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L&T TECHNOLOGIES LIMITED (LTTS)

Technology Services · Information Technology 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.71 / 100
Profitability 72Growth 40Balance 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.59 / 100
Price 89Earnings 54FII/DII 34

Passes these screensDebt-light & profitable

Compare withTATA CONSULTANCY SERVICESINFOSYSHCL TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹4,202.2 latest close · +31.1% over the last 90 sessions

₹3,000₹3,500₹4,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹3,000₹3,500₹4,000Jul 3Sep 4Nov 9

₹4,202.2 month-end · −5.4% over 12 months

₹3,000₹3,500₹4,000₹4,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹3,000₹3,500₹4,000₹4,500Nov '25May '26Nov '26

₹4,202.2 month-end · −11.9% over 3 years

₹3,000₹4,000₹5,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹3,000₹4,000₹5,000Nov '23May '25Nov '26

₹4,202.2 month-end · +165.1% since Jan '19

₹2,000₹4,000₹6,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹2,000₹4,000₹6,000Jan '19Dec '22Nov '26

52-week range ₹3010.00 to ₹4726.00 · 1-year volatility 38.7%

Was the rally earned?

-5%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 4 points, but investors now pay less per rupee of profit (P/E 37.1x to 33.7x), which took 9 points back.
  • The share count barely moved.
Net profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4 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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −5%−5%Share priceNet profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4ProfitP/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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −5%−5%Share price
Net profit growth+4 ptsNet profit rose about 4%, which lifts the price.
P/E change-9 ptsThe P/E fell from 37.1x to 33.7x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-12%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 11 points, but investors now pay less per rupee of profit (P/E 43.1x to 33.7x), which took 23 points back.
  • 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: −23 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−23 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: −12%−12%Share priceNet profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11ProfitP/E change: −23 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−23P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −12%−12%Share price
Net profit growth+11 ptsNet profit rose about 13%, which lifts the price.
P/E change-23 ptsThe P/E fell from 43.1x to 33.7x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-20%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 61 points, but investors now pay less per rupee of profit (P/E 83.6x to 33.7x), which took 81 points back.
  • The share count barely moved.
Net profit growth: +61 pts. Points of the price return explained by net profit growing (or shrinking).+61 ptsNet profit growthP/E change: −81 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−81 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: −20%−20%Share priceNet profit growth: +61 pts. Points of the price return explained by net profit growing (or shrinking).+61ProfitP/E change: −81 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−81P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −20%−20%Share price
Net profit growth+61 ptsNet profit rose about 98%, which lifts the price.
P/E change-81 ptsThe P/E fell from 83.6x to 33.7x, which lowers the price.
Share count change0 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 TATA CONSULTANCY SERVICES

How rough has the ride been?

Maximum drawdown-50.0%not yet recovered
1-year volatility38.7%annualised
Beta vs sector index0.883-year daily, correlation 0.54
Volume spikes9last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−49.5% 0%−20%−40%2020202220242026−49.5%
Largest drawdowns

-50.0% (2022-01 peak to 2022-07 low, not yet recovered)

-42.6% (2019-06 peak to 2020-03 low, recovered 2020-10)

-17.5% (2019-01 peak to 2019-02 low, recovered 2019-04)

Most recent volume spikes

2026-10-29: 5.2x the 50-day median, price +2.3% that day

2026-10-27: 6.9x the 50-day median, price +3.4% that day

2026-10-26: 8.5x the 50-day median, price +3.2% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

33.8xP/E todayWithin its usual range
Against its own history37th percentile
CheapestMedian 36.0xDearest

Usual range 20.5x to 57.4x since 2019-01.

Against Technology Services33.8x vs 21.1x
This company
33.8x
Sector median
21.1x

60% above the Technology Services median.

7.4x34.5x61.6x88.7xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x34.5x61.6x88.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

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

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

Where does it rank among Technology Services peers?

