KIRLOSKAR INDUSTRIES LTD (KIRLOSIND): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹3,506.2 latest close · −14.5% over the last 90 sessions

₹3,506.2 month-end · −0.1% over 12 months

₹3,506.2 month-end · +0.7% over 3 years

₹3,506.2 month-end · +314.1% since Jan '19

52-week range ₹2463.00 to ₹4574.80 · 1-year volatility 41.7%

Was the rally earned?

-0%share price, 1 yearRoughly flat

The share price was roughly flat over 1 year (-0%).
The share count fell 5%.

Net profit growth-30 ptsNet profit growth over the period.

P/E change+26 ptsThe P/E rose from 10.2x to 13.2x, which lifts the price.

Share count change+5 ptsShare count fell 5%, which lifts 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.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

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

Compare this with JSW STEEL

How rough has the ride been?

Maximum drawdown-61.8%not yet recovered

1-year volatility41.7%annualised

Beta vs sector index0.823-year daily, correlation 0.42

Volume spikes4last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-61.8% (2024-05 peak to 2026-03 low, not yet recovered)

-53.0% (2019-01 peak to 2020-03 low, recovered 2021-02)

-36.4% (2021-06 peak to 2022-06 low, recovered 2022-11)

Most recent volume spikes

2026-11-06: 8.5x the 50-day median, price +0.4% that day

2026-09-15: 7.3x the 50-day median, price +0.1% that day

2026-09-11: 125.6x the 50-day median, price +7.0% 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?

13.2xP/E todayWithin its usual range

Against its own history62nd percentile

CheapestMedian 10.0xDearest

Usual range 6.9x to 24.7x since 2019-01.

Against Non-Energy Minerals13.2x vs 21.8x

This company

13.2x

Sector median

21.8x

40% below the Non-Energy Minerals median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

ROCE33rd▲ 4 pts vs a year ago
Op. margin58thflat vs a year ago
Revenue growth31st▼ 28 pts vs a year ago
EPS growth20th▼ 73 pts vs a year ago
Debt/equity ↓68th▲ 4 pts vs a year ago
Cash cycle ↓71st▲ 10 pts vs a year ago
P/E ↓77th▼ 9 pts vs a year ago
12M momentum64th▲ 39 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~9%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 12.0x, a holder earning 12%/yr needs earnings to grow about 9.0%/yr for 10 years, then trade at 15x.

Delivered19.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−10.7 ptsimplied minus delivered

Rank708thmost 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	10.4%	11.4%	12.4%
15x	8.1%	9.0%	10.0%
20x	5.1%	6.0%	7.0%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 9.0%/yr

Looking back

Jan 2020Price implied 5%/yr; EPS has since grown 19%/yr (7.0 yrs)
Jan 2021Price implied 7%/yr; EPS has since grown 20%/yr (6.0 yrs)
Jan 2022Price implied 12%/yr; EPS has since grown 8%/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 Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹3506.20
P/E: 13.2x
ROCE: 7.0%
Market Cap: ₹3687 cr
Revenue (TTM): ₹6995 cr
P/S: 0.5x
P/B: 0.6x
ROE: 4.5%
Operating Margin: 12.0%
Debt / Equity: 0.2x
Promoter Holding: 71.9%
12M Momentum: -0.1%

52-week range

₹2463.00₹4574.80

49% of the way from its 52-week low to its high

Price risk

1Y volatility

41.7%

Beta vs sector

1-year daily

0.83

Balance sheet & cash

Interest cover

operating profit ÷ interest

5.1x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.75x

Share count, 1Y

+10.0%

Are profits backed by cash?

