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GREENPLY INDUSTRIES LIMITED (GREENPLY)

Producer Manufacturing · Building Products · 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.42 / 100
Profitability 43Growth 50Balance sheet 33
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.47 / 100
Price 54Earnings 62FII/DII 24
Compare withKAJARIA CERAMICSCENTURY PLYBOARDS (INDIA)INTERARCH BUILDING SOLUTIONS L

Share price

Closing priceAdjusted for splits and bonus issues.

₹269.9 latest close · −14.6% over the last 90 sessions

₹275₹300₹325Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹275₹300₹325Jul 3Sep 4Nov 9

₹269.9 month-end · −4.4% over 12 months

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

₹269.9 month-end · +37.3% over 3 years

₹200₹300₹400Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹300₹400Nov '23May '25Nov '26

₹269.9 month-end · +109.1% since Jan '19

₹100₹200₹300₹400Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹100₹200₹300₹400Jan '19Dec '22Nov '26

52-week range ₹176.42 to ₹334.40 · 1-year volatility 40.9%

Was the rally earned?

-4%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-4%).
  • The share count barely moved.
Net profit growth: +12 pts. Points of the price return explained by net profit growing (or shrinking).+12 ptsNet profit growthP/E change: −16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−16 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: −4%−4%Share priceNet profit growth: +12 pts. Points of the price return explained by net profit growing (or shrinking).+12ProfitP/E change: −16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−16P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −4%−4%Share price
Net profit growth+12 ptsNet profit rose about 13%, which lifts the price.
P/E change-16 ptsThe P/E fell from 40.5x to 34.2x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+37%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 26.4x to 34.2x); per-share earnings added 7 points.
  • The share count rose 2%.
Net profit growth: +9 pts. Points of the price return explained by net profit growing (or shrinking).+9 ptsNet profit growthP/E change: +30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+30 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +37%+37%Share priceNet profit growth: +9 pts. Points of the price return explained by net profit growing (or shrinking).+9ProfitP/E change: +30 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+30P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +37%+37%Share price
Net profit growth+9 ptsNet profit rose about 8%, which lifts the price.
P/E change+30 ptsThe P/E rose from 26.4x to 34.2x, which lifts the price.
Share count change-2 ptsShare count rose 2%, which lowers the price.
+36%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 54 points, but investors now pay less per rupee of profit (P/E 40.1x to 34.2x), which took 18 points back.
  • The share count barely moved.
Net profit growth: +56 pts. Points of the price return explained by net profit growing (or shrinking).+56 ptsNet profit growthP/E change: −18 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−18 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +36%+36%Share priceNet profit growth: +56 pts. Points of the price return explained by net profit growing (or shrinking).+56ProfitP/E change: −18 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−18P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +36%+36%Share price
Net profit growth+56 ptsNet profit rose about 61%, which lifts the price.
P/E change-18 ptsThe P/E fell from 40.1x to 34.2x, which lowers the price.
Share count change-2 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 KAJARIA CERAMICS

How rough has the ride been?

Maximum drawdown-55.6%recovered 2021-02
1-year volatility40.9%annualised
Beta vs sector index0.953-year daily, correlation 0.45
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−55.6% 0%−20%−40%−60%2020202220242026−55.6%
Largest drawdowns

-55.6% (2020-01 peak to 2020-04 low, recovered 2021-02)

-55.4% (2024-08 peak to 2026-03 low, not yet recovered)

-44.1% (2021-11 peak to 2023-02 low, recovered 2024-01)

Most recent volume spikes

2026-10-30: 11.7x the 50-day median, price -6.0% that day

2026-09-30: 5.7x the 50-day median, price +7.0% that day

2026-07-24: 8.2x the 50-day median, price -7.2% 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?

34.2xP/E todayWithin its usual range
Against its own history55th percentile
CheapestMedian 32.3xDearest

Usual range 18.4x to 44.1x since 2019-01.

Against Producer Manufacturing34.2x vs 29.6x
This company
34.2x
Sector median
29.6x

16% above the Producer Manufacturing median.

10.6x29.6x48.7x67.8xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.6x29.6x48.7x67.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE46th▲ 14 pts vs a year ago
  • Op. margin41st▲ 8 pts vs a year ago
  • Revenue growth50th▲ 5 pts vs a year ago
  • EPS growth53rd▲ 23 pts vs a year ago
  • Debt/equity ↓25thflat vs a year ago
  • Cash cycle ↓82ndflat vs a year ago
  • P/E ↓41stflat vs a year ago
  • 12M momentum52nd▲ 3 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 38.7x, a holder earning 12%/yr needs earnings to grow about 22.7%/yr for 10 years, then trade at 15x.

