अApnaFunda
Menu

IFGL REFRACTORIES LTD (IFGLEXPOR)

Producer Manufacturing · Industrial Machinery · 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 17Growth 32Balance sheet 73
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.31 / 100
Price 11Earnings 50FII/DII 33
Compare withWELSPUN CORPVOLTASTHERMAX

Share price

Closing priceAdjusted for splits and bonus issues.

₹175.73 latest close · −20.6% over the last 90 sessions

₹175₹200₹225Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹175₹200₹225Jul 3Sep 4Nov 9

₹175.73 month-end · −19.8% over 12 months

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

₹175.73 month-end · −57.5% over 3 years

₹100₹200₹300₹400Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹200₹300₹400Nov '23May '25Nov '26

₹175.73 month-end · +57.9% since Jan '19

₹200₹400Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹200₹400Jan '19Dec '22Nov '26

52-week range ₹119.68 to ₹252.00 · 1-year volatility 48.2%

Was the rally earned?

-20%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 30 points, but investors now pay less per rupee of profit (P/E 54.1x to 30.9x), which took 50 points back.
  • The share count barely moved.
Net profit growth: +31 pts. Points of the price return explained by net profit growing (or shrinking).+31 ptsNet profit growthP/E change: −50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−50 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: −20%−20%Share priceNet profit growth: +31 pts. Points of the price return explained by net profit growing (or shrinking).+31ProfitP/E change: −50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−50P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −20%−20%Share price
Net profit growth+31 ptsNet profit rose about 41%, which lifts the price.
P/E change-50 ptsThe P/E fell from 54.1x to 30.9x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-58%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 44 points, while the multiple moved less (P/E 37.7x to 30.9x).
  • The share count barely moved.
Net profit growth: −44 pts. Points of the price return explained by net profit growing (or shrinking).−44 ptsNet profit growthP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13 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: −57%−57%Share priceNet profit growth: −44 pts. Points of the price return explained by net profit growing (or shrinking).−44ProfitP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −57%−57%Share price
Net profit growth-44 ptsNet profit fell about 48%, which lowers the price.
P/E change-13 ptsThe P/E fell from 37.7x to 30.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+19%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 16.2x to 30.9x); per-share earnings took off 52 points.
  • The share count barely moved.
Net profit growth: −52 pts. Points of the price return explained by net profit growing (or shrinking).−52 ptsNet profit growthP/E change: +71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+71 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: +19%+19%Share priceNet profit growth: −52 pts. Points of the price return explained by net profit growing (or shrinking).−52ProfitP/E change: +71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+71P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +19%+19%Share price
Net profit growth-52 ptsNet profit fell about 38%, which lowers the price.
P/E change+71 ptsThe P/E rose from 16.2x to 30.9x, 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 WELSPUN CORP

How rough has the ride been?

Maximum drawdown-72.9%not yet recovered
1-year volatility48.2%annualised
Beta vs sector index1.193-year daily, correlation 0.47
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−71.1% 0%−20%−40%−60%2020202220242026−71.1%
Largest drawdowns

-72.9% (2023-12 peak to 2026-03 low, not yet recovered)

-72.0% (2019-01 peak to 2020-03 low, recovered 2020-12)

-52.0% (2021-07 peak to 2023-03 low, recovered 2023-08)

Most recent volume spikes

2026-09-09: 16.9x the 50-day median, price +8.3% that day

2026-07-08: 17x the 50-day median, price +1.3% that day

2026-07-06: 26.2x the 50-day median, price +7.3% 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?

30.9xP/E todayWithin its usual range
Against its own history71st percentile
CheapestMedian 22.6xDearest

Usual range 10.8x to 46.3x since 2019-01.

Against Producer Manufacturing30.9x vs 29.6x
This company
30.9x
Sector median
29.6x

Close to the Producer Manufacturing median.

6.5x28.5x50.6x72.7xJan '19Aug '20Mar '22Oct '23May '25Nov '266.5x28.5x50.6x72.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE11th▼ 5 pts vs a year ago
  • Op. margin23rd▼ 4 pts vs a year ago
  • Revenue growth53rd▲ 16 pts vs a year ago
  • EPS growth75th▲ 63 pts vs a year ago
  • Debt/equity ↓56thflat vs a year ago
  • Cash cycle ↓38th▲ 3 pts vs a year ago
  • P/E ↓49th▲ 25 pts vs a year ago
  • 12M momentum30th▼ 30 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing 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 20.1x, a holder earning 12%/yr needs earnings to grow about 13.1%/yr for 10 years, then trade at 15x.

