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DR. LAL PATHLABS LIMITED (LALPATHLAB)

Health Services · Medical/Nursing Services · 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.81 / 100
Profitability 87Growth 55Balance sheet 100
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.54 / 100
Price 73Earnings 51FII/DII 38

Passes these screensQuality CompounderHigh MomentumDebt-light & profitableConsistent compoundersNear 52-week high

Compare withVIJAYA DIAGNOSTIC CENTREMETROPOLIS HEALTHCARETHYROCARE TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹2,016.5 latest close · +22.5% over the last 90 sessions

₹1,800₹2,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,800₹2,000Jul 3Sep 4Nov 9

₹2,016.5 month-end · +32.2% over 12 months

₹1,250₹1,500₹1,750₹2,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,250₹1,500₹1,750₹2,000Nov '25May '26Nov '26

₹2,016.5 month-end · +49.5% over 3 years

₹1,500₹2,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,500₹2,000Nov '23May '25Nov '26

₹2,016.5 month-end · +273.9% since Jan '19

₹500₹1,000₹1,500₹2,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000₹1,500₹2,000Jan '19Dec '22Nov '26

52-week range ₹1272.60 to ₹2079.00 · 1-year volatility 28.5%

Was the rally earned?

+32%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 49.8x to 62.4x); per-share earnings added 6 points.
  • The share count barely moved.
Net profit growth: +5 pts. Points of the price return explained by net profit growing (or shrinking).+5 ptsNet profit growthP/E change: +26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+26 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +32%+32%Share priceNet profit growth: +5 pts. Points of the price return explained by net profit growing (or shrinking).+5ProfitP/E change: +26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+26P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +32%+32%Share price
Net profit growth+5 ptsNet profit rose about 5%, which lifts the price.
P/E change+26 ptsThe P/E rose from 49.8x to 62.4x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+50%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 100 points, but investors now pay less per rupee of profit (P/E 94.1x to 62.4x), which took 51 points back.
  • The share count barely moved.
Net profit growth: +100 pts. Points of the price return explained by net profit growing (or shrinking).+100 ptsNet profit growthP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +50%+50%Share priceNet profit growth: +100 pts. Points of the price return explained by net profit growing (or shrinking).+100ProfitP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +50%+50%Share price
Net profit growth+100 ptsNet profit rose about 125%, which lifts the price.
P/E change-51 ptsThe P/E fell from 94.1x to 62.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+6%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 63 points, but investors now pay less per rupee of profit (P/E 108.3x to 62.4x), which took 57 points back.
  • The share count barely moved.
Net profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63 ptsNet profit growthP/E change: −57 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−57 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +6%+6%Share priceNet profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63ProfitP/E change: −57 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−57P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +6%+6%Share price
Net profit growth+63 ptsNet profit rose about 83%, which lifts the price.
P/E change-57 ptsThe P/E fell from 108.3x to 62.4x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against 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 VIJAYA DIAGNOSTIC CENTRE

How rough has the ride been?

Maximum drawdown-57.7%not yet recovered
1-year volatility28.5%annualised
Beta vs sector index0.513-year daily, correlation 0.31
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−56.8% 0%−20%−40%−60%2020202220242026−56.8%
Largest drawdowns

-57.7% (2021-09 peak to 2023-03 low, not yet recovered)

-29.3% (2020-01 peak to 2020-03 low, recovered 2020-07)

-18.5% (2021-04 peak to 2021-05 low, recovered 2021-07)

Most recent volume spikes

2026-09-16: 7.5x the 50-day median, price -0.6% that day

2026-07-27: 9.3x the 50-day median, price +3.9% that day

2026-07-24: 6.4x the 50-day median, price +4.3% 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?

62.4xP/E todayWithin its usual range
Against its own history47th percentile
CheapestMedian 63.2xDearest

Usual range 48.0x to 93.9x since 2019-01.

Against Health Services62.4x vs 50.9x
This company
62.4x
Sector median
50.9x

22% above the Health Services median.

