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JSW HOLDINGS LIMITED (JSWHL)

Finance · Investment Banks/Brokers · 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.53 / 100
Profitability 54Growth 6Balance 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.37 / 100
Price 46Earnings 29FII/DII 36
Compare withBSEBILLIONBRAINS GARAGE VENTURESMULTI COMMODITY EXCHANGE

Share price

Closing priceAdjusted for splits and bonus issues.

₹10,969 latest close · −11.1% over the last 90 sessions

₹11,000₹12,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹11,000₹12,000Jul 3Sep 4Nov 9

₹10,969 month-end · −45.8% over 12 months

₹10,000₹15,000₹20,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹10,000₹15,000₹20,000Nov '25May '26Nov '26

₹10,969 month-end · +118.8% over 3 years

₹10,000₹20,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹10,000₹20,000Nov '23May '25Nov '26

₹10,969 month-end · +303.9% since Jan '19

₹0₹10,000₹20,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹10,000₹20,000Jan '19Dec '22Nov '26

52-week range ₹10530.00 to ₹22790.00 · 1-year volatility 35.7%

Was the rally earned?

-46%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings took off 19 points and the multiple took off 27 points (P/E 126.8x to 88.6x).
  • The share count barely moved.
Net profit growth: −19 pts. Points of the price return explained by net profit growing (or shrinking).−19 ptsNet profit growthP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27 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: −46%−46%Share priceNet profit growth: −19 pts. Points of the price return explained by net profit growing (or shrinking).−19ProfitP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −46%−46%Share price
Net profit growth-19 ptsNet profit fell about 23%, which lowers the price.
P/E change-27 ptsThe P/E fell from 126.8x to 88.6x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+119%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 16.8x to 88.6x); per-share earnings took off 134 points.
  • The share count barely moved.
Net profit growth: −134 pts. Points of the price return explained by net profit growing (or shrinking).−134 ptsNet profit growthP/E change: +253 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+253 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: +119%+119%Share priceNet profit growth: −134 pts. Points of the price return explained by net profit growing (or shrinking).−134ProfitP/E change: +253 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+253P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +119%+119%Share price
Net profit growth-134 ptsNet profit fell about 59%, which lowers the price.
P/E change+253 ptsThe P/E rose from 16.8x to 88.6x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+163%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 102 points and the multiple added 62 points (P/E 61.5x to 88.6x).
  • The share count barely moved.
Net profit growth: +102 pts. Points of the price return explained by net profit growing (or shrinking).+102 ptsNet profit growthP/E change: +62 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+62 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: +163%+163%Share priceNet profit growth: +102 pts. Points of the price return explained by net profit growing (or shrinking).+102ProfitP/E change: +62 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+62P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +163%+163%Share price
Net profit growth+102 ptsNet profit rose about 83%, which lifts the price.
P/E change+62 ptsThe P/E rose from 61.5x to 88.6x, 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 BSE

How rough has the ride been?

Maximum drawdown-59.7%not yet recovered
1-year volatility35.7%annualised
Beta vs sector index0.653-year daily, correlation 0.26
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−58.9% 0%−20%−40%−60%2020202220242026−58.9%
Largest drawdowns

-59.7% (2025-04 peak to 2026-07 low, not yet recovered)

-55.2% (2019-05 peak to 2020-03 low, recovered 2020-11)

-50.8% (2021-06 peak to 2022-06 low, recovered 2024-01)

Most recent volume spikes

2026-10-29: 18.1x the 50-day median, price +1.1% that day

2026-10-09: 14.3x the 50-day median, price +1.7% that day

2026-09-30: 19.5x the 50-day median, price +3.1% 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?

88.6xP/E todayNear its historic high
Against its own history82nd percentile
CheapestMedian 42.0xDearest

Usual range 18.6x to 102.6x since 2019-01.

Against Finance88.6x vs 18.1x
This company
88.6x
Sector median
18.1x

389% above the Finance median.

