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KALPATARU PROJECTS INTL. LTD (KPIL)

Industrial Services · Engineering & Construction · 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.56 / 100
Profitability 48Growth 70Balance sheet 49
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.56 / 100
Price 74Earnings 68FII/DII 25

Passes these screensHigh MomentumDebt-light & profitableConsistent compounders

Compare withLARSEN AND TOUBROJSW INFRASTRUCTURERAIL VIKAS NIGAM

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,370.5 latest close · −1.0% over the last 90 sessions

₹1,300₹1,400Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,300₹1,400Jul 3Sep 4Nov 9

₹1,370.5 month-end · +14.2% over 12 months

₹1,200₹1,400Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,200₹1,400Nov '25May '26Nov '26

₹1,370.5 month-end · +106.6% over 3 years

₹750₹1,000₹1,250Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹750₹1,000₹1,250Nov '23May '25Nov '26

₹1,370.5 month-end · +272.7% since Jan '19

₹500₹1,000₹1,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000₹1,500Jan '19Dec '22Nov '26

52-week range ₹1007.10 to ₹1490.00 · 1-year volatility 30.4%

Was the rally earned?

+14%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 50 points, but investors now pay less per rupee of profit (P/E 28.7x to 20.6x), which took 36 points back.
  • The share count rose 2%.
Net profit growth: +52 pts. Points of the price return explained by net profit growing (or shrinking).+52 ptsNet profit growthP/E change: −36 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−36 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +14%+14%Share priceNet profit growth: +52 pts. Points of the price return explained by net profit growing (or shrinking).+52ProfitP/E change: −36 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−36P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +14%+14%Share price
Net profit growth+52 ptsNet profit rose about 63%, which lifts the price.
P/E change-36 ptsThe P/E fell from 28.7x to 20.6x, which lowers the price.
Share count change-2 ptsShare count rose 2%, which lowers the price.
+107%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 132 points, but investors now pay less per rupee of profit (P/E 24.4x to 20.6x), which took 25 points back.
  • The share count rose 7%.
Net profit growth: +141 pts. Points of the price return explained by net profit growing (or shrinking).+141 ptsNet profit growthP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25 ptsP/E changeShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9 ptsShare count changeShare price: +107%+107%Share priceNet profit growth: +141 pts. Points of the price return explained by net profit growing (or shrinking).+141ProfitP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25P/EShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9SharesShare price: +107%+107%Share price
Net profit growth+141 ptsNet profit rose about 161%, which lifts the price.
P/E change-25 ptsThe P/E fell from 24.4x to 20.6x, which lowers the price.
Share count change-9 ptsShare count rose 7%, which lowers the price.
+253%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 8.6x to 20.6x); per-share earnings added 78 points.
  • The share count rose 16%.
Net profit growth: +108 pts. Points of the price return explained by net profit growing (or shrinking).+108 ptsNet profit growthP/E change: +175 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+175 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: +253%+253%Share priceNet profit growth: +108 pts. Points of the price return explained by net profit growing (or shrinking).+108ProfitP/E change: +175 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+175P/EShare count change: −30 pts. Points of the price return explained by the share count changing. More shares count against the price.−30SharesShare price: +253%+253%Share price
Net profit growth+108 ptsNet profit rose about 72%, which lifts the price.
P/E change+175 ptsThe P/E rose from 8.6x to 20.6x, which lifts the price.
Share count change-30 ptsShare count rose 16%, 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 LARSEN AND TOUBRO

How rough has the ride been?

Maximum drawdown-67.6%recovered 2022-12
1-year volatility30.4%annualised
Beta vs sector index0.773-year daily, correlation 0.50
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−67.4% 0%−20%−40%−60%2020202220242026−67.4%
Largest drawdowns

-67.6% (2019-05 peak to 2020-04 low, recovered 2022-12)

-40.3% (2024-09 peak to 2025-03 low, recovered 2026-06)

-15.7% (2019-01 peak to 2019-02 low, recovered 2019-02)

Most recent volume spikes

2026-08-12: 26x the 50-day median, price +3.6% 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?

