GUJARAT MINERAL DEVELOPMENT CO (GMDCLTD): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹478.25 latest close · −20.7% over the last 90 sessions

₹478.25 month-end · −11.3% over 12 months

₹478.25 month-end · +16.2% over 3 years

₹478.25 month-end · +461.3% since Jan '19

52-week range ₹394.55 to ₹771.90 · 1-year volatility 46.7%

Was the rally earned?

1 year3 years

-11%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 34 points, but investors now pay less per rupee of profit (P/E 25.8x to 15.9x), which took 45 points back.
The share count barely moved.

Net profit growth+34 ptsNet profit rose about 43%, which lifts the price.

P/E change-45 ptsThe P/E fell from 25.8x to 15.9x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

+16%share price, 3 yearsMultiple-driven

Partly.

Most of the rise came from investors paying a higher multiple (P/E 10.9x to 15.9x); per-share earnings took off 25 points.
The share count barely moved.

Net profit growth-25 ptsNet profit fell about 21%, which lowers the price.

P/E change+41 ptsThe P/E rose from 10.9x to 15.9x, 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.

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 COAL INDIA

How rough has the ride been?

Maximum drawdown-67.4%recovered 2022-01

1-year volatility46.7%annualised

Beta vs sector index1.093-year daily, correlation 0.44

Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-67.4% (2019-03 peak to 2020-03 low, recovered 2022-01)

-51.9% (2024-02 peak to 2025-03 low, recovered 2025-09)

-44.9% (2026-04 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-11-04: 37.2x the 50-day median, price +10.2% that day

2026-10-30: 5.4x the 50-day median, price -6.2% that day

2026-09-10: 5.7x the 50-day median, price +1.0% 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?

15.9xP/E todayWithin its usual range

Against its own history70th percentile

CheapestMedian 11.2xDearest

Usual range 7.4x to 20.2x since 2019-01.

Against Energy Minerals15.9x vs 12.7x

This company

15.9x

Sector median

12.7x

25% above the Energy Minerals median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Energy Minerals peers?

Each cell is the company's percentile rank among its 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

ROCE34th▼ 23 pts vs a year ago
Op. margin70th▼ 9 pts vs a year ago
Revenue growth21st▼ 49 pts vs a year ago
EPS growth71st▼ 4 pts vs a year ago
Debt/equity ↓86th▼ 10 pts vs a year ago
Cash cycle ↓92nd▲ 14 pts vs a year ago
P/E ↓32ndflat vs a year ago
12M momentum38th▼ 57 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 Energy Minerals sector page Watch it move against 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 19.6x, a holder earning 12%/yr needs earnings to grow about 12.9%/yr for 10 years, then trade at 15x.

Delivered14.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−1.1 ptsimplied minus delivered

Rank553rdmost demanding of 856

Over time

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

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	14.1%	15.1%	16.2%
15x	11.9%	12.9%	13.9%
20x	9.0%	10.0%	11.0%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 12.9%/yr

Looking back

Jan 2020Price implied −1%/yr; EPS has since grown 23%/yr (7.0 yrs)
Jan 2021Price implied 1%/yr; EPS has since grown 37%/yr (6.0 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 Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹478.25
P/E: 15.9x
ROCE: 11.0%
Market Cap: ₹15195 cr
Revenue (TTM): ₹2828 cr
P/S: 5.4x
P/B: 2.1x
ROE: 13.5%
Operating Margin: 21.0%
Debt / Equity: 0.0x
Promoter Holding: 74.0%
12M Momentum: -11.3%

52-week range

₹394.55₹771.90

22% of the way from its 52-week low to its high

Price risk

1Y volatility

46.7%

Beta vs sector

1-year daily

0.90

Balance sheet & cash

Interest cover

operating profit ÷ interest

91.8x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.86x

Share count, 1Y

unchanged

Are profits backed by cash?

