Share price
₹504.05 latest close · +32.1% over the last 90 sessions
₹504.05 month-end · −14.3% over 12 months
₹504.05 month-end · +70.2% over 3 years
₹504.05 month-end · +23.9% since Jan '19
52-week range ₹333.80 to ₹779.00 · 1-year volatility 50.8%
Was the rally earned?
Earnings helped, the multiple did not.
- Per-share earnings added 311 points, but investors now pay less per rupee of profit (P/E 18.8x to 0.6x), which took 325 points back.
- The share count rose 12%.
Mostly yes, with a catch.
- Per-share earnings added 509 points, but investors now pay less per rupee of profit (P/E 15.6x to 0.6x), which took 438 points back.
- The share count rose 16%.
Mostly yes, with a catch.
- Per-share earnings added 272 points, but investors now pay less per rupee of profit (P/E 6.4x to 0.6x), which took 259 points back.
- The share count rose 80%.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-68.1% (2019-04 peak to 2020-03 low, recovered 2021-06)
-60.0% (2021-06 peak to 2023-02 low, recovered 2024-12)
-53.4% (2025-05 peak to 2026-03 low, not yet recovered)
Most recent volume spikes
2026-09-09: 9.7x the 50-day median, price -6.4% that day
2026-09-08: 11x the 50-day median, price +0.8% that day
2026-09-07: 19.9x the 50-day median, price +4.3% 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 Process Industries peers?
Each cell is the company's percentile rank among its Process Industries 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
- ROCE15th▼ 30 pts vs a year ago
- Op. margin22nd▲ 17 pts vs a year ago
- Revenue growth83rd▲ 72 pts vs a year ago
- EPS growth12th▼ 84 pts vs a year ago
- Debt/equity ↓92nd▲ 39 pts vs a year ago
- Cash cycle ↓98th▲ 7 pts vs a year ago
- P/E ↓47th▼ 42 pts vs a year ago
- 12M momentum42nd▼ 38 pts vs a year ago
Rank history
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 Process Industries sector page Watch it move against Process Industries in the Observatory
Key figures
- Share Priceclose 9 Nov
- ₹504.05
- ROCE
- 3.0%
- Market Cap
- ₹3285 cr
- Revenue (TTM)
- ₹949 cr
- ROE
- 98.3%
- Operating Margin
- 5.0%
- Debt / Equity
- 0.0x
- Promoter Holding
- 41.7%
- 12M Momentum
- -14.3%
52-week range
Price risk
Balance sheet & cash
Per-share figures around a recent split, bonus issue or demerger may not yet be consistent.
Are profits backed by cash?
Other income reliance106%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 106.3%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate-1%Beyond threshold
Median quarterly effective tax rate over about 2.5 years: -1.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion0.70xNear threshold
Operating cash flow divided by net profit over the last three fiscal years: 0.70x (cash from operations ₹4,152 cr, net profit ₹5,965 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-36 daysWithin range
Debtor days are below the median of the previous three fiscal years by 36 days (45 vs 81). 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-5 days / 2 yrsWithin range
Days payable changed by -5 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.
Who has been buying and selling?
- Over 2 years, FIIs trimmed 29.0 pts; promoters added 15.0 pts; DIIs added 0.7 pts.
- The number of shareholders rose from 30,285 to 40,252 (+33%) 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.
What happened next to similar setups
Not enough comparable history to show analogs for this company yet.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Jan '24
- SepPromoterPromoter holding rose 5.0 pts to 41.7% (largest rise since 2025-12).
- SepPriceVolume reached 39.4x its 50-day median on 2026-09-03; price +10.6% that day.
- JulSharesShare count is up 7.1% over 12 months.
- JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- JunDebtDebt / equity halved over 12 months to 0.01x.
- JunPriceVolume reached 6.4x its 50-day median on 2026-06-08; price +2.0% that day.
- MarPriceFell 53% from the May 2025 peak to the Mar 2026 low.
- JanPriceVolume reached 90.7x its 50-day median on 2026-01-01; price -5.9% that day.
Show 22 earlier events
- DecPromoterPromoter holding rose 5.0 pts to 36.7% (largest rise since 2025-03).
- DecInstitutionsFII + DII holding fell 4.0 pts over 2 quarters to 23.1%.
- DecPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
- DecPriceVolume reached 37.8x its 50-day median on 2025-12-31; price +18.3% that day.
- SepResultsYear-on-year EPS growth turned negative.
- SepValuationP/E crossed above the 90th percentile of its own history to date (16.4x).
- SepPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the top quartile).
- SepPriceVolume reached 5.8x its 50-day median on 2025-09-16; price +4.2% that day.
- JunSharesShare count is up 7.7% over 12 months.
- MayPriceVolume reached 11.9x its 50-day median on 2025-05-20; price +3.1% that day.
- MarPromoterPromoter holding rose 5.0 pts to 31.7%.
- MarInstitutionsFII + DII holding fell 12.9 pts over 2 quarters to 27.2%.
- JanPriceVolume reached 6.9x its 50-day median on 2025-01-31; price +8.1% that day.
- DecPriceRegained the 2021-06 peak, 22 months after the low.
- NovPriceVolume reached 12.2x its 50-day median on 2024-11-18; price +10.4% that day.
- AugValuationP/E crossed above the 90th percentile of its own history to date (14.2x).
- JulPriceVolume reached 15.0x its 50-day median on 2024-07-08; price +8.6% that day.
- JunResultsYear-on-year EPS growth turned positive.
- JunInstitutionsFII + DII holding fell 21.2 pts over 1 quarter to 25.1%.
- JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
- MayPriceVolume reached 11.7x its 50-day median on 2024-05-17; price +19.6% that day.