29.7x58.4x87.1x115.8xJan '19Aug '20Mar '22Oct '23May '25Nov '2629.7x58.4x87.1x115.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Services median

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

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

Where does it rank among Health Services peers?

Each cell is the company's percentile rank among its Health 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

  • ROCE88th▼ 7 pts vs a year ago
  • Op. margin86th▲ 3 pts vs a year ago
  • Revenue growth27th▼ 5 pts vs a year ago
  • EPS growth38th▼ 42 pts vs a year ago
  • Debt/equity ↓87th▲ 5 pts vs a year ago
  • Cash cycle ↓80th▲ 4 pts vs a year ago
  • P/E ↓35th▼ 31 pts vs a year ago
  • 12M momentum86th▲ 38 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 Health Services sector page Watch it move against Health Services in the Observatory

What is the price implying?

~32%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 86.9x, a holder earning 12%/yr needs earnings to grow about 31.7%/yr for 10 years, then trade at 15x.

Delivered14.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+17.3 ptsimplied minus delivered
Rank194thmost demanding of 856

Over time

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

0%18%36% Jan 2019Nov 2026 0%18%36% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x33.2%34.4%35.6%
15x30.5%31.7%32.9%
20x27.1%28.3%29.4%

Drag a slider to test other assumptions

Implied: 31.7%/yr

Looking back

  • Jan 2020Price implied 31%/yr; EPS has since grown 14%/yr (7.0 yrs)
  • Jan 2021Price implied 32%/yr; EPS has since grown 14%/yr (6.0 yrs)
  • Jan 2022Price implied 32%/yr; EPS has since grown 12%/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 Health Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹2016.50
P/E
62.4x
ROCE
28.0%
Market Cap
₹33854 cr
Revenue (TTM)
₹2892 cr
P/S
11.7x
P/B
13.5x
ROE
21.6%
Operating Margin
31.0%
Debt / Equity
0.1x
Promoter Holding
53.2%
12M Momentum
32.1%

52-week range

₹1272.60₹2079.00
92% of the way from its 52-week low to its high

Price risk

1Y volatility
28.5%
Beta vs sector
1-year daily
0.62

Balance sheet & cash

Interest cover
operating profit ÷ interest
30.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.28x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance10%Within range

Other income as a share of pre-tax profit (trailing twelve months): 10.5%. 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 conversion1.28xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.28x (cash from operations ₹1,740 cr, net profit ₹1,364 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+2 daysWithin range

Debtor days are above the median of the previous three fiscal years by 2 days (15 vs 13). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-28 days / 2 yrsWithin range

Days payable changed by -28 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, DIIs added 12.7 pts; FIIs trimmed 7.0 pts; promoters trimmed 1.4 pts.
  • The number of shareholders fell from 1.6 lakh to 1.1 lakh (-31%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters54.6%53.2%-1.4 pts
FIIs24.4%17.4%-7.0 pts
DIIs8.8%21.6%+12.7 pts
Public and others11.5%7.5%-4.0 pts

Number of shareholders

1.1 lakhshareholders-31% since Sep '23
1.1L1.3L1.4L1.6L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 1.6 lakh
Dec '23: 1.5 lakh
Mar '24: 1.5 lakh
Jun '24: 1.3 lakh
Sep '24: 1.2 lakh
Dec '24: 1.2 lakh
Mar '25: 1.2 lakh
Jun '25: 1.2 lakh
Sep '25: 1.1 lakh
Dec '25: 1.2 lakh
Mar '26: 1.1 lakh
Jun '26: 1.1 lakh
 1.1L1.3L1.4L1.6L Sep '23Sep '24Sep '25Jun '26
Sep '23: 1.6 lakh
Dec '23: 1.5 lakh
Mar '24: 1.5 lakh
Jun '24: 1.3 lakh
Sep '24: 1.2 lakh
Dec '24: 1.2 lakh
Mar '25: 1.2 lakh
Jun '25: 1.2 lakh
Sep '25: 1.1 lakh
Dec '25: 1.2 lakh
Mar '26: 1.1 lakh
Jun '26: 1.1 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