3 of 6checks within range2 beyond a threshold

Other income reliance74%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 74.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.86xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.86x (cash from operations ₹1,920 cr, net profit ₹2,234 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-5 daysWithin range

Debtor days are below the median of the previous three fiscal years by 5 days (10 vs 15). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress62% of fixed assetsBeyond threshold

Capital work-in-progress is 62% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

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, FIIs added 1.9 pts.
The number of shareholders rose from 1.8 lakh to 2.5 lakh (+39%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters74.0%74.0%0.0 pts

FIIs1.8%3.7%+1.9 pts

DIIs0.9%0.8%-0.1 pts

Public and others23.3%21.5%-1.8 pts

Number of shareholders

2.5 lakhshareholders+39% since Dec '23

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

−1.2%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 GUJARAT MINERAL DEVELOPMENT CO 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 −21% to +19% vs the market, against −7% for all non-financial companies in the same months.
The gap against the base rate (+5.4%, 80% range −4.0% to +8.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median

−1.2%

All companies' median

−6.6%

Beat the market

44% vs 43%

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

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
JUSTDIAL Technology Services	Jun 2025	22x	5%	−10%	−31%	−44%
ADVENZYMES Consumer Non-Durables	Aug 2025	30x	13%	−22%	−37%	−21%
SANOFI Health Technology	Sep 2024	30x	—	+9%	−22%	−29%
FINPIPE Producer Manufacturing	Sep 2024	20x	11%	+24%	−21%	−22%
BHARATRAS Process Industries	May 2025	21x	12%	−15%	−34%	−37%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
NOCIL Process Industries	Jun 2020	11x	13%	−29%	−33%	+60%
SASKEN Technology Services	Aug 2024	30x	12%	+69%	−15%	0%
JYOTHYLAB Consumer Non-Durables	May 2024	42x	18%	+91%	−27%	−18%

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, debt/equity and drawdown from 12-month high. 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 GUJARAT MINERAL DEVELOPMENT CO. 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

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.

MAITHAN ALLOYSMAITHANALL

Non-Energy Minerals

58%similar

revenue growthdebt/equity

RELAXO FOOTWEARSRELAXO

Consumer Non-Durables

57%similar

ROCErevenue

KRBLKRBL

Process Industries

56%similar

operating margindebt/equity

WEST COAST PAPER MILLSWSTCSTPAPR

Producer Manufacturing

56%similar

revenue growthoperating margin

EPIGRALEPIGRAL

Process Industries

55%similar

EPS growthrevenue

IRM ENERGYIRMENERGY

Energy Minerals

32%similar

EPS growthvolatility

CHENNAI PETROLEUM CORPORATIONCHENNPETRO

Energy Minerals

22%similar

market caprevenue growth

OIL INDIAOIL

Energy Minerals

22%similar

ROCEEPS growth

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

What changed?

30 events since Aug '23

2026
NovPriceVolume reached 37.2x its 50-day median on 2026-11-04; price +10.2% that day.
OctPriceFell 45% from the Apr 2026 peak to the Oct 2026 low.
SepPriceVolume reached 5.7x its 50-day median on 2026-09-10; price +1.0% that day.
JunPeer rankSlipped to the 3rd quartile of Energy Minerals on ROCE (from the 2nd quartile).
AprPriceRegained the 2025-10 peak, 5 months after the low.
AprValuationP/E crossed above the 90th percentile of its own history to date (23.7x).
AprPriceVolume reached 19.2x its 50-day median on 2026-04-16; price +20.0% that day.
MarPeer rankSlipped to the 2nd quartile of Energy Minerals on EPS growth (from the top quartile).

