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INFOBEANS TECHNOLOGIES LIMITED (INFOBEAN)

Technology Services · Packaged Software · 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.81 / 100
Profitability 78Growth 65Balance 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.66 / 100
Price 73Earnings 75FII/DII 50

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withONE 97 COMMUNICATIONS PAYTMORACLE FINANCIAL SERVICES SOFTMPHASIS

Share price

Closing priceAdjusted for splits and bonus issues.

₹168.71 latest close · +1.3% over the last 90 sessions

₹140₹160Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹140₹160Jul 3Sep 4Nov 9

₹168.71 month-end · +11.9% over 12 months

₹125₹150₹175₹200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹125₹150₹175₹200Nov '25May '26Nov '26

₹168.71 month-end · +65.5% over 3 years

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

₹168.71 month-end · +864.1% since Feb '19

₹0₹100₹200Feb '19Sep '20Mar '22Oct '23Apr '25Nov '26 ₹0₹100₹200Feb '19Jan '23Nov '26

52-week range ₹120.33 to ₹257.50 · 1-year volatility 68.3%

Was the rally earned?

+12%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 49 points, but investors now pay less per rupee of profit (P/E 27.4x to 19.3x), which took 37 points back.
  • The share count barely moved.
Net profit growth: +50 pts. Points of the price return explained by net profit growing (or shrinking).+50 ptsNet profit growthP/E change: −37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−37 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: +12%+12%Share priceNet profit growth: +50 pts. Points of the price return explained by net profit growing (or shrinking).+50ProfitP/E change: −37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−37P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +12%+12%Share price
Net profit growth+50 ptsNet profit rose about 61%, which lifts the price.
P/E change-37 ptsThe P/E fell from 27.4x to 19.3x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+66%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 112 points, but investors now pay less per rupee of profit (P/E 27.5x to 19.3x), which took 46 points back.
  • The share count barely moved.
Net profit growth: +112 pts. Points of the price return explained by net profit growing (or shrinking).+112 ptsNet profit growthP/E change: −46 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−46 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: +66%+66%Share priceNet profit growth: +112 pts. Points of the price return explained by net profit growing (or shrinking).+112ProfitP/E change: −46 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−46P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +66%+66%Share price
Net profit growth+112 ptsNet profit rose about 136%, which lifts the price.
P/E change-46 ptsThe P/E fell from 27.5x to 19.3x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+70%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 109 points, but investors now pay less per rupee of profit (P/E 26.0x to 19.3x), which took 39 points back.
  • The share count barely moved.
Net profit growth: +110 pts. Points of the price return explained by net profit growing (or shrinking).+110 ptsNet profit growthP/E change: −39 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−39 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: +70%+70%Share priceNet profit growth: +110 pts. Points of the price return explained by net profit growing (or shrinking).+110ProfitP/E change: −39 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−39P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +70%+70%Share price
Net profit growth+110 ptsNet profit rose about 130%, which lifts the price.
P/E change-39 ptsThe P/E fell from 26.0x to 19.3x, which lowers 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 ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-65.9%recovered 2025-12
1-year volatility68.3%annualised
Beta vs sector index0.913-year daily, correlation 0.32
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−64.5% 0%−20%−40%−60%2020202220242026−64.5%
Largest drawdowns

-65.9% (2022-04 peak to 2025-04 low, recovered 2025-12)

-60.0% (2020-02 peak to 2020-03 low, recovered 2020-09)

-50.8% (2026-01 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-11-03: 6.1x the 50-day median, price +7.4% that day

2026-11-02: 33.1x the 50-day median, price +12.6% that day

2026-10-09: 21.9x the 50-day median, price +6.9% 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?

19.3xP/E todayWithin its usual range
Against its own history36th percentile
CheapestMedian 23.5xDearest

Usual range 10.0x to 38.1x since 2019-02.

Against Technology Services19.3x vs 21.1x
This company
19.3x
Sector median
21.1x

9% below the Technology Services median.