7 of 7checks within rangeAll clear

Other income reliance7%Within range

Other income as a share of pre-tax profit (trailing twelve months): 6.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate32%Within range

Median quarterly effective tax rate over about 2.5 years: 31.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.75xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.75x (cash from operations ₹2,047 cr, net profit ₹1,172 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. 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 (57 vs 52). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress21% of fixed assetsWithin range

Capital work-in-progress is 21% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+17 days / 2 yrsWithin range

Days payable changed by +17 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, institutional and promoter holdings were broadly unchanged.
The number of shareholders rose from 16,943 to 22,719 (+34%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters71.8%71.9%+0.1 pts

FIIs0.7%0.5%-0.2 pts

DIIs1.9%1.9%0.0 pts

Public and others25.6%25.8%+0.1 pts

Number of shareholders

22,719shareholders+34% since Sep '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

−4.0%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 INDUSTRIES LTD 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 −23% to +37% vs the market, against −8% for all non-financial companies in the same months.
The gap against the base rate (+4.4%, 80% range −4.7% to +14.2%) 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median

−4.0%

All companies' median

−8.4%

Beat the market

48% vs 41%

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

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
JKPAPER Process Industries	Aug 2025	16x	9%	−18%	−27%	−2%
POLYPLEX Process Industries	Jan 2025	23x	2%	+12%	−23%	−30%
SUNFLAG Non-Energy Minerals	Dec 2024	31x	6%	+20%	−12%	+2%
IGPL Process Industries	Mar 2025	13x	5%	−1%	−40%	−20%
DALMIASUG Process Industries	May 2025	13x	10%	+16%	−24%	−23%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
GHCLTEXTIL Process Industries	Dec 2024	20x	6%	+44%	−15%	−30%
WABAG Industrial Services	Jan 2023	15x	13%	+1%	−14%	+53%
TIMETECHNO Process Industries	Nov 2021	16x	9%	+62%	−19%	+21%

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: operating margin, 12-month momentum 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.

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 INDUSTRIES LTD. 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.

GUJARAT AMBUJA EXPORTSGAEL

Consumer Non-Durables

68%similar

revenueEPS growth

NILKAMALNILKAMAL

Consumer Durables

64%similar

market capdebt/equity

GALAXY SURFACTANTSGALAXYSURF

Consumer Non-Durables

59%similar

promoter holdingrevenue

SHEELA FOAMSFL

Process Industries

58%similar

ROCEoperating margin

VARDHMAN TEXTILES LIMTEDVTL

Process Industries

58%similar

debt/equityrevenue

MAITHAN ALLOYSMAITHANALL

Non-Energy Minerals

55%similar

ROCEP/E

JINDAL SAWJINDALSAW

Non-Energy Minerals

54%similar

revenue growthEPS growth

SURYA ROSHNISURYAROSNI

Non-Energy Minerals

53%similar

revenueP/E

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

What changed?

30 events since May '23

2026
NovPriceVolume reached 8.5x its 50-day median on 2026-11-06; price +0.4% that day.
SepResultsYear-on-year EPS growth turned negative.
SepPeer rankSlipped to the bottom quartile of Non-Energy Minerals on EPS growth (from the top quartile).
SepPriceVolume reached 125.6x its 50-day median on 2026-09-11; price +7.0% that day.
JunSharesShare count is up 10.0% over 12 months.
JunPriceVolume reached 88.9x its 50-day median on 2026-06-22; price +15.0% that day.
MarPriceFell 62% from the May 2024 peak to the Mar 2026 low.
2025
NovPriceVolume reached 14.6x its 50-day median on 2025-11-14; price +1.1% that day.

