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GODAWARI POWER AND ISPAT LTD (GPIL)

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.74 / 100
Profitability 85Growth 35Balance 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.37 / 100
Price 33Earnings 30FII/DII 48

Passes these screensQuality CompounderDebt-light & profitableLittle growth priced in

Compare withJSW STEELTATA STEELJINDAL STEEL

Share price

Closing priceAdjusted for splits and bonus issues.

₹208.7 latest close · −18.0% over the last 90 sessions

₹200₹220₹240₹260Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹220₹240₹260Jul 3Sep 4Nov 9

₹208.7 month-end · −11.3% over 12 months

₹200₹250₹300Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹250₹300Nov '25May '26Nov '26

₹208.7 month-end · +51.9% over 3 years

₹150₹200₹250₹300Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹150₹200₹250₹300Nov '23May '25Nov '26

₹208.7 month-end · +1699.1% since Jan '19

₹0₹100₹200₹300Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹100₹200₹300Jan '19Dec '22Nov '26

52-week range ₹189.15 to ₹320.00 · 1-year volatility 35.5%

Was the rally earned?

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

Earnings helped, the multiple did not.

  • Per-share earnings added 8 points, but investors now pay less per rupee of profit (P/E 21.2x to 17.4x), which took 19 points back.
  • The share count barely moved.
Net profit growth: +8 pts. Points of the price return explained by net profit growing (or shrinking).+8 ptsNet profit growthP/E change: −19 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−19 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: −11%−11%Share priceNet profit growth: +8 pts. Points of the price return explained by net profit growing (or shrinking).+8ProfitP/E change: −19 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−19P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −11%−11%Share price
Net profit growth+8 ptsNet profit rose about 9%, which lifts the price.
P/E change-19 ptsThe P/E fell from 21.2x to 17.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+52%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 12.2x to 17.4x); per-share earnings added 8 points.
  • The share count fell 5%.
Net profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2 ptsNet profit growthP/E change: +44 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+44 ptsP/E changeShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6 ptsShare count changeShare price: +52%+52%Share priceNet profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2ProfitP/E change: +44 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+44P/EShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6SharesShare price: +52%+52%Share price
Net profit growth+2 ptsNet profit rose about 2%, which lifts the price.
P/E change+44 ptsThe P/E rose from 12.2x to 17.4x, which lifts the price.
Share count change+6 ptsShare count fell 5%, which lifts the price.
+295%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 5.8x to 17.4x); per-share earnings added 61 points.
  • The share count fell 7%.
Net profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45 ptsNet profit growthP/E change: +235 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+235 ptsP/E changeShare count change: +15 pts. Points of the price return explained by the share count changing. More shares count against the price.+15 ptsShare count changeShare price: +295%+295%Share priceNet profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45ProfitP/E change: +235 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+235P/EShare count change: +15 pts. Points of the price return explained by the share count changing. More shares count against the price.+15SharesShare price: +295%+295%Share price
Net profit growth+45 ptsNet profit rose about 23%, which lifts the price.
P/E change+235 ptsThe P/E rose from 5.8x to 17.4x, which lifts the price.
Share count change+15 ptsShare count fell 7%, 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-70.7%recovered 2020-08
1-year volatility35.5%annualised
Beta vs sector index0.933-year daily, correlation 0.49
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−65.9% 0%−20%−40%−60%2020202220242026−65.9%
Largest drawdowns

-70.7% (2019-01 peak to 2020-03 low, recovered 2020-08)

-53.0% (2022-04 peak to 2022-06 low, recovered 2023-06)

-45.8% (2021-07 peak to 2021-12 low, recovered 2022-04)

Most recent volume spikes

2026-08-13: 6.5x the 50-day median, price +6.3% 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?

17.4xP/E todayNear its historic high
Against its own history83rd percentile
CheapestMedian 9.4xDearest

Usual range 2.5x to 20.9x since 2019-01.

Against Non-Energy Minerals17.4x vs 21.8x
This company
17.4x
Sector median
21.8x

20% below the Non-Energy Minerals median.

1.5x11.3x21.1x30.9xJan '19Aug '20Mar '22Oct '23May '25Nov '261.5x11.3x21.1x30.9xJan '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

  • ROCE87thflat vs a year ago
  • Op. margin83rd▼ 5 pts vs a year ago
  • Revenue growth46th▲ 9 pts vs a year ago
  • EPS growth52nd▲ 21 pts vs a year ago
  • Debt/equity ↓81stflat vs a year ago
  • Cash cycle ↓58thflat vs a year ago
  • P/E ↓63rdflat vs a year ago
  • 12M momentum52nd▼ 37 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?

~11%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 14.6x, a holder earning 12%/yr needs earnings to grow about 11.1%/yr for 10 years, then trade at 15x.