7.4x22.6x37.7x52.9xFeb '19Sep '20Apr '22Nov '23Jun '25Nov '267.4x22.6x37.7x52.9xFeb '19Sep '21Apr '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

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

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

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

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

All terms explained in the glossary →

How Technology Services is valued

Where does it rank among Technology Services peers?

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

Where it ranks today

  • ROCE81st▲ 26 pts vs a year ago
  • Op. margin75th▲ 3 pts vs a year ago
  • Revenue growth81st▲ 31 pts vs a year ago
  • EPS growth88th▼ 6 pts vs a year ago
  • Debt/equity ↓66th▲ 8 pts vs a year ago
  • Cash cycle ↓52nd▲ 12 pts vs a year ago
  • P/E ↓57th▲ 6 pts vs a year ago
  • 12M momentum82nd▼ 9 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 Technology Services sector page Watch it move against Technology Services 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 34.4x, a holder earning 12%/yr needs earnings to grow about 21.3%/yr for 10 years, then trade at 15x.

Delivered15.3%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+6.0 ptsimplied minus delivered
Rank406thmost demanding of 856

Over time

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

0%17%34% Feb 2019Nov 2026 0%17%34% Feb 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x22.9%24.0%25.1%
15x20.2%21.3%22.4%
20x16.9%17.9%19.0%

Drag a slider to test other assumptions

Implied: 21.3%/yr

Looking back

  • Jan 2020Price implied 12%/yr; EPS has since grown 24%/yr (7.0 yrs)
  • Jan 2021Price implied 16%/yr; EPS has since grown 26%/yr (6.0 yrs)
  • Jan 2022Price implied 29%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹168.71
P/E
19.3x
ROCE
29.0%
Market Cap
₹1639 cr
Revenue (TTM)
₹554 cr
P/S
3.0x
P/B
4.0x
ROE
20.6%
Operating Margin
21.0%
Debt / Equity
0.0x
Promoter Holding
72.8%
12M Momentum
11.9%

52-week range

₹120.33₹257.50
35% of the way from its 52-week low to its high

Price risk

1Y volatility
68.3%
Beta vs sector
1-year daily
1.28

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
1.22x
Share count, 1Y
+1.0%

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance15%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 15.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.22xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.22x (cash from operations ₹179 cr, net profit ₹147 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 history+2 daysWithin range

Debtor days are above the median of the previous three fiscal years by 2 days (77 vs 75). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress9% of fixed assetsWithin range

Capital work-in-progress is 9% 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 2 years, promoters trimmed 1.4 pts.
  • The number of shareholders rose from 29,328 to 34,367 (+17%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters74.2%72.8%-1.4 pts
FIIs0.1%0.4%+0.3 pts
DIIs0.0%0.0%0.0 pts
Public and others25.7%26.8%+1.1 pts

Number of shareholders

34,367shareholders+17% since Dec '23
23k27k31k34k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 29,328
Mar '24: 28,397
Jun '24: 28,179
Sep '24: 27,240
Dec '24: 25,856
Mar '25: 25,047
Jun '25: 25,012
Sep '25: 23,876
Dec '25: 23,227
Mar '26: 32,714
Jun '26: 34,367
 23k27k31k34k Dec '23Dec '24Dec '25Jun '26
Dec '23: 29,328
Mar '24: 28,397
Jun '24: 28,179
Sep '24: 27,240
Dec '24: 25,856
Mar '25: 25,047
Jun '25: 25,012
Sep '25: 23,876
Dec '25: 23,227
Mar '26: 32,714
Jun '26: 34,367

