52-week range
Price risk
Balance sheet & cash
Was the rally earned?
Mostly yes, with a catch.
- Per-share earnings added 88 points, but investors now pay less per rupee of profit (P/E 26.0x to 12.9x), which took 75 points back.
- The share count rose 6%.
Mostly yes, with a catch.
- Per-share earnings added 346 points, but investors now pay less per rupee of profit (P/E 71.6x to 12.9x), which took 247 points back.
- The share count rose 19%.
Mostly yes.
- Per-share earnings added 34 points to the rise, while the multiple moved less (P/E 11.8x to 12.9x).
- The share count rose 16%.
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.
Is it expensive against its own past and its peers?
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How to read this
Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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.
What is the price implying?
At a P/E of 36.6x, the price would imply about 21.5%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Below the ₹1,000 cr market-cap floor used for the lists.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Producer Manufacturing The market-wide Expectations lists
What changed?
- Aug '26Regained the 2025-09 peak, 5 months after the low.
- Aug '26Volume reached 68.9x its 50-day median on 2026-08-13; price +12.0% that day.
- Jun '26Moved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
- Jun '26Dividend payout cut from 18% to 7% of profit.
- Jun '26Share count is up 9.1% over 12 months.
- Apr '26Volume reached 18.0x its 50-day median on 2026-04-27; price +1.4% that day.
- Mar '26Fell 36% from the Sep 2025 peak to the Mar 2026 low.
- Mar '26Slipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
Show 22 earlier events
- Feb '26Volume reached 22.7x its 50-day median on 2026-02-11; price +3.2% that day.
- Dec '25Moved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
- Dec '25Volume reached 5.1x its 50-day median on 2025-12-24; price +6.4% that day.
- Sep '25Revenue (TTM) reached a new high of ₹661 cr.
- Sep '25Slipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
- Sep '25Volume reached 10.0x its 50-day median on 2025-09-10; price +1.6% that day.
- Jun '25Moved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
- Jun '25Debt / equity fell below 1.0x (0.71x).
- Jun '25Started paying a dividend (payout 18% of profit).
- May '25Regained the 2021-07 peak, 26 months after the low.
- May '25Volume reached 85.3x its 50-day median on 2025-05-14; price +19.9% that day.
- Apr '25Year-on-year EPS growth turned positive.
- Mar '25EPS (TTM) turned positive.
- Mar '25Moved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
- Feb '25Volume reached 26.3x its 50-day median on 2025-02-06; price -4.8% that day.
- Dec '24Volume reached 34.8x its 50-day median on 2024-12-03; price +14.3% that day.
- Sep '24EPS (TTM) turned negative.
- Aug '24Volume reached 9.7x its 50-day median on 2024-08-22; price +4.6% that day.
- Jun '24P/E crossed above the 90th percentile of its own history to date (279.7x).
- Jun '24Debt / equity rose above 1.0x (1.24x).
- Jun '24Dividend payout cut from 30% to 0% of profit.
- Feb '24Volume reached 56.2x its 50-day median on 2024-02-02; price +13.6% 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
Are profits backed by cash?
5 of 7 checks are within range, 2 near a threshold.
Tap a check to see how it is measured.
Other income reliance27%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 26.7%. 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 conversion1.63xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.63x (cash from operations ₹83 cr, net profit ₹51 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow3 of 5 yrsNear threshold
Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-7 daysWithin range
Debtor days are below the median of the previous three fiscal years by 7 days (48 vs 55). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress4% of fixed assetsWithin range
Capital work-in-progress is 4% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-4 days / 2 yrsWithin range
Days payable changed by -4 over two years. Bands: rise of up to 30 days; more than 30 days.
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.
Who has been buying and selling?
- Over 2 years, DIIs added 1.4 pts; promoters added 1.3 pts.
- The number of shareholders fell from 9,293 to 7,552 (-19%) between Dec 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-62.8% (2021-07 peak to 2023-03 low, recovered 2025-05)
-35.5% (2025-09 peak to 2026-03 low, recovered 2026-08)
-23.9% (2021-03 peak to 2021-04 low, recovered 2021-05)
Most recent volume spikes
2026-08-24: 5.2x the 50-day median, price +5.8% that day
2026-08-21: 11.8x the 50-day median, price -2.0% that day
2026-08-20: 5.6x the 50-day median, price +3.7% 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 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).
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 else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| SCODA TUBES (SCODATUBES) | Non-Energy Minerals | 71% | ROCE, market cap |
| PROSTARM INFO SYSTEMS (PROSTARM) | Electronic Technology | 67% | operating margin, market cap |
| DMCC SPECIALITY CHEMICALS (DMCC) | Process Industries | 61% | revenue, debt/equity |
| MMP INDUSTRIES (MMP) | Non-Energy Minerals | 60% | revenue, operating margin |
| GPT INFRAPROJECTS (GPTINFRA) | Industrial Services | 58% | revenue growth, promoter holding |
| SOLEX ENERGY (SOLEX) | Producer Manufacturing | 53% | market cap, EPS growth |
| VILAS TRANSCORE (VILAS) | Producer Manufacturing | 50% | ROCE, market cap |
| NDR AUTO COMPONENTS (NDRAUTO) | Producer Manufacturing | 49% | revenue, operating margin |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like KANPUR PLASTIPACK 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 −15% to +72% vs the market, against −1% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +28.3%, 80% range +5.3% to +32.2%), but the matches cluster in only 6 distinct 12-month windows.
