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KIRLOSKAR BROTHERS LIMITED (KIRLOSBROS)

Producer Manufacturing · Industrial Machinery · 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.65 / 100
Profitability 55Growth 50Balance sheet 90
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.39 / 100
Price 23Earnings 21FII/DII 72

Passes these screensDebt-light & profitableLittle growth priced in

Compare withWELSPUN CORPVOLTASTHERMAX

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,635.7 latest close · −11.7% over the last 90 sessions

₹1,600₹1,800₹2,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,600₹1,800₹2,000Jul 3Sep 4Nov 9

₹1,635.7 month-end · −3.2% over 12 months

₹1,500₹1,750₹2,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,500₹1,750₹2,000Nov '25May '26Nov '26

₹1,635.7 month-end · +66.4% over 3 years

₹1,000₹1,500₹2,000₹2,500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,000₹1,500₹2,000₹2,500Nov '23May '25Nov '26

₹1,635.7 month-end · +1070.0% since Jan '19

₹0₹1,000₹2,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹1,000₹2,000Jan '19Dec '22Nov '26

52-week range ₹1335.00 to ₹2189.20 · 1-year volatility 40.6%

Was the rally earned?

-3%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-3%).
  • The share count barely moved.
Net profit growth: −12 pts. Points of the price return explained by net profit growing (or shrinking).−12 ptsNet profit growthP/E change: +8 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+8 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: −3%−3%Share priceNet profit growth: −12 pts. Points of the price return explained by net profit growing (or shrinking).−12ProfitP/E change: +8 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+8P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −3%−3%Share price
Net profit growth-12 ptsNet profit fell about 11%, which lowers the price.
P/E change+8 ptsThe P/E rose from 32.2x to 34.8x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+66%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 60 points to the rise, while the multiple moved less (P/E 33.2x to 34.8x).
  • The share count barely moved.
Net profit growth: +60 pts. Points of the price return explained by net profit growing (or shrinking).+60 ptsNet profit growthP/E change: +6 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+6 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: +66%+66%Share priceNet profit growth: +60 pts. Points of the price return explained by net profit growing (or shrinking).+60ProfitP/E change: +6 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+6P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +66%+66%Share price
Net profit growth+60 ptsNet profit rose about 58%, which lifts the price.
P/E change+6 ptsThe P/E rose from 33.2x to 34.8x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+367%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 200 points and the multiple added 167 points (P/E 17.3x to 34.8x).
  • The share count barely moved.
Net profit growth: +200 pts. Points of the price return explained by net profit growing (or shrinking).+200 ptsNet profit growthP/E change: +167 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+167 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: +367%+367%Share priceNet profit growth: +200 pts. Points of the price return explained by net profit growing (or shrinking).+200ProfitP/E change: +167 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+167P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +367%+367%Share price
Net profit growth+200 ptsNet profit rose about 132%, which lifts the price.
P/E change+167 ptsThe P/E rose from 17.3x to 34.8x, 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 WELSPUN CORP

How rough has the ride been?

Maximum drawdown-59.7%recovered 2021-03
1-year volatility40.6%annualised
Beta vs sector index1.193-year daily, correlation 0.50
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−54.0% 0%−20%−40%2020202220242026−54.0%
Largest drawdowns

-59.7% (2019-07 peak to 2020-03 low, recovered 2021-03)

-48.7% (2021-07 peak to 2022-05 low, recovered 2023-05)

-48.6% (2024-07 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-11-02: 54x the 50-day median, price +11.9% that day

2026-09-30: 8.4x the 50-day median, price -4.0% that day

2026-09-29: 12x the 50-day median, price +6.7% 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).

Is it expensive against its own past and its peers?

34.8xP/E todayWithin its usual range
Against its own history63rd percentile
CheapestMedian 31.7xDearest

Usual range 15.4x to 229.8x since 2019-01.

Against Producer Manufacturing34.8x vs 29.6x
This company
34.8x
Sector median
29.6x

18% above the Producer Manufacturing median.

10.6x146.2x281.8x417.5xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.6x146.2x281.8x417.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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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

  • ROCE69th▼ 16 pts vs a year ago
  • Op. margin41st▼ 6 pts vs a year ago
  • Revenue growth27th▼ 19 pts vs a year ago
  • EPS growth27th▼ 44 pts vs a year ago
  • Debt/equity ↓69thflat vs a year ago
  • Cash cycle ↓68th▲ 4 pts vs a year ago
  • P/E ↓40th▼ 12 pts vs a year ago
  • 12M momentum54th▲ 19 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?

~24%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 44.4x, a holder earning 12%/yr needs earnings to grow about 24.1%/yr for 10 years, then trade at 15x.

