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GE VERNOVA T&D INDIA LIMITED (GVT&D)

Producer Manufacturing

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.19 / 100
Growth 21Balance sheet 17
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.59 / 100
Price 59FII/DII 58
Compare withBHARAT HEAVY ELECTRICALS LTDABB INDIA LIMITEDCG POWER AND IND SOLUTIONS LTD
Share Price
₹4020.00
P/E
514.7x
Market Cap
₹1.03L cr
Revenue (TTM)
₹4020 cr
P/S
25.6x
P/B
102.6x
ROE
19.9%
Debt / Equity
0.9x
Promoter Holding
51.0%
12M Momentum
32.4%
P/E vs its own history94th percentilesince Jan '19
P/E vs Producer Manufacturing18.1xthe sector median

52-week range

₹2523.20₹5650.00
48% of the way from its 52-week low to its high

Price risk

1Y volatility
45.0%
Beta vs sector
1-year daily
1.30

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.4x
Share count, 1Y
unchanged

Was the rally earned?

+32%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 388.9x to 514.7x); per-share earnings added 0 points.
  • The share count barely moved.
1 year P/E change: +32 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+32 pts +32% 1 year P/E change: +32 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+32 pts +32%
Net profit growth0 ptsNet profit was little changed.
P/E change+32 ptsThe P/E rose from 388.9x to 514.7x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+917%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 50.6x to 514.7x); per-share earnings added 0 points.
  • The share count barely moved.
3 years P/E change: +917 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+917 pts +917% 3 years P/E change: +917 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+917 pts +917%
Net profit growth0 ptsNet profit was little changed.
P/E change+917 ptsThe P/E rose from 50.6x to 514.7x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+3042%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 16.4x to 514.7x); per-share earnings added 0 points.
  • The share count barely moved.
5 years P/E change: +3042 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+3042 pts +3042% 5 years P/E change: +3042 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+3042 pts +3042%
Net profit growth0 ptsNet profit was little changed.
P/E change+3042 ptsThe P/E rose from 16.4x to 514.7x, 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 BHARAT HEAVY ELECTRICALS

Is it expensive against its own past and its peers?

514.7xP/E todayNear its historic high
Against its own history94th percentileMedian 27.2x; usual range 12.6x to 409.9x since 2019-01.
Against Producer Manufacturing514.7x vs 28.5xAbove the Producer Manufacturing median.
7.6x224.8x442.0x659.2xJan '19Aug '20Mar '22Oct '23May '25Oct '267.6x224.8x442.0x659.2xJan '19Aug '21Mar '24Oct '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; dashed 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

What is the price implying?

~59%annual earnings growth implied by the price

At a P/E of 514.7x, the price would imply about 58.7%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Earnings figures have not updated recently, so the company is left out of the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Producer Manufacturing The market-wide Expectations lists

What changed?

