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GLENMARK PHARMACEUTICALS LTD (GLENMARK)

Health Technology · Pharmaceuticals: Major · figures to Nov '26

Overall #14
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.86 / 100
Profitability 77Growth 80Balance 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.86 / 100
Price 90Earnings 87FII/DII 82

Passes these screensCash RichQuality CompounderDebt-light & profitableConsistent compoundersNear 52-week high

Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIESTORRENT PHARMACEUTICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹2,671.1 latest close · +20.8% over the last 90 sessions

₹2,200₹2,400₹2,600Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹2,200₹2,400₹2,600Jul 3Sep 4Nov 9

₹2,671.1 month-end · +37.2% over 12 months

₹2,000₹2,250₹2,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹2,000₹2,250₹2,500Nov '25May '26Nov '26

₹2,671.1 month-end · +242.5% over 3 years

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

₹2,671.1 month-end · +309.9% since Jan '19

₹0₹1,000₹2,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹1,000₹2,000Jan '19Dec '22Nov '26

52-week range ₹1801.40 to ₹2714.00 · 1-year volatility 28.6%

Was the rally earned?

+37%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 102 points, but investors now pay less per rupee of profit (P/E 72.9x to 41.9x), which took 65 points back.
  • The share count barely moved.
Net profit growth: +102 pts. Points of the price return explained by net profit growing (or shrinking).+102 ptsNet profit growthP/E change: −65 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−65 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: +37%+37%Share priceNet profit growth: +102 pts. Points of the price return explained by net profit growing (or shrinking).+102ProfitP/E change: −65 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−65P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +37%+37%Share price
Net profit growth+102 ptsNet profit rose about 139%, which lifts the price.
P/E change-65 ptsThe P/E fell from 72.9x to 41.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+243%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 355 points, but investors now pay less per rupee of profit (P/E 74.1x to 41.9x), which took 112 points back.
  • The share count fell 21%.
Net profit growth: +308 pts. Points of the price return explained by net profit growing (or shrinking).+308 ptsNet profit growthP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112 ptsP/E changeShare count change: +47 pts. Points of the price return explained by the share count changing. More shares count against the price.+47 ptsShare count changeShare price: +243%+243%Share priceNet profit growth: +308 pts. Points of the price return explained by net profit growing (or shrinking).+308ProfitP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112P/EShare count change: +47 pts. Points of the price return explained by the share count changing. More shares count against the price.+47SharesShare price: +243%+243%Share price
Net profit growth+308 ptsNet profit rose about 377%, which lifts the price.
P/E change-112 ptsThe P/E fell from 74.1x to 41.9x, which lowers the price.
Share count change+47 ptsShare count fell 21%, which lifts the price.
+410%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 155 points and the multiple added 255 points (P/E 15.2x to 41.9x).
  • The share count barely moved.
Net profit growth: +155 pts. Points of the price return explained by net profit growing (or shrinking).+155 ptsNet profit growthP/E change: +255 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+255 ptsP/E changeShare price: +410%+410%Share priceNet profit growth: +155 pts. Points of the price return explained by net profit growing (or shrinking).+155ProfitP/E change: +255 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+255P/EShare price: +410%+410%Share price
Net profit growth+155 ptsNet profit rose about 85%, which lifts the price.
P/E change+255 ptsThe P/E rose from 15.2x to 41.9x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against 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 SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-72.8%recovered 2023-07
1-year volatility28.6%annualised
Beta vs sector index1.203-year daily, correlation 0.58
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−71.2% 0%−20%−40%−60%2020202220242026−71.2%
Largest drawdowns

-72.8% (2019-01 peak to 2020-03 low, recovered 2023-07)

-29.7% (2024-10 peak to 2025-02 low, recovered 2025-07)

-18.7% (2025-07 peak to 2025-11 low, recovered 2026-03)

Most recent volume spikes

2026-11-06: 10.1x the 50-day median, price +4.4% 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?

41.9xP/E todayWithin its usual range
Against its own history67th percentile
CheapestMedian 17.6xDearest

Usual range 10.9x to 73.9x since 2019-01.

