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ITC LIMITED (ITC)

Consumer Non-Durables · Tobacco · 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.75 / 100
Profitability 93Growth 32Balance 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.38 / 100
Price 63Earnings 33FII/DII 19

Passes these screensQuality CompounderDebt-light & profitable

Compare withGODFREY PHILLIPS INDIAVST INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹278.8 latest close · −3.8% over the last 90 sessions

₹260₹280Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹260₹280Jul 3Sep 4Nov 9

₹278.8 month-end · −27.7% over 12 months

₹250₹300₹350Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹250₹300₹350Nov '25May '26Nov '26

₹278.8 month-end · −22.4% over 3 years

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

₹278.8 month-end · +21.3% since Jan '19

₹200₹300₹400Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹200₹300₹400Jan '19Dec '22Nov '26

52-week range ₹252.80 to ₹395.25 · 1-year volatility 23.1%

Was the rally earned?

-28%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 48 points, while the multiple moved less (P/E 13.8x to 17.6x).
  • The share count barely moved.
Net profit growth: −49 pts. Points of the price return explained by net profit growing (or shrinking).−49 ptsNet profit growthP/E change: +21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+21 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: −28%−28%Share priceNet profit growth: −49 pts. Points of the price return explained by net profit growing (or shrinking).−49ProfitP/E change: +21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+21P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −28%−28%Share price
Net profit growth-49 ptsNet profit fell about 44%, which lowers the price.
P/E change+21 ptsThe P/E rose from 13.8x to 17.6x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-22%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 2 points, but investors now pay less per rupee of profit (P/E 23.3x to 17.6x), which took 25 points back.
  • The share count barely moved.
Net profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2 ptsNet profit growthP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25 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: −22%−22%Share priceNet profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2ProfitP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −22%−22%Share price
Net profit growth+2 ptsNet profit rose about 2%, which lifts the price.
P/E change-25 ptsThe P/E fell from 23.3x to 17.6x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+53%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 49 points to the rise, while the multiple moved less (P/E 17.1x to 17.6x).
  • The share count barely moved.
Net profit growth: +49 pts. Points of the price return explained by net profit growing (or shrinking).+49 ptsNet profit growthP/E change: +4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+4 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: +53%+53%Share priceNet profit growth: +49 pts. Points of the price return explained by net profit growing (or shrinking).+49ProfitP/E change: +4 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+4P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +53%+53%Share price
Net profit growth+49 ptsNet profit rose about 48%, which lifts the price.
P/E change+4 ptsThe P/E rose from 17.1x to 17.6x, which lifts the price.
Share count change0 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 GODFREY PHILLIPS INDIA

How rough has the ride been?

Maximum drawdown-52.1%recovered 2022-08
1-year volatility23.1%annualised
Beta vs sector index0.643-year daily, correlation 0.45
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−48.5% 0%−20%−40%2020202220242026−48.5%
Largest drawdowns

-52.1% (2019-04 peak to 2020-03 low, recovered 2022-08)

-42.2% (2025-02 peak to 2026-10 low, not yet recovered)

-18.0% (2023-07 peak to 2024-02 low, recovered 2024-07)

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?

17.6xP/E todayWithin its usual range
Against its own history44th percentile
CheapestMedian 19.7xDearest

Usual range 12.9x to 25.0x since 2019-01.

Against Consumer Non-Durables17.6x vs 26.8x
This company
17.6x
Sector median
26.8x

34% below the Consumer Non-Durables median.

10.0x23.2x36.3x49.5xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.0x23.2x36.3x49.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianConsumer Non-Durables 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 Consumer Non-Durables is valued

Where does it rank among Consumer Non-Durables peers?

Each cell is the company's percentile rank among its Consumer Non-Durables 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

  • ROCE93rdflat vs a year ago
  • Op. margin93rd▼ 4 pts vs a year ago
  • Revenue growth14th▼ 49 pts vs a year ago
  • EPS growth10th▼ 80 pts vs a year ago
  • Debt/equity ↓85th▼ 10 pts vs a year ago
  • Cash cycle ↓41st▼ 4 pts vs a year ago
  • P/E ↓71st▼ 20 pts vs a year ago
  • 12M momentum26th▼ 41 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 Consumer Non-Durables sector page Watch it move against Consumer Non-Durables in the Observatory

What is the price implying?