  1. Oct '26Fell 33% from the Jun 2026 peak to the Oct 2026 low.
  2. Sep '26Volume reached 5.1x its 50-day median on 2026-09-08; price +8.8% that day.
  3. Jun '26Volume reached 5.3x its 50-day median on 2026-06-29; price -1.7% that day.
  4. Nov '25Volume reached 43.3x its 50-day median on 2025-11-24; price -1.3% that day.
  5. May '25Regained the 2024-12 peak, 1 month after the low.
  6. May '25Volume reached 6.4x its 50-day median on 2025-05-27; price +6.6% that day.
  7. Apr '25Fell 40% from the Dec 2024 peak to the Apr 2025 low.
  8. Mar '25Promoter holding fell 8.4 pts to 51.0% (largest drop since 2024-12).
Show 22 earlier events
  1. Mar '25P/E crossed above the 90th percentile of its own history to date (199.6x).
  2. Dec '24Promoter holding fell 15.6 pts to 59.4%.
  3. Dec '24FII + DII holding rose 15.4 pts over 1 quarter to 32.4%.
  4. Nov '24Volume reached 7.7x its 50-day median on 2024-11-27; price -1.1% that day.
  5. Sep '24Volume reached 28.6x its 50-day median on 2024-09-20; price -2.1% that day.
  6. Jan '24Volume reached 20.6x its 50-day median on 2024-01-04; price +2.9% that day.
  7. Nov '23Volume reached 11.1x its 50-day median on 2023-11-23; price +0.9% that day.
  8. Aug '23Regained the 2019-01 peak, 39 months after the low.
  9. Aug '23Volume reached 18.8x its 50-day median on 2023-08-17; price +2.6% that day.
  10. Jul '23P/E crossed above the 90th percentile of its own history to date (32.4x).
  11. Jun '23Moved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  12. Apr '23Volume reached 87.8x its 50-day median on 2023-04-27; price +18.0% that day.
  13. Aug '22Volume reached 14.6x its 50-day median on 2022-08-12; price +3.9% that day.
  14. Jun '22Slipped to the bottom quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  15. Jan '22Volume reached 5.5x its 50-day median on 2022-01-04; price +0.3% that day.
  16. Dec '21Volume reached 5.8x its 50-day median on 2021-12-03; price -2.0% that day.
  17. Aug '21Volume reached 17.3x its 50-day median on 2021-08-26; price +8.6% that day.
  18. Jun '21Slipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  19. May '21Volume reached 21.8x its 50-day median on 2021-05-27; price +2.4% that day.
  20. Jan '21Volume reached 29.7x its 50-day median on 2021-01-04; price +14.0% that day.
  21. Dec '20Volume reached 42.8x its 50-day median on 2020-12-08; price +13.8% that day.
  22. Jul '20Volume reached 28.6x its 50-day median on 2020-07-14; price -1.6% 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

Are profits backed by cash?

3 of 3 checks are within range.
Tap a check to see how it is measured.

Other income reliance6%Within range

Other income as a share of pre-tax profit (trailing twelve months): 6.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow—Not enough data

Not enough reported data to compute this.

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (194 vs 194). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress—Not enough data

Not enough reported data to compute this.

Payable days0 days / 2 yrsWithin range

Days payable changed by 0 over two years. Bands: rise of up to 30 days; more than 30 days.

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, promoters trimmed 24.0 pts; FIIs added 22.2 pts; DIIs added 2.4 pts.
  • The number of shareholders rose from 37,443 to 1.4 lakh (+269%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters75.0%51.0%-24.0 pts
FIIs0.7%22.9%+22.2 pts
DIIs16.1%18.5%+2.4 pts
Public and others8.2%7.7%-0.5 pts

Number of shareholders

1.4 lakhshareholders+269% since Dec '23
37k71k1.0L1.4L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 37,443
Mar '24: 44,121
Jun '24: 59,130
Sep '24: 74,413
Dec '24: 87,000
Mar '25: 82,054
Jun '25: 90,663
Sep '25: 1.0 lakh
Dec '25: 1.0 lakh
Mar '26: 1.1 lakh
Jun '26: 1.4 lakh
 37k71k1.0L1.4L Dec '23Dec '24Dec '25Jun '26
Dec '23: 37,443
Mar '24: 44,121
Jun '24: 59,130
Sep '24: 74,413
Dec '24: 87,000
Mar '25: 82,054
Jun '25: 90,663
Sep '25: 1.0 lakh
Dec '25: 1.0 lakh
Mar '26: 1.1 lakh
Jun '26: 1.4 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

How rough has the ride been?

Maximum drawdown-81.7%recovered 2023-08
1-year volatility45.0%annualised
Beta vs sector index1.053-year daily, correlation 0.48
Volume spikes2last 90 sessions, 5x the 50-day median

