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HINDUSTAN OIL EXPLORATION CO (HINDOILEXP)

Energy Minerals · Integrated Oil · 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.41 / 100
Profitability 18Growth 5Balance 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.38 / 100
Price 53Earnings 4FII/DII 57
Compare withINDIAN OIL CORPORATIONOIL INDIAIRM ENERGY

Share price

Closing priceAdjusted for splits and bonus issues.

₹155.71 latest close · −2.8% over the last 90 sessions

₹160₹180₹200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹160₹180₹200Jul 3Sep 4Nov 9

₹155.71 month-end · +7.7% over 12 months

₹120₹140₹160Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹120₹140₹160Nov '25May '26Nov '26

₹155.71 month-end · −3.1% over 3 years

₹150₹200₹250Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹150₹200₹250Nov '23May '25Nov '26

₹155.71 month-end · +42.3% since Jan '19

₹100₹200Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹100₹200Jan '19Dec '22Nov '26

52-week range ₹117.50 to ₹201.44 · 1-year volatility 47.0%

Was the rally earned?

+8%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 12.8x to 82.0x); per-share earnings took off 185 points.
  • The share count barely moved.
Net profit growth: −185 pts. Points of the price return explained by net profit growing (or shrinking).−185 ptsNet profit growthP/E change: +193 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+193 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: +8%+8%Share priceNet profit growth: −185 pts. Points of the price return explained by net profit growing (or shrinking).−185ProfitP/E change: +193 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+193P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +8%+8%Share price
Net profit growth-185 ptsNet profit fell about 83%, which lowers the price.
P/E change+193 ptsThe P/E rose from 12.8x to 82.0x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-3%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (-3%).
  • The share count barely moved.
Net profit growth: −201 pts. Points of the price return explained by net profit growing (or shrinking).−201 ptsNet profit growthP/E change: +198 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+198 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: −3%−3%Share priceNet profit growth: −201 pts. Points of the price return explained by net profit growing (or shrinking).−201ProfitP/E change: +198 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+198P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −3%−3%Share price
Net profit growth-201 ptsNet profit fell about 87%, which lowers the price.
P/E change+198 ptsThe P/E rose from 11.0x to 82.0x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-1%share price, 5 yearsRoughly flat
  • The share price was roughly flat over 5 years (-1%).
  • The share count barely moved.
Net profit growth: −74 pts. Points of the price return explained by net profit growing (or shrinking).−74 ptsNet profit growthP/E change: +75 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+75 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: 0%0%Share priceNet profit growth: −74 pts. Points of the price return explained by net profit growing (or shrinking).−74ProfitP/E change: +75 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+75P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: 0%0%Share price
Net profit growth-74 ptsNet profit fell about 53%, which lowers the price.
P/E change+75 ptsThe P/E rose from 38.8x to 82.0x, 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 INDIAN OIL CORPORATION

How rough has the ride been?

Maximum drawdown-75.8%recovered 2021-08
1-year volatility47.0%annualised
Beta vs sector index0.633-year daily, correlation 0.29
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−73.4% 0%−20%−40%−60%2020202220242026−73.4%
Largest drawdowns

-75.8% (2019-05 peak to 2020-03 low, recovered 2021-08)

-58.6% (2024-08 peak to 2026-03 low, not yet recovered)

-49.2% (2022-01 peak to 2023-03 low, recovered 2023-08)

Most recent volume spikes

2026-09-09: 8.7x the 50-day median, price +1.1% that day

2026-09-07: 6x the 50-day median, price +2.1% that day

2026-09-03: 81.2x the 50-day median, price +11.0% 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?

82.0xP/E todayNear its historic high
Against its own history87th percentile
CheapestMedian 14.7xDearest

Usual range 7.4x to 89.4x since 2019-01.

Against Energy Minerals82.0x vs 12.7x
This company
82.0x
Sector median
12.7x

546% above the Energy Minerals median.

2.9x43.2x83.5x123.8xJan '19Aug '20Mar '22Oct '23May '25Nov '262.9x43.2x83.5x123.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianEnergy Minerals 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 Energy Minerals is valued

Where does it rank among Energy Minerals peers?

