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HESTER BIOSCIENCES LTD (HESTERBIO)

Health Technology · Pharmaceuticals: Major · 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.54 / 100
Profitability 71Growth 64Balance sheet 26
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.58 / 100
Price 46Earnings 85FII/DII 42

Passes these screensCash RichValue Pick

Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIESTORRENT PHARMACEUTICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹2,308.9 latest close · +5.0% over the last 90 sessions

₹2,200₹2,400Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹2,200₹2,400Jul 3Sep 4Nov 9

₹2,308.9 month-end · +39.6% over 12 months

₹1,500₹2,000₹2,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,500₹2,000₹2,500Nov '25May '26Nov '26

₹2,308.9 month-end · +55.4% over 3 years

₹2,000₹3,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹2,000₹3,000Nov '23May '25Nov '26

₹2,308.9 month-end · +87.1% since Jan '19

₹1,000₹2,000₹3,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹1,000₹2,000₹3,000Jan '19Dec '22Nov '26

52-week range ₹1239.30 to ₹2683.60 · 1-year volatility 42.3%

Was the rally earned?

+40%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 153 points, but investors now pay less per rupee of profit (P/E 37.4x to 14.4x), which took 113 points back.
  • The share count barely moved.
Net profit growth: +152 pts. Points of the price return explained by net profit growing (or shrinking).+152 ptsNet profit growthP/E change: −113 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−113 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: +40%+40%Share priceNet profit growth: +152 pts. Points of the price return explained by net profit growing (or shrinking).+152ProfitP/E change: −113 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−113P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +40%+40%Share price
Net profit growth+152 ptsNet profit rose about 258%, which lifts the price.
P/E change-113 ptsThe P/E fell from 37.4x to 14.4x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+55%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 205 points, but investors now pay less per rupee of profit (P/E 47.5x to 14.4x), which took 150 points back.
  • The share count fell 5%.
Net profit growth: +199 pts. Points of the price return explained by net profit growing (or shrinking).+199 ptsNet profit growthP/E change: −150 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−150 ptsP/E changeShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6 ptsShare count changeShare price: +55%+55%Share priceNet profit growth: +199 pts. Points of the price return explained by net profit growing (or shrinking).+199ProfitP/E change: −150 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−150P/EShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price.+6SharesShare price: +55%+55%Share price
Net profit growth+199 ptsNet profit rose about 386%, which lifts the price.
P/E change-150 ptsThe P/E fell from 47.5x to 14.4x, which lowers the price.
Share count change+6 ptsShare count fell 5%, which lifts the price.
+3%share price, 5 yearsRoughly flat
  • The share price was roughly flat over 5 years (+3%).
  • The share count barely moved.
Net profit growth: +138 pts. Points of the price return explained by net profit growing (or shrinking).+138 ptsNet profit growthP/E change: −136 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−136 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: +3%+3%Share priceNet profit growth: +138 pts. Points of the price return explained by net profit growing (or shrinking).+138ProfitP/E change: −136 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−136P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +3%+3%Share price
Net profit growth+138 ptsNet profit rose about 289%, which lifts the price.
P/E change-136 ptsThe P/E fell from 55.2x to 14.4x, which lowers the price.
Share count change+2 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

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

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

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

Compare this with SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-61.0%not yet recovered
1-year volatility42.3%annualised
Beta vs sector index0.723-year daily, correlation 0.24
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−61.0% 0%−20%−40%−60%2020202220242026−61.0%
Largest drawdowns

-61.0% (2024-07 peak to 2025-03 low, not yet recovered)

-55.3% (2021-05 peak to 2024-03 low, recovered 2024-07)

-54.4% (2019-09 peak to 2020-03 low, recovered 2021-03)

Most recent volume spikes

2026-11-05: 20.1x the 50-day median, price +4.1% that day

2026-09-04: 15.8x the 50-day median, price +9.3% that day

2026-07-30: 45.7x the 50-day median, price -0.7% 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).