Delivered−3.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+25.9 ptsimplied minus delivered
Rank78thmost demanding of 856

Over time

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

-16%7%29% Jan 2019Nov 2026 -16%7%29% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.3%25.4%26.6%
15x21.6%22.7%23.8%
20x18.2%19.3%20.4%

Drag a slider to test other assumptions

Implied: 22.7%/yr

Looking back

  • Jan 2020Price implied 17%/yr; EPS has since grown 2%/yr (7.0 yrs)
  • Jan 2021Price implied 11%/yr; EPS has since grown 11%/yr (6.0 yrs)
  • Jan 2022Price implied 19%/yr; EPS has since grown 8%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹269.90
P/E
34.2x
ROCE
14.0%
Market Cap
₹3368 cr
Revenue (TTM)
₹2863 cr
P/S
1.2x
P/B
3.8x
ROE
11.0%
Operating Margin
10.0%
Debt / Equity
0.6x
Promoter Holding
51.9%
12M Momentum
-4.4%

52-week range

₹176.42₹334.40
59% of the way from its 52-week low to its high

Price risk

1Y volatility
40.9%
Beta vs sector
1-year daily
0.89

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.29x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance-9%Within range

Other income as a share of pre-tax profit (trailing twelve months): -8.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 29.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.29xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.29x (cash from operations ₹577 cr, net profit ₹252 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+7 daysWithin range

Debtor days are above the median of the previous three fiscal years by 7 days (54 vs 47). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+9 days / 2 yrsWithin range

Days payable changed by +9 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 2.4 pts; DIIs trimmed 1.0 pts.
  • The number of shareholders rose from 49,204 to 52,337 (+6%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters52.1%51.9%-0.2 pts
FIIs2.1%4.4%+2.4 pts
DIIs32.4%31.4%-1.0 pts
Public and others13.4%12.2%-1.2 pts

Number of shareholders

52,337shareholders+6% since Sep '23
46k49k51k54k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 49,204
Dec '23: 46,179
Mar '24: 51,375
Jun '24: 48,073
Sep '24: 54,007
Dec '24: 52,918
Mar '25: 53,465
Jun '25: 53,182
Sep '25: 52,563
Dec '25: 52,376
Mar '26: 53,767
Jun '26: 52,337
 46k49k51k54k Sep '23Sep '24Sep '25Jun '26
Sep '23: 49,204
Dec '23: 46,179
Mar '24: 51,375
Jun '24: 48,073
Sep '24: 54,007
Dec '24: 52,918
Mar '25: 53,465
Jun '25: 53,182
Sep '25: 52,563
Dec '25: 52,376
Mar '26: 53,767
Jun '26: 52,337

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

−1.9%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 GREENPLY INDUSTRIES 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 −35% to +27% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+1.8%, 80% range −6.9% to +8.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
CAMLINFINE · Aug 2023: −57.6% vs market
CEATLTD · Feb 2021: −48.9% vs market
HUHTAMAKI · Oct 2020: −46.0% vs market
NILKAMAL · May 2023: −44.1% vs market
NACLIND · Feb 2023: −43.7% vs market
SHK · Aug 2025: −43.5% vs market
KOLTEPATIL · Sep 2023: −42.3% vs market
FILATEX · May 2022: −40.1% vs market
TVSSRICHAK · Nov 2023: −39.6% vs market
EMIL · Aug 2024: −39.5% vs market
DOLLAR · Nov 2024: −36.2% vs market
HERITGFOOD · Feb 2020: −35.7% vs market
ALICON · Aug 2024: −35.6% vs market
EPL · Jul 2023: −32.8% vs market
AARTIDRUGS · Aug 2023: −30.9% vs market
BLKASHYAP · Jun 2024: −28.0% vs market
SOMANYCERA · Feb 2022: −26.3% vs market
TCI · Mar 2020: −24.2% vs market
EVEREADY · Oct 2025: −13.6% vs market
GREENLAM · Mar 2024: −10.0% vs market
PNGJL · Oct 2025: −8.9% vs market
BAJAJELEC · Jul 2021: −8.6% vs market
GLOBUSSPR · Sep 2024: −8.2% vs market
SUPRAJIT · Feb 2025: −7.7% vs market
GOKEX · Jul 2024: −6.2% vs market
GODREJAGRO · Aug 2024: +2.4% vs market
RAJRATAN · Oct 2025: +3.9% vs market
MMFL · Nov 2021: +4.1% vs market
LUMAXTECH · Apr 2024: +7.2% vs market
ISGEC · May 2024: +7.4% vs market
SUBROS · Feb 2020: +7.7% vs market
SANSERA · Oct 2022: +7.9% vs market
ARVINDFASN · Jul 2024: +15.6% vs market
BANARISUG · Feb 2022: +16.9% vs market
ORIENTCEM · Mar 2021: +17.8% vs market
DYNAMATECH · Jan 2025: +18.3% vs market
WELSPUNLIV · Feb 2020: +23.1% vs market
LUMAXIND · Oct 2022: +28.4% vs market
PURVA · Nov 2020: +29.8% vs market
MINDACORP · Mar 2023: +30.7% vs market
CRAFTSMAN · Apr 2022: +40.1% vs market
ARTEMISMED · Jun 2024: +40.5% vs market
GANECOS · Jun 2022: +50.4% vs market
NRBBEARING · Aug 2022: +51.2% vs market
ARVIND · Jun 2025: +66.1% vs market
MMP · Oct 2025: +66.5% vs market
THANGAMAYL · Sep 2022: +71.7% vs market
HIKAL · Jan 2021: +81.6% vs market
KIRLOSENG · Oct 2022: +90.0% vs market
JBMA · Aug 2021: +108.2% vs market
Similar setups −1.9%All companies −3.7%← 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
−1.9%
All companies' median
−3.7%
Beat the market
50% vs 46%

