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INDIAN ENERGY EXCHANGE LIMITED (IEX)

Finance · Investment Banks/Brokers · 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.82 / 100
Profitability 94Growth 51Balance 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.30 / 100
Price 37Earnings 50FII/DII 2

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withBSEBILLIONBRAINS GARAGE VENTURESMULTI COMMODITY EXCHANGE

Share price

Closing priceAdjusted for splits and bonus issues.

₹112.74 latest close · −9.0% over the last 90 sessions

₹100₹110₹120₹130Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹100₹110₹120₹130Jul 3Sep 4Nov 9

₹112.74 month-end · −19.1% over 12 months

₹100₹120₹140Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹100₹120₹140Nov '25May '26Nov '26

₹112.74 month-end · −21.6% over 3 years

₹100₹150₹200Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹150₹200Nov '23May '25Nov '26

₹112.74 month-end · +134.6% since Jun '19

₹100₹200Jun '19Dec '20Jun '22Nov '23May '25Nov '26 ₹100₹200Jun '19Mar '23Nov '26

52-week range ₹99.50 to ₹160.27 · 1-year volatility 32.4%

Was the rally earned?

-19%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 10 points, but investors now pay less per rupee of profit (P/E 27.5x to 19.8x), which took 29 points back.
  • The share count barely moved.
Net profit growth: +10 pts. Points of the price return explained by net profit growing (or shrinking).+10 ptsNet profit growthP/E change: −29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−29 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: −19%−19%Share priceNet profit growth: +10 pts. Points of the price return explained by net profit growing (or shrinking).+10ProfitP/E change: −29 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−29P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −19%−19%Share price
Net profit growth+10 ptsNet profit rose about 12%, which lifts the price.
P/E change-29 ptsThe P/E fell from 27.5x to 19.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-22%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 45 points, but investors now pay less per rupee of profit (P/E 41.9x to 19.8x), which took 66 points back.
  • The share count barely moved.
Net profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45 ptsNet profit growthP/E change: −66 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−66 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: −22%−22%Share priceNet profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45ProfitP/E change: −66 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−66P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −22%−22%Share price
Net profit growth+45 ptsNet profit rose about 66%, which lifts the price.
P/E change-66 ptsThe P/E fell from 41.9x to 19.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-55%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 63 points, but investors now pay less per rupee of profit (P/E 108.4x to 19.8x), which took 117 points back.
  • The share count barely moved.
Net profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63 ptsNet profit growthP/E change: −117 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−117 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: −55%−55%Share priceNet profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63ProfitP/E change: −117 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−117P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −55%−55%Share price
Net profit growth+63 ptsNet profit rose about 147%, which lifts the price.
P/E change-117 ptsThe P/E fell from 108.4x to 19.8x, which lowers the price.
Share count change0 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 BSE

How rough has the ride been?

Maximum drawdown-65.8%not yet recovered
1-year volatility32.4%annualised
Beta vs sector index1.043-year daily, correlation 0.49
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−65.8% 0%−20%−40%−60%2020202220242026−65.8%
Largest drawdowns

-65.8% (2021-12 peak to 2026-10 low, not yet recovered)

-38.6% (2020-01 peak to 2020-03 low, recovered 2020-09)

-29.6% (2019-02 peak to 2019-09 low, recovered 2020-01)

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

19.8xP/E todayNear its historic low
Against its own history3rd percentile
CheapestMedian 39.4xDearest

Usual range 23.8x to 74.6x since 2019-06.

Against Finance19.8x vs 18.1x
This company
19.8x
Sector median
18.1x

9% above the Finance median.

9.5x43.1x76.8x110.4xJun '19Dec '20Jun '22Dec '23Jun '25Nov '269.5x43.1x76.8x110.4xJun '19Dec '21Jun '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianFinance 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 Finance is valued

Where does it rank among Finance peers?

Each cell is the company's percentile rank among its Finance 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

  • ROCE97thflat vs a year ago
  • Op. margin90th▲ 3 pts vs a year ago
  • Revenue growth51st▼ 17 pts vs a year ago
  • EPS growth56th▼ 14 pts vs a year ago
  • Debt/equity ↓73rdflat vs a year ago
  • Cash cycle ↓82ndflat vs a year ago
  • P/E ↓54th▲ 7 pts vs a year ago
  • 12M momentum46th▲ 7 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

~11%annual earnings growth implied by the priceBelow delivered growth

At P/E of 19.8x, a holder earning 12%/yr needs earnings to grow about 11.1%/yr for 10 years, then trade at 15x.