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

−6.1%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 INFOBEANS TECHNOLOGIES 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 −32% to +24% vs the market, against −6% for all non-financial companies in the same months.
  • The gap against the base rate (+0.3%, 80% range −16.3% to +14.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
NIRMAN · Feb 2025: −83.1% vs market
ALLETEC · Jun 2025: −64.0% vs market
EMSLIMITED · Feb 2025: −59.9% vs market
MOREPENLAB · Sep 2021: −58.0% vs market
GGBL · Oct 2025: −46.3% vs market
RADHIKAJWE · Jan 2025: −40.1% vs market
MOLDTECH · Dec 2023: −39.5% vs market
DRCSYSTEMS · Apr 2025: −38.1% vs market
SYSTANGO · Mar 2024: −37.2% vs market
NUCLEUS · Feb 2024: −36.5% vs market
KRBL · Nov 2020: −33.6% vs market
JUSTDIAL · Mar 2021: −33.3% vs market
BALUFORGE · Jul 2025: −32.3% vs market
SHARDACROP · Dec 2022: −30.8% vs market
ALANKIT · Oct 2020: −27.7% vs market
MARKSANS · Mar 2021: −26.3% vs market
SSEGL · Aug 2025: −25.0% vs market
ANUP · Aug 2025: −24.8% vs market
ARROWGREEN · Aug 2024: −22.9% vs market
VOLTAMP · Nov 2024: −22.7% vs market
VILAS · Oct 2025: −22.1% vs market
DATAMATICS · Jan 2024: −19.4% vs market
DYCL · Oct 2025: −16.2% vs market
CYBERTECH · Sep 2021: −13.1% vs market
PLATIND · Apr 2025: −10.8% vs market
FACT · Oct 2021: −1.4% vs market
RSYSTEMS · Apr 2022: +1.9% vs market
RAPPID · Oct 2025: +6.5% vs market
DANISH · Oct 2025: +6.8% vs market
VIDHIING · Oct 2021: +11.9% vs market
THEJO · Nov 2021: +12.2% vs market
GOLDIAM · Oct 2025: +12.4% vs market
ICEMAKE · Aug 2024: +13.7% vs market
EXPLEOSOL · Aug 2021: +13.8% vs market
PIXTRANS · Jun 2025: +14.3% vs market
ASIANENE · Jun 2025: +20.5% vs market
MPSLTD · Jun 2021: +23.2% vs market
BETA · Oct 2022: +24.4% vs market
INDOTECH · May 2025: +26.2% vs market
CONFIPET · Feb 2021: +33.1% vs market
ACE · Nov 2021: +49.3% vs market
GALAPREC · Sep 2025: +58.4% vs market
BLS · Jan 2021: +73.1% vs market
TI · Feb 2025: +73.4% vs market
ZENTEC · Nov 2020: +83.1% vs market
MONARCH · Feb 2023: +95.1% vs market
GRWRHITECH · Jul 2025: +96.3% vs market
SAKSOFT · Nov 2020: +118.4% vs market
FCL · Nov 2021: +177.4% vs market
AEROFLEX · Aug 2025: +186.3% vs market
Similar setups −6.1%All companies −6.4%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−6.1%
All companies' median
−6.4%
Beat the market
48% vs 43%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GOLDIAM
Consumer Durables		 Oct 2025 30x25% +1%−34% +12%
DANISH
Producer Manufacturing		 Oct 2025 30x36% +27%−32% +7%
THEJO
Distribution Services		 Nov 2021 38x28% +140%−24% +12%
NUCLEUS
Technology Services		 Feb 2024 29x27% +147%−19% −37%
INDOTECH
Producer Manufacturing		 May 2025 30x34% +15%−46% +26%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MOREPENLAB
Health Technology		 Sep 2021 26x23% +131%−21% −58%
PLATIND
Process Industries		 Apr 2025 26x27% +15%−49% −11%
PIXTRANS
Producer Manufacturing		 Jun 2025 19x27% +16%−41% +14%
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: 12-month momentum, P/E and P/S. 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 5 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 INFOBEANS TECHNOLOGIES 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.

