JAI BALAJI INDUSTRIES LIMITED (JAIBALAJI): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹66.19 latest close · −6.0% over the last 90 sessions

₹66.19 month-end · −3.7% over 12 months

₹66.19 month-end · −44.1% over 3 years

₹66.19 month-end · +1846.8% since Jan '19

52-week range ₹53.65 to ₹95.50 · 1-year volatility 53.3%

Was the rally earned?

1 year3 years

-4%share price, 1 yearRoughly flat

The share price was roughly flat over 1 year (-4%).
The share count barely moved.

Net profit growth-35 ptsNet profit fell about 30%, which lowers the price.

P/E change+32 ptsThe P/E rose from 14.9x to 20.6x, which lifts the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-44%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 13 points, but investors now pay less per rupee of profit (P/E 43.5x to 20.6x), which took 57 points back.
The share count rose 21%.

Net profit growth+27 ptsNet profit rose about 42%, which lifts the price.

P/E change-57 ptsThe P/E fell from 43.5x to 20.6x, which lowers the price.

Share count change-14 ptsShare count rose 21%, 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 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 JSW STEEL

How rough has the ride been?

Maximum drawdown-78.9%not yet recovered

1-year volatility53.3%annualised

Beta vs sector index0.993-year daily, correlation 0.41

Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-78.9% (2024-02 peak to 2026-03 low, not yet recovered)

-60.9% (2019-04 peak to 2020-11 low, recovered 2021-03)

-44.4% (2021-08 peak to 2022-07 low, recovered 2023-05)

Most recent volume spikes

2026-10-15: 9.1x the 50-day median, price +8.0% that day

2026-09-07: 7x the 50-day median, price 0.0% that day

2026-08-31: 12.5x the 50-day median, price +4.2% 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?

20.6xP/E todayWithin its usual range

Against its own history65th percentile

CheapestMedian 19.0xDearest

Usual range 10.8x to 37.4x since 2019-01.

Against Non-Energy Minerals20.6x vs 21.8x

This company

20.6x

Sector median

21.8x

5% below the Non-Energy Minerals median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

ROCE96th▼ 3 pts vs a year ago
Op. margin25th▼ 13 pts vs a year ago
Revenue growth18th▲ 5 pts vs a year ago
EPS growth18th▲ 5 pts vs a year ago
Debt/equity ↓63rd▲ 7 pts vs a year ago
Cash cycle ↓57th▼ 25 pts vs a year ago
P/E ↓56th▼ 21 pts vs a year ago
12M momentum60th▲ 57 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~12%annual earnings growth implied by the price

At a P/E of 15.6x, the price would imply about 12.4%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Earnings figures have not updated recently, so the company is left out of the lists.

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

What prices imply across Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹66.19
P/E: 20.6x
Market Cap: ₹6041 cr
Revenue (TTM): ₹5786 cr
P/S: 1.0x
P/B: 2.7x
ROE: 13.2%
Operating Margin: 5.0%
Debt / Equity: 0.2x
Promoter Holding: 64.8%
12M Momentum: -3.7%

52-week range

₹53.65₹95.50

30% of the way from its 52-week low to its high

Price risk

1Y volatility

53.3%

Beta vs sector

1-year daily

1.18

Balance sheet & cash

Interest cover

operating profit ÷ interest

7.3x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.98x

Share count, 1Y

unchanged

Are profits backed by cash?

4 of 5checks within range1 near a threshold

Other income reliance16%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 16.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 29.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.98xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.98x (cash from operations ₹1,471 cr, net profit ₹1,496 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. 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 progress12% of fixed assetsWithin range

Capital work-in-progress is 12% 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 3 years, promoters added 4.8 pts; FIIs added 2.1 pts.
The number of shareholders rose from 16,800 to 47,451 (+182%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters60.0%64.8%+4.8 pts

FIIs0.7%2.8%+2.1 pts

DIIs0.0%0.1%+0.1 pts

Public and others39.3%32.3%-7.0 pts

Number of shareholders

47,451shareholders+182% since Sep '23

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

+6.9%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 JAI BALAJI INDUSTRIES LIMITED today on valuation, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −19% to +58% vs the market, against +3% for all non-financial companies in the same months.
The gap against the base rate (+4.0%, 80% range −2.5% to +9.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

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 · 5 beyond the range shown, drawn at the edge

Similar setups' median

+6.9%

All companies' median

+2.9%

Beat the market

64% vs 53%

50 past situations · 50 companies · 37 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
HFCL Electronic Technology	Apr 2021	16x	21%	+156%	−16%	+116%
SUNFLAG Non-Energy Minerals	May 2021	16x	9%	+182%	−8%	+6%
ACE Producer Manufacturing	Aug 2020	13x	16%	+7%	−31%	+142%
CAPACITE Industrial Services	Apr 2021	14x	14%	+118%	−14%	−41%
WELCORP Producer Manufacturing	Apr 2023	13x	13%	+10%	−23%	+70%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
AGI Process Industries	Aug 2025	18x	—	−6%	−31%	−19%
ISGEC Industrial Services	Aug 2024	42x	13%	+98%	−12%	−23%
SUBROS Producer Manufacturing	Jul 2020	14x	13%	−6%	−38%	+16%

How reliable is this?

