52-week range
Price risk
Balance sheet & cash
Was the rally earned?
Mostly earnings.
- Per-share earnings took off 336 points, while the multiple moved less (P/E 0.6x to 25.7x).
- 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.
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.
What is the price implying?
At a P/E of 24.6x, the price would imply about 17.7%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Fewer than six years of annual earnings are available, which is too little to measure delivered growth.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Non-Energy Minerals The market-wide Expectations lists
What changed?
- Sep '26Promoter holding fell 4.8 pts to 40.0%.
- Sep '26Slipped to the bottom quartile of Non-Energy Minerals on operating margin (from the top quartile).
- Jun '26Promoter holding fell 2.3 pts to 44.9%.
- Jun '26Moved into the top quartile of Non-Energy Minerals on operating margin (from the bottom quartile).
- Jun '26Share count is up 5.1% over 12 months.
- Mar '26Slipped to the bottom quartile of Non-Energy Minerals on operating margin (from the top quartile).
- Dec '25EPS (TTM) turned positive.
- Feb '21Debt / equity halved over 12 months to 0.15x.
Show 8 earlier events
- Jul '20Debt / equity halved over 12 months to 0.15x.
- Jun '20Slipped to the bottom quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
- Jun '20Debt / equity fell below 1.0x (0.15x).
- Mar '20Fell 98% from the Jan 2019 peak to the Mar 2020 low.
- Jun '19EPS (TTM) turned negative.
- Jun '19Slipped to the 3rd quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
- Jun '19Debt / equity rose above 1.0x (1.70x).
- Jun '19Dividend payout cut from 5% to 0% of profit.
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
Are profits backed by cash?
2 of 5 checks are within range, 1 near a threshold, 2 beyond a threshold.
Tap a check to see how it is measured.
Other income reliance191%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 190.6%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate0%Beyond threshold
Median quarterly effective tax rate over about 2.5 years: 0.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion—Not enough data
Not enough reported data to compute this.
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-191 daysWithin range
Debtor days are below the median of the previous three fiscal years by 191 days (19 vs 210). 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—Not enough data
Not enough reported data to compute this.
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, promoters trimmed 7.1 pts; FIIs trimmed 4.4 pts.
- The number of shareholders rose from 29,763 to 31,472 (+6%) 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.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-97.6% (2019-01 peak to 2020-03 low, not yet recovered)
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).
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 happened next to similar setups
- We found 50 past situations where a non-financial company looked like KRIDHAN INFRA LIMITED today on valuation, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −17% to +31% vs the market, against −3% for all non-financial companies in the same months.
- The gap against the base rate (+7.9%, 80% range −0.9% to +12.9%) 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 · 2 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 34 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| NILASPACES Consumer Durables |
Apr 2020 | 12x | 5% | −56% | −63% | +7% |
| HYBRIDFIN Finance |
Feb 2024 | 55x | 4% | −9% | −20% | +32% |
| AMJLAND Finance |
Apr 2022 | 26x | 5% | +16% | −29% | −16% |
| SIL Process Industries |
Sep 2021 | 30x | 40% | +53% | −30% | +51% |
| UMESLTD Producer Manufacturing |
Jul 2025 | 46x | 3% | −32% | −34% | −14% |
Show the other 3 matches
How reliable is this?
Matched on P/E, P/S, operating margin, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: P/E, 12-month momentum and drawdown from 12-month high. Not used (unavailable for this company): ROCE and debt/equity. 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.
