: +115.0% vs market
NEWGEN · Mar 2023: +137.5% vs market
CUPID · Sep 2023: +177.2% vs market
Similar setups −11.4%All companies −3.4%← 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
−11.4%
All companies' median
−3.4%
Beat the market
46% vs 46%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SASKEN
Technology Services		 Aug 2021 18x28% +139%−3% −43%
LIKHITHA
Industrial Services		 Dec 2022 19x36% +31%−14% −3%
KSCL
Process Industries		 Jul 2024 18x22% +84%−5% +10%
SHREDIGCEM
Non-Energy Minerals		 May 2023 21x29% +33%−4% −12%
SYSTANGO
Technology Services		 May 2025 21x28% +9%−12% −15%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CONTROLPR
Electronic Technology		 Aug 2023 24x23% +59%−1% −30%
CONCORDBIO
Health Technology		 Aug 2024 28x28% +71%−3% +10%
KRONOX
Process Industries		 Jun 2025 28x44% +26%−13% −22%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, 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. Not used (unavailable for this company): interest cover. 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 GANDHI SPECIAL TUBES LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

PIX TRANSMISSIONSPIXTRANS
Producer Manufacturing
62%similar
revenue growthoperating margin
GLOBAL EDUCATIONGLOBAL
Commercial Services
60%similar
debt/equityROCE
XCHANGING SOLUTIONSXCHANGING
Technology Services
60%similar
revenuerevenue growth
GM BREWERIESGMBREW
Consumer Non-Durables
58%similar
debt/equitypromoter holding
PUDUMJEE PAPER PRODUCTSPDMJEPAPER
Process Industries
58%similar
volatilityEPS growth
ORIENT CEMENTORIENTCEM
Non-Energy Minerals
40%similar
promoter holdingEPS growth
STYLAM INDUSTRIESSTYLAMIND
Non-Energy Minerals
37%similar
ROCErevenue growth
KALYANI STEELSKSL
Non-Energy Minerals
30%similar
P/Evolatility

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

What changed?

