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JK CEMENT LIMITED (JKCEMENT)

Non-Energy Minerals · Construction Materials · 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.57 / 100
Profitability 72Growth 77Balance sheet 22
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.45 / 100
Price 50Earnings 35FII/DII 51
Compare withULTRATECH CEMENTGRASIM INDUSTRIESAMBUJA CEMENTS

Share price

Closing priceAdjusted for splits and bonus issues.

₹5,052.4 latest close · −8.1% over the last 90 sessions

₹5,000₹5,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹5,000₹5,500Jul 3Sep 4Nov 9

₹5,052.4 month-end · −12.3% over 12 months

₹5,000₹5,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹5,000₹5,500Nov '25May '26Nov '26

₹5,052.4 month-end · +38.7% over 3 years

₹4,000₹5,000₹6,000₹7,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹4,000₹5,000₹6,000₹7,000Nov '23May '25Nov '26

₹5,052.4 month-end · +612.8% since Jan '19

₹2,000₹4,000₹6,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,000₹4,000₹6,000Jan '19Dec '22Nov '26

52-week range ₹4671.50 to ₹6105.00 · 1-year volatility 33.0%

Was the rally earned?

-12%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings took off 5 points and the multiple took off 7 points (P/E 44.5x to 41.3x).
  • The share count barely moved.
Net profit growth: −6 pts. Points of the price return explained by net profit growing (or shrinking).−6 ptsNet profit growthP/E change: −7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−7 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: −12%−12%Share priceNet profit growth: −6 pts. Points of the price return explained by net profit growing (or shrinking).−6ProfitP/E change: −7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−7P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −12%−12%Share price
Net profit growth-6 ptsNet profit fell about 7%, which lowers the price.
P/E change-7 ptsThe P/E fell from 44.5x to 41.3x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+39%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 95 points, but investors now pay less per rupee of profit (P/E 66.5x to 41.3x), which took 56 points back.
  • The share count barely moved.
Net profit growth: +97 pts. Points of the price return explained by net profit growing (or shrinking).+97 ptsNet profit growthP/E change: −56 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−56 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +39%+39%Share priceNet profit growth: +97 pts. Points of the price return explained by net profit growing (or shrinking).+97ProfitP/E change: −56 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−56P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +39%+39%Share price
Net profit growth+97 ptsNet profit rose about 127%, which lifts the price.
P/E change-56 ptsThe P/E fell from 66.5x to 41.3x, which lowers the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+56%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 36 points and the multiple added 20 points (P/E 35.2x to 41.3x).
  • The share count barely moved.
Net profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37 ptsNet profit growthP/E change: +20 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+20 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: +56%+56%Share priceNet profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37ProfitP/E change: +20 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+20P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +56%+56%Share price
Net profit growth+37 ptsNet profit rose about 34%, which lifts the price.
P/E change+20 ptsThe P/E rose from 35.2x to 41.3x, which lifts the price.
Share count change-1 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 ULTRATECH CEMENT

How rough has the ride been?

Maximum drawdown-46.6%recovered 2023-12
1-year volatility33.0%annualised
Beta vs sector index0.633-year daily, correlation 0.44
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−46.1% 0%−20%−40%2020202220242026−46.1%
Largest drawdowns

-46.6% (2021-11 peak to 2022-06 low, recovered 2023-12)

-40.4% (2020-02 peak to 2020-03 low, recovered 2020-07)

-37.6% (2025-08 peak to 2026-06 low, not yet recovered)

Most recent volume spikes

2026-11-05: 5.2x the 50-day median, price +3.4% that day

2026-10-01: 9.4x the 50-day median, price -2.4% that day

2026-07-21: 5.2x the 50-day median, price +3.8% 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?

41.3xP/E todayWithin its usual range
Against its own history61st percentile
CheapestMedian 38.3xDearest

Usual range 25.5x to 60.0x since 2019-01.

Against Non-Energy Minerals41.3x vs 21.8x
This company
41.3x
Sector median
21.8x

90% above the Non-Energy Minerals median.

8.6x33.2x57.8x82.4xJan '19Aug '20Mar '22Oct '23May '25Nov '268.6x33.2x57.8x82.4xJan '19Sep '21May '24Nov '26
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

  • ROCE71st▲ 9 pts vs a year ago
  • Op. margin74th▼ 8 pts vs a year ago
  • Revenue growth65thflat vs a year ago
  • EPS growth31st▼ 43 pts vs a year ago
  • Debt/equity ↓19thflat vs a year ago
  • Cash cycle ↓59th▼ 18 pts vs a year ago
  • P/E ↓24thflat vs a year ago
  • 12M momentum50th▼ 43 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?

~26%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 51.8x, a holder earning 12%/yr needs earnings to grow about 25.9%/yr for 10 years, then trade at 15x.

