Share price
₹220.62 latest close · +2.3% over the last 90 sessions
₹220.62 month-end · +0.7% over 12 months
₹220.62 month-end · −26.8% over 3 years
₹220.62 month-end · +28.5% since Jan '19
52-week range ₹148.60 to ₹330.00 · 1-year volatility 48.6%
Was the rally earned?
- The share price was roughly flat over 1 year (+1%).
- The share count barely moved.
Mostly the multiple.
- Most of the fall came from investors paying a lower multiple (P/E 25.9x to 19.0x); per-share earnings added 0 points.
- The share count barely moved.
- The share price was roughly flat over 5 years (-1%).
- The share count barely moved.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-66.0% (2024-08 peak to 2026-03 low, not yet recovered)
-56.2% (2021-02 peak to 2022-03 low, recovered 2024-01)
-41.7% (2020-02 peak to 2020-03 low, recovered 2020-08)
Most recent volume spikes
2026-10-30: 5.5x the 50-day median, price -13.5% that day
2026-10-29: 23.6x the 50-day median, price +4.3% that day
2026-10-28: 15.4x the 50-day median, price +20.0% 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?
Usual range 15.5x to 26.6x since 2019-01.
Close to the Process Industries median.
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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.
Where does it rank among Process Industries peers?
Each cell is the company's percentile rank among its Process Industries 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
- Op. margin43rd▼ 7 pts vs a year ago
- Revenue growth27th▼ 4 pts vs a year ago
- EPS growth39th▼ 9 pts vs a year ago
- Debt/equity ↓36thflat vs a year ago
- P/E ↓47th▼ 8 pts vs a year ago
- 12M momentum63rd▲ 16 pts vs a year ago
Rank history
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 Process Industries sector page Watch it move against Process Industries in the Observatory
What is the price implying?
At a P/E of 27.0x, the price would imply about 16.9%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Earnings figures have not updated recently, so the company is left out of the lists.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹220.62
- P/E
- 19.0x
- Market Cap
- ₹1667 cr
- Revenue (TTM)
- ₹2178 cr
- P/S
- 0.8x
- P/B
- 2.5x
- ROE
- 13.0%
- Operating Margin
- 10.0%
- Debt / Equity
- 0.6x
- Promoter Holding
- 67.7%
- 12M Momentum
- 0.7%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance12%Within range
Other income as a share of pre-tax profit (trailing twelve months): 12.1%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate43%Near threshold
Median quarterly effective tax rate over about 2.5 years: 43.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion1.22xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.22x (cash from operations ₹208 cr, net profit ₹171 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow3 of 3 yrsWithin range
Fiscal years with positive free cash flow in the last 3: 3. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history—Not enough data
Not enough reported data to compute this.
Capital work in progress0% of fixed assetsWithin range
Capital work-in-progress is 0% 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.
Who has been buying and selling?
- Over 3 years, FIIs trimmed 0.8 pts.
- The number of shareholders rose from 26,830 to 35,339 (+32%) between Sep 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like HUHTAMAKI INDIA LTD today on valuation, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −14% to +75% vs the market, against −2% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +15.4%, 80% range +1.9% to +22.4%), but the matches cluster in only 6 distinct 12-month windows.
Where the 50 outcomes landed
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 · 6 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 35 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| JBMA Producer Manufacturing |
Jul 2020 | 13x | 12% | +15% | −35% | +64% |
| RATNAVEER Non-Energy Minerals |
Sep 2025 | 21x | — | −16% | −40% | +109% |
| KAMDHENU Non-Energy Minerals |
Dec 2021 | 24x | 15% | +90% | −17% | +60% |
| WABAG Industrial Services |
Apr 2021 | 15x | 14% | +92% | −14% | −5% |
| NELCAST Non-Energy Minerals |
Sep 2025 | 26x | 10% | −9% | −28% | −2% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| FILATEX Process Industries |
Apr 2024 | 33x | 17% | +75% | −13% | −34% |
| RGL Consumer Durables |
Mar 2025 | 17x | 8% | +24% | −39% | −19% |
| JAYBARMARU Distribution Services |
Jul 2020 | 13x | 10% | +21% | −35% | +63% |
How reliable is this?