Delivered18.0%/yrEPS, last 8 fiscal years · fitted trend
Gap−6.9 ptsimplied minus delivered
Rank667thmost demanding of 856

Over time

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

0%18%35% Jun 2019Nov 2026 0%18%35% Jun 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x12.1%13.1%14.1%
15x10.1%11.1%12.1%
20x7.5%8.5%9.5%

Drag a slider to test other assumptions

Implied: 11.1%/yr

Looking back

  • Jan 2020Price implied 20%/yr; EPS has since grown 17%/yr (7.0 yrs)
  • Jan 2021Price implied 23%/yr; EPS has since grown 19%/yr (6.0 yrs)
  • Jan 2022Price implied 34%/yr; EPS has since grown 19%/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 Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹112.74
P/E
19.8x
ROCE
51.0%
Market Cap
₹10043 cr
Revenue (TTM)
₹632 cr
P/S
15.9x
P/B
7.4x
ROE
37.2%
Operating Margin
83.0%
Debt / Equity
0.0x
12M Momentum
-19.1%

52-week range

₹99.50₹160.27
22% of the way from its 52-week low to its high

Price risk

1Y volatility
32.4%
Beta vs sector
1-year daily
0.89

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.91x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance23%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 23.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.91xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.91x (cash from operations ₹1,158 cr, net profit ₹1,273 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-5 daysWithin range

Debtor days are below the median of the previous three fiscal years by 5 days (1 vs 6). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress5% of fixed assetsWithin range

Capital work-in-progress is 5% 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 added 8.9 pts; FIIs trimmed 1.5 pts.
  • The number of shareholders fell from 16.0 lakh to 14.0 lakh (-13%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters———
FIIs14.1%12.6%-1.5 pts
DIIs22.6%31.5%+8.9 pts
Public and others63.0%55.6%-7.3 pts

Number of shareholders

14.0 lakhshareholders-13% since Sep '23
13.9L14.6L15.3L16.0L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 16.0 lakh
Dec '23: 15.2 lakh
Mar '24: 16.0 lakh
Jun '24: 15.1 lakh
Sep '24: 14.7 lakh
Dec '24: 14.4 lakh
Mar '25: 14.1 lakh
Jun '25: 13.9 lakh
Sep '25: 14.4 lakh
Dec '25: 14.1 lakh
Mar '26: 14.1 lakh
Jun '26: 14.0 lakh
 13.9L14.6L15.3L16.0L Sep '23Sep '24Sep '25Jun '26
Sep '23: 16.0 lakh
Dec '23: 15.2 lakh
Mar '24: 16.0 lakh
Jun '24: 15.1 lakh
Sep '24: 14.7 lakh
Dec '24: 14.4 lakh
Mar '25: 14.1 lakh
Jun '25: 13.9 lakh
Sep '25: 14.4 lakh
Dec '25: 14.1 lakh
Mar '26: 14.1 lakh
Jun '26: 14.0 lakh