Delivered31.8%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−20.7 ptsimplied minus delivered
Rank778thmost demanding of 856

Over time

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

0%42%83% Jan 2019Nov 2026 0%42%83% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x12.5%13.5%14.5%
15x10.1%11.1%12.1%
20x7.0%8.0%9.0%

Drag a slider to test other assumptions

Implied: 11.1%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 19%/yr (7.0 yrs)
  • Jan 2021Price implied 14%/yr; EPS has since grown 31%/yr (6.0 yrs)
  • Jan 2022Price implied 14%/yr; EPS has since grown 6%/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
₹208.70
P/E
17.4x
ROCE
21.0%
Market Cap
₹14043 cr
Revenue (TTM)
₹5807 cr
P/S
2.4x
P/B
2.4x
ROE
13.9%
Operating Margin
19.0%
Debt / Equity
0.1x
Promoter Holding
63.2%
12M Momentum
-11.3%

52-week range

₹189.15₹320.00
15% of the way from its 52-week low to its high

Price risk

1Y volatility
35.5%
Beta vs sector
1-year daily
0.91

Balance sheet & cash

Interest cover
operating profit ÷ interest
18.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.21x
Share count, 1Y
+1.6%

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance10%Within range

Other income as a share of pre-tax profit (trailing twelve months): 9.5%. 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 conversion1.21xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.21x (cash from operations ₹3,099 cr, net profit ₹2,551 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-5 daysWithin range

Debtor days are below the median of the previous three fiscal years by 5 days (9 vs 14). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress14% of fixed assetsWithin range

Capital work-in-progress is 14% 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, DIIs added 1.6 pts; FIIs added 1.3 pts.
  • The number of shareholders rose from 84,170 to 1.5 lakh (+79%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters63.3%63.2%-0.1 pts
FIIs4.7%6.0%+1.3 pts
DIIs1.5%3.1%+1.6 pts
Public and others30.6%27.7%-2.8 pts

Number of shareholders

1.5 lakhshareholders+79% since Sep '23
84k1.1L1.4L1.7L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 84,170
Dec '23: 87,013
Mar '24: 94,676
Jun '24: 1.7 lakh
Sep '24: 1.3 lakh
Dec '24: 1.4 lakh
Mar '25: 1.5 lakh
Jun '25: 1.5 lakh
Sep '25: 1.5 lakh
Dec '25: 1.5 lakh
Mar '26: 1.4 lakh
Jun '26: 1.5 lakh
 84k1.1L1.4L1.7L Sep '23Sep '24Sep '25Jun '26
Sep '23: 84,170
Dec '23: 87,013
Mar '24: 94,676
Jun '24: 1.7 lakh
Sep '24: 1.3 lakh
Dec '24: 1.4 lakh
Mar '25: 1.5 lakh
Jun '25: 1.5 lakh
Sep '25: 1.5 lakh
Dec '25: 1.5 lakh
Mar '26: 1.4 lakh
Jun '26: 1.5 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

