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HEG LIMITED (HEG)

Producer Manufacturing · Electrical 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.50 / 100
Profitability 56Growth 19Balance sheet 76
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.36 / 100
Price 0Earnings 86FII/DII 23

Passes these screensPromoters buying

Compare withBHARAT HEAVY ELECTRICALSABB INDIASIEMENS

Share price

Closing priceAdjusted for splits and bonus issues.

₹289.18 latest close · −45.1% over the last 90 sessions

₹200₹400₹600Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹400₹600Jul 3Sep 4Nov 9

₹289.18 month-end · −45.2% over 12 months

₹200₹400₹600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹400₹600Nov '25May '26Nov '26

₹289.18 month-end · −11.8% over 3 years

₹200₹400₹600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹400₹600Nov '23May '25Nov '26

₹289.18 month-end · −39.6% since Jan '19

₹200₹400₹600Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹200₹400₹600Jan '19Dec '22Nov '26

52-week range ₹191.71 to ₹753.90 · 1-year volatility 109.7%

Was the rally earned?

-45%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 45 points, but investors now pay less per rupee of profit (P/E 51.8x to 15.5x), which took 90 points back.
  • The share count barely moved.
Net profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45 ptsNet profit growthP/E change: −90 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−90 ptsP/E changeShare price: −45%−45%Share priceNet profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45ProfitP/E change: −90 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−90P/EShare price: −45%−45%Share price
Net profit growth+45 ptsNet profit rose about 83%, which lifts the price.
P/E change-90 ptsThe P/E fell from 51.8x to 15.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-12%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 37 points, while the multiple moved less (P/E 11.9x to 15.5x).
  • The share count barely moved.
Net profit growth: −37 pts. Points of the price return explained by net profit growing (or shrinking).−37 ptsNet profit growthP/E change: +25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+25 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: −12%−12%Share priceNet profit growth: −37 pts. Points of the price return explained by net profit growing (or shrinking).−37ProfitP/E change: +25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+25P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −12%−12%Share price
Net profit growth-37 ptsNet profit fell about 33%, which lowers the price.
P/E change+25 ptsThe P/E rose from 11.9x to 15.5x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with BHARAT HEAVY ELECTRICALS

How rough has the ride been?

Maximum drawdown-88.6%recovered 2026-08
1-year volatility109.7%annualised
Beta vs sector index1.073-year daily, correlation 0.36
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−87.5% 0%−25%−50%−75%2020202220242026−87.5%
Largest drawdowns

-88.6% (2019-01 peak to 2020-03 low, recovered 2026-08)

-73.1% (2026-08 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-11-05: 13.5x the 50-day median, price +2.5% that day

2026-11-04: 18.1x the 50-day median, price +19.7% that day

2026-08-18: 5.2x the 50-day median, price +5.9% 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).

Where it ranks today

  • ROCE20th▲ 10 pts vs a year ago
  • Op. margin91st▲ 13 pts vs a year ago
  • Revenue growth64th▲ 47 pts vs a year ago
  • EPS growth88th▲ 41 pts vs a year ago
  • Debt/equity ↓58th▼ 5 pts vs a year ago
  • Cash cycle ↓11th▲ 6 pts vs a year ago
  • P/E ↓36th▲ 23 pts vs a year ago
  • 12M momentum7th▼ 78 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?

~17%annual earnings growth implied by the price

At a P/E of 27.5x, the price would imply about 17.2%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

A recent split or bonus issue may make per-share figures inconsistent for now.

“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

Key figures

Share Priceclose 9 Nov
₹289.18
ROCE
8.0%
Market Cap
₹9521 cr
Revenue (TTM)
₹2639 cr
ROE
12.9%
Operating Margin
22.0%
Debt / Equity
0.2x
Promoter Holding
56.3%
12M Momentum
-45.2%

52-week range

₹191.71₹753.90
17% of the way from its 52-week low to its high

Price risk

1Y volatility
109.7%
Beta vs sector
1-year daily
1.07

Balance sheet & cash

Interest cover
operating profit ÷ interest
12.5x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.44x
Share count, 1Y
unchanged

Per-share figures around a recent split, bonus issue or demerger may not yet be consistent.

