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HERO MOTOCORP LIMITED (HEROMOTOCO)

Consumer Durables · Motor Vehicles · 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.78 / 100
Profitability 79Growth 56Balance sheet 100
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.56 / 100
Price 46Earnings 53FII/DII 71

Passes these screensCash RichQuality CompounderDebt-light & profitableInstitutions in, retail outConsistent compounders

Compare withMAHINDRA & MAHINDRAMARUTI SUZUKI INDIABAJAJ AUTO

Share price

Closing priceAdjusted for splits and bonus issues.

₹5,410.5 latest close · +11.5% over the last 90 sessions

₹5,000₹5,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹5,000₹5,500Jul 3Sep 4Nov 9

₹5,410.5 month-end · −12.4% over 12 months

₹5,000₹5,500₹6,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹5,000₹5,500₹6,000Nov '25May '26Nov '26

₹5,410.5 month-end · +49.1% over 3 years

₹4,000₹5,000₹6,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹4,000₹5,000₹6,000Nov '23May '25Nov '26

₹5,410.5 month-end · +120.6% since Jan '19

₹2,000₹4,000₹6,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,000₹4,000₹6,000Jan '19Dec '22Nov '26

52-week range ₹4671.50 to ₹6388.50 · 1-year volatility 27.5%

Was the rally earned?

-12%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 7 points, but investors now pay less per rupee of profit (P/E 24.5x to 19.9x), which took 20 points back.
  • The share count barely moved.
Net profit growth: +7 pts. Points of the price return explained by net profit growing (or shrinking).+7 ptsNet profit growthP/E change: −20 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−20 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: +7 pts. Points of the price return explained by net profit growing (or shrinking).+7ProfitP/E change: −20 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−20P/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+7 ptsNet profit rose about 8%, which lifts the price.
P/E change-20 ptsThe P/E fell from 24.5x to 19.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+49%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 81 points, but investors now pay less per rupee of profit (P/E 25.8x to 19.9x), which took 32 points back.
  • The share count barely moved.
Net profit growth: +82 pts. Points of the price return explained by net profit growing (or shrinking).+82 ptsNet profit growthP/E change: −32 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−32 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +49%+49%Share priceNet profit growth: +82 pts. Points of the price return explained by net profit growing (or shrinking).+82ProfitP/E change: −32 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−32P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +49%+49%Share price
Net profit growth+82 ptsNet profit rose about 95%, which lifts the price.
P/E change-32 ptsThe P/E fell from 25.8x to 19.9x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+136%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 99 points to the rise, while the multiple moved less (P/E 15.7x to 19.9x).
  • The share count barely moved.
Net profit growth: +98 pts. Points of the price return explained by net profit growing (or shrinking).+98 ptsNet profit growthP/E change: +37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+37 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +136%+136%Share priceNet profit growth: +98 pts. Points of the price return explained by net profit growing (or shrinking).+98ProfitP/E change: +37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+37P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +136%+136%Share price
Net profit growth+98 ptsNet profit rose about 86%, which lifts the price.
P/E change+37 ptsThe P/E rose from 15.7x to 19.9x, which lifts the price.
Share count change+1 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 MAHINDRA & MAHINDRA

How rough has the ride been?

Maximum drawdown-52.0%recovered 2020-08
1-year volatility27.5%annualised
Beta vs sector index0.933-year daily, correlation 0.61
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−51.0% 0%−20%−40%2020202220242026−51.0%
Largest drawdowns

-52.0% (2019-01 peak to 2020-03 low, recovered 2020-08)

-42.2% (2024-09 peak to 2025-03 low, recovered 2025-11)

-39.8% (2021-02 peak to 2022-03 low, recovered 2023-11)

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?

19.9xP/E todayWithin its usual range
Against its own history63rd percentile
CheapestMedian 18.7xDearest

Usual range 13.2x to 26.7x since 2019-01.

Against Consumer Durables19.9x vs 25.5x
This company
19.9x
Sector median
25.5x

22% below the Consumer Durables median.