−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 GODAWARI POWER AND ISPAT 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 −17% to +24% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+2.8%, 80% range −3.8% to +12.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DBCORP · Jan 2020: −50.1% vs market
NIITMTS · Oct 2025: −48.0% vs market
ARE&M · Feb 2021: −47.0% vs market
CARBORUNIV · Dec 2024: −36.6% vs market
TTKPRESTIG · Apr 2023: −35.0% vs market
INDOCO · Apr 2023: −31.6% vs market
RSYSTEMS · Sep 2025: −30.6% vs market
DEEPAKNTR · Feb 2025: −27.7% vs market
EXIDEIND · Jun 2020: −24.7% vs market
MASTEK · Apr 2024: −23.7% vs market
BHARATRAS · Nov 2022: −21.8% vs market
VAIBHAVGBL · May 2023: −21.7% vs market
VRLLOG · Apr 2020: −17.3% vs market
RATNAMANI · Jul 2025: −15.5% vs market
BSOFT · Jun 2022: −15.4% vs market
SHRIPISTON · Apr 2020: −12.7% vs market
CERA · Jul 2025: −11.2% vs market
DCMSHRIRAM · Dec 2022: −9.9% vs market
ACC · Jan 2023: −7.1% vs market
TCI · Apr 2023: −6.3% vs market
PRINCEPIPE · Jul 2022: −5.5% vs market
APLLTD · Aug 2024: −4.1% vs market
AHLUCONT · Apr 2020: −2.8% vs market
INDIGOPNTS · Aug 2025: −2.7% vs market
STARCEMENT · Jan 2020: −2.6% vs market
MPHASIS · Oct 2023: −0.1% vs market
MAYURUNIQ · Oct 2021: +3.9% vs market
FINPIPE · Jan 2021: +6.7% vs market
INTELLECT · Aug 2024: +6.7% vs market
CENTURYPLY · Mar 2024: +6.9% vs market
LTTS · Oct 2025: +9.8% vs market
INDGN · Oct 2025: +15.0% vs market
POLYCAB · Jul 2021: +16.4% vs market
ESCORTS · Apr 2021: +18.1% vs market
CUMMINSIND · May 2021: +20.7% vs market
FLAIR · Feb 2025: +21.9% vs market
ZENSARTECH · Sep 2024: +22.4% vs market
DHANUKA · Feb 2024: +24.6% vs market
RADICO · Apr 2022: +27.0% vs market
HSCL · Aug 2025: +37.3% vs market
ECLERX · Jun 2024: +41.7% vs market
USHAMART · Apr 2025: +46.4% vs market
RHIM · Jun 2021: +56.8% vs market
SJS · Dec 2023: +58.6% vs market
KEI · Jul 2021: +62.4% vs market
CYIENT · Jun 2022: +65.2% vs market
GODFRYPHLP · Aug 2022: +77.0% vs market
STYLAMIND · Jul 2025: +83.8% vs market
KPRMILL · Jun 2020: +92.4% vs market
RAILTEL · May 2023: +143.8% vs market
Similar setups −1.3%All companies −4.1%← 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
−1.3%
All companies' median
−4.1%
Beat the market
48% vs 45%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TCI
Transportation		 Apr 2023 17x23% −10%−23% −6%
ZENSARTECH
Technology Services		 Sep 2024 22x25% +31%−17% +22%
STARCEMENT
Producer Manufacturing		 Jan 2020 12x18% −10%−36% −3%
BSOFT
Technology Services		 Jun 2022 21x25% −12%−39% −15%
MASTEK
Technology Services		 Apr 2024 28x23% +57%−14% −24%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
USHAMART
Producer Manufacturing		 Apr 2025 21x22% −23%−34% +46%
CYIENT
Technology Services		 Jun 2022 16x20% −12%−38% +65%
DEEPAKNTR
Process Industries		 Feb 2025 30x22% −16%−40% −28%
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/S, 12-month momentum and ROCE. 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 GODAWARI POWER AND ISPAT 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.

JYOTHY LABSJYOTHYLAB
Consumer Non-Durables
74%similar
promoter holdingP/E
CIE AUTOMOTIVE INDIACIEINDIA
Producer Manufacturing
73%similar
market capdebt/equity
AIA ENGINEERINGAIAENG
Producer Manufacturing
71%similar
ROCErevenue
KRBLKRBL
Process Industries
71%similar
revenueEPS growth
EMAMIEMAMILTD
Consumer Non-Durables
69%similar
debt/equitymarket cap
MAHARASHTRA SEAMLESSMAHSEAMLES
Non-Energy Minerals
60%similar
revenueEPS growth
KALYANI STEELSKSL
Non-Energy Minerals
59%similar
EPS growthoperating margin
RATNAMANI METALS & TUBESRATNAMANI
Non-Energy Minerals
57%similar
debt/equitymarket cap

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

What changed?

30 events since Apr '23

  1. OctPriceFell 38% from the May 2026 peak to the Oct 2026 low.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPeer rankMoved into the 2nd quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
  4. AugPriceVolume reached 6.5x its 50-day median on 2026-08-13; price +6.3% that day.
  5. JunDividendDividend payout cut from 17% to 8% of profit.
  6. MayPriceVolume reached 25.4x its 50-day median on 2026-05-20; price +5.3% that day.
  7. OctPriceVolume reached 5.6x its 50-day median on 2025-10-29; price +3.5% that day.
  8. SepPriceVolume reached 32.1x its 50-day median on 2025-09-15; price +10.7% that day.
Show 22 earlier events
  1. AugPriceRegained the 2024-12 peak, 5 months after the low.
  2. JunResultsYear-on-year EPS growth turned negative.
  3. JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  4. AprValuationP/E crossed above the 90th percentile of its own history to date (15.2x).
  5. MarPriceFell 36% from the Dec 2024 peak to the Mar 2025 low.
  6. MarPriceVolume reached 11.0x its 50-day median on 2025-03-06; price +11.3% that day.
  7. DecPriceRegained the 2024-07 peak, 2 months after the low.
  8. DecPriceVolume reached 12.4x its 50-day median on 2024-12-12; price +0.6% that day.
  9. OctPriceFell 25% from the Jul 2024 peak to the Oct 2024 low.
  10. SepValuationP/E crossed above the 90th percentile of its own history to date (15.2x).
  11. SepPriceVolume reached 9.5x its 50-day median on 2024-09-24; price +5.3% that day.
  12. JunResultsYear-on-year EPS growth turned positive.
  13. JunPeer rankMoved into the 2nd quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
  14. AprPriceVolume reached 9.9x its 50-day median on 2024-04-10; price +6.6% that day.
  15. FebPriceVolume reached 6.4x its 50-day median on 2024-02-07; price +5.1% that day.
  16. JulValuationP/E crossed above the 90th percentile of its own history to date (10.1x).
  17. JulPriceVolume reached 6.7x its 50-day median on 2023-07-03; price -1.5% that day.
  18. JunResultsYear-on-year EPS growth turned negative.
  19. JunPriceRegained the 2022-04 peak, 12 months after the low.
  20. JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  21. JunPriceVolume reached 20.8x its 50-day median on 2023-06-30; price +5.4% that day.
  22. AprDebtDebt / equity halved over 12 months to 0.13x.

