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HMA AGRO INDUSTRIES LIMITED (HMAAGRO)

Distribution Services · Food Distributors · 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.49 / 100
Profitability 44Growth 78Balance sheet 25
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.83 / 100
Price 92Earnings 73

Passes these screensValue PickConsistent compounders

Compare withPROVENTUS AGROCOMSTATE TRADING CORPORATION OF ISHREEJI GLOBAL FMCG

Share price

Closing priceAdjusted for splits and bonus issues.

₹27.08 latest close · +22.0% over the last 90 sessions

₹20₹25Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹20₹25Jul 3Sep 4Nov 9

₹27.08 month-end · −9.5% over 12 months

₹20₹25₹30Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹20₹25₹30Nov '25May '26Nov '26

₹27.08 month-end · −58.3% over 3 years

₹20₹40₹60₹80Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹20₹40₹60₹80Nov '23May '25Nov '26

₹27.08 month-end · −55.2% since Jul '23

₹20₹40₹60₹80Jul '23Mar '24Nov '24Jul '25Mar '26Nov '26 ₹20₹40₹60₹80Jul '23Mar '25Nov '26

52-week range ₹19.09 to ₹34.24 · 1-year volatility 42.9%

Was the rally earned?

-10%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 86 points, but investors now pay less per rupee of profit (P/E 17.3x to 6.3x), which took 96 points back.
  • The share count barely moved.
Net profit growth: +86 pts. Points of the price return explained by net profit growing (or shrinking).+86 ptsNet profit growthP/E change: −96 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−96 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: −9%−9%Share priceNet profit growth: +86 pts. Points of the price return explained by net profit growing (or shrinking).+86ProfitP/E change: −96 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−96P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −9%−9%Share price
Net profit growth+86 ptsNet profit rose about 146%, which lifts the price.
P/E change-96 ptsThe P/E fell from 17.3x to 6.3x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-58%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 35 points, but investors now pay less per rupee of profit (P/E 25.7x to 6.3x), which took 93 points back.
  • The share count rose 3%.
Net profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37 ptsNet profit growthP/E change: −93 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−93 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: −58%−58%Share priceNet profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37ProfitP/E change: −93 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−93P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −58%−58%Share price
Net profit growth+37 ptsNet profit rose about 74%, which lifts the price.
P/E change-93 ptsThe P/E fell from 25.7x to 6.3x, which lowers the price.
Share count change-2 ptsShare count rose 3%, which lowers the price.
What do "pts" mean?

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

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

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 PROVENTUS AGROCOM

How rough has the ride been?

Maximum drawdown-76.2%not yet recovered
1-year volatility42.9%annualised
Beta vs sector index0.313-year daily, correlation 0.26
Volume spikes21last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%202420252026−76.1% 0%−25%−50%−75%202420252026−76.1%
Largest drawdowns

-76.2% (2023-12 peak to 2026-09 low, not yet recovered)

-24.9% (2023-09 peak to 2023-12 low, recovered 2023-12)

Most recent volume spikes

2026-11-04: 12.1x the 50-day median, price +13.5% that day

2026-10-14: 7x the 50-day median, price +7.9% that day

2026-09-21: 5.3x the 50-day median, price +0.8% 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?

6.3xP/E todayNear its historic low
Against its own history10th percentile
CheapestMedian 18.8xDearest

Usual range 6.4x to 29.6x since 2023-07.

Against Distribution Services6.3x vs 16.7x
This company
6.3x
Sector median
16.7x

62% below the Distribution Services median.

5.6x19.3x33.0x46.7xJul '23Mar '24Nov '24Jul '25Mar '26Nov '265.6x19.3x33.0x46.7xJul '23Sep '24Nov '25Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianDistribution Services median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianDistribution Services median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Distribution Services is valued

Where does it rank among Distribution Services peers?

Each cell is the company's percentile rank among its Distribution Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE72nd▲ 13 pts vs a year ago
  • Op. margin16th▼ 4 pts vs a year ago
  • Revenue growth91st▲ 19 pts vs a year ago
  • EPS growth95th▲ 23 pts vs a year ago
  • Debt/equity ↓21st▼ 13 pts vs a year ago
  • Cash cycle ↓57th▼ 6 pts vs a year ago
  • P/E ↓92nd▲ 25 pts vs a year ago
  • 12M momentum58th▲ 22 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 Distribution Services sector page Watch it move against Distribution Services in the Observatory

What is the price implying?

