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JINDAL PHOTO LIMITED (JINDALPHOT)

Finance · Financial Conglomerates · 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.78 / 100
Profitability 55Growth 80Balance 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.54 / 100
Price 75Earnings 34FII/DII 52
Compare withJIO FINANCIAL SERVICESBAJAJ HOLDINGS & INVESTMENT LIMAHARASHTRA SCOOTERS

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,107.2 latest close · −5.6% over the last 90 sessions

₹1,000₹1,100₹1,200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,000₹1,100₹1,200Jul 3Sep 4Nov 9

₹1,107.2 month-end · −24.5% over 12 months

₹1,000₹1,200₹1,400Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,000₹1,200₹1,400Nov '25May '26Nov '26

₹1,107.2 month-end · +65.5% over 3 years

₹500₹1,000₹1,500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹500₹1,000₹1,500Nov '23May '25Nov '26

₹1,107.2 month-end · +3993.2% since Jan '19

₹0₹500₹1,000₹1,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹500₹1,000₹1,500Jan '19Dec '22Nov '26

52-week range ₹936.00 to ₹1616.60 · 1-year volatility 43.8%

How rough has the ride been?

Maximum drawdown-78.0%recovered 2021-02
1-year volatility43.8%annualised
Beta vs sector index0.853-year daily, correlation 0.30
Volume spikes10last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−77.5% 0%−25%−50%−75%2020202220242026−77.5%
Largest drawdowns

-78.0% (2019-06 peak to 2020-03 low, recovered 2021-02)

-61.5% (2021-11 peak to 2022-05 low, recovered 2023-09)

-53.5% (2019-01 peak to 2019-06 low, recovered 2019-06)

Most recent volume spikes

2026-11-05: 6.8x the 50-day median, price -0.4% that day

2026-11-03: 6.3x the 50-day median, price -0.4% that day

2026-10-30: 7.5x the 50-day median, price +0.7% 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).

Where does it rank among Finance peers?

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

  • ROCE11th▼ 53 pts vs a year ago
  • Op. margin99th▲ 11 pts vs a year ago
  • Revenue growth98th▲ 97 pts vs a year ago
  • EPS growth3rd▼ 28 pts vs a year ago
  • Debt/equity ↓60thflat vs a year ago
  • Cash cycle ↓89thflat vs a year ago
  • P/E ↓9th▼ 89 pts vs a year ago
  • 12M momentum33rd▼ 64 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.

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

What prices imply across Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1107.20
ROCE
-1.0%
Market Cap
₹1135 cr
Revenue (TTM)
₹20 cr
P/S
56.8x
P/B
1.1x
ROE
-6.1%
Operating Margin
98.0%
Debt / Equity
0.1x
Promoter Holding
74.2%
12M Momentum
-24.5%

52-week range

₹936.00₹1616.60
25% of the way from its 52-week low to its high

Price risk

1Y volatility
43.8%
Beta vs sector
1-year daily
0.66

Balance sheet & cash

Interest cover
operating profit ÷ interest
-10.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.01x
low
Share count, 1Y
unchanged

Are profits backed by cash?

2 of 4checks within range2 beyond a threshold
Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion0.01xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.01x (cash from operations ₹7 cr, net profit ₹469 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 history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (0 vs 0). Bands: under 15 days, 15 to 45, over 45.

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 →

Who has been buying and selling?

  • Over 2 years, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders fell from 17,471 to 16,491 (-6%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters74.2%74.2%0.0 pts
FIIs0.0%0.0%0.0 pts
DIIs0.0%0.0%0.0 pts
Public and others25.8%25.8%0.0 pts

Number of shareholders

16,491shareholders-6% since Dec '23
16k18k19k21k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 17,471
Mar '24: 17,440
Jun '24: 17,476
Sep '24: 18,341
Dec '24: 20,363
Mar '25: 20,783
Jun '25: 17,619
Sep '25: 16,770
Dec '25: 16,664
Mar '26: 16,506
Jun '26: 16,491
 16k18k19k21k Dec '23Dec '24Dec '25Jun '26
Dec '23: 17,471
Mar '24: 17,440
Jun '24: 17,476
Sep '24: 18,341
Dec '24: 20,363
Mar '25: 20,783
Jun '25: 17,619
Sep '25: 16,770
Dec '25: 16,664
Mar '26: 16,506
Jun '26: 16,491

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

Not enough comparable history to show analogs for this company yet.

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.