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

This quarter's smart-money board

What happened next to similar setups

−1.8%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 INDIAN ENERGY EXCHANGE 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 −24% to +14% vs the market, against +1% for all non-financial companies in the same months.
  • The gap against the base rate (−2.3%, 80% range −11.2% to +7.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%
TARSONS · Feb 2023: −47.3% vs market
THYROCARE · Dec 2021: −46.1% vs market
CARERATING · Jul 2021: −41.9% vs market
IGL · Feb 2021: −41.3% vs market
KSCL · Oct 2020: −35.6% vs market
INDIAMART · Sep 2025: −31.3% vs market
NESCO · Sep 2020: −31.1% vs market
CASTROLIND · Aug 2020: −29.8% vs market
VINATIORGA · Jun 2023: −28.9% vs market
IRCTC · Feb 2025: −28.1% vs market
RITES · Oct 2020: −25.9% vs market
SUMICHEM · Jun 2023: −24.9% vs market
DHANUKA · Apr 2021: −24.9% vs market
GANESHHOU · Jun 2025: −23.1% vs market
BAJAJ-AUTO · Mar 2021: −19.5% vs market
GLAXO · Jul 2022: −13.5% vs market
DIVISLAB · May 2023: −12.9% vs market
SWARAJENG · Jan 2020: −11.5% vs market
CLEAN · Jan 2024: −11.0% vs market
PGHL · Dec 2023: −10.0% vs market
HONAUT · Oct 2020: −7.7% vs market
OFSS · Jan 2020: −7.4% vs market
ERIS · Apr 2022: −6.0% vs market
PFIZER · Jan 2025: −5.2% vs market
SUNTV · Jul 2020: −4.4% vs market
SHANTIGEAR · Aug 2024: +0.8% vs market
MONARCH · Sep 2025: +6.8% vs market
CGPOWER · Aug 2024: +8.2% vs market
BAJAJCON · Mar 2020: +9.1% vs market
CAMS · May 2023: +9.3% vs market
INGERRAND · Oct 2023: +9.9% vs market
TRITURBINE · Jun 2020: +10.0% vs market
AJANTPHARM · Jun 2024: +10.2% vs market
EICHERMOT · Feb 2020: +10.6% vs market
TIPSMUSIC · Sep 2025: +11.4% vs market
NAVINFLUOR · May 2021: +12.6% vs market
JBCHEPHARM · Oct 2021: +14.0% vs market
CAPLIPOINT · Feb 2020: +14.1% vs market
GREAVESCOT · Apr 2020: +14.6% vs market
ATUL · Feb 2021: +17.6% vs market
EMAMILTD · Jul 2023: +19.6% vs market
GILLETTE · Jan 2024: +20.9% vs market
CRISIL · Aug 2024: +21.2% vs market
COHANCE · Nov 2022: +24.1% vs market
ABBOTINDIA · Mar 2022: +31.3% vs market
LAOPALA · Jan 2021: +32.1% vs market
LTTS · Jun 2020: +38.4% vs market
CDSL · Apr 2023: +41.9% vs market
ESABINDIA · Apr 2021: +51.1% vs market
SUPREMEIND · Jul 2022: +63.1% vs market
Similar setups −1.8%All companies +0.5%← 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
−1.8%
All companies' median
+0.5%
Beat the market
50% vs 50%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
OFSS
Technology Services		 Jan 2020 16x47% −24%−26% −7%
COHANCE
Health Technology		 Nov 2022 26x41% −5%−25% +24%
CRISIL
Commercial Services		 Aug 2024 50x41% +12%−15% +21%
PGHL
Health Technology		 Dec 2023 35x45% +25%−9% −10%
BAJAJCON
Consumer Non-Durables		 Mar 2020 9x58% −57%−62% +9%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CASTROLIND
Energy Minerals		 Aug 2020 14x91% −2%−25% −30%
SUNTV
Consumer Services		 Jul 2020 11x30% −18%−29% −4%
TIPSMUSIC
Consumer Services		 Sep 2025 45x109% −15%−37% +11%
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 debt/equity. 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 INDIAN ENERGY EXCHANGE 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.

GUJARAT PIPAVAV PORTGPPL
Transportation
73%similar
operating margindebt/equity
INDIAMART INTERMESHINDIAMART
Retail Trade
70%similar
debt/equitymarket cap
CARE RATINGSCARERATING
Commercial Services
69%similar
revenuevolatility
ICRAICRA
Commercial Services
69%similar
revenuerevenue growth
NESCONESCO
Producer Manufacturing
65%similar
volatilityP/E
CANARA ROBECO ASSET MANAGEMENTCRAMC
Finance
67%similar
operating marginP/E
ADITYA BIRLA SUN LIFE AMCABSLAMC
Finance
64%similar
EPS growthoperating margin
MONARCH NETWORTH CAPITALMONARCH
Finance
54%similar
operating marginvolatility

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

What changed?