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance97%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 97.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate18%Within range

Median quarterly effective tax rate over about 2.5 years: 17.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.44xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.44x (cash from operations ₹1,105 cr, net profit ₹768 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-4 daysWithin range

Debtor days are below the median of the previous three fiscal years by 4 days (71 vs 75). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress13% of fixed assetsWithin range

Capital work-in-progress is 13% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+3 days / 2 yrsWithin range

Days payable changed by +3 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 2 years, FIIs added 1.6 pts; promoters added 0.5 pts.
  • The number of shareholders rose from 1.3 lakh to 1.4 lakh (+5%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters55.8%56.3%+0.5 pts
FIIs6.8%8.5%+1.6 pts
DIIs8.8%9.3%+0.4 pts
Public and others28.5%26.0%-2.5 pts

Number of shareholders

1.4 lakhshareholders+5% since Dec '23
1.2L1.3L1.4L1.5L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 1.3 lakh
Mar '24: 1.3 lakh
Jun '24: 1.2 lakh
Sep '24: 1.2 lakh
Dec '24: 1.5 lakh
Mar '25: 1.5 lakh
Jun '25: 1.5 lakh
Sep '25: 1.4 lakh
Dec '25: 1.3 lakh
Mar '26: 1.4 lakh
Jun '26: 1.4 lakh
 1.2L1.3L1.4L1.5L Dec '23Dec '24Dec '25Jun '26
Dec '23: 1.3 lakh
Mar '24: 1.3 lakh
Jun '24: 1.2 lakh
Sep '24: 1.2 lakh
Dec '24: 1.5 lakh
Mar '25: 1.5 lakh
Jun '25: 1.5 lakh
Sep '25: 1.4 lakh
Dec '25: 1.3 lakh
Mar '26: 1.4 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

What happened next to similar setups

Not enough comparable history to show analogs for this company yet.

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.

BALAJI AMINESBALAMINES
Process Industries
68%similar
EPS growthpromoter holding
LLOYDS ENTERPRISESLLOYDSENT
Distribution Services
59%similar
market capdebt/equity
IOL CHEMICALS & PHARMACEUTICALIOLCP
Process Industries
57%similar
revenuerevenue growth
AARTI PHARMALABSAARTIPHARM
Health Technology
55%similar
market caprevenue growth
RAYMONDRAYMOND
Process Industries
51%similar
revenuemarket cap
WEST COAST PAPER MILLSWSTCSTPAPR
Producer Manufacturing
64%similar
promoter holdingROCE
PRECISION WIRES INDIAPRECWIRE
Producer Manufacturing
46%similar
promoter holdingvolatility
G N A AXLESGNA
Producer Manufacturing
45%similar
revenue growthdebt/equity