~9%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 11.5x, a holder earning 12%/yr needs earnings to grow about 9.1%/yr for 10 years, then trade at 15x.

Delivered17.5%/yrEPS, last 8 fiscal years · 3-yr avg to 3-yr avg
Gap−8.4 ptsimplied minus delivered
Rank684thmost demanding of 856

Over time

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

0%15%30% Jul 2023Nov 2026 0%15%30% Jul 2023Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x10.6%11.5%12.5%
15x8.1%9.1%10.1%
20x5.0%6.0%6.9%

Drag a slider to test other assumptions

Implied: 9.1%/yr

“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 Distribution Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹27.08
P/E
6.3x
ROCE
16.0%
Market Cap
₹1354 cr
Revenue (TTM)
₹7903 cr
P/S
0.2x
P/B
1.4x
ROE
22.7%
Operating Margin
0.4%
Debt / Equity
0.9x
Promoter Holding
75.0%
12M Momentum
-9.5%

52-week range

₹19.09₹34.24
53% of the way from its 52-week low to its high

Price risk

1Y volatility
42.9%
Beta vs sector
1-year daily
0.37

Balance sheet & cash

Interest cover
operating profit ÷ interest
8.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.36x
low
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 7checks within range2 beyond a threshold
Other income reliance67%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 66.7%. 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 conversion-0.36xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.36x (cash from operations ₹-127 cr, net profit ₹354 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-33 daysWithin range

Debtor days are below the median of the previous three fiscal years by 33 days (1 vs 34). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress23% of fixed assetsWithin range

Capital work-in-progress is 23% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-4 days / 2 yrsWithin range

Days payable changed by -4 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, promoters trimmed 8.6 pts; DIIs added 3.5 pts; FIIs trimmed 2.6 pts.
  • The number of shareholders rose from 26,295 to 63,045 (+140%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters83.6%75.0%-8.6 pts
FIIs7.4%4.8%-2.6 pts
DIIs0.0%3.5%+3.5 pts
Public and others9.0%16.7%+7.7 pts

Number of shareholders

63,045shareholders+140% since Dec '23
26k39k53k66k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 26,295
Mar '24: 54,339
Jun '24: 58,980
Sep '24: 60,576
Dec '24: 65,748
Mar '25: 65,002
Jun '25: 65,498
Sep '25: 64,975
Dec '25: 64,471
Mar '26: 62,967
Jun '26: 63,045
 26k39k53k66k Dec '23Dec '24Dec '25Jun '26
Dec '23: 26,295
Mar '24: 54,339
Jun '24: 58,980
Sep '24: 60,576
Dec '24: 65,748
Mar '25: 65,002
Jun '25: 65,498
Sep '25: 64,975
Dec '25: 64,471
Mar '26: 62,967
Jun '26: 63,045

