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GANESHA ECOSPHERE LIMITED (GANECOS)

Process Industries · Textiles · 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.50 / 100
Profitability 44Growth 50Balance sheet 57
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.20 / 100
Price 21Earnings 35FII/DII 3

Passes these screensInstitutions in, retail out

Compare withVARDHMAN TEXTILES LIMTEDARVINDTRIDENT

Share price

Closing priceAdjusted for splits and bonus issues.

₹867.7 latest close · −15.6% over the last 90 sessions

₹1,000₹1,200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,000₹1,200Jul 3Sep 4Nov 9

₹867.7 month-end · −5.4% over 12 months

₹800₹1,000₹1,200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹800₹1,000₹1,200Nov '25May '26Nov '26

₹867.7 month-end · −13.2% over 3 years

₹1,000₹2,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,000₹2,000Nov '23May '25Nov '26

₹867.7 month-end · +290.1% since Jun '20

₹1,000₹2,000Jun '20Sep '21Jan '23Apr '24Aug '25Nov '26 ₹1,000₹2,000Jun '20Sep '23Nov '26

52-week range ₹653.55 to ₹1268.00 · 1-year volatility 50.6%

Was the rally earned?

-5%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 52 points, while the multiple moved less (P/E 25.5x to 41.2x).
  • The share count rose 5%.
Net profit growth: −48 pts. Points of the price return explained by net profit growing (or shrinking).−48 ptsNet profit growthP/E change: +47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+47 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: −5%−5%Share priceNet profit growth: −48 pts. Points of the price return explained by net profit growing (or shrinking).−48ProfitP/E change: +47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+47P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: −5%−5%Share price
Net profit growth-48 ptsNet profit fell about 39%, which lowers the price.
P/E change+47 ptsThe P/E rose from 25.5x to 41.2x, which lifts the price.
Share count change-4 ptsShare count rose 5%, which lowers the price.
-13%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 38 points, while the multiple moved less (P/E 31.4x to 41.2x).
  • The share count rose 24%.
Net profit growth: −19 pts. Points of the price return explained by net profit growing (or shrinking).−19 ptsNet profit growthP/E change: +25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+25 ptsP/E changeShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20 ptsShare count changeShare price: −13%−13%Share priceNet profit growth: −19 pts. Points of the price return explained by net profit growing (or shrinking).−19ProfitP/E change: +25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+25P/EShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20SharesShare price: −13%−13%Share price
Net profit growth-19 ptsNet profit fell about 18%, which lowers the price.
P/E change+25 ptsThe P/E rose from 31.4x to 41.2x, which lifts the price.
Share count change-20 ptsShare count rose 24%, which lowers the price.
+79%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 24.3x to 41.2x); per-share earnings added 8 points.
  • The share count rose 21%.
Net profit growth: +34 pts. Points of the price return explained by net profit growing (or shrinking).+34 ptsNet profit growthP/E change: +71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+71 ptsP/E changeShare count change: −26 pts. Points of the price return explained by the share count changing. More shares count against the price.−26 ptsShare count changeShare price: +79%+79%Share priceNet profit growth: +34 pts. Points of the price return explained by net profit growing (or shrinking).+34ProfitP/E change: +71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+71P/EShare count change: −26 pts. Points of the price return explained by the share count changing. More shares count against the price.−26SharesShare price: +79%+79%Share price
Net profit growth+34 ptsNet profit rose about 28%, which lifts the price.
P/E change+71 ptsThe P/E rose from 24.3x to 41.2x, which lifts the price.
Share count change-26 ptsShare count rose 21%, 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.

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

Compare this with VARDHMAN TEXTILES LIMTED

How rough has the ride been?

Maximum drawdown-72.1%not yet recovered
1-year volatility50.6%annualised
Beta vs sector index1.073-year daily, correlation 0.40
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−71.5% 0%−20%−40%−60%2020202220242026−71.5%
Largest drawdowns

-72.1% (2024-11 peak to 2026-01 low, not yet recovered)

-60.0% (2020-02 peak to 2020-03 low, recovered 2020-12)

-36.0% (2019-04 peak to 2019-12 low, recovered 2020-02)

Most recent volume spikes

2026-07-03: 9.6x the 50-day median, price +11.8% 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?