Delivered19.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+6.5 ptsimplied minus delivered
Rank397thmost demanding of 856

Over time

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

0%19%38% Jan 2019Nov 2026 0%19%38% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x27.5%28.6%29.8%
15x24.8%25.9%27.0%
20x21.4%22.5%23.6%

Drag a slider to test other assumptions

Implied: 25.9%/yr

Looking back

  • Jan 2020Price implied 27%/yr; EPS has since grown 21%/yr (7.0 yrs)
  • Jan 2021Price implied 28%/yr; EPS has since grown 13%/yr (6.0 yrs)
  • Jan 2022Price implied 29%/yr; EPS has since grown 7%/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 Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹5052.40
P/E
41.3x
ROCE
15.0%
Market Cap
₹39035 cr
Revenue (TTM)
₹14402 cr
P/S
2.7x
P/B
5.5x
ROE
13.4%
Operating Margin
16.0%
Debt / Equity
0.9x
Promoter Holding
45.7%
12M Momentum
-12.3%

52-week range

₹4671.50₹6105.00
27% of the way from its 52-week low to its high

Price risk

1Y volatility
33.0%
Beta vs sector
1-year daily
0.67

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.18x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance9%Within range

Other income as a share of pre-tax profit (trailing twelve months): 9.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate32%Within range

Median quarterly effective tax rate over about 2.5 years: 32.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.18xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.18x (cash from operations ₹5,771 cr, net profit ₹2,650 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+2 daysWithin range

Debtor days are above the median of the previous three fiscal years by 2 days (20 vs 18). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress9% of fixed assetsWithin range

Capital work-in-progress is 9% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+23 days / 2 yrsWithin range

Days payable changed by +23 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, FIIs added 2.5 pts; DIIs trimmed 0.5 pts.
  • The number of shareholders rose from 72,582 to 80,353 (+11%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters45.8%45.7%-0.1 pts
FIIs14.4%16.9%+2.5 pts
DIIs24.3%23.7%-0.5 pts
Public and others15.5%13.8%-1.8 pts

Number of shareholders

80,353shareholders+11% since Sep '23
68k75k82k89k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 72,582
Dec '23: 68,181
Mar '24: 77,580
Jun '24: 79,162
Sep '24: 81,196
Dec '24: 74,527
Mar '25: 73,428
Jun '25: 76,424
Sep '25: 88,767
Dec '25: 83,050
Mar '26: 82,016
Jun '26: 80,353
 68k75k82k89k Sep '23Sep '24Sep '25Jun '26
Sep '23: 72,582
Dec '23: 68,181
Mar '24: 77,580
Jun '24: 79,162
Sep '24: 81,196
Dec '24: 74,527
Mar '25: 73,428
Jun '25: 76,424
Sep '25: 88,767
Dec '25: 83,050
Mar '26: 82,016
Jun '26: 80,353