Each cell is the company's percentile rank among its Energy Minerals 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

  • ROCE8th▼ 31 pts vs a year ago
  • Op. margin28th▼ 67 pts vs a year ago
  • Revenue growth8thflat vs a year ago
  • EPS growth10th▼ 20 pts vs a year ago
  • Debt/equity ↓89th▲ 14 pts vs a year ago
  • Cash cycle ↓54th▲ 24 pts vs a year ago
  • P/E ↓4th▼ 58 pts vs a year ago
  • 12M momentum75th▲ 51 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 Energy Minerals sector page Watch it move against Energy Minerals in the Observatory

What is the price implying?

~13%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 15.8x, a holder earning 12%/yr needs earnings to grow about 12.6%/yr for 10 years, then trade at 15x.

Delivered9.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+3.2 ptsimplied minus delivered
Rank471stmost demanding of 856

Over time

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

-5%14%32% Jan 2019Nov 2026 -5%14%32% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x14.1%15.1%16.2%
15x11.6%12.6%13.6%
20x8.4%9.4%10.4%

Drag a slider to test other assumptions

Implied: 12.6%/yr

Looking back

  • Jan 2020Price implied 6%/yr; EPS has since grown −12%/yr (7.0 yrs)
  • Jan 2021Price implied 11%/yr; EPS has since grown −12%/yr (6.0 yrs)
  • Jan 2022Price implied 22%/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 Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹155.71
P/E
82.0x
ROCE
3.0%
Market Cap
₹2062 cr
Revenue (TTM)
₹299 cr
P/S
6.9x
P/B
1.5x
ROE
1.8%
Operating Margin
4.8%
Debt / Equity
0.0x
12M Momentum
7.7%

52-week range

₹117.50₹201.44
46% of the way from its 52-week low to its high

Price risk

1Y volatility
47.0%
Beta vs sector
1-year daily
0.12

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.06x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 6checks within range1 beyond a threshold
Other income reliance125%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 125.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate14%Near threshold

Median quarterly effective tax rate over about 2.5 years: 13.7%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.06xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.06x (cash from operations ₹462 cr, net profit ₹436 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-63 daysWithin range

Debtor days are below the median of the previous three fiscal years by 63 days (42 vs 105). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% 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, DIIs trimmed 3.9 pts; FIIs added 0.9 pts.
  • The number of shareholders rose from 84,120 to 90,352 (+7%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters———
FIIs1.0%1.9%+0.9 pts
DIIs4.0%0.1%-3.9 pts
Public and others95.0%98.0%+3.0 pts

Number of shareholders

90,352shareholders+7% since Sep '23
84k89k94k98k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 84,120
Dec '23: 87,978
Mar '24: 98,329
Jun '24: 95,202
Sep '24: 94,186
Dec '24: 96,669
Mar '25: 93,795
Jun '25: 95,509
Sep '25: 92,866
Dec '25: 91,723
Mar '26: 94,700
Jun '26: 90,352
 84k89k94k98k Sep '23Sep '24Sep '25Jun '26
Sep '23: 84,120
Dec '23: 87,978
Mar '24: 98,329
Jun '24: 95,202
Sep '24: 94,186
Dec '24: 96,669
Mar '25: 93,795
Jun '25: 95,509
Sep '25: 92,866
Dec '25: 91,723
Mar '26: 94,700
Jun '26: 90,352