~7%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 15.9x, a holder earning 12%/yr needs earnings to grow about 7.1%/yr for 10 years, then trade at 15x.

Delivered11.6%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−4.5 ptsimplied minus delivered
Rank623rdmost demanding of 856

Over time

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

0%8%15% Jan 2019Nov 2026 0%8%15% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x7.9%8.9%9.8%
15x6.1%7.1%8.0%
20x3.8%4.8%5.7%

Drag a slider to test other assumptions

Implied: 7.1%/yr

Looking back

  • Jan 2020Price implied 11%/yr; EPS has since grown 7%/yr (7.0 yrs)
  • Jan 2021Price implied 7%/yr; EPS has since grown 5%/yr (6.0 yrs)
  • Jan 2022Price implied 10%/yr; EPS has since grown 9%/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 Consumer Non-Durables The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹278.80
P/E
17.6x
ROCE
39.0%
Market Cap
₹3.49L cr
Revenue (TTM)
₹76488 cr
P/S
4.6x
P/B
4.8x
ROE
27.3%
Operating Margin
27.0%
Debt / Equity
0.0x
12M Momentum
-27.7%

52-week range

₹252.80₹395.25
18% of the way from its 52-week low to its high

Price risk

1Y volatility
23.1%
Beta vs sector
1-year daily
0.74

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.69x
Share count, 1Y
+0.2%

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance11%Within range

Other income as a share of pre-tax profit (trailing twelve months): 10.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

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

Cash conversion0.69xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.69x (cash from operations ₹53,270 cr, net profit ₹76,821 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-4 daysWithin range

Debtor days are below the median of the previous three fiscal years by 4 days (18 vs 22). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress7% of fixed assetsWithin range

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

Payable days-2 days / 2 yrsWithin range

Days payable changed by -2 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 2 years, FIIs trimmed 9.0 pts; DIIs added 7.2 pts.
  • The number of shareholders rose from 33.4 lakh to 41.5 lakh (+24%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters———
FIIs43.3%34.2%-9.0 pts
DIIs42.0%49.1%+7.2 pts
Public and others14.7%16.6%+1.9 pts

Number of shareholders

41.5 lakhshareholders+24% since Dec '23
33.4L36.1L38.8L41.5L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 33.4 lakh
Mar '24: 36.5 lakh
Jun '24: 37.6 lakh
Sep '24: 35.7 lakh
Dec '24: 37.1 lakh
Mar '25: 36.5 lakh
Jun '25: 36.5 lakh
Sep '25: 36.7 lakh
Dec '25: 36.1 lakh
Mar '26: 40.4 lakh
Jun '26: 41.5 lakh
 33.4L36.1L38.8L41.5L Dec '23Dec '24Dec '25Jun '26
Dec '23: 33.4 lakh
Mar '24: 36.5 lakh
Jun '24: 37.6 lakh
Sep '24: 35.7 lakh
Dec '24: 37.1 lakh
Mar '25: 36.5 lakh
Jun '25: 36.5 lakh
Sep '25: 36.7 lakh
Dec '25: 36.1 lakh
Mar '26: 40.4 lakh
Jun '26: 41.5 lakh