- JanPriceVolume reached 31.3x its 50-day median on 2024-01-12; price +1.0% 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 history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | — | ₹949 cr | 98.3% | 3.0% | 0.0x |
| 2026-10 | — | ₹949 cr | 98.3% | 3.0% | 0.0x |
| 2026-09 | — | ₹949 cr | 98.3% | 3.0% | 0.0x |
| 2026-08 | — | ₹839 cr | 93.5% | 3.0% | 0.0x |
| 2026-07 | — | ₹839 cr | 93.5% | 3.0% | 0.0x |
| 2026-06 | — | ₹839 cr | 93.5% | 3.0% | 0.0x |
| 2026-05 | — | ₹794 cr | 165.4% | 10.0% | 0.3x |
| 2026-04 | — | ₹794 cr | 165.4% | 10.0% | 0.3x |
| 2026-03 | — | ₹794 cr | 165.4% | 10.0% | 0.3x |
| 2026-02 | 20.9x | ₹799 cr | 4.1% | 10.0% | 0.3x |
| 2026-01 | 21.4x | ₹799 cr | 4.1% | 10.0% | 0.3x |
| 2025-12 | 33.5x | ₹799 cr | 4.1% | 10.0% | 0.3x |
| 2025-11 | 17.3x | ₹759 cr | 6.1% | 10.0% | 0.3x |
| 2025-10 | 15.8x | ₹759 cr | 6.1% | 10.0% | 0.3x |
| 2025-09 | 16.4x | ₹759 cr | 6.1% | 10.0% | 0.3x |
| 2025-08 | 10.6x | ₹740 cr | 8.8% | 10.0% | 0.3x |
| 2025-07 | 11.0x | ₹740 cr | 8.8% | 10.0% | 0.3x |
| 2025-06 | 11.5x | ₹740 cr | 8.8% | 10.0% | 0.3x |
| 2025-05 | 10.2x | ₹804 cr | 13.0% | 6.0% | 0.0x |
| 2025-04 | 9.2x | ₹804 cr | 13.0% | 6.0% | 0.0x |
| 2025-03 | 9.9x | ₹804 cr | 13.0% | 6.0% | 0.0x |
| 2025-02 | 9.2x | ₹785 cr | 11.4% | 6.0% | 0.0x |
| 2025-01 | 11.0x | ₹785 cr | 11.4% | 6.0% | 0.0x |
| 2024-12 | 10.8x | ₹785 cr | 11.4% | 6.0% | 0.0x |
| 2024-11 | 12.4x | ₹843 cr | 9.1% | 6.0% | 0.0x |
| 2024-10 | 8.6x | ₹843 cr | 9.1% | 6.0% | 0.0x |
| 2024-09 | 7.4x | ₹843 cr | 9.1% | 6.0% | 0.0x |
| 2024-08 | 14.2x | ₹887 cr | 5.4% | 6.0% | 0.0x |
| 2024-07 | 12.9x | ₹887 cr | 5.4% | 6.0% | 0.0x |
| 2024-06 | 11.9x | ₹887 cr | 5.4% | 6.0% | 0.0x |
| 2024-05 | 14.8x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2024-04 | 17.6x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2024-03 | 14.7x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2024-02 | 18.7x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2024-01 | 20.0x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-12 | 19.3x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-11 | 14.4x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-10 | 13.2x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-09 | 13.2x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-08 | 13.5x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-07 | 13.8x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-06 | 13.5x | ₹945 cr | 4.3% | 5.0% | 0.0x |
| 2023-05 | 3.9x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2023-04 | 4.0x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2023-03 | 3.8x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2023-02 | 3.7x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2023-01 | 3.8x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-12 | 6.3x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-11 | 6.6x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-10 | 7.0x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-09 | 6.7x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-08 | 6.5x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-07 | 6.4x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-06 | 6.2x | ₹1497 cr | 16.3% | 16.0% | 0.0x |
| 2022-05 | 5.8x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2022-04 | 6.6x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2022-03 | 6.5x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2022-02 | 6.2x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2022-01 | 6.6x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-12 | 6.5x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-11 | 6.0x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-10 | 6.4x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-09 | 6.8x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-08 | 6.6x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-07 | 7.7x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-06 | 7.9x | ₹957 cr | 12.5% | 12.0% | 0.1x |
| 2021-05 | 4.2x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2021-04 | 4.0x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2021-03 | 3.7x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2021-02 | 4.1x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2021-01 | 4.2x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-12 | 4.8x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-11 | 4.6x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-10 | 4.0x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-09 | 4.5x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-08 | 4.9x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-07 | 4.4x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-06 | 3.7x | ₹1305 cr | 21.1% | 21.0% | 0.1x |
| 2020-05 | 6.0x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2020-04 | 5.6x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2020-03 | 5.2x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2020-02 | 7.3x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2020-01 | 7.3x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-12 | 7.7x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-11 | 7.0x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-10 | 7.9x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-09 | 7.9x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-08 | 7.4x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-07 | 9.3x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-06 | 9.8x | ₹1394 cr | 11.3% | 12.0% | 0.1x |
| 2019-05 | 4.6x | ₹1117 cr | 28.2% | 27.0% | 0.1x |
| 2019-04 | 4.6x | ₹1117 cr | 28.2% | 27.0% | 0.1x |
| 2019-03 | 4.2x | ₹1117 cr | 28.2% | 27.0% | 0.1x |
| 2019-02 | 3.2x | ₹1117 cr | 28.2% | 27.0% | 0.1x |
| 2019-01 | 3.4x | ₹1117 cr | 28.2% | 27.0% | 0.1x |