Monthly history (94 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 24.6x | ₹3 cr | — | — | — |
| 2026-09 | 20.9x | ₹3 cr | — | — | — |
| 2026-08 | 9.1x | ₹3 cr | — | — | — |
| 2026-07 | 10.6x | ₹3 cr | — | — | — |
| 2026-06 | 12.5x | ₹3 cr | — | — | — |
| 2026-05 | 4.5x | ₹6 cr | — | — | — |
| 2026-04 | 3.9x | ₹6 cr | — | — | — |
| 2026-03 | 2.8x | ₹6 cr | — | — | — |
| 2026-02 | 4.9x | ₹5 cr | — | — | — |
| 2026-01 | 6.1x | ₹5 cr | — | — | — |
| 2025-12 | 6.5x | ₹5 cr | — | — | — |
| 2025-11 | — | ₹4 cr | — | — | — |
| 2025-10 | — | ₹4 cr | — | — | — |
| 2025-09 | — | ₹4 cr | — | — | — |
| 2025-08 | — | ₹3 cr | — | — | — |
| 2025-07 | — | ₹3 cr | — | — | — |
| 2025-06 | — | ₹3 cr | — | — | — |
| 2025-05 | — | ₹1 cr | — | — | — |
| 2025-04 | — | ₹1 cr | — | — | — |
| 2025-03 | — | ₹1 cr | — | — | — |
| 2025-02 | — | ₹1 cr | — | — | — |
| 2025-01 | — | ₹1 cr | — | — | — |
| 2024-12 | — | ₹1 cr | — | — | — |
| 2024-11 | — | ₹1 cr | — | — | — |
| 2024-10 | — | ₹1 cr | — | — | — |
| 2024-09 | — | ₹1 cr | — | — | — |
| 2024-08 | — | ₹1 cr | — | — | — |
| 2024-07 | — | ₹1 cr | — | — | — |
| 2024-06 | — | ₹1 cr | — | — | — |
| 2024-05 | — | ₹6 cr | — | — | — |
| 2024-04 | — | ₹6 cr | — | — | — |
| 2024-03 | — | ₹6 cr | — | — | — |
| 2024-02 | — | ₹6 cr | — | — | — |
| 2024-01 | — | ₹6 cr | — | — | — |
| 2023-12 | — | ₹6 cr | — | — | — |
| 2023-11 | — | ₹6 cr | — | — | — |
| 2023-10 | — | ₹6 cr | — | — | — |
| 2023-09 | — | ₹6 cr | — | — | — |
| 2023-08 | — | ₹6 cr | — | — | — |
| 2023-07 | — | ₹6 cr | — | — | — |
| 2023-06 | — | ₹6 cr | — | — | — |
| 2023-05 | — | ₹17 cr | — | — | — |
| 2023-04 | — | ₹17 cr | — | — | — |
| 2023-03 | — | ₹17 cr | — | — | — |
| 2023-02 | — | ₹17 cr | — | — | — |
| 2023-01 | — | ₹17 cr | — | — | — |
| 2022-12 | — | ₹17 cr | — | — | — |
| 2022-11 | — | ₹17 cr | — | — | — |
| 2022-10 | — | ₹17 cr | — | — | — |
| 2022-09 | — | ₹17 cr | — | — | — |
| 2022-08 | — | ₹17 cr | — | — | — |
| 2022-07 | — | ₹17 cr | — | — | — |
| 2022-06 | — | ₹17 cr | — | — | — |
| 2022-05 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2022-04 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2022-03 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2022-02 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2022-01 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-12 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-11 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-10 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-09 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-08 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-07 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-06 | — | ₹28 cr | -26.1% | 0.5% | 0.2x |
| 2021-05 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2021-04 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2021-03 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2021-02 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2021-01 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-12 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-11 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-10 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-09 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-08 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-07 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-06 | — | ₹19 cr | -24.0% | 0.3% | 0.1x |
| 2020-05 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2020-04 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2020-03 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2020-02 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2020-01 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-12 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-11 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-10 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-09 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-08 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-07 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-06 | — | ₹727 cr | -249.3% | 7.9% | 1.7x |
| 2019-05 | 6.2x | ₹712 cr | 8.3% | 10.6% | 0.5x |
| 2019-04 | 8.7x | ₹712 cr | 8.3% | 10.6% | 0.5x |
| 2019-03 | 10.3x | ₹712 cr | 8.3% | 10.6% | 0.5x |
| 2019-02 | 8.7x | ₹712 cr | 8.3% | 10.6% | 0.5x |
| 2019-01 | 9.5x | ₹712 cr | 8.3% | 10.6% | 0.5x |