50 past situations · 50 companies · 37 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ORIENTCEM
Non-Energy Minerals		 Mar 2021 23x11% +119%−12% +18%
NACLIND
Process Industries		 Feb 2023 24x15% +13%−21% −44%
TVSSRICHAK
Consumer Durables		 Nov 2023 47x9% +50%−5% −40%
JBMA
Producer Manufacturing		 Aug 2021 44x9% +96%−14% +108%
SUPRAJIT
Producer Manufacturing		 Feb 2025 40x12% −6%−35% −8%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GOKEX
Consumer Non-Durables		 Jul 2024 45x11% +80%−4% −6%
SOMANYCERA
Producer Manufacturing		 Feb 2022 55x12% +69%−22% −26%
AARTIDRUGS
Health Technology		 Aug 2023 32x15% +33%−6% −31%
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 size. 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 GREENPLY INDUSTRIES 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.

TVS SRICHAKRATVSSRICHAK
Consumer Durables
68%similar
market capP/E
GLOBUS SPIRITSGLOBUSSPR
Consumer Non-Durables
66%similar
operating marginrevenue
GREENLAM INDUSTRIESGREENLAM
Non-Energy Minerals
66%similar
operating marginrevenue
V MART RETAILVMART
Retail Trade
66%similar
ROCErevenue growth
GRM OVERSEASGRMOVER
Process Industries
64%similar
ROCEdebt/equity
ALICON CASTALLOYALICON
Producer Manufacturing
69%similar
debt/equityvolatility
RANE HOLDINGSRANEHOLDIN
Producer Manufacturing
69%similar
revenue growthvolatility
SUPRAJIT ENGINEERINGSUPRAJIT
Producer Manufacturing
66%similar
P/EROCE

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

What changed?

