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INTEGRITY INFRABUILD DEV LTD (INTEGRITY)

Industrial Services · Engineering & Construction · 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.65 / 100
Profitability 93Balance sheet 36

Passes these screensQuality CompounderHigh MomentumNear 52-week high

Compare withLARSEN AND TOUBROJSW INFRASTRUCTURERAIL VIKAS NIGAM

Share price

Closing priceAdjusted for splits and bonus issues.

₹200.25 latest close · +64.1% over the last 90 sessions

₹100₹150₹200Feb 25Apr 23Jun 30Aug 17Oct 5Nov 9 ₹100₹150₹200Feb 25Jul 23Nov 9

₹200.25 month-end · +57.0% over 12 months

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

₹200.25 month-end · +99.1% since May '25

₹100₹150₹200May '25Sep '25Dec '25Apr '26Jul '26Nov '26 ₹100₹150₹200May '25Feb '26Nov '26

52-week range ₹81.70 to ₹205.00 · 1-year volatility 43.1%

Was the rally earned?

+57%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 74 points, but investors now pay less per rupee of profit (P/E 14.3x to 12.5x), which took 17 points back.
  • The share count rose 33%.
Net profit growth: +110 pts. Points of the price return explained by net profit growing (or shrinking).+110 ptsNet profit growthP/E change: −17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−17 ptsP/E changeShare count change: −36 pts. Points of the price return explained by the share count changing. More shares count against the price.−36 ptsShare count changeShare price: +57%+57%Share priceNet profit growth: +110 pts. Points of the price return explained by net profit growing (or shrinking).+110ProfitP/E change: −17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−17P/EShare count change: −36 pts. Points of the price return explained by the share count changing. More shares count against the price.−36SharesShare price: +57%+57%Share price
Net profit growth+110 ptsNet profit rose about 139%, which lifts the price.
P/E change-17 ptsThe P/E fell from 14.3x to 12.5x, which lowers the price.
Share count change-36 ptsShare count rose 33%, which lowers 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.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with LARSEN AND TOUBRO

How rough has the ride been?

Maximum drawdown-26.6%recovered 2026-05
1-year volatility43.1%annualised

Drawdown from peak

0%−10%−20%2026−26.6% 0%−10%−20%2026−26.6%
Largest drawdowns

-26.6% (2025-11 peak to 2026-03 low, recovered 2026-05)

Where does it rank among Industrial Services peers?

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

  • ROCE93rd▲ 7 pts vs a year ago
  • Revenue growth86th
  • EPS growth88th
  • Debt/equity ↓33rd▲ 29 pts vs a year ago
  • Cash cycle ↓82nd▼ 7 pts vs a year ago
  • P/E ↓57th▼ 6 pts vs a year ago
  • 12M momentum93rd

Rank history

ROCE
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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~23%annual earnings growth implied by the price

At a P/E of 39.7x, the price would imply about 23.4%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹200.25
P/E
12.5x
ROCE
36.0%
Market Cap
₹86 cr
Revenue (TTM)
₹174 cr
P/S
0.5x
P/B
3.2x
ROE
25.6%
Debt / Equity
0.6x
Promoter Holding
70.5%
12M Momentum
57.0%

52-week range

₹81.70₹205.00
96% of the way from its 52-week low to its high

Price risk

1Y volatility
43.1%
Beta vs sector
1-year daily
0.14

Balance sheet & cash

Interest cover
operating profit ÷ interest
11.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.27x
low
Share count, 1Y
+33.3%

Are profits backed by cash?

2 of 4checks within range2 beyond a threshold
Other income reliance0%Within range

Other income as a share of pre-tax profit (trailing twelve months): 0.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion0.27xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.27x (cash from operations ₹3 cr, net profit ₹11 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—Not enough data

Not enough reported data to compute this.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

