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HAPPIEST MINDS TECHNOLOGIES (HAPPSTMNDS)

Technology Services · Data Processing Services · 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.37 / 100
Profitability 54Growth 45Balance sheet 11
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.23 / 100
Price 11Earnings 52FII/DII 6
Compare withSAGILITYPINE LABSCOMPUTER AGE MANAGEMENT SERV

Share price

Closing priceAdjusted for splits and bonus issues.

₹313.2 latest close · −10.5% over the last 90 sessions

₹300₹350₹400₹450Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹300₹350₹400₹450Jul 3Sep 4Nov 9

₹313.2 month-end · −37.2% over 12 months

₹300₹400₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹300₹400₹500Nov '25May '26Nov '26

₹313.2 month-end · −62.6% over 3 years

₹400₹600₹800Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600₹800Nov '23May '25Nov '26

₹313.2 month-end · −10.2% since Sep '20

₹500₹1,000₹1,500Sep '20Dec '21Mar '23May '24Aug '25Nov '26 ₹500₹1,000₹1,500Sep '20Oct '23Nov '26

52-week range ₹295.10 to ₹519.90 · 1-year volatility 40.0%

Was the rally earned?

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

Earnings helped, the multiple did not.

  • Per-share earnings added 13 points, but investors now pay less per rupee of profit (P/E 39.8x to 21.4x), which took 50 points back.
  • 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: −50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−50 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −37%−37%Share priceNet profit growth: +12 pts. Points of the price return explained by net profit growing (or shrinking).+12ProfitP/E change: −50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−50P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −37%−37%Share price
Net profit growth+12 ptsNet profit rose about 17%, which lifts the price.
P/E change-50 ptsThe P/E fell from 39.8x to 21.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-63%share price, 3 yearsMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 53.2x to 21.4x); per-share earnings took off 4 points.
  • The share count rose 4%.
Net profit growth: −2 pts. Points of the price return explained by net profit growing (or shrinking).−2 ptsNet profit growthP/E change: −58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−58 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: −63%−63%Share priceNet profit growth: −2 pts. Points of the price return explained by net profit growing (or shrinking).−2ProfitP/E change: −58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−58P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −63%−63%Share price
Net profit growth-2 ptsNet profit fell about 4%, which lowers the price.
P/E change-58 ptsThe P/E fell from 53.2x to 21.4x, which lowers the price.
Share count change-2 ptsShare count rose 4%, which lowers the price.
-74%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 16 points, but investors now pay less per rupee of profit (P/E 109.0x to 21.4x), which took 89 points back.
  • The share count rose 4%.
Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsNet profit growthP/E change: −89 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−89 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: −74%−74%Share priceNet profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18ProfitP/E change: −89 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−89P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −74%−74%Share price
Net profit growth+18 ptsNet profit rose about 38%, which lifts the price.
P/E change-89 ptsThe P/E fell from 109.0x to 21.4x, which lowers the price.
Share count change-2 ptsShare count rose 4%, which lowers 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 SAGILITY

How rough has the ride been?

Maximum drawdown-80.5%not yet recovered
1-year volatility40.0%annualised
Beta vs sector index0.673-year daily, correlation 0.40
Volume spikes9last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%202120222023202420252026−80.5% 0%−25%−50%−75%20232025−80.5%
Largest drawdowns

-80.5% (2021-07 peak to 2026-10 low, not yet recovered)

-16.8% (2020-09 peak to 2020-10 low, recovered 2021-01)

-15.3% (2021-05 peak to 2021-05 low, recovered 2021-05)

Most recent volume spikes

2026-09-01: 15.6x the 50-day median, price -10.9% that day

2026-08-21: 8.3x the 50-day median, price +7.3% that day

2026-08-14: 10.1x the 50-day median, price +6.4% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

21.4xP/E todayNear its historic low
Against its own history4th percentile
CheapestMedian 50.1xDearest

Usual range 24.2x to 93.6x since 2020-09.

Against Technology Services21.4x vs 21.1x
This company
21.4x
Sector median
21.1x

Close to the Technology Services median.