41.2xP/E todayWithin its usual range
Against its own history79th percentile
CheapestMedian 32.2xDearest

Usual range 18.1x to 69.8x since 2020-06.

Against Process Industries41.2x vs 18.1x
This company
41.2x
Sector median
18.1x

128% above the Process Industries median.

7.6x42.9x78.1x113.3xJun '20Oct '21Feb '23Jun '24Oct '25Nov '267.6x42.9x78.1x113.3xJun '20Aug '22Oct '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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

  • ROCE26th▼ 25 pts vs a year ago
  • Op. margin63rd▲ 7 pts vs a year ago
  • Revenue growth49th▼ 29 pts vs a year ago
  • EPS growth15th▼ 64 pts vs a year ago
  • Debt/equity ↓48th▲ 4 pts vs a year ago
  • Cash cycle ↓42nd▲ 13 pts vs a year ago
  • P/E ↓18th▼ 24 pts vs a year ago
  • 12M momentum55th▲ 53 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~22%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 37.5x, a holder earning 12%/yr needs earnings to grow about 22.1%/yr for 10 years, then trade at 15x.

Delivered−1.9%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap+24.0 ptsimplied minus delivered
Rank93rdmost demanding of 856

Over time

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

-2%17%36% Jun 2020Nov 2026 -2%17%36% Jun 2020Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x23.7%24.8%25.9%
15x21.0%22.1%23.2%
20x17.7%18.8%19.8%

Drag a slider to test other assumptions

Implied: 22.1%/yr

Looking back

  • Jan 2021Price implied 12%/yr; EPS has since grown −11%/yr (6.0 yrs)
  • Jan 2022Price implied 20%/yr; EPS has since grown −7%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹867.70
P/E
41.2x
ROCE
6.0%
Market Cap
₹2324 cr
Revenue (TTM)
₹1568 cr
P/S
1.5x
P/B
1.8x
ROE
4.4%
Operating Margin
14.0%
Debt / Equity
0.4x
Promoter Holding
39.3%
12M Momentum
-5.4%

52-week range

₹653.55₹1268.00
35% of the way from its 52-week low to its high

Price risk

1Y volatility
50.6%
Beta vs sector
1-year daily
0.81

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.40x
Share count, 1Y
+8.0%

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance23%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 23.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.40xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.40x (cash from operations ₹255 cr, net profit ₹182 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+6 daysWithin range

Debtor days are above the median of the previous three fiscal years by 6 days (49 vs 43). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress21% of fixed assetsWithin range

Capital work-in-progress is 21% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-6 days / 2 yrsWithin range

Days payable changed by -6 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 3 years, FIIs added 8.7 pts; DIIs trimmed 4.7 pts; promoters trimmed 3.0 pts.
  • The number of shareholders rose from 37,345 to 58,781 (+57%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters42.3%39.3%-3.0 pts
FIIs1.7%10.4%+8.7 pts
DIIs19.8%15.1%-4.7 pts
Public and others36.1%35.0%-1.1 pts

Number of shareholders

58,781shareholders+57% since Sep '23
37k46k54k62k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 37,345
Dec '23: 40,514
Mar '24: 42,728
Jun '24: 47,713
Sep '24: 53,761
Dec '24: 58,908
Mar '25: 62,358
Jun '25: 62,132
Sep '25: 61,645
Dec '25: 61,054
Mar '26: 58,405
Jun '26: 58,781
 37k46k54k62k Sep '23Sep '24Sep '25Jun '26
Sep '23: 37,345
Dec '23: 40,514
Mar '24: 42,728
Jun '24: 47,713
Sep '24: 53,761
Dec '24: 58,908
Mar '25: 62,358
Jun '25: 62,132
Sep '25: 61,645
Dec '25: 61,054
Mar '26: 58,405
Jun '26: 58,781