Is it expensive against its own past and its peers?

14.4xP/E todayNear its historic low
Against its own history3rd percentile
CheapestMedian 47.0xDearest

Usual range 30.2x to 66.2x since 2019-01.

Against Health Technology14.4x vs 37.0x
This company
14.4x
Sector median
37.0x

61% below the Health Technology median.

13.6x55.8x98.1x140.3xJan '19Aug '20Mar '22Oct '23May '25Nov '2613.6x55.8x98.1x140.3xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Health Technology peers?

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

  • ROCE54th▲ 21 pts vs a year ago
  • Op. margin87th▲ 4 pts vs a year ago
  • Revenue growth29th▼ 9 pts vs a year ago
  • EPS growth97th▲ 5 pts vs a year ago
  • Debt/equity ↓20th▲ 6 pts vs a year ago
  • Cash cycle ↓14thflat vs a year ago
  • P/E ↓86th▲ 42 pts vs a year ago
  • 12M momentum74th▲ 49 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 Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~27%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 56.8x, a holder earning 12%/yr needs earnings to grow about 26.9%/yr for 10 years, then trade at 15x.

Delivered3.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+23.9 ptsimplied minus delivered
Rank96thmost demanding of 856

Over time

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

0%17%34% Jan 2019Nov 2026 0%17%34% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x28.4%29.5%30.7%
15x25.7%26.9%28.0%
20x22.3%23.4%24.5%

Drag a slider to test other assumptions

Implied: 26.9%/yr

Looking back

  • Jan 2020Price implied 27%/yr; EPS has since grown 5%/yr (7.0 yrs)
  • Jan 2021Price implied 27%/yr; EPS has since grown 11%/yr (6.0 yrs)
  • Jan 2022Price implied 30%/yr; EPS has since grown 10%/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 Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹2308.90
P/E
14.4x
ROCE
15.0%
Market Cap
₹1964 cr
Revenue (TTM)
₹325 cr
P/S
6.0x
P/B
5.4x
ROE
37.7%
Operating Margin
29.0%
Debt / Equity
0.5x
Promoter Holding
53.7%
12M Momentum
39.6%

52-week range

₹1239.30₹2683.60
74% of the way from its 52-week low to its high

Price risk

1Y volatility
42.3%
Beta vs sector
1-year daily
0.76

Balance sheet & cash

Interest cover
operating profit ÷ interest
14.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.65x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance66%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 66.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

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

Cash conversion1.65xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.65x (cash from operations ₹177 cr, net profit ₹107 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+11 daysWithin range

Debtor days are above the median of the previous three fiscal years by 11 days (105 vs 94). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2% of fixed assetsWithin range

Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+12 days / 2 yrsWithin range

Days payable changed by +12 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders fell from 13,342 to 11,961 (-10%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters53.7%53.7%0.0 pts
FIIs0.4%0.3%-0.1 pts
DIIs0.0%0.0%0.0 pts
Public and others45.8%46.0%+0.1 pts

Number of shareholders

11,961shareholders-10% since Sep '23
11k12k13k13k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 13,342
Dec '23: 13,450
Mar '24: 12,844
Jun '24: 11,305
Sep '24: 11,538
Dec '24: 11,473
Mar '25: 11,853
Jun '25: 11,810
Sep '25: 12,260
Dec '25: 12,603
Mar '26: 12,373
Jun '26: 11,961
 11k12k13k13k Sep '23Sep '24Sep '25Jun '26
Sep '23: 13,342
Dec '23: 13,450
Mar '24: 12,844
Jun '24: 11,305
Sep '24: 11,538
Dec '24: 11,473
Mar '25: 11,853
Jun '25: 11,810
Sep '25: 12,260
Dec '25: 12,603
Mar '26: 12,373
Jun '26: 11,961