Delivered53.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−29.5 ptsimplied minus delivered
Rank818thmost demanding of 856

Over time

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

0%37%74% Jan 2019Nov 2026 0%37%74% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x25.6%26.7%27.9%
15x22.9%24.1%25.2%
20x19.6%20.7%21.7%

Drag a slider to test other assumptions

Implied: 24.1%/yr

Looking back

  • Jan 2020Price implied 28%/yr; EPS has since grown 100%/yr (7.0 yrs)
  • Jan 2021Price implied 25%/yr; EPS has since grown 32%/yr (6.0 yrs)
  • Jan 2022Price implied 24%/yr; EPS has since grown 19%/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
₹1635.70
P/E
34.8x
ROCE
20.0%
Market Cap
₹12988 cr
Revenue (TTM)
₹4664 cr
P/S
2.8x
P/B
5.3x
ROE
15.2%
Operating Margin
10.0%
Debt / Equity
0.1x
Promoter Holding
66.0%
12M Momentum
-3.2%

52-week range

₹1335.00₹2189.20
35% of the way from its 52-week low to its high

Price risk

1Y volatility
40.6%
Beta vs sector
1-year daily
1.03

Balance sheet & cash

Interest cover
operating profit ÷ interest
15.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.95x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 8.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 29.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.95xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.95x (cash from operations ₹1,090 cr, net profit ₹1,146 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+5 daysWithin range

Debtor days are above the median of the previous three fiscal years by 5 days (53 vs 48). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress8% of fixed assetsWithin range

Capital work-in-progress is 8% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+6 days / 2 yrsWithin range

Days payable changed by +6 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 2.9 pts; DIIs added 0.9 pts.
  • The number of shareholders rose from 41,238 to 64,065 (+55%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters66.0%66.0%0.0 pts
FIIs3.5%6.4%+2.9 pts
DIIs9.3%10.2%+0.9 pts
Public and others21.2%17.4%-3.8 pts

Number of shareholders

64,065shareholders+55% since Sep '23
40k51k62k72k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 41,238
Dec '23: 40,363
Mar '24: 43,058
Jun '24: 50,109
Sep '24: 70,037
Dec '24: 71,630
Mar '25: 72,077
Jun '25: 66,864
Sep '25: 68,236
Dec '25: 66,938
Mar '26: 66,266
Jun '26: 64,065
 40k51k62k72k Sep '23Sep '24Sep '25Jun '26
Sep '23: 41,238
Dec '23: 40,363
Mar '24: 43,058
Jun '24: 50,109
Sep '24: 70,037
Dec '24: 71,630
Mar '25: 72,077
Jun '25: 66,864
Sep '25: 68,236
Dec '25: 66,938
Mar '26: 66,266
Jun '26: 64,065