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
50 past situations · 50 companies · 36 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| TALBROAUTO Producer Manufacturing |
Dec 2022 | 16x | 18% | +46% | −10% | +107% |
| PDMJEPAPER Process Industries |
Dec 2022 | 13x | 16% | +31% | −10% | −15% |
| 20MICRONS Process Industries |
Nov 2023 | 16x | 19% | +97% | 0% | −2% |
| MMP Non-Energy Minerals |
Aug 2024 | 32x | 13% | +96% | −2% | −27% |
| SPAL Consumer Non-Durables |
May 2021 | 11x | 11% | +230% | −2% | +49% |
Show the other 3 matches
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, P/E and drawdown from 12-month high. 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.
Monthly history (70 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 12.9x | ₹741 cr | 17.1% | 17.0% | 0.4x |
| 2026-09 | 13.3x | ₹741 cr | 17.2% | 17.0% | 0.4x |
| 2026-08 | 16.3x | ₹717 cr | 14.9% | 17.0% | 0.4x |
| 2026-07 | 12.6x | ₹717 cr | 14.9% | 17.0% | 0.4x |
| 2026-06 | 11.8x | ₹717 cr | 14.9% | 17.0% | 0.4x |
| 2026-05 | 17.1x | ₹705 cr | 13.7% | 11.0% | 0.7x |
| 2026-04 | 18.0x | ₹705 cr | 13.7% | 11.0% | 0.7x |
| 2026-03 | 13.5x | ₹705 cr | 13.7% | 11.0% | 0.7x |
| 2026-02 | 16.6x | ₹674 cr | 12.2% | 11.0% | 0.7x |
| 2026-01 | 16.1x | ₹674 cr | 12.2% | 11.0% | 0.7x |
| 2025-12 | 16.6x | ₹674 cr | 12.2% | 11.0% | 0.7x |
| 2025-11 | 25.0x | ₹661 cr | 9.3% | 11.0% | 0.7x |
| 2025-10 | 26.0x | ₹661 cr | 9.3% | 11.0% | 0.7x |
| 2025-09 | 24.5x | ₹661 cr | 9.3% | 11.0% | 0.7x |
| 2025-08 | 40.1x | ₹613 cr | 5.9% | 11.0% | 0.7x |
| 2025-07 | 40.6x | ₹613 cr | 5.9% | 11.0% | 0.7x |
| 2025-06 | 42.2x | ₹613 cr | 5.9% | 11.0% | 0.7x |
| 2025-05 | 47.3x | ₹598 cr | 6.7% | 5.0% | 1.2x |
| 2025-04 | 22.5x | ₹598 cr | 6.7% | 5.0% | 1.2x |
| 2025-03 | 21.6x | ₹598 cr | 6.7% | 5.0% | 1.2x |
| 2025-02 | — | ₹561 cr | -1.7% | 5.0% | 1.2x |
| 2025-01 | — | ₹561 cr | -1.7% | 5.0% | 1.2x |
| 2024-12 | — | ₹561 cr | -1.7% | 5.0% | 1.2x |
| 2024-11 | — | ₹529 cr | -1.4% | 5.0% | 1.2x |
| 2024-10 | — | ₹529 cr | -1.4% | 5.0% | 1.2x |
| 2024-09 | — | ₹529 cr | -1.4% | 5.0% | 1.2x |
| 2024-08 | 322.7x | ₹497 cr | 0.4% | 5.0% | 1.2x |
| 2024-07 | 314.0x | ₹497 cr | 0.4% | 5.0% | 1.2x |
| 2024-06 | 279.7x | ₹497 cr | 0.4% | 5.0% | 1.2x |
| 2024-05 | 58.2x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2024-04 | 64.5x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2024-03 | 53.3x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2024-02 | 61.2x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2024-01 | 72.9x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-12 | 69.3x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-11 | 70.5x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-10 | 71.6x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-09 | 70.6x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-08 | 72.0x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-07 | 70.1x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-06 | 62.2x | ₹476 cr | 1.9% | 5.0% | 0.9x |
| 2023-05 | 7.8x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2023-04 | 7.7x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2023-03 | 6.8x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2023-02 | 6.9x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2023-01 | 8.3x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-12 | 7.6x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-11 | 7.6x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-10 | 8.8x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-09 | 9.0x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-08 | 9.8x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-07 | 10.1x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-06 | 10.3x | ₹624 cr | 14.5% | 15.0% | 1.0x |
| 2022-05 | 9.0x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2022-04 | 8.7x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2022-03 | 8.6x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2022-02 | 8.6x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2022-01 | 9.6x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-12 | 9.1x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-11 | 9.3x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-10 | 11.8x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-09 | 11.0x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-08 | 11.7x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-07 | 13.3x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-06 | 11.2x | ₹451 cr | 19.1% | 19.0% | 1.0x |
| 2021-05 | 70.2x | ₹314 cr | 3.9% | — | 0.8x |
| 2021-04 | 42.9x | ₹314 cr | 3.9% | — | 0.8x |
| 2021-03 | 42.0x | ₹314 cr | 3.9% | — | 0.8x |
| 2021-02 | 37.8x | ₹314 cr | 3.9% | — | 0.8x |
| 2021-01 | 34.7x | ₹314 cr | 3.9% | — | 0.8x |