30 events since Jun '21

  1. OctPriceFell 66% from the Dec 2021 peak to the Oct 2026 low.
  2. AprPriceVolume reached 6.6x its 50-day median on 2026-04-20; price -8.0% that day.
  3. MarInstitutionsFII + DII holding fell 6.3 pts over 2 quarters to 46.4%.
  4. MarPeer rankSlipped to the 2nd quartile of Finance on EPS growth (from the top quartile).
  5. JanPriceVolume reached 49.9x its 50-day median on 2026-01-09; price -7.8% that day.
  6. DecValuationP/E fell below the 10th percentile of its own history to date (25.6x).
  7. DecPeer rankMoved into the top quartile of Finance on EPS growth (from the 2nd quartile).
  8. DecPriceVolume reached 6.9x its 50-day median on 2025-12-01; price +5.3% that day.
Show 22 earlier events
  1. JulPriceVolume reached 50.0x its 50-day median on 2025-07-25; price +9.6% that day.
  2. JunInstitutionsFII + DII holding rose 3.1 pts over 2 quarters to 50.3%.
  3. JunPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the 3rd quartile).
  4. JunPriceVolume reached 14.7x its 50-day median on 2025-06-11; price -7.8% that day.
  5. JanPriceVolume reached 5.8x its 50-day median on 2025-01-24; price +1.1% that day.
  6. SepInstitutionsFII + DII holding rose 4.8 pts over 1 quarter to 42.9%.
  7. SepPriceVolume reached 8.8x its 50-day median on 2024-09-24; price -11.6% that day.
  8. JunResultsYear-on-year EPS growth turned positive.
  9. JunPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
  10. JunPriceVolume reached 5.6x its 50-day median on 2024-06-13; price +2.7% that day.
  11. JanPriceVolume reached 6.7x its 50-day median on 2024-01-17; price -10.3% that day.
  12. DecPriceVolume reached 10.9x its 50-day median on 2023-12-29; price +4.0% that day.
  13. SepPriceVolume reached 5.5x its 50-day median on 2023-09-08; price +2.9% that day.
  14. JunResultsYear-on-year EPS growth turned negative.
  15. JunDividendDividend payout cut from 58% to 29% of profit.
  16. JunPriceVolume reached 26.3x its 50-day median on 2023-06-09; price -10.2% that day.
  17. MarPriceVolume reached 7.4x its 50-day median on 2023-03-15; price +4.2% that day.
  18. JunResultsRevenue (TTM) reached a new high of ₹431 cr.
  19. OctPriceVolume reached 13.6x its 50-day median on 2021-10-19; price +6.1% that day.
  20. SepPriceVolume reached 16.2x its 50-day median on 2021-09-01; price +11.0% that day.
  21. JunResultsRevenue (TTM) reached a new high of ₹318 cr.
  22. JunValuationP/E crossed above the 90th percentile of its own history to date (54.6x).

