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KPI GREEN ENERGY LIMITED (KPIGREEN)

Utilities · Alternative Power Generation · 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.64 / 100
Profitability 69Growth 98Balance sheet 26
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.43 / 100
Price 38Earnings 51FII/DII 41

Passes these screensValue PickLittle growth priced in

Compare withPOWER GRID CORPORATION OF INDINTPC GREEN ENERGYACME SOLAR HOLDINGS

Share price

Closing priceAdjusted for splits and bonus issues.

₹331.4 latest close · −18.0% over the last 90 sessions

₹300₹350₹400Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹300₹350₹400Jul 3Sep 4Nov 9

₹331.4 month-end · −23.2% over 12 months

₹300₹400₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹300₹400₹500Nov '25May '26Nov '26

₹331.4 month-end · +29.1% over 3 years

₹400₹600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600Nov '23May '25Nov '26

₹331.4 month-end · +2116.7% since Jul '21

₹0₹200₹400₹600Jul '21Aug '22Sep '23Sep '24Oct '25Nov '26 ₹0₹200₹400₹600Jul '21Mar '24Nov '26

52-week range ₹271.90 to ₹540.30 · 1-year volatility 45.9%

Was the rally earned?

-23%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 22 points, but investors now pay less per rupee of profit (P/E 23.8x to 14.3x), which took 45 points back.
  • The share count rose 4%.
Net profit growth: +25 pts. Points of the price return explained by net profit growing (or shrinking).+25 ptsNet profit growthP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: −23%−23%Share priceNet profit growth: +25 pts. Points of the price return explained by net profit growing (or shrinking).+25ProfitP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: −23%−23%Share price
Net profit growth+25 ptsNet profit rose about 33%, which lifts the price.
P/E change-45 ptsThe P/E fell from 23.8x to 14.3x, which lowers the price.
Share count change-4 ptsShare count rose 4%, which lowers the price.
+29%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 141 points, but investors now pay less per rupee of profit (P/E 38.1x to 14.3x), which took 112 points back.
  • The share count rose 30%.
Net profit growth: +171 pts. Points of the price return explained by net profit growing (or shrinking).+171 ptsNet profit growthP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112 ptsP/E changeShare count change: −30 pts. Points of the price return explained by the share count changing. More shares count against the price.−30 ptsShare count changeShare price: +29%+29%Share priceNet profit growth: +171 pts. Points of the price return explained by net profit growing (or shrinking).+171ProfitP/E change: −112 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−112P/EShare count change: −30 pts. Points of the price return explained by the share count changing. More shares count against the price.−30SharesShare price: +29%+29%Share price
Net profit growth+171 ptsNet profit rose about 348%, which lifts the price.
P/E change-112 ptsThe P/E fell from 38.1x to 14.3x, which lowers the price.
Share count change-30 ptsShare count rose 30%, which lowers the price.
+1148%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 1294 points, but investors now pay less per rupee of profit (P/E 19.7x to 14.3x), which took 145 points back.
  • The share count rose 31%.
Net profit growth: +1414 pts. Points of the price return explained by net profit growing (or shrinking).+1414 ptsNet profit growthP/E change: −145 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−145 ptsP/E changeShare count change: −121 pts. Points of the price return explained by the share count changing. More shares count against the price.−121 ptsShare count changeShare price: +1148%+1148%Share priceNet profit growth: +1414 pts. Points of the price return explained by net profit growing (or shrinking).+1414ProfitP/E change: −145 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−145P/EShare count change: −121 pts. Points of the price return explained by the share count changing. More shares count against the price.−121SharesShare price: +1148%+1148%Share price
Net profit growth+1414 ptsNet profit rose about 2141%, which lifts the price.
P/E change-145 ptsThe P/E fell from 19.7x to 14.3x, which lowers the price.
Share count change-121 ptsShare count rose 31%, which lowers 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 POWER GRID CORPORATION OF INDI

How rough has the ride been?