Against Health Technology41.9x vs 37.0x
This company
41.9x
Sector median
37.0x

13% above the Health Technology median.

6.3x40.9x75.6x110.2xJan '19Aug '20Mar '22Oct '23May '25Nov '266.3x40.9x75.6x110.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianHealth Technology 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 Health Technology is valued

Where does it rank among Health Technology peers?

Each cell is the company's percentile rank among its Health Technology 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▲ 27 pts vs a year ago
  • Op. margin59th▲ 7 pts vs a year ago
  • Revenue growth85th▲ 24 pts vs a year ago
  • EPS growth92nd
  • Debt/equity ↓75th▲ 34 pts vs a year ago
  • Cash cycle ↓76th▲ 8 pts vs a year ago
  • P/E ↓42nd▲ 28 pts vs a year ago
  • 12M momentum73rd▼ 19 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 Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~42%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 160.6x, a holder earning 12%/yr needs earnings to grow about 41.7%/yr for 10 years, then trade at 15x.

Delivered−14.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+55.8 ptsimplied minus delivered
Rank6thmost demanding of 856

Over time

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

-14%14%43% Jan 2019Nov 2026 -14%14%43% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x43.5%44.8%46.1%
15x40.4%41.7%42.9%
20x36.5%37.7%38.9%

Drag a slider to test other assumptions

Implied: 41.7%/yr

Looking back

  • Jan 2020Price implied 9%/yr; EPS has since grown 6%/yr (7.0 yrs)
  • Jan 2021Price implied 12%/yr; EPS has since grown 10%/yr (6.0 yrs)
  • Jan 2022Price implied 12%/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 Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹2671.10
P/E
41.9x
ROCE
40.0%
Market Cap
₹75375 cr
Revenue (TTM)
₹17737 cr
P/S
4.2x
P/B
7.2x
ROE
17.1%
Operating Margin
20.0%
Debt / Equity
0.1x
Promoter Holding
46.6%
12M Momentum
37.3%

52-week range

₹1801.40₹2714.00
95% of the way from its 52-week low to its high

Price risk

1Y volatility
28.6%
Beta vs sector
1-year daily
1.30

Balance sheet & cash

Interest cover
operating profit ÷ interest
13.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.41x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 7checks within range3 near a threshold
Other income reliance-57%Within range

Other income as a share of pre-tax profit (trailing twelve months): -57.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.41xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.41x (cash from operations ₹2,352 cr, net profit ₹975 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+15 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 15 days (107 vs 92). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress15% of fixed assetsWithin range

Capital work-in-progress is 15% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+78 days / 2 yrsNear threshold

Days payable changed by +78 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, DIIs added 8.3 pts; FIIs trimmed 3.9 pts.
  • The number of shareholders fell from 2.3 lakh to 2.1 lakh (-9%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters46.6%46.6%0.0 pts
FIIs24.8%20.9%-3.9 pts
DIIs10.3%18.6%+8.3 pts
Public and others18.2%13.8%-4.4 pts

Number of shareholders

2.1 lakhshareholders-9% since Sep '23
1.9L2.0L2.2L2.3L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 2.3 lakh
Dec '23: 2.1 lakh
Mar '24: 2.0 lakh
Jun '24: 1.9 lakh
Sep '24: 1.9 lakh
Dec '24: 2.0 lakh
Mar '25: 1.9 lakh
Jun '25: 1.9 lakh
Sep '25: 2.0 lakh
Dec '25: 2.0 lakh
Mar '26: 2.0 lakh
Jun '26: 2.1 lakh
 1.9L2.0L2.2L2.3L Sep '23Sep '24Sep '25Jun '26
Sep '23: 2.3 lakh
Dec '23: 2.1 lakh
Mar '24: 2.0 lakh
Jun '24: 1.9 lakh
Sep '24: 1.9 lakh
Dec '24: 2.0 lakh
Mar '25: 1.9 lakh
Jun '25: 1.9 lakh
Sep '25: 2.0 lakh
Dec '25: 2.0 lakh
Mar '26: 2.0 lakh
Jun '26: 2.1 lakh