Matched on P/E, P/S, 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, P/S and size. Not used (unavailable for this company): 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.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Feb '22
- OctPriceVolume reached 23.6x its 50-day median on 2026-10-29; price +4.3% that day.
- JulPriceVolume reached 187.3x its 50-day median on 2026-07-22; price +10.5% that day.
- JunPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
- JunPriceVolume reached 7.1x its 50-day median on 2026-06-22; price +4.2% that day.
- MarPriceFell 66% from the Aug 2024 peak to the Mar 2026 low.
- FebPriceVolume reached 11.3x its 50-day median on 2026-02-11; price +0.1% that day.
- JanValuationP/E fell below the 10th percentile of its own history to date (15.5x).
- OctPriceVolume reached 182.5x its 50-day median on 2025-10-16; price +12.6% that day.
Show 22 earlier events
- SepPriceVolume reached 19.2x its 50-day median on 2025-09-17; price +1.6% that day.
- JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
- AprPriceVolume reached 17.4x its 50-day median on 2025-04-23; price +4.4% that day.
- FebValuationP/E fell below the 10th percentile of its own history to date (15.1x).
- FebPriceVolume reached 6.1x its 50-day median on 2025-02-12; price -6.7% that day.
- AugPriceVolume reached 13.2x its 50-day median on 2024-08-05; price +6.2% that day.
- JunPriceVolume reached 20.3x its 50-day median on 2024-06-21; price +7.8% that day.
- AprValuationP/E crossed above the 90th percentile of its own history to date (26.6x).
- JanPriceRegained the 2021-02 peak, 22 months after the low.
- JanPriceVolume reached 12.5x its 50-day median on 2024-01-09; price +6.7% that day.
- NovValuationP/E crossed above the 90th percentile of its own history to date (25.9x).
- OctPriceVolume reached 100.7x its 50-day median on 2023-10-18; price +8.7% that day.
- JulPriceVolume reached 7.9x its 50-day median on 2023-07-18; price -7.2% that day.
- JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
- MayPriceVolume reached 24.8x its 50-day median on 2023-05-18; price +7.9% that day.
- FebPriceVolume reached 9.2x its 50-day median on 2023-02-07; price +5.1% that day.
- DecPriceVolume reached 22.9x its 50-day median on 2022-12-22; price +12.3% that day.
- JulPriceVolume reached 31.3x its 50-day median on 2022-07-27; price +7.9% that day.
- AprPriceVolume reached 11.3x its 50-day median on 2022-04-29; price +4.7% that day.
- MarPriceFell 56% from the Feb 2021 peak to the Mar 2022 low.
- MarPriceVolume reached 19.3x its 50-day median on 2022-03-16; price +5.3% that day.
- FebValuationP/E fell below the 10th percentile of its own history to date (14.6x).