−17.7%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like DR. LAL PATHLABS 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 −28% to −3% vs the market, against +1% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −18.8%, 80% range −26.0% to −14.6%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%
NAVINFLUOR · Apr 2023: −52.3% vs market
NATCOPHARM · Sep 2020: −42.6% vs market
LTTS · Dec 2021: −36.5% vs market
COFORGE · Dec 2021: −36.4% vs market
GLAXO · Mar 2020: −36.3% vs market
AIAENG · May 2020: −33.5% vs market
CRISIL · Jun 2025: −32.7% vs market
POLYMED · Oct 2024: −32.2% vs market
CENTURYPLY · Mar 2022: −31.5% vs market
3MINDIA · Dec 2023: −30.7% vs market
RELAXO · Oct 2021: −30.0% vs market
AFFLE · Jun 2025: −29.1% vs market
SYNGENE · Dec 2020: −28.2% vs market
MANKIND · Dec 2024: −27.8% vs market
SUMICHEM · Sep 2022: −27.6% vs market
CROMPTON · Jan 2021: −27.1% vs market
UBL · Mar 2020: −24.8% vs market
PAGEIND · Apr 2025: −24.4% vs market
GRINDWELL · Jul 2023: −24.3% vs market
EMAMILTD · Jan 2021: −24.2% vs market
SONACOMS · Dec 2023: −21.5% vs market
MARICO · May 2020: −20.6% vs market
UNITDSPR · Apr 2025: −20.5% vs market
ERIS · May 2020: −18.5% vs market
KANSAINER · Feb 2020: −18.1% vs market
ABBOTINDIA · Mar 2023: −17.3% vs market
TTKPRESTIG · Mar 2020: −17.1% vs market
BERGEPAINT · Sep 2020: −15.3% vs market
SFL · Apr 2020: −13.1% vs market
DABUR · Jan 2020: −12.8% vs market
CARBORUNIV · Apr 2023: −10.7% vs market
POLYCAB · Sep 2023: −10.3% vs market
KAJARIACER · Aug 2021: −7.5% vs market
PIDILITIND · Jan 2020: −7.2% vs market
CERA · Mar 2020: −6.0% vs market
INGERRAND · Mar 2023: −5.4% vs market
GARFIBRES · Sep 2020: −4.4% vs market
PIIND · May 2020: −2.4% vs market
MEDANTA · Aug 2025: 0% vs market
THYROCARE · Mar 2020: +1.1% vs market
HAVELLS · Aug 2021: +2.4% vs market
FINEORG · Feb 2022: +8.9% vs market
ATUL · May 2020: +9.4% vs market
PERSISTENT · Aug 2024: +11.3% vs market
SUPREMEIND · Feb 2020: +12.9% vs market
BALKRISIND · Jan 2020: +24.7% vs market
ASTRAL · Dec 2020: +26.1% vs market
CUMMINSIND · Jun 2023: +39.3% vs market
DIVISLAB · Jan 2020: +45.0% vs market
KFINTECH · Apr 2024: +57.1% vs market
Similar setups −17.7%All companies +1.1%← 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

Similar setups' median
−17.7%
All companies' median
+1.1%
Beat the market
22% vs 51%

50 past situations · 50 companies · 27 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SUPREMEIND
Producer Manufacturing		 Feb 2020 37x28% +16%−6% +13%
EMAMILTD
Consumer Non-Durables		 Jan 2021 72x18% +64%0% −24%
ERIS
Health Technology		 May 2020 24x26% −5%−17% −19%
ATUL
Process Industries		 May 2020 31x27% +12%−16% +9%
KAJARIACER
Producer Manufacturing		 Aug 2021 61x21% +169%−1% −8%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ABBOTINDIA
Health Technology		 Mar 2023 57x38% +25%−1% −17%
CROMPTON
Producer Manufacturing		 Jan 2021 54x35% +50%−2% −27%
SFL
Process Industries		 Apr 2020 54x28% +9%−12% −13%
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: P/E, debt/equity and size. 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 DR. LAL PATHLABS 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.