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

−5.2%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 HESTER BIOSCIENCES LTD 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 −17% to +26% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (−1.1%, 80% range −7.8% to +6.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SIGACHI · Feb 2024: −52.3% vs market
HINDWAREAP · May 2023: −51.6% vs market
BLISSGVS · Aug 2020: −51.2% vs market
MARATHON · Jul 2025: −48.0% vs market
PIXTRANS · Dec 2024: −46.5% vs market
ROHLTD · Sep 2025: −43.2% vs market
KRSNAA · Jul 2025: −41.9% vs market
AJMERA · Oct 2025: −34.6% vs market
INTLCONV · Nov 2023: −32.6% vs market
GHCL · Jul 2022: −28.1% vs market
ICIL · Apr 2024: −23.7% vs market
EPIGRAL · Oct 2024: −22.2% vs market
NAVA · Jul 2025: −16.6% vs market
HEG · Jul 2023: −16.4% vs market
POKARNA · Nov 2024: −15.3% vs market
PCBL · Apr 2021: −13.6% vs market
CYIENT · May 2021: −12.0% vs market
NRBBEARING · Jul 2023: −11.4% vs market
GNA · Aug 2021: −10.5% vs market
GEOJITFSL · May 2024: −10.3% vs market
EVEREADY · May 2021: −8.3% vs market
SEAMECLTD · Oct 2021: −8.1% vs market
GODFRYPHLP · Jan 2023: −8.0% vs market
NIITLTD · Mar 2020: −6.7% vs market
TIIL · Nov 2021: −5.6% vs market
YASHOPTICS · Oct 2025: −4.8% vs market
JASH · Aug 2023: −4.1% vs market
GRANULES · Jan 2025: −3.3% vs market
SARDAEN · Dec 2024: +2.2% vs market
THEMISMED · Sep 2023: +4.1% vs market
TAJGVK · Dec 2024: +7.2% vs market
CCL · Oct 2022: +7.3% vs market
MIDHANI · Jun 2023: +7.5% vs market
SHALBY · Jun 2023: +7.5% vs market
VISHNU · Mar 2025: +10.0% vs market
KNRCON · Feb 2020: +14.4% vs market
AARTIPHARM · Sep 2025: +14.6% vs market
DOLLAR · Dec 2020: +29.7% vs market
MOLDTKPAC · May 2021: +33.9% vs market
TRIDENT · Jun 2020: +43.9% vs market
SANGHVIMOV · Jun 2023: +50.8% vs market
TEGA · Apr 2023: +54.0% vs market
SOLARA · Jun 2020: +55.5% vs market
SMSPHARMA · Jun 2020: +70.1% vs market
CGPOWER · Nov 2021: +71.6% vs market
IIFLCAPS · Dec 2023: +89.9% vs market
GRWRHITECH · Oct 2023: +99.4% vs market
KPRMILL · Mar 2021: +136.2% vs market
DYNPRO · Mar 2020: +151.1% vs market
UNIHEALTH · May 2025: +152.6% vs market
Similar setups −5.2%All companies −4.1%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−5.2%
All companies' median
−4.1%
Beat the market
44% vs 46%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
POKARNA
Producer Manufacturing		 Nov 2024 32x18% +102%−5% −15%
TAJGVK
Consumer Services		 Dec 2024 23x19% +67%−6% +7%
MIDHANI
Non-Energy Minerals		 Jun 2023 35x15% +78%−2% +8%
AJMERA
Finance		 Oct 2025 31x13% +19%−8% −35%
SARDAEN
Non-Energy Minerals		 Dec 2024 28x15% +91%−6% +2%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AARTIPHARM
Health Technology		 Sep 2025 28x17% +30%−14% +15%
MARATHON
Finance		 Jul 2025 20x12% +17%−7% −48%
EPIGRAL
Process Industries		 Oct 2024 35x17% +137%−10% −22%
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 ROCE. 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 HESTER BIOSCIENCES LTD. 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.