Show 22 earlier events

2026
MarPriceVolume reached 11.3x its 50-day median on 2026-03-20; price +7.8% that day.
2025
DecPeer rankSlipped to the 2nd quartile of Energy Minerals on operating margin (from the top quartile).
NovPriceFell 26% from the Oct 2025 peak to the Nov 2025 low.
NovPriceVolume reached 12.0x its 50-day median on 2025-11-27; price +4.7% that day.
SepPriceRegained the 2024-02 peak, 6 months after the low.
JulPriceVolume reached 34.1x its 50-day median on 2025-07-18; price +14.7% that day.
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the 2nd quartile of Energy Minerals on ROCE (from the 3rd quartile).
MayValuationP/E crossed above the 90th percentile of its own history to date (17.6x).
AprPriceVolume reached 20.3x its 50-day median on 2025-04-16; price +9.8% that day.
MarPriceFell 52% from the Feb 2024 peak to the Mar 2025 low.
MarPeer rankSlipped to the 2nd quartile of Energy Minerals on operating margin (from the top quartile).
JanPriceVolume reached 42.0x its 50-day median on 2025-01-16; price +11.7% that day.
2024
OctPriceVolume reached 24.1x its 50-day median on 2024-10-23; price +8.3% that day.
JulPriceVolume reached 10.7x its 50-day median on 2024-07-08; price +5.1% that day.
JunResultsYear-on-year EPS growth turned negative.
JunValuationP/E crossed above the 90th percentile of its own history to date (20.9x).
JunPeer rankSlipped to the 3rd quartile of Energy Minerals on ROCE (from the top quartile).
AprPriceVolume reached 6.4x its 50-day median on 2024-04-10; price +4.0% that day.
JanValuationP/E crossed above the 90th percentile of its own history to date (12.1x).
2023
OctPriceVolume reached 9.8x its 50-day median on 2023-10-10; price +19.7% that day.
AugPriceRegained the 2022-04 peak, 5 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 history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	15.9x	₹2828 cr	13.5%	11.0%	0.0x
2026-10	13.7x	₹2828 cr	13.5%	11.0%	0.0x
2026-09	16.9x	₹2828 cr	13.5%	11.0%	0.0x
2026-08	18.7x	₹2654 cr	13.5%	11.0%	0.0x
2026-07	18.8x	₹2654 cr	13.5%	11.0%	0.0x
2026-06	19.4x	₹2654 cr	13.5%	11.0%	0.0x
2026-05	21.6x	₹2626 cr	15.4%	14.0%	0.0x
2026-04	23.7x	₹2626 cr	15.4%	14.0%	0.0x
2026-03	18.2x	₹2626 cr	15.4%	14.0%	0.0x
2026-02	18.0x	₹2700 cr	15.6%	14.0%	0.0x
2026-01	18.3x	₹2700 cr	15.6%	14.0%	0.0x
2025-12	19.0x	₹2700 cr	15.6%	14.0%	0.0x
2025-11	25.8x	₹2765 cr	10.3%	14.0%	0.0x
2025-10	28.4x	₹2765 cr	10.3%	14.0%	0.0x
2025-09	28.6x	₹2765 cr	10.3%	14.0%	0.0x
2025-08	18.7x	₹2850 cr	10.6%	14.0%	0.0x
2025-07	18.3x	₹2850 cr	10.6%	14.0%	0.0x
2025-06	19.1x	₹2850 cr	10.6%	14.0%	0.0x
2025-05	17.6x	₹2814 cr	10.6%	13.0%	0.0x
2025-04	15.0x	₹2814 cr	10.6%	13.0%	0.0x
2025-03	13.0x	₹2814 cr	10.6%	13.0%	0.0x
2025-02	12.5x	₹2725 cr	10.1%	13.0%	0.0x
2025-01	16.6x	₹2725 cr	10.1%	13.0%	0.0x
2024-12	16.6x	₹2725 cr	10.1%	13.0%	0.0x
2024-11	19.5x	₹2515 cr	9.2%	13.0%	0.0x