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

  • ROCE77thflat vs a year ago
  • Op. margin66th▲ 9 pts vs a year ago
  • Revenue growth36th▼ 10 pts vs a year ago
  • EPS growth41st▲ 4 pts vs a year ago
  • Debt/equity ↓49thflat vs a year ago
  • Cash cycle ↓60th▲ 29 pts vs a year ago
  • P/E ↓32nd▼ 8 pts vs a year ago
  • 12M momentum71st▲ 11 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

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

At normalised P/E (five-year average earnings) of 37.3x, a holder earning 12%/yr needs earnings to grow about 20.4%/yr for 10 years, then trade at 15x.

Delivered12.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+8.5 ptsimplied minus delivered
Rank357thmost demanding of 856

Over time

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

0%17%33% Jan 2019Nov 2026 0%17%33% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x21.7%22.8%23.9%
15x19.4%20.4%21.5%
20x16.3%17.4%18.4%

Drag a slider to test other assumptions

Implied: 20.4%/yr

Looking back

  • Jan 2020Price implied 21%/yr; EPS has since grown 8%/yr (7.0 yrs)
  • Jan 2021Price implied 23%/yr; EPS has since grown 8%/yr (6.0 yrs)
  • Jan 2022Price implied 31%/yr; EPS has since grown 14%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹4202.20
P/E
33.7x
ROCE
27.0%
Market Cap
₹44586 cr
Revenue (TTM)
₹11298 cr
P/S
3.9x
P/B
6.9x
ROE
20.4%
Operating Margin
19.0%
Debt / Equity
0.1x
Promoter Holding
73.5%
12M Momentum
-5.4%

52-week range

₹3010.00₹4726.00
69% of the way from its 52-week low to its high

Price risk

1Y volatility
38.7%
Beta vs sector
1-year daily
0.84

Balance sheet & cash

Interest cover
operating profit ÷ interest
29.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.15x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 8.5%. 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 conversion1.15xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.15x (cash from operations ₹4,429 cr, net profit ₹3,851 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-15 daysWithin range

Debtor days are below the median of the previous three fiscal years by 15 days (67 vs 82). 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—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs added 3.3 pts; FIIs trimmed 1.8 pts.
  • The number of shareholders fell from 2.7 lakh to 2.5 lakh (-7%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters73.8%73.5%-0.3 pts
FIIs5.9%4.1%-1.8 pts
DIIs10.8%14.1%+3.3 pts
Public and others9.6%8.3%-1.3 pts

Number of shareholders

2.5 lakhshareholders-7% since Sep '23
2.2L2.4L2.5L2.7L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 2.7 lakh
Dec '23: 2.6 lakh
Mar '24: 2.4 lakh
Jun '24: 2.5 lakh
Sep '24: 2.4 lakh
Dec '24: 2.3 lakh
Mar '25: 2.2 lakh
Jun '25: 2.2 lakh
Sep '25: 2.2 lakh
Dec '25: 2.3 lakh
Mar '26: 2.4 lakh
Jun '26: 2.5 lakh
 2.2L2.4L2.5L2.7L Sep '23Sep '24Sep '25Jun '26
Sep '23: 2.7 lakh
Dec '23: 2.6 lakh
Mar '24: 2.4 lakh
Jun '24: 2.5 lakh
Sep '24: 2.4 lakh
Dec '24: 2.3 lakh
Mar '25: 2.2 lakh
Jun '25: 2.2 lakh
Sep '25: 2.2 lakh
Dec '25: 2.3 lakh
Mar '26: 2.4 lakh
Jun '26: 2.5 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