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

All terms explained in the glossary →

What happened next to similar setups

+13.0%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like INTEGRITY INFRABUILD DEV LTD today on valuation, return on capital, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −19% to +52% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +17.5%, 80% range +6.8% to +26.6%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
SONUINFRA · Jul 2025: −69.0% vs market
MASON · Oct 2025: −57.8% vs market
UGARSUGAR · Jul 2023: −57.2% vs market
KUANTUM · Jun 2023: −44.3% vs market
ALUWIND · Aug 2025: −44.1% vs market
DENEERS · Jun 2025: −43.9% vs market
SPIC · Aug 2025: −41.7% vs market
EUROBOND · Aug 2025: −40.1% vs market
RPPINFRA · Jul 2024: −37.8% vs market
GEEKAYWIRE · Apr 2024: −35.8% vs market
HARRMALAYA · Jun 2021: −33.5% vs market
HECPROJECT · Jun 2025: −26.5% vs market
SHUBHSHREE · Oct 2025: −18.9% vs market
NAGREEKEXP · Jul 2021: −17.5% vs market
BHARATGEAR · Aug 2022: −5.3% vs market
TOTAL · Aug 2022: −3.5% vs market
BBTC · Jun 2024: −2.9% vs market
SSWL · Jun 2022: +2.5% vs market
DPABHUSHAN · Nov 2021: +2.6% vs market
20MICRONS · Jun 2024: +2.6% vs market
DHARMAJ · Jul 2024: +2.8% vs market
THANGAMAYL · Aug 2021: +3.3% vs market
BIRLACABLE · Jul 2023: +6.7% vs market
PPL · Apr 2021: +11.9% vs market
UNIVASTU · Sep 2024: +12.6% vs market
AGARIND · Jan 2022: +13.5% vs market
ZEEMEDIA · Sep 2021: +16.5% vs market
SRHHYPOLTD · Jun 2021: +17.2% vs market
TEMBO · Oct 2024: +21.4% vs market
KAPSTON · Jul 2024: +22.9% vs market
DPWIRES · Apr 2020: +30.4% vs market
ARCHIDPLY · Jun 2022: +35.6% vs market
JASH · Jan 2021: +39.2% vs market
SMLT · Jan 2023: +39.7% vs market
RADHIKAJWE · Jul 2024: +46.8% vs market
CLSEL · Dec 2023: +47.4% vs market
COSMOFIRST · Jun 2021: +51.2% vs market
SRM · Apr 2025: +51.9% vs market
UNITEDPOLY · Mar 2025: +56.5% vs market
JWL · Apr 2022: +88.6% vs market
PRITI · Jan 2022: +106.0% vs market
DSSL · Dec 2021: +107.3% vs market
THOMASCOTT · Aug 2023: +112.0% vs market
KMSUGAR · Jun 2020: +118.7% vs market
PITTIENG · Jun 2021: +119.4% vs market
THEJO · Aug 2020: +131.8% vs market
GRAVITA · Dec 2020: +181.8% vs market
SILKFLEX · Sep 2025: +190.9% vs market
GTL · Sep 2020: +193.1% vs market
UNIHEALTH · Jun 2025: +263.2% vs market
Similar setups +13.0%All companies −4.5%← 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 · 10 beyond the range shown, drawn at the edge

Similar setups' median
+13.0%
All companies' median
−4.5%
Beat the market
66% vs 45%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SMLT
Miscellaneous		 Jan 2023 8x40% +50%−4% +40%
THOMASCOTT
Consumer Non-Durables		 Aug 2023 17x28% +100%0% +112%
DPWIRES
Producer Manufacturing		 Apr 2020 5x30% −12%— +30%
TEMBO
Producer Manufacturing		 Oct 2024 33x24% +122%−2% +21%
ARCHIDPLY
Producer Manufacturing		 Jun 2022 12x— +42%−14% +36%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AGARIND
Process Industries		 Jan 2022 14x20% +296%0% +14%
JWL
Producer Manufacturing		 Apr 2022 10x— +245%−2% +89%
SONUINFRA
Industrial Services		 Jul 2025 12x— +78%−12% −69%
How reliable is this?

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

7 events since Jun '25

  1. JulDebtDebt / equity halved over 12 months to 0.63x.
  2. JunResultsRevenue (TTM) reached a new high of ₹174 cr.
  3. JunDebtDebt / equity fell below 1.0x (0.63x).
  4. JunSharesShare count is up 33.3% over 12 months.
  5. MayPriceRegained the 2025-11 peak, 2 months after the low.
  6. MarPriceFell 27% from the Nov 2025 peak to the Mar 2026 low.
  7. JunPeer rankMoved into the top quartile of Industrial Services on ROCE (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 history19 months · 2025-05 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1112.5x₹174 cr25.6%36.0%0.6x
2026-1012.5x₹174 cr25.9%36.0%0.6x
2026-0911.6x₹174 cr25.9%36.0%0.6x
2026-0810.9x₹174 cr25.9%36.0%0.6x
2026-079.6x₹174 cr25.9%36.0%0.6x
2026-069.9x₹174 cr25.9%36.0%0.6x
2026-0519.6x₹109 cr48.2%30.0%2.2x
2026-0416.0x₹109 cr48.2%30.0%2.2x
2026-0311.8x₹109 cr48.2%30.0%2.2x
2026-0213.2x₹109 cr48.2%30.0%2.2x
2026-0114.3x₹109 cr48.2%30.0%2.2x
2025-1214.8x₹109 cr48.2%30.0%2.2x
2025-1114.3x₹109 cr48.2%30.0%2.2x
2025-1011.2x₹109 cr48.2%30.0%2.2x
2025-0911.3x₹109 cr48.2%30.0%2.2x
2025-0811.5x₹109 cr48.2%30.0%2.2x
2025-0711.2x₹109 cr48.2%30.0%2.2x
2025-0611.3x₹109 cr48.2%30.0%2.2x
2025-05—₹64 cr33.3%19.0%3.7x

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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