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INDIA PESTICIDES LIMITED (IPL)

Process Industries · Chemicals: Agricultural · 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.67 / 100
Profitability 68Growth 46Balance sheet 88
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.27 / 100
Price 16Earnings 52FII/DII 13

Passes these screensDebt-light & profitable

Compare withFERTILIZERS AND CHEMICALS TRAVUPLSUMITOMO CHEMICAL INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹116.78 latest close · −28.8% over the last 90 sessions

₹120₹140₹160Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹120₹140₹160Jul 3Sep 4Nov 9

₹116.78 month-end · −34.4% over 12 months

₹120₹140₹160₹180Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹120₹140₹160₹180Nov '25May '26Nov '26

₹116.78 month-end · −63.3% over 3 years

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

₹116.78 month-end · −65.4% since Jul '21

₹100₹200₹300₹400Jul '21Aug '22Sep '23Sep '24Oct '25Nov '26 ₹100₹200₹300₹400Jul '21Mar '24Nov '26

52-week range ₹109.26 to ₹196.93 · 1-year volatility 33.0%

Was the rally earned?

-34%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 7 points, but investors now pay less per rupee of profit (P/E 20.8x to 12.5x), which took 41 points back.
  • The share count barely moved.
Net profit growth: +7 pts. Points of the price return explained by net profit growing (or shrinking).+7 ptsNet profit growthP/E change: −41 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−41 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: −34%−34%Share priceNet profit growth: +7 pts. Points of the price return explained by net profit growing (or shrinking).+7ProfitP/E change: −41 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−41P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −34%−34%Share price
Net profit growth+7 ptsNet profit rose about 8%, which lifts the price.
P/E change-41 ptsThe P/E fell from 20.8x to 12.5x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-63%share price, 3 yearsMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 25.6x to 12.5x); per-share earnings took off 18 points.
  • The share count barely moved.
Net profit growth: −18 pts. Points of the price return explained by net profit growing (or shrinking).−18 ptsNet profit growthP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45 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: −63%−63%Share priceNet profit growth: −18 pts. Points of the price return explained by net profit growing (or shrinking).−18ProfitP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −63%−63%Share price
Net profit growth-18 ptsNet profit fell about 25%, which lowers the price.
P/E change-45 ptsThe P/E fell from 25.6x to 12.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-61%share price, 5 yearsMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 24.6x to 12.5x); per-share earnings took off 16 points.
  • The share count rose 2%.
Net profit growth: −15 pts. Points of the price return explained by net profit growing (or shrinking).−15 ptsNet profit growthP/E change: −44 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−44 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: −60%−60%Share priceNet profit growth: −15 pts. Points of the price return explained by net profit growing (or shrinking).−15ProfitP/E change: −44 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−44P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −60%−60%Share price
Net profit growth-15 ptsNet profit fell about 21%, which lowers the price.
P/E change-44 ptsThe P/E fell from 24.6x to 12.5x, which lowers the price.
Share count change-1 ptsShare count rose 2%, 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.

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

Compare this with FERTILIZERS AND CHEMICALS TRAV

How rough has the ride been?

Maximum drawdown-72.4%not yet recovered
1-year volatility33.0%annualised
Beta vs sector index1.393-year daily, correlation 0.55
Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20222023202420252026−72.4% 0%−20%−40%−60%202220242026−72.4%
Largest drawdowns

-72.4% (2024-02 peak to 2026-10 low, not yet recovered)

-43.3% (2021-07 peak to 2023-03 low, recovered 2023-12)

Most recent volume spikes

2026-09-17: 7.6x the 50-day median, price +0.7% that day

2026-09-16: 271.4x the 50-day median, price +3.8% that day

2026-08-03: 6.6x the 50-day median, price -3.6% 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?

12.5xP/E todayNear its historic low
Against its own history3rd percentile
CheapestMedian 22.2xDearest

Usual range 15.2x to 32.9x since 2021-07.

Against Process Industries12.5x vs 18.1x
This company
12.5x
Sector median
18.1x

31% below the Process Industries median.

12.1x22.9x33.8x44.7xJul '21Aug '22Sep '23Oct '24Nov '25Nov '2612.1x22.9x33.8x44.7xJul '21May '23Mar '25Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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

  • ROCE72nd▲ 13 pts vs a year ago
  • Op. margin63rd▼ 16 pts vs a year ago
  • Revenue growth71st▼ 13 pts vs a year ago
  • EPS growth51st▼ 29 pts vs a year ago
  • Debt/equity ↓75th▼ 5 pts vs a year ago
  • Cash cycle ↓16th▲ 6 pts vs a year ago
  • P/E ↓68th▲ 17 pts vs a year ago
  • 12M momentum14th▼ 61 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~9%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 12.1x, a holder earning 12%/yr needs earnings to grow about 9.1%/yr for 10 years, then trade at 15x.

