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LINCOLN PHARMACEUTICALS LTD (LINCOLN)

Health Technology · Pharmaceuticals: Major · 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.66 / 100
Profitability 52Growth 46Balance 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.39 / 100
Price 32Earnings 45FII/DII 40

Passes these screensCash RichValue PickDebt-light & profitable

Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIESTORRENT PHARMACEUTICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹520.85 latest close · −16.0% over the last 90 sessions

₹500₹550₹600₹650Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹500₹550₹600₹650Jul 3Sep 4Nov 9

₹520.85 month-end · +1.7% over 12 months

₹500₹600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹500₹600Nov '25May '26Nov '26

₹520.85 month-end · −22.6% over 3 years

₹500₹600₹700₹800Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹500₹600₹700₹800Nov '23May '25Nov '26

₹520.85 month-end · +175.9% since Jan '19

₹200₹400₹600₹800Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹200₹400₹600₹800Jan '19Dec '22Nov '26

52-week range ₹440.00 to ₹770.00 · 1-year volatility 42.2%

Was the rally earned?

+2%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (+2%).
  • The share count barely moved.
Net profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11 ptsNet profit growthP/E change: −9 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−9 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: +2%+2%Share priceNet profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11ProfitP/E change: −9 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−9P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +2%+2%Share price
Net profit growth+11 ptsNet profit rose about 11%, which lifts the price.
P/E change-9 ptsThe P/E fell from 11.9x to 10.8x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-23%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 25 points, but investors now pay less per rupee of profit (P/E 18.5x to 10.8x), which took 47 points back.
  • The share count barely moved.
Net profit growth: +25 pts. Points of the price return explained by net profit growing (or shrinking).+25 ptsNet profit growthP/E change: −47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−47 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: −23%−23%Share priceNet profit growth: +25 pts. Points of the price return explained by net profit growing (or shrinking).+25ProfitP/E change: −47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−47P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −23%−23%Share price
Net profit growth+25 ptsNet profit rose about 32%, which lifts the price.
P/E change-47 ptsThe P/E fell from 18.5x to 10.8x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+61%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 56 points to the rise, while the multiple moved less (P/E 10.4x to 10.8x).
  • The share count barely moved.
Net profit growth: +57 pts. Points of the price return explained by net profit growing (or shrinking).+57 ptsNet profit growthP/E change: +5 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+5 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: +61%+61%Share priceNet profit growth: +57 pts. Points of the price return explained by net profit growing (or shrinking).+57ProfitP/E change: +5 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+5P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +61%+61%Share price
Net profit growth+57 ptsNet profit rose about 56%, which lifts the price.
P/E change+5 ptsThe P/E rose from 10.4x to 10.8x, which lifts 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 SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-59.6%recovered 2020-08
1-year volatility42.2%annualised
Beta vs sector index0.973-year daily, correlation 0.34
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−55.1% 0%−20%−40%2020202220242026−55.1%
Largest drawdowns

-59.6% (2019-01 peak to 2020-03 low, recovered 2020-08)

-53.4% (2024-12 peak to 2026-01 low, not yet recovered)

-35.8% (2021-09 peak to 2022-05 low, recovered 2023-05)

Most recent volume spikes

2026-10-29: 18.5x the 50-day median, price -8.6% that day

2026-08-13: 39.3x the 50-day median, price +4.5% 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?

10.8xP/E todayWithin its usual range
Against its own history46th percentile
CheapestMedian 11.0xDearest

Usual range 6.9x to 15.1x since 2019-01.

Against Health Technology10.8x vs 37.0x
This company
10.8x
Sector median
37.0x

71% below the Health Technology median.

5.3x18.1x30.8x43.5xJan '19Aug '20Mar '22Oct '23May '25Nov '265.3x18.1x30.8x43.5xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Health Technology peers?

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

  • ROCE59th▼ 3 pts vs a year ago
  • Op. margin44thflat vs a year ago
  • Revenue growth45thflat vs a year ago
  • EPS growth56th▲ 28 pts vs a year ago
  • Debt/equity ↓93rd▼ 5 pts vs a year ago
  • Cash cycle ↓77th▲ 9 pts vs a year ago
  • P/E ↓92ndflat vs a year ago
  • 12M momentum45th▼ 3 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 Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~8%annual earnings growth implied by the priceBelow delivered growth

At P/E of 10.8x, a holder earning 12%/yr needs earnings to grow about 8.1%/yr for 10 years, then trade at 15x.