IMAGICAAWORLD ENTERTAINMENIMAGICAA
Consumer Services
56%similar
promoter holdingvolatility
DHUNSERI VENTURESDVL
Consumer Non-Durables
49%similar
market capoperating margin
ALEMBICALEMBICLTD
Health Technology
47%similar
revenuerevenue growth
PAUSHAK LIMITED (FORMERLY KNOWPAUSHAKLTD
Process Industries
45%similar
revenuemarket cap
UNIPHOS ENTERPRISESUNIENTER
Producer Manufacturing
45%similar
revenuepromoter holding
BF INVESTMENTBFINVEST
Finance
61%similar
revenue growthpromoter holding
GEECEE VENTURESGEECEE
Finance
55%similar
revenue growthrevenue
VARDHMAN HOLDINGSVHL
Finance
51%similar
revenueoperating margin

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

What changed?

30 events since Sep '23

  1. OctPriceVolume reached 10.8x its 50-day median on 2026-10-27; price +1.1% that day.
  2. SepPeer rankMoved into the top quartile of Finance on operating margin (from the bottom quartile).
  3. SepPriceVolume reached 39.1x its 50-day median on 2026-09-15; price +8.8% that day.
  4. JunResultsEPS (TTM) turned negative.
  5. JunPeer rankSlipped to the bottom quartile of Finance on ROCE (from the 2nd quartile).
  6. JunPriceVolume reached 66.7x its 50-day median on 2026-06-30; price +9.3% that day.
  7. MarPriceFell 37% from the Oct 2025 peak to the Mar 2026 low.
  8. MarPeer rankSlipped to the bottom quartile of Finance on operating margin (from the top quartile).
Show 22 earlier events
  1. JanPriceVolume reached 92.7x its 50-day median on 2026-01-08; price +18.0% that day.
  2. DecPeer rankSlipped to the bottom quartile of Finance on EPS growth (from the 3rd quartile).
  3. OctPriceVolume reached 111.7x its 50-day median on 2025-10-10; price +12.2% that day.
  4. SepPriceVolume reached 158.2x its 50-day median on 2025-09-02; price -8.3% that day.
  5. JunResultsYear-on-year EPS growth turned negative.
  6. JunValuationP/E crossed above the 90th percentile of its own history to date (4.3x).
  7. JunPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
  8. MayPriceRegained the 2024-12 peak, 2 months after the low.
  9. AprPriceVolume reached 9.6x its 50-day median on 2025-04-17; price +6.1% that day.
  10. MarPriceFell 45% from the Dec 2024 peak to the Mar 2025 low.
  11. MarPeer rankSlipped to the 2nd quartile of Finance on EPS growth (from the top quartile).
  12. MarPriceVolume reached 9.1x its 50-day median on 2025-03-06; price +11.3% that day.
  13. DecPeer rankMoved into the top quartile of Finance on EPS growth (from the 2nd quartile).
  14. NovPriceVolume reached 44.4x its 50-day median on 2024-11-21; price +0.5% that day.
  15. JulPriceVolume reached 15.7x its 50-day median on 2024-07-30; price +7.8% that day.
  16. JunResultsRevenue (TTM) reached a new high of ₹19 cr.
  17. JunPriceRegained the 2023-10 peak, 3 months after the low.
  18. JunPriceVolume reached 62.9x its 50-day median on 2024-06-27; price +1.7% that day.
  19. MarPriceFell 31% from the Oct 2023 peak to the Mar 2024 low.
  20. FebPriceVolume reached 20.7x its 50-day median on 2024-02-20; price +3.6% that day.