20.6xP/E todayWithin its usual range
Against its own history55th percentile
CheapestMedian 17.3xDearest

Usual range 8.8x to 36.8x since 2019-01.

Against Industrial Services20.6x vs 14.0x
This company
20.6x
Sector median
14.0x

47% above the Industrial Services median.

6.0x19.2x32.4x45.6xJan '19Aug '20Mar '22Oct '23May '25Nov '266.0x19.2x32.4x45.6xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

The chart loads when you open this tab.

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

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P/S (this company)10th to 90th percentile of its own historyIts medianIndustrial Services 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 Industrial Services is valued

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

  • ROCE61st▲ 15 pts vs a year ago
  • Op. margin35thflat vs a year ago
  • Revenue growth51st▼ 8 pts vs a year ago
  • EPS growth86th▲ 7 pts vs a year ago
  • Debt/equity ↓45th▲ 14 pts vs a year ago
  • Cash cycle ↓88th▲ 3 pts vs a year ago
  • P/E ↓30th▲ 6 pts vs a year ago
  • 12M momentum85thflat 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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~21%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 37.7x, a holder earning 12%/yr needs earnings to grow about 21.4%/yr for 10 years, then trade at 15x.

Delivered11.3%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+10.0 ptsimplied minus delivered
Rank322ndmost demanding of 856

Over time

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

0%25%49% Jan 2019Nov 2026 0%25%49% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x22.8%23.9%25.0%
15x20.3%21.4%22.5%
20x17.1%18.2%19.2%

Drag a slider to test other assumptions

Implied: 21.4%/yr

Looking back

  • Jan 2020Price implied 20%/yr; EPS has since grown 10%/yr (7.0 yrs)
  • Jan 2021Price implied 13%/yr; EPS has since grown 16%/yr (6.0 yrs)
  • Jan 2022Price implied 11%/yr; EPS has since grown 7%/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
₹1370.50
P/E
20.6x
ROCE
18.0%
Market Cap
₹23399 cr
Revenue (TTM)
₹27380 cr
P/S
0.9x
P/B
3.0x
ROE
14.6%
Operating Margin
9.0%
Debt / Equity
0.5x
Promoter Holding
33.6%
12M Momentum
14.2%

52-week range

₹1007.10₹1490.00
75% of the way from its 52-week low to its high

Price risk

1Y volatility
30.4%
Beta vs sector
1-year daily
0.72

Balance sheet & cash

Interest cover
operating profit ÷ interest
4.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.56x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance13%Within range

Other income as a share of pre-tax profit (trailing twelve months): 13.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.56xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.56x (cash from operations ₹3,291 cr, net profit ₹2,114 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-4 daysWithin range

Debtor days are below the median of the previous three fiscal years by 4 days (113 vs 117). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2% of fixed assetsWithin range

Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+16 days / 2 yrsWithin range

Days payable changed by +16 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, promoters trimmed 7.5 pts; FIIs added 2.3 pts; DIIs added 2.1 pts.
  • The number of shareholders rose from 64,395 to 1.2 lakh (+85%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters41.1%33.6%-7.5 pts
FIIs8.5%10.8%+2.3 pts
DIIs42.7%44.8%+2.1 pts
Public and others7.7%10.8%+3.1 pts

Number of shareholders

1.2 lakhshareholders+85% since Sep '23
64k86k1.1L1.3L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 64,395
Dec '23: 68,851
Mar '24: 76,744
Jun '24: 91,938
Sep '24: 1.0 lakh
Dec '24: 1.1 lakh
Mar '25: 1.2 lakh
Jun '25: 1.2 lakh
Sep '25: 1.2 lakh
Dec '25: 1.3 lakh
Mar '26: 1.2 lakh
Jun '26: 1.2 lakh
 64k86k1.1L1.3L Sep '23Sep '24Sep '25Jun '26
Sep '23: 64,395
Dec '23: 68,851
Mar '24: 76,744
Jun '24: 91,938
Sep '24: 1.0 lakh
Dec '24: 1.1 lakh
Mar '25: 1.2 lakh
Jun '25: 1.2 lakh
Sep '25: 1.2 lakh
Dec '25: 1.3 lakh
Mar '26: 1.2 lakh
Jun '26: 1.2 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