Delivered−16.4%/yrEPS, last 6 fiscal years · 3-yr avg to 3-yr avg
Gap+25.4 ptsimplied minus delivered
Rank84thmost demanding of 856

Over time

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

-16%2%20% Jul 2021Nov 2026 -16%2%20% Jul 2021Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x10.5%11.4%12.4%
15x8.1%9.1%10.0%
20x5.1%6.0%7.0%

Drag a slider to test other assumptions

Implied: 9.1%/yr

Looking back

  • Jan 2022Price implied 18%/yr; EPS has since grown −4%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹116.78
P/E
12.5x
ROCE
17.0%
Market Cap
₹1340 cr
Revenue (TTM)
₹1033 cr
P/S
1.3x
P/B
1.3x
ROE
10.6%
Operating Margin
14.0%
Debt / Equity
0.1x
Promoter Holding
63.6%
12M Momentum
-34.4%

52-week range

₹109.26₹196.93
9% of the way from its 52-week low to its high

Price risk

1Y volatility
33.0%
Beta vs sector
1-year daily
1.10

Balance sheet & cash

Interest cover
operating profit ÷ interest
19.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.69x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance11%Within range

Other income as a share of pre-tax profit (trailing twelve months): 10.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.69xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.69x (cash from operations ₹180 cr, net profit ₹262 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-4 daysWithin range

Debtor days are below the median of the previous three fiscal years by 4 days (124 vs 128). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress18% of fixed assetsWithin range

Capital work-in-progress is 18% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days0 days / 2 yrsWithin range

Days payable changed by 0 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 trimmed 1.7 pts.
  • The number of shareholders fell from 1.2 lakh to 94,075 (-20%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters63.6%63.6%0.0 pts
FIIs0.3%0.2%-0.1 pts
DIIs1.7%0.0%-1.7 pts
Public and others34.4%36.1%+1.8 pts

Number of shareholders

94,075shareholders-20% since Sep '23
94k1.0L1.1L1.2L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 1.2 lakh
Dec '23: 98,758
Mar '24: 95,758
Jun '24: 99,882
Sep '24: 1.1 lakh
Dec '24: 1.1 lakh
Mar '25: 1.1 lakh
Jun '25: 1.0 lakh
Sep '25: 95,314
Dec '25: 95,456
Mar '26: 93,551
Jun '26: 94,075
 94k1.0L1.1L1.2L Sep '23Sep '24Sep '25Jun '26
Sep '23: 1.2 lakh
Dec '23: 98,758
Mar '24: 95,758
Jun '24: 99,882
Sep '24: 1.1 lakh
Dec '24: 1.1 lakh
Mar '25: 1.1 lakh
Jun '25: 1.0 lakh
Sep '25: 95,314
Dec '25: 95,456
Mar '26: 93,551
Jun '26: 94,075

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

−11.1%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like INDIA PESTICIDES 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 −27% to +9% vs the market, against −4% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −6.9%, 80% range −13.1% to −0.3%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
NOVAAGRI · Jul 2025: −59.8% vs market
ROUTE · Feb 2025: −56.1% vs market
KRBL · Oct 2023: −41.8% vs market
GANESHBE · Jul 2024: −40.5% vs market
ANDHRSUGAR · Apr 2023: −37.6% vs market
ROSSARI · Sep 2025: −32.8% vs market
GNA · Jan 2024: −32.2% vs market
DBCORP · Apr 2020: −32.2% vs market
CHEMCON · Mar 2024: −30.8% vs market
ASAHISONG · Feb 2022: −30.8% vs market
INDOCO · Apr 2024: −30.0% vs market
MASTEK · Oct 2025: −29.4% vs market
GHCL · May 2023: −27.5% vs market
NGLFINE · Dec 2024: −26.5% vs market
GTPL · Aug 2023: −26.3% vs market
BHAGERIA · Jul 2022: −26.2% vs market
RADIANTCMS · Sep 2024: −25.6% vs market
VENKEYS · May 2023: −25.0% vs market
BALMLAWRIE · Jul 2021: −23.7% vs market
GUJALKALI · Sep 2023: −21.7% vs market
PLASTIBLEN · May 2022: −15.6% vs market
DCMSHRIRAM · Jul 2023: −14.3% vs market
LUXIND · Jul 2025: −14.1% vs market
LINC · Apr 2025: −11.6% vs market
EXPLEOSOL · Apr 2025: −11.1% vs market
FMGOETZE · Dec 2023: −11.0% vs market
JKIL · Dec 2020: −10.0% vs market
APEX · May 2021: −9.8% vs market
KKCL · Jun 2025: −3.8% vs market
REPL · Jun 2024: −2.7% vs market
MAYURUNIQ · Mar 2024: +0.2% vs market
SANDHAR · May 2020: +0.3% vs market
IFGLEXPOR · May 2022: +1.0% vs market
PYRAMID · Aug 2024: +1.2% vs market
LUMAXTECH · Jan 2020: +2.6% vs market
GOODYEAR · Nov 2021: +5.8% vs market
CONTROLPR · Aug 2024: +5.8% vs market
NRBBEARING · Mar 2025: +9.4% vs market
VEEDOL · Dec 2022: +11.4% vs market
TECHNOE · Nov 2021: +20.7% vs market
EXCELINDUS · Jan 2022: +21.7% vs market
BANCOINDIA · Feb 2020: +32.2% vs market
KIRLOSENG · Jun 2020: +36.5% vs market
TCI · Jun 2020: +50.9% vs market
INSECTICID · Oct 2021: +62.6% vs market
GRANULES · Aug 2023: +63.8% vs market
AMBIKCO · Apr 2021: +101.5% vs market
CYIENT · Apr 2020: +102.1% vs market
GRWRHITECH · Mar 2023: +123.6% vs market
SHRIPISTON · Jun 2022: +133.2% vs market
Similar setups −11.1%All companies −4.2%← 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
−11.1%
All companies' median
−4.2%
Beat the market
40% vs 45%