Delivered13.3%/yrEPS, last 10 fiscal years · fitted trend
Gap−5.3 ptsimplied minus delivered
Rank632ndmost demanding of 856

Over time

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

0%10%21% Jan 2019Nov 2026 0%10%21% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x9.5%10.5%11.4%
15x7.1%8.1%9.0%
20x4.1%5.0%6.0%

Drag a slider to test other assumptions

Implied: 8.1%/yr

Looking back

  • Jan 2020Price implied 10%/yr; EPS has since grown 9%/yr (7.0 yrs)
  • Jan 2021Price implied 9%/yr; EPS has since grown 10%/yr (6.0 yrs)
  • Jan 2022Price implied 12%/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 Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹520.85
P/E
10.8x
ROCE
16.0%
Market Cap
₹1044 cr
Revenue (TTM)
₹693 cr
P/S
1.5x
P/B
1.4x
ROE
12.7%
Operating Margin
15.0%
Debt / Equity
0.0x
Promoter Holding
49.8%
12M Momentum
1.7%

52-week range

₹440.00₹770.00
25% of the way from its 52-week low to its high

Price risk

1Y volatility
42.2%
Beta vs sector
1-year daily
0.83

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
1.00x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance33%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 32.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.00xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.00x (cash from operations ₹262 cr, net profit ₹263 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history-10 daysWithin range

Debtor days are below the median of the previous three fiscal years by 10 days (88 vs 98). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress3% of fixed assetsWithin range

Capital work-in-progress is 3% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+5 days / 2 yrsWithin range

Days payable changed by +5 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, FIIs added 2.0 pts; promoters trimmed 0.8 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters50.5%49.8%-0.8 pts
FIIs2.6%4.6%+2.0 pts
DIIs0.0%0.3%+0.3 pts
Public and others46.9%45.4%-1.5 pts

Number of shareholders

29,396shareholders+3% since Sep '23
28k30k31k32k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 28,670
Dec '23: 29,316
Mar '24: 31,375
Jun '24: 29,967
Sep '24: 31,330
Dec '24: 31,848
Mar '25: 31,867
Jun '25: 31,784
Sep '25: 32,370
Dec '25: 31,026
Mar '26: 28,303
Jun '26: 29,396
 28k30k31k32k Sep '23Sep '24Sep '25Jun '26
Sep '23: 28,670
Dec '23: 29,316
Mar '24: 31,375
Jun '24: 29,967
Sep '24: 31,330
Dec '24: 31,848
Mar '25: 31,867
Jun '25: 31,784
Sep '25: 32,370
Dec '25: 31,026
Mar '26: 28,303
Jun '26: 29,396

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

−0.1%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 LINCOLN PHARMACEUTICALS 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 +23% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+3.5%, 80% range −6.5% to +8.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
TOLINS · Sep 2025: −50.9% vs market
BHAGERIA · Mar 2022: −44.6% vs market
IOLCP · Nov 2023: −36.9% vs market
TVTODAY · Jul 2022: −35.6% vs market
EKC · Jan 2025: −34.4% vs market
EXCELINDUS · Oct 2022: −34.2% vs market
AIRAN · Oct 2024: −33.8% vs market
ALBERTDAVD · Apr 2024: −32.1% vs market
NUCLEUS · Oct 2025: −31.7% vs market
INTENTECH · Apr 2024: −27.6% vs market
ANDHRSUGAR · Sep 2022: −26.9% vs market
PPAP · May 2020: −26.6% vs market
AMBIKCO · May 2022: −26.4% vs market
CYBERTECH · Mar 2025: −23.7% vs market
BALMLAWRIE · Jun 2024: −22.4% vs market
SHREDIGCEM · Oct 2023: −22.3% vs market
VARDHACRLC · Aug 2021: −18.9% vs market
BEPL · Apr 2025: −16.6% vs market
INDOBORAX · May 2023: −15.3% vs market
TNPETRO · May 2021: −9.2% vs market
SANDESH · Feb 2020: −8.8% vs market
INSECTICID · Feb 2025: −8.6% vs market
VEEDOL · Mar 2024: −5.7% vs market
EXPLEOSOL · Oct 2025: −5.0% vs market
INDRAMEDCO · Dec 2020: −1.3% vs market
BANCOINDIA · Oct 2021: +1.1% vs market
PODDARMENT · Nov 2020: +4.1% vs market
SASKEN · Oct 2023: +4.6% vs market
MPSLTD · Mar 2021: +5.5% vs market
INDNIPPON · Dec 2024: +9.6% vs market
MAZDA · Jul 2023: +10.0% vs market
KSCL · Nov 2023: +10.5% vs market
AEROENTER · Jul 2025: +10.7% vs market
BLISSGVS · Dec 2023: +12.4% vs market
FMGOETZE · Oct 2025: +17.0% vs market
DLINKINDIA · Jul 2020: +18.4% vs market
MAITHANALL · May 2021: +21.5% vs market
HONDAPOWER · Jul 2023: +23.6% vs market
GNFC · Dec 2021: +24.9% vs market
AVANTIFEED · Nov 2024: +32.5% vs market
LGBBROSLTD · Mar 2022: +45.5% vs market
KSL · May 2020: +49.6% vs market
EVERESTIND · Apr 2022: +52.3% vs market
SHARDACROP · Apr 2021: +67.6% vs market
GOLDIAM · Jul 2024: +93.0% vs market
CONTROLPR · Dec 2022: +95.5% vs market
WINDLAS · Oct 2023: +139.2% vs market
RAILTEL · May 2023: +143.8% vs market
MANALIPETC · Jun 2020: +172.8% vs market
ACCENTMIC · Sep 2025: +173.9% vs market
Similar setups −0.1%All companies −3.6%← 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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
−0.1%
All companies' median
−3.6%
Beat the market
50% vs 46%

