Share price
₹111.93 latest close · −14.8% over the last 90 sessions
₹111.93 month-end · −30.1% over 12 months
₹111.93 month-end · −61.6% over 3 years
₹111.93 month-end · +8.8% since Jan '19
52-week range ₹96.14 to ₹186.00 · 1-year volatility 41.1%
Was the rally earned?
Mostly earnings.
- Per-share earnings took off 74 points, while the multiple moved less (P/E 4.7x to 8.0x).
- The share count barely moved.
Mostly the multiple.
- Most of the fall came from investors paying a lower multiple (P/E 17.9x to 8.0x); per-share earnings took off 10 points.
- The share count rose 4%.
Mostly the multiple.
- Most of the fall came from investors paying a lower multiple (P/E 19.4x to 8.0x); per-share earnings took off 2 points.
- The share count rose 6%.
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
-76.2% (2024-07 peak to 2026-10 low, not yet recovered)
-40.0% (2020-01 peak to 2020-04 low, recovered 2020-12)
-38.3% (2021-09 peak to 2022-10 low, recovered 2024-06)
Most recent volume spikes
2026-11-06: 6.9x the 50-day median, price +2.3% that day
2026-08-06: 6.4x the 50-day median, price +5.6% 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?
Usual range 6.1x to 19.6x since 2019-01.
43% below the Industrial Services 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 Industrial Services peers?
Each cell is the company's percentile rank among its Industrial Services 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
- ROCE27th▼ 58 pts vs a year ago
- Op. margin62nd▼ 18 pts vs a year ago
- Revenue growth5th▼ 21 pts vs a year ago
- EPS growth18th▼ 44 pts vs a year ago
- Debt/equity ↓41st▼ 9 pts vs a year ago
- Cash cycle ↓70thflat vs a year ago
- P/E ↓83rd▼ 15 pts vs a year ago
- 12M momentum40th▲ 26 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 Industrial Services sector page Watch it move against Industrial Services in the Observatory
What is the price implying?
At normalised P/E (five-year average earnings) of 5.3x, a holder earning 12%/yr needs earnings to grow about 0.6%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 2.0% | 2.9% | 3.8% |
| 15x | −0.3% | 0.6% | 1.5% |
| 20x | −3.1% | −2.2% | −1.3% |
Drag a slider to test other assumptions
Implied: 0.6%/yrLooking back
- Jan 2020Price implied 18%/yr; EPS has since grown 7%/yr (7.0 yrs)
- Jan 2021Price implied 18%/yr; EPS has since grown 9%/yr (6.0 yrs)
- Jan 2022Price implied 21%/yr; EPS has since grown 3%/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 Industrial Services The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹111.93
- P/E
- 8.0x
- ROCE
- 10.0%
- Market Cap
- ₹3147 cr
- Revenue (TTM)
- ₹2673 cr
- P/S
- 1.2x
- P/B
- 0.6x
- ROE
- 7.9%
- Operating Margin
- 16.0%
- Debt / Equity
- 0.5x
- Promoter Holding
- 48.8%
- 12M Momentum
- -30.1%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance32%Near threshold
Other income as a share of pre-tax profit (trailing twelve months): 31.9%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate22%Within range
Median quarterly effective tax rate over about 2.5 years: 21.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion-0.46xBeyond threshold
Operating cash flow divided by net profit over the last three fiscal years: -0.46x (cash from operations ₹-1,013 cr, net profit ₹2,191 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow1 of 5 yrsBeyond threshold
Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history+53 daysBeyond threshold
Debtor days are above the median of the previous three fiscal years by 53 days (109 vs 56). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress0% of fixed assetsWithin range
Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days+73 days / 2 yrsNear threshold
Days payable changed by +73 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, DIIs trimmed 12.0 pts; promoters trimmed 2.3 pts; FIIs trimmed 2.1 pts.
- The number of shareholders rose from 1.2 lakh to 2.4 lakh (+109%) 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
- We found 50 past situations where a non-financial company looked like KNR CONSTRUCTIONS 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 −26% to +46% vs the market, against −8% for all non-financial companies in the same months.