Show 22 earlier events

2025
SepResultsYear-on-year EPS growth turned positive.
SepPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
JulPriceVolume reached 5.2x its 50-day median on 2025-07-15; price +8.0% that day.
JunValuationP/E crossed above the 90th percentile of its own history to date (29.7x).
MayPriceVolume reached 18.9x its 50-day median on 2025-05-19; price +10.2% that day.
FebPriceVolume reached 7.4x its 50-day median on 2025-02-10; price -2.0% that day.
2024
DecResultsRevenue (TTM) reached a new high of ₹6,530 cr.
DecPeer rankMoved into the 2nd quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
NovPriceVolume reached 5.7x its 50-day median on 2024-11-14; price -4.1% that day.
SepPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
AugPeer rankSlipped to the bottom quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
AugPriceVolume reached 11.5x its 50-day median on 2024-08-14; price +8.0% that day.
JunResultsYear-on-year EPS growth turned negative.
JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
AprPriceVolume reached 26.2x its 50-day median on 2024-04-26; price +12.8% that day.
JanPriceVolume reached 13.5x its 50-day median on 2024-01-09; price +8.3% that day.
2023
NovValuationP/E crossed above the 90th percentile of its own history to date (15.8x).
NovPriceVolume reached 26.0x its 50-day median on 2023-11-24; price +5.2% that day.
JunResultsRevenue (TTM) reached a new high of ₹6,490 cr.
JunValuationP/E crossed above the 90th percentile of its own history to date (15.1x).
JunPeer rankMoved into the 2nd quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
MayPriceVolume reached 19.2x its 50-day median on 2023-05-23; price +8.2% 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	13.2x	₹6995 cr	4.5%	7.0%	0.2x
2026-10	11.8x	₹6995 cr	4.5%	7.0%	0.2x
2026-09	13.4x	₹6995 cr	4.5%	7.0%	0.2x
2026-08	9.0x	₹6921 cr	6.5%	7.0%	0.2x
2026-07	9.5x	₹6921 cr	6.5%	7.0%	0.2x
2026-06	9.4x	₹6921 cr	6.5%	7.0%	0.2x
2026-05	9.2x	₹6852 cr	6.0%	7.0%	0.2x
2026-04	9.5x	₹6852 cr	6.0%	7.0%	0.2x
2026-03	7.2x	₹6852 cr	6.0%	7.0%	0.2x
2026-02	8.2x	₹6842 cr	6.1%	7.0%	0.2x
2026-01	9.1x	₹6842 cr	6.1%	7.0%	0.2x
2025-12	9.2x	₹6842 cr	6.1%	7.0%	0.2x
2025-11	10.2x	₹6748 cr	6.0%	7.0%	0.2x
2025-10	11.0x	₹6748 cr	6.0%	7.0%	0.2x
2025-09	11.4x	₹6748 cr	6.0%	7.0%	0.2x
2025-08	25.5x	₹6609 cr	3.9%	7.0%	0.2x
2025-07	29.8x	₹6609 cr	3.9%	7.0%	0.2x
2025-06	29.7x	₹6609 cr	3.9%	7.0%	0.2x
2025-05	23.1x	₹6590 cr	4.5%	11.0%	0.2x
2025-04	18.7x	₹6590 cr	4.5%	11.0%	0.2x
2025-03	19.4x	₹6590 cr	4.5%	11.0%	0.2x
2025-02	17.1x	₹6530 cr	5.3%	11.0%	0.2x
2025-01	20.5x	₹6530 cr	5.3%	11.0%	0.2x
2024-12	23.4x	₹6530 cr	5.3%	11.0%	0.2x
2024-11	25.6x	₹6420 cr	5.3%	11.0%	0.2x
2024-10	25.6x	₹6420 cr	5.3%	11.0%	0.2x