50 past situations · 50 companies · 40 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INSECTICID
Process Industries		 Oct 2021 14x15% +39%−23% +63%
SHRIPISTON
Producer Manufacturing		 Jun 2022 9x17% −28%−39% +133%
BHAGERIA
Process Industries		 Jul 2022 11x19% −34%−42% −26%
BANCOINDIA
Producer Manufacturing		 Feb 2020 9x17% −41%−48% +32%
EXPLEOSOL
Technology Services		 Apr 2025 12x20% −35%−44% −11%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GANESHBE
Transportation		 Jul 2024 19x18% +8%−21% −41%
ROUTE
Communications		 Feb 2025 17x21% −39%−48% −56%
AMBIKCO
Process Industries		 Apr 2021 9x14% +30%−23% +102%
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 INDIA PESTICIDES 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.

EXPLEO SOLUTIONSEXPLEOSOL
Technology Services
68%similar
market capEPS growth
GUJARAT INDUSTRIES POWER CO LGIPCL
Utilities
67%similar
ROCEP/E
GREENPANEL INDUSTRIESGREENPANEL
Non-Energy Minerals
66%similar
P/EEPS growth
JAGRAN PRAKASHANJAGRAN
Consumer Services
65%similar
operating marginmarket cap
KALYANI STEELSKSL
Non-Energy Minerals
63%similar
promoter holdingP/E
DHARMAJ CROP GUARDDHARMAJ
Process Industries
68%similar
ROCEP/E
CHAMAN LAL SETIA EXPORTSCLSEL
Process Industries
62%similar
market capP/E
SREE RAYALASEEMA HI-STRENGTH HSRHHYPOLTD
Process Industries
61%similar
operating marginpromoter holding