50 past situations · 50 companies · 38 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ALBERTDAVD
Health Technology		 Apr 2024 19x17% +97%−22% −32%
WINDLAS
Health Technology		 Oct 2023 17x14% +48%−16% +139%
VARDHACRLC
Consumer Non-Durables		 Aug 2021 11x15% +117%−21% −19%
KSL
Non-Energy Minerals		 May 2020 5x20% −36%−46% +50%
AMBIKCO
Process Industries		 May 2022 15x17% +62%−34% −26%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MAZDA
Producer Manufacturing		 Jul 2023 13x21% +55%−11% +10%
TVTODAY
Consumer Services		 Jul 2022 9x22% −5%−36% −36%
AVANTIFEED
Process Industries		 Nov 2024 21x20% +50%−24% +33%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, size and P/E. Not used (unavailable for this company): interest cover. 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 LINCOLN PHARMACEUTICALS 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.

MAZDAMAZDA
Producer Manufacturing
65%similar
ROCEpromoter holding
ADVANCED ENZYME TECHNOADVENZYMES
Consumer Non-Durables
60%similar
revenuerevenue growth
CONTROL PRINT (INDIA)CONTROLPR
Electronic Technology
60%similar
ROCEmarket cap
IRM ENERGYIRMENERGY
Energy Minerals
58%similar
market cappromoter holding
TALBROS AUTOMOTIVE COMPONENTSTALBROAUTO
Producer Manufacturing
58%similar
volatilityrevenue growth
CONCORD BIOTECHCONCORDBIO
Health Technology
49%similar
debt/equityROCE
WINDLAS BIOTECHWINDLAS
Health Technology
48%similar
ROCErevenue
SYNCOM FORMULATIONS (INDIA) LTSYNCOMF
Health Technology
40%similar
debt/equitypromoter holding

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

What changed?