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

−6.2%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like GLENMARK PHARMACEUTICALS 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 −20% to +11% vs the market, against −2% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −4.7%, 80% range −10.7% to −0.1%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
BSOFT · Dec 2021: −47.1% vs market
PETRONET · May 2020: −45.1% vs market
BRITANNIA · Jun 2020: −38.0% vs market
COROMANDEL · Nov 2020: −36.7% vs market
IGL · Apr 2023: −35.9% vs market
CERA · Aug 2023: −34.2% vs market
RATNAMANI · Nov 2023: −28.8% vs market
ABBOTINDIA · Jun 2025: −28.8% vs market
SFL · Nov 2021: −27.6% vs market
FINEORG · Jul 2022: −26.9% vs market
EMAMILTD · Jun 2021: −25.0% vs market
SUMICHEM · May 2022: −21.3% vs market
UNITDSPR · Apr 2025: −20.5% vs market
DEEPAKNTR · Aug 2021: −19.1% vs market
COFORGE · Dec 2024: −18.5% vs market
DOMS · Mar 2025: −17.9% vs market
PAGEIND · Jun 2025: −16.4% vs market
PIIND · Oct 2020: −14.5% vs market
BAJAJ-AUTO · Aug 2024: −11.9% vs market
AJANTPHARM · Jul 2020: −10.2% vs market
PGHL · Sep 2025: −9.7% vs market
SCHAEFFLER · Sep 2025: −7.9% vs market
TCS · Sep 2020: −7.4% vs market
HCLTECH · Jul 2020: −7.2% vs market
ECLERX · Jul 2025: −7.0% vs market
APLAPOLLO · Jan 2023: −5.5% vs market
PERSISTENT · Sep 2024: −4.1% vs market
PRAJIND · Nov 2023: −1.2% vs market
CRISIL · Apr 2022: −1.0% vs market
CROMPTON · Sep 2020: +0.1% vs market
APLLTD · Mar 2020: +0.5% vs market
MARICO · Apr 2025: +2.3% vs market
HAVELLS · Aug 2021: +2.4% vs market
POLYCAB · Oct 2025: +6.8% vs market
GALAXYSURF · Jan 2020: +7.2% vs market
SUPREMEIND · Jan 2020: +8.9% vs market
ATUL · Jan 2020: +8.9% vs market
CGPOWER · Jan 2023: +11.4% vs market
KIMS · Sep 2022: +12.5% vs market
KEI · Aug 2023: +15.6% vs market
SONATSOFTW · Mar 2023: +16.3% vs market
LTTS · Feb 2020: +16.4% vs market
INFY · Mar 2020: +18.6% vs market
EICHERMOT · Mar 2025: +26.6% vs market
SOLARINDS · Oct 2023: +33.5% vs market
CUMMINSIND · Jun 2023: +39.3% vs market
MPHASIS · Sep 2020: +40.3% vs market
HAL · May 2022: +55.3% vs market
INOXINDIA · Sep 2025: +73.2% vs market
VAIBHAVGBL · Jun 2020: +91.3% vs market
Similar setups −6.2%All companies −1.5%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
−6.2%
All companies' median
−1.5%
Beat the market
42% vs 48%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PERSISTENT
Technology Services		 Sep 2024 72x29% +88%0% −4%
POLYCAB
Producer Manufacturing		 Oct 2025 52x30% +19%−2% +7%
MPHASIS
Technology Services		 Sep 2020 20x26% +47%−1% +40%
PETRONET
Utilities		 May 2020 15x31% +2%−12% −45%
SUPREMEIND
Producer Manufacturing		 Jan 2020 40x28% +40%0% +9%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RATNAMANI
Non-Energy Minerals		 Nov 2023 51x27% +93%0% −29%
CROMPTON
Producer Manufacturing		 Sep 2020 37x35% +17%0% 0%
VAIBHAVGBL
Consumer Durables		 Jun 2020 22x30% +50%0% +91%
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: P/E, 12-month momentum and debt/equity. 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 GLENMARK PHARMACEUTICALS 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 2026-11-09. 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.