- The gap against the base rate (+5.5%, 80% range −8.9% to +18.7%) 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 · 5 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 30 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SMSPHARMA Health Technology |
Mar 2023 | 8x | 13% | −38% | −46% | +106% |
| VINDHYATEL Industrial Services |
Jun 2022 | 6x | 8% | −27% | −33% | +62% |
| DALMIASUG Process Industries |
Jul 2024 | 12x | 10% | +7% | −15% | −4% |
| GRINFRA Industrial Services |
Oct 2025 | 10x | 14% | −28% | −29% | −32% |
| JUBLPHARMA Health Technology |
Mar 2023 | 11x | 10% | −28% | −42% | +38% |
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: operating margin, 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.
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 Nov '23
- NovPriceVolume reached 6.9x its 50-day median on 2026-11-06; price +2.3% that day.
- OctPriceFell 76% from the Jul 2024 peak to the Oct 2026 low.
- SepPeer rankSlipped to the 2nd quartile of Industrial Services on operating margin (from the top quartile).
- AugPriceVolume reached 6.4x its 50-day median on 2026-08-06; price +5.6% that day.
- JunInstitutionsFII + DII holding fell 3.4 pts over 2 quarters to 25.6%.
- JunPeer rankSlipped to the 3rd quartile of Industrial Services on ROCE (from the top quartile).
- AprPriceVolume reached 22.2x its 50-day median on 2026-04-01; price +9.5% that day.
- MarPeer rankSlipped to the 2nd quartile of Industrial Services on operating margin (from the top quartile).
Show 22 earlier events
- MarPriceVolume reached 110.8x its 50-day median on 2026-03-30; price +3.1% that day.
- FebValuationP/E fell below the 10th percentile of its own history to date (6.1x).
- DecResultsYear-on-year EPS growth turned negative.
- DecPeer rankSlipped to the bottom quartile of Industrial Services on EPS growth (from the 2nd quartile).
- DecPriceVolume reached 18.6x its 50-day median on 2025-12-26; price +4.6% that day.
- SepInstitutionsFII + DII holding fell 4.5 pts over 2 quarters to 32.2%.
- SepPriceVolume reached 114.5x its 50-day median on 2025-09-17; price +4.8% that day.
- JunPeer rankMoved into the top quartile of Industrial Services on ROCE (from the 2nd quartile).
- JunPriceVolume reached 22.7x its 50-day median on 2025-06-26; price -1.9% that day.
- FebPriceVolume reached 10.2x its 50-day median on 2025-02-06; price +4.3% that day.
- JanPeer rankSlipped to the 2nd quartile of Industrial Services on ROCE (from the top quartile).
- DecPeer rankMoved into the top quartile of Industrial Services on EPS growth (from the 2nd quartile).
- NovPriceVolume reached 53.4x its 50-day median on 2024-11-13; price +8.2% that day.
- OctValuationP/E fell below the 10th percentile of its own history to date (10.3x).
- SepPromoterPromoter holding fell 2.3 pts to 48.8%.
- JunResultsRevenue (TTM) reached a new high of ₹4,429 cr.
- JunPriceRegained the 2021-09 peak, 20 months after the low.
- JunPeer rankMoved into the 2nd quartile of Industrial Services on EPS growth (from the 3rd quartile).
- JunDividendDividend payout cut from 2% to 1% of profit.
- MayPriceVolume reached 52.0x its 50-day median on 2024-05-30; price +8.1% that day.
- JanDebtDebt / equity halved over 12 months to 0.23x.