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+8.4%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 HMA AGRO INDUSTRIES 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 −25% to +49% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+9.0%, 80% range −4.4% to +14.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
TNPL · Jan 2024: −51.6% vs market
RANASUG · Sep 2023: −43.4% vs market
BANSWRAS · Aug 2023: −39.7% vs market
ALLCARGO · Dec 2022: −37.2% vs market
RSWM · Jul 2022: −30.8% vs market
MANINDS · Jun 2021: −30.8% vs market
SUTLEJTEX · Aug 2022: −30.2% vs market
EMAMIPAP · Sep 2022: −29.2% vs market
RAIN · Apr 2023: −27.3% vs market
UFLEX · Feb 2022: −26.5% vs market
JKTYRE · Jul 2021: −26.2% vs market
MADRASFERT · Jan 2024: −25.0% vs market
RAYMOND · Mar 2024: −24.7% vs market
ZUARI · Jan 2024: −24.5% vs market
JINDALSAW · Feb 2020: −23.1% vs market
BCLIND · Sep 2025: −21.9% vs market
RPSGVENT · Jun 2021: −12.3% vs market
PARADEEP · May 2023: −9.8% vs market
NFL · May 2024: −8.8% vs market
PTC · Apr 2021: −8.2% vs market
RANEHOLDIN · Sep 2025: −3.5% vs market
JAYAGROGN · Jun 2022: −3.2% vs market
IVP · Oct 2023: −2.2% vs market
TOTAL · Sep 2025: −0.9% vs market
NITINSPIN · Jun 2024: +8.0% vs market
PGIL · Apr 2020: +8.8% vs market
NRAIL · Jun 2022: +10.7% vs market
INDIAGLYCO · Jan 2020: +12.1% vs market
RCF · Jul 2022: +14.3% vs market
TVSHLTD · Mar 2020: +14.9% vs market
RPTECH · Mar 2025: +22.1% vs market
BHARATGEAR · Jul 2022: +25.3% vs market
LTFOODS · Mar 2022: +30.1% vs market
ORIENTPPR · Oct 2021: +31.7% vs market
MAWANASUG · Jun 2021: +32.4% vs market
SPIC · Mar 2020: +38.3% vs market
GOODLUCK · Jul 2022: +43.8% vs market
HINDPETRO · Mar 2023: +50.6% vs market
MAGADSUGAR · Sep 2020: +53.6% vs market
REDINGTON · Dec 2020: +62.3% vs market
MWL · Jan 2025: +68.9% vs market
CHENNPETRO · May 2023: +70.2% vs market
GOKULAGRO · Jun 2024: +74.2% vs market
MRPL · Jul 2023: +80.0% vs market
AVADHSUGAR · May 2021: +83.9% vs market
KIRLOSIND · Aug 2022: +110.8% vs market
DHAMPURSUG · Mar 2021: +136.9% vs market
TRIVENI · Mar 2021: +197.9% vs market
RVNL · May 2022: +239.3% vs market
ELECTCAST · Jan 2023: +240.3% vs market
Similar setups +8.4%All companies −0.6%← 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
+8.4%
All companies' median
−0.6%
Beat the market
52% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RPTECH
Distribution Services		 Mar 2025 10x14% −9%−37% +22%
RAIN
Process Industries		 Apr 2023 4x17% −5%−20% −27%
UFLEX
Process Industries		 Feb 2022 5x15% +43%−19% −27%
RSWM
Process Industries		 Jul 2022 5x18% −2%−29% −31%
TNPL
Process Industries		 Jan 2024 6x21% +34%−1% −52%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RCF
Process Industries		 Jul 2022 7x15% +4%−20% +14%
MRPL
Energy Minerals		 Jul 2023 5x20% +14%−8% +80%
NFL
Process Industries		 May 2024 11x16% +54%−19% −9%
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: 12-month momentum, ROCE and revenue growth. 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 HMA AGRO INDUSTRIES 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.

MANGALAM GLOBAL ENTERPRISEMGEL
Process Industries
66%similar
revenue growthoperating margin
SANDHAR TECHNOLOGIESSANDHAR
Consumer Durables
63%similar
volatilitydebt/equity
MANOJ VAIBHAV GEMS JEWMVGJL
Retail Trade
62%similar
ROCEP/E
SENCO GOLDSENCO
Consumer Durables
57%similar
revenue growthvolatility
LUMAX INDUSTRIESLUMAXIND
Producer Manufacturing
51%similar
promoter holdingdebt/equity
RASHI PERIPHERALSRPTECH
Distribution Services
42%similar
operating marginROCE
REDINGTONREDINGTON
Distribution Services
28%similar
operating marginROCE
JAY BHARAT MARUTIJAYBARMARU
Distribution Services
24%similar
market capROCE

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

What changed?