9.5x66.6x123.6x180.7xJan '19Aug '20Mar '22Oct '23May '25Nov '269.5x66.6x123.6x180.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianFinance 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 Finance is valued

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

  • ROCE18th▲ 4 pts vs a year ago
  • Op. margin90th▼ 3 pts vs a year ago
  • Revenue growth9th▼ 77 pts vs a year ago
  • EPS growth30th▼ 14 pts vs a year ago
  • Debt/equity ↓90thflat vs a year ago
  • Cash cycle ↓76th▼ 14 pts vs a year ago
  • P/E ↓6thflat vs a year ago
  • 12M momentum6th▼ 86 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?

~29%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 62.2x, a holder earning 12%/yr needs earnings to grow about 29.1%/yr for 10 years, then trade at 15x.

Delivered12.6%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+16.6 ptsimplied minus delivered
Rank207thmost demanding of 856

Over time

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

0%21%42% Jan 2019Nov 2026 0%21%42% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x30.9%32.0%33.2%
15x28.0%29.1%30.3%
20x24.3%25.5%26.6%

Drag a slider to test other assumptions

Implied: 29.1%/yr

Looking back

  • Jan 2020Price implied 19%/yr; EPS has since grown 6%/yr (7.0 yrs)
  • Jan 2021Price implied 23%/yr; EPS has since grown 6%/yr (6.0 yrs)
  • Jan 2022Price implied 29%/yr; EPS has since grown 14%/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 Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹10969.00
P/E
88.6x
ROCE
1.0%
Market Cap
₹12175 cr
Revenue (TTM)
₹185 cr
P/S
65.8x
P/B
0.4x
ROE
0.4%
Operating Margin
84.0%
Debt / Equity
0.0x
Promoter Holding
66.3%
12M Momentum
-45.8%

52-week range

₹10530.00₹22790.00
4% of the way from its 52-week low to its high

Price risk

1Y volatility
35.7%
Beta vs sector
1-year daily
0.79

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.85x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 5checks within rangeAll clear
Other income reliance5%Within range

Other income as a share of pre-tax profit (trailing twelve months): 4.8%. 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 conversion0.85xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.85x (cash from operations ₹424 cr, net profit ₹499 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+2 daysWithin range

Debtor days are above the median of the previous three fiscal years by 2 days (4 vs 2). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress—Not enough data

Not enough reported data to compute this.

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 rose from 20,116 to 28,192 (+40%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters66.3%66.3%0.0 pts
FIIs22.4%22.3%-0.1 pts
DIIs0.0%0.2%+0.1 pts
Public and others11.3%11.2%0.0 pts

Number of shareholders

28,192shareholders+40% since Dec '23
20k23k26k28k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 20,116
Mar '24: 21,673
Jun '24: 21,870
Sep '24: 21,931
Dec '24: 24,726
Mar '25: 22,550
Jun '25: 23,908
Sep '25: 24,754
Dec '25: 23,928
Mar '26: 25,929
Jun '26: 28,192
 20k23k26k28k Dec '23Dec '24Dec '25Jun '26
Dec '23: 20,116
Mar '24: 21,673
Jun '24: 21,870
Sep '24: 21,931
Dec '24: 24,726
Mar '25: 22,550
Jun '25: 23,908
Sep '25: 24,754
Dec '25: 23,928
Mar '26: 25,929
Jun '26: 28,192

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

−5.1%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 46 past situations where a non-financial company looked like JSW HOLDINGS 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 −21% to +27% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (−3.2%, 80% range −8.8% to +4.8%) is within what chance and overlapping periods produce.

