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INDIA NIPPON ELECTRICALS LTD (INDNIPPON)

Producer Manufacturing · Auto Parts: OEM · 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.76 / 100
Profitability 55Growth 73Balance 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.68 / 100
Price 71Earnings 71FII/DII 64

Passes these screensDebt-light & profitableConsistent compounders

Compare withSAMVARDHANA MOTHERSON INTBOSCHCUMMINS INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,148 latest close · +16.3% over the last 90 sessions

₹1,000₹1,200₹1,400Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,000₹1,200₹1,400Jul 3Sep 4Nov 9

₹1,148 month-end · +34.0% over 12 months

₹800₹1,000₹1,200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹800₹1,000₹1,200Nov '25May '26Nov '26

₹1,148 month-end · +134.0% over 3 years

₹500₹750₹1,000₹1,250Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹500₹750₹1,000₹1,250Nov '23May '25Nov '26

₹1,148 month-end · +179.5% since Jan '19

₹500₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000Jan '19Dec '22Nov '26

52-week range ₹675.00 to ₹1564.00 · 1-year volatility 44.2%

Was the rally earned?

+34%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 28 points to the rise, while the multiple moved less (P/E 22.2x to 23.4x).
  • The share count barely moved.
Net profit growth: +29 pts. Points of the price return explained by net profit growing (or shrinking).+29 ptsNet profit growthP/E change: +6 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+6 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: +34%+34%Share priceNet profit growth: +29 pts. Points of the price return explained by net profit growing (or shrinking).+29ProfitP/E change: +6 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+6P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +34%+34%Share price
Net profit growth+29 ptsNet profit rose about 28%, which lifts the price.
P/E change+6 ptsThe P/E rose from 22.2x to 23.4x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+134%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 132 points to the rise, while the multiple moved less (P/E 23.0x to 23.4x).
  • The share count barely moved.
Net profit growth: +132 pts. Points of the price return explained by net profit growing (or shrinking).+132 ptsNet profit growthP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2 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: +134%+134%Share priceNet profit growth: +132 pts. Points of the price return explained by net profit growing (or shrinking).+132ProfitP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +134%+134%Share price
Net profit growth+132 ptsNet profit rose about 132%, which lifts the price.
P/E change+2 ptsThe P/E rose from 23.0x to 23.4x, which lifts the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+206%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 190 points to the rise, while the multiple moved less (P/E 21.4x to 23.4x).
  • The share count barely moved.
Net profit growth: +188 pts. Points of the price return explained by net profit growing (or shrinking).+188 ptsNet profit growthP/E change: +16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+16 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: +206%+206%Share priceNet profit growth: +188 pts. Points of the price return explained by net profit growing (or shrinking).+188ProfitP/E change: +16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+16P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +206%+206%Share price
Net profit growth+188 ptsNet profit rose about 178%, which lifts the price.
P/E change+16 ptsThe P/E rose from 21.4x to 23.4x, which lifts the price.
Share count change+2 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 SAMVARDHANA MOTHERSON INT

How rough has the ride been?

Maximum drawdown-59.4%recovered 2022-01
1-year volatility44.2%annualised
Beta vs sector index0.983-year daily, correlation 0.47
Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−58.4% 0%−20%−40%−60%2020202220242026−58.4%
Largest drawdowns

-59.4% (2019-04 peak to 2020-03 low, recovered 2022-01)

-47.2% (2022-01 peak to 2023-03 low, recovered 2024-01)

-37.1% (2025-10 peak to 2026-03 low, recovered 2026-07)

Most recent volume spikes

2026-10-19: 10x the 50-day median, price +5.2% that day

2026-09-16: 5.8x the 50-day median, price -3.0% that day

2026-09-11: 9.1x the 50-day median, price -0.7% 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?

23.4xP/E todayWithin its usual range
Against its own history76th percentile
CheapestMedian 19.9xDearest

Usual range 13.3x to 25.5x since 2019-01.

Against Producer Manufacturing23.4x vs 29.6x
This company
23.4x
Sector median
29.6x

21% below the Producer Manufacturing median.

7.3x19.6x31.8x44.0xJan '19Aug '20Mar '22Oct '23May '25Nov '267.3x19.6x31.8x44.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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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

  • ROCE58th▲ 12 pts vs a year ago
  • Op. margin53rd▲ 12 pts vs a year ago
  • Revenue growth67thflat vs a year ago
  • EPS growth67th▼ 10 pts vs a year ago
  • Debt/equity ↓93rdflat vs a year ago
  • Cash cycle ↓80th▼ 6 pts vs a year ago
  • P/E ↓62nd▼ 10 pts vs a year ago
  • 12M momentum81st▼ 5 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?