Maximum drawdown-62.3%not yet recovered
1-year volatility45.9%annualised
Beta vs sector index0.683-year daily, correlation 0.35
Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%20222023202420252026−62.1% 0%−20%−40%−60%202220242026−62.1%
Largest drawdowns

-62.3% (2024-08 peak to 2026-09 low, not yet recovered)

-27.5% (2022-03 peak to 2022-05 low, recovered 2022-06)

-25.6% (2022-01 peak to 2022-02 low, recovered 2022-03)

Most recent volume spikes

2026-11-09: 49.2x the 50-day median, price +8.6% that day

2026-09-30: 5.3x the 50-day median, price -3.3% that day

2026-09-28: 12.1x the 50-day median, price +5.2% 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?

14.3xP/E todayNear its historic low
Against its own history11th percentile
CheapestMedian 29.8xDearest

Usual range 14.8x to 62.5x since 2021-07.

Against Utilities14.3x vs 27.3x
This company
14.3x
Sector median
27.3x

48% below the Utilities median.

10.5x37.0x63.6x90.1xJul '21Aug '22Sep '23Oct '24Nov '25Nov '2610.5x37.0x63.6x90.1xJul '21May '23Mar '25Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianUtilities median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianUtilities 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 Utilities is valued

Where does it rank among Utilities peers?

Each cell is the company's percentile rank among its Utilities 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▼ 9 pts vs a year ago
  • Op. margin70thflat vs a year ago
  • Revenue growth80th▼ 10 pts vs a year ago
  • EPS growth76th▼ 13 pts vs a year ago
  • Debt/equity ↓25th▼ 25 pts vs a year ago
  • Cash cycle ↓27th▲ 5 pts vs a year ago
  • P/E ↓78th▲ 18 pts vs a year ago
  • 12M momentum39th▼ 10 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 Utilities sector page Watch it move against Utilities in the Observatory

What is the price implying?

~20%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 30.7x, a holder earning 12%/yr needs earnings to grow about 20.1%/yr for 10 years, then trade at 15x.

Delivered84.6%/yrEPS, last 8 fiscal years · 3-yr avg to 3-yr avg
Gap−39.9 ptsimplied minus delivered
Rank844thmost demanding of 856

Over time

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

0%50%100% Jul 2021Nov 2026 0%50%100% Jul 2021Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x21.6%22.7%23.8%
15x19.0%20.1%21.1%
20x15.7%16.7%17.7%

Drag a slider to test other assumptions

Implied: 20.1%/yr

Looking back

  • Jan 2022Price implied 31%/yr; EPS has since grown 78%/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 Utilities The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹331.40
P/E
14.3x
ROCE
14.0%
Market Cap
₹6557 cr
Revenue (TTM)
₹2787 cr
P/S
2.4x
P/B
2.2x
ROE
15.1%
Operating Margin
35.0%
Debt / Equity
1.7x
Promoter Holding
49.4%
12M Momentum
-23.2%

52-week range

₹271.90₹540.30
22% of the way from its 52-week low to its high

Price risk

1Y volatility
45.9%
Beta vs sector
1-year daily
1.02

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.67x
Share count, 1Y
+1.0%

Are profits backed by cash?

4 of 6checks within range1 beyond a threshold
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.67xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.67x (cash from operations ₹666 cr, net profit ₹996 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-22 daysWithin range

Debtor days are below the median of the previous three fiscal years by 22 days (100 vs 122). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress20% of fixed assetsWithin range

Capital work-in-progress is 20% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

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, promoters trimmed 5.4 pts; FIIs added 3.9 pts; DIIs added 0.7 pts.
  • The number of shareholders rose from 59,420 to 3.1 lakh (+420%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters54.8%49.4%-5.4 pts
FIIs4.2%8.2%+3.9 pts
DIIs0.0%0.7%+0.7 pts
Public and others40.9%41.8%+0.8 pts

Number of shareholders

3.1 lakhshareholders+420% since Sep '23
59k1.5L2.4L3.2L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 59,420
Dec '23: 81,436
Mar '24: 1.5 lakh
Jun '24: 2.0 lakh
Sep '24: 2.6 lakh
Dec '24: 2.9 lakh
Mar '25: 3.2 lakh
Jun '25: 3.2 lakh
Sep '25: 3.1 lakh
Dec '25: 3.1 lakh
Mar '26: 3.1 lakh
Jun '26: 3.1 lakh
 59k1.5L2.4L3.2L Sep '23Sep '24Sep '25Jun '26
Sep '23: 59,420
Dec '23: 81,436
Mar '24: 1.5 lakh
Jun '24: 2.0 lakh
Sep '24: 2.6 lakh
Dec '24: 2.9 lakh
Mar '25: 3.2 lakh
Jun '25: 3.2 lakh
Sep '25: 3.1 lakh
Dec '25: 3.1 lakh
Mar '26: 3.1 lakh
Jun '26: 3.1 lakh