Delivered5.3%/yrEPS, last 9 fiscal years · 3-yr avg to 3-yr avg
Gap+7.9 ptsimplied minus delivered
Rank373rdmost demanding of 856

Over time

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

0%13%25% Jan 2019Nov 2026 0%13%25% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x14.4%15.4%16.4%
15x12.1%13.1%14.1%
20x9.2%10.2%11.2%

Drag a slider to test other assumptions

Implied: 13.1%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown −5%/yr (7.0 yrs)
  • Jan 2021Price implied 14%/yr; EPS has since grown 10%/yr (6.0 yrs)
  • Jan 2022Price implied 16%/yr; EPS has since grown −12%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹175.73
P/E
30.9x
ROCE
5.0%
Market Cap
₹1268 cr
Revenue (TTM)
₹1953 cr
P/S
0.6x
P/B
1.1x
ROE
3.5%
Operating Margin
7.0%
Debt / Equity
0.2x
Promoter Holding
72.4%
12M Momentum
-19.8%

52-week range

₹119.68₹252.00
42% of the way from its 52-week low to its high

Price risk

1Y volatility
48.2%
Beta vs sector
1-year daily
1.25

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.52x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 beyond a threshold
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.52xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.52x (cash from operations ₹243 cr, net profit ₹160 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+3 daysWithin range

Debtor days are above the median of the previous three fiscal years by 3 days (82 vs 79). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress7% of fixed assetsWithin range

Capital work-in-progress is 7% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+7 days / 2 yrsWithin range

Days payable changed by +7 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs added 1.2 pts.
  • The number of shareholders rose from 20,078 to 21,525 (+7%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters72.4%72.4%0.0 pts
FIIs0.0%0.0%0.0 pts
DIIs11.8%13.0%+1.2 pts
Public and others15.7%14.5%-1.2 pts

Number of shareholders

21,525shareholders+7% since Sep '23
18k19k20k22k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 20,078
Dec '23: 21,430
Mar '24: 18,901
Jun '24: 18,466
Sep '24: 18,255
Dec '24: 19,168
Mar '25: 18,613
Jun '25: 19,714
Sep '25: 21,605
Dec '25: 21,346
Mar '26: 21,298
Jun '26: 21,525
 18k19k20k22k Sep '23Sep '24Sep '25Jun '26
Sep '23: 20,078
Dec '23: 21,430
Mar '24: 18,901
Jun '24: 18,466
Sep '24: 18,255
Dec '24: 19,168
Mar '25: 18,613
Jun '25: 19,714
Sep '25: 21,605
Dec '25: 21,346
Mar '26: 21,298
Jun '26: 21,525

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

+13.2%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like IFGL REFRACTORIES LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −26% to +55% vs the market, against −6% for all non-financial companies in the same months.
  • The gap against the base rate (+19.0%, 80% range −2.6% to +29.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SHIVALIK · Jun 2025: −56.8% vs market
ELIN · Aug 2025: −50.1% vs market
UFO · Sep 2024: −43.3% vs market
OMINFRAL · Dec 2024: −42.2% vs market
HERANBA · May 2025: −40.8% vs market
RUSHIL · Oct 2025: −37.5% vs market
ASAHISONG · Jun 2022: −34.1% vs market
IFBIND · Mar 2025: −30.9% vs market
OAL · Sep 2024: −28.6% vs market
GULPOLY · Sep 2023: −28.5% vs market
RICOAUTO · Mar 2021: −27.8% vs market
DCXINDIA · Jul 2024: −27.4% vs market
SHANKARA · Apr 2023: −27.0% vs market
KOPRAN · May 2024: −22.8% vs market
GHCLTEXTIL · Aug 2024: −20.2% vs market
IRMENERGY · Oct 2025: −18.5% vs market
BODALCHEM · Jun 2021: −16.8% vs market
BHAGERIA · Feb 2025: −16.2% vs market
MMP · Apr 2024: −12.7% vs market
ATULAUTO · Oct 2025: −11.3% vs market
TVSSRICHAK · Sep 2023: −9.0% vs market
GRPLTD · May 2020: +0.6% vs market
RGL · Oct 2025: +6.2% vs market
GLOBUSSPR · Oct 2024: +6.8% vs market
ORIENTCER · Apr 2025: +8.2% vs market
SHK · Jan 2024: +18.2% vs market
GSFC · Oct 2020: +21.7% vs market
SUNDRMBRAK · Mar 2020: +22.7% vs market
CLEDUCATE · Aug 2024: +23.1% vs market
SUNFLAG · Oct 2024: +27.6% vs market
CAPACITE · Dec 2022: +28.8% vs market
PRECAM · Mar 2023: +39.7% vs market
APOLLOPIPE · Aug 2025: +43.7% vs market
KCP · Sep 2023: +45.0% vs market
ORIENTBELL · Dec 2021: +49.6% vs market
ENTERO · Oct 2025: +50.6% vs market
GENUSPAPER · Dec 2021: +52.9% vs market
RPSGVENT · Dec 2020: +55.9% vs market
EVERESTIND · Jan 2021: +59.2% vs market
STERTOOLS · Aug 2022: +59.4% vs market
PROV · Sep 2025: +65.0% vs market
JPPOWER · Mar 2023: +84.9% vs market
UNIVCABLES · May 2025: +86.1% vs market
HBLENGINE · Jun 2020: +87.8% vs market
HERITGFOOD · Sep 2023: +88.1% vs market
ACLGATI · May 2020: +88.9% vs market
RISHABH · Jul 2025: +103.0% vs market
KIRLOSBROS · Jan 2023: +104.1% vs market
VASCONEQ · Aug 2022: +118.0% vs market
MARINE · Dec 2022: +148.1% vs market
Similar setups +13.2%All companies −5.8%← 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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
+13.2%
All companies' median
−5.8%
Beat the market
58% vs 44%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ELIN
Electronic Technology		 Aug 2025 32x7% −22%−30% −50%
IRMENERGY
Energy Minerals		 Oct 2025 32x8% −21%−24% −19%
GLOBUSSPR
Consumer Non-Durables		 Oct 2024 41x9% +31%−21% +7%
PRECAM
Producer Manufacturing		 Mar 2023 20x4% −28%−36% +40%
APOLLOPIPE
Producer Manufacturing		 Aug 2025 53x7% −33%−38% +44%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
EVERESTIND
Distribution Services		 Jan 2021 32x5% +2%−18% +59%
GENUSPAPER
Process Industries		 Dec 2021 39x— +60%−17% +53%
ORIENTCER
Non-Energy Minerals		 Apr 2025 40x8% −28%−39% +8%
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, drawdown from 12-month high and P/E. 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 IFGL REFRACTORIES LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