15.0x53.0x91.1x129.1xSep '20Dec '21Mar '23Jun '24Sep '25Nov '2615.0x53.0x91.1x129.1xSep '20Oct '22Nov '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

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

The chart loads when you open this tab.

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

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services 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

  • ROCE42nd▼ 4 pts vs a year ago
  • Op. margin66th▲ 9 pts vs a year ago
  • Revenue growth48th▼ 27 pts vs a year ago
  • EPS growth61st▲ 33 pts vs a year ago
  • Debt/equity ↓6thflat vs a year ago
  • Cash cycle ↓62ndflat vs a year ago
  • P/E ↓48th▲ 12 pts vs a year ago
  • 12M momentum24th▼ 10 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~14%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 22.5x, a holder earning 12%/yr needs earnings to grow about 14.4%/yr for 10 years, then trade at 15x.

Delivered2.5%/yrEPS, last 6 fiscal years · 3-yr avg to 3-yr avg
Gap+11.9 ptsimplied minus delivered
Rank278thmost demanding of 856

Over time

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

0%19%39% Sep 2020Nov 2026 0%19%39% Sep 2020Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x15.7%16.7%17.7%
15x13.4%14.4%15.4%
20x10.5%11.5%12.5%

Drag a slider to test other assumptions

Implied: 14.4%/yr

Looking back

  • Jan 2022Price implied 36%/yr; EPS has since grown 4%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹313.20
P/E
21.4x
ROCE
13.0%
Market Cap
₹4763 cr
Revenue (TTM)
₹2395 cr
P/S
2.0x
P/B
2.8x
ROE
13.2%
Operating Margin
19.0%
Debt / Equity
0.9x
Promoter Holding
44.2%
12M Momentum
-37.2%

52-week range

₹295.10₹519.90
8% of the way from its 52-week low to its high

Price risk

1Y volatility
40.0%
Beta vs sector
1-year daily
0.77

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.10x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance21%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 20.5%. 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 conversion1.10xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.10x (cash from operations ₹710 cr, net profit ₹646 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 above the median of the previous three fiscal years by 5 days (62 vs 57). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% 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 3 years, promoters trimmed 7.1 pts; DIIs added 3.2 pts; FIIs added 0.9 pts.
  • The number of shareholders fell from 7.3 lakh to 6.4 lakh (-12%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters51.4%44.2%-7.1 pts
FIIs5.1%6.0%+0.9 pts
DIIs2.4%5.7%+3.2 pts
Public and others38.9%42.9%+4.0 pts

Number of shareholders

6.4 lakhshareholders-12% since Sep '23
6.4L6.8L7.2L7.6L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 7.3 lakh
Dec '23: 7.4 lakh
Mar '24: 7.3 lakh
Jun '24: 7.6 lakh
Sep '24: 7.3 lakh
Dec '24: 7.1 lakh
Mar '25: 6.9 lakh
Jun '25: 6.8 lakh
Sep '25: 6.6 lakh
Dec '25: 6.5 lakh
Mar '26: 6.4 lakh
Jun '26: 6.4 lakh
 6.4L6.8L7.2L7.6L Sep '23Sep '24Sep '25Jun '26
Sep '23: 7.3 lakh
Dec '23: 7.4 lakh
Mar '24: 7.3 lakh
Jun '24: 7.6 lakh
Sep '24: 7.3 lakh
Dec '24: 7.1 lakh
Mar '25: 6.9 lakh
Jun '25: 6.8 lakh
Sep '25: 6.6 lakh
Dec '25: 6.5 lakh
Mar '26: 6.4 lakh
Jun '26: 6.4 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