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. OctPriceFell 72% from the Feb 2024 peak to the Oct 2026 low.
  2. SepPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  3. SepPriceVolume reached 271.4x its 50-day median on 2026-09-16; price +3.8% that day.
  4. MayPriceVolume reached 83.6x its 50-day median on 2026-05-06; price +5.6% that day.
  5. MarValuationP/E fell below the 10th percentile of its own history to date (13.0x).
  6. FebPriceVolume reached 5.8x its 50-day median on 2026-02-10; price +0.7% that day.
  7. DecResultsRevenue (TTM) reached a new high of ₹944 cr.
  8. DecPriceVolume reached 86.2x its 50-day median on 2025-12-29; price +4.4% that day.
Show 22 earlier events
  1. SepPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  2. AugPriceVolume reached 13.9x its 50-day median on 2025-08-08; price +1.6% that day.
  3. JulPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  4. JunResultsYear-on-year EPS growth turned positive.
  5. JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the bottom quartile).
  6. MayValuationP/E crossed above the 90th percentile of its own history to date (38.4x).
  7. MayPriceVolume reached 30.7x its 50-day median on 2025-05-27; price +10.3% that day.
  8. MarPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
  9. MarPriceVolume reached 7.9x its 50-day median on 2025-03-24; price +10.1% that day.
  10. DecPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  11. DecPriceVolume reached 8.5x its 50-day median on 2024-12-10; price -0.8% that day.
  12. SepPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the bottom quartile).
  13. AugPriceVolume reached 5.5x its 50-day median on 2024-08-28; price +6.7% that day.
  14. JunValuationP/E crossed above the 90th percentile of its own history to date (44.7x).
  15. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  16. MarPriceVolume reached 5.7x its 50-day median on 2024-03-12; price -8.5% that day.
  17. DecPriceRegained the 2021-07 peak, 9 months after the low.
  18. DecValuationP/E crossed above the 90th percentile of its own history to date (29.3x).
  19. OctPriceVolume reached 8.2x its 50-day median on 2023-10-19; price +2.1% that day.
  20. AugPriceVolume reached 126.0x its 50-day median on 2023-08-30; price +8.2% that day.
  21. JunResultsYear-on-year EPS growth turned negative.
  22. MarPriceFell 43% 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 history65 months · 2021-07 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1112.5x₹1033 cr10.6%17.0%0.1x
2026-1012.1x₹1033 cr10.8%17.0%0.1x
2026-0914.2x₹1033 cr10.8%17.0%0.1x
2026-0813.2x₹1056 cr12.0%17.0%0.1x
2026-0714.8x₹1056 cr12.0%17.0%0.1x
2026-0615.6x₹1056 cr12.0%17.0%0.1x
2026-0517.1x₹997 cr12.5%13.0%0.1x
2026-0415.6x₹997 cr12.5%13.0%0.1x
2026-0313.0x₹997 cr12.5%13.0%0.1x
2026-0217.4x₹944 cr11.7%13.0%0.1x
2026-0117.4x₹944 cr11.7%13.0%0.1x
2025-1219.1x₹944 cr11.7%13.0%0.1x
2025-1120.8x₹883 cr11.0%13.0%0.1x
2025-1022.2x₹883 cr11.0%13.0%0.1x
2025-0924.2x₹883 cr11.0%13.0%0.1x
2025-0829.2x₹828 cr9.2%13.0%0.1x
2025-0731.8x₹828 cr9.2%13.0%0.1x
2025-0630.9x₹828 cr9.2%13.0%0.1x
2025-0538.4x₹747 cr7.5%11.0%0.0x
2025-0426.5x₹747 cr7.5%11.0%0.0x
2025-0324.7x₹747 cr7.5%11.0%0.0x
2025-0220.8x₹726 cr8.5%11.0%0.0x
2025-0127.1x₹726 cr8.5%11.0%0.0x
2024-1229.5x₹726 cr8.5%11.0%0.0x
2024-1133.6x₹699 cr7.8%11.0%0.0x
2024-1033.7x₹699 cr7.8%11.0%0.0x
2024-0937.3x₹699 cr7.8%11.0%0.0x
2024-0842.9x₹680 cr7.4%11.0%0.0x
2024-0743.4x₹680 cr7.4%11.0%0.0x
2024-0644.7x₹680 cr7.4%11.0%0.0x
2024-0517.3x₹885 cr18.5%27.0%0.0x
2024-0419.0x₹885 cr18.5%27.0%0.0x
2024-0316.3x₹885 cr18.5%27.0%0.0x
2024-0230.1x₹885 cr18.5%27.0%0.0x
2024-0131.8x₹885 cr18.5%27.0%0.0x
2023-1229.3x₹885 cr18.5%27.0%0.0x
2023-1125.6x₹885 cr18.5%27.0%0.0x
2023-1022.5x₹885 cr18.5%27.0%0.0x
2023-0923.7x₹885 cr18.5%27.0%0.0x
2023-0822.4x₹885 cr18.5%27.0%0.0x
2023-0717.8x₹885 cr18.5%27.0%0.0x
2023-0617.5x₹885 cr18.5%27.0%0.0x
2023-0515.9x₹716 cr24.8%40.0%0.0x
2023-0416.2x₹716 cr24.8%40.0%0.0x
2023-0315.1x₹716 cr24.8%40.0%0.0x
2023-0215.3x₹716 cr24.8%40.0%0.0x
2023-0117.0x₹716 cr24.8%40.0%0.0x
2022-1218.4x₹716 cr24.8%40.0%0.0x
2022-1118.4x₹716 cr24.8%40.0%0.0x
2022-1019.7x₹716 cr24.8%40.0%0.0x
2022-0920.8x₹716 cr24.8%40.0%0.0x
2022-0820.7x₹716 cr24.8%40.0%0.0x
2022-0721.6x₹716 cr24.8%40.0%0.0x
2022-0617.7x₹716 cr24.8%40.0%0.0x
2022-0519.9x₹649 cr34.7%—0.1x
2022-0423.7x₹649 cr34.7%—0.1x
2022-0322.4x₹649 cr34.7%—0.1x
2022-0223.5x₹649 cr34.7%—0.1x
2022-0125.1x₹649 cr34.7%—0.1x
2021-1226.1x₹649 cr34.7%—0.1x
2021-1124.6x₹649 cr34.7%—0.1x
2021-1027.9x₹649 cr34.7%—0.1x
2021-0925.7x₹649 cr34.7%—0.1x
2021-0826.5x₹649 cr34.7%—0.1x
2021-0728.1x₹649 cr34.7%—0.1x

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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