2024-10	20.9x	₹2515 cr	9.2%	13.0%	0.0x
2024-09	20.3x	₹2515 cr	9.2%	13.0%	0.0x
2024-08	19.7x	₹2463 cr	9.8%	13.0%	0.0x
2024-07	21.3x	₹2463 cr	9.8%	13.0%	0.0x
2024-06	20.9x	₹2463 cr	9.8%	13.0%	0.0x
2024-05	10.4x	₹3498 cr	20.8%	31.0%	0.0x
2024-04	11.1x	₹3498 cr	20.8%	31.0%	0.0x
2024-03	9.1x	₹3498 cr	20.8%	31.0%	0.0x
2024-02	10.3x	₹3498 cr	20.8%	31.0%	0.0x
2024-01	12.1x	₹3498 cr	20.8%	31.0%	0.0x
2023-12	10.7x	₹3498 cr	20.8%	31.0%	0.0x
2023-11	10.9x	₹3498 cr	20.8%	31.0%	0.0x
2023-10	9.4x	₹3498 cr	20.8%	31.0%	0.0x
2023-09	8.4x	₹3498 cr	20.8%	31.0%	0.0x
2023-08	6.6x	₹3498 cr	20.8%	31.0%	0.0x
2023-07	4.8x	₹3498 cr	20.8%	31.0%	0.0x
2023-06	4.4x	₹3498 cr	20.8%	31.0%	0.0x
2023-05	12.0x	₹2732 cr	9.2%	18.0%	0.0x
2023-04	11.2x	₹2732 cr	9.2%	18.0%	0.0x
2023-03	9.0x	₹2732 cr	9.2%	18.0%	0.0x
2023-02	9.5x	₹2732 cr	9.2%	18.0%	0.0x
2023-01	10.1x	₹2732 cr	9.2%	18.0%	0.0x
2022-12	10.5x	₹2732 cr	9.2%	18.0%	0.0x
2022-11	11.2x	₹2732 cr	9.2%	18.0%	0.0x
2022-10	10.1x	₹2732 cr	9.2%	18.0%	0.0x
2022-09	9.7x	₹2732 cr	9.2%	18.0%	0.0x
2022-08	11.9x	₹2732 cr	9.2%	18.0%	0.0x
2022-07	11.5x	₹2732 cr	9.2%	18.0%	0.0x
2022-06	9.6x	₹2732 cr	9.2%	18.0%	0.0x
2022-05	—	₹1329 cr	-0.9%	1.0%	0.0x
2022-04	—	₹1329 cr	-0.9%	1.0%	0.0x
2022-03	—	₹1329 cr	-0.9%	1.0%	0.0x
2022-02	—	₹1329 cr	-0.9%	1.0%	0.0x
2022-01	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-12	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-11	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-10	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-09	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-08	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-07	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-06	—	₹1329 cr	-0.9%	1.0%	0.0x
2021-05	15.9x	₹1449 cr	3.6%	5.0%	0.0x
2021-04	12.8x	₹1449 cr	3.6%	5.0%	0.0x
2021-03	12.0x	₹1449 cr	3.6%	5.0%	0.0x
2021-02	13.5x	₹1449 cr	3.6%	5.0%	0.0x
2021-01	11.9x	₹1449 cr	3.6%	5.0%	0.0x
2020-12	11.4x	₹1449 cr	3.6%	5.0%	0.0x
2020-11	10.2x	₹1449 cr	3.6%	5.0%	0.0x
2020-10	9.3x	₹1449 cr	3.6%	5.0%	0.0x
2020-09	9.1x	₹1449 cr	3.6%	5.0%	0.0x
2020-08	10.0x	₹1449 cr	3.6%	5.0%	0.0x
2020-07	8.9x	₹1449 cr	3.6%	5.0%	0.0x
2020-06	8.7x	₹1449 cr	3.6%	5.0%	0.0x
2020-05	5.5x	₹1880 cr	5.1%	14.0%	0.0x
2020-04	5.7x	₹1880 cr	5.1%	14.0%	0.0x
2020-03	4.6x	₹1880 cr	5.1%	14.0%	0.0x
2020-02	7.4x	₹1880 cr	5.1%	14.0%	0.0x
2020-01	8.9x	₹1880 cr	5.1%	14.0%	0.0x
2019-12	8.9x	₹1880 cr	5.1%	14.0%	0.0x
2019-11	8.4x	₹1880 cr	5.1%	14.0%	0.0x
2019-10	9.2x	₹1880 cr	5.1%	14.0%	0.0x
2019-09	8.9x	₹1880 cr	5.1%	14.0%	0.0x
2019-08	9.3x	₹1880 cr	5.1%	14.0%	0.0x
2019-07	10.3x	₹1880 cr	5.1%	14.0%	0.0x
2019-06	10.9x	₹1880 cr	5.1%	14.0%	0.0x
2019-05	7.4x	₹2051 cr	8.0%	11.0%	0.0x
2019-04	6.8x	₹2051 cr	8.0%	11.0%	0.0x
2019-03	7.5x	₹2051 cr	8.0%	11.0%	0.0x
2019-02	7.1x	₹2051 cr	8.0%	11.0%	0.0x
2019-01	7.8x	₹2051 cr	8.0%	11.0%	0.0x

Methodology and data notes