What happened next to similar setups

+8.6%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 HAPPIEST MINDS TECHNOLOGIES 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 −12% to +33% vs the market, against 0% for all non-financial companies in the same months.
  • The gap against the base rate (+8.6%, 80% range −0.2% to +19.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
AWHCL · Oct 2025: −46.3% vs market
SHILPAMED · Apr 2022: −43.0% vs market
SIYSIL · Mar 2020: −29.7% vs market
HIKAL · Nov 2022: −26.8% vs market
AARTIDRUGS · Oct 2023: −26.0% vs market
JMFINANCIL · Apr 2021: −22.7% vs market
VARROC · Feb 2020: −21.2% vs market
TRIDENT · Aug 2024: −19.7% vs market
AARTIIND · Nov 2024: −17.9% vs market
GESHIP · Nov 2020: −17.6% vs market
GRINFRA · Aug 2022: −14.9% vs market
BRIGADE · Sep 2025: −14.9% vs market
PCBL · Sep 2025: −11.9% vs market
EVEREADY · Jun 2024: −11.7% vs market
INDIANHUME · Jul 2020: −10.9% vs market
GVT&D · Apr 2021: −10.9% vs market
SUDARSCHEM · Jul 2022: −8.7% vs market
EPL · Sep 2023: −4.3% vs market
INDOCO · Jun 2024: −4.2% vs market
JKLAKSHMI · Apr 2024: −4.0% vs market
BFUTILITIE · Jun 2022: +1.2% vs market
CARYSIL · Jun 2024: +1.3% vs market
GOCLCORP · Apr 2021: +6.9% vs market
VRLLOG · Jun 2020: +7.1% vs market
KNRCON · Oct 2022: +8.0% vs market
SOMANYCERA · Sep 2022: +9.1% vs market
BIRLACORPN · Jul 2022: +9.9% vs market
CAMLINFINE · Aug 2022: +16.4% vs market
PNCINFRA · Sep 2022: +18.8% vs market
NRBBEARING · Feb 2022: +19.5% vs market
RAJRATAN · Jul 2025: +21.4% vs market
GLENMARK · Mar 2020: +25.6% vs market
RKFORGE · Oct 2025: +25.9% vs market
ASTERDM · May 2021: +25.9% vs market
BANARISUG · Jul 2021: +26.6% vs market
PURVA · Aug 2020: +27.7% vs market
MMFL · Jan 2022: +32.9% vs market
JKCEMENT · Jun 2022: +33.5% vs market
RPSGVENT · Nov 2022: +34.1% vs market
FSL · Jan 2023: +36.2% vs market
ASAHIINDIA · Aug 2024: +43.0% vs market
SMSPHARMA · Aug 2025: +45.8% vs market
JUBLPHARMA · Mar 2020: +52.0% vs market
ORIENTCEM · Sep 2020: +58.6% vs market
AVALON · May 2024: +68.1% vs market
GANECOS · Dec 2023: +74.9% vs market
WELSPUNLIV · Mar 2020: +108.2% vs market
KIRLOSENG · May 2025: +108.5% vs market
SOBHA · Mar 2023: +126.4% vs market
PRSMJOHNSN · Mar 2020: +141.0% vs market
Similar setups +8.6%All companies 0%← 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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
+8.6%
All companies' median
0%
Beat the market
60% vs 50%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SOBHA
Finance		 Mar 2023 26x10% −39%−41% +126%
SUDARSCHEM
Process Industries		 Jul 2022 25x13% −37%−39% −9%
KIRLOSENG
Producer Manufacturing		 May 2025 26x15% −27%−36% +109%
GLENMARK
Health Technology		 Mar 2020 6x15% −68%−69% +26%
ORIENTCEM
Non-Energy Minerals		 Sep 2020 15x11% −32%−34% +59%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
WELSPUNLIV
Consumer Non-Durables		 Mar 2020 10x11% −64%−65% +108%
SOMANYCERA
Producer Manufacturing		 Sep 2022 26x12% −28%−42% +9%
JKCEMENT
Non-Energy Minerals		 Jun 2022 24x17% −26%−44% +34%
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: drawdown from 12-month high, 12-month momentum and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 HAPPIEST MINDS TECHNOLOGIES. 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.

NITIN SPINNERSNITINSPIN
Process Industries
68%similar
operating margindebt/equity
V MART RETAILVMART
Retail Trade
63%similar
ROCEpromoter holding
GREENPLY INDUSTRIESGREENPLY
Producer Manufacturing
62%similar
revenue growthvolatility
WELSPUN ENTERPRISESWELENT
Industrial Services
62%similar
operating marginvolatility
COSMO FIRSTCOSMOFIRST
Process Industries
61%similar
volatilitydebt/equity
R SYSTEMS INTERNATIONALRSYSTEMS
Technology Services
50%similar
revenueoperating margin
MASTEKMASTEK
Technology Services
47%similar
market capvolatility
INTELLECT DESIGN ARENAINTELLECT
Technology Services
44%similar
volatilityP/E

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

What changed?