8.5x20.6x32.7x44.8xJan '19Aug '20Mar '22Oct '23May '25Nov '268.5x20.6x32.7x44.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianConsumer Durables median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianConsumer Durables 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 Consumer Durables is valued

Where does it rank among Consumer Durables peers?

Each cell is the company's percentile rank among its Consumer Durables 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

  • ROCE92ndflat vs a year ago
  • Op. margin66th▼ 8 pts vs a year ago
  • Revenue growth59th▲ 31 pts vs a year ago
  • EPS growth40th▼ 29 pts vs a year ago
  • Debt/equity ↓85thflat vs a year ago
  • Cash cycle ↓91st▲ 4 pts vs a year ago
  • P/E ↓66th▼ 9 pts vs a year ago
  • 12M momentum50th▼ 36 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 Consumer Durables sector page Watch it move against Consumer Durables in the Observatory

What is the price implying?

~15%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 28.7x, a holder earning 12%/yr needs earnings to grow about 15.2%/yr for 10 years, then trade at 15x.

Delivered3.8%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+11.4 ptsimplied minus delivered
Rank293rdmost demanding of 856

Over time

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

-2%9%19% Jan 2019Nov 2026 -2%9%19% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x16.2%17.2%18.3%
15x14.2%15.2%16.2%
20x11.5%12.5%13.5%

Drag a slider to test other assumptions

Implied: 15.2%/yr

Looking back

  • Jan 2020Price implied 7%/yr; EPS has since grown 8%/yr (7.0 yrs)
  • Jan 2021Price implied 10%/yr; EPS has since grown 8%/yr (6.0 yrs)
  • Jan 2022Price implied 8%/yr; EPS has since grown 15%/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 Consumer Durables The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹5410.50
P/E
19.9x
ROCE
35.0%
Market Cap
₹1.08L cr
Revenue (TTM)
₹50809 cr
P/S
2.1x
P/B
5.0x
ROE
25.2%
Operating Margin
13.0%
Debt / Equity
0.0x
Promoter Holding
34.7%
12M Momentum
-12.4%

52-week range

₹4671.50₹6388.50
43% of the way from its 52-week low to its high

Price risk

1Y volatility
27.5%
Beta vs sector
1-year daily
0.98

Balance sheet & cash

Interest cover
operating profit ÷ interest
92.5x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.26x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance15%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 15.1%. 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 conversion1.26xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.26x (cash from operations ₹17,535 cr, net profit ₹13,894 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-11 daysWithin range

Debtor days are below the median of the previous three fiscal years by 11 days (18 vs 29). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress12% of fixed assetsWithin range

Capital work-in-progress is 12% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+8 days / 2 yrsWithin range

Days payable changed by +8 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs trimmed 4.9 pts; FIIs added 4.3 pts.
  • The number of shareholders rose from 3.0 lakh to 8.9 lakh (+195%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters34.8%34.7%0.0 pts
FIIs26.8%31.1%+4.3 pts
DIIs29.1%24.3%-4.9 pts
Public and others9.3%9.8%+0.5 pts

Number of shareholders

8.9 lakhshareholders+195% since Sep '23
2.8L5.0L7.3L9.5L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 3.0 lakh
Dec '23: 2.8 lakh
Mar '24: 2.9 lakh
Jun '24: 3.0 lakh
Sep '24: 7.6 lakh
Dec '24: 8.7 lakh
Mar '25: 9.5 lakh
Jun '25: 8.9 lakh
Sep '25: 9.0 lakh
Dec '25: 8.7 lakh
Mar '26: 9.0 lakh
Jun '26: 8.9 lakh
 2.8L5.0L7.3L9.5L Sep '23Sep '24Sep '25Jun '26
Sep '23: 3.0 lakh
Dec '23: 2.8 lakh
Mar '24: 2.9 lakh
Jun '24: 3.0 lakh
Sep '24: 7.6 lakh
Dec '24: 8.7 lakh
Mar '25: 9.5 lakh
Jun '25: 8.9 lakh
Sep '25: 9.0 lakh
Dec '25: 8.7 lakh
Mar '26: 9.0 lakh
Jun '26: 8.9 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