−12.4%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 KALPATARU PROJECTS INTL. 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 −26% to +6% vs the market, against −6% for all non-financial companies in the same months.
  • The gap against the base rate (−6.6%, 80% range −14.5% to 0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
NILKAMAL · Jul 2023: −52.6% vs market
HUHTAMAKI · Nov 2020: −49.1% vs market
UPL · Jan 2023: −48.9% vs market
BIRLACORPN · Jul 2021: −39.3% vs market
JKLAKSHMI · Aug 2021: −37.8% vs market
KNRCON · Mar 2023: −34.7% vs market
EIDPARRY · Aug 2025: −34.1% vs market
PNCINFRA · Sep 2021: −31.0% vs market
HGINFRA · May 2024: −29.3% vs market
TCI · Aug 2025: −29.3% vs market
ARVIND · Dec 2024: −26.8% vs market
VTL · Jul 2021: −26.3% vs market
JKTYRE · Oct 2025: −26.2% vs market
APOLLOTYRE · Jan 2024: −25.2% vs market
ORIENTCEM · Oct 2021: −23.1% vs market
SIS · Jun 2022: −22.6% vs market
DEEPAKFERT · Jun 2022: −21.2% vs market
MOTHERSON · Sep 2024: −18.8% vs market
DCMSHRIRAM · Jun 2025: −18.6% vs market
TVSSRICHAK · May 2020: −18.5% vs market
CYIENT · Aug 2023: −18.0% vs market
KEC · Aug 2020: −17.0% vs market
SSWL · Jun 2025: −16.0% vs market
JKCEMENT · May 2023: −15.9% vs market
ALLCARGO · Feb 2020: −12.9% vs market
LTFOODS · Dec 2024: −12.0% vs market
TORNTPOWER · Jun 2020: −11.7% vs market
PNGJL · Oct 2025: −8.9% vs market
BALRAMCHIN · Mar 2025: −6.7% vs market
JSL · Oct 2025: −5.5% vs market
POWERMECH · Apr 2024: −1.7% vs market
SHYAMMETL · Dec 2023: −1.2% vs market
SANSERA · Jul 2023: +0.5% vs market
JINDALSTEL · Sep 2023: +2.1% vs market
GRANULES · Feb 2024: +3.5% vs market
ASKAUTOLTD · Nov 2024: +5.2% vs market
GODREJAGRO · Jul 2024: +5.7% vs market
MINDACORP · Jun 2024: +6.1% vs market
KPRMILL · Jan 2020: +12.8% vs market
CEATLTD · Mar 2025: +15.7% vs market
PSPPROJECT · Apr 2025: +15.8% vs market
GLENMARK · Mar 2023: +38.8% vs market
BLUESTARCO · Nov 2023: +43.0% vs market
ISGEC · Jul 2023: +43.5% vs market
PCBL · Oct 2023: +47.8% vs market
CEMPRO · Oct 2025: +65.0% vs market
FSL · Jun 2024: +74.7% vs market
LUMAXIND · Feb 2025: +117.8% vs market
IRCON · Jan 2023: +183.0% vs market
APLAPOLLO · Jul 2020: +202.7% vs market
Similar setups −12.4%All companies −5.8%← 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
−12.4%
All companies' median
−5.8%
Beat the market
36% vs 44%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CEATLTD
Consumer Durables		 Mar 2025 24x20% +7%−16% +16%
JSL
Non-Energy Minerals		 Oct 2025 24x18% +12%−7% −6%
GODREJAGRO
Process Industries		 Jul 2024 46x14% +75%−2% +6%
BIRLACORPN
Non-Energy Minerals		 Jul 2021 18x12% +149%−1% −39%
FSL
Commercial Services		 Jun 2024 28x16% +65%−4% +75%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GLENMARK
Health Technology		 Mar 2023 14x16% +5%−3% +39%
APOLLOTYRE
Consumer Durables		 Jan 2024 33x10% +68%0% −25%
EIDPARRY
Process Industries		 Aug 2025 23x17% +36%−9% −34%
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, debt/equity and 12-month momentum. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 KALPATARU PROJECTS INTL. 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

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.