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

+1.3%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 GANESHA ECOSPHERE 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 −25% to +45% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+2.7%, 80% range −5.7% to +17.5%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SHIVALIK · Jul 2025: −61.1% vs market
CAMLINFINE · Jul 2023: −47.5% vs market
VIPCLOTHNG · Oct 2023: −40.9% vs market
LIBERTSHOE · Jan 2025: −40.3% vs market
OAL · Nov 2024: −37.2% vs market
BODALCHEM · Oct 2021: −36.4% vs market
TVSSRICHAK · Dec 2023: −33.9% vs market
KOKUYOCMLN · Apr 2020: −32.9% vs market
EVERESTIND · Oct 2023: −31.3% vs market
IFGLEXPOR · Oct 2025: −30.3% vs market
HIKAL · Jun 2023: −27.3% vs market
EXXARO · Sep 2025: −25.8% vs market
KOPRAN · Dec 2023: −25.3% vs market
YUKEN · Mar 2025: −23.6% vs market
MURUDCERA · Jul 2024: −22.7% vs market
SOBHA · Aug 2022: −20.2% vs market
DCXINDIA · Apr 2024: −13.1% vs market
DMCC · Apr 2025: −12.1% vs market
GOCLCORP · May 2020: −10.5% vs market
ORIENTCER · Jul 2025: −8.9% vs market
INDIACEM · Dec 2022: −6.7% vs market
SHEMAROO · Nov 2022: −2.0% vs market
SHK · Apr 2024: −1.6% vs market
DREDGECORP · Apr 2020: −0.4% vs market
DPSCLTD · Jul 2023: +1.1% vs market
THEINVEST · Feb 2024: +1.6% vs market
ALICON · Jun 2022: +6.6% vs market
ACLGATI · Jan 2020: +9.9% vs market
KCP · Mar 2024: +11.8% vs market
UNICHEMLAB · Mar 2023: +14.3% vs market
ORIENTCEM · Mar 2020: +21.7% vs market
VRLLOG · Dec 2021: +21.9% vs market
NIPPOBATRY · Nov 2022: +33.2% vs market
BEML · Sep 2022: +34.7% vs market
SRHHYPOLTD · Feb 2020: +35.5% vs market
SAGCEM · Feb 2021: +35.8% vs market
SANGHIIND · Jan 2023: +41.7% vs market
JPPOWER · Dec 2022: +45.5% vs market
HSCL · Apr 2022: +51.5% vs market
PRECAM · Jul 2022: +57.3% vs market
TIRUMALCHM · Dec 2020: +74.7% vs market
NGLFINE · Oct 2025: +77.5% vs market
ASTRAMICRO · Mar 2023: +78.6% vs market
HBLENGINE · Apr 2021: +101.9% vs market
KIRLOSBROS · Jan 2023: +104.1% vs market
DEEDEV · Oct 2025: +108.0% vs market
SOMANYCERA · Sep 2020: +136.9% vs market
TEXRAIL · Mar 2023: +161.3% vs market
GENUSPOWER · Sep 2022: +174.1% vs market
NEULANDLAB · Jan 2023: +211.4% vs market
Similar setups +1.3%All companies −1.4%← 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 · 7 beyond the range shown, drawn at the edge

Similar setups' median
+1.3%
All companies' median
−1.4%
Beat the market
52% vs 48%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
OAL
Process Industries		 Nov 2024 62x4% +35%−24% −37%
KCP
Producer Manufacturing		 Mar 2024 54x6% +68%−21% +12%
ACLGATI
Transportation		 Jan 2020 41x7% −7%−26% +10%
HIKAL
Health Technology		 Jun 2023 49x8% +31%−25% −27%
HSCL
Process Industries		 Apr 2022 61x4% +55%−16% +52%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GENUSPOWER
Electronic Technology		 Sep 2022 36x8% +11%−27% +174%
ORIENTCER
Non-Energy Minerals		 Jul 2025 52x6% −17%−27% −9%
BEML
Producer Manufacturing		 Sep 2022 48x9% +3%−28% +35%
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/S. 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 GANESHA ECOSPHERE 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.