+0.3%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like HERO MOTOCORP 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 −22% to +17% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (+2.7%, 80% range −4.6% to +5.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ARE&M · Dec 2020: −48.9% vs market
COALINDIA · Mar 2020: −48.2% vs market
OFSS · Nov 2021: −34.3% vs market
FINPIPE · Nov 2021: −31.9% vs market
SKFINDIA · Aug 2023: −31.2% vs market
RATNAMANI · Sep 2024: −28.8% vs market
ACC · May 2022: −25.9% vs market
GALAXYSURF · Jan 2022: −24.9% vs market
HAVELLS · Aug 2025: −24.3% vs market
PETRONET · Feb 2020: −23.7% vs market
DODLA · Jul 2025: −22.3% vs market
HINDZINC · Dec 2022: −22.2% vs market
DEEPAKNTR · Apr 2024: −21.6% vs market
AIAENG · Dec 2023: −21.6% vs market
IGL · Dec 2022: −20.4% vs market
IPCALAB · Mar 2022: −19.9% vs market
LTTS · Aug 2024: −19.9% vs market
INFY · May 2022: −19.7% vs market
SUPREMEIND · Oct 2021: −10.2% vs market
BAJAJ-AUTO · Jul 2024: −9.8% vs market
COROMANDEL · May 2023: −5.1% vs market
BALKRISIND · Mar 2022: −3.8% vs market
ALKEM · Feb 2022: −2.2% vs market
EICHERMOT · Dec 2023: −1.0% vs market
CIPLA · Jun 2024: −0.4% vs market
ZYDUSLIFE · Mar 2025: +1.0% vs market
HCLTECH · Aug 2023: +1.6% vs market
DRREDDY · Dec 2023: +1.9% vs market
MSUMI · Nov 2024: +3.0% vs market
AMBUJACEM · May 2022: +5.0% vs market
PRAJIND · Aug 2023: +5.7% vs market
MANKIND · Jun 2024: +6.7% vs market
TECHM · May 2021: +7.3% vs market
MARUTI · Mar 2025: +9.8% vs market
AJANTPHARM · Jun 2024: +10.2% vs market
RITES · Nov 2022: +11.9% vs market
CASTROLIND · Dec 2022: +14.9% vs market
ATUL · Feb 2021: +17.6% vs market
ESCORTS · Mar 2022: +17.8% vs market
JBCHEPHARM · May 2022: +18.2% vs market
ECLERX · Feb 2023: +21.1% vs market
BOSCHLTD · Aug 2024: +33.8% vs market
POLYCAB · Apr 2021: +37.0% vs market
BEL · Dec 2021: +37.6% vs market
CUMMINSIND · Dec 2023: +41.8% vs market
MPHASIS · Feb 2020: +43.2% vs market
WIPRO · Jun 2020: +52.0% vs market
SONATSOFTW · Apr 2020: +69.4% vs market
ITC · Feb 2022: +76.2% vs market
HAL · Apr 2022: +85.6% vs market
Similar setups +0.3%All companies −2.4%← 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

Similar setups' median
+0.3%
All companies' median
−2.4%
Beat the market
50% vs 47%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ESCORTS
Producer Manufacturing		 Mar 2022 26x28% +31%−11% +18%
BEL
Electronic Technology		 Dec 2021 24x28% +75%−6% +38%
CIPLA
Health Technology		 Jun 2024 29x23% +46%−6% 0%
TECHM
Technology Services		 May 2021 23x22% +98%−5% +7%
BAJAJ-AUTO
Consumer Durables		 Jul 2024 34x34% +96%−3% −10%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
COROMANDEL
Process Industries		 May 2023 18x35% +2%−11% −5%
SUPREMEIND
Producer Manufacturing		 Oct 2021 30x42% +61%−11% −10%
FINPIPE
Producer Manufacturing		 Nov 2021 18x36% +68%−10% −32%
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 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 HERO MOTOCORP 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.