AJANTA PHARMAAJANTPHARM
Health Technology
71%similar
market capdebt/equity
HDFC ASSET MANAGEMENT COHDFCAMC
Finance
66%similar
promoter holdingEPS growth
DIVIS LABORATORIESDIVISLAB
Health Technology
65%similar
revenue growthpromoter holding
BHARAT ELECTRONICSBEL
Electronic Technology
64%similar
EPS growthpromoter holding
GLENMARK PHARMACEUTICALSGLENMARK
Health Technology
64%similar
volatilitydebt/equity
METROPOLIS HEALTHCAREMETROPOLIS
Health Services
66%similar
P/Evolatility
GLOBAL HEALTHMEDANTA
Health Services
57%similar
market capP/E
VIJAYA DIAGNOSTIC CENTREVIJAYA
Health Services
54%similar
promoter holdingEPS growth

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

What changed?

30 events since Nov '21

  1. SepPeer rankMoved into the top quartile of Health Services on operating margin (from the 2nd quartile).
  2. JulPriceVolume reached 9.3x its 50-day median on 2026-07-27; price +3.9% that day.
  3. JunPeer rankSlipped to the 2nd quartile of Health Services on operating margin (from the top quartile).
  4. MayPriceVolume reached 32.0x its 50-day median on 2026-05-04; price +15.1% that day.
  5. DecValuationP/E fell below the 10th percentile of its own history to date (46.4x).
  6. JunValuationP/E fell below the 10th percentile of its own history to date (48.0x).
  7. JunDividendStarted paying a dividend (payout 41% of profit).
  8. AprPriceVolume reached 9.4x its 50-day median on 2025-04-25; price +4.4% that day.
Show 22 earlier events
  1. FebValuationP/E fell below the 10th percentile of its own history to date (48.1x).
  2. JanPriceVolume reached 9.2x its 50-day median on 2025-01-06; price +1.9% that day.
  3. OctPriceVolume reached 7.3x its 50-day median on 2024-10-24; price -6.3% that day.
  4. SepInstitutionsFII + DII holding rose 3.2 pts over 2 quarters to 37.9%.
  5. JunResultsYear-on-year EPS growth turned positive.
  6. JunPeer rankMoved into the top quartile of Health Services on ROCE (from the 2nd quartile).
  7. JunDividendDividend payout cut from 42% to 0% of profit.
  8. MayPriceVolume reached 8.7x its 50-day median on 2024-05-13; price +6.2% that day.
  9. MarPriceVolume reached 6.0x its 50-day median on 2024-03-26; price +6.5% that day.
  10. NovPriceVolume reached 9.0x its 50-day median on 2023-11-03; price +5.3% that day.
  11. SepPriceVolume reached 5.0x its 50-day median on 2023-09-14; price +3.2% that day.
  12. JunResultsYear-on-year EPS growth turned negative.
  13. JunPeer rankSlipped to the 2nd quartile of Health Services on ROCE (from the top quartile).
  14. JunPriceVolume reached 10.2x its 50-day median on 2023-06-20; price +4.8% that day.
  15. MarPriceFell 58% from the Sep 2021 peak to the Mar 2023 low.
  16. JanValuationP/E fell below the 10th percentile of its own history to date (50.8x).
  17. DecPriceVolume reached 9.2x its 50-day median on 2022-12-21; price +6.3% that day.
  18. AugPeer rankMoved into the 3rd quartile of Health Services on EPS growth (from the bottom quartile).
  19. JunResultsRevenue (TTM) reached a new high of ₹2,087 cr.
  20. JunPeer rankSlipped to the bottom quartile of Health Services on EPS growth (from the top quartile).
  21. MayPriceVolume reached 7.0x its 50-day median on 2022-05-18; price -6.1% that day.
  22. NovValuationP/E crossed above the 90th percentile of its own history to date (108.3x).