EURO PRATIK SALESEUROPRATIK
Producer Manufacturing
74%similar
promoter holdingmarket cap
PREMIER POLYFILMPREMIERPOL
Non-Energy Minerals
71%similar
ROCEvolatility
DANISH POWERDANISH
Producer Manufacturing
67%similar
revenuepromoter holding
SAFE ENTERPRISES RETAILSAFEENTP
Miscellaneous
64%similar
P/Epromoter holding
SUPRIYA LIFESCIENCESUPRIYA
Health Technology
64%similar
EPS growthROCE
SAKSOFTSAKSOFT
Technology Services
66%similar
market capdebt/equity
SILVER TOUCH TECHNOLOGIESSILVERTUC
Technology Services
57%similar
market capROCE
NEWGEN SOFTWARE TECHNOLOGIESNEWGEN
Technology Services
46%similar
P/Edebt/equity

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

What changed?

30 events since Jun '23

  1. NovPriceVolume reached 33.1x its 50-day median on 2026-11-02; price +12.6% that day.
  2. AugPriceVolume reached 32.0x its 50-day median on 2026-08-28; price +7.1% that day.
  3. JunPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  4. JunPriceVolume reached 24.2x its 50-day median on 2026-06-02; price +11.8% that day.
  5. MarPriceFell 51% from the Jan 2026 peak to the Mar 2026 low.
  6. MarPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
  7. JanPriceVolume reached 19.4x its 50-day median on 2026-01-02; price +11.6% that day.
  8. DecPriceRegained the 2022-04 peak, 8 months after the low.
Show 22 earlier events
  1. DecPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).
  2. DecPriceVolume reached 36.1x its 50-day median on 2025-12-05; price +12.5% that day.
  3. AugValuationP/E crossed above the 90th percentile of its own history to date (39.4x).
  4. JulPriceVolume reached 115.4x its 50-day median on 2025-07-23; price +20.0% that day.
  5. JunPeer rankMoved into the 2nd quartile of Technology Services on ROCE (from the 3rd quartile).
  6. MayPriceVolume reached 26.7x its 50-day median on 2025-05-13; price +15.0% that day.
  7. AprPriceFell 66% from the Apr 2022 peak to the Apr 2025 low.
  8. MarResultsYear-on-year EPS growth turned positive.
  9. MarPeer rankSlipped to the 3rd quartile of Technology Services on operating margin (from the 2nd quartile).
  10. JanPriceVolume reached 18.0x its 50-day median on 2025-01-28; price -18.0% that day.
  11. DecPeer rankMoved into the 3rd quartile of Technology Services on EPS growth (from the bottom quartile).
  12. OctPriceVolume reached 14.7x its 50-day median on 2024-10-28; price +10.3% that day.
  13. AugPriceVolume reached 24.6x its 50-day median on 2024-08-29; price +2.7% that day.
  14. JunValuationP/E crossed above the 90th percentile of its own history to date (49.2x).
  15. JunPeer rankSlipped to the 3rd quartile of Technology Services on ROCE (from the 2nd quartile).
  16. MayPriceVolume reached 32.8x its 50-day median on 2024-05-07; price +14.3% that day.
  17. JanPriceVolume reached 5.3x its 50-day median on 2024-01-24; price -5.0% that day.
  18. DecPriceVolume reached 48.1x its 50-day median on 2023-12-15; price +12.5% that day.
  19. AugValuationP/E crossed above the 90th percentile of its own history to date (32.5x).
  20. JulPriceVolume reached 12.0x its 50-day median on 2023-07-31; price -5.0% that day.
  21. JunResultsYear-on-year EPS growth turned negative.
  22. JunPeer rankSlipped to the bottom quartile of Technology Services on EPS growth (from the 2nd quartile).