~21%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 37.0x, a holder earning 12%/yr needs earnings to grow about 20.7%/yr for 10 years, then trade at 15x.

Delivered8.9%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+11.9 ptsimplied minus delivered
Rank282ndmost demanding of 856

Over time

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

0%13%26% Jan 2019Nov 2026 0%13%26% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x22.1%23.2%24.3%
15x19.7%20.7%21.8%
20x16.5%17.6%18.6%

Drag a slider to test other assumptions

Implied: 20.7%/yr

Looking back

  • Jan 2020Price implied 14%/yr; EPS has since grown 9%/yr (7.0 yrs)
  • Jan 2021Price implied 11%/yr; EPS has since grown 13%/yr (6.0 yrs)
  • Jan 2022Price implied 16%/yr; EPS has since grown 23%/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
₹1148.00
P/E
23.4x
ROCE
17.0%
Market Cap
₹2597 cr
Revenue (TTM)
₹1069 cr
P/S
2.4x
P/B
3.2x
ROE
13.5%
Operating Margin
12.0%
Debt / Equity
0.0x
Promoter Holding
70.4%
12M Momentum
34.0%

52-week range

₹675.00₹1564.00
53% of the way from its 52-week low to its high

Price risk

1Y volatility
44.2%
Beta vs sector
1-year daily
1.04

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.61x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance32%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 31.7%. 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 conversion0.61xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.61x (cash from operations ₹153 cr, net profit ₹252 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (71 vs 71). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress4% of fixed assetsWithin range

Capital work-in-progress is 4% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-23 days / 2 yrsWithin range

Days payable changed by -23 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 17,772 to 24,035 (+35%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters70.4%70.4%0.0 pts
FIIs0.1%0.3%+0.2 pts
DIIs0.0%0.2%+0.2 pts
Public and others29.5%29.1%-0.4 pts

Number of shareholders

24,035shareholders+35% since Sep '23
18k20k22k24k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 17,772
Dec '23: 17,877
Mar '24: 18,533
Jun '24: 19,120
Sep '24: 20,689
Dec '24: 21,376
Mar '25: 21,837
Jun '25: 21,812
Sep '25: 21,776
Dec '25: 22,883
Mar '26: 22,994
Jun '26: 24,035
 18k20k22k24k Sep '23Sep '24Sep '25Jun '26
Sep '23: 17,772
Dec '23: 17,877
Mar '24: 18,533
Jun '24: 19,120
Sep '24: 20,689
Dec '24: 21,376
Mar '25: 21,837
Jun '25: 21,812
Sep '25: 21,776
Dec '25: 22,883
Mar '26: 22,994
Jun '26: 24,035

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

−1.3%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 INDIA NIPPON ELECTRICALS 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 −23% to +55% vs the market, against 0% for all non-financial companies in the same months.
  • The gap against the base rate (−1.2%, 80% range −11.2% to +18.5%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
BHARATRAS · Jul 2025: −56.1% vs market
NUCLEUS · Oct 2020: −40.3% vs market
MOREPENLAB · Sep 2024: −39.3% vs market
EXCELINDUS · Apr 2022: −38.8% vs market
IRCON · Jul 2020: −38.6% vs market
AMBIKCO · Mar 2022: −38.4% vs market
ARE&M · Jul 2024: −37.1% vs market
ALBERTDAVD · Mar 2020: −34.2% vs market
MAYURUNIQ · Apr 2023: −30.0% vs market
SASKEN · Apr 2021: −28.2% vs market
INTERARCH · Oct 2025: −26.6% vs market
DATAMATICS · Jun 2023: −24.3% vs market
ADOR · May 2023: −23.2% vs market
INTELLECT · Oct 2023: −22.2% vs market
FLAIR · Oct 2025: −21.7% vs market
SHARDACROP · Nov 2020: −19.7% vs market
HONDAPOWER · Dec 2022: −15.4% vs market
DHANUKA · Oct 2024: −14.8% vs market
BOROLTD · Sep 2022: −11.2% vs market
WINDLAS · May 2025: −10.7% vs market
VEEDOL · May 2024: −9.7% vs market
SUBROS · Jul 2025: −9.1% vs market
INDRAMEDCO · Jul 2020: −6.3% vs market
FIEMIND · Dec 2022: −4.8% vs market
STARCEMENT · Jul 2023: −1.9% vs market
AUTOAXLES · Nov 2022: −0.7% vs market
GRAUWEIL · Oct 2022: +14.3% vs market
DODLA · Nov 2023: +16.8% vs market
STYRENIX · Jul 2024: +17.8% vs market
GOLDIAM · Aug 2024: +22.3% vs market
FINCABLES · Jun 2023: +23.9% vs market
JGCHEM · Oct 2025: +38.7% vs market
RSYSTEMS · Jan 2020: +38.9% vs market
AVANTIFEED · May 2025: +39.5% vs market
MARKSANS · Mar 2024: +41.3% vs market
GRWRHITECH · Jul 2024: +47.1% vs market
ENGINERSIN · Jun 2023: +48.9% vs market
OAL · Sep 2020: +56.5% vs market
INFOBEAN · May 2020: +57.4% vs market
GEOJITFSL · Jul 2020: +60.0% vs market
TDPOWERSYS · Oct 2022: +77.9% vs market
CONTROLPR · Oct 2022: +80.3% vs market
VESUVIUS · Apr 2023: +81.8% vs market
ADFFOODS · Jan 2020: +83.9% vs market
RAILTEL · Jul 2023: +105.7% vs market
MASTEK · Feb 2020: +112.5% vs market
ACE · Dec 2022: +114.9% vs market
VOLTAMP · Apr 2023: +135.6% vs market
BSOFT · May 2020: +144.0% vs market
GRSE · Aug 2022: +148.4% vs market
Similar setups −1.3%All companies −0.1%← 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 · 7 beyond the range shown, drawn at the edge