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

+6.1%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 KPI GREEN ENERGY 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 −14% to +44% vs the market, against +1% for all non-financial companies in the same months.
  • The gap against the base rate (+4.7%, 80% range −5.8% to +11.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
STAR · Jul 2021: −60.0% vs market
VRLLOG · Aug 2023: −46.6% vs market
NACLIND · Jul 2023: −43.0% vs market
EDELWEISS · Feb 2020: −41.9% vs market
JMFINANCIL · Nov 2020: −38.8% vs market
BHARATWIRE · May 2024: −37.1% vs market
SATIA · May 2023: −30.2% vs market
EPIGRAL · Mar 2023: −21.7% vs market
SHREEKARNI · Oct 2025: −21.6% vs market
VISHNU · Mar 2023: −20.5% vs market
JKPAPER · May 2023: −18.4% vs market
EMBDL · Apr 2020: −17.0% vs market
POKARNA · Sep 2022: −14.1% vs market
KOLTEPATIL · May 2024: −12.2% vs market
CRAFTSMAN · Jan 2024: −11.7% vs market
HATSUN · May 2022: −11.1% vs market
GENUSPOWER · Sep 2025: −7.4% vs market
ARIHANTSUP · Mar 2020: −6.0% vs market
CAMLINFINE · Mar 2022: −3.8% vs market
CESC · Jul 2020: −2.6% vs market
HIMATSEIDE · Jan 2020: −2.3% vs market
CCL · Dec 2023: −1.9% vs market
GREENPOWER · Jul 2020: +0.7% vs market
KPIL · Apr 2020: +1.0% vs market
ROHLTD · Jun 2024: +5.3% vs market
LUMAXTECH · Sep 2023: +7.0% vs market
SOBHA · Feb 2020: +8.7% vs market
CANTABIL · Sep 2024: +10.7% vs market
PURVA · Apr 2020: +10.9% vs market
CARYSIL · Sep 2024: +14.2% vs market
HIKAL · Mar 2020: +14.6% vs market
DBL · May 2020: +18.8% vs market
RKFORGE · Jan 2020: +20.0% vs market
MARATHON · May 2024: +23.4% vs market
ASTERDM · May 2021: +25.9% vs market
AJMERA · Jun 2024: +34.3% vs market
PNCINFRA · May 2020: +40.1% vs market
PRESTIGE · May 2021: +45.4% vs market
BIRLACORPN · Dec 2020: +46.0% vs market
BRIGADE · May 2020: +48.2% vs market
JUBLPHARMA · Mar 2020: +52.0% vs market
WELSPUNLIV · Jun 2020: +59.0% vs market
MMFL · Mar 2020: +64.4% vs market
BAJAJELEC · Jan 2020: +67.1% vs market
CHAMBLFERT · Apr 2021: +70.2% vs market
NETWORK18 · May 2021: +72.1% vs market
BFUTILITIE · Apr 2023: +73.1% vs market
ABSMARINE · Sep 2025: +88.8% vs market
KIRLOSENG · Mar 2025: +89.8% vs market
JBMA · Nov 2022: +154.0% vs market
Similar setups +6.1%All companies +1.4%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
+6.1%
All companies' median
+1.4%
Beat the market
56% vs 52%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SOBHA
Finance		 Feb 2020 10x14% −32%−49% +9%
BHARATWIRE
Producer Manufacturing		 May 2024 21x16% +48%−31% −37%
DBL
Industrial Services		 May 2020 6x17% −55%−58% +19%
PURVA
Finance		 Apr 2020 8x10% −49%−56% +11%
JKPAPER
Process Industries		 May 2023 10x16% −2%−26% −18%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PNCINFRA
Industrial Services		 May 2020 8x16% −46%−50% +40%
BRIGADE
Finance		 May 2020 9x12% −40%−58% +48%
ASTERDM
Health Services		 May 2021 27x12% +64%−15% +26%
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, drawdown from 12-month high 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.