Matched on P/E, P/S, 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 debt/equity. Not used (unavailable for this company): ROCE. 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 JAI BALAJI INDUSTRIES 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

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.

VIKRAM SOLARVIKRAMSOLR

Process Industries

64%similar

debt/equityrevenue

CHENNAI PETROLEUM CORPORATIONCHENNPETRO

Energy Minerals

60%similar

EPS growthoperating margin

RASHI PERIPHERALSRPTECH

Distribution Services

57%similar

promoter holdingoperating margin

DALMIA BHARAT SUGAR AND INDUSTDALMIASUG

Process Industries

55%similar

operating marginP/E

TRIVENI ENGINEERING N INDUSTRITRIVENI

Process Industries

54%similar

revenuemarket cap

JINDAL SAWJINDALSAW

Non-Energy Minerals

68%similar

promoter holdingrevenue growth

KIRLOSKAR INDUSTRIESKIRLOSIND

Non-Energy Minerals

52%similar

EPS growthdebt/equity

ELECTROSTEEL CASTINGSELECTCAST

Non-Energy Minerals

49%similar

revenuedebt/equity

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

What changed?

30 events since Sep '23

2026
OctPriceVolume reached 9.1x its 50-day median on 2026-10-15; price +8.0% that day.
SepPeer rankMoved into the 3rd quartile of Non-Energy Minerals on operating margin (from the bottom quartile).
AugPriceVolume reached 12.5x its 50-day median on 2026-08-31; price +4.2% that day.
JunPeer rankSlipped to the bottom quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
MarPriceFell 79% from the Feb 2024 peak to the Mar 2026 low.
MarPeer rankMoved into the 3rd quartile of Non-Energy Minerals on operating margin (from the bottom quartile).
FebPriceVolume reached 28.1x its 50-day median on 2026-02-25; price +12.1% that day.
2025
DecPeer rankSlipped to the bottom quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).

Show 22 earlier events

2025
DecPriceVolume reached 25.5x its 50-day median on 2025-12-15; price +10.6% that day.
SepPriceVolume reached 7.8x its 50-day median on 2025-09-15; price +3.8% that day.
AugSharesShare count is up 11.0% over 12 months.
JunResultsYear-on-year EPS growth turned negative.
JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
JunPriceVolume reached 39.1x its 50-day median on 2025-06-26; price +12.1% that day.
MarPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
FebDebtDebt / equity halved over 12 months to 0.31x.
FebPriceVolume reached 9.8x its 50-day median on 2025-02-13; price +6.4% that day.
2024
DecPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
DecPriceVolume reached 8.1x its 50-day median on 2024-12-05; price +2.1% that day.
SepPromoterPromoter holding rose 3.1 pts to 63.9%.
SepPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
JulDebtDebt / equity halved over 12 months to 0.31x.
JulSharesShare count is up 13.1% over 12 months.
JulPriceVolume reached 6.8x its 50-day median on 2024-07-31; price +0.4% that day.
JunPeer rankMoved into the top quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
JunDebtDebt / equity fell below 1.0x (0.31x).
MarPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
MarPriceVolume reached 7.2x its 50-day median on 2024-03-15; price -4.5% that day.
2023
DecResultsRevenue (TTM) reached a new high of ₹6,291 cr.
SepResultsYear-on-year EPS growth turned positive.