  21. OctPriceVolume reached 38.6x its 50-day median on 2023-10-10; price +18.8% that day.
  22. SepPriceRegained the 2021-11 peak, 16 months after the 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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹20 cr-6.1%-1.0%0.1x
2026-10—₹20 cr-6.2%-1.0%0.1x
2026-09—₹20 cr-6.2%-1.0%0.1x
2026-08—₹13 cr-2.4%-1.0%0.1x
2026-07—₹13 cr-2.4%-1.0%0.1x
2026-06—₹13 cr-2.4%-1.0%0.1x
2026-0585.2x₹14 cr1.1%14.0%0.1x
2026-0494.5x₹14 cr1.1%14.0%0.1x
2026-0383.5x₹14 cr1.1%14.0%0.1x
2026-028.5x₹13 cr15.8%14.0%0.1x
2026-019.4x₹13 cr15.8%14.0%0.1x
2025-1210.1x₹13 cr15.8%14.0%0.1x
2025-116.5x₹3 cr23.9%14.0%0.1x
2025-105.9x₹3 cr23.9%14.0%0.1x
2025-094.9x₹3 cr23.9%14.0%0.1x
2025-084.7x₹3 cr23.3%14.0%0.1x
2025-073.9x₹3 cr23.3%14.0%0.1x
2025-064.3x₹3 cr23.3%14.0%0.1x
2025-053.0x₹21 cr13.0%12.0%0.0x
2025-043.0x₹21 cr13.0%12.0%0.0x
2025-032.3x₹21 cr13.0%12.0%0.0x
2025-021.6x₹21 cr15.8%12.0%0.0x
2025-012.0x₹21 cr15.8%12.0%0.0x
2024-122.6x₹21 cr15.8%12.0%0.0x
2024-113.1x₹20 cr12.3%12.0%0.0x
2024-102.6x₹20 cr12.3%12.0%0.0x
2024-092.9x₹20 cr12.3%12.0%0.0x
2024-083.3x₹19 cr11.8%12.0%0.0x
2024-073.5x₹19 cr11.8%12.0%0.0x
2024-063.5x₹19 cr11.8%12.0%0.0x
2024-054.2x₹8 cr8.4%9.0%0.0x
2024-043.8x₹8 cr8.4%9.0%0.0x
2024-033.4x₹8 cr8.4%9.0%0.0x
2024-024.0x₹8 cr8.4%9.0%0.0x
2024-013.7x₹8 cr8.4%9.0%0.0x
2023-123.7x₹8 cr8.4%9.0%0.0x
2023-114.1x₹8 cr8.4%9.0%0.0x
2023-104.4x₹8 cr8.4%9.0%0.0x
2023-093.3x₹8 cr8.4%9.0%0.0x
2023-082.2x₹8 cr8.4%9.0%0.0x
2023-072.1x₹8 cr8.4%9.0%0.0x
2023-062.2x₹8 cr8.4%9.0%0.0x
2023-05—₹0 cr34.8%65.0%0.0x
2023-04—₹0 cr34.8%65.0%0.0x
2023-03—₹0 cr34.8%65.0%0.0x
2023-02—₹0 cr34.8%65.0%0.0x
2023-01—₹0 cr34.8%65.0%0.0x
2022-12—₹0 cr34.8%65.0%0.0x
2022-11—₹0 cr34.8%65.0%0.0x
2022-10—₹0 cr34.8%65.0%0.0x
2022-09—₹0 cr34.8%65.0%0.0x
2022-08—₹0 cr34.8%65.0%0.0x
2022-07—₹0 cr34.8%65.0%0.0x
2022-06—₹0 cr34.8%65.0%0.0x
2022-05—₹0 cr-17.8%0.0%2.3x
2022-04—₹0 cr-17.8%0.0%2.3x
2022-03—₹0 cr-17.8%0.0%2.3x
2022-02—₹0 cr-17.8%0.0%2.3x
2022-01—₹0 cr-17.8%0.0%2.3x
2021-12—₹0 cr-17.8%0.0%2.3x
2021-11—₹0 cr-17.8%0.0%2.3x
2021-10—₹0 cr-17.8%0.0%2.3x
2021-09—₹0 cr-17.8%0.0%2.3x
2021-08—₹0 cr-17.8%0.0%2.3x
2021-07—₹0 cr-17.8%0.0%2.3x
2021-06—₹0 cr-17.8%0.0%2.3x
2021-05—₹0 cr-14.1%0.0%2.2x
2021-04—₹0 cr-14.1%0.0%2.2x
2021-03—₹0 cr-14.1%0.0%2.2x
2021-02—₹0 cr-14.1%0.0%2.2x
2021-01—₹0 cr-14.1%0.0%2.2x
2020-12—₹0 cr-14.1%0.0%2.2x
2020-11—₹0 cr-14.1%0.0%2.2x
2020-10—₹0 cr-14.1%0.0%2.2x
2020-09—₹0 cr-14.1%0.0%2.2x
2020-08—₹0 cr-14.1%0.0%2.2x
2020-07—₹0 cr-14.1%0.0%2.2x
2020-06—₹0 cr-14.1%0.0%2.2x
2020-05—₹1 cr-10.0%0.0%1.7x
2020-04—₹1 cr-10.0%0.0%1.7x
2020-03—₹1 cr-10.0%0.0%1.7x
2020-02—₹1 cr-10.0%0.0%1.7x
2020-01—₹1 cr-10.0%0.0%1.7x
2019-12—₹1 cr-10.0%0.0%1.7x
2019-11—₹1 cr-10.0%0.0%1.7x
2019-10—₹1 cr-10.0%0.0%1.7x
2019-09—₹1 cr-10.0%0.0%1.7x
2019-08—₹1 cr-10.0%0.0%1.7x
2019-07—₹1 cr-10.0%0.0%1.7x
2019-06—₹1 cr-10.0%0.0%1.7x
2019-05—₹0 cr-15.9%0.0%4.4x
2019-04—₹0 cr-15.9%0.0%4.4x
2019-03—₹0 cr-15.9%0.0%4.4x
2019-02—₹0 cr-15.9%0.0%4.4x
2019-01—₹0 cr-15.9%0.0%4.4x

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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