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
2026-1117.4x₹5807 cr13.9%21.0%0.1x
2026-1016.1x₹5807 cr13.9%21.0%0.1x
2026-0918.5x₹5807 cr13.9%21.0%0.1x
2026-0820.4x₹5380 cr13.8%21.0%0.1x
2026-0720.3x₹5380 cr13.8%21.0%0.1x
2026-0621.4x₹5380 cr13.8%21.0%0.1x
2026-0526.0x₹5238 cr15.1%23.0%0.1x
2026-0426.7x₹5238 cr15.1%23.0%0.1x
2026-0324.2x₹5238 cr15.1%23.0%0.1x
2026-0223.9x₹5397 cr15.2%23.0%0.1x
2026-0122.4x₹5397 cr15.2%23.0%0.1x
2025-1223.9x₹5397 cr15.2%23.0%0.1x
2025-1121.2x₹5357 cr15.1%23.0%0.1x
2025-1025.6x₹5357 cr15.1%23.0%0.1x
2025-0922.1x₹5357 cr15.1%23.0%0.1x
2025-0819.3x₹5376 cr16.6%23.0%0.1x
2025-0716.1x₹5376 cr16.6%23.0%0.1x
2025-0615.7x₹5376 cr16.6%23.0%0.1x
2025-0515.9x₹5438 cr18.0%29.0%0.0x
2025-0415.2x₹5438 cr18.0%29.0%0.0x
2025-0315.0x₹5438 cr18.0%29.0%0.0x
2025-0211.8x₹5449 cr19.9%29.0%0.0x
2025-0113.7x₹5449 cr19.9%29.0%0.0x
2024-1215.3x₹5449 cr19.9%29.0%0.0x
2024-1112.9x₹5472 cr22.1%29.0%0.0x
2024-1013.4x₹5472 cr22.1%29.0%0.0x
2024-0915.2x₹5472 cr22.1%29.0%0.0x
2024-0813.8x₹5456 cr20.8%29.0%0.0x
2024-0716.3x₹5456 cr20.8%29.0%0.0x
2024-0615.5x₹5456 cr20.8%29.0%0.0x
2024-0517.2x₹5745 cr20.3%27.0%0.1x
2024-0415.8x₹5745 cr20.3%27.0%0.1x
2024-0313.5x₹5745 cr20.3%27.0%0.1x
2024-0213.2x₹5745 cr20.3%27.0%0.1x
2024-0113.5x₹5745 cr20.3%27.0%0.1x
2023-1213.4x₹5745 cr20.3%27.0%0.1x
2023-1112.2x₹5745 cr20.3%27.0%0.1x
2023-1010.9x₹5745 cr20.3%27.0%0.1x
2023-0911.3x₹5745 cr20.3%27.0%0.1x
2023-0811.0x₹5745 cr20.3%27.0%0.1x
2023-0710.1x₹5745 cr20.3%27.0%0.1x
2023-069.4x₹5745 cr20.3%27.0%0.1x
2023-053.5x₹5397 cr44.3%54.0%0.1x
2023-043.4x₹5397 cr44.3%54.0%0.1x
2023-033.4x₹5397 cr44.3%54.0%0.1x
2023-023.3x₹5397 cr44.3%54.0%0.1x
2023-013.8x₹5397 cr44.3%54.0%0.1x
2022-123.6x₹5397 cr44.3%54.0%0.1x
2022-113.0x₹5397 cr44.3%54.0%0.1x
2022-102.5x₹5397 cr44.3%54.0%0.1x
2022-092.7x₹5397 cr44.3%54.0%0.1x
2022-082.8x₹5397 cr44.3%54.0%0.1x
2022-072.7x₹5397 cr44.3%54.0%0.1x
2022-062.4x₹5397 cr44.3%54.0%0.1x
2022-056.5x₹3949 cr32.2%34.0%0.4x
2022-049.2x₹3949 cr32.2%34.0%0.4x
2022-038.5x₹3949 cr32.2%34.0%0.4x
2022-027.1x₹3949 cr32.2%34.0%0.4x
2022-016.6x₹3949 cr32.2%34.0%0.4x
2021-126.1x₹3949 cr32.2%34.0%0.4x

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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