Where the 46 outcomes landed

−100%−50%0%+50%+100%
TATVA · Jun 2023: −59.1% vs market
FMGOETZE · Aug 2020: −53.9% vs market
IITL · Oct 2025: −41.0% vs market
VAKRANGEE · Jun 2021: −36.0% vs market
MANYAVAR · Aug 2025: −31.7% vs market
MAHLIFE · Aug 2024: −27.4% vs market
EIHOTEL · Aug 2020: −26.7% vs market
ENIL · Oct 2020: −23.0% vs market
MOIL · May 2025: −22.8% vs market
PILANIINVS · Oct 2025: −22.6% vs market
SUBEXLTD · Dec 2022: −21.1% vs market
NAUKRI · Feb 2022: −20.8% vs market
RESPONIND · May 2021: −20.8% vs market
MODIRUBBER · Mar 2022: −14.4% vs market
3MINDIA · Jul 2021: −14.3% vs market
TEXINFRA · Jul 2021: −12.7% vs market
NATCOPHARM · Jun 2022: −11.2% vs market
RIIL · Sep 2023: −10.2% vs market
WONDERLA · Oct 2025: −9.3% vs market
AETHER · Jul 2024: −8.9% vs market
DOLPHIN · May 2025: −8.7% vs market
SUMMITSEC · Dec 2021: −7.9% vs market
GKWLIMITED · Oct 2025: −5.2% vs market
BORORENEW · Jan 2023: −4.9% vs market
LINDEINDIA · Aug 2024: −4.3% vs market
PARAS · Oct 2022: −1.3% vs market
VLSFINANCE · Oct 2025: +3.2% vs market
KICL · Jan 2022: +5.3% vs market
ITDC · Oct 2020: +5.6% vs market
SUNTECK · Dec 2022: +6.4% vs market
UNIENTER · Feb 2024: +8.2% vs market
NAZARA · Jan 2023: +8.2% vs market
CARTRADE · Jun 2023: +10.3% vs market
MAHSCOOTER · Jan 2022: +21.9% vs market
DLF · Sep 2022: +28.3% vs market
TATAINVEST · May 2021: +33.6% vs market
LAOPALA · May 2022: +36.4% vs market
LMW · Jun 2020: +39.8% vs market
HEG · Dec 2020: +43.0% vs market
MCX · Sep 2022: +44.8% vs market
URJA · Aug 2023: +50.8% vs market
MAHAPEXLTD · Jul 2022: +69.7% vs market
ZENTEC · Jul 2021: +72.8% vs market
APTECHT · May 2022: +128.2% vs market
QUICKHEAL · Jul 2023: +154.1% vs market
LPDC · Jul 2020: +189.7% vs market
Similar setups −5.1%All companies −1.9%← 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
−5.1%
All companies' median
−1.9%
Beat the market
43% vs 48%

46 past situations · 46 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MAHSCOOTER
Finance		 Jan 2022 475x0% +2%−24% +22%
DOLPHIN
Industrial Services		 May 2025 46x1% −43%−50% −9%
VAKRANGEE
Retail Trade		 Jun 2021 71x3% +19%−40% −36%
RIIL
Industrial Services		 Sep 2023 83x3% −11%−20% −10%
IITL
Finance		 Oct 2025 64x1% −39%−54% −41%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GKWLIMITED
Transportation		 Oct 2025 287x5% −48%−52% −5%
MCX
Finance		 Sep 2022 43x14% −27%−41% +45%
TATAINVEST
Finance		 May 2021 59x1% +45%−8% +34%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/E. Not used (unavailable for this company): 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 JSW HOLDINGS 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.

MOILMOIL
Non-Energy Minerals
57%similar
debt/equitypromoter holding
ARCHEAN CHEMICAL INDACI
Process Industries
43%similar
EPS growthrevenue growth
WONDERLA HOLIDAYSWONDERLA
Consumer Services
40%similar
operating margindebt/equity
GKWGKWLIMITED
Transportation
35%similar
debt/equityrevenue
GRAPHITE INDIAGRAPHITE
Process Industries
34%similar
promoter holdingmarket cap
NALWA SONS INVESTMENTNSIL
Finance
60%similar
operating marginROCE
PILANI INVESTMENT AND INDUSTRIPILANIINVS
Finance
46%similar
ROCEoperating margin
MAHARASHTRA SCOOTERSMAHSCOOTER
Finance
41%similar
ROCEdebt/equity

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

What changed?