LUX INDUSTRIESLUXIND
Consumer Non-Durables
71%similar
operating marginvolatility
PSP PROJECTSPSPPROJECT
Industrial Services
65%similar
EPS growthoperating margin
IKIO TECHNOLOGIESIKIO
Electronic Technology
63%similar
promoter holdingP/E
LAXMI ORGANIC INDUSTRIESLXCHEM
Process Industries
60%similar
ROCEP/E
NRAGARWAL INDUSTRIESNRAIL
Process Industries
57%similar
volatilitymarket cap
STERLING TOOLSSTERTOOLS
Producer Manufacturing
64%similar
EPS growthP/E
ORIENT BELLORIENTBELL
Producer Manufacturing
60%similar
ROCEvolatility
RAJRATAN GLOBAL WIRERAJRATAN
Producer Manufacturing
58%similar
revenue growthvolatility

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

What changed?

30 events since Mar '23

  1. SepResultsYear-on-year EPS growth turned positive.
  2. SepPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  3. JulPriceVolume reached 84.3x its 50-day median on 2026-07-02; price +16.8% that day.
  4. JunPriceVolume reached 41.4x its 50-day median on 2026-06-02; price +10.2% that day.
  5. AprValuationP/E crossed above the 90th percentile of its own history to date (47.5x).
  6. MarPriceFell 73% from the Dec 2023 peak to the Mar 2026 low.
  7. MarPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  8. OctPriceVolume reached 217.1x its 50-day median on 2025-10-06; price +6.3% that day.
Show 22 earlier events
  1. SepPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  2. SepPriceVolume reached 324.2x its 50-day median on 2025-09-30; price +18.3% that day.
  3. JunResultsRevenue (TTM) reached a new high of ₹1,654 cr.
  4. MayValuationP/E crossed above the 90th percentile of its own history to date (40.0x).
  5. MayPriceVolume reached 45.4x its 50-day median on 2025-05-12; price +20.0% that day.
  6. MarPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  7. JanPriceVolume reached 8.8x its 50-day median on 2025-01-15; price -1.3% that day.
  8. DecPriceVolume reached 19.2x its 50-day median on 2024-12-03; price +4.4% that day.
  9. SepResultsYear-on-year EPS growth turned negative.
  10. SepPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  11. JulPriceVolume reached 6.0x its 50-day median on 2024-07-12; price -4.0% that day.
  12. JunResultsRevenue (TTM) reached a new high of ₹1,640 cr.
  13. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  14. JunPriceVolume reached 9.4x its 50-day median on 2024-06-21; price +7.4% that day.
  15. FebPriceVolume reached 12.8x its 50-day median on 2024-02-05; price -13.6% that day.
  16. NovValuationP/E crossed above the 90th percentile of its own history to date (37.7x).
  17. NovPriceVolume reached 14.1x its 50-day median on 2023-11-06; price +19.0% that day.