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

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	20.6x	₹5786 cr	13.2%	—	0.2x
2026-10	19.2x	₹5786 cr	13.1%	—	0.2x
2026-09	19.4x	₹5786 cr	13.1%	—	0.2x
2026-08	22.5x	₹5786 cr	13.1%	—	0.2x
2026-07	18.0x	₹5786 cr	13.1%	—	0.2x
2026-06	21.1x	₹5786 cr	13.1%	—	0.2x
2026-05	22.5x	₹5786 cr	13.1%	—	0.2x
2026-04	24.4x	₹5786 cr	13.1%	—	0.2x
2026-03	16.9x	₹5786 cr	13.1%	—	0.2x
2026-02	21.5x	₹5786 cr	13.1%	—	0.2x
2026-01	21.1x	₹5786 cr	13.1%	—	0.2x
2025-12	22.5x	₹5786 cr	13.1%	—	0.2x
2025-11	14.9x	₹5990 cr	19.7%	36.0%	0.3x
2025-10	20.5x	₹5990 cr	19.7%	36.0%	0.3x
2025-09	20.5x	₹5990 cr	19.7%	36.0%	0.3x
2025-08	16.7x	₹6351 cr	26.2%	36.0%	0.3x
2025-07	18.2x	₹6351 cr	26.2%	36.0%	0.3x
2025-06	21.1x	₹6351 cr	26.2%	36.0%	0.3x
2025-05	12.1x	₹6607 cr	50.2%	62.0%	0.3x
2025-04	13.7x	₹6607 cr	50.2%	62.0%	0.3x
2025-03	15.9x	₹6607 cr	50.2%	62.0%	0.3x
2025-02	12.7x	₹6660 cr	57.8%	62.0%	0.3x
2025-01	13.1x	₹6660 cr	57.8%	62.0%	0.3x
2024-12	17.5x	₹6660 cr	57.8%	62.0%	0.3x
2024-11	16.3x	₹6650 cr	61.1%	62.0%	0.3x
2024-10	19.6x	₹6650 cr	61.1%	62.0%	0.3x
2024-09	18.9x	₹6650 cr	61.1%	62.0%	0.3x
2024-08	16.6x	₹6415 cr	58.5%	62.0%	0.3x
2024-07	17.0x	₹6415 cr	58.5%	62.0%	0.3x
2024-06	15.9x	₹6415 cr	58.5%	62.0%	0.3x
2024-05	23.3x	₹6293 cr	106.8%	18.0%	1.5x
2024-04	27.6x	₹6293 cr	106.8%	18.0%	1.5x
2024-03	25.0x	₹6293 cr	106.8%	18.0%	1.5x
2024-02	52.3x	₹6291 cr	69.6%	18.0%	1.5x
2024-01	44.9x	₹6291 cr	69.6%	18.0%	1.5x
2023-12	31.1x	₹6291 cr	69.6%	18.0%	1.5x
2023-11	43.5x	₹6113 cr	37.1%	18.0%	1.5x
2023-10	41.8x	₹6113 cr	37.1%	18.0%	1.5x
2023-09	32.1x	₹6113 cr	37.1%	18.0%	1.5x
2023-08	68.4x	₹6125 cr	10.4%	18.0%	1.5x
2023-07	39.7x	₹6125 cr	10.4%	18.0%	1.5x
2023-06	19.2x	₹6125 cr	10.4%	18.0%	1.5x
2023-05	19.4x	₹4644 cr	—	9.0%	—
2023-04	13.7x	₹4644 cr	—	9.0%	—
2023-03	10.5x	₹4644 cr	—	9.0%	—
2023-02	11.5x	₹4644 cr	—	9.0%	—
2023-01	12.4x	₹4644 cr	—	9.0%	—
2022-12	12.6x	₹4644 cr	—	9.0%	—
2022-11	9.4x	₹4644 cr	—	9.0%	—
2022-10	9.9x	₹4644 cr	—	9.0%	—
2022-09	9.6x	₹4644 cr	—	9.0%	—
2022-08	10.9x	₹4644 cr	—	9.0%	—
2022-07	10.7x	₹4644 cr	—	9.0%	—
2022-06	9.0x	₹4644 cr	—	9.0%	—
2022-05	—	₹2785 cr	—	1.0%	—
2022-04	—	₹2785 cr	—	1.0%	—
2022-03	—	₹2785 cr	—	1.0%	—
2022-02	—	₹2785 cr	—	1.0%	—
2022-01	—	₹2785 cr	—	1.0%	—
2021-12	—	₹2785 cr	—	1.0%	—
2021-11	—	₹2785 cr	—	1.0%	—
2021-10	—	₹2785 cr	—	1.0%	—
2021-09	—	₹2785 cr	—	1.0%	—
2021-08	—	₹2785 cr	—	1.0%	—
2021-07	—	₹2785 cr	—	1.0%	—
2021-06	—	₹2785 cr	—	1.0%	—
2021-05	—	₹2912 cr	—	0.0%	—
2021-04	—	₹2912 cr	—	0.0%	—
2021-03	—	₹2912 cr	—	0.0%	—
2021-02	—	₹2912 cr	—	0.0%	—
2021-01	—	₹2912 cr	—	0.0%	—
2020-12	—	₹2912 cr	—	0.0%	—
2020-11	—	₹2912 cr	—	0.0%	—
2020-10	—	₹2912 cr	—	0.0%	—
2020-09	—	₹2912 cr	—	0.0%	—
2020-08	—	₹2912 cr	—	0.0%	—
2020-07	—	₹2912 cr	—	0.0%	—
2020-06	—	₹2912 cr	—	0.0%	—
2020-05	—	₹3077 cr	—	-2.0%	—
2020-04	—	₹3077 cr	—	-2.0%	—
2020-03	—	₹3077 cr	—	-2.0%	—
2020-02	—	₹3077 cr	—	-2.0%	—
2020-01	—	₹3077 cr	—	-2.0%	—
2019-12	—	₹3077 cr	—	-2.0%	—
2019-11	—	₹3077 cr	—	-2.0%	—
2019-10	—	₹3077 cr	—	-2.0%	—
2019-09	—	₹3077 cr	—	-2.0%	—
2019-08	—	₹3077 cr	—	-2.0%	—
2019-07	—	₹3077 cr	—	-2.0%	—
2019-06	—	₹3077 cr	—	-2.0%	—
2019-05	—	₹2389 cr	—	-8.0%	—
2019-04	—	₹2389 cr	—	-8.0%	—
2019-03	—	₹2389 cr	—	-8.0%	—
2019-02	—	₹2389 cr	—	-8.0%	—
2019-01	—	₹2389 cr	—	-8.0%	—

Methodology and data notes