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. NovPriceVolume reached 18.1x its 50-day median on 2026-11-04; price +19.7% that day.
  2. OctPriceFell 73% from the Aug 2026 peak to the Oct 2026 low.
  3. SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  4. AugPriceRegained the 2019-01 peak, 77 months after the low.
  5. JulPriceVolume reached 19.1x its 50-day median on 2026-07-23; price +4.2% that day.
  6. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the top quartile).
  7. AprPriceVolume reached 7.6x its 50-day median on 2026-04-20; price -0.6% that day.
  8. MarPriceVolume reached 40.9x its 50-day median on 2026-03-27; price +13.8% that day.
Show 22 earlier events
  1. DecPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  2. NovPriceVolume reached 36.9x its 50-day median on 2025-11-11; price +2.4% that day.
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  5. JulPriceVolume reached 79.5x its 50-day median on 2025-07-31; price +7.3% that day.
  6. JunValuationP/E crossed above the 90th percentile of its own history to date (85.7x).
  7. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  8. MayPriceVolume reached 19.2x its 50-day median on 2025-05-19; price +7.8% that day.
  9. MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
  10. MarPriceVolume reached 50.7x its 50-day median on 2025-03-25; price +11.9% that day.
  11. DecValuationP/E crossed above the 90th percentile of its own history to date (54.2x).
  12. DecPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  13. DecPriceVolume reached 71.2x its 50-day median on 2024-12-04; price +16.2% that day.
  14. SepInstitutionsFII + DII holding rose 3.4 pts over 2 quarters to 19.1%.
  15. SepPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  16. SepPriceVolume reached 55.6x its 50-day median on 2024-09-25; price +5.4% that day.
  17. JunResultsYear-on-year EPS growth turned negative.
  18. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  19. AprPriceVolume reached 7.9x its 50-day median on 2024-04-10; price +8.3% that day.
  20. MarPriceVolume reached 10.7x its 50-day median on 2024-03-12; price +7.9% that day.
  21. FebPeer rankSlipped to the 3rd quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  22. DecPriceVolume reached 13.5x its 50-day median on 2023-12-27; price +4.9% 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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹2639 cr12.9%8.0%0.2x
2026-10—₹2639 cr12.9%8.0%0.2x
2026-09—₹2639 cr12.9%8.0%0.2x
2026-0841.2x₹2571 cr12.3%8.0%0.2x
2026-0737.2x₹2571 cr12.3%8.0%0.2x
2026-0629.2x₹2571 cr12.3%8.0%0.2x
2026-0528.7x₹2505 cr14.6%4.0%0.1x
2026-0430.2x₹2505 cr14.6%4.0%0.1x
2026-0327.4x₹2505 cr14.6%4.0%0.1x
2026-0243.2x₹2327 cr9.9%4.0%0.1x
2026-0140.6x₹2327 cr9.9%4.0%0.1x
2025-1246.7x₹2327 cr9.9%4.0%0.1x
2025-1151.8x₹2196 cr7.5%4.0%0.1x