Monthly share price

₹59₹1,756₹3,452₹5,149 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹293.60
2019-02: ₹289.10
2019-03: ₹276.10
2019-04: ₹255.05
2019-05: ₹261.15
2019-06: ₹237.05
2019-07: ₹154.80
2019-08: ₹150.55
2019-09: ₹190.10
2019-10: ₹205.45
2019-11: ₹159.50
2019-12: ₹147.20
2020-01: ₹166.85
2020-02: ₹120.50
2020-03: ₹71.90
2020-04: ₹85.30
2020-05: ₹59.15
2020-06: ₹75.20
2020-07: ₹83.40
2020-08: ₹104.20
2020-09: ₹90.10
2020-10: ₹81.10
2020-11: ₹99.25
2020-12: ₹117.20
2021-01: ₹116.40
2021-02: ₹127.85
2021-03: ₹116.30
2021-04: ₹114.95
2021-05: ₹131.80
2021-06: ₹140.50
2021-07: ₹143.25
2021-08: ₹141.20
2021-09: ₹128.60
2021-10: ₹127.95
2021-11: ₹115.70
2021-12: ₹133.65
2022-01: ₹121.90
2022-02: ₹88.45
2022-03: ₹91.65
2022-04: ₹126.75
2022-05: ₹103.70
2022-06: ₹97.65
2022-07: ₹114.65
2022-08: ₹134.90
2022-09: ₹125.00
2022-10: ₹128.05
2022-11: ₹131.05
2022-12: ₹115.35
2023-01: ₹117.90
2023-02: ₹100.70
2023-03: ₹119.25
2023-04: ₹176.20
2023-05: ₹178.15
2023-06: ₹219.30
2023-07: ₹253.40
2023-08: ₹330.70
2023-09: ₹442.65
2023-10: ₹395.25
2023-11: ₹425.95
2023-12: ₹503.35
2024-01: ₹681.90
2024-02: ₹911.40
2024-03: ₹848.25
2024-04: ₹1143.20
2024-05: ₹1360.35
2024-06: ₹1491.70
2024-07: ₹1585.05
2024-08: ₹1713.60
2024-09: ₹1681.00
2024-10: ₹1785.90
2024-11: ₹1756.20
2024-12: ₹2075.90
2025-01: ₹1787.50
2025-02: ₹1338.30
2025-03: ₹1558.75
2025-04: ₹1566.10
2025-05: ₹2241.40
2025-06: ₹2361.10
2025-07: ₹2726.80
2025-08: ₹2779.20
2025-09: ₹2960.50
2025-10: ₹3037.40
2025-11: ₹2881.40
2025-12: ₹3132.50
2026-01: ₹3230.30
2026-02: ₹3850.20
2026-03: ₹3640.40
2026-04: ₹4466.20
2026-05: ₹5148.60
2026-06: ₹4944.00
2026-07: ₹4323.30
2026-08: ₹4445.20
2026-09: ₹4201.00
2026-10: ₹4020.00
 ₹59₹1,756₹3,452₹5,149 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹293.60
2019-02: ₹289.10
2019-03: ₹276.10
2019-04: ₹255.05
2019-05: ₹261.15
2019-06: ₹237.05
2019-07: ₹154.80
2019-08: ₹150.55
2019-09: ₹190.10
2019-10: ₹205.45
2019-11: ₹159.50
2019-12: ₹147.20
2020-01: ₹166.85
2020-02: ₹120.50
2020-03: ₹71.90
2020-04: ₹85.30
2020-05: ₹59.15
2020-06: ₹75.20
2020-07: ₹83.40
2020-08: ₹104.20
2020-09: ₹90.10
2020-10: ₹81.10
2020-11: ₹99.25
2020-12: ₹117.20
2021-01: ₹116.40
2021-02: ₹127.85
2021-03: ₹116.30
2021-04: ₹114.95
2021-05: ₹131.80
2021-06: ₹140.50
2021-07: ₹143.25
2021-08: ₹141.20
2021-09: ₹128.60
2021-10: ₹127.95
2021-11: ₹115.70
2021-12: ₹133.65
2022-01: ₹121.90
2022-02: ₹88.45
2022-03: ₹91.65
2022-04: ₹126.75
2022-05: ₹103.70
2022-06: ₹97.65
2022-07: ₹114.65
2022-08: ₹134.90
2022-09: ₹125.00
2022-10: ₹128.05
2022-11: ₹131.05
2022-12: ₹115.35
2023-01: ₹117.90
2023-02: ₹100.70
2023-03: ₹119.25
2023-04: ₹176.20
2023-05: ₹178.15
2023-06: ₹219.30
2023-07: ₹253.40
2023-08: ₹330.70
2023-09: ₹442.65
2023-10: ₹395.25
2023-11: ₹425.95
2023-12: ₹503.35
2024-01: ₹681.90
2024-02: ₹911.40
2024-03: ₹848.25
2024-04: ₹1143.20
2024-05: ₹1360.35
2024-06: ₹1491.70
2024-07: ₹1585.05
2024-08: ₹1713.60
2024-09: ₹1681.00
2024-10: ₹1785.90
2024-11: ₹1756.20
2024-12: ₹2075.90
2025-01: ₹1787.50
2025-02: ₹1338.30
2025-03: ₹1558.75
2025-04: ₹1566.10
2025-05: ₹2241.40
2025-06: ₹2361.10
2025-07: ₹2726.80
2025-08: ₹2779.20
2025-09: ₹2960.50
2025-10: ₹3037.40
2025-11: ₹2881.40
2025-12: ₹3132.50
2026-01: ₹3230.30
2026-02: ₹3850.20
2026-03: ₹3640.40
2026-04: ₹4466.20
2026-05: ₹5148.60
2026-06: ₹4944.00
2026-07: ₹4323.30
2026-08: ₹4445.20
2026-09: ₹4201.00
2026-10: ₹4020.00

