Share price
₹31.76 latest close · +21.3% over the last 90 sessions
₹31.76 month-end · +16.5% over 12 months
₹31.76 month-end · −4.8% over 3 years
₹31.76 month-end · +307.2% since Jan '19
52-week range ₹23.00 to ₹36.50 · 1-year volatility 44.7%
Was the rally earned?
Mostly yes.
- Per-share earnings added 16 points to the rise, while the multiple moved less (P/E 6.0x to 6.1x).
- The share count barely moved.
- The share price was roughly flat over 3 years (-5%).
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 71 points, but investors now pay less per rupee of profit (P/E 8.3x to 6.1x), which took 36 points back.
- The share count barely moved.
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
-51.3% (2024-06 peak to 2026-02 low, not yet recovered)
-46.6% (2020-01 peak to 2020-03 low, recovered 2020-08)
-44.3% (2022-04 peak to 2023-03 low, recovered 2024-04)
Is it expensive against its own past and its peers?
Usual range 2.9x to 13.2x since 2019-01.
66% below the Process Industries median.
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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.
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
- ROCE59th▲ 8 pts vs a year ago
- Op. margin35th▼ 31 pts vs a year ago
- Revenue growth9th▼ 69 pts vs a year ago
- EPS growth58th▼ 29 pts vs a year ago
- Debt/equity ↓32nd▲ 8 pts vs a year ago
- Cash cycle ↓13thflat vs a year ago
- P/E ↓93rdflat vs a year ago
- 12M momentum76th▲ 22 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
What is the price implying?
At a P/E of 8.1x, the price would imply about 5.3%/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 Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹31.76
- P/E
- 6.1x
- ROCE
- 13.0%
- Market Cap
- ₹292 cr
- Revenue (TTM)
- ₹640 cr
- P/S
- 0.5x
- P/B
- 0.7x
- ROE
- 12.3%
- Operating Margin
- 8.3%
- Debt / Equity
- 0.6x
- Promoter Holding
- 56.5%
- 12M Momentum
- 16.5%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance33%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 32.7%. 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 conversion1.27xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.27x (cash from operations ₹149 cr, net profit ₹117 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+2 daysWithin range
Debtor days are above the median of the previous three fiscal years by 2 days (7 vs 5). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress6% of fixed assetsWithin range
Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days-55 days / 2 yrsWithin range
Days payable changed by -55 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 3 years, FIIs trimmed 0.7 pts.
- The number of shareholders rose from 45,880 to 52,039 (+13%) between Sep 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
- We found 50 past situations where a non-financial company looked like K M SUGAR MILLS 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 −27% to +47% vs the market, against −3% for all non-financial companies in the same months.
- The gap against the base rate (+6.7%, 80% range −8.7% to +21.6%) 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 · 4 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 35 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| INDIAGLYCO Process Industries |
Aug 2021 | 5x | 10% | +145% | −6% | +18% |
| ORIENTPPR Process Industries |
Apr 2023 | 6x | 22% | +34% | −4% | −18% |
| SUPERHOUSE Consumer Non-Durables |
Aug 2020 | 4x | 8% | +33% | −13% | +9% |
| NITINSPIN Process Industries |
Jan 2024 | 12x | 12% | +77% | −2% | +6% |
| NRAIL Process Industries |
Jun 2024 | 7x | 14% | +70% | −2% | −28% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SPIC Process Industries |
Jun 2020 | 6x | 13% | −9% | −13% | +47% |
| NAHARINDUS Process Industries |
Sep 2023 | 8x | 8% | +30% | −3% | −29% |
| PRAKASH Non-Energy Minerals |
Jul 2023 | 4x | — | +74% | 0% | +44% |
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: ROCE, P/S and 12-month momentum. 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.
What changed?
30 events since Jun '21
- SepPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the top quartile).
- JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
- FebPriceFell 51% from the Jun 2024 peak to the Feb 2026 low.
- FebPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the 2nd quartile).
- SepPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
- JunResultsRevenue (TTM) reached a new high of ₹659 cr.
- JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
- MarResultsYear-on-year EPS growth turned positive.
Show 22 earlier events
- MarPeer rankMoved into the top quartile of Process Industries on operating margin (from the 3rd quartile).
- DecPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
- SepResultsYear-on-year EPS growth turned negative.
- SepPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
- JunResultsYear-on-year EPS growth turned positive.
- JunPriceRegained the 2024-04 peak, 0 months after the low.
- JunPriceFell 26% from the Apr 2024 peak to the Jun 2024 low.
- JunPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 3rd quartile).
- AprPriceRegained the 2022-04 peak, 13 months after the low.
- AprValuationP/E crossed above the 90th percentile of its own history to date (16.3x).
- JunResultsYear-on-year EPS growth turned negative.
- JunValuationP/E crossed above the 90th percentile of its own history to date (10.6x).
- JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
- JunDividendDividend payout cut from 4% to 0% of profit.
- MarPriceFell 44% from the Apr 2022 peak to the Mar 2023 low.
- JunResultsRevenue (TTM) reached a new high of ₹548 cr.
- JunDividendStarted paying a dividend (payout 4% of profit).
- AprPriceRegained the 2021-07 peak, 5 months after the low.
- DecValuationP/E crossed above the 90th percentile of its own history to date (9.5x).
- NovPriceFell 37% from the Jul 2021 peak to the Nov 2021 low.
- JulPriceRegained the 2021-06 peak, 1 month after the low.
- JunResultsYear-on-year EPS growth turned positive.