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

−13.8%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 HINDUSTAN OIL EXPLORATION CO 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 −34% to +12% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−10.5%, 80% range −24.6% to +2.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
CHEMBOND · Jul 2024: −70.9% vs market
DUGLOBAL · Nov 2024: −53.3% vs market
HARDWYN · Oct 2024: −49.8% vs market
GRAPHITE · May 2021: −44.9% vs market
APCOTEXIND · Mar 2023: −39.5% vs market
TASTYBITE · May 2023: −39.4% vs market
RESPONIND · May 2024: −39.0% vs market
DCXINDIA · Aug 2025: −38.7% vs market
CCHHL · Aug 2025: −35.9% vs market
SUBEXLTD · Apr 2023: −35.3% vs market
NGLFINE · Aug 2023: −34.3% vs market
BORORENEW · Oct 2022: −34.1% vs market
RAJTV · May 2020: −34.0% vs market
DENTALKART · Apr 2025: −31.8% vs market
SUNTECK · Aug 2022: −30.9% vs market
JTEKTINDIA · Mar 2021: −29.0% vs market
INDBANK · Jan 2024: −27.8% vs market
IVC · Feb 2025: −27.4% vs market
VAKRANGEE · Jun 2020: −27.1% vs market
HINDCOMPOS · Jan 2021: −25.5% vs market
RUSTOMJEE · Apr 2024: −25.1% vs market
ASHIANA · Jan 2020: −23.4% vs market
SUNDROP · Nov 2024: −22.8% vs market
BHAGCHEM · May 2025: −21.9% vs market
AMJLAND · Mar 2020: −15.4% vs market
ARVEE · May 2025: −12.2% vs market
RIIL · May 2020: −8.9% vs market
BOROLTD · Jun 2023: −1.1% vs market
ORBTEXP · Mar 2022: −0.2% vs market
INVENTURE · Mar 2021: +0.4% vs market
ARVSMART · May 2024: +0.5% vs market
HEG · Jun 2025: +1.1% vs market
LAOPALA · Mar 2022: +3.0% vs market
UNICHEMLAB · Apr 2023: +4.8% vs market
APTECHT · Mar 2022: +5.5% vs market
TEXINFRA · Oct 2023: +5.6% vs market
ASTRAMICRO · Apr 2020: +11.9% vs market
JAICORPLTD · Jul 2020: +12.3% vs market
BEML · Mar 2021: +17.2% vs market
TATVA · May 2025: +22.7% vs market
ANTELOPUS · May 2022: +24.9% vs market
URJA · Nov 2021: +29.7% vs market
AVALON · Feb 2025: +29.9% vs market
QUICKHEAL · Oct 2023: +33.0% vs market
DIACABS · May 2025: +67.6% vs market
MAANALU · May 2023: +76.0% vs market
SEMAC · Jan 2023: +77.4% vs market
KKCL · May 2022: +83.3% vs market
ZENTEC · Jun 2021: +89.8% vs market
CARTRADE · Feb 2024: +101.8% vs market
Similar setups −13.8%All companies −3.3%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
−13.8%
All companies' median
−3.3%
Beat the market
42% vs 46%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ASTRAMICRO
Electronic Technology		 Apr 2020 57x3% −26%−35% +12%
APTECHT
Commercial Services		 Mar 2022 109x5% +83%−21% +6%
RIIL
Industrial Services		 May 2020 44x4% −18%−41% −9%
DIACABS
Producer Manufacturing		 May 2025 145x— +18%−39% +68%
APCOTEXIND
Process Industries		 Mar 2023 67x— +36%−25% −40%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RESPONIND
Non-Energy Minerals		 May 2024 336x5% +94%−14% −39%
HEG
Producer Manufacturing		 Jun 2025 86x4% +18%−15% +1%
JAICORPLTD
Process Industries		 Jul 2020 46x3% +15%−26% +12%
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 HINDUSTAN OIL EXPLORATION CO. 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.

DCX SYSTEMSDCXINDIA
Producer Manufacturing
73%similar
revenue growthvolatility
BALAJI TELEFILMSBALAJITELE
Consumer Services
61%similar
revenue growthdebt/equity
VASA DENTICITYDENTALKART
Retail Trade
60%similar
revenuevolatility
WS INDUSTRIES (INDIA)WSI
Producer Manufacturing
60%similar
EPS growthROCE
KIRI INDUSTRIESKIRIINDUS
Process Industries
59%similar
ROCEoperating margin
IRM ENERGYIRMENERGY
Energy Minerals
8%similar
volatilitydebt/equity
ASIAN ENERGY SERVICESASIANENE
Energy Minerals
0%similar
market capoperating margin
GUJARAT MINERAL DEVELOPMENT COGMDCLTD
Energy Minerals
0%similar
volatilitydebt/equity

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

What changed?