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
| Month | P/E | Revenue (TTM) | ROE | Debt / Equity |
|---|---|---|---|---|
| 2026-11 | 19.0x | ₹2178 cr | 13.0% | 0.6x |
| 2026-10 | 17.8x | ₹2178 cr | 13.1% | 0.6x |
| 2026-09 | 20.4x | ₹2178 cr | 13.1% | 0.6x |
| 2026-08 | 22.6x | ₹2178 cr | 13.1% | 0.6x |
| 2026-07 | 25.6x | ₹2178 cr | 13.1% | 0.6x |
| 2026-06 | 17.0x | ₹2178 cr | 13.1% | 0.6x |
| 2026-05 | 14.1x | ₹2178 cr | 13.1% | 0.6x |
| 2026-04 | 15.4x | ₹2178 cr | 13.1% | 0.6x |
| 2026-03 | 12.9x | ₹2178 cr | 13.1% | 0.6x |
| 2026-02 | 15.2x | ₹2178 cr | 13.1% | 0.6x |
| 2026-01 | 15.5x | ₹2178 cr | 13.1% | 0.6x |
| 2025-12 | 18.2x | ₹2178 cr | 13.1% | 0.6x |
| 2025-11 | 18.8x | ₹2178 cr | 13.1% | 0.6x |
| 2025-10 | 21.0x | ₹2178 cr | 13.1% | 0.6x |
| 2025-09 | 20.1x | ₹2178 cr | 13.1% | 0.6x |
| 2025-08 | 18.5x | ₹2178 cr | 13.1% | 0.6x |
| 2025-07 | 18.9x | ₹2178 cr | 13.1% | 0.6x |
| 2025-06 | 18.2x | ₹2178 cr | 13.1% | 0.6x |
| 2025-05 | 17.7x | ₹2178 cr | 13.1% | 0.6x |
| 2025-04 | 16.4x | ₹2178 cr | 13.1% | 0.6x |
| 2025-03 | 15.5x | ₹2178 cr | 13.1% | 0.6x |
| 2025-02 | 15.1x | ₹2178 cr | 13.1% | 0.6x |
| 2025-01 | 19.4x | ₹2178 cr | 13.1% | 0.6x |
| 2024-12 | 23.5x | ₹2178 cr | 13.1% | 0.6x |
| 2024-11 | 24.5x | ₹2178 cr | 13.1% | 0.6x |
| 2024-10 | 24.5x | ₹2178 cr | 13.1% | 0.6x |
| 2024-09 | 33.1x | ₹2178 cr | 13.1% | 0.6x |
| 2024-08 | 35.0x | ₹2178 cr | 13.1% | 0.6x |
| 2024-07 | 33.0x | ₹2178 cr | 13.1% | 0.6x |
| 2024-06 | 31.0x | ₹2178 cr | 13.1% | 0.6x |
| 2024-05 | 26.7x | ₹2178 cr | 13.1% | 0.6x |
| 2024-04 | 26.6x | ₹2178 cr | 13.1% | 0.6x |
| 2024-03 | 25.7x | ₹2178 cr | 13.1% | 0.6x |
| 2024-02 | 28.8x | ₹2178 cr | 13.1% | 0.6x |
| 2024-01 | 27.8x | ₹2178 cr | 13.1% | 0.6x |
| 2023-12 | 24.7x | ₹2178 cr | 13.1% | 0.6x |
| 2023-11 | 25.9x | ₹2178 cr | 13.1% | 0.6x |
| 2023-10 | 24.2x | ₹2178 cr | 13.1% | 0.6x |
| 2023-09 | 22.1x | ₹2178 cr | 13.1% | 0.6x |
| 2023-08 | 22.6x | ₹2178 cr | 13.1% | 0.6x |
| 2023-07 | 22.7x | ₹2178 cr | 13.1% | 0.6x |
| 2023-06 | 23.5x | ₹2178 cr | 13.1% | 0.6x |
| 2023-05 | 24.5x | ₹2178 cr | 13.1% | 0.6x |
| 2023-04 | 19.6x | ₹2178 cr | 13.1% | 0.6x |
| 2023-03 | 16.3x | ₹2178 cr | 13.1% | 0.6x |
| 2023-02 | 17.0x | ₹2178 cr | 13.1% | 0.6x |