Last 90 trading days

₹3,700₹4,268₹4,836₹5,404 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹5404.00
2026-06-25: ₹5043.00
2026-06-30: ₹4944.00
2026-07-02: ₹4822.80
2026-07-06: ₹4554.50
2026-07-08: ₹4466.70
2026-07-10: ₹4677.10
2026-07-14: ₹4498.60
2026-07-16: ₹4584.10
2026-07-20: ₹4444.90
2026-07-22: ₹4481.50
2026-07-24: ₹4157.40
2026-07-28: ₹4124.00
2026-07-30: ₹4202.30
2026-08-03: ₹4370.00
2026-08-05: ₹4410.00
2026-08-07: ₹4299.00
2026-08-11: ₹4420.00
2026-08-13: ₹4304.70
2026-08-17: ₹4290.00
2026-08-19: ₹4100.00
2026-08-21: ₹4127.20
2026-08-25: ₹4185.00
2026-08-27: ₹4407.80
2026-08-31: ₹4445.20
2026-09-02: ₹4240.00
2026-09-04: ₹4306.30
2026-09-08: ₹4750.00
2026-09-10: ₹4545.00
2026-09-15: ₹4246.90
2026-09-17: ₹4341.00
2026-09-21: ₹4366.10
2026-09-23: ₹4417.00
2026-09-25: ₹4280.00
2026-09-29: ₹4130.30
2026-10-01: ₹4253.20
2026-10-06: ₹4245.10
2026-10-08: ₹4200.00
2026-10-12: ₹4254.00
2026-10-14: ₹4190.00
2026-10-16: ₹3959.10
2026-10-21: ₹3813.80
2026-10-23: ₹3700.00
2026-10-27: ₹3980.00
2026-10-29: ₹4091.00
2026-10-30: ₹4020.00
 ₹3,700₹4,268₹4,836₹5,404 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹5404.00
2026-06-25: ₹5043.00
2026-06-30: ₹4944.00
2026-07-02: ₹4822.80
2026-07-06: ₹4554.50
2026-07-08: ₹4466.70
2026-07-10: ₹4677.10
2026-07-14: ₹4498.60
2026-07-16: ₹4584.10
2026-07-20: ₹4444.90
2026-07-22: ₹4481.50
2026-07-24: ₹4157.40
2026-07-28: ₹4124.00
2026-07-30: ₹4202.30
2026-08-03: ₹4370.00
2026-08-05: ₹4410.00
2026-08-07: ₹4299.00
2026-08-11: ₹4420.00
2026-08-13: ₹4304.70
2026-08-17: ₹4290.00
2026-08-19: ₹4100.00
2026-08-21: ₹4127.20
2026-08-25: ₹4185.00
2026-08-27: ₹4407.80
2026-08-31: ₹4445.20
2026-09-02: ₹4240.00
2026-09-04: ₹4306.30
2026-09-08: ₹4750.00
2026-09-10: ₹4545.00
2026-09-15: ₹4246.90
2026-09-17: ₹4341.00
2026-09-21: ₹4366.10
2026-09-23: ₹4417.00
2026-09-25: ₹4280.00
2026-09-29: ₹4130.30
2026-10-01: ₹4253.20
2026-10-06: ₹4245.10
2026-10-08: ₹4200.00
2026-10-12: ₹4254.00
2026-10-14: ₹4190.00
2026-10-16: ₹3959.10
2026-10-21: ₹3813.80
2026-10-23: ₹3700.00
2026-10-27: ₹3980.00
2026-10-29: ₹4091.00
2026-10-30: ₹4020.00