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 KPI GREEN ENERGY 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.

SANGHVI MOVERSSANGHVIMOV
Industrial Services
61%similar
operating marginpromoter holding
GENUS POWER INFRASTRUCTURES LTGENUSPOWER
Electronic Technology
60%similar
revenue growthP/E
RATEGAIN TRAVEL TECHNOLOGIESRATEGAIN
Technology Services
60%similar
ROCErevenue growth
ARVIND SMARTSPACESARVSMART
Finance
55%similar
P/Erevenue growth
BRIGADE ENTERPRISESBRIGADE
Finance
53%similar
operating margindebt/equity
NLC INDIANLCINDIA
Utilities
23%similar
debt/equityoperating margin
RAVINDRA ENERGYRELTD
Utilities
22%similar
ROCEdebt/equity
JAIPRAKASH POWER VENTURES LIMIJPPOWER
Utilities
20%similar
P/Eoperating margin

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

What changed?

30 events since Nov '23

  1. NovPriceVolume reached 49.2x its 50-day median on 2026-11-09; price +8.6% that day.
  2. SepPriceFell 62% from the Aug 2024 peak to the Sep 2026 low.
  3. SepPeer rankSlipped to the 2nd quartile of Utilities on operating margin (from the top quartile).
  4. SepPriceVolume reached 28.1x its 50-day median on 2026-09-21; price +13.0% that day.
  5. JunPeer rankSlipped to the 2nd quartile of Utilities on ROCE (from the top quartile).
  6. JunDebtDebt / equity rose above 1.0x (1.71x).
  7. MayValuationP/E fell below the 10th percentile of its own history to date (19.3x).
  8. MayPriceVolume reached 15.4x its 50-day median on 2026-05-06; price +5.8% that day.
Show 22 earlier events
  1. MarPeer rankMoved into the top quartile of Utilities on operating margin (from the 2nd quartile).
  2. MarDebtDebt / equity halved over 12 months to 0.61x.
  3. MarPriceVolume reached 14.3x its 50-day median on 2026-03-12; price +8.5% that day.
  4. JanValuationP/E fell below the 10th percentile of its own history to date (19.7x).
  5. DecPriceVolume reached 51.7x its 50-day median on 2025-12-31; price +6.0% that day.
  6. SepValuationP/E fell below the 10th percentile of its own history to date (24.2x).
  7. AugDebtDebt / equity halved over 12 months to 0.61x.
  8. JulSharesShare count is up 63.3% over 12 months.
  9. JunDebtDebt / equity fell below 1.0x (0.61x).
  10. MayPriceVolume reached 8.1x its 50-day median on 2025-05-14; price +5.3% that day.
  11. JanDebtDebt / equity halved over 12 months to 1.24x.
  12. JanPriceVolume reached 5.5x its 50-day median on 2025-01-14; price -4.0% that day.
  13. DecPromoterPromoter holding fell 4.3 pts to 48.8%.
  14. DecInstitutionsFII + DII holding rose 5.2 pts over 2 quarters to 11.4%.
  15. SepPeer rankSlipped to the 2nd quartile of Utilities on operating margin (from the top quartile).
  16. JunResultsRevenue (TTM) reached a new high of ₹1,023 cr.
  17. JunDebtDebt / equity halved over 12 months to 1.24x.