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

−9.8%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 JK CEMENT 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 −26% to +22% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (−7.1%, 80% range −13.1% to +6.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
CEATLTD · Mar 2021: −51.5% vs market
HAPPSTMNDS · Jun 2025: −48.1% vs market
GMMPFAUDLR · Sep 2023: −47.1% vs market
BATAINDIA · Sep 2025: −45.4% vs market
RKFORGE · Nov 2024: −45.2% vs market
MOTHERSON · May 2021: −43.7% vs market
ZYDUSLIFE · May 2021: −43.4% vs market
AARTIIND · Mar 2022: −43.0% vs market
VRLLOG · Apr 2023: −40.0% vs market
RAMCOCEM · Apr 2021: −34.8% vs market
BLUEDART · Oct 2025: −32.9% vs market
SIS · May 2020: −32.9% vs market
SOMANYCERA · Feb 2022: −26.3% vs market
GODREJAGRO · Jun 2022: −25.5% vs market
TRIDENT · May 2025: −24.5% vs market
SAPPHIRE · Jun 2023: −22.2% vs market
UPL · Feb 2020: −20.6% vs market
ASTERDM · Nov 2020: −18.7% vs market
CROMPTON · Jun 2024: −14.2% vs market
GODREJIND · Sep 2020: −14.0% vs market
TVSMOTOR · Mar 2021: −13.4% vs market
JUBLPHARMA · Oct 2025: −11.3% vs market
CENTURYPLY · Oct 2025: −11.0% vs market
FSL · Oct 2025: −10.6% vs market
GREENLAM · Feb 2025: −10.1% vs market
LT · May 2020: −9.6% vs market
SANSERA · Apr 2023: −5.5% vs market
SUPRAJIT · Aug 2025: +3.4% vs market
TATAPOWER · Mar 2025: +3.7% vs market
TORNTPOWER · Apr 2025: +5.7% vs market
M&M · May 2020: +6.3% vs market
NH · Jan 2021: +6.5% vs market
APOLLOHOSP · Jan 2023: +7.3% vs market
JSWENERGY · Mar 2020: +14.4% vs market
TORNTPHARM · May 2022: +18.7% vs market
HATSUN · Sep 2025: +19.7% vs market
ASAHIINDIA · Oct 2024: +19.9% vs market
CCL · Nov 2024: +22.7% vs market
MINDACORP · Aug 2025: +32.6% vs market
BLUESTARCO · Jun 2022: +41.4% vs market
CRAFTSMAN · Mar 2022: +45.4% vs market
BHARATFORG · Mar 2025: +47.2% vs market
JKLAKSHMI · Jul 2020: +50.0% vs market
BRIGADE · Jun 2023: +60.0% vs market
PRIVISCL · Jul 2024: +70.0% vs market
SRF · Feb 2021: +82.6% vs market
VBL · Jan 2022: +91.3% vs market
PRESTIGE · Jun 2023: +124.7% vs market
UNOMINDA · Dec 2020: +127.2% vs market
ELGIEQUIP · Oct 2021: +134.7% vs market
Similar setups −9.8%All companies −2.7%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−9.8%
All companies' median
−2.7%
Beat the market
46% vs 47%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ASAHIINDIA
Consumer Durables		 Oct 2024 60x15% +34%−9% +20%
BHARATFORG
Producer Manufacturing		 Mar 2025 61x13% +4%−35% +47%
APOLLOHOSP
Health Services		 Jan 2023 58x17% −5%−14% +7%
BLUEDART
Transportation		 Oct 2025 63x16% −19%−19% −33%
ASTERDM
Health Services		 Nov 2020 30x12% +4%−6% −19%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GODREJIND
Process Industries		 Sep 2020 25x10% +1%−12% −14%
MINDACORP
Producer Manufacturing		 Aug 2025 47x13% −12%−19% +33%
HATSUN
Consumer Non-Durables		 Sep 2025 72x13% −23%−23% +20%
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: drawdown from 12-month high, 12-month momentum and interest cover. 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 JK CEMENT 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.

APOLLO HOSPITALS ENTERPRISES LAPOLLOHOSP
Health Services
74%similar
operating margindebt/equity
ASHOK LEYLANDASHOKLEY
Producer Manufacturing
74%similar
ROCEmarket cap
ADITYA BIRLA LIFESTYLE BRANDSABLBL
Consumer Non-Durables
72%similar
ROCEpromoter holding
TVS MOTOR COMPANYTVSMOTOR
Consumer Durables
71%similar
EPS growthpromoter holding
SAMVARDHANA MOTHERSON INTMOTHERSON
Producer Manufacturing
69%similar
P/Epromoter holding
ULTRATECH CEMENTULTRACEMCO
Non-Energy Minerals
60%similar
P/Erevenue growth
THE RAMCO CEMENTSRAMCOCEM
Non-Energy Minerals
56%similar
EPS growthrevenue
HINDALCO INDUSTRIESHINDALCO
Non-Energy Minerals
53%similar
operating margindebt/equity

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

What changed?