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
2026-1119.3x₹554 cr20.6%29.0%0.0x
2026-1015.7x₹554 cr20.5%29.0%0.0x
2026-0916.4x₹554 cr20.5%29.0%0.0x
2026-0818.1x₹513 cr20.8%29.0%0.0x
2026-0718.7x₹513 cr20.8%29.0%0.0x
2026-0617.7x₹513 cr20.8%29.0%0.0x
2026-0519.1x₹474 cr22.6%17.0%0.1x
2026-0423.1x₹474 cr22.6%17.0%0.1x
2026-0315.9x₹474 cr22.6%17.0%0.1x
2026-0231.6x₹436 cr19.0%17.0%0.1x
2026-0130.9x₹436 cr19.0%17.0%0.1x
2025-1231.5x₹436 cr19.0%17.0%0.1x
2025-1127.4x₹409 cr16.0%17.0%0.1x
2025-1028.1x₹409 cr16.0%17.0%0.1x
2025-0921.5x₹409 cr16.0%17.0%0.1x
2025-0839.4x₹394 cr11.4%17.0%0.1x
2025-0738.1x₹394 cr11.4%17.0%0.1x
2025-0624.4x₹394 cr11.4%17.0%0.1x
2025-0523.8x₹388 cr12.5%12.0%0.1x
2025-0420.1x₹388 cr12.5%12.0%0.1x
2025-0319.4x₹388 cr12.5%12.0%0.1x
2025-0221.7x₹381 cr12.2%12.0%0.1x
2025-0124.7x₹381 cr12.2%12.0%0.1x
2024-1228.5x₹381 cr12.2%12.0%0.1x
2024-1138.9x₹374 cr9.2%12.0%0.1x
2024-1038.1x₹374 cr9.2%12.0%0.1x
2024-0938.8x₹374 cr9.2%12.0%0.1x
2024-0850.1x₹369 cr7.5%12.0%0.1x
2024-0747.7x₹369 cr7.5%12.0%0.1x
2024-0649.2x₹369 cr7.5%12.0%0.1x
2024-0527.0x₹385 cr13.3%19.0%0.1x
2024-0426.3x₹385 cr13.3%19.0%0.1x
2024-0324.7x₹385 cr13.3%19.0%0.1x
2024-0227.4x₹385 cr13.3%19.0%0.1x
2024-0128.2x₹385 cr13.3%19.0%0.1x
2023-1229.5x₹385 cr13.3%19.0%0.1x
2023-1127.5x₹385 cr13.3%19.0%0.1x
2023-1028.1x₹385 cr13.3%19.0%0.1x
2023-0931.0x₹385 cr13.3%19.0%0.1x
2023-0832.5x₹385 cr13.3%19.0%0.1x
2023-0731.3x₹385 cr13.3%19.0%0.1x
2023-0630.9x₹385 cr13.3%19.0%0.1x
2023-0520.1x₹271 cr23.7%27.0%0.1x
2023-0420.4x₹271 cr23.7%27.0%0.1x
2023-0319.8x₹271 cr23.7%27.0%0.1x
2023-0222.0x₹271 cr23.7%27.0%0.1x
2023-0121.6x₹271 cr23.7%27.0%0.1x
2022-1223.2x₹271 cr23.7%27.0%0.1x
2022-1122.7x₹271 cr23.7%27.0%0.1x
2022-1023.9x₹271 cr23.7%27.0%0.1x
2022-0924.6x₹271 cr23.7%27.0%0.1x
2022-0829.0x₹271 cr23.7%27.0%0.1x
2022-0731.7x₹271 cr23.7%27.0%0.1x
2022-0627.9x₹271 cr23.7%27.0%0.1x
2022-0547.5x₹180 cr20.4%19.0%0.2x
2022-0452.9x₹180 cr20.4%19.0%0.2x
2022-0347.4x₹180 cr20.4%19.0%0.2x
2022-0235.9x₹180 cr20.4%19.0%0.2x
2022-0137.1x₹180 cr20.4%19.0%0.2x
2021-1227.2x₹180 cr20.4%19.0%0.2x

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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