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

−5.5%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 ITC 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 −20% to +14% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (−0.5%, 80% range −7.8% to +1.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
PGHH · Oct 2025: −45.8% vs market
CELLO · Jul 2025: −45.2% vs market
PIIND · Oct 2025: −38.0% vs market
IRCTC · Jul 2025: −36.0% vs market
SANOFI · Oct 2025: −29.2% vs market
HEROMOTOCO · Apr 2021: −28.5% vs market
TCS · Aug 2025: −27.8% vs market
SUNTV · Feb 2021: −24.4% vs market
DABUR · Nov 2023: −24.2% vs market
WIPRO · May 2022: −22.7% vs market
TECHM · Feb 2023: −22.2% vs market
LTTS · Aug 2025: −20.7% vs market
DIVISLAB · Jan 2023: −20.4% vs market
CASTROLIND · Sep 2021: −19.9% vs market
AIAENG · Oct 2024: −17.1% vs market
DRREDDY · Oct 2023: −14.8% vs market
IGL · Oct 2021: −12.9% vs market
INFY · Sep 2022: −12.5% vs market
ATUL · Dec 2021: −11.9% vs market
HCLTECH · Sep 2025: −11.7% vs market
EMAMILTD · Jul 2022: −10.3% vs market
HAL · Jun 2025: −10.2% vs market
BOSCHLTD · Feb 2020: −10.0% vs market
DEEPAKNTR · Jan 2024: −6.7% vs market
GLAXO · Oct 2022: −5.9% vs market
HINDZINC · Oct 2022: −5.1% vs market
FINEORG · Aug 2024: −4.7% vs market
HINDUNILVR · Dec 2024: −3.9% vs market
EICHERMOT · May 2021: −3.8% vs market
PIDILITIND · Dec 2024: −3.3% vs market
CIPLA · Jun 2025: −2.9% vs market
PGHL · Dec 2022: −1.4% vs market
ERIS · May 2023: −0.6% vs market
TATATECH · Jul 2025: +1.0% vs market
BAJAJ-AUTO · Aug 2021: +2.3% vs market
IPCALAB · Dec 2022: +4.0% vs market
ABBOTINDIA · Dec 2023: +10.7% vs market
3MINDIA · Jun 2025: +15.2% vs market
SUNPHARMA · Aug 2025: +15.6% vs market
ASIANPAINT · May 2025: +15.7% vs market
SCHAEFFLER · Mar 2024: +15.9% vs market
CRISIL · May 2024: +21.7% vs market
SUMICHEM · Apr 2024: +24.8% vs market
CUMMINSIND · Oct 2020: +29.2% vs market
MARICO · Apr 2024: +35.0% vs market
AJANTPHARM · Nov 2022: +40.7% vs market
BEL · Oct 2023: +53.5% vs market
OFSS · Jan 2023: +60.9% vs market
COHANCE · Feb 2024: +101.2% vs market
SUPREMEIND · Aug 2022: +107.2% vs market
Similar setups −5.5%All companies −5.0%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
−5.5%
All companies' median
−5.0%
Beat the market
34% vs 44%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INFY
Technology Services		 Sep 2022 26x37% −16%−27% −13%
TCS
Technology Services		 Aug 2025 23x65% −32%−32% −28%
BAJAJ-AUTO
Consumer Durables		 Aug 2021 22x25% +26%−13% +2%
GLAXO
Health Technology		 Oct 2022 13x37% −8%−27% −6%
OFSS
Technology Services		 Jan 2023 12x36% −14%−20% +61%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HCLTECH
Technology Services		 Sep 2025 22x32% −23%−31% −12%
HEROMOTOCO
Consumer Durables		 Apr 2021 15x27% +32%−22% −29%
ASIANPAINT
Process Industries		 May 2025 51x38% −22%−33% +16%
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: P/S, 12-month momentum and drawdown from 12-month high. 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 ITC 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.

TATA CONSULTANCY SERVICESTCS
Technology Services
78%similar
market capP/E
COAL INDIACOALINDIA
Energy Minerals
73%similar
market caprevenue
INFOSYSINFY
Technology Services
72%similar
ROCEmarket cap
HCL TECHNOLOGIESHCLTECH
Technology Services
69%similar
market caprevenue
PETRONET LNGPETRONET
Utilities
64%similar
operating marginrevenue
HINDUSTAN UNILEVERHINDUNILVR
Consumer Non-Durables
66%similar
revenuevolatility
EMAMIEMAMILTD
Consumer Non-Durables
62%similar
volatilitydebt/equity
PROCTER AND GAMBLE HYGIENE HEAPGHH
Consumer Non-Durables
59%similar
revenue growthvolatility

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

What changed?