Similar setups' median
−1.3%
All companies' median
−0.1%
Beat the market
48% vs 50%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ADOR
Producer Manufacturing		 May 2023 35x20% +70%−7% −23%
BOROLTD
Producer Manufacturing		 Sep 2022 28x18% +75%−15% −11%
VOLTAMP
Producer Manufacturing		 Apr 2023 23x19% +59%−15% +136%
WINDLAS
Health Technology		 May 2025 31x18% +44%−20% −11%
RAILTEL
Communications		 Jul 2023 28x16% +69%−2% +106%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
STARCEMENT
Producer Manufacturing		 Jul 2023 24x17% +66%−3% −2%
AMBIKCO
Process Industries		 Mar 2022 19x17% +165%−14% −38%
GRSE
Producer Manufacturing		 Aug 2022 18x20% +59%−5% +148%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, P/E and ROCE. Not used (unavailable for this company): interest cover. 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 INDIA NIPPON ELECTRICALS 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.

J.G.CHEMICALSJGCHEM
Process Industries
77%similar
revenuepromoter holding
GRAUER & WEIL (INDIA)GRAUWEIL
Process Industries
72%similar
revenuepromoter holding
PLATINUM INDUSTRIESPLATIND
Process Industries
69%similar
operating marginP/E
WINDLAS BIOTECHWINDLAS
Health Technology
67%similar
operating marginROCE
SHREE PUSHKAR CHEMICALSSHREEPUSHK
Process Industries
62%similar
revenuepromoter holding
DIFFUSION ENGINEERSDIFFNKG
Producer Manufacturing
64%similar
promoter holdingoperating margin
FEDERAL MOGUL GOETZE INDIAFMGOETZE
Producer Manufacturing
64%similar
market capdebt/equity
NDR AUTO COMPONENTSNDRAUTO
Producer Manufacturing
63%similar
EPS growthoperating margin