  18. JunDividendDividend payout cut from 9% to 3% of profit.
  19. JunSharesShare count is up 66.7% over 12 months.
  20. MarInstitutionsFII + DII holding rose 3.8 pts over 1 quarter to 8.1%.
  21. DecValuationP/E crossed above the 90th percentile of its own history to date (48.4x).
  22. NovPriceVolume reached 9.9x its 50-day median on 2023-11-10; price +10.0% 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 history65 months · 2021-07 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1114.3x₹2787 cr15.1%14.0%1.7x
2026-1012.0x₹2787 cr15.1%14.0%1.7x
2026-0915.5x₹2787 cr15.1%14.0%1.7x
2026-0812.6x₹2696 cr15.6%14.0%1.7x
2026-0715.5x₹2696 cr15.6%14.0%1.7x
2026-0616.5x₹2696 cr15.6%14.0%1.7x
2026-0519.3x₹2469 cr17.6%17.0%0.6x
2026-0420.5x₹2469 cr17.6%17.0%0.6x
2026-0316.1x₹2469 cr17.6%17.0%0.6x
2026-0219.2x₹2264 cr16.0%17.0%0.6x
2026-0119.7x₹2264 cr16.0%17.0%0.6x
2025-1225.0x₹2264 cr16.0%17.0%0.6x
2025-1123.8x₹1990 cr14.2%17.0%0.6x
2025-1029.5x₹1990 cr14.2%17.0%0.6x
2025-0924.2x₹1990 cr14.2%17.0%0.6x
2025-0829.1x₹1735 cr12.5%17.0%0.6x
2025-0731.0x₹1735 cr12.5%17.0%0.6x
2025-0631.1x₹1735 cr12.5%17.0%0.6x
2025-0535.1x₹1455 cr29.4%22.0%1.2x
2025-0427.5x₹1455 cr29.4%22.0%1.2x
2025-0329.4x₹1455 cr29.4%22.0%1.2x
2025-0230.5x₹1327 cr25.6%22.0%1.2x
2025-0129.6x₹1327 cr25.6%22.0%1.2x
2024-1243.9x₹1327 cr25.6%22.0%1.2x
2024-1147.8x₹1182 cr21.7%22.0%1.2x
2024-1047.2x₹1182 cr21.7%22.0%1.2x
2024-0952.4x₹1182 cr21.7%22.0%1.2x
2024-0864.5x₹1023 cr18.1%22.0%1.2x
2024-0766.1x₹1023 cr18.1%22.0%1.2x
2024-0664.2x₹1023 cr18.1%22.0%1.2x
2024-0590.1x₹644 cr39.7%25.0%2.6x
2024-0489.4x₹644 cr39.7%25.0%2.6x
2024-0375.3x₹644 cr39.7%25.0%2.6x
2024-0286.1x₹644 cr39.7%25.0%2.6x
2024-0160.0x₹644 cr39.7%25.0%2.6x
2023-1248.4x₹644 cr39.7%25.0%2.6x
2023-1138.1x₹644 cr39.7%25.0%2.6x
2023-1027.0x₹644 cr39.7%25.0%2.6x
2023-0927.1x₹644 cr39.7%25.0%2.6x
2023-0829.5x₹644 cr39.7%25.0%2.6x
2023-0727.4x₹644 cr39.7%25.0%2.6x
2023-0626.9x₹644 cr39.7%25.0%2.6x
2023-0541.1x₹230 cr26.0%20.0%2.9x
2023-0442.3x₹230 cr26.0%20.0%2.9x
2023-0334.9x₹230 cr26.0%20.0%2.9x
2023-0236.2x₹230 cr26.0%20.0%2.9x
2023-0139.6x₹230 cr26.0%20.0%2.9x
2022-1236.5x₹230 cr26.0%20.0%2.9x
2022-1139.8x₹230 cr26.0%20.0%2.9x
2022-1029.8x₹230 cr26.0%20.0%2.9x
2022-0936.0x₹230 cr26.0%20.0%2.9x
2022-0838.4x₹230 cr26.0%20.0%2.9x
2022-0728.7x₹230 cr26.0%20.0%2.9x
2022-0627.5x₹230 cr26.0%20.0%2.9x
2022-0537.5x₹102 cr17.1%16.0%2.0x
2022-0443.6x₹102 cr17.1%16.0%2.0x
2022-0345.8x₹102 cr17.1%16.0%2.0x
2022-0233.6x₹102 cr17.1%16.0%2.0x
2022-0140.8x₹102 cr17.1%16.0%2.0x
2021-1226.4x₹102 cr17.1%16.0%2.0x
2021-1119.7x₹102 cr17.1%16.0%2.0x
2021-1013.3x₹102 cr17.1%16.0%2.0x
2021-0910.5x₹102 cr17.1%16.0%2.0x
2021-0811.3x₹102 cr17.1%16.0%2.0x
2021-0711.1x₹102 cr17.1%16.0%2.0x

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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