SUYOG TELEMATICSSUYOG
Industrial Services
61%similar
ROCErevenue
CREDO BRANDS MARKETINGMUFTI
Retail Trade
57%similar
debt/equitypromoter holding
EFC IEFCIL
Distribution Services
55%similar
volatilitypromoter holding
ORIENT GREEN POWER COMPANY LIMGREENPOWER
Utilities
55%similar
revenuevolatility
SIGNPOST INDIASIGNPOST
Commercial Services
54%similar
P/Edebt/equity
WANBURYWANBURY
Health Technology
39%similar
P/Erevenue growth
SENORES PHARMACEUTICALSSENORES
Health Technology
37%similar
ROCEoperating margin
NGL FINE CHEMNGLFINE
Health Technology
31%similar
market caprevenue

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

What changed?

30 events since Feb '24

  1. NovPriceVolume reached 20.1x its 50-day median on 2026-11-05; price +4.1% that day.
  2. SepValuationP/E fell below the 10th percentile of its own history to date (13.6x).
  3. JulPriceVolume reached 68.3x its 50-day median on 2026-07-13; price +20.0% that day.
  4. JunPeer rankMoved into the 2nd quartile of Health Technology on ROCE (from the 3rd quartile).
  5. MayPriceVolume reached 50.5x its 50-day median on 2026-05-15; price +5.2% that day.
  6. MarResultsRevenue (TTM) reached a new high of ₹314 cr.
  7. MarPeer rankMoved into the 2nd quartile of Health Technology on operating margin (from the 3rd quartile).
  8. JanPriceVolume reached 7.1x its 50-day median on 2026-01-30; price +3.0% that day.
Show 22 earlier events
  1. DecValuationP/E fell below the 10th percentile of its own history to date (31.0x).
  2. DecPeer rankSlipped to the 3rd quartile of Health Technology on operating margin (from the top quartile).
  3. NovPriceVolume reached 18.8x its 50-day median on 2025-11-12; price +2.7% that day.
  4. SepResultsRevenue (TTM) reached a new high of ₹313 cr.
  5. SepPeer rankMoved into the top quartile of Health Technology on operating margin (from the 2nd quartile).
  6. AugPriceVolume reached 168.2x its 50-day median on 2025-08-01; price +12.5% that day.
  7. JunPeer rankMoved into the 2nd quartile of Health Technology on operating margin (from the bottom quartile).
  8. AprPriceVolume reached 127.6x its 50-day median on 2025-04-02; price +20.0% that day.
  9. MarResultsYear-on-year EPS growth turned positive.
  10. MarPriceFell 61% from the Jul 2024 peak to the Mar 2025 low.
  11. MarPeer rankSlipped to the bottom quartile of Health Technology on operating margin (from the 2nd quartile).
  12. MarPriceVolume reached 13.4x its 50-day median on 2025-03-05; price +2.6% that day.
  13. DecResultsRevenue (TTM) reached a new high of ₹312 cr.
  14. NovPriceVolume reached 12.3x its 50-day median on 2024-11-08; price +4.1% that day.
  15. JulPriceRegained the 2021-05 peak, 4 months after the low.