30 events since Jun '23

  1. OctPriceVolume reached 18.1x its 50-day median on 2026-10-29; price +1.1% that day.
  2. SepPriceVolume reached 20.1x its 50-day median on 2026-09-15; price -4.2% that day.
  3. JulPriceFell 60% from the Apr 2025 peak to the Jul 2026 low.
  4. AprPriceVolume reached 6.3x its 50-day median on 2026-04-13; price -1.3% that day.
  5. MarPeer rankMoved into the 3rd quartile of Finance on EPS growth (from the bottom quartile).
  6. MarPriceVolume reached 44.5x its 50-day median on 2026-03-20; price -5.2% that day.
  7. DecPeer rankSlipped to the bottom quartile of Finance on EPS growth (from the 3rd quartile).
  8. OctPriceVolume reached 13.1x its 50-day median on 2025-10-01; price -5.0% that day.
Show 22 earlier events
  1. SepResultsYear-on-year EPS growth turned negative.
  2. SepPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the bottom quartile).
  5. MayPriceVolume reached 6.8x its 50-day median on 2025-05-30; price +2.7% that day.
  6. MarPriceRegained the 2024-11 peak, 4 months after the low.
  7. MarPriceVolume reached 40.1x its 50-day median on 2025-03-21; price +4.8% that day.
  8. NovPriceFell 28% from the Nov 2024 peak to the Nov 2024 low.
  9. NovValuationP/E crossed above the 90th percentile of its own history to date (85.4x).
  10. NovPriceVolume reached 36.3x its 50-day median on 2024-11-08; price +18.3% that day.
  11. SepPriceVolume reached 28.3x its 50-day median on 2024-09-24; price +9.4% that day.
  12. JunResultsYear-on-year EPS growth turned negative.
  13. JunPeer rankSlipped to the bottom quartile of Finance on EPS growth (from the top quartile).
  14. JunPriceVolume reached 44.8x its 50-day median on 2024-06-24; price +10.3% that day.
  15. JanPriceRegained the 2021-06 peak, 19 months after the low.
  16. JanPriceVolume reached 43.1x its 50-day median on 2024-01-25; price +0.0% that day.
  17. OctPriceVolume reached 35.5x its 50-day median on 2023-10-09; price -3.0% that day.
  18. SepPriceVolume reached 59.6x its 50-day median on 2023-09-08; price +4.0% that day.
  19. JunResultsRevenue (TTM) reached a new high of ₹407 cr.
  20. JunValuationP/E fell below the 10th percentile of its own history to date (15.4x).
  21. JunPeer rankMoved into the top quartile of Finance on EPS growth (from the 2nd quartile).
  22. JunPriceVolume reached 226.1x its 50-day median on 2023-06-14; price +12.1% 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
2026-1188.6x₹185 cr0.4%1.0%0.0x
2026-1088.1x₹185 cr0.4%1.0%0.0x
2026-0991.7x₹185 cr0.4%1.0%0.0x
2026-0891.0x₹180 cr0.4%1.0%0.0x
2026-0785.2x₹180 cr0.4%1.0%0.0x
2026-0691.4x₹180 cr0.4%1.0%0.0x
2026-05102.4x₹176 cr0.5%1.0%0.0x
2026-0496.3x₹176 cr0.5%1.0%0.0x
2026-0387.8x₹176 cr0.5%1.0%0.0x
2026-02147.8x₹172 cr0.4%1.0%0.0x
2026-01158.3x₹172 cr0.4%1.0%0.0x