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

−1.3%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 KIRLOSKAR BROTHERS 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 −24% to +39% vs the market, against +1% for all non-financial companies in the same months.
  • The gap against the base rate (−2.3%, 80% range −14.7% to +5.5%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ZENSARTECH · Dec 2021: −60.6% vs market
FMGOETZE · Mar 2020: −51.5% vs market
PRAJIND · Mar 2025: −41.1% vs market
BAJAJELEC · Oct 2023: −38.7% vs market
DEEPAKNTR · Mar 2025: −33.3% vs market
MPHASIS · Jun 2022: −31.6% vs market
TTKPRESTIG · Sep 2022: −29.6% vs market
RSYSTEMS · Mar 2024: −28.7% vs market
MAYURUNIQ · Dec 2021: −27.7% vs market
XPROINDIA · Feb 2025: −26.8% vs market
BHARATRAS · Oct 2022: −26.5% vs market
JTEKTINDIA · Oct 2025: −25.4% vs market
CYIENT · Nov 2021: −24.3% vs market
GARFIBRES · Mar 2023: −23.1% vs market
AHLUCONT · Mar 2024: −22.6% vs market
VRLLOG · Feb 2020: −17.6% vs market
EXIDEIND · Jan 2020: −17.6% vs market
MASTEK · Mar 2024: −17.2% vs market
GODREJAGRO · May 2020: −15.5% vs market
TCI · Feb 2023: −14.6% vs market
BSOFT · Sep 2023: −14.2% vs market
JYOTHYLAB · Jan 2020: −11.9% vs market
CENTURYPLY · Jan 2022: −11.5% vs market
GALAXYSURF · May 2021: −9.7% vs market
JAMNAAUTO · Dec 2021: −2.1% vs market
CUMMINSIND · Apr 2021: −0.6% vs market
CARBORUNIV · Jan 2020: +1.6% vs market
SUPRAJIT · Jun 2022: +2.3% vs market
ADFFOODS · Apr 2023: +3.0% vs market
SUNDRMFAST · Oct 2021: +8.0% vs market
ESCORTS · Feb 2021: +17.6% vs market
THEJO · Oct 2025: +18.0% vs market
AEGISLOG · Mar 2020: +19.1% vs market
ENDURANCE · Jul 2020: +22.1% vs market
FINPIPE · Jul 2020: +22.7% vs market
RADICO · Feb 2022: +31.2% vs market
MIDHANI · Feb 2023: +38.1% vs market
CERA · Jul 2022: +39.6% vs market
RUPA · Apr 2021: +42.9% vs market
KSB · Jun 2021: +46.6% vs market
KEI · Jan 2022: +51.1% vs market
KAJARIACER · Apr 2020: +52.6% vs market
KIOCL · May 2023: +54.6% vs market
INGERRAND · Dec 2021: +58.2% vs market
TIINDIA · Dec 2020: +62.3% vs market
RATNAMANI · Nov 2022: +68.6% vs market
RHIM · Oct 2021: +81.0% vs market
ACE · Sep 2022: +115.6% vs market
HINDCOPPER · May 2023: +118.9% vs market
KPRMILL · Dec 2020: +183.3% vs market
Similar setups −1.3%All companies +1.0%← 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
−1.3%
All companies' median
+1.0%
Beat the market
48% vs 51%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
FMGOETZE
Producer Manufacturing		 Mar 2020 17x19% −43%−51% −52%
ZENSARTECH
Technology Services		 Dec 2021 38x21% +120%−10% −61%
CYIENT
Technology Services		 Nov 2021 31x15% +107%−18% −24%
PRAJIND
Industrial Services		 Mar 2025 38x29% +4%−34% −41%
VRLLOG
Transportation		 Feb 2020 23x21% −5%−25% −18%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BAJAJELEC
Consumer Durables		 Oct 2023 54x18% +30%−10% −39%
JAMNAAUTO
Producer Manufacturing		 Dec 2021 56x16% +68%−9% −2%
RADICO
Consumer Non-Durables		 Feb 2022 43x18% +57%−29% +31%
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 ROCE. 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 KIRLOSKAR BROTHERS 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.

KPR MILLKPRMILL
Consumer Non-Durables
61%similar
ROCEdebt/equity
FILATEX INDIAFILATEX
Process Industries
59%similar
debt/equitypromoter holding
KINGFA SCIENCE & TECH (I)KINGFA
Process Industries
59%similar
promoter holdingP/E
NBCC (INDIA)NBCC
Commercial Services
59%similar
market capP/E
GRAVITA INDIAGRAVITA
Non-Energy Minerals
58%similar
revenuemarket cap
ZF COMMERCIAL VEHICLE CONTROLZFCVINDIA
Producer Manufacturing
63%similar
EPS growthrevenue growth
BELRISE INDUSTRIESBELRISE
Producer Manufacturing
61%similar
promoter holdingP/E
SHARDA MOTOR INDUSTRIESSHARDAMOTR
Producer Manufacturing
61%similar
operating marginEPS growth

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

What changed?

30 events since May '23

  1. NovPriceVolume reached 54.0x its 50-day median on 2026-11-02; price +11.9% that day.
  2. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  3. SepPriceVolume reached 12.0x its 50-day median on 2026-09-29; price +6.7% that day.
  4. JunResultsRevenue (TTM) reached a new high of ₹4,538 cr.
  5. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  6. JunPriceVolume reached 50.3x its 50-day median on 2026-06-22; price +7.2% that day.
  7. MarPriceFell 49% from the Jul 2024 peak to the Mar 2026 low.
  8. MarPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
Show 22 earlier events
  1. MarPriceVolume reached 68.0x its 50-day median on 2026-03-06; price +10.2% that day.
  2. DecResultsYear-on-year EPS growth turned negative.
  3. DecPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  4. DecPriceVolume reached 5.8x its 50-day median on 2025-12-17; price -0.1% that day.
  5. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  6. JulPriceVolume reached 13.6x its 50-day median on 2025-07-04; price +4.0% that day.
  7. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
  8. JunPriceVolume reached 58.8x its 50-day median on 2025-06-25; price +16.3% that day.
  9. JanPriceVolume reached 18.9x its 50-day median on 2025-01-07; price +16.0% that day.
  10. DecPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  11. NovPriceVolume reached 11.7x its 50-day median on 2024-11-05; price +5.7% that day.
  12. SepPriceVolume reached 6.3x its 50-day median on 2024-09-30; price +6.0% that day.
  13. JunResultsRevenue (TTM) reached a new high of ₹4,001 cr.
  14. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  15. MayPriceVolume reached 13.5x its 50-day median on 2024-05-16; price +10.3% that day.
  16. MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  17. MarPriceVolume reached 36.4x its 50-day median on 2024-03-05; price +7.1% that day.
  18. AugPriceVolume reached 9.1x its 50-day median on 2023-08-01; price +9.5% that day.
  19. JunResultsYear-on-year EPS growth turned positive.
  20. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  21. MayPriceRegained the 2021-07 peak, 12 months after the low.
  22. MayPriceVolume reached 24.5x its 50-day median on 2023-05-12; price +3.6% 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