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 | 6.1x | ₹640 cr | 12.3% | 13.0% | 0.6x |
| 2026-10 | 5.8x | ₹640 cr | 12.3% | 13.0% | 0.6x |
| 2026-09 | 6.4x | ₹640 cr | 12.3% | 13.0% | 0.6x |
| 2026-08 | 5.6x | ₹658 cr | 13.7% | 13.0% | 0.6x |
| 2026-07 | 4.8x | ₹658 cr | 13.7% | 13.0% | 0.6x |
| 2026-06 | 4.5x | ₹658 cr | 13.7% | 13.0% | 0.6x |
| 2026-05 | 4.5x | ₹706 cr | 16.3% | 11.0% | 0.8x |
| 2026-04 | 5.1x | ₹706 cr | 16.3% | 11.0% | 0.8x |
| 2026-03 | 4.2x | ₹706 cr | 16.3% | 11.0% | 0.8x |
| 2026-02 | 4.8x | ₹702 cr | 14.0% | 11.0% | 0.8x |
| 2026-01 | 4.7x | ₹702 cr | 14.0% | 11.0% | 0.8x |
| 2025-12 | 5.3x | ₹702 cr | 14.0% | 11.0% | 0.8x |
| 2025-11 | 6.0x | ₹698 cr | 12.3% | 11.0% | 0.8x |
| 2025-10 | 6.2x | ₹698 cr | 12.3% | 11.0% | 0.8x |
| 2025-09 | 6.0x | ₹698 cr | 12.3% | 11.0% | 0.8x |
| 2025-08 | 7.1x | ₹659 cr | 10.5% | 11.0% | 0.8x |
| 2025-07 | 7.0x | ₹659 cr | 10.5% | 11.0% | 0.8x |
| 2025-06 | 7.5x | ₹659 cr | 10.5% | 11.0% | 0.8x |
| 2025-05 | 8.4x | ₹629 cr | 10.6% | 10.0% | 1.0x |
| 2025-04 | 7.8x | ₹629 cr | 10.6% | 10.0% | 1.0x |
| 2025-03 | 7.8x | ₹629 cr | 10.6% | 10.0% | 1.0x |
| 2025-02 | 11.4x | ₹577 cr | 7.3% | 10.0% | 1.0x |
| 2025-01 | 12.6x | ₹577 cr | 7.3% | 10.0% | 1.0x |
| 2024-12 | 12.8x | ₹577 cr | 7.3% | 10.0% | 1.0x |
| 2024-11 | 13.7x | ₹575 cr | 7.6% | 10.0% | 1.0x |
| 2024-10 | 14.2x | ₹575 cr | 7.6% | 10.0% | 1.0x |
| 2024-09 | 16.6x | ₹575 cr | 7.6% | 10.0% | 1.0x |
| 2024-08 | 13.4x | ₹657 cr | 9.3% | 10.0% | 1.0x |
| 2024-07 | 13.7x | ₹657 cr | 9.3% | 10.0% | 1.0x |
| 2024-06 | 14.0x | ₹657 cr | 9.3% | 10.0% | 1.0x |
| 2024-05 | 14.3x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2024-04 | 16.3x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2024-03 | 11.1x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2024-02 | 13.2x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2024-01 | 13.0x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-12 | 12.5x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-11 | 13.2x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-10 | 13.1x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-09 | 13.9x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-08 | 12.3x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-07 | 10.6x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-06 | 10.6x | ₹576 cr | 8.4% | 9.0% | 1.0x |
| 2023-05 | 5.9x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2023-04 | 6.4x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2023-03 | 5.8x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2023-02 | 5.6x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2023-01 | 6.1x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-12 | 6.9x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-11 | 5.8x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-10 | 5.6x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-09 | 5.8x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-08 | 6.0x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-07 | 6.5x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-06 | 6.2x | ₹548 cr | 16.3% | 15.0% | 0.9x |
| 2022-05 | 11.0x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2022-04 | 13.2x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2022-03 | 10.3x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2022-02 | 9.7x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2022-01 | 11.2x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-12 | 9.5x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-11 | 8.3x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-10 | 8.3x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-09 | 9.0x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-08 | 9.2x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-07 | 10.8x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-06 | 11.4x | ₹503 cr | 12.2% | 12.0% | 0.9x |
| 2021-05 | 9.1x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2021-04 | 8.2x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2021-03 | 5.8x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2021-02 | 5.6x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2021-01 | 5.3x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-12 | 5.9x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-11 | 5.8x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-10 | 5.0x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-09 | 5.3x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-08 | 5.9x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-07 | 4.2x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-06 | 4.5x | ₹531 cr | 10.2% | 14.0% | 0.9x |
| 2020-05 | 2.5x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2020-04 | 2.6x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2020-03 | 2.4x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2020-02 | 2.5x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2020-01 | 3.3x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-12 | 2.9x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-11 | 2.3x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-10 | 2.3x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-09 | 2.7x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-08 | 2.7x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-07 | 2.5x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-06 | 2.9x | ₹390 cr | 14.3% | 17.0% | 0.6x |
| 2019-05 | 4.3x | ₹463 cr | 22.6% | 20.0% | 1.2x |
| 2019-04 | 4.3x | ₹463 cr | 22.6% | 20.0% | 1.2x |
| 2019-03 | 4.4x | ₹463 cr | 22.6% | 20.0% | 1.2x |
| 2019-02 | 4.3x | ₹463 cr | 22.6% | 20.0% | 1.2x |
| 2019-01 | 3.8x | ₹463 cr | 22.6% | 20.0% | 1.2x |