2025-12180.7x₹172 cr0.4%1.0%0.0x
2025-11126.8x₹250 cr0.6%1.0%0.0x
2025-10102.7x₹250 cr0.6%1.0%0.0x
2025-09102.2x₹250 cr0.6%1.0%0.0x
2025-0898.6x₹247 cr0.6%1.0%0.0x
2025-07112.3x₹247 cr0.6%1.0%0.0x
2025-06127.7x₹247 cr0.6%1.0%0.0x
2025-05116.5x₹245 cr0.9%1.0%0.0x
2025-04117.8x₹245 cr0.9%1.0%0.0x
2025-03116.3x₹245 cr0.9%1.0%0.0x
2025-0275.6x₹243 cr0.9%1.0%0.0x
2025-0180.7x₹243 cr0.9%1.0%0.0x
2024-1270.9x₹243 cr0.9%1.0%0.0x
2024-1185.4x₹170 cr0.7%1.0%0.0x
2024-1058.3x₹170 cr0.7%1.0%0.0x
2024-0955.0x₹170 cr0.7%1.0%0.0x
2024-0851.6x₹170 cr0.6%1.0%0.0x
2024-0750.4x₹170 cr0.6%1.0%0.0x
2024-0651.3x₹170 cr0.6%1.0%0.0x
2024-0521.9x₹407 cr1.7%2.0%0.0x
2024-0422.7x₹407 cr1.7%2.0%0.0x
2024-0324.1x₹407 cr1.7%2.0%0.0x
2024-0221.5x₹407 cr1.7%2.0%0.0x
2024-0120.6x₹407 cr1.7%2.0%0.0x
2023-1217.2x₹407 cr1.7%2.0%0.0x
2023-1116.8x₹407 cr1.7%2.0%0.0x
2023-1015.3x₹407 cr1.7%2.0%0.0x
2023-0916.9x₹407 cr1.7%2.0%0.0x
2023-0814.8x₹407 cr1.7%2.0%0.0x
2023-0715.5x₹407 cr1.7%2.0%0.0x
2023-0615.4x₹407 cr1.7%2.0%0.0x
2023-0530.4x₹186 cr0.8%1.0%0.0x
2023-0431.8x₹186 cr0.8%1.0%0.0x
2023-0328.1x₹186 cr0.8%1.0%0.0x
2023-0228.6x₹186 cr0.8%1.0%0.0x
2023-0129.5x₹186 cr0.8%1.0%0.0x
2022-1231.9x₹186 cr0.8%1.0%0.0x
2022-1131.4x₹186 cr0.8%1.0%0.0x
2022-1030.9x₹186 cr0.8%1.0%0.0x
2022-0931.2x₹186 cr0.8%1.0%0.0x
2022-0826.5x₹186 cr0.8%1.0%0.0x
2022-0725.4x₹186 cr0.8%1.0%0.0x
2022-0622.8x₹186 cr0.8%1.0%0.0x
2022-0551.2x₹93 cr0.6%1.0%0.0x
2022-0460.4x₹93 cr0.6%1.0%0.0x
2022-0360.6x₹93 cr0.6%1.0%0.0x
2022-0257.1x₹93 cr0.6%1.0%0.0x
2022-0167.5x₹93 cr0.6%1.0%0.0x
2021-1261.2x₹93 cr0.6%1.0%0.0x
2021-1161.5x₹93 cr0.6%1.0%0.0x
2021-1066.2x₹93 cr0.6%1.0%0.0x
2021-0969.2x₹93 cr0.6%1.0%0.0x
2021-0872.5x₹93 cr0.6%1.0%0.0x
2021-0776.8x₹93 cr0.6%1.0%0.0x
2021-0670.5x₹93 cr0.6%1.0%0.0x
2021-0550.2x₹121 cr1.5%2.0%0.0x
2021-0442.0x₹121 cr1.5%2.0%0.0x
2021-0340.1x₹121 cr1.5%2.0%0.0x
2021-0238.4x₹121 cr1.5%2.0%0.0x
2021-0139.0x₹121 cr1.5%2.0%0.0x
2020-1240.2x₹121 cr1.5%2.0%0.0x
2020-1136.0x₹121 cr1.5%2.0%0.0x
2020-1025.2x₹121 cr1.5%2.0%0.0x
2020-0923.5x₹121 cr1.5%2.0%0.0x
2020-0824.8x₹121 cr1.5%2.0%0.0x
2020-0718.5x₹121 cr1.5%2.0%0.0x
2020-0620.0x₹121 cr1.5%2.0%0.0x
2020-0517.8x₹107 cr1.2%1.0%0.0x
2020-0418.8x₹107 cr1.2%1.0%0.0x
2020-0316.0x₹107 cr1.2%1.0%0.0x
2020-0226.6x₹107 cr1.2%1.0%0.0x
2020-0126.8x₹107 cr1.2%1.0%0.0x
2019-1224.3x₹107 cr1.2%1.0%0.0x
2019-1126.9x₹107 cr1.2%1.0%0.0x
2019-1029.5x₹107 cr1.2%1.0%0.0x
2019-0931.1x₹107 cr1.2%1.0%0.0x
2019-0830.6x₹107 cr1.2%1.0%0.0x
2019-0726.3x₹107 cr1.2%1.0%0.0x
2019-0632.7x₹107 cr1.2%1.0%0.0x
2019-0547.7x₹89 cr0.8%2.0%0.0x
2019-0447.5x₹89 cr0.8%2.0%0.0x
2019-0345.7x₹89 cr0.8%2.0%0.0x
2019-0237.7x₹89 cr0.8%2.0%0.0x
2019-0143.3x₹89 cr0.8%2.0%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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