- NovPriceVolume reached 8.9x its 50-day median on 2023-11-21; price +6.1% 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
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 8.0x | ₹2673 cr | 7.9% | 10.0% | 0.5x |
| 2026-10 | 7.0x | ₹2673 cr | 7.9% | 10.0% | 0.5x |
| 2026-09 | 8.5x | ₹2673 cr | 7.9% | 10.0% | 0.5x |
| 2026-08 | 7.8x | ₹2698 cr | 8.8% | 10.0% | 0.5x |
| 2026-07 | 7.8x | ₹2698 cr | 8.8% | 10.0% | 0.5x |
| 2026-06 | 8.5x | ₹2698 cr | 8.8% | 10.0% | 0.5x |
| 2026-05 | 7.6x | ₹2977 cr | 7.5% | 29.0% | 0.4x |
| 2026-04 | 7.5x | ₹2977 cr | 7.5% | 29.0% | 0.4x |
| 2026-03 | 6.8x | ₹2977 cr | 7.5% | 29.0% | 0.4x |
| 2026-02 | 6.1x | ₹3082 cr | 10.7% | 29.0% | 0.4x |
| 2026-01 | 6.8x | ₹3082 cr | 10.7% | 29.0% | 0.4x |
| 2025-12 | 7.4x | ₹3082 cr | 10.7% | 29.0% | 0.4x |
| 2025-11 | 4.7x | ₹4381 cr | 21.1% | 29.0% | 0.4x |
| 2025-10 | 5.3x | ₹4381 cr | 21.1% | 29.0% | 0.4x |
| 2025-09 | 5.9x | ₹4381 cr | 21.1% | 29.0% | 0.4x |
| 2025-08 | 5.4x | ₹4753 cr | 22.1% | 29.0% | 0.4x |
| 2025-07 | 6.0x | ₹4753 cr | 22.1% | 29.0% | 0.4x |
| 2025-06 | 6.3x | ₹4753 cr | 22.1% | 29.0% | 0.4x |
| 2025-05 | 4.9x | ₹5192 cr | 37.6% | 26.0% | 0.4x |
| 2025-04 | 5.1x | ₹5192 cr | 37.6% | 26.0% | 0.4x |
| 2025-03 | 5.3x | ₹5192 cr | 37.6% | 26.0% | 0.4x |
| 2025-02 | 5.6x | ₹5340 cr | 34.4% | 26.0% | 0.4x |
| 2025-01 | 7.5x | ₹5340 cr | 34.4% | 26.0% | 0.4x |
| 2024-12 | 8.8x | ₹5340 cr | 34.4% | 26.0% | 0.4x |
| 2024-11 | 11.3x | ₹4433 cr | 22.1% | 26.0% | 0.4x |
| 2024-10 | 10.3x | ₹4433 cr | 22.1% | 26.0% | 0.4x |
| 2024-09 | 11.9x | ₹4433 cr | 22.1% | 26.0% | 0.4x |
| 2024-08 | 12.0x | ₹4429 cr | 21.2% | 26.0% | 0.4x |
| 2024-07 | 14.7x | ₹4429 cr | 21.2% | 26.0% | 0.4x |
| 2024-06 | 12.6x | ₹4429 cr | 21.2% | 26.0% | 0.4x |
| 2024-05 | 19.5x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2024-04 | 16.3x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2024-03 | 15.1x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2024-02 | 16.5x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2024-01 | 17.0x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-12 | 15.7x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-11 | 17.9x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-10 | 16.2x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-09 | 17.4x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-08 | 16.9x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-07 | 15.2x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-06 | 14.9x | ₹4062 cr | 15.8% | 21.0% | 0.2x |
| 2023-05 | 18.2x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2023-04 | 17.7x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2023-03 | 18.7x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2023-02 | 18.9x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2023-01 | 18.2x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-12 | 18.8x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-11 | 19.3x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-10 | 16.4x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-09 | 16.8x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-08 | 19.2x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-07 | 19.4x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-06 | 17.2x | ₹3606 cr | 15.7% | 20.0% | 0.6x |
| 2022-05 | 17.9x | ₹2904 cr | 19.5% | 22.0% | 0.4x |
| 2022-04 | 18.7x | ₹2904 cr | 19.5% | 22.0% | 0.4x |
| 2022-03 | 19.6x | ₹2904 cr | 19.5% | 22.0% | 0.4x |
| 2022-02 | 21.4x | ₹2904 cr | 19.5% | 22.0% | 0.4x |
| 2022-01 | 21.8x | ₹2904 cr | 19.5% | 22.0% | 0.4x |
| 2021-12 | 20.7x | ₹2904 cr | 19.5% | 22.0% | 0.4x |
Older months are in the live observatory.