30 events since Feb '23

  1. OctPriceFell 80% from the Jul 2021 peak to the Oct 2026 low.
  2. SepInstitutionsFII + DII holding fell 3.8 pts over 2 quarters to 11.7%.
  3. JulPriceVolume reached 16.5x its 50-day median on 2026-07-13; price +5.5% that day.
  4. JunResultsYear-on-year EPS growth turned positive.
  5. JunValuationP/E fell below the 10th percentile of its own history to date (24.4x).
  6. JunPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  7. MarPriceVolume reached 150.9x its 50-day median on 2026-03-11; price +2.8% that day.
  8. DecValuationP/E fell below the 10th percentile of its own history to date (35.9x).
Show 22 earlier events
  1. OctPriceVolume reached 11.0x its 50-day median on 2025-10-08; price -1.4% that day.
  2. SepPeer rankMoved into the 2nd quartile of Technology Services on operating margin (from the 3rd quartile).
  3. AugPriceVolume reached 13.8x its 50-day median on 2025-08-21; price +0.9% that day.
  4. JunPeer rankSlipped to the 3rd quartile of Technology Services on ROCE (from the 2nd quartile).
  5. JunPriceVolume reached 110.9x its 50-day median on 2025-06-17; price +11.1% that day.
  6. MarInstitutionsFII + DII holding rose 3.3 pts over 2 quarters to 11.4%.
  7. FebPriceVolume reached 14.2x its 50-day median on 2025-02-24; price +7.3% that day.
  8. DecResultsYear-on-year EPS growth turned negative.
  9. DecPeer rankSlipped to the bottom quartile of Technology Services on EPS growth (from the 3rd quartile).
  10. DecPriceVolume reached 26.9x its 50-day median on 2024-12-30; price +7.0% that day.
  11. SepPromoterPromoter holding fell 6.0 pts to 44.2%.
  12. SepPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
  13. JunResultsRevenue (TTM) reached a new high of ₹1,625 cr.
  14. JunPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  15. JunPriceVolume reached 72.5x its 50-day median on 2024-06-25; price -9.5% that day.
  16. FebPriceVolume reached 8.6x its 50-day median on 2024-02-27; price +4.5% that day.
  17. DecPriceVolume reached 10.3x its 50-day median on 2023-12-15; price +2.4% that day.
  18. SepPriceVolume reached 13.0x its 50-day median on 2023-09-28; price -4.1% that day.
  19. JunResultsRevenue (TTM) reached a new high of ₹1,429 cr.
  20. JunPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  21. JunPriceVolume reached 14.4x its 50-day median on 2023-06-21; price +6.3% that day.
  22. FebPriceVolume reached 12.8x its 50-day median on 2023-02-20; price +6.5% 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 history75 months · 2020-09 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1121.4x₹2395 cr13.2%13.0%0.9x
2026-1020.3x₹2395 cr13.2%13.0%0.9x