KOPRANKOPRAN
Health Technology
73%similar
ROCErevenue growth
RATNAVEER PRECISION ENGRATNAVEER
Non-Energy Minerals
67%similar
P/Evolatility
ASIAN GRANITO INDIAASIANTILES
Producer Manufacturing
66%similar
promoter holdingvolatility
SIGACHI INDUSTRIESSIGACHI
Health Technology
64%similar
ROCEP/E
ALICON CASTALLOYALICON
Producer Manufacturing
62%similar
EPS growthP/E
BHAGIRADHA CHEMICALS AND INDUSBHAGCHEM
Process Industries
68%similar
market capROCE
XPRO INDIAXPROINDIA
Process Industries
63%similar
promoter holdingdebt/equity
FAZE THREEFAZE3Q
Process Industries
57%similar
P/EEPS growth

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

What changed?

30 events since Jan '24

  1. JulPriceVolume reached 9.6x its 50-day median on 2026-07-03; price +11.8% that day.
  2. JunResultsRevenue (TTM) reached a new high of ₹1,481 cr.
  3. JunPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  4. JunSharesShare count is up 8.0% over 12 months.
  5. AprPriceVolume reached 271.1x its 50-day median on 2026-04-02; price +8.6% that day.
  6. MarInstitutionsFII + DII holding fell 3.0 pts over 2 quarters to 29.1%.
  7. MarValuationP/E crossed above the 90th percentile of its own history to date (56.3x).
  8. MarPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
Show 22 earlier events
  1. MarPriceVolume reached 84.4x its 50-day median on 2026-03-30; price +9.1% that day.
  2. FebPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the 2nd quartile).
  3. JanPriceFell 72% from the Nov 2024 peak to the Jan 2026 low.
  4. DecPromoterPromoter holding rose 3.2 pts to 39.3%.
  5. DecResultsYear-on-year EPS growth turned negative.
  6. DecPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  7. NovPriceVolume reached 21.3x its 50-day median on 2025-11-26; price +8.7% that day.
  8. JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
  9. JanDebtDebt / equity halved over 12 months to 0.38x.
  10. DecResultsYear-on-year EPS growth turned positive.
  11. DecPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
  12. OctPriceVolume reached 13.2x its 50-day median on 2024-10-10; price +8.6% that day.
  13. SepResultsRevenue (TTM) reached a new high of ₹1,206 cr.
  14. JunPromoterPromoter holding fell 5.9 pts to 36.4%.
  15. JunResultsYear-on-year EPS growth turned negative.
  16. JunInstitutionsFII + DII holding rose 10.4 pts over 1 quarter to 31.2%.
  17. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  18. JunDebtDebt / equity halved over 12 months to 0.38x.
  19. JunSharesShare count is up 13.6% over 12 months.
  20. MayValuationP/E crossed above the 90th percentile of its own history to date (36.4x).
  21. MayPriceVolume reached 11.1x its 50-day median on 2024-05-27; price +1.4% that day.