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 history90 months · 2019-06 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1119.8x₹632 cr37.2%51.0%0.0x
2026-1017.7x₹632 cr37.2%51.0%0.0x
2026-0918.8x₹632 cr37.2%51.0%0.0x
2026-0821.8x₹616 cr36.1%51.0%0.0x
2026-0723.9x₹616 cr36.1%51.0%0.0x
2026-0622.6x₹616 cr36.1%51.0%0.0x
2026-0523.8x₹584 cr42.3%53.0%0.0x
2026-0423.3x₹584 cr42.3%53.0%0.0x
2026-0321.3x₹584 cr42.3%53.0%0.0x
2026-0224.0x₹570 cr41.2%53.0%0.0x
2026-0124.2x₹570 cr41.2%53.0%0.0x
2025-1225.6x₹570 cr41.2%53.0%0.0x
2025-1127.5x₹555 cr39.9%53.0%0.0x
2025-1027.4x₹555 cr39.9%53.0%0.0x
2025-0927.5x₹555 cr39.9%53.0%0.0x
2025-0829.1x₹537 cr37.7%53.0%0.0x
2025-0728.2x₹537 cr37.7%53.0%0.0x
2025-0640.2x₹537 cr37.7%53.0%0.0x
2025-0543.9x₹516 cr42.0%50.0%0.0x
2025-0441.7x₹516 cr42.0%50.0%0.0x
2025-0338.5x₹516 cr42.0%50.0%0.0x
2025-0235.4x₹499 cr40.4%50.0%0.0x
2025-0139.7x₹499 cr40.4%50.0%0.0x
2024-1241.3x₹499 cr40.4%50.0%0.0x
2024-1142.4x₹469 cr38.2%50.0%0.0x
2024-1042.7x₹469 cr38.2%50.0%0.0x
2024-0949.1x₹469 cr38.2%50.0%0.0x
2024-0851.8x₹449 cr36.1%50.0%0.0x
2024-0748.9x₹449 cr36.1%50.0%0.0x
2024-0645.9x₹449 cr36.1%50.0%0.0x
2024-0544.7x₹401 cr38.3%50.0%0.0x
2024-0445.6x₹401 cr38.3%50.0%0.0x
2024-0339.2x₹401 cr38.3%50.0%0.0x
2024-0241.4x₹401 cr38.3%50.0%0.0x
2024-0143.0x₹401 cr38.3%50.0%0.0x
2023-1249.0x₹401 cr38.3%50.0%0.0x
2023-1141.9x₹401 cr38.3%50.0%0.0x
2023-1036.7x₹401 cr38.3%50.0%0.0x
2023-0938.5x₹401 cr38.3%50.0%0.0x
2023-0836.8x₹401 cr38.3%50.0%0.0x
2023-0735.8x₹401 cr38.3%50.0%0.0x
2023-0637.1x₹401 cr38.3%50.0%0.0x
2023-0544.5x₹431 cr43.9%61.0%0.0x
2023-0445.5x₹431 cr43.9%61.0%0.0x
2023-0337.2x₹431 cr43.9%61.0%0.0x
2023-0242.0x₹431 cr43.9%61.0%0.0x
2023-0140.3x₹431 cr43.9%61.0%0.0x
2022-1240.7x₹431 cr43.9%61.0%0.0x
2022-1143.0x₹431 cr43.9%61.0%0.0x
2022-1040.7x₹431 cr43.9%61.0%0.0x
2022-0941.3x₹431 cr43.9%61.0%0.0x
2022-0846.8x₹431 cr43.9%61.0%0.0x
2022-0746.4x₹431 cr43.9%61.0%0.0x
2022-0646.1x₹431 cr43.9%61.0%0.0x
2022-0585.0x₹318 cr39.0%55.0%0.0x
2022-0493.7x₹318 cr39.0%55.0%0.0x
2022-0398.1x₹318 cr39.0%55.0%0.0x
2022-0289.9x₹318 cr39.0%55.0%0.0x
2022-01102.8x₹318 cr39.0%55.0%0.0x
2021-12110.4x₹318 cr39.0%55.0%0.0x
2021-11108.4x₹318 cr39.0%55.0%0.0x
2021-10103.1x₹318 cr39.0%55.0%0.0x
2021-0994.0x₹318 cr39.0%55.0%0.0x
2021-0873.5x₹318 cr39.0%55.0%0.0x
2021-0762.7x₹318 cr39.0%55.0%0.0x
2021-0654.6x₹318 cr39.0%55.0%0.0x
2021-0560.8x₹257 cr45.4%56.0%0.0x
2021-0463.0x₹257 cr45.4%56.0%0.0x
2021-0356.6x₹257 cr45.4%56.0%0.0x
2021-0249.9x₹257 cr45.4%56.0%0.0x
2021-0141.9x₹257 cr45.4%56.0%0.0x
2020-1238.8x₹257 cr45.4%56.0%0.0x
2020-1137.0x₹257 cr45.4%56.0%0.0x
2020-1032.5x₹257 cr45.4%56.0%0.0x
2020-0935.4x₹257 cr45.4%56.0%0.0x
2020-0832.8x₹257 cr45.4%56.0%0.0x
2020-0730.5x₹257 cr45.4%56.0%0.0x
2020-0630.6x₹257 cr45.4%56.0%0.0x
2020-0530.2x₹254 cr44.6%—0.0x
2020-0427.6x₹254 cr44.6%—0.0x
2020-0323.6x₹254 cr44.6%—0.0x
2020-0232.5x₹254 cr44.6%—0.0x
2020-0130.3x₹254 cr44.6%—0.0x
2019-1226.3x₹254 cr44.6%—0.0x
2019-1125.7x₹254 cr44.6%—0.0x
2019-1026.7x₹254 cr44.6%—0.0x
2019-0922.2x₹254 cr44.6%—0.0x
2019-0824.8x₹254 cr44.6%—0.0x
2019-0726.0x₹254 cr44.6%—0.0x
2019-0626.5x₹254 cr44.6%—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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