30 events since Aug '23

  1. SepValuationP/E crossed above the 90th percentile of its own history to date (90.3x).
  2. SepPeer rankSlipped to the 3rd quartile of Energy Minerals on operating margin (from the top quartile).
  3. SepPriceVolume reached 81.2x its 50-day median on 2026-09-03; price +11.0% that day.
  4. JunPeer rankSlipped to the bottom quartile of Energy Minerals on ROCE (from the 3rd quartile).
  5. AprPriceVolume reached 17.4x its 50-day median on 2026-04-07; price +14.4% that day.
  6. MarPriceFell 59% from the Aug 2024 peak to the Mar 2026 low.
  7. MarPeer rankMoved into the top quartile of Energy Minerals on operating margin (from the 3rd quartile).
  8. MarPriceVolume reached 28.0x its 50-day median on 2026-03-09; price +5.7% that day.
Show 22 earlier events
  1. DecPeer rankSlipped to the 3rd quartile of Energy Minerals on operating margin (from the top quartile).
  2. OctPriceVolume reached 5.4x its 50-day median on 2025-10-28; price -5.8% that day.
  3. SepPeer rankMoved into the top quartile of Energy Minerals on operating margin (from the 2nd quartile).
  4. SepPriceVolume reached 6.4x its 50-day median on 2025-09-17; price +3.4% that day.
  5. JunPeer rankSlipped to the 2nd quartile of Energy Minerals on operating margin (from the top quartile).
  6. JunPriceVolume reached 10.4x its 50-day median on 2025-06-13; price +0.8% that day.
  7. JanDebtDebt / equity halved over 12 months to 0.15x.
  8. DecResultsYear-on-year EPS growth turned negative.
  9. DecPeer rankSlipped to the 3rd quartile of Energy Minerals on ROCE (from the 2nd quartile).
  10. SepPeer rankSlipped to the 3rd quartile of Energy Minerals on EPS growth (from the 2nd quartile).
  11. JulPriceRegained the 2023-08 peak, 10 months after the low.
  12. JulPriceVolume reached 6.8x its 50-day median on 2024-07-12; price +3.4% that day.
  13. JunResultsRevenue (TTM) reached a new high of ₹749 cr.
  14. JunPeer rankSlipped to the 2nd quartile of Energy Minerals on EPS growth (from the top quartile).
  15. JunDebtDebt / equity halved over 12 months to 0.15x.
  16. JunPriceVolume reached 5.2x its 50-day median on 2024-06-24; price +5.1% that day.
  17. MarInstitutionsFII + DII holding fell 3.1 pts over 1 quarter to 1.9%.
  18. FebPriceVolume reached 10.9x its 50-day median on 2024-02-15; price +11.5% that day.
  19. DecPriceVolume reached 16.2x its 50-day median on 2023-12-20; price +3.6% that day.
  20. SepPriceFell 39% from the Aug 2023 peak to the Sep 2023 low.
  21. SepPriceVolume reached 12.9x its 50-day median on 2023-09-28; price +10.0% that day.
  22. AugPriceRegained the 2022-01 peak, 5 months after the low.