2024-09	29.0x	₹6420 cr	5.3%	11.0%	0.2x
2024-08	28.5x	₹6369 cr	5.7%	11.0%	0.2x
2024-07	30.4x	₹6369 cr	5.7%	11.0%	0.2x
2024-06	30.0x	₹6369 cr	5.7%	11.0%	0.2x
2024-05	27.8x	₹6490 cr	11.2%	13.0%	0.3x
2024-04	23.5x	₹6490 cr	11.2%	13.0%	0.3x
2024-03	18.7x	₹6490 cr	11.2%	13.0%	0.3x
2024-02	18.9x	₹6490 cr	11.2%	13.0%	0.3x
2024-01	18.8x	₹6490 cr	11.2%	13.0%	0.3x
2023-12	16.0x	₹6490 cr	11.2%	13.0%	0.3x
2023-11	15.8x	₹6490 cr	11.2%	13.0%	0.3x
2023-10	14.0x	₹6490 cr	11.2%	13.0%	0.3x
2023-09	14.8x	₹6490 cr	11.2%	13.0%	0.3x
2023-08	16.4x	₹6490 cr	11.2%	13.0%	0.3x
2023-07	15.6x	₹6490 cr	11.2%	13.0%	0.3x
2023-06	15.1x	₹6490 cr	11.2%	13.0%	0.3x
2023-05	13.2x	₹3810 cr	10.7%	15.0%	0.5x
2023-04	13.0x	₹3810 cr	10.7%	15.0%	0.5x
2023-03	12.3x	₹3810 cr	10.7%	15.0%	0.5x
2023-02	11.5x	₹3810 cr	10.7%	15.0%	0.5x
2023-01	9.8x	₹3810 cr	10.7%	15.0%	0.5x
2022-12	9.7x	₹3810 cr	10.7%	15.0%	0.5x
2022-11	10.0x	₹3810 cr	10.7%	15.0%	0.5x
2022-10	8.9x	₹3810 cr	10.7%	15.0%	0.5x
2022-09	8.7x	₹3810 cr	10.7%	15.0%	0.5x
2022-08	7.9x	₹3810 cr	10.7%	15.0%	0.5x
2022-07	7.0x	₹3810 cr	10.7%	15.0%	0.5x
2022-06	6.6x	₹3810 cr	10.7%	15.0%	0.5x
2022-05	8.1x	₹2080 cr	14.1%	19.0%	0.2x
2022-04	9.1x	₹2080 cr	14.1%	19.0%	0.2x
2022-03	9.2x	₹2080 cr	14.1%	19.0%	0.2x
2022-02	8.3x	₹2080 cr	14.1%	19.0%	0.2x
2022-01	8.7x	₹2080 cr	14.1%	19.0%	0.2x
2021-12	8.9x	₹2080 cr	14.1%	19.0%	0.2x
2021-11	8.6x	₹2080 cr	14.1%	19.0%	0.2x
2021-10	9.0x	₹2080 cr	14.1%	19.0%	0.2x
2021-09	10.0x	₹2080 cr	14.1%	19.0%	0.2x
2021-08	8.6x	₹2080 cr	14.1%	19.0%	0.2x
2021-07	10.0x	₹2080 cr	14.1%	19.0%	0.2x
2021-06	10.2x	₹2080 cr	14.1%	19.0%	0.2x
2021-05	16.5x	₹1916 cr	11.5%	12.0%	0.3x
2021-04	13.2x	₹1916 cr	11.5%	12.0%	0.3x
2021-03	12.5x	₹1916 cr	11.5%	12.0%	0.3x
2021-02	12.5x	₹1916 cr	11.5%	12.0%	0.3x
2021-01	8.5x	₹1916 cr	11.5%	12.0%	0.3x
2020-12	8.2x	₹1916 cr	11.5%	12.0%	0.3x
2020-11	7.2x	₹1916 cr	11.5%	12.0%	0.3x
2020-10	6.1x	₹1916 cr	11.5%	12.0%	0.3x
2020-09	6.7x	₹1916 cr	11.5%	12.0%	0.3x
2020-08	6.3x	₹1916 cr	11.5%	12.0%	0.3x
2020-07	6.2x	₹1916 cr	11.5%	12.0%	0.3x
2020-06	6.7x	₹1916 cr	11.5%	12.0%	0.3x
2020-05	5.7x	₹2222 cr	7.6%	10.0%	0.1x
2020-04	6.1x	₹2222 cr	7.6%	10.0%	0.1x
2020-03	5.2x	₹2222 cr	7.6%	10.0%	0.1x
2020-02	6.9x	₹2222 cr	7.6%	10.0%	0.1x
2020-01	7.4x	₹2222 cr	7.6%	10.0%	0.1x
2019-12	7.0x	₹2222 cr	7.6%	10.0%	0.1x
2019-11	7.3x	₹2222 cr	7.6%	10.0%	0.1x
2019-10	7.5x	₹2222 cr	7.6%	10.0%	0.1x
2019-09	7.8x	₹2222 cr	7.6%	10.0%	0.1x
2019-08	7.8x	₹2222 cr	7.6%	10.0%	0.1x
2019-07	8.6x	₹2222 cr	7.6%	10.0%	0.1x
2019-06	8.9x	₹2222 cr	7.6%	10.0%	0.1x
2019-05	16.0x	₹1826 cr	3.0%	6.0%	0.0x
2019-04	15.3x	₹1826 cr	3.0%	6.0%	0.0x
2019-03	15.1x	₹1826 cr	3.0%	6.0%	0.0x
2019-02	14.9x	₹1826 cr	3.0%	6.0%	0.0x
2019-01	16.6x	₹1826 cr	3.0%	6.0%	0.0x

Methodology and data notes