| 2023-01 | 16.9x | ₹2178 cr | 13.1% | 0.6x |
| 2022-12 | 17.1x | ₹2178 cr | 13.1% | 0.6x |
| 2022-11 | 16.8x | ₹2178 cr | 13.1% | 0.6x |
| 2022-10 | 18.8x | ₹2178 cr | 13.1% | 0.6x |
| 2022-09 | 18.8x | ₹2178 cr | 13.1% | 0.6x |
| 2022-08 | 16.2x | ₹2178 cr | 13.1% | 0.6x |
| 2022-07 | 16.8x | ₹2178 cr | 13.1% | 0.6x |
| 2022-06 | 14.2x | ₹2178 cr | 13.1% | 0.6x |
| 2022-05 | 14.5x | ₹2178 cr | 13.1% | 0.6x |
| 2022-04 | 17.0x | ₹2178 cr | 13.1% | 0.6x |
| 2022-03 | 13.0x | ₹2178 cr | 13.1% | 0.6x |
| 2022-02 | 14.6x | ₹2178 cr | 13.1% | 0.6x |
| 2022-01 | 17.5x | ₹2178 cr | 13.1% | 0.6x |
| 2021-12 | 19.6x | ₹2178 cr | 13.1% | 0.6x |
| 2021-11 | 19.1x | ₹2178 cr | 13.1% | 0.6x |
| 2021-10 | 20.4x | ₹2178 cr | 13.1% | 0.6x |
| 2021-09 | 22.8x | ₹2178 cr | 13.1% | 0.6x |
| 2021-08 | 22.8x | ₹2178 cr | 13.1% | 0.6x |
| 2021-07 | 25.9x | ₹2178 cr | 13.1% | 0.6x |
| 2021-06 | 25.3x | ₹2178 cr | 13.1% | 0.6x |
| 2021-05 | 23.9x | ₹2178 cr | 13.1% | 0.6x |
| 2021-04 | 23.5x | ₹2178 cr | 13.1% | 0.6x |
| 2021-03 | 24.1x | ₹2178 cr | 13.1% | 0.6x |
| 2021-02 | 24.8x | ₹2178 cr | 13.1% | 0.6x |
| 2021-01 | 26.0x | ₹2178 cr | 13.1% | 0.6x |
| 2020-12 | 27.0x | ₹2178 cr | 13.1% | 0.6x |
| 2020-11 | 26.6x | ₹2178 cr | 13.1% | 0.6x |
| 2020-10 | 23.7x | ₹2178 cr | 13.1% | 0.6x |
| 2020-09 | 26.7x | ₹2178 cr | 13.1% | 0.6x |
| 2020-08 | 22.2x | ₹2178 cr | 13.1% | 0.6x |
| 2020-07 | 20.8x | ₹2178 cr | 13.1% | 0.6x |
| 2020-06 | 17.5x | ₹2178 cr | 13.1% | 0.6x |
| 2020-05 | 17.0x | ₹2178 cr | 13.1% | 0.6x |
| 2020-04 | 17.9x | ₹2178 cr | 13.1% | 0.6x |
| 2020-03 | 16.8x | ₹2178 cr | 13.1% | 0.6x |
| 2020-02 | 22.7x | ₹2178 cr | 13.1% | 0.6x |
| 2020-01 | 21.6x | ₹2178 cr | 13.1% | 0.6x |
| 2019-12 | 21.2x | ₹2178 cr | 13.1% | 0.6x |
| 2019-11 | 21.3x | ₹2178 cr | 13.1% | 0.6x |
| 2019-10 | 21.9x | ₹2178 cr | 13.1% | 0.6x |
| 2019-09 | 21.0x | ₹2178 cr | 13.1% | 0.6x |
| 2019-08 | 18.1x | ₹2178 cr | 13.1% | 0.6x |
| 2019-07 | 19.3x | ₹2178 cr | 13.1% | 0.6x |
| 2019-06 | 22.2x | ₹2178 cr | 13.1% | 0.6x |
| 2019-05 | 22.3x | ₹2178 cr | 13.1% | 0.6x |
| 2019-04 | 19.3x | ₹2178 cr | 13.1% | 0.6x |
| 2019-03 | 16.8x | ₹2178 cr | 13.1% | 0.6x |
| 2019-02 | 16.5x | ₹2178 cr | 13.1% | 0.6x |
| 2019-01 | 14.8x | ₹2178 cr | 13.1% | 0.6x |