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
2026-1182.0x₹299 cr1.8%3.0%0.0x
2026-1080.6x₹299 cr1.8%3.0%0.0x
2026-0990.3x₹299 cr1.8%3.0%0.0x
2026-0834.1x₹263 cr4.5%3.0%0.0x
2026-0734.0x₹263 cr4.5%3.0%0.0x
2026-0633.9x₹263 cr4.5%3.0%0.0x
2026-0520.0x₹512 cr8.0%12.0%0.1x
2026-0419.8x₹512 cr8.0%12.0%0.1x
2026-0314.7x₹512 cr8.0%12.0%0.1x
2026-0212.3x₹584 cr10.7%12.0%0.1x
2026-0114.6x₹584 cr10.7%12.0%0.1x
2025-1214.6x₹584 cr10.7%12.0%0.1x
2025-1112.8x₹363 cr11.3%12.0%0.1x
2025-1013.6x₹363 cr11.3%12.0%0.1x
2025-0915.1x₹363 cr11.3%12.0%0.1x
2025-0815.0x₹421 cr11.1%12.0%0.1x
2025-0714.9x₹421 cr11.1%12.0%0.1x
2025-0615.2x₹421 cr11.1%12.0%0.1x
2025-0513.8x₹667 cr14.2%18.0%0.1x
2025-0414.5x₹667 cr14.2%18.0%0.1x
2025-0313.6x₹667 cr14.2%18.0%0.1x
2025-0214.0x₹700 cr14.5%18.0%0.1x
2025-0115.4x₹700 cr14.5%18.0%0.1x
2024-1214.3x₹700 cr14.5%18.0%0.1x
2024-1112.5x₹718 cr17.2%18.0%0.1x
2024-1013.5x₹718 cr17.2%18.0%0.1x
2024-0915.1x₹718 cr17.2%18.0%0.1x
2024-0815.3x₹749 cr19.3%18.0%0.1x
2024-0715.9x₹749 cr19.3%18.0%0.1x
2024-0611.4x₹749 cr19.3%18.0%0.1x
2024-0513.1x₹558 cr20.5%20.0%0.4x
2024-0414.7x₹558 cr20.5%20.0%0.4x
2024-0312.1x₹558 cr20.5%20.0%0.4x
2024-0213.0x₹558 cr20.5%20.0%0.4x
2024-0112.8x₹558 cr20.5%20.0%0.4x
2023-1212.4x₹558 cr20.5%20.0%0.4x
2023-1111.0x₹558 cr20.5%20.0%0.4x
2023-1011.2x₹558 cr20.5%20.0%0.4x
2023-0911.8x₹558 cr20.5%20.0%0.4x
2023-0811.2x₹558 cr20.5%20.0%0.4x
2023-0715.6x₹558 cr20.5%20.0%0.4x
2023-0614.0x₹558 cr20.5%20.0%0.4x
2023-05120.2x₹156 cr2.7%6.0%0.5x
2023-04108.9x₹156 cr2.7%6.0%0.5x
2023-0379.6x₹156 cr2.7%6.0%0.5x
2023-0291.6x₹156 cr2.7%6.0%0.5x
2023-0186.2x₹156 cr2.7%6.0%0.5x
2022-1291.0x₹156 cr2.7%6.0%0.5x
2022-1195.0x₹156 cr2.7%6.0%0.5x
2022-1091.6x₹156 cr2.7%6.0%0.5x
2022-0988.1x₹156 cr2.7%6.0%0.5x
2022-08108.3x₹156 cr2.7%6.0%0.5x
2022-07115.6x₹156 cr2.7%6.0%0.5x
2022-06123.8x₹156 cr2.7%6.0%0.5x
2022-0544.0x₹114 cr7.2%5.0%0.3x
2022-0450.2x₹114 cr7.2%5.0%0.3x
2022-0354.4x₹114 cr7.2%5.0%0.3x
2022-0247.9x₹114 cr7.2%5.0%0.3x
2022-0154.1x₹114 cr7.2%5.0%0.3x
2021-1245.2x₹114 cr7.2%5.0%0.3x
2021-1138.8x₹114 cr7.2%5.0%0.3x
2021-1041.7x₹114 cr7.2%5.0%0.3x
2021-0952.3x₹114 cr7.2%5.0%0.3x
2021-0841.1x₹114 cr7.2%5.0%0.3x
2021-0731.1x₹114 cr7.2%5.0%0.3x
2021-0629.5x₹114 cr7.2%5.0%0.3x
2021-059.9x₹202 cr20.3%18.0%0.1x
2021-049.8x₹202 cr20.3%18.0%0.1x
2021-039.3x₹202 cr20.3%18.0%0.1x
2021-029.4x₹202 cr20.3%18.0%0.1x
2021-017.6x₹202 cr20.3%18.0%0.1x
2020-128.3x₹202 cr20.3%18.0%0.1x
2020-117.4x₹202 cr20.3%18.0%0.1x
2020-106.1x₹202 cr20.3%18.0%0.1x
2020-097.0x₹202 cr20.3%18.0%0.1x
2020-087.2x₹202 cr20.3%18.0%0.1x
2020-076.2x₹202 cr20.3%18.0%0.1x
2020-066.3x₹202 cr20.3%18.0%0.1x
2020-054.2x₹265 cr29.0%33.0%0.0x
2020-043.3x₹265 cr29.0%33.0%0.0x
2020-032.9x₹265 cr29.0%33.0%0.0x
2020-026.2x₹265 cr29.0%33.0%0.0x
2020-018.6x₹265 cr29.0%33.0%0.0x
2019-127.6x₹265 cr29.0%33.0%0.0x
2019-117.7x₹265 cr29.0%33.0%0.0x
2019-108.3x₹265 cr29.0%33.0%0.0x
2019-098.2x₹265 cr29.0%33.0%0.0x
2019-088.0x₹265 cr29.0%33.0%0.0x
2019-079.6x₹265 cr29.0%33.0%0.0x
2019-0610.3x₹265 cr29.0%33.0%0.0x
2019-0544.8x₹49 cr9.9%9.0%0.0x
2019-0443.1x₹49 cr9.9%9.0%0.0x
2019-0345.0x₹49 cr9.9%9.0%0.0x
2019-0239.9x₹49 cr9.9%9.0%0.0x
2019-0138.0x₹49 cr9.9%9.0%0.0x

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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