EICHER MOTORSEICHERMOT
Consumer Durables
76%similar
volatilityrevenue
BHARAT ELECTRONICSBEL
Electronic Technology
75%similar
ROCErevenue
CUMMINS INDIACUMMINSIND
Producer Manufacturing
73%similar
ROCEmarket cap
PERSISTENT SYSTEMSPERSISTENT
Technology Services
69%similar
debt/equityrevenue
RADICO KHAITANRADICO
Consumer Non-Durables
66%similar
market capoperating margin
ALKEM LABORATORIESALKEM
Health Technology
69%similar
operating marginmarket cap
IPCA LABORATORIESIPCALAB
Health Technology
69%similar
promoter holdingmarket cap
AJANTA PHARMAAJANTPHARM
Health Technology
64%similar
debt/equityrevenue growth

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

What changed?

30 events since Dec '22

  1. NovPriceVolume reached 10.1x its 50-day median on 2026-11-06; price +4.4% that day.
  2. SepPeer rankMoved into the top quartile of Health Technology on EPS growth (from the 2nd quartile).
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the top quartile of Health Technology on ROCE (from the 2nd quartile).
  5. MarPeer rankSlipped to the 2nd quartile of Health Technology on operating margin (from the top quartile).
  6. DecPeer rankMoved into the top quartile of Health Technology on operating margin (from the 2nd quartile).
  7. NovPriceVolume reached 10.2x its 50-day median on 2025-11-17; price -1.4% that day.
  8. JulPriceRegained the 2024-10 peak, 5 months after the low.
Show 22 earlier events
  1. JulPriceVolume reached 18.2x its 50-day median on 2025-07-11; price +14.6% that day.
  2. JunResultsEPS (TTM) turned positive.
  3. JunPeer rankMoved into the 2nd quartile of Health Technology on ROCE (from the 3rd quartile).
  4. JunDividendStarted paying a dividend (payout 7% of profit).
  5. MarResultsRevenue (TTM) reached a new high of ₹13,129 cr.
  6. FebPriceFell 30% from the Oct 2024 peak to the Feb 2025 low.
  7. FebPriceVolume reached 5.9x its 50-day median on 2025-02-17; price +3.8% that day.
  8. JanDebtDebt / equity halved over 12 months to 0.16x.
  9. DecPriceVolume reached 5.8x its 50-day median on 2024-12-13; price -1.1% that day.
  10. AugPriceVolume reached 6.9x its 50-day median on 2024-08-16; price +5.0% that day.
  11. JunResultsEPS (TTM) turned negative.
  12. JunDebtDebt / equity halved over 12 months to 0.16x.
  13. JunDividendDividend payout cut from 24% to -5% of profit.
  14. MayPriceVolume reached 8.7x its 50-day median on 2024-05-27; price +8.1% that day.
  15. FebPriceVolume reached 9.2x its 50-day median on 2024-02-16; price +7.7% that day.
  16. SepPriceVolume reached 8.4x its 50-day median on 2023-09-29; price +10.1% that day.
  17. JulPriceRegained the 2019-01 peak, 40 months after the low.
  18. JunValuationP/E crossed above the 90th percentile of its own history to date (64.2x).
  19. JunPeer rankSlipped to the 3rd quartile of Health Technology on ROCE (from the 2nd quartile).
  20. MayPriceVolume reached 6.1x its 50-day median on 2023-05-12; price +5.7% that day.
  21. FebPriceVolume reached 8.0x its 50-day median on 2023-02-14; price +1.7% that day.
  22. DecPriceVolume reached 7.4x its 50-day median on 2022-12-21; price +7.6% that day.