2026-0921.2x₹2395 cr13.2%13.0%0.9x
2026-0829.1x₹2316 cr12.6%13.0%0.9x
2026-0727.0x₹2316 cr12.6%13.0%0.9x
2026-0624.4x₹2316 cr12.6%13.0%0.9x
2026-0530.5x₹2257 cr11.7%15.0%0.8x
2026-0430.6x₹2257 cr11.7%15.0%0.8x
2026-0329.6x₹2257 cr11.7%15.0%0.8x
2026-0228.1x₹2200 cr12.4%15.0%0.8x
2026-0132.2x₹2200 cr12.4%15.0%0.8x
2025-1235.9x₹2200 cr12.4%15.0%0.8x
2025-1139.8x₹2148 cr12.1%15.0%0.8x
2025-1041.2x₹2148 cr12.1%15.0%0.8x
2025-0942.4x₹2148 cr12.1%15.0%0.8x
2025-0846.6x₹2062 cr11.7%15.0%0.8x
2025-0750.1x₹2062 cr11.7%15.0%0.8x
2025-0654.1x₹2062 cr11.7%15.0%0.8x
2025-0540.7x₹1934 cr15.1%22.0%0.3x
2025-0439.1x₹1934 cr15.1%22.0%0.3x
2025-0340.8x₹1934 cr15.1%22.0%0.3x
2025-0245.0x₹1813 cr15.7%22.0%0.3x
2025-0145.2x₹1813 cr15.7%22.0%0.3x
2024-1248.2x₹1813 cr15.7%22.0%0.3x
2024-1145.7x₹1698 cr16.3%22.0%0.3x
2024-1048.3x₹1698 cr16.3%22.0%0.3x
2024-0951.0x₹1698 cr16.3%22.0%0.3x
2024-0849.3x₹1625 cr16.8%22.0%0.3x
2024-0749.4x₹1625 cr16.8%22.0%0.3x
2024-0649.7x₹1625 cr16.8%22.0%0.3x
2024-0550.1x₹1429 cr27.5%30.0%0.6x
2024-0451.8x₹1429 cr27.5%30.0%0.6x
2024-0347.3x₹1429 cr27.5%30.0%0.6x
2024-0253.8x₹1429 cr27.5%30.0%0.6x
2024-0155.7x₹1429 cr27.5%30.0%0.6x
2023-1257.0x₹1429 cr27.5%30.0%0.6x
2023-1153.2x₹1429 cr27.5%30.0%0.6x
2023-1052.1x₹1429 cr27.5%30.0%0.6x
2023-0955.6x₹1429 cr27.5%30.0%0.6x
2023-0859.0x₹1429 cr27.5%30.0%0.6x
2023-0758.8x₹1429 cr27.5%30.0%0.6x
2023-0662.2x₹1429 cr27.5%30.0%0.6x
2023-0574.6x₹1094 cr27.2%32.0%0.4x
2023-0466.7x₹1094 cr27.2%32.0%0.4x
2023-0362.2x₹1094 cr27.2%32.0%0.4x
2023-0269.4x₹1094 cr27.2%32.0%0.4x
2023-0168.6x₹1094 cr27.2%32.0%0.4x
2022-1271.4x₹1094 cr27.2%32.0%0.4x
2022-1176.8x₹1094 cr27.2%32.0%0.4x
2022-1078.6x₹1094 cr27.2%32.0%0.4x
2022-0980.5x₹1094 cr27.2%32.0%0.4x
2022-0883.6x₹1094 cr27.2%32.0%0.4x
2022-0778.4x₹1094 cr27.2%32.0%0.4x
2022-0667.2x₹1094 cr27.2%32.0%0.4x
2022-0581.8x₹773 cr29.7%35.0%0.4x
2022-0490.4x₹773 cr29.7%35.0%0.4x
2022-0395.5x₹773 cr29.7%35.0%0.4x
2022-0288.4x₹773 cr29.7%35.0%0.4x
2022-01104.1x₹773 cr29.7%35.0%0.4x
2021-12117.2x₹773 cr29.7%35.0%0.4x
2021-11109.0x₹773 cr29.7%35.0%0.4x
2021-10115.2x₹773 cr29.7%35.0%0.4x
2021-09124.8x₹773 cr29.7%35.0%0.4x
2021-08129.1x₹773 cr29.7%35.0%0.4x
2021-07123.1x₹773 cr29.7%35.0%0.4x
2021-0690.8x₹773 cr29.7%35.0%0.4x
2021-0559.7x₹698 cr31.4%43.0%0.7x
2021-0449.9x₹698 cr31.4%43.0%0.7x
2021-0337.2x₹698 cr31.4%43.0%0.7x
2021-0236.6x₹698 cr31.4%43.0%0.7x
2021-0123.9x₹698 cr31.4%43.0%0.7x
2020-1223.7x₹698 cr31.4%43.0%0.7x
2020-1121.6x₹698 cr31.4%43.0%0.7x
2020-1023.3x₹698 cr31.4%43.0%0.7x
2020-0924.0x₹698 cr31.4%43.0%0.7x

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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