2025-1058.0x₹2196 cr7.5%4.0%0.1x
2025-0949.5x₹2196 cr7.5%4.0%0.1x
2025-0877.6x₹2154 cr4.4%4.0%0.1x
2025-0796.3x₹2154 cr4.4%4.0%0.1x
2025-0685.7x₹2154 cr4.4%4.0%0.1x
2025-0545.6x₹2164 cr8.5%9.0%0.1x
2025-0440.6x₹2164 cr8.5%9.0%0.1x
2025-0342.1x₹2164 cr8.5%9.0%0.1x
2025-0238.0x₹2248 cr7.0%9.0%0.1x
2025-0141.9x₹2248 cr7.0%9.0%0.1x
2024-1254.2x₹2248 cr7.0%9.0%0.1x
2024-1143.6x₹2294 cr7.6%9.0%0.1x
2024-1042.7x₹2294 cr7.6%9.0%0.1x
2024-0949.0x₹2294 cr7.6%9.0%0.1x
2024-0824.7x₹2394 cr12.1%9.0%0.1x
2024-0727.5x₹2394 cr12.1%9.0%0.1x
2024-0626.8x₹2394 cr12.1%9.0%0.1x
2024-0516.7x₹2463 cr21.3%15.0%0.2x
2024-0417.1x₹2463 cr21.3%15.0%0.2x
2024-0313.4x₹2463 cr21.3%15.0%0.2x
2024-0211.7x₹2463 cr21.3%15.0%0.2x
2024-0112.8x₹2463 cr21.3%15.0%0.2x
2023-1213.8x₹2463 cr21.3%15.0%0.2x
2023-1111.9x₹2463 cr21.3%15.0%0.2x
2023-1011.8x₹2463 cr21.3%15.0%0.2x
2023-0912.5x₹2463 cr21.3%15.0%0.2x
2023-0812.7x₹2463 cr21.3%15.0%0.2x
2023-0713.1x₹2463 cr21.3%15.0%0.2x
2023-0611.8x₹2463 cr21.3%15.0%0.2x
2023-0510.4x₹2201 cr18.8%14.0%0.2x
2023-0410.0x₹2201 cr18.8%14.0%0.2x
2023-038.2x₹2201 cr18.8%14.0%0.2x
2023-028.6x₹2201 cr18.8%14.0%0.2x
2023-019.3x₹2201 cr18.8%14.0%0.2x
2022-129.2x₹2201 cr18.8%14.0%0.2x
2022-119.6x₹2201 cr18.8%14.0%0.2x
2022-109.5x₹2201 cr18.8%14.0%0.2x
2022-099.5x₹2201 cr18.8%14.0%0.2x
2022-0811.3x₹2201 cr18.8%14.0%0.2x
2022-0710.5x₹2201 cr18.8%14.0%0.2x
2022-068.9x₹2201 cr18.8%14.0%0.2x
2022-05—₹1254 cr-0.9%-2.0%0.1x
2022-04—₹1254 cr-0.9%-2.0%0.1x
2022-03—₹1254 cr-0.9%-2.0%0.1x
2022-02—₹1254 cr-0.9%-2.0%0.1x
2022-01—₹1254 cr-0.9%-2.0%0.1x
2021-12—₹1254 cr-0.9%-2.0%0.1x
2021-11—₹1254 cr-0.9%-2.0%0.1x
2021-10—₹1254 cr-0.9%-2.0%0.1x
2021-09—₹1254 cr-0.9%-2.0%0.1x
2021-08—₹1254 cr-0.9%-2.0%0.1x
2021-07—₹1254 cr-0.9%-2.0%0.1x
2021-06—₹1254 cr-0.9%-2.0%0.1x
2021-05119.7x₹2145 cr3.3%0.0%0.2x
2021-04131.6x₹2145 cr3.3%0.0%0.2x
2021-0383.7x₹2145 cr3.3%0.0%0.2x
2021-0282.6x₹2145 cr3.3%0.0%0.2x
2021-0153.5x₹2145 cr3.3%0.0%0.2x
2020-1252.9x₹2145 cr3.3%0.0%0.2x
2020-1146.0x₹2145 cr3.3%0.0%0.2x
2020-1038.6x₹2145 cr3.3%0.0%0.2x
2020-0941.6x₹2145 cr3.3%0.0%0.2x
2020-0848.9x₹2145 cr3.3%0.0%0.2x
2020-0741.9x₹2145 cr3.3%0.0%0.2x
2020-0647.3x₹2145 cr3.3%0.0%0.2x
2020-05—₹6591 cr136.4%139.0%0.2x
2020-041.0x₹6591 cr136.4%139.0%0.2x
2020-03—₹6591 cr136.4%139.0%0.2x
2020-021.1x₹6591 cr136.4%139.0%0.2x
2020-011.4x₹6591 cr136.4%139.0%0.2x
2019-121.4x₹6591 cr136.4%139.0%0.2x
2019-111.4x₹6591 cr136.4%139.0%0.2x
2019-101.3x₹6591 cr136.4%139.0%0.2x
2019-091.2x₹6591 cr136.4%139.0%0.2x
2019-081.2x₹6591 cr136.4%139.0%0.2x
2019-071.3x₹6591 cr136.4%139.0%0.2x
2019-061.9x₹6591 cr136.4%139.0%0.2x
2019-056.3x₹2748 cr98.5%86.0%0.2x
2019-045.9x₹2748 cr98.5%86.0%0.2x
2019-037.6x₹2748 cr98.5%86.0%0.2x
2019-027.4x₹2748 cr98.5%86.0%0.2x
2019-018.7x₹2748 cr98.5%86.0%0.2x

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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