27 events since Sep '19

  1. OctPriceFell 42% from the Feb 2025 peak to the Oct 2026 low.
  2. JunResultsYear-on-year EPS growth turned negative.
  3. JunPeer rankSlipped to the bottom quartile of Consumer Non-Durables on EPS growth (from the top quartile).
  4. MarResultsRevenue (TTM) reached a new high of ₹79,809 cr.
  5. JanValuationP/E fell below the 10th percentile of its own history to date (11.0x).
  6. JanPriceVolume reached 34.0x its 50-day median on 2026-01-01; price -9.7% that day.
  7. NovPriceVolume reached 5.1x its 50-day median on 2025-11-14; price +0.6% that day.
  8. JunPeer rankMoved into the top quartile of Consumer Non-Durables on EPS growth (from the 2nd quartile).
Show 19 earlier events
  1. MayPriceVolume reached 31.1x its 50-day median on 2025-05-28; price -3.2% that day.
  2. JanValuationP/E crossed above the 90th percentile of its own history to date (25.9x).
  3. DecResultsRevenue (TTM) reached a new high of ₹72,001 cr.
  4. JulValuationP/E crossed above the 90th percentile of its own history to date (24.9x).
  5. MarPriceVolume reached 8.3x its 50-day median on 2024-03-13; price +4.5% that day.
  6. JunResultsRevenue (TTM) reached a new high of ₹70,919 cr.
  7. FebValuationP/E crossed above the 90th percentile of its own history to date (25.1x).
  8. FebPriceVolume reached 7.9x its 50-day median on 2023-02-01; price +2.6% that day.
  9. AugPriceRegained the 2019-04 peak, 29 months after the low.
  10. JunResultsYear-on-year EPS growth turned positive.
  11. JunPeer rankMoved into the 2nd quartile of Consumer Non-Durables on EPS growth (from the 3rd quartile).
  12. SepPriceVolume reached 9.1x its 50-day median on 2021-09-16; price +6.9% that day.
  13. JunResultsYear-on-year EPS growth turned negative.
  14. JunPeer rankSlipped to the 3rd quartile of Consumer Non-Durables on EPS growth (from the top quartile).
  15. JunResultsRevenue (TTM) reached a new high of ₹49,388 cr.
  16. JunPeer rankMoved into the top quartile of Consumer Non-Durables on EPS growth (from the 2nd quartile).
  17. MarPriceFell 52% from the Apr 2019 peak to the Mar 2020 low.
  18. FebPriceVolume reached 8.1x its 50-day median on 2020-02-03; price -5.2% that day.
  19. SepPriceVolume reached 6.5x its 50-day median on 2019-09-20; price +0.6% that day.

