JUPITER WAGONS LIMITED (JWL): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹204.5 latest close · −22.0% over the last 90 sessions

₹204.5 month-end · −28.4% over 12 months

₹204.5 month-end · −41.2% over 3 years

₹204.5 month-end · +530.2% since Jun '21

52-week range ₹169.08 to ₹358.25 · 1-year volatility 45.7%

Was the rally earned?

1 year3 years5 years

-28%share price, 1 yearEarnings-driven

Mostly earnings.

Per-share earnings took off 57 points, while the multiple moved less (P/E 37.6x to 52.4x).
The share count fell 2%.

Net profit growth-59 ptsNet profit fell about 50%, which lowers the price.

P/E change+28 ptsThe P/E rose from 37.6x to 52.4x, which lifts the price.

Share count change+2 ptsShare count fell 2%, which lifts the price.

-41%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 17 points, but investors now pay less per rupee of profit (P/E 111.5x to 52.4x), which took 58 points back.
The share count rose 6%.

Net profit growth+22 ptsNet profit rose about 32%, which lifts the price.

P/E change-58 ptsThe P/E fell from 111.5x to 52.4x, which lowers the price.

Share count change-4 ptsShare count rose 6%, which lowers the price.

+544%share price, 5 yearsMultiple-driven

Partly.

Most of the rise came from investors paying a higher multiple (P/E 5.3x to 52.4x); per-share earnings took off 124 points.
The share count rose 362%.

Net profit growth+323 ptsNet profit rose about 202%, which lifts the price.

P/E change+669 ptsThe P/E rose from 5.3x to 52.4x, which lifts the price.

Share count change-447 ptsShare count rose 362%, 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.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with ASHOK LEYLAND

How rough has the ride been?

Maximum drawdown-76.2%not yet recovered

1-year volatility45.7%annualised

Beta vs sector index1.443-year daily, correlation 0.59

Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-76.2% (2024-07 peak to 2026-10 low, not yet recovered)

-70.2% (2019-03 peak to 2020-03 low, recovered 2021-01)

-49.5% (2021-01 peak to 2021-04 low, recovered 2021-06)

Most recent volume spikes

2026-10-29: 45x the 50-day median, price +6.7% that day

2026-09-30: 38.4x the 50-day median, price +6.1% that day

2026-07-29: 11.4x the 50-day median, price +5.6% 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?

52.4xP/E todayWithin its usual range

Against its own history65th percentile

CheapestMedian 42.7xDearest

Usual range 7.0x to 107.5x since 2021-06.

Against Producer Manufacturing52.4x vs 29.6x

This company

52.4x

Sector median

29.6x

77% above the Producer Manufacturing median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

ROCE24th▼ 45 pts vs a year ago
Op. margin41st▼ 17 pts vs a year ago
Revenue growth8th▼ 5 pts vs a year ago
EPS growth12th▼ 19 pts vs a year ago
Debt/equity ↓41st▼ 15 pts vs a year ago
Cash cycle ↓21st▼ 24 pts vs a year ago
P/E ↓22nd▼ 20 pts vs a year ago
12M momentum20th▲ 7 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 40.0x, a holder earning 12%/yr needs earnings to grow about 22.8%/yr for 10 years, then trade at 15x.

Delivered53.4%/yrEPS, last 6 fiscal years · 3-yr avg to 3-yr avg

Gap−30.6 ptsimplied minus delivered

Rank822ndmost demanding of 856

Over time

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

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	24.3%	25.4%	26.6%
15x	21.7%	22.8%	23.9%
20x	18.4%	19.4%	20.5%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 22.8%/yr

Looking back

Jan 2022Price implied 6%/yr; EPS has since grown 23%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹204.50
P/E: 52.4x
ROCE: 9.0%
Market Cap: ₹8729 cr
Revenue (TTM): ₹3127 cr
P/S: 2.8x
P/B: 2.9x
ROE: 5.6%
Operating Margin: 10.0%
Debt / Equity: 0.3x
Promoter Holding: 68.3%
12M Momentum: -28.4%

52-week range

₹169.08₹358.25

19% of the way from its 52-week low to its high

Price risk

1Y volatility

45.7%

Beta vs sector

1-year daily

1.24

Balance sheet & cash

Interest cover

operating profit ÷ interest

4.4x

Cash from profit, 3Y

operating cash flow ÷ net profit

0.11x

low

Share count, 1Y

+0.7%

Are profits backed by cash?