CEATCEATLTD
Consumer Durables
75%similar
revenueoperating margin
MRFMRF
Consumer Durables
69%similar
revenueP/E
LT FOODSLTFOODS
Process Industries
67%similar
ROCErevenue growth
MEDPLUS HEALTH SERVICESMEDPLUS
Retail Trade
65%similar
volatilityrevenue growth
TIME TECHNOPLASTTIMETECHNO
Process Industries
65%similar
ROCEP/E
KEC INTERNATIONAL LTD (FORMERKEC
Industrial Services
61%similar
revenueROCE
LARSEN AND TOUBROLT
Industrial Services
56%similar
revenuerevenue growth
POWER MECH PROJECTSPOWERMECH
Industrial Services
55%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 Mar '23

  1. AugPriceVolume reached 26.0x its 50-day median on 2026-08-12; price +3.6% that day.
  2. JunPriceRegained the 2024-09 peak, 15 months after the low.
  3. JunPeer rankMoved into the 2nd quartile of Industrial Services on ROCE (from the 3rd quartile).
  4. JunPriceVolume reached 17.3x its 50-day median on 2026-06-16; price +4.7% that day.
  5. MarPriceVolume reached 8.7x its 50-day median on 2026-03-17; price -3.1% that day.
  6. NovPriceVolume reached 7.2x its 50-day median on 2025-11-04; price +3.2% that day.
  7. SepPeer rankMoved into the top quartile of Industrial Services on EPS growth (from the 2nd quartile).
  8. AugPriceVolume reached 38.3x its 50-day median on 2025-08-08; price +6.4% that day.
Show 22 earlier events
  1. JulPeer rankMoved into the 2nd quartile of Industrial Services on EPS growth (from the 3rd quartile).
  2. JunSharesShare count is up 6.2% over 12 months.
  3. JunPriceVolume reached 9.6x its 50-day median on 2025-06-09; price +3.3% that day.
  4. MarPriceFell 40% from the Sep 2024 peak to the Mar 2025 low.
  5. MarPriceVolume reached 24.2x its 50-day median on 2025-03-07; price +1.5% that day.
  6. DecPriceVolume reached 16.5x its 50-day median on 2024-12-05; price +7.1% that day.
  7. SepPromoterPromoter holding fell 5.4 pts to 35.2%.
  8. SepInstitutionsFII + DII holding rose 4.2 pts over 2 quarters to 55.7%.
  9. AugPeer rankSlipped to the 3rd quartile of Industrial Services on ROCE (from the 2nd quartile).
  10. JulPriceVolume reached 5.5x its 50-day median on 2024-07-10; price +3.2% that day.
  11. JunResultsYear-on-year EPS growth turned positive.
  12. JunPeer rankMoved into the 3rd quartile of Industrial Services on EPS growth (from the bottom quartile).
  13. JunPriceVolume reached 19.3x its 50-day median on 2024-06-18; price -4.5% that day.
  14. FebPriceVolume reached 18.2x its 50-day median on 2024-02-14; price +10.2% that day.
  15. DecPriceVolume reached 25.1x its 50-day median on 2023-12-29; price +7.8% that day.
  16. AugPriceVolume reached 10.2x its 50-day median on 2023-08-04; price -3.9% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹16,361 cr.