  22. JanPriceRegained the 2023-06 peak, 2 months after the 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 history78 months · 2020-06 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1141.2x₹1568 cr4.4%6.0%0.4x
2026-1047.4x₹1568 cr4.5%6.0%0.4x
2026-0947.5x₹1568 cr4.5%6.0%0.4x
2026-0870.7x₹1481 cr3.1%6.0%0.4x
2026-0781.9x₹1481 cr3.1%6.0%0.4x
2026-0662.5x₹1481 cr3.1%6.0%0.4x
2026-0561.0x₹1401 cr3.5%11.0%0.5x
2026-0469.4x₹1401 cr3.5%11.0%0.5x
2026-0356.3x₹1401 cr3.5%11.0%0.5x
2026-0230.8x₹1442 cr5.7%11.0%0.5x
2026-0127.3x₹1442 cr5.7%11.0%0.5x
2025-1233.9x₹1442 cr5.7%11.0%0.5x
2025-1125.5x₹1466 cr8.0%11.0%0.5x
2025-1033.9x₹1466 cr8.0%11.0%0.5x
2025-0932.8x₹1466 cr8.0%11.0%0.5x
2025-0832.7x₹1466 cr9.0%11.0%0.5x
2025-0736.5x₹1466 cr9.0%11.0%0.5x
2025-0636.8x₹1466 cr9.0%11.0%0.5x
2025-0538.5x₹1428 cr9.7%8.0%0.4x
2025-0436.3x₹1428 cr9.7%8.0%0.4x
2025-0339.1x₹1428 cr9.7%8.0%0.4x
2025-0238.7x₹1315 cr8.1%8.0%0.4x
2025-0150.9x₹1315 cr8.1%8.0%0.4x
2024-1259.4x₹1315 cr8.1%8.0%0.4x
2024-1197.8x₹1206 cr5.8%8.0%0.4x
2024-1085.8x₹1206 cr5.8%8.0%0.4x
2024-0976.5x₹1206 cr5.8%8.0%0.4x
2024-08113.4x₹1123 cr3.9%8.0%0.4x
2024-07100.5x₹1123 cr3.9%8.0%0.4x
2024-0687.5x₹1123 cr3.9%8.0%0.4x
2024-0536.4x₹1180 cr10.8%11.0%0.8x
2024-0433.9x₹1180 cr10.8%11.0%0.8x
2024-0331.0x₹1180 cr10.8%11.0%0.8x
2024-0233.7x₹1180 cr10.8%11.0%0.8x
2024-0135.5x₹1180 cr10.8%11.0%0.8x
2023-1230.8x₹1180 cr10.8%11.0%0.8x
2023-1131.4x₹1180 cr10.8%11.0%0.8x
2023-1027.4x₹1180 cr10.8%11.0%0.8x
2023-0931.0x₹1180 cr10.8%11.0%0.8x
2023-0832.8x₹1180 cr10.8%11.0%0.8x
2023-0732.3x₹1180 cr10.8%11.0%0.8x
2023-0634.0x₹1180 cr10.8%11.0%0.8x
2023-0534.7x₹1021 cr10.8%12.0%0.6x
2023-0435.1x₹1021 cr10.8%12.0%0.6x
2023-0329.7x₹1021 cr10.8%12.0%0.6x
2023-0231.3x₹1021 cr10.8%12.0%0.6x
2023-0131.7x₹1021 cr10.8%12.0%0.6x
2022-1232.6x₹1021 cr10.8%12.0%0.6x
2022-1132.0x₹1021 cr10.8%12.0%0.6x
2022-1028.8x₹1021 cr10.8%12.0%0.6x
2022-0922.1x₹1021 cr10.8%12.0%0.6x
2022-0822.9x₹1021 cr10.8%12.0%0.6x
2022-0722.3x₹1021 cr10.8%12.0%0.6x
2022-0621.1x₹1021 cr10.8%12.0%0.6x
2022-0531.9x₹751 cr8.5%11.0%0.2x
2022-0435.8x₹751 cr8.5%11.0%0.2x
2022-0336.4x₹751 cr8.5%11.0%0.2x
2022-0231.5x₹751 cr8.5%11.0%0.2x
2022-0131.2x₹751 cr8.5%11.0%0.2x
2021-1225.5x₹751 cr8.5%11.0%0.2x
2021-1124.3x₹751 cr8.5%11.0%0.2x
2021-1025.1x₹751 cr8.5%11.0%0.2x
2021-0924.5x₹751 cr8.5%11.0%0.2x
2021-0826.3x₹751 cr8.5%11.0%0.2x
2021-0726.1x₹751 cr8.5%11.0%0.2x
2021-0627.1x₹751 cr8.5%11.0%0.2x
2021-0519.2x₹889 cr13.4%—0.2x
2021-0420.3x₹889 cr13.4%—0.2x
2021-0320.2x₹889 cr13.4%—0.2x
2021-0220.2x₹889 cr13.4%—0.2x
2021-0115.7x₹889 cr13.4%—0.2x
2020-1213.7x₹889 cr13.4%—0.2x
2020-1111.2x₹889 cr13.4%—0.2x
2020-109.2x₹889 cr13.4%—0.2x
2020-098.8x₹889 cr13.4%—0.2x
2020-089.0x₹889 cr13.4%—0.2x
2020-078.1x₹889 cr13.4%—0.2x
2020-067.6x₹889 cr13.4%—0.2x

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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