4 of 7checks within range2 beyond a threshold

Other income reliance9%Within range

Other income as a share of pre-tax profit (trailing twelve months): 8.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 27.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.11xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.11x (cash from operations ₹94 cr, net profit ₹877 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+46 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 46 days (95 vs 49). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress24% of fixed assetsWithin range

Capital work-in-progress is 24% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-2 days / 2 yrsWithin range

Days payable changed by -2 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, FIIs added 2.2 pts; promoters trimmed 1.8 pts; DIIs trimmed 1.3 pts.
The number of shareholders rose from 1.3 lakh to 3.8 lakh (+201%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters70.1%68.3%-1.8 pts

FIIs1.3%3.5%+2.2 pts

DIIs2.0%0.8%-1.3 pts

Public and others26.6%27.4%+0.9 pts

Number of shareholders

3.8 lakhshareholders+201% since Dec '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

−10.9%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 JUPITER WAGONS 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 −28% to +46% vs the market, against 0% for all non-financial companies in the same months.
The gap against the base rate (−10.5%, 80% range −22.0% to +3.6%) 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

−10.9%

All companies' median

−0.4%

Beat the market

44% vs 50%

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

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
LXCHEM Process Industries	Jun 2023	55x	11%	−9%	−32%	−34%
JAICORPLTD Process Industries	Dec 2020	50x	3%	+4%	−19%	−4%
BHARATFORG Producer Manufacturing	Jun 2020	43x	7%	−29%	−40%	+46%
AMBER Producer Manufacturing	May 2022	109x	9%	−4%	−33%	−26%
TRIDENT Process Industries	Oct 2023	40x	12%	−1%	−18%	−29%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
AVALON Electronic Technology	Jun 2024	127x	6%	−2%	−22%	+53%
CIEINDIA Producer Manufacturing	Jan 2022	76x	4%	+31%	−29%	+87%
BORORENEW Process Industries	Mar 2023	70x	10%	−29%	−48%	−19%

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: 12-month momentum, ROCE and P/S. 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 JUPITER WAGONS 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.

MISHRA DHATU NIGAMMIDHANI

Non-Energy Minerals

67%similar

P/Evolatility

WELSPUN LIVINGWELSPUNLIV

Consumer Non-Durables

67%similar

volatilityoperating margin

SHEELA FOAMSFL

Process Industries

66%similar

operating margindebt/equity

MAHINDRA LOGISTICSMAHLOG

Transportation

64%similar

revenue growthROCE

LAXMI ORGANIC INDUSTRIESLXCHEM

Process Industries

63%similar

revenuevolatility

GREAVES COTTONGREAVESCOT

Producer Manufacturing

71%similar

EPS growthvolatility

STEEL STRIPS WHEELSSSWL

Producer Manufacturing

69%similar

market capoperating margin

BOROSILBOROLTD

Producer Manufacturing

66%similar

P/Evolatility

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

What changed?

30 events since Jun '23

2026
OctPriceFell 76% from the Jul 2024 peak to the Oct 2026 low.
OctPriceVolume reached 45.0x its 50-day median on 2026-10-29; price +6.7% that day.
SepPriceVolume reached 38.4x its 50-day median on 2026-09-30; price +6.1% that day.
JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
AprPriceVolume reached 10.8x its 50-day median on 2026-04-07; price +3.1% that day.
JanPriceVolume reached 58.5x its 50-day median on 2026-01-14; price +12.6% that day.
2025
DecPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
DecPriceVolume reached 253.1x its 50-day median on 2025-12-23; price +8.2% that day.

Show 22 earlier events

2025
SepResultsYear-on-year EPS growth turned negative.
SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
AugPriceVolume reached 76.0x its 50-day median on 2025-08-21; price +4.1% that day.
JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
MayPriceVolume reached 6.1x its 50-day median on 2025-05-19; price -2.6% that day.
JanPriceVolume reached 49.8x its 50-day median on 2025-01-31; price +12.6% that day.
2024
DecPromoterPromoter holding fell 2.0 pts to 68.1%.
DecPriceVolume reached 39.3x its 50-day median on 2024-12-11; price +11.1% that day.
JunResultsYear-on-year EPS growth turned positive.
JunPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
JunDividendDividend payout cut from 16% to 7% of profit.
JunSharesShare count is up 6.5% over 12 months.
MayPriceVolume reached 23.9x its 50-day median on 2024-05-10; price +16.3% that day.
AprPriceRegained the 2024-01 peak, 1 month after the low.
MarPriceFell 26% from the Jan 2024 peak to the Mar 2024 low.
JanPriceRegained the 2023-09 peak, 3 months after the low.
JanPriceVolume reached 5.5x its 50-day median on 2024-01-16; price +3.3% that day.
2023
DecPriceVolume reached 7.4x its 50-day median on 2023-12-14; price +4.3% that day.
OctPriceFell 30% from the Sep 2023 peak to the Oct 2023 low.
JunResultsRevenue (TTM) reached a new high of ₹2,068 cr.
JunValuationP/E crossed above the 90th percentile of its own history to date (55.7x).
JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 3rd quartile).