  18. JunValuationP/E crossed above the 90th percentile of its own history to date (19.8x).
  19. JunPeer rankSlipped to the bottom quartile of Industrial Services on EPS growth (from the 3rd quartile).
  20. JunSharesShare count is up 6.7% over 12 months.
  21. MayPriceVolume reached 25.1x its 50-day median on 2023-05-30; price +2.9% that day.
  22. MarPriceVolume reached 9.0x its 50-day median on 2023-03-17; price +1.5% 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
2026-1120.6x₹27380 cr14.6%18.0%0.5x
2026-1020.1x₹27380 cr14.5%18.0%0.5x
2026-0920.7x₹27380 cr14.5%18.0%0.5x
2026-0823.0x₹27143 cr13.3%18.0%0.5x
2026-0721.2x₹27143 cr13.3%18.0%0.5x
2026-0622.5x₹27143 cr13.3%18.0%0.5x
2026-0526.8x₹26432 cr12.6%16.0%0.7x
2026-0425.7x₹26432 cr12.6%16.0%0.7x
2026-0321.7x₹26432 cr12.6%16.0%0.7x
2026-0225.8x₹25499 cr12.4%16.0%0.7x
2026-0123.8x₹25499 cr12.4%16.0%0.7x
2025-1225.0x₹25499 cr12.4%16.0%0.7x
2025-1128.7x₹23900 cr10.7%16.0%0.7x
2025-1030.1x₹23900 cr10.7%16.0%0.7x
2025-0930.1x₹23900 cr10.7%16.0%0.7x
2025-0835.7x₹22316 cr8.7%16.0%0.7x
2025-0732.8x₹22316 cr8.7%16.0%0.7x
2025-0635.1x₹22316 cr8.7%16.0%0.7x
2025-0535.7x₹21220 cr10.1%16.0%0.8x
2025-0430.5x₹21220 cr10.1%16.0%0.8x
2025-0330.6x₹21220 cr10.1%16.0%0.8x
2025-0227.3x₹20384 cr10.2%16.0%0.8x
2025-0132.8x₹20384 cr10.2%16.0%0.8x
2024-1240.2x₹20384 cr10.2%16.0%0.8x
2024-1138.0x₹19972 cr9.5%16.0%0.8x
2024-1042.5x₹19972 cr9.5%16.0%0.8x
2024-0945.6x₹19972 cr9.5%16.0%0.8x
2024-0843.0x₹19626 cr10.0%16.0%0.8x
2024-0743.7x₹19626 cr10.0%16.0%0.8x
2024-0637.5x₹19626 cr10.0%16.0%0.8x
2024-0544.1x₹16361 cr9.2%14.0%0.8x
2024-0445.2x₹16361 cr9.2%14.0%0.8x
2024-0339.4x₹16361 cr9.2%14.0%0.8x
2024-0235.6x₹16361 cr9.2%14.0%0.8x
2024-0129.3x₹16361 cr9.2%14.0%0.8x
2023-1226.1x₹16361 cr9.2%14.0%0.8x
2023-1124.4x₹16361 cr9.2%14.0%0.8x
2023-1024.4x₹16361 cr9.2%14.0%0.8x
2023-0923.3x₹16361 cr9.2%14.0%0.8x
2023-0824.3x₹16361 cr9.2%14.0%0.8x
2023-0723.4x₹16361 cr9.2%14.0%0.8x
2023-0619.8x₹16361 cr9.2%14.0%0.8x
2023-0514.8x₹14777 cr12.5%13.0%0.9x
2023-0414.9x₹14777 cr12.5%13.0%0.9x
2023-0314.7x₹14777 cr12.5%13.0%0.9x
2023-0214.6x₹14777 cr12.5%13.0%0.9x
2023-0114.2x₹14777 cr12.5%13.0%0.9x
2022-1215.4x₹14777 cr12.5%13.0%0.9x
2022-1114.0x₹14777 cr12.5%13.0%0.9x
2022-1013.1x₹14777 cr12.5%13.0%0.9x
2022-0911.6x₹14777 cr12.5%13.0%0.9x
2022-0811.3x₹14777 cr12.5%13.0%0.9x
2022-0710.2x₹14777 cr12.5%13.0%0.9x
2022-069.8x₹14777 cr12.5%13.0%0.9x
2022-058.0x₹12949 cr17.7%18.0%0.9x
2022-048.0x₹12949 cr17.7%18.0%0.9x
2022-038.1x₹12949 cr17.7%18.0%0.9x
2022-028.7x₹12949 cr17.7%18.0%0.9x
2022-018.9x₹12949 cr17.7%18.0%0.9x
2021-128.3x₹12949 cr17.7%18.0%0.9x

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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