30 events since Feb '23

  1. OctPriceVolume reached 5.4x its 50-day median on 2026-10-01; price +2.5% that day.
  2. SepPriceVolume reached 62.2x its 50-day median on 2026-09-22; price +10.3% that day.
  3. MayPriceVolume reached 16.1x its 50-day median on 2026-05-26; price -12.3% that day.
  4. MarResultsRevenue (TTM) reached a new high of ₹187 cr.
  5. FebPriceVolume reached 150.5x its 50-day median on 2026-02-17; price +13.1% that day.
  6. JanPriceFell 30% from the Sep 2025 peak to the Jan 2026 low.
  7. DecPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  8. SepPriceRegained the 2024-12 peak, 7 months after the low.
Show 22 earlier events
  1. SepPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  2. AugPriceVolume reached 107.4x its 50-day median on 2025-08-25; price +11.7% that day.
  3. JunResultsRevenue (TTM) reached a new high of ₹173 cr.
  4. MarPriceVolume reached 69.0x its 50-day median on 2025-03-13; price +15.2% that day.
  5. FebPriceFell 34% from the Dec 2024 peak to the Feb 2025 low.
  6. DecPeer rankMoved into the 2nd quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
  7. DecPriceVolume reached 84.9x its 50-day median on 2024-12-04; price +14.7% that day.
  8. SepPriceVolume reached 13.6x its 50-day median on 2024-09-23; price +6.4% that day.
  9. AugPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  10. JunResultsRevenue (TTM) reached a new high of ₹170 cr.
  11. AprPriceVolume reached 27.6x its 50-day median on 2024-04-26; price +6.8% that day.
  12. MarPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  13. JanPriceVolume reached 62.5x its 50-day median on 2024-01-23; price +5.2% that day.
  14. DecValuationP/E crossed above the 90th percentile of its own history to date (18.7x).
  15. DecPriceVolume reached 16.6x its 50-day median on 2023-12-19; price +7.0% that day.
  16. AugPriceVolume reached 64.6x its 50-day median on 2023-08-10; price +10.2% that day.
  17. JulPriceRegained the 2022-11 peak, 5 months after the low.
  18. JunResultsRevenue (TTM) reached a new high of ₹167 cr.
  19. JunPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
  20. JunPriceVolume reached 22.7x its 50-day median on 2023-06-13; price +4.7% that day.
  21. MayValuationP/E crossed above the 90th percentile of its own history to date (17.0x).
  22. FebPriceFell 26% from the Nov 2022 peak to the Feb 2023 low.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1114.4x₹200 cr21.9%28.0%0.0x
2026-1014.2x₹200 cr21.9%28.0%0.0x
2026-0915.5x₹200 cr21.9%28.0%0.0x
2026-0816.0x₹191 cr20.2%28.0%0.0x
2026-0715.6x₹191 cr20.2%28.0%0.0x
2026-0615.3x₹191 cr20.2%28.0%0.0x
2026-0514.2x₹187 cr25.0%28.0%0.0x
2026-0414.3x₹187 cr25.0%28.0%0.0x
2026-0313.0x₹187 cr25.0%28.0%0.0x
2026-0216.0x₹179 cr23.3%28.0%0.0x
2026-0113.4x₹179 cr23.3%28.0%0.0x
2025-1214.0x₹179 cr23.3%28.0%0.0x
2025-1114.2x₹180 cr22.9%28.0%0.0x
2025-1016.2x₹180 cr22.9%28.0%0.0x
2025-0917.8x₹180 cr22.9%28.0%0.0x
2025-0817.6x₹173 cr20.2%28.0%0.0x
2025-0715.9x₹173 cr20.2%28.0%0.0x
2025-0614.8x₹173 cr20.2%28.0%0.0x
2025-0514.0x₹169 cr24.5%32.0%0.0x
2025-0413.2x₹169 cr24.5%32.0%0.0x
2025-0313.1x₹169 cr24.5%32.0%0.0x
2025-0212.4x₹170 cr23.6%32.0%0.0x
2025-0116.3x₹170 cr23.6%32.0%0.0x
2024-1216.4x₹170 cr23.6%32.0%0.0x
2024-1117.8x₹165 cr22.0%32.0%0.0x
2024-1018.0x₹165 cr22.0%32.0%0.0x
2024-0918.8x₹165 cr22.0%32.0%0.0x
2024-0817.1x₹170 cr22.8%32.0%0.0x
2024-0718.2x₹170 cr22.8%32.0%0.0x
2024-0617.4x₹170 cr22.8%32.0%0.0x
2024-0519.1x₹167 cr23.9%36.0%0.0x
2024-0421.7x₹167 cr23.9%36.0%0.0x
2024-0318.8x₹167 cr23.9%36.0%0.0x
2024-0220.6x₹167 cr23.9%36.0%0.0x
2024-0120.4x₹167 cr23.9%36.0%0.0x
2023-1218.7x₹167 cr23.9%36.0%0.0x
2023-1117.3x₹167 cr23.9%36.0%0.0x
2023-1018.9x₹167 cr23.9%36.0%0.0x
2023-0917.6x₹167 cr23.9%36.0%0.0x
2023-0818.4x₹167 cr23.9%36.0%0.0x
2023-0716.7x₹167 cr23.9%36.0%0.0x
2023-0614.8x₹167 cr23.9%36.0%0.0x
2023-0517.0x₹137 cr24.5%30.0%0.0x
2023-0416.4x₹137 cr24.5%30.0%0.0x
2023-0315.4x₹137 cr24.5%30.0%0.0x
2023-0216.0x₹137 cr24.5%30.0%0.0x
2023-0119.0x₹137 cr24.5%30.0%0.0x
2022-1216.1x₹137 cr24.5%30.0%0.0x
2022-1119.7x₹137 cr24.5%30.0%0.0x
2022-1013.2x₹137 cr24.5%30.0%0.0x
2022-0913.7x₹137 cr24.5%30.0%0.0x
2022-0813.1x₹137 cr24.5%30.0%0.0x
2022-0711.5x₹137 cr24.5%30.0%0.0x
2022-0611.9x₹137 cr24.5%30.0%0.0x
2022-0513.0x₹114 cr19.5%30.0%0.0x
2022-0413.8x₹114 cr19.5%30.0%0.0x
2022-0312.5x₹114 cr19.5%30.0%0.0x
2022-0211.5x₹114 cr19.5%30.0%0.0x
2022-0113.6x₹114 cr19.5%30.0%0.0x
2021-1213.2x₹114 cr19.5%30.0%0.0x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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