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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1117.6x₹76488 cr27.3%39.0%0.0x
2026-1016.8x₹76488 cr27.8%39.0%0.0x
2026-0916.6x₹76488 cr27.8%39.0%0.0x
2026-0815.5x₹78869 cr29.0%39.0%0.0x
2026-0717.0x₹78869 cr29.0%39.0%0.0x
2026-0617.4x₹78869 cr29.0%39.0%0.0x
2026-0510.3x₹79809 cr50.5%37.0%0.0x
2026-0411.0x₹79809 cr50.5%37.0%0.0x
2026-0310.0x₹79809 cr50.5%37.0%0.0x
2026-0210.9x₹78552 cr50.5%37.0%0.0x
2026-0111.0x₹78552 cr50.5%37.0%0.0x
2025-1213.7x₹78552 cr50.5%37.0%0.0x
2025-1113.8x₹79040 cr50.3%37.0%0.0x
2025-1014.4x₹79040 cr50.3%37.0%0.0x
2025-0913.7x₹79040 cr50.3%37.0%0.0x
2025-0814.1x₹75323 cr50.1%37.0%0.0x
2025-0714.1x₹75323 cr50.1%37.0%0.0x
2025-0614.3x₹75323 cr50.1%37.0%0.0x
2025-0524.7x₹73596 cr27.4%36.0%0.0x
2025-0425.2x₹73596 cr27.4%36.0%0.0x
2025-0324.3x₹73596 cr27.4%36.0%0.0x
2025-0222.9x₹72001 cr28.0%36.0%0.0x
2025-0125.9x₹72001 cr28.0%36.0%0.0x
2024-1224.2x₹72001 cr28.0%36.0%0.0x
2024-1124.0x₹69785 cr27.8%36.0%0.0x
2024-1024.6x₹69785 cr27.8%36.0%0.0x
2024-0926.1x₹69785 cr27.8%36.0%0.0x
2024-0825.2x₹69171 cr27.9%36.0%0.0x
2024-0724.9x₹69171 cr27.9%36.0%0.0x
2024-0621.4x₹69171 cr27.9%36.0%0.0x
2024-0522.8x₹70919 cr28.2%39.0%0.0x
2024-0423.3x₹70919 cr28.2%39.0%0.0x
2024-0322.9x₹70919 cr28.2%39.0%0.0x
2024-0221.7x₹70919 cr28.2%39.0%0.0x
2024-0123.6x₹70919 cr28.2%39.0%0.0x
2023-1224.7x₹70919 cr28.2%39.0%0.0x
2023-1123.3x₹70919 cr28.2%39.0%0.0x
2023-1022.9x₹70919 cr28.2%39.0%0.0x
2023-0923.7x₹70919 cr28.2%39.0%0.0x
2023-0823.5x₹70919 cr28.2%39.0%0.0x
2023-0724.9x₹70919 cr28.2%39.0%0.0x
2023-0624.1x₹70919 cr28.2%39.0%0.0x
2023-0529.7x₹60645 cr24.8%33.0%0.0x
2023-0428.4x₹60645 cr24.8%33.0%0.0x
2023-0325.6x₹60645 cr24.8%33.0%0.0x
2023-0225.1x₹60645 cr24.8%33.0%0.0x
2023-0123.5x₹60645 cr24.8%33.0%0.0x
2022-1222.1x₹60645 cr24.8%33.0%0.0x
2022-1122.7x₹60645 cr24.8%33.0%0.0x
2022-1023.2x₹60645 cr24.8%33.0%0.0x
2022-0922.1x₹60645 cr24.8%33.0%0.0x
2022-0821.4x₹60645 cr24.8%33.0%0.0x
2022-0720.2x₹60645 cr24.8%33.0%0.0x
2022-0618.2x₹60645 cr24.8%33.0%0.0x
2022-0520.9x₹49257 cr22.2%28.0%0.0x
2022-0420.0x₹49257 cr22.2%28.0%0.0x
2022-0319.3x₹49257 cr22.2%28.0%0.0x
2022-0216.7x₹49257 cr22.2%28.0%0.0x
2022-0117.0x₹49257 cr22.2%28.0%0.0x
2021-1216.8x₹49257 cr22.2%28.0%0.0x
2021-1117.1x₹49257 cr22.2%28.0%0.0x
2021-1017.2x₹49257 cr22.2%28.0%0.0x
2021-0918.2x₹49257 cr22.2%28.0%0.0x
2021-0816.3x₹49257 cr22.2%28.0%0.0x
2021-0715.8x₹49257 cr22.2%28.0%0.0x
2021-0615.6x₹49257 cr22.2%28.0%0.0x
2021-0514.3x₹49388 cr23.9%32.0%0.0x
2021-0413.4x₹49388 cr23.9%32.0%0.0x
2021-0314.5x₹49388 cr23.9%32.0%0.0x
2021-0213.5x₹49388 cr23.9%32.0%0.0x
2021-0113.5x₹49388 cr23.9%32.0%0.0x
2020-1213.8x₹49388 cr23.9%32.0%0.0x
2020-1112.8x₹49388 cr23.9%32.0%0.0x
2020-1010.9x₹49388 cr23.9%32.0%0.0x
2020-0911.4x₹49388 cr23.9%32.0%0.0x
2020-0812.7x₹49388 cr23.9%32.0%0.0x
2020-0712.9x₹49388 cr23.9%32.0%0.0x
2020-0612.9x₹49388 cr23.9%32.0%0.0x
2020-0515.8x₹48340 cr21.7%34.0%0.0x
2020-0414.6x₹48340 cr21.7%34.0%0.0x
2020-0313.8x₹48340 cr21.7%34.0%0.0x
2020-0215.9x₹48340 cr21.7%34.0%0.0x
2020-0118.9x₹48340 cr21.7%34.0%0.0x
2019-1219.1x₹48340 cr21.7%34.0%0.0x
2019-1119.8x₹48340 cr21.7%34.0%0.0x
2019-1020.7x₹48340 cr21.7%34.0%0.0x
2019-0920.9x₹48340 cr21.7%34.0%0.0x
2019-0819.7x₹48340 cr21.7%34.0%0.0x
2019-0721.7x₹48340 cr21.7%34.0%0.0x
2019-0622.0x₹48340 cr21.7%34.0%0.0x
2019-0524.9x₹43449 cr21.9%34.0%0.0x
2019-0426.9x₹43449 cr21.9%34.0%0.0x
2019-0326.5x₹43449 cr21.9%34.0%0.0x
2019-0224.6x₹43449 cr21.9%34.0%0.0x
2019-0124.9x₹43449 cr21.9%34.0%0.0x

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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