  18. AugPriceRegained the 2021-07 peak, 5 months after the low.
  19. AugPriceVolume reached 19.3x its 50-day median on 2023-08-01; price +15.1% that day.
  20. JunResultsRevenue (TTM) reached a new high of ₹1,386 cr.
  21. MayPriceVolume reached 22.9x its 50-day median on 2023-05-16; price +10.5% that day.
  22. MarPriceFell 52% from the Jul 2021 peak to the Mar 2023 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1130.9x₹1953 cr3.5%5.0%0.2x
2026-1028.7x₹1953 cr3.5%5.0%0.2x
2026-0933.7x₹1953 cr3.5%5.0%0.2x
2026-0843.7x₹1895 cr3.0%5.0%0.2x
2026-0743.4x₹1895 cr3.0%5.0%0.2x
2026-0637.5x₹1895 cr3.0%5.0%0.2x
2026-0543.7x₹1861 cr2.6%6.0%0.2x
2026-0447.5x₹1861 cr2.6%6.0%0.2x
2026-0330.8x₹1861 cr2.6%6.0%0.2x
2026-0241.4x₹1771 cr2.7%6.0%0.2x
2026-0144.5x₹1771 cr2.7%6.0%0.2x
2025-1250.5x₹1771 cr2.7%6.0%0.2x
2025-1154.1x₹1693 cr2.6%6.0%0.2x
2025-1061.1x₹1693 cr2.6%6.0%0.2x
2025-0972.7x₹1693 cr2.6%6.0%0.2x
2025-0840.1x₹1654 cr3.9%6.0%0.2x
2025-0739.2x₹1654 cr3.9%6.0%0.2x
2025-0643.7x₹1654 cr3.9%6.0%0.2x
2025-0540.0x₹1599 cr4.5%9.0%0.2x
2025-0426.6x₹1599 cr4.5%9.0%0.2x
2025-0326.7x₹1599 cr4.5%9.0%0.2x
2025-0224.4x₹1586 cr4.9%9.0%0.2x
2025-0128.8x₹1586 cr4.9%9.0%0.2x
2024-1232.2x₹1586 cr4.9%9.0%0.2x
2024-1122.5x₹1631 cr7.3%9.0%0.2x
2024-1026.6x₹1631 cr7.3%9.0%0.2x
2024-0928.1x₹1631 cr7.3%9.0%0.2x
2024-0828.2x₹1640 cr7.7%9.0%0.2x
2024-0727.3x₹1640 cr7.7%9.0%0.2x
2024-0628.6x₹1640 cr7.7%9.0%0.2x
2024-0527.6x₹1386 cr7.9%10.0%0.2x
2024-0431.0x₹1386 cr7.9%10.0%0.2x
2024-0324.7x₹1386 cr7.9%10.0%0.2x
2024-0225.6x₹1386 cr7.9%10.0%0.2x
2024-0137.5x₹1386 cr7.9%10.0%0.2x
2023-1236.4x₹1386 cr7.9%10.0%0.2x
2023-1137.7x₹1386 cr7.9%10.0%0.2x
2023-1022.3x₹1386 cr7.9%10.0%0.2x
2023-0921.7x₹1386 cr7.9%10.0%0.2x
2023-0822.0x₹1386 cr7.9%10.0%0.2x
2023-0718.2x₹1386 cr7.9%10.0%0.2x
2023-0615.7x₹1386 cr7.9%10.0%0.2x
2023-0513.7x₹1260 cr8.2%11.0%0.1x
2023-0411.2x₹1260 cr8.2%11.0%0.1x
2023-039.7x₹1260 cr8.2%11.0%0.1x
2023-0210.5x₹1260 cr8.2%11.0%0.1x
2023-0112.1x₹1260 cr8.2%11.0%0.1x
2022-1212.2x₹1260 cr8.2%11.0%0.1x
2022-1112.7x₹1260 cr8.2%11.0%0.1x
2022-1011.6x₹1260 cr8.2%11.0%0.1x
2022-0911.8x₹1260 cr8.2%11.0%0.1x
2022-0812.0x₹1260 cr8.2%11.0%0.1x
2022-0713.0x₹1260 cr8.2%11.0%0.1x
2022-0612.7x₹1260 cr8.2%11.0%0.1x
2022-0514.6x₹1022 cr7.4%14.0%0.1x
2022-0415.8x₹1022 cr7.4%14.0%0.1x
2022-0314.2x₹1022 cr7.4%14.0%0.1x
2022-0214.0x₹1022 cr7.4%14.0%0.1x
2022-0116.7x₹1022 cr7.4%14.0%0.1x
2021-1217.3x₹1022 cr7.4%14.0%0.1x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

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

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

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

Feedback