ALKEM LABORATORIESALKEM
Health Technology
62%similar
market capEPS growth
APL APOLLO TUBESAPLAPOLLO
Non-Energy Minerals
60%similar
EPS growthROCE
INFOSYSINFY
Technology Services
60%similar
revenueROCE
KEI INDUSTRIESKEI
Producer Manufacturing
60%similar
promoter holdingdebt/equity
GLENMARK PHARMACEUTICALSGLENMARK
Health Technology
58%similar
market capvolatility
MRFMRF
Consumer Durables
64%similar
revenueoperating margin
EICHER MOTORSEICHERMOT
Consumer Durables
60%similar
volatilityEPS growth
MARUTI SUZUKI INDIAMARUTI
Consumer Durables
56%similar
revenuevolatility

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

What changed?

30 events since Aug '19

  1. SepPeer rankSlipped to the 3rd quartile of Consumer Durables on EPS growth (from the 2nd quartile).
  2. JunPriceVolume reached 6.6x its 50-day median on 2026-06-29; price -1.7% that day.
  3. DecResultsRevenue (TTM) reached a new high of ₹42,176 cr.
  4. DecPriceVolume reached 5.3x its 50-day median on 2025-12-30; price +2.6% that day.
  5. NovPriceRegained the 2024-09 peak, 8 months after the low.
  6. SepPriceVolume reached 13.1x its 50-day median on 2025-09-29; price -0.5% that day.
  7. MarPriceFell 42% from the Sep 2024 peak to the Mar 2025 low.
  8. JunResultsRevenue (TTM) reached a new high of ₹37,789 cr.
Show 22 earlier events
  1. JunPeer rankMoved into the 2nd quartile of Consumer Durables on EPS growth (from the 3rd quartile).
  2. MayPriceVolume reached 5.5x its 50-day median on 2024-05-09; price +3.3% that day.
  3. NovPriceRegained the 2021-02 peak, 20 months after the low.
  4. NovValuationP/E crossed above the 90th percentile of its own history to date (25.8x).
  5. NovPriceVolume reached 6.2x its 50-day median on 2023-11-30; price +2.0% that day.
  6. JunResultsYear-on-year EPS growth turned positive.
  7. MayValuationP/E crossed above the 90th percentile of its own history to date (22.4x).
  8. MayValuationP/E crossed above the 90th percentile of its own history to date (17.9x).
  9. AprPriceVolume reached 5.1x its 50-day median on 2022-04-01; price -2.5% that day.
  10. MarPriceFell 40% from the Feb 2021 peak to the Mar 2022 low.
  11. JanValuationP/E crossed above the 90th percentile of its own history to date (17.5x).
  12. JanPriceVolume reached 5.9x its 50-day median on 2022-01-17; price +5.3% that day.
  13. SepPeer rankSlipped to the 3rd quartile of Consumer Durables on EPS growth (from the 2nd quartile).
  14. JunResultsYear-on-year EPS growth turned negative.
  15. JunValuationP/E crossed above the 90th percentile of its own history to date (18.7x).
  16. JanValuationP/E crossed above the 90th percentile of its own history to date (16.9x).
  17. AugPriceRegained the 2019-01 peak, 5 months after the low.