Drawdown from peak

0% -41% -82% Jan '19Dec '22Oct '26 0% -41% -82% Jan '19Dec '22Oct '26
Largest drawdowns

-81.7% (2019-01 peak to 2020-05 low, recovered 2023-08)

-39.9% (2024-12 peak to 2025-04 low, recovered 2025-05)

-33.1% (2026-06 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-09-08: 5.1x the 50-day median, price +8.8% that day

2026-06-29: 5.3x the 50-day median, price -1.7% 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).

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).

Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 else looks like this?

Companies with the most similar financial profile today, regardless of industry.

CompanySectorSimilarityClosest on
PRIME FOCUS (PFOCUS)Consumer Services55%P/E, revenue
BATA INDIA (BATAINDIA)Consumer Non-Durables50%debt/equity, promoter holding
ASAHI INDIA GLASS (ASAHIINDIA)Consumer Durables49%promoter holding, revenue
GUJARAT FLUOROCHEMICALS (FLUOROCHEM)Process Industries47%revenue growth, market cap
WESTLIFE FOODWORLD (WESTLIFE)Consumer Services45%P/E, revenue
BHARAT FORGE (BHARATFORG)Producer Manufacturing42%market cap, debt/equity
DYNAMATIC TECHNOLOGIES (DYNAMATECH)Producer Manufacturing39%EPS growth, P/E
RAMKRISHNA FORGINGS (RKFORGE)Producer Manufacturing37%revenue, debt/equity

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

What happened next to similar setups

−13.3%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like GE VERNOVA T&D INDIA LIMITED today on valuation, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −27% to +6% vs the market, against −4% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −8.9%, 80% range −15.3% to −6.7%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ADANIENSOL · Oct 2022: −79.1% vs market
COOLCAPS · Oct 2025: −74.0% vs market
ATGL · Feb 2022: −56.9% vs market
ASIANTILES · Apr 2020: −41.9% vs market
UNITDSPR · Apr 2020: −39.4% vs market
TASTYBITE · May 2023: −39.4% vs market
ABREL · Nov 2024: −38.0% vs market
RESPONIND · Dec 2020: −32.4% vs market
SUNTECK · Aug 2022: −30.9% vs market
SYMPHONY · Jan 2020: −30.6% vs market
ABB · Sep 2024: −30.3% vs market
DALBHARAT · May 2021: −28.5% vs market
INDHOTEL · Jan 2020: −28.2% vs market
BATAINDIA · Jul 2022: −22.8% vs market
METROBRAND · Oct 2025: −22.8% vs market
FLUOROCHEM · Mar 2025: −22.7% vs market
SIGNATURE · Oct 2024: −22.5% vs market
BAYERCROP · May 2025: −22.3% vs market
EIHAHOTELS · Oct 2025: −21.6% vs market
FACT · Oct 2025: −19.2% vs market
GOCOLORS · Dec 2022: −17.7% vs market
JUBLFOOD · Jun 2021: −16.8% vs market
CHALET · Jul 2025: −15.3% vs market
SOBHA · Sep 2024: −13.9% vs market
APOLLOHOSP · Dec 2021: −13.8% vs market
NETWORK18 · Nov 2021: −12.9% vs market
PRESTIGE · Oct 2025: −12.6% vs market
MEDANTA · Feb 2024: −12.2% vs market
MOTILALOFS · Jul 2020: −11.6% vs market
IGARASHI · Oct 2023: −11.3% vs market
GODREJPROP · Apr 2021: −6.9% vs market
DLF · Oct 2021: −6.7% vs market
BHARTIARTL · Jan 2020: −6.3% vs market
BIOCON · Oct 2025: +0.3% vs market
ANURAS · Jul 2025: +1.2% vs market
LODHA · Mar 2024: +1.5% vs market
TRENT · May 2020: +4.3% vs market
ASTERDM · Oct 2025: +6.2% vs market
TITAN · Jul 2022: +11.3% vs market
NYKAA · Aug 2024: +20.1% vs market
PHOENIXLTD · Jan 2023: +27.3% vs market
HATSUN · Dec 2020: +29.4% vs market
GODREJIND · Jul 2024: +34.3% vs market
SOLARINDS · Aug 2024: +39.4% vs market
PTCIL · Nov 2024: +46.2% vs market
VBL · Jan 2023: +60.6% vs market
POWERINDIA · May 2024: +70.4% vs market
LINDEINDIA · Feb 2020: +75.9% vs market
LAURUSLABS · May 2025: +118.7% vs market
ADANIENT · Oct 2021: +126.8% vs market
Similar setups −13.3%All companies −4.4%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge

Similar setups' median
−13.3%
All companies' median
−4.4%
Beat the market
34% vs 45%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ADANIENSOL
Utilities		 Oct 2022 306x10% +90%−18% −79%
FACT
Process Industries		 Oct 2025 623x9% +5%−15% −19%
BHARTIARTL
Communications		 Jan 2020 659x3% +62%−5% −6%
SIGNATURE
Finance		 Oct 2024 637x1% +139%−16% −23%
ABB
Producer Manufacturing		 Sep 2024 1211x10% +97%−11% −30%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GODREJPROP
Finance		 Apr 2021 128x9% +102%−12% −7%
LODHA
Finance		 Mar 2024 225x9% +144%−7% +2%
ABREL
Finance		 Nov 2024 477x4% +118%−10% −38%
How reliable is this?

Matched on P/E, P/S, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: interest cover, 12-month momentum and volatility. Not used (unavailable for this company): ROCE and operating margin. 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 GE VERNOVA T&D INDIA 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (94 months)
MonthP/ERevenue (TTM)ROEDebt / Equity
2026-10514.7x₹4020 cr19.9%0.9x
2026-09537.9x₹4020 cr19.9%0.9x
2026-08569.2x₹4020 cr19.9%0.9x
2026-07553.6x₹4020 cr19.9%0.9x
2026-06633.0x₹4020 cr19.9%0.9x
2026-05659.2x₹4020 cr19.9%0.9x
2026-04571.9x₹4020 cr19.9%0.9x
2026-03466.1x₹4020 cr19.9%0.9x
2026-02493.0x₹4020 cr19.9%0.9x
2026-01413.6x₹4020 cr19.9%0.9x
2025-12401.1x₹4020 cr19.9%0.9x
2025-11368.9x₹4020 cr19.9%0.9x
2025-10388.9x₹4020 cr19.9%0.9x
2025-09379.1x₹4020 cr19.9%0.9x
2025-08355.9x₹4020 cr19.9%0.9x
2025-07349.1x₹4020 cr19.9%0.9x
2025-06302.3x₹4020 cr19.9%0.9x
2025-05287.0x₹4020 cr19.9%0.9x
2025-04200.5x₹4020 cr19.9%0.9x
2025-03199.6x₹4020 cr19.9%0.9x
2025-02171.4x₹4020 cr19.9%0.9x
2025-01228.9x₹4020 cr19.9%0.9x
2024-12265.8x₹4020 cr19.9%0.9x
2024-11224.9x₹4020 cr19.9%0.9x
2024-10228.7x₹4020 cr19.9%0.9x
2024-09215.2x₹4020 cr19.9%0.9x
2024-08219.4x₹4020 cr19.9%0.9x
2024-07203.0x₹4020 cr19.9%0.9x
2024-06191.0x₹4020 cr19.9%0.9x
2024-05174.2x₹4020 cr19.9%0.9x
2024-04146.4x₹4020 cr19.9%0.9x
2024-03108.6x₹4020 cr19.9%0.9x