30 events since Dec '23

  1. OctPriceVolume reached 11.7x its 50-day median on 2026-10-30; price -6.0% that day.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  4. JulPriceVolume reached 8.2x its 50-day median on 2026-07-24; price -7.2% that day.
  5. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  6. AprValuationP/E crossed above the 90th percentile of its own history to date (44.3x).
  7. AprPriceVolume reached 348.6x its 50-day median on 2026-04-29; price +11.7% that day.
  8. MarPriceFell 55% from the Aug 2024 peak to the Mar 2026 low.
Show 22 earlier events
  1. MarPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  2. FebPriceVolume reached 8.1x its 50-day median on 2026-02-27; price -1.2% that day.
  3. DecPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  4. DecPriceVolume reached 20.2x its 50-day median on 2025-12-26; price +2.4% that day.
  5. SepResultsYear-on-year EPS growth turned negative.
  6. SepPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  7. SepPriceVolume reached 16.4x its 50-day median on 2025-09-11; price +9.1% that day.
  8. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  9. AprPriceVolume reached 5.8x its 50-day median on 2025-04-29; price +4.5% that day.
  10. MarPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  11. NovPriceVolume reached 7.3x its 50-day median on 2024-11-05; price +8.1% that day.
  12. SepResultsYear-on-year EPS growth turned positive.
  13. SepPeer rankMoved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  14. AugPriceVolume reached 16.2x its 50-day median on 2024-08-01; price +4.8% that day.
  15. JunResultsRevenue (TTM) reached a new high of ₹2,180 cr.
  16. JunValuationP/E crossed above the 90th percentile of its own history to date (56.2x).
  17. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  18. JunDebtDebt / equity fell below 1.0x (0.77x).
  19. JunPriceVolume reached 10.1x its 50-day median on 2024-06-18; price +9.3% that day.
  20. FebPriceVolume reached 14.9x its 50-day median on 2024-02-26; price +10.7% that day.
  21. JanPriceRegained the 2021-11 peak, 11 months after the low.
  22. DecPriceVolume reached 23.3x its 50-day median on 2023-12-19; price +13.8% 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
2026-1134.2x₹2863 cr11.0%14.0%0.6x
2026-1035.8x₹2863 cr11.1%14.0%0.6x
2026-0938.0x₹2863 cr11.1%14.0%0.6x
2026-0840.5x₹2739 cr10.0%14.0%0.6x
2026-0739.7x₹2739 cr10.0%14.0%0.6x
2026-0641.4x₹2739 cr10.0%14.0%0.6x
2026-0541.1x₹2612 cr9.3%12.0%0.6x
2026-0444.3x₹2612 cr9.3%12.0%0.6x
2026-0329.9x₹2612 cr9.3%12.0%0.6x
2026-0232.3x₹2553 cr10.5%12.0%0.6x
2026-0132.9x₹2553 cr10.5%12.0%0.6x
2025-1239.2x₹2553 cr10.5%12.0%0.6x
2025-1140.5x₹2504 cr10.8%12.0%0.6x
2025-1043.8x₹2504 cr10.8%12.0%0.6x
2025-0943.2x₹2504 cr10.8%12.0%0.6x
2025-0841.9x₹2487 cr11.4%12.0%0.6x
2025-0743.7x₹2487 cr11.4%12.0%0.6x
2025-0642.6x₹2487 cr11.4%12.0%0.6x
2025-0538.8x₹2438 cr14.5%11.0%0.8x
2025-0434.8x₹2438 cr14.5%11.0%0.8x
2025-0334.3x₹2438 cr14.5%11.0%0.8x
2025-0231.9x₹2406 cr15.0%11.0%0.8x
2025-0132.8x₹2406 cr15.0%11.0%0.8x
2024-1236.0x₹2406 cr15.0%11.0%0.8x
2024-1141.0x₹2334 cr14.4%11.0%0.8x
2024-1042.1x₹2334 cr14.4%11.0%0.8x
2024-0946.2x₹2334 cr14.4%11.0%0.8x
2024-0867.8x₹2180 cr9.9%11.0%0.8x
2024-0762.8x₹2180 cr9.9%11.0%0.8x
2024-0656.2x₹2180 cr9.9%11.0%0.8x
2024-0534.3x₹1663 cr14.1%11.0%1.1x
2024-0434.5x₹1663 cr14.1%11.0%1.1x
2024-0331.1x₹1663 cr14.1%11.0%1.1x
2024-0235.3x₹1663 cr14.1%11.0%1.1x
2024-0133.1x₹1663 cr14.1%11.0%1.1x
2023-1232.1x₹1663 cr14.1%11.0%1.1x
2023-1126.4x₹1663 cr14.1%11.0%1.1x
2023-1021.7x₹1663 cr14.1%11.0%1.1x
2023-0922.1x₹1663 cr14.1%11.0%1.1x
2023-0821.7x₹1663 cr14.1%11.0%1.1x
2023-0722.7x₹1663 cr14.1%11.0%1.1x
2023-0624.0x₹1663 cr14.1%11.0%1.1x
2023-0520.2x₹1563 cr17.7%18.0%0.6x
2023-0418.7x₹1563 cr17.7%18.0%0.6x
2023-0318.0x₹1563 cr17.7%18.0%0.6x
2023-0217.5x₹1563 cr17.7%18.0%0.6x
2023-0118.2x₹1563 cr17.7%18.0%0.6x
2022-1218.7x₹1563 cr17.7%18.0%0.6x
2022-1121.0x₹1563 cr17.7%18.0%0.6x
2022-1022.4x₹1563 cr17.7%18.0%0.6x
2022-0923.3x₹1563 cr17.7%18.0%0.6x
2022-0824.4x₹1563 cr17.7%18.0%0.6x
2022-0723.6x₹1563 cr17.7%18.0%0.6x
2022-0622.1x₹1563 cr17.7%18.0%0.6x
2022-0535.7x₹1165 cr14.0%15.0%0.5x
2022-0442.5x₹1165 cr14.0%15.0%0.5x
2022-0344.2x₹1165 cr14.0%15.0%0.5x
2022-0234.9x₹1165 cr14.0%15.0%0.5x
2022-0141.1x₹1165 cr14.0%15.0%0.5x
2021-1241.5x₹1165 cr14.0%15.0%0.5x

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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