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
2026-1141.9x₹17737 cr17.1%40.0%0.1x
2026-1036.1x₹17737 cr17.1%40.0%0.1x
2026-0936.6x₹17737 cr17.1%40.0%0.1x
2026-0851.4x₹16983 cr12.9%40.0%0.1x
2026-0746.3x₹16983 cr12.9%40.0%0.1x
2026-0645.7x₹16983 cr12.9%40.0%0.1x
2026-0560.3x₹16468 cr12.0%19.0%0.3x
2026-0463.8x₹16468 cr12.0%19.0%0.3x
2026-0356.5x₹16468 cr12.0%19.0%0.3x
2026-0259.7x₹15955 cr11.4%19.0%0.3x
2026-0156.3x₹15955 cr11.4%19.0%0.3x
2025-1256.9x₹15955 cr11.4%19.0%0.3x
2025-1172.9x₹13342 cr8.5%19.0%0.3x
2025-1070.8x₹13342 cr8.5%19.0%0.3x
2025-0973.1x₹13342 cr8.5%19.0%0.3x
2025-0851.9x₹13322 cr11.8%19.0%0.3x
2025-0757.5x₹13322 cr11.8%19.0%0.3x
2025-0647.3x₹13322 cr11.8%19.0%0.3x
2025-05—₹13129 cr-2.2%12.0%0.2x
2025-04—₹13129 cr-2.2%12.0%0.2x
2025-03—₹13129 cr-2.2%12.0%0.2x
2025-02—₹12248 cr-10.8%12.0%0.2x
2025-01—₹12248 cr-10.8%12.0%0.2x
2024-12—₹12248 cr-10.8%12.0%0.2x
2024-11—₹12021 cr-16.1%12.0%0.2x
2024-10—₹12021 cr-16.1%12.0%0.2x
2024-09—₹12021 cr-16.1%12.0%0.2x
2024-08—₹11813 cr-18.3%12.0%0.2x
2024-07—₹11813 cr-18.3%12.0%0.2x
2024-06—₹11813 cr-18.3%12.0%0.2x
2024-05110.2x₹11583 cr4.0%10.0%0.5x
2024-04100.4x₹11583 cr4.0%10.0%0.5x
2024-0391.0x₹11583 cr4.0%10.0%0.5x
2024-0287.9x₹11583 cr4.0%10.0%0.5x
2024-0186.4x₹11583 cr4.0%10.0%0.5x
2023-1281.1x₹11583 cr4.0%10.0%0.5x
2023-1174.1x₹11583 cr4.0%10.0%0.5x
2023-1071.0x₹11583 cr4.0%10.0%0.5x
2023-0981.2x₹11583 cr4.0%10.0%0.5x
2023-0872.8x₹11583 cr4.0%10.0%0.5x
2023-0774.8x₹11583 cr4.0%10.0%0.5x
2023-0664.2x₹11583 cr4.0%10.0%0.5x
2023-0517.9x₹12305 cr10.9%16.0%0.4x
2023-0416.9x₹12305 cr10.9%16.0%0.4x
2023-0313.9x₹12305 cr10.9%16.0%0.4x
2023-0212.8x₹12305 cr10.9%16.0%0.4x
2023-0111.5x₹12305 cr10.9%16.0%0.4x
2022-1212.7x₹12305 cr10.9%16.0%0.4x
2022-1112.9x₹12305 cr10.9%16.0%0.4x
2022-1012.1x₹12305 cr10.9%16.0%0.4x
2022-0911.6x₹12305 cr10.9%16.0%0.4x
2022-0811.1x₹12305 cr10.9%16.0%0.4x
2022-0711.4x₹12305 cr10.9%16.0%0.4x
2022-0611.6x₹12305 cr10.9%16.0%0.4x
2022-0511.4x₹10944 cr13.7%15.0%0.7x
2022-0412.8x₹10944 cr13.7%15.0%0.7x
2022-0312.9x₹10944 cr13.7%15.0%0.7x
2022-0213.0x₹10944 cr13.7%15.0%0.7x
2022-0114.2x₹10944 cr13.7%15.0%0.7x
2021-1215.4x₹10944 cr13.7%15.0%0.7x

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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