30 events since Feb '23

  1. OctPriceVolume reached 9.4x its 50-day median on 2026-10-01; price -2.4% that day.
  2. SepResultsYear-on-year EPS growth turned negative.
  3. SepPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
  4. JulPriceVolume reached 5.2x its 50-day median on 2026-07-21; price +3.8% that day.
  5. JunPriceFell 38% from the Aug 2025 peak to the Jun 2026 low.
  6. JunPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  7. MarPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  8. JanPriceVolume reached 5.9x its 50-day median on 2026-01-20; price +1.8% that day.
Show 22 earlier events
  1. DecPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
  2. NovPriceVolume reached 5.0x its 50-day median on 2025-11-03; price -5.1% that day.
  3. SepPriceVolume reached 5.1x its 50-day median on 2025-09-19; price +0.9% that day.
  4. AugValuationP/E crossed above the 90th percentile of its own history to date (62.3x).
  5. JunResultsRevenue (TTM) reached a new high of ₹11,879 cr.
  6. JunPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  7. JunDebtDebt / equity fell below 1.0x (0.99x).
  8. MayPriceVolume reached 9.3x its 50-day median on 2025-05-26; price +2.0% that day.
  9. MarPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  10. JanPriceVolume reached 6.8x its 50-day median on 2025-01-27; price +0.6% that day.
  11. DecPriceVolume reached 5.1x its 50-day median on 2024-12-11; price +2.2% that day.
  12. JunResultsYear-on-year EPS growth turned positive.
  13. JunPeer rankMoved into the 2nd quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
  14. JanPriceVolume reached 10.0x its 50-day median on 2024-01-20; price -1.5% that day.
  15. DecPriceRegained the 2021-11 peak, 18 months after the low.
  16. NovPriceVolume reached 14.6x its 50-day median on 2023-11-06; price +8.7% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹9,720 cr.
  18. JunValuationP/E crossed above the 90th percentile of its own history to date (61.7x).
  19. JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
  20. JunDebtDebt / equity rose above 1.0x (1.13x).
  21. MayPriceVolume reached 5.6x its 50-day median on 2023-05-30; price +2.4% that day.
  22. FebPriceVolume reached 5.7x its 50-day median on 2023-02-17; price +3.0% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1141.3x₹14402 cr13.4%15.0%0.9x
2026-1039.1x₹14402 cr13.3%15.0%0.9x
2026-0941.5x₹14402 cr13.3%15.0%0.9x
2026-0840.0x₹13723 cr14.0%15.0%0.9x
2026-0742.4x₹13723 cr14.0%15.0%0.9x
2026-0642.4x₹13723 cr14.0%15.0%0.9x
2026-0539.2x₹13416 cr16.7%14.0%1.0x
2026-0440.0x₹13416 cr16.7%14.0%1.0x
2026-0338.5x₹13416 cr16.7%14.0%1.0x
2026-0242.2x₹12883 cr17.0%14.0%1.0x
2026-0141.2x₹12883 cr17.0%14.0%1.0x
2025-1241.3x₹12883 cr17.0%14.0%1.0x
2025-1144.5x₹12424 cr16.6%14.0%1.0x
2025-1048.0x₹12424 cr16.6%14.0%1.0x
2025-0948.7x₹12424 cr16.6%14.0%1.0x
2025-0862.3x₹11879 cr14.3%14.0%1.0x
2025-0759.8x₹11879 cr14.3%14.0%1.0x
2025-0655.2x₹11879 cr14.3%14.0%1.0x
2025-0559.0x₹11404 cr13.6%16.0%1.0x
2025-0454.8x₹11404 cr13.6%16.0%1.0x
2025-0352.9x₹11404 cr13.6%16.0%1.0x
2025-0241.6x₹11409 cr15.4%16.0%1.0x
2025-0145.9x₹11409 cr15.4%16.0%1.0x
2024-1243.6x₹11409 cr15.4%16.0%1.0x
2024-1138.3x₹11602 cr16.1%16.0%1.0x
2024-1038.6x₹11602 cr16.1%16.0%1.0x
2024-0941.5x₹11602 cr16.1%16.0%1.0x
2024-0843.5x₹11556 cr14.7%16.0%1.0x
2024-0743.2x₹11556 cr14.7%16.0%1.0x
2024-0642.9x₹11556 cr14.7%16.0%1.0x
2024-0570.6x₹9720 cr8.9%10.0%1.1x
2024-0473.0x₹9720 cr8.9%10.0%1.1x
2024-0374.4x₹9720 cr8.9%10.0%1.1x
2024-0282.4x₹9720 cr8.9%10.0%1.1x
2024-0179.6x₹9720 cr8.9%10.0%1.1x
2023-1269.1x₹9720 cr8.9%10.0%1.1x
2023-1166.5x₹9720 cr8.9%10.0%1.1x
2023-1057.5x₹9720 cr8.9%10.0%1.1x
2023-0958.0x₹9720 cr8.9%10.0%1.1x
2023-0860.1x₹9720 cr8.9%10.0%1.1x
2023-0759.7x₹9720 cr8.9%10.0%1.1x
2023-0661.7x₹9720 cr8.9%10.0%1.1x
2023-0536.1x₹7991 cr15.7%17.0%1.0x
2023-0433.7x₹7991 cr15.7%17.0%1.0x
2023-0332.9x₹7991 cr15.7%17.0%1.0x
2023-0231.1x₹7991 cr15.7%17.0%1.0x
2023-0130.5x₹7991 cr15.7%17.0%1.0x
2022-1232.8x₹7991 cr15.7%17.0%1.0x
2022-1134.6x₹7991 cr15.7%17.0%1.0x
2022-1030.5x₹7991 cr15.7%17.0%1.0x
2022-0929.5x₹7991 cr15.7%17.0%1.0x
2022-0830.5x₹7991 cr15.7%17.0%1.0x
2022-0728.2x₹7991 cr15.7%17.0%1.0x
2022-0623.7x₹7991 cr15.7%17.0%1.0x
2022-0525.9x₹6606 cr18.8%20.0%1.0x
2022-0428.8x₹6606 cr18.8%20.0%1.0x
2022-0326.5x₹6606 cr18.8%20.0%1.0x
2022-0231.0x₹6606 cr18.8%20.0%1.0x
2022-0136.0x₹6606 cr18.8%20.0%1.0x
2021-1237.0x₹6606 cr18.8%20.0%1.0x

Older months are in the live observatory.

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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