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 history66 months · 2021-06 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	52.4x	₹3127 cr	5.6%	9.0%	0.3x
2026-10	46.6x	₹3127 cr	5.6%	9.0%	0.3x
2026-09	59.8x	₹3127 cr	5.6%	9.0%	0.3x
2026-08	60.0x	₹2915 cr	5.8%	9.0%	0.3x
2026-07	64.6x	₹2915 cr	5.8%	9.0%	0.3x
2026-06	66.8x	₹2915 cr	5.8%	9.0%	0.3x
2026-05	50.4x	₹3180 cr	9.1%	21.0%	0.2x
2026-04	49.2x	₹3180 cr	9.1%	21.0%	0.2x
2026-03	41.3x	₹3180 cr	9.1%	21.0%	0.2x
2026-02	40.5x	₹3320 cr	10.4%	21.0%	0.2x
2026-01	49.1x	₹3320 cr	10.4%	21.0%	0.2x
2025-12	51.6x	₹3320 cr	10.4%	21.0%	0.2x
2025-11	37.6x	₹3543 cr	12.1%	21.0%	0.2x
2025-10	42.5x	₹3543 cr	12.1%	21.0%	0.2x
2025-09	44.2x	₹3543 cr	12.1%	21.0%	0.2x
2025-08	35.0x	₹3964 cr	14.4%	21.0%	0.2x
2025-07	37.7x	₹3964 cr	14.4%	21.0%	0.2x
2025-06	42.9x	₹3964 cr	14.4%	21.0%	0.2x
2025-05	43.1x	₹4034 cr	24.6%	31.0%	0.2x
2025-04	38.6x	₹4034 cr	24.6%	31.0%	0.2x
2025-03	40.2x	₹4034 cr	24.6%	31.0%	0.2x
2025-02	32.7x	₹3900 cr	23.6%	31.0%	0.2x
2025-01	45.2x	₹3900 cr	23.6%	31.0%	0.2x
2024-12	56.5x	₹3900 cr	23.6%	31.0%	0.2x
2024-11	55.7x	₹3770 cr	23.2%	31.0%	0.2x
2024-10	58.5x	₹3770 cr	23.2%	31.0%	0.2x
2024-09	58.2x	₹3770 cr	23.2%	31.0%	0.2x
2024-08	70.6x	₹3643 cr	21.3%	31.0%	0.2x
2024-07	74.8x	₹3643 cr	21.3%	31.0%	0.2x
2024-06	84.6x	₹3643 cr	21.3%	31.0%	0.2x
2024-05	193.0x	₹2068 cr	15.7%	24.0%	0.4x
2024-04	130.9x	₹2068 cr	15.7%	24.0%	0.4x
2024-03	119.9x	₹2068 cr	15.7%	24.0%	0.4x
2024-02	119.2x	₹2068 cr	15.7%	24.0%	0.4x
2024-01	129.5x	₹2068 cr	15.7%	24.0%	0.4x
2023-12	102.2x	₹2068 cr	15.7%	24.0%	0.4x
2023-11	111.5x	₹2068 cr	15.7%	24.0%	0.4x
2023-10	100.2x	₹2068 cr	15.7%	24.0%	0.4x
2023-09	104.9x	₹2068 cr	15.7%	24.0%	0.4x
2023-08	110.0x	₹2068 cr	15.7%	24.0%	0.4x
2023-07	65.8x	₹2068 cr	15.7%	24.0%	0.4x
2023-06	55.7x	₹2068 cr	15.7%	24.0%	0.4x
2023-05	23.7x	₹1178 cr	7.6%	12.0%	0.2x
2023-04	18.9x	₹1178 cr	7.6%	12.0%	0.2x
2023-03	16.6x	₹1178 cr	7.6%	12.0%	0.2x
2023-02	16.7x	₹1178 cr	7.6%	12.0%	0.2x
2023-01	22.2x	₹1178 cr	7.6%	12.0%	0.2x
2022-12	16.5x	₹1178 cr	7.6%	12.0%	0.2x
2022-11	15.5x	₹1178 cr	7.6%	12.0%	0.2x
2022-10	13.2x	₹1178 cr	7.6%	12.0%	0.2x
2022-09	12.9x	₹1178 cr	7.6%	12.0%	0.2x
2022-08	14.4x	₹1178 cr	7.6%	12.0%	0.2x
2022-07	10.6x	₹1178 cr	7.6%	12.0%	0.2x
2022-06	9.9x	₹1178 cr	7.6%	12.0%	0.2x
2022-05	9.5x	₹996 cr	8.7%	—	0.2x
2022-04	9.5x	₹996 cr	8.7%	—	0.2x
2022-03	7.3x	₹996 cr	8.7%	—	0.2x
2022-02	6.7x	₹996 cr	8.7%	—	0.2x
2022-01	8.3x	₹996 cr	8.7%	—	0.2x
2021-12	7.3x	₹996 cr	8.7%	—	0.2x
2021-11	5.3x	₹996 cr	8.7%	—	0.2x
2021-10	5.5x	₹996 cr	8.7%	—	0.2x
2021-09	5.4x	₹996 cr	8.7%	—	0.2x
2021-08	5.1x	₹996 cr	8.7%	—	0.2x
2021-07	6.2x	₹996 cr	8.7%	—	0.2x
2021-06	5.4x	₹996 cr	8.7%	—	0.2x

Methodology and data notes