  16. JulPriceVolume reached 13.2x its 50-day median on 2024-07-26; price +3.7% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹304 cr.
  18. JunValuationP/E crossed above the 90th percentile of its own history to date (108.1x).
  19. JunPeer rankSlipped to the bottom quartile of Health Technology on EPS growth (from the 3rd quartile).
  20. JunPriceVolume reached 34.4x its 50-day median on 2024-06-24; price +4.0% that day.
  21. MarPriceFell 55% from the May 2021 peak to the Mar 2024 low.
  22. FebPriceVolume reached 7.0x its 50-day median on 2024-02-02; price -3.9% 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
2026-1114.4x₹325 cr37.7%15.0%0.5x
2026-1014.3x₹325 cr38.0%15.0%0.5x
2026-0913.6x₹325 cr38.0%15.0%0.5x
2026-0834.5x₹332 cr15.8%15.0%0.5x
2026-0737.9x₹332 cr15.8%15.0%0.5x
2026-0633.1x₹332 cr15.8%15.0%0.5x
2026-0541.7x₹314 cr13.3%10.0%0.7x
2026-0433.9x₹314 cr13.3%10.0%0.7x
2026-0326.1x₹314 cr13.3%10.0%0.7x
2026-0230.3x₹300 cr14.0%10.0%0.7x
2026-0128.8x₹300 cr14.0%10.0%0.7x
2025-1231.0x₹300 cr14.0%10.0%0.7x
2025-1137.4x₹313 cr12.1%10.0%0.7x
2025-1036.3x₹313 cr12.1%10.0%0.7x
2025-0943.4x₹313 cr12.1%10.0%0.7x
2025-0862.7x₹311 cr8.9%10.0%0.7x
2025-0760.3x₹311 cr8.9%10.0%0.7x
2025-0657.4x₹311 cr8.9%10.0%0.7x
2025-0548.9x₹308 cr11.0%9.0%0.8x
2025-0448.7x₹308 cr11.0%9.0%0.8x
2025-0334.3x₹308 cr11.0%9.0%0.8x
2025-0254.3x₹312 cr8.6%9.0%0.8x
2025-0171.0x₹312 cr8.6%9.0%0.8x
2024-1287.0x₹312 cr8.6%9.0%0.8x
2024-11114.1x₹298 cr7.2%9.0%0.8x
2024-10103.4x₹298 cr7.2%9.0%0.8x
2024-09108.0x₹298 cr7.2%9.0%0.8x
2024-08106.4x₹304 cr7.2%9.0%0.8x
2024-07140.3x₹304 cr7.2%9.0%0.8x
2024-06108.1x₹304 cr7.2%9.0%0.8x
2024-0557.5x₹266 cr10.0%9.0%1.0x
2024-0452.6x₹266 cr10.0%9.0%1.0x
2024-0344.6x₹266 cr10.0%9.0%1.0x
2024-0244.4x₹266 cr10.0%9.0%1.0x
2024-0148.7x₹266 cr10.0%9.0%1.0x
2023-1246.6x₹266 cr10.0%9.0%1.0x
2023-1147.5x₹266 cr10.0%9.0%1.0x
2023-1053.0x₹266 cr10.0%9.0%1.0x
2023-0953.1x₹266 cr10.0%9.0%1.0x
2023-0854.9x₹266 cr10.0%9.0%1.0x
2023-0754.5x₹266 cr10.0%9.0%1.0x
2023-0654.7x₹266 cr10.0%9.0%1.0x
2023-0535.7x₹235 cr15.0%14.0%0.9x
2023-0439.2x₹235 cr15.0%14.0%0.9x
2023-0332.9x₹235 cr15.0%14.0%0.9x
2023-0238.2x₹235 cr15.0%14.0%0.9x
2023-0140.4x₹235 cr15.0%14.0%0.9x
2022-1238.8x₹235 cr15.0%14.0%0.9x
2022-1140.6x₹235 cr15.0%14.0%0.9x
2022-1042.6x₹235 cr15.0%14.0%0.9x
2022-0943.5x₹235 cr15.0%14.0%0.9x
2022-0846.1x₹235 cr15.0%14.0%0.9x
2022-0748.0x₹235 cr15.0%14.0%0.9x
2022-0645.9x₹235 cr15.0%14.0%0.9x
2022-0555.9x₹214 cr15.3%18.0%0.5x
2022-0464.6x₹214 cr15.3%18.0%0.5x
2022-0367.0x₹214 cr15.3%18.0%0.5x
2022-0254.4x₹214 cr15.3%18.0%0.5x
2022-0162.0x₹214 cr15.3%18.0%0.5x
2021-1262.6x₹214 cr15.3%18.0%0.5x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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