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
2026-1162.4x₹2892 cr21.6%28.0%0.1x
2026-1058.9x₹2892 cr21.7%28.0%0.1x
2026-0961.4x₹2892 cr21.7%28.0%0.1x
2026-0864.2x₹2764 cr20.3%28.0%0.1x
2026-0763.2x₹2764 cr20.3%28.0%0.1x
2026-0654.6x₹2764 cr20.3%28.0%0.1x
2026-0550.9x₹2664 cr24.5%29.0%0.1x
2026-0443.3x₹2664 cr24.5%29.0%0.1x
2026-0341.6x₹2664 cr24.5%29.0%0.1x
2026-0243.8x₹2601 cr24.9%29.0%0.1x
2026-0144.1x₹2601 cr24.9%29.0%0.1x
2025-1246.4x₹2601 cr24.9%29.0%0.1x
2025-1149.8x₹2530 cr23.9%29.0%0.1x
2025-1051.1x₹2530 cr23.9%29.0%0.1x
2025-0950.8x₹2530 cr23.9%29.0%0.1x
2025-0856.8x₹2462 cr22.7%29.0%0.1x
2025-0754.1x₹2462 cr22.7%29.0%0.1x
2025-0648.0x₹2462 cr22.7%29.0%0.1x
2025-0555.9x₹2404 cr22.9%25.0%0.1x
2025-0455.5x₹2404 cr22.9%25.0%0.1x
2025-0349.7x₹2404 cr22.9%25.0%0.1x
2025-0248.1x₹2346 cr22.0%25.0%0.1x
2025-0159.4x₹2346 cr22.0%25.0%0.1x
2024-1262.4x₹2346 cr22.0%25.0%0.1x
2024-1165.7x₹2287 cr20.9%25.0%0.1x
2024-1068.1x₹2287 cr20.9%25.0%0.1x
2024-0972.3x₹2287 cr20.9%25.0%0.1x
2024-0879.7x₹2226 cr19.6%25.0%0.1x
2024-0772.1x₹2226 cr19.6%25.0%0.1x
2024-0664.9x₹2226 cr19.6%25.0%0.1x
2024-0592.4x₹2017 cr14.5%18.0%0.3x
2024-0482.8x₹2017 cr14.5%18.0%0.3x
2024-0379.0x₹2017 cr14.5%18.0%0.3x
2024-0282.1x₹2017 cr14.5%18.0%0.3x
2024-0187.8x₹2017 cr14.5%18.0%0.3x
2023-1289.9x₹2017 cr14.5%18.0%0.3x
2023-1194.1x₹2017 cr14.5%18.0%0.3x
2023-1084.4x₹2017 cr14.5%18.0%0.3x
2023-0988.1x₹2017 cr14.5%18.0%0.3x
2023-0875.9x₹2017 cr14.5%18.0%0.3x
2023-0781.2x₹2017 cr14.5%18.0%0.3x
2023-0678.8x₹2017 cr14.5%18.0%0.3x
2023-0549.1x₹2087 cr23.3%29.0%0.4x
2023-0447.2x₹2087 cr23.3%29.0%0.4x
2023-0344.2x₹2087 cr23.3%29.0%0.4x
2023-0248.1x₹2087 cr23.3%29.0%0.4x
2023-0150.8x₹2087 cr23.3%29.0%0.4x
2022-1254.6x₹2087 cr23.3%29.0%0.4x
2022-1159.1x₹2087 cr23.3%29.0%0.4x
2022-1061.9x₹2087 cr23.3%29.0%0.4x
2022-0960.9x₹2087 cr23.3%29.0%0.4x
2022-0862.0x₹2087 cr23.3%29.0%0.4x
2022-0755.7x₹2087 cr23.3%29.0%0.4x
2022-0652.2x₹2087 cr23.3%29.0%0.4x
2022-0559.6x₹1581 cr23.8%33.0%0.1x
2022-0474.3x₹1581 cr23.8%33.0%0.1x
2022-0374.6x₹1581 cr23.8%33.0%0.1x
2022-0271.9x₹1581 cr23.8%33.0%0.1x
2022-0184.9x₹1581 cr23.8%33.0%0.1x
2021-12109.3x₹1581 cr23.8%33.0%0.1x

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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