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1134.8x₹4664 cr15.2%20.0%0.1x
2026-1034.1x₹4664 cr15.3%20.0%0.1x
2026-0937.7x₹4664 cr15.3%20.0%0.1x
2026-0840.4x₹4538 cr15.3%20.0%0.1x
2026-0739.8x₹4538 cr15.3%20.0%0.1x
2026-0643.7x₹4538 cr15.3%20.0%0.1x
2026-0532.5x₹4404 cr19.3%28.0%0.1x
2026-0434.4x₹4404 cr19.3%28.0%0.1x
2026-0326.6x₹4404 cr19.3%28.0%0.1x
2026-0232.1x₹4432 cr18.9%28.0%0.1x
2026-0131.7x₹4432 cr18.9%28.0%0.1x
2025-1232.6x₹4432 cr18.9%28.0%0.1x
2025-1132.2x₹4440 cr20.1%28.0%0.1x
2025-1035.7x₹4440 cr20.1%28.0%0.1x
2025-0936.8x₹4440 cr20.1%28.0%0.1x
2025-0837.1x₹4492 cr20.0%28.0%0.1x
2025-0737.7x₹4492 cr20.0%28.0%0.1x
2025-0645.1x₹4492 cr20.0%28.0%0.1x
2025-0533.4x₹4435 cr25.2%27.0%0.1x
2025-0431.6x₹4435 cr25.2%27.0%0.1x
2025-0331.6x₹4435 cr25.2%27.0%0.1x
2025-0232.1x₹4256 cr23.2%27.0%0.1x
2025-0137.4x₹4256 cr23.2%27.0%0.1x
2024-1241.5x₹4256 cr23.2%27.0%0.1x
2024-1151.8x₹4133 cr20.5%27.0%0.1x
2024-1043.9x₹4133 cr20.5%27.0%0.1x
2024-0942.1x₹4133 cr20.5%27.0%0.1x
2024-0841.2x₹4001 cr20.4%27.0%0.1x
2024-0755.6x₹4001 cr20.4%27.0%0.1x
2024-0648.4x₹4001 cr20.4%27.0%0.1x
2024-0558.1x₹3730 cr16.8%22.0%0.2x
2024-0444.4x₹3730 cr16.8%22.0%0.2x
2024-0337.0x₹3730 cr16.8%22.0%0.2x
2024-0231.1x₹3730 cr16.8%22.0%0.2x
2024-0130.9x₹3730 cr16.8%22.0%0.2x
2023-1230.0x₹3730 cr16.8%22.0%0.2x
2023-1133.2x₹3730 cr16.8%22.0%0.2x
2023-1030.6x₹3730 cr16.8%22.0%0.2x
2023-0928.4x₹3730 cr16.8%22.0%0.2x
2023-0828.7x₹3730 cr16.8%22.0%0.2x
2023-0725.8x₹3730 cr16.8%22.0%0.2x
2023-0620.6x₹3730 cr16.8%22.0%0.2x
2023-0548.2x₹3058 cr8.0%11.0%0.3x
2023-0435.8x₹3058 cr8.0%11.0%0.3x
2023-0334.5x₹3058 cr8.0%11.0%0.3x
2023-0231.0x₹3058 cr8.0%11.0%0.3x
2023-0127.1x₹3058 cr8.0%11.0%0.3x
2022-1227.3x₹3058 cr8.0%11.0%0.3x
2022-1132.3x₹3058 cr8.0%11.0%0.3x
2022-1029.5x₹3058 cr8.0%11.0%0.3x
2022-0928.9x₹3058 cr8.0%11.0%0.3x
2022-0828.0x₹3058 cr8.0%11.0%0.3x
2022-0728.6x₹3058 cr8.0%11.0%0.3x
2022-0625.9x₹3058 cr8.0%11.0%0.3x
2022-0513.1x₹2717 cr14.6%15.0%0.3x
2022-0416.0x₹2717 cr14.6%15.0%0.3x
2022-0314.0x₹2717 cr14.6%15.0%0.3x
2022-0215.0x₹2717 cr14.6%15.0%0.3x
2022-0117.6x₹2717 cr14.6%15.0%0.3x
2021-1216.5x₹2717 cr14.6%15.0%0.3x

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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