29 events since Dec '23

  1. NovPriceVolume reached 12.1x its 50-day median on 2026-11-04; price +13.5% that day.
  2. SepPromoterPromoter holding fell 6.6 pts to 75.0%.
  3. SepPriceFell 76% from the Dec 2023 peak to the Sep 2026 low.
  4. SepPeer rankSlipped to the bottom quartile of Distribution Services on operating margin (from the 3rd quartile).
  5. SepPriceVolume reached 42.9x its 50-day median on 2026-09-15; price +16.6% that day.
  6. JunDividendDividend payout cut from 17% to 0% of profit.
  7. AprPriceVolume reached 54.1x its 50-day median on 2026-04-10; price +8.2% that day.
  8. MarPeer rankSlipped to the 3rd quartile of Distribution Services on operating margin (from the 2nd quartile).
Show 21 earlier events
  1. MarPriceVolume reached 10.0x its 50-day median on 2026-03-23; price -3.2% that day.
  2. DecPeer rankMoved into the 2nd quartile of Distribution Services on operating margin (from the bottom quartile).
  3. DecPriceVolume reached 14.1x its 50-day median on 2025-12-09; price +0.9% that day.
  4. NovValuationP/E fell below the 10th percentile of its own history to date (17.3x).
  5. OctPeer rankMoved into the 2nd quartile of Distribution Services on EPS growth (from the 3rd quartile).
  6. SepResultsYear-on-year EPS growth turned positive.
  7. SepPeer rankSlipped to the bottom quartile of Distribution Services on operating margin (from the 3rd quartile).
  8. AugPriceVolume reached 14.2x its 50-day median on 2025-08-12; price +4.1% that day.
  9. JulValuationP/E fell below the 10th percentile of its own history to date (17.5x).
  10. JunPriceVolume reached 36.3x its 50-day median on 2025-06-10; price -7.4% that day.
  11. MarPeer rankSlipped to the 3rd quartile of Distribution Services on operating margin (from the 2nd quartile).
  12. MarPriceVolume reached 11.4x its 50-day median on 2025-03-11; price +2.9% that day.
  13. DecResultsRevenue (TTM) reached a new high of ₹4,821 cr.
  14. DecPeer rankMoved into the 2nd quartile of Distribution Services on operating margin (from the 3rd quartile).
  15. NovPriceVolume reached 11.0x its 50-day median on 2024-11-12; price +10.0% that day.
  16. SepPeer rankSlipped to the bottom quartile of Distribution Services on EPS growth (from the 3rd quartile).
  17. SepPriceVolume reached 8.3x its 50-day median on 2024-09-05; price -0.4% that day.
  18. JunPeer rankSlipped to the 2nd quartile of Distribution Services on ROCE (from the top quartile).
  19. JunDividendStarted paying a dividend (payout 15% of profit).
  20. FebPriceVolume reached 12.6x its 50-day median on 2024-02-02; price +1.4% that day.
  21. DecPriceVolume reached 12.0x its 50-day median on 2023-12-13; price +9.2% 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 history41 months · 2023-07 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-116.3x₹7903 cr22.7%16.0%0.9x
2026-105.8x₹7903 cr23.0%16.0%0.9x
2026-095.6x₹7903 cr23.0%16.0%0.9x
2026-086.4x₹6916 cr17.6%16.0%0.9x
2026-076.2x₹6916 cr17.6%16.0%0.9x
2026-066.7x₹6916 cr17.6%16.0%0.9x
2026-056.9x₹6837 cr21.5%12.0%0.7x
2026-047.2x₹6837 cr21.5%12.0%0.7x
2026-036.4x₹6837 cr21.5%12.0%0.7x
2026-0210.4x₹6233 cr15.7%12.0%0.7x
2026-0110.4x₹6233 cr15.7%12.0%0.7x
2025-1211.7x₹6233 cr15.7%12.0%0.7x
2025-1117.3x₹5544 cr11.0%12.0%0.7x
2025-1018.2x₹5544 cr11.0%12.0%0.7x
2025-0917.8x₹5544 cr11.0%12.0%0.7x
2025-0817.3x₹5134 cr11.0%12.0%0.7x
2025-0717.5x₹5134 cr11.0%12.0%0.7x
2025-0618.4x₹5134 cr11.0%12.0%0.7x
2025-0524.0x₹5024 cr10.7%14.0%0.7x
2025-0421.4x₹5024 cr10.7%14.0%0.7x
2025-0318.7x₹5024 cr10.7%14.0%0.7x
2025-0216.0x₹4821 cr14.6%14.0%0.7x
2025-0118.8x₹4821 cr14.6%14.0%0.7x
2024-1219.8x₹4821 cr14.6%14.0%0.7x
2024-1137.6x₹4555 cr8.1%14.0%0.7x
2024-1036.9x₹4555 cr8.1%14.0%0.7x
2024-0941.1x₹4555 cr8.1%14.0%0.7x
2024-0825.3x₹4813 cr14.1%14.0%0.7x
2024-0726.6x₹4813 cr14.1%14.0%0.7x
2024-0627.0x₹4813 cr14.1%14.0%0.7x
2024-0520.5x₹3209 cr25.9%24.0%0.7x
2024-0424.1x₹3209 cr25.9%24.0%0.7x
2024-0320.2x₹3209 cr25.9%24.0%0.7x
2024-0228.2x₹3209 cr25.9%24.0%0.7x
2024-0128.4x₹3209 cr25.9%24.0%0.7x
2023-1233.2x₹3209 cr25.9%24.0%0.7x
2023-1125.7x₹3209 cr25.9%24.0%0.7x
2023-1027.3x₹3209 cr25.9%24.0%0.7x
2023-0929.6x₹3209 cr25.9%24.0%0.7x
2023-0827.5x₹3209 cr25.9%24.0%0.7x
2023-0723.9x₹3209 cr25.9%24.0%0.7x

Methodology and data notes

Methodology

Methodology and data notes

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

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

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

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