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. OctPriceVolume reached 10.0x its 50-day median on 2026-10-19; price +5.2% that day.
  2. SepPriceVolume reached 99.1x its 50-day median on 2026-09-10; price +4.2% that day.
  3. JulPriceRegained the 2025-10 peak, 4 months after the low.
  4. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  5. MayPriceVolume reached 73.8x its 50-day median on 2026-05-29; price +12.8% that day.
  6. MarPriceFell 37% from the Oct 2025 peak to the Mar 2026 low.
  7. MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
  8. FebPriceVolume reached 50.3x its 50-day median on 2026-02-16; price +7.4% that day.
Show 22 earlier events
  1. OctPriceVolume reached 32.2x its 50-day median on 2025-10-01; price +11.2% that day.
  2. SepPriceRegained the 2024-08 peak, 6 months after the low.
  3. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  4. SepPriceVolume reached 6.9x its 50-day median on 2025-09-16; price +5.6% that day.
  5. JunPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  6. MayPriceVolume reached 9.0x its 50-day median on 2025-05-30; price +3.5% that day.
  7. MarPriceFell 34% from the Aug 2024 peak to the Mar 2025 low.
  8. MarPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  9. MarPriceVolume reached 6.1x its 50-day median on 2025-03-24; price +7.2% that day.
  10. AugPriceVolume reached 5.4x its 50-day median on 2024-08-06; price +1.9% that day.
  11. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  12. MayPriceVolume reached 23.2x its 50-day median on 2024-05-31; price +5.7% that day.
  13. MarResultsYear-on-year EPS growth turned positive.
  14. JanPriceRegained the 2022-01 peak, 10 months after the low.
  15. JanPriceVolume reached 13.3x its 50-day median on 2024-01-20; price +13.7% that day.
  16. DecValuationP/E crossed above the 90th percentile of its own history to date (25.1x).
  17. DecPriceVolume reached 15.8x its 50-day median on 2023-12-07; price +6.0% that day.
  18. JulValuationP/E crossed above the 90th percentile of its own history to date (23.5x).
  19. JulPriceVolume reached 20.1x its 50-day median on 2023-07-19; price +7.8% that day.
  20. JunResultsYear-on-year EPS growth turned negative.
  21. JunPriceVolume reached 106.6x its 50-day median on 2023-06-20; price +15.4% that day.
  22. MarPriceFell 47% from the Jan 2022 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
2026-1123.4x₹1069 cr13.5%17.0%0.0x
2026-1022.8x₹1069 cr13.5%17.0%0.0x
2026-0925.3x₹1069 cr13.5%17.0%0.0x
2026-0821.4x₹1069 cr13.5%17.0%0.0x
2026-0723.8x₹1069 cr13.5%17.0%0.0x
2026-0620.4x₹1069 cr13.5%17.0%0.0x
2026-0521.2x₹1004 cr13.8%15.0%0.0x
2026-0418.2x₹1004 cr13.8%15.0%0.0x
2026-0315.6x₹1004 cr13.8%15.0%0.0x
2026-0220.9x₹947 cr12.5%15.0%0.0x
2026-0117.8x₹947 cr12.5%15.0%0.0x
2025-1220.6x₹947 cr12.5%15.0%0.0x
2025-1122.2x₹884 cr12.2%15.0%0.0x
2025-1024.6x₹884 cr12.2%15.0%0.0x
2025-0923.4x₹884 cr12.2%15.0%0.0x
2025-0822.0x₹846 cr11.5%15.0%0.0x
2025-0720.9x₹846 cr11.5%15.0%0.0x
2025-0620.3x₹846 cr11.5%15.0%0.0x
2025-0521.4x₹808 cr12.0%13.0%0.0x
2025-0417.8x₹808 cr12.0%13.0%0.0x
2025-0317.9x₹808 cr12.0%13.0%0.0x
2025-0217.7x₹772 cr11.4%13.0%0.0x
2025-0119.9x₹772 cr11.4%13.0%0.0x
2024-1222.2x₹772 cr11.4%13.0%0.0x
2024-1123.5x₹752 cr10.9%13.0%0.0x
2024-1023.3x₹752 cr10.9%13.0%0.0x
2024-0925.6x₹752 cr10.9%13.0%0.0x
2024-0830.6x₹725 cr9.5%13.0%0.0x
2024-0730.3x₹725 cr9.5%13.0%0.0x
2024-0631.0x₹725 cr9.5%13.0%0.0x
2024-0529.4x₹687 cr9.5%11.0%0.0x
2024-0429.9x₹687 cr9.5%11.0%0.0x
2024-0329.0x₹687 cr9.5%11.0%0.0x
2024-0234.4x₹656 cr8.6%11.0%0.0x
2024-0132.6x₹656 cr8.6%11.0%0.0x
2023-1225.1x₹656 cr8.6%11.0%0.0x
2023-1123.0x₹656 cr8.6%11.0%0.0x
2023-1023.4x₹656 cr8.6%11.0%0.0x
2023-0924.1x₹656 cr8.6%11.0%0.0x
2023-0822.5x₹656 cr8.6%11.0%0.0x
2023-0723.5x₹656 cr8.6%11.0%0.0x
2023-0620.8x₹656 cr8.6%11.0%0.0x
2023-0516.8x₹566 cr9.9%10.0%0.0x
2023-0416.5x₹566 cr9.9%10.0%0.0x
2023-0314.9x₹566 cr9.9%10.0%0.0x
2023-0216.2x₹566 cr9.9%10.0%0.0x
2023-0116.9x₹566 cr9.9%10.0%0.0x
2022-1217.9x₹566 cr9.9%10.0%0.0x
2022-1119.2x₹566 cr9.9%10.0%0.0x
2022-1019.6x₹566 cr9.9%10.0%0.0x
2022-0919.5x₹566 cr9.9%10.0%0.0x
2022-0818.5x₹566 cr9.9%10.0%0.0x
2022-0719.0x₹566 cr9.9%10.0%0.0x
2022-0617.0x₹566 cr9.9%10.0%0.0x
2022-0523.2x₹481 cr8.9%12.0%0.0x
2022-0424.7x₹481 cr8.9%12.0%0.0x
2022-0324.3x₹481 cr8.9%12.0%0.0x
2022-0224.7x₹481 cr8.9%12.0%0.0x
2022-0129.7x₹481 cr8.9%12.0%0.0x
2021-1220.9x₹481 cr8.9%12.0%0.0x

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.

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