  18. JunResultsYear-on-year EPS growth turned positive.
  19. JunPeer rankMoved into the 2nd quartile of Consumer Durables on EPS growth (from the 3rd quartile).
  20. MarPriceFell 52% from the Jan 2019 peak to the Mar 2020 low.
  21. FebPeer rankMoved into the 3rd quartile of Consumer Durables on EPS growth (from the bottom quartile).
  22. AugPriceVolume reached 5.7x its 50-day median on 2019-08-27; price +0.9% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1119.9x₹50809 cr25.2%35.0%0.0x
2026-1019.0x₹50809 cr25.4%35.0%0.0x
2026-0919.2x₹50809 cr25.4%35.0%0.0x
2026-0819.0x₹47411 cr26.7%35.0%0.0x
2026-0718.8x₹47411 cr26.7%35.0%0.0x
2026-0616.7x₹47411 cr26.7%35.0%0.0x
2026-0518.0x₹44403 cr28.4%30.0%0.0x
2026-0418.7x₹44403 cr28.4%30.0%0.0x
2026-0318.6x₹44403 cr28.4%30.0%0.0x
2026-0221.6x₹42176 cr27.5%30.0%0.0x
2026-0121.0x₹42176 cr27.5%30.0%0.0x
2025-1221.8x₹42176 cr27.5%30.0%0.0x
2025-1124.5x₹40441 cr26.2%30.0%0.0x
2025-1022.0x₹40441 cr26.2%30.0%0.0x
2025-0921.7x₹40441 cr26.2%30.0%0.0x
2025-0823.2x₹40924 cr22.7%30.0%0.0x
2025-0719.5x₹40924 cr22.7%30.0%0.0x
2025-0619.4x₹40924 cr22.7%30.0%0.0x
2025-0520.8x₹40571 cr23.4%29.0%0.0x
2025-0418.4x₹40571 cr23.4%29.0%0.0x
2025-0317.9x₹40571 cr23.4%29.0%0.0x
2025-0217.8x₹40099 cr23.3%29.0%0.0x
2025-0120.5x₹40099 cr23.3%29.0%0.0x
2024-1219.6x₹40099 cr23.3%29.0%0.0x
2024-1122.8x₹39149 cr23.0%29.0%0.0x
2024-1023.8x₹39149 cr23.0%29.0%0.0x
2024-0927.3x₹39149 cr23.0%29.0%0.0x
2024-0828.4x₹37789 cr21.1%29.0%0.0x
2024-0728.6x₹37789 cr21.1%29.0%0.0x
2024-0629.1x₹37789 cr21.1%29.0%0.0x
2024-0535.5x₹34158 cr16.8%23.0%0.0x
2024-0431.5x₹34158 cr16.8%23.0%0.0x
2024-0332.8x₹34158 cr16.8%23.0%0.0x
2024-0230.7x₹34158 cr16.8%23.0%0.0x
2024-0131.4x₹34158 cr16.8%23.0%0.0x
2023-1228.0x₹34158 cr16.8%23.0%0.0x
2023-1125.8x₹34158 cr16.8%23.0%0.0x
2023-1020.7x₹34158 cr16.8%23.0%0.0x
2023-0920.5x₹34158 cr16.8%23.0%0.0x
2023-0819.5x₹34158 cr16.8%23.0%0.0x
2023-0721.5x₹34158 cr16.8%23.0%0.0x
2023-0619.5x₹34158 cr16.8%23.0%0.0x
2023-0522.4x₹29551 cr14.7%18.0%0.0x
2023-0420.7x₹29551 cr14.7%18.0%0.0x
2023-0318.9x₹29551 cr14.7%18.0%0.0x
2023-0219.5x₹29551 cr14.7%18.0%0.0x
2023-0122.4x₹29551 cr14.7%18.0%0.0x
2022-1222.2x₹29551 cr14.7%18.0%0.0x
2022-1123.2x₹29551 cr14.7%18.0%0.0x
2022-1021.7x₹29551 cr14.7%18.0%0.0x
2022-0920.6x₹29551 cr14.7%18.0%0.0x
2022-0823.0x₹29551 cr14.7%18.0%0.0x
2022-0722.9x₹29551 cr14.7%18.0%0.0x
2022-0622.0x₹29551 cr14.7%18.0%0.0x
2022-0517.9x₹30959 cr19.0%24.0%0.0x
2022-0416.1x₹30959 cr19.0%24.0%0.0x
2022-0314.7x₹30959 cr19.0%24.0%0.0x
2022-0216.3x₹30959 cr19.0%24.0%0.0x
2022-0117.5x₹30959 cr19.0%24.0%0.0x
2021-1215.8x₹30959 cr19.0%24.0%0.0x

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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