2024-02116.7x₹4020 cr19.9%0.9x
2024-0187.3x₹4020 cr19.9%0.9x
2023-1264.4x₹4020 cr19.9%0.9x
2023-1154.5x₹4020 cr19.9%0.9x
2023-1050.6x₹4020 cr19.9%0.9x
2023-0956.7x₹4020 cr19.9%0.9x
2023-0842.3x₹4020 cr19.9%0.9x
2023-0732.4x₹4020 cr19.9%0.9x
2023-0628.1x₹4020 cr19.9%0.9x
2023-0522.8x₹4020 cr19.9%0.9x
2023-0422.6x₹4020 cr19.9%0.9x
2023-0315.3x₹4020 cr19.9%0.9x
2023-0212.9x₹4020 cr19.9%0.9x
2023-0115.1x₹4020 cr19.9%0.9x
2022-1214.8x₹4020 cr19.9%0.9x
2022-1116.8x₹4020 cr19.9%0.9x
2022-1016.4x₹4020 cr19.9%0.9x
2022-0916.0x₹4020 cr19.9%0.9x
2022-0817.3x₹4020 cr19.9%0.9x
2022-0714.7x₹4020 cr19.9%0.9x
2022-0612.5x₹4020 cr19.9%0.9x
2022-0513.3x₹4020 cr19.9%0.9x
2022-0416.2x₹4020 cr19.9%0.9x
2022-0311.7x₹4020 cr19.9%0.9x
2022-0211.3x₹4020 cr19.9%0.9x
2022-0115.6x₹4020 cr19.9%0.9x
2021-1217.1x₹4020 cr19.9%0.9x
2021-1114.8x₹4020 cr19.9%0.9x
2021-1016.4x₹4020 cr19.9%0.9x
2021-0916.5x₹4020 cr19.9%0.9x
2021-0818.1x₹4020 cr19.9%0.9x
2021-0718.3x₹4020 cr19.9%0.9x
2021-0618.0x₹4020 cr19.9%0.9x
2021-0516.9x₹4020 cr19.9%0.9x
2021-0414.7x₹4020 cr19.9%0.9x
2021-0314.9x₹4020 cr19.9%0.9x
2021-0216.4x₹4020 cr19.9%0.9x
2021-0114.9x₹4020 cr19.9%0.9x
2020-1215.0x₹4020 cr19.9%0.9x
2020-1112.7x₹4020 cr19.9%0.9x
2020-1010.4x₹4020 cr19.9%0.9x
2020-0911.5x₹4020 cr19.9%0.9x
2020-0813.3x₹4020 cr19.9%0.9x
2020-0710.7x₹4020 cr19.9%0.9x
2020-069.6x₹4020 cr19.9%0.9x
2020-057.6x₹4020 cr19.9%0.9x
2020-0410.9x₹4020 cr19.9%0.9x
2020-039.2x₹4020 cr19.9%0.9x
2020-0215.4x₹4020 cr19.9%0.9x
2020-0121.4x₹4020 cr19.9%0.9x
2019-1218.8x₹4020 cr19.9%0.9x
2019-1120.4x₹4020 cr19.9%0.9x
2019-1026.3x₹4020 cr19.9%0.9x
2019-0924.3x₹4020 cr19.9%0.9x
2019-0819.3x₹4020 cr19.9%0.9x
2019-0719.8x₹4020 cr19.9%0.9x
2019-0630.4x₹4020 cr19.9%0.9x
2019-0533.4x₹4020 cr19.9%0.9x
2019-0432.7x₹4020 cr19.9%0.9x
2019-0335.4x₹4020 cr19.9%0.9x
2019-0237.0x₹4020 cr19.9%0.9x
2019-0137.6x₹4020 cr19.9%0.9x

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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