30 events since May '23

  1. OctPriceVolume reached 18.5x its 50-day median on 2026-10-29; price -8.6% that day.
  2. AugPriceVolume reached 39.3x its 50-day median on 2026-08-13; price +4.5% that day.
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the 2nd quartile of Health Technology on EPS growth (from the 3rd quartile).
  5. AprPriceVolume reached 95.8x its 50-day median on 2026-04-29; price +4.2% that day.
  6. FebValuationP/E crossed above the 90th percentile of its own history to date (15.8x).
  7. FebPriceVolume reached 106.6x its 50-day median on 2026-02-12; price +16.4% that day.
  8. JanPriceFell 53% from the Dec 2024 peak to the Jan 2026 low.
Show 22 earlier events
  1. NovPriceVolume reached 11.7x its 50-day median on 2025-11-13; price -4.5% that day.
  2. AugPriceVolume reached 150.1x its 50-day median on 2025-08-07; price +13.2% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. MayPriceVolume reached 7.3x its 50-day median on 2025-05-22; price -9.2% that day.
  5. MarPeer rankSlipped to the 3rd quartile of Health Technology on operating margin (from the 2nd quartile).
  6. FebPriceVolume reached 9.5x its 50-day median on 2025-02-14; price -12.4% that day.
  7. DecValuationP/E crossed above the 90th percentile of its own history to date (16.3x).
  8. DecPeer rankMoved into the 2nd quartile of Health Technology on operating margin (from the 3rd quartile).
  9. DecPriceVolume reached 105.5x its 50-day median on 2024-12-04; price +19.8% that day.
  10. SepPriceRegained the 2024-02 peak, 3 months after the low.
  11. SepPriceVolume reached 17.7x its 50-day median on 2024-09-05; price +8.2% that day.
  12. AugValuationP/E crossed above the 90th percentile of its own history to date (15.2x).
  13. JunResultsRevenue (TTM) reached a new high of ₹581 cr.
  14. JunPriceFell 27% from the Feb 2024 peak to the Jun 2024 low.
  15. JunPeer rankSlipped to the 2nd quartile of Health Technology on ROCE (from the top quartile).
  16. MayPriceVolume reached 15.0x its 50-day median on 2024-05-16; price -4.6% that day.
  17. FebPriceVolume reached 13.1x its 50-day median on 2024-02-23; price +8.6% that day.
  18. NovPriceVolume reached 44.9x its 50-day median on 2023-11-02; price +7.7% that day.
  19. AugPriceVolume reached 11.4x its 50-day median on 2023-08-10; price +8.5% that day.
  20. JunResultsRevenue (TTM) reached a new high of ₹510 cr.
  21. MayPriceRegained the 2021-09 peak, 12 months after the low.
  22. MayPriceVolume reached 15.0x its 50-day median on 2023-05-25; price -10.8% 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
2026-1110.8x₹693 cr12.7%16.0%0.0x
2026-1010.4x₹693 cr12.8%16.0%0.0x
2026-0912.2x₹693 cr12.8%16.0%0.0x
2026-0813.8x₹670 cr11.7%16.0%0.0x
2026-0713.1x₹670 cr11.7%16.0%0.0x
2026-0614.2x₹670 cr11.7%16.0%0.0x
2026-0514.4x₹651 cr13.2%17.0%0.0x
2026-0414.7x₹651 cr13.2%17.0%0.0x
2026-0312.9x₹651 cr13.2%17.0%0.0x
2026-0215.8x₹632 cr12.1%17.0%0.0x
2026-0111.4x₹632 cr12.1%17.0%0.0x
2025-1212.1x₹632 cr12.1%17.0%0.0x
2025-1111.9x₹630 cr12.9%17.0%0.0x
2025-1012.3x₹630 cr12.9%17.0%0.0x
2025-0912.3x₹630 cr12.9%17.0%0.0x
2025-0813.1x₹623 cr12.4%17.0%0.0x
2025-0713.0x₹623 cr12.4%17.0%0.0x
2025-0613.8x₹623 cr12.4%17.0%0.0x
2025-0512.1x₹597 cr15.2%22.0%0.0x
2025-0412.7x₹597 cr15.2%22.0%0.0x
2025-0312.4x₹597 cr15.2%22.0%0.0x
2025-0210.8x₹596 cr16.4%22.0%0.0x
2025-0114.8x₹596 cr16.4%22.0%0.0x
2024-1216.3x₹596 cr16.4%22.0%0.0x
2024-1112.9x₹591 cr16.7%22.0%0.0x
2024-1013.9x₹591 cr16.7%22.0%0.0x
2024-0913.7x₹591 cr16.7%22.0%0.0x
2024-0815.2x₹581 cr15.7%22.0%0.0x
2024-0714.1x₹581 cr15.7%22.0%0.0x
2024-0613.2x₹581 cr15.7%22.0%0.0x
2024-0515.5x₹510 cr14.5%22.0%0.0x
2024-0416.6x₹510 cr14.5%22.0%0.0x
2024-0316.1x₹510 cr14.5%22.0%0.0x
2024-0218.8x₹510 cr14.5%22.0%0.0x
2024-0118.0x₹510 cr14.5%22.0%0.0x
2023-1216.7x₹510 cr14.5%22.0%0.0x
2023-1118.5x₹510 cr14.5%22.0%0.0x
2023-1013.6x₹510 cr14.5%22.0%0.0x
2023-0914.3x₹510 cr14.5%22.0%0.0x
2023-0814.3x₹510 cr14.5%22.0%0.0x
2023-0712.0x₹510 cr14.5%22.0%0.0x
2023-0611.1x₹510 cr14.5%22.0%0.0x
2023-0511.0x₹472 cr15.9%24.0%0.0x
2023-0411.3x₹472 cr15.9%24.0%0.0x
2023-039.8x₹472 cr15.9%24.0%0.0x
2023-029.5x₹472 cr15.9%24.0%0.0x
2023-019.3x₹472 cr15.9%24.0%0.0x
2022-1210.3x₹472 cr15.9%24.0%0.0x
2022-119.8x₹472 cr15.9%24.0%0.0x
2022-108.5x₹472 cr15.9%24.0%0.0x
2022-098.2x₹472 cr15.9%24.0%0.0x
2022-088.3x₹472 cr15.9%24.0%0.0x
2022-078.7x₹472 cr15.9%24.0%0.0x
2022-068.5x₹472 cr15.9%24.0%0.0x
2022-059.2x₹424 cr16.9%25.0%0.0x
2022-0410.6x₹424 cr16.9%25.0%0.0x
2022-0310.0x₹424 cr16.9%25.0%0.0x
2022-029.8x₹424 cr16.9%25.0%0.0x
2022-0111.3x₹424 cr16.9%25.0%0.0x
2021-1211.5x₹424 cr16.9%25.0%0.0x

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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