−11.6%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like L&T TECHNOLOGIES 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 −23% to +7% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −9.0%, 80% range −18.0% to −4.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%
RSYSTEMS · Aug 2025: −50.7% vs market
SUMICHEM · Mar 2023: −45.1% vs market
PRAJIND · Aug 2024: −44.7% vs market
JYOTHYLAB · Sep 2024: −38.8% vs market
BSOFT · Oct 2021: −35.8% vs market
ARE&M · Jul 2020: −35.2% vs market
HEROMOTOCO · Jul 2020: −34.0% vs market
TTKPRESTIG · Sep 2022: −29.6% vs market
ATUL · Mar 2022: −28.8% vs market
TIINDIA · Mar 2024: −28.5% vs market
GARFIBRES · Nov 2024: −27.3% vs market
ZENSARTECH · Mar 2025: −24.5% vs market
ROLEXRINGS · Jun 2023: −23.4% vs market
BHARATRAS · Jun 2021: −22.9% vs market
DEEPAKNTR · Jun 2023: −21.4% vs market
KAJARIACER · Feb 2023: −20.5% vs market
RATNAMANI · Jun 2024: −20.5% vs market
SUPREMEIND · Mar 2021: −18.9% vs market
ELECON · Jun 2025: −18.6% vs market
COFORGE · Apr 2023: −17.5% vs market
VESUVIUS · Jun 2025: −17.3% vs market
CENTURYPLY · Apr 2022: −16.9% vs market
EIHOTEL · Sep 2025: −16.8% vs market
3MINDIA · May 2024: −16.6% vs market
BERGEPAINT · Sep 2025: −12.1% vs market
MPHASIS · Aug 2023: −11.2% vs market
EMAMILTD · Dec 2023: −9.4% vs market
INDGN · Jun 2025: −8.7% vs market
GREAVESCOT · Apr 2021: −7.9% vs market
ENDURANCE · Aug 2020: −5.0% vs market
PERSISTENT · Apr 2023: −3.8% vs market
JBCHEPHARM · Jul 2024: −2.1% vs market
KEI · Feb 2024: −0.3% vs market
CUMMINSIND · Feb 2021: +1.2% vs market
SUNDRMFAST · Dec 2021: +2.7% vs market
KPRMILL · Jun 2025: +3.0% vs market
ESCORTS · Mar 2021: +6.3% vs market
RHIM · Apr 2022: +7.0% vs market
MANKIND · May 2024: +9.7% vs market
HSCL · Oct 2025: +11.6% vs market
RADICO · Aug 2021: +11.8% vs market
TECHM · Apr 2020: +12.6% vs market
KIMS · Nov 2022: +14.2% vs market
GALAXYSURF · Dec 2020: +16.4% vs market
AJANTPHARM · Feb 2024: +17.4% vs market
FINPIPE · Dec 2020: +18.7% vs market
USHAMART · Mar 2025: +19.3% vs market
CARBORUNIV · Mar 2021: +26.7% vs market
POLYCAB · Apr 2022: +30.7% vs market
INGERRAND · Oct 2021: +86.0% vs market
Similar setups −11.6%All companies −2.6%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
−11.6%
All companies' median
−2.6%
Beat the market
34% vs 47%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
POLYCAB
Producer Manufacturing		 Apr 2022 42x23% +70%−9% +31%
KEI
Producer Manufacturing		 Feb 2024 61x26% +98%−5% 0%
HSCL
Process Industries		 Oct 2025 39x22% −16%−19% +12%
ENDURANCE
Producer Manufacturing		 Aug 2020 27x21% +19%−8% −5%
PRAJIND
Industrial Services		 Aug 2024 50x29% +56%−3% −45%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CUMMINSIND
Producer Manufacturing		 Feb 2021 31x18% +54%−2% +1%
EMAMILTD
Consumer Non-Durables		 Dec 2023 39x28% +33%−1% −9%
RHIM
Producer Manufacturing		 Apr 2022 54x23% +92%−8% +7%
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: 12-month momentum, P/E and P/S. 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 L&T TECHNOLOGIES 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.

TENNECO CLEAN AIR INDIA LIMITETENNIND
Producer Manufacturing
72%similar
volatilitypromoter holding
KPR MILLKPRMILL
Consumer Non-Durables
70%similar
operating marginEPS growth
BERGER PAINTS INDIABERGEPAINT
Process Industries
65%similar
debt/equityrevenue
EMCURE PHARMACEUTICALSEMCURE
Health Technology
62%similar
market caprevenue
DABUR INDIADABUR
Consumer Non-Durables
61%similar
P/EEPS growth
HEXAWARE TECHNOLOGIESHEXT
Technology Services
72%similar
debt/equityrevenue
HCL TECHNOLOGIESHCLTECH
Technology Services
62%similar
EPS growthoperating margin
TATA CONSULTANCY SERVICESTCS
Technology Services
60%similar
debt/equityEPS growth

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

What changed?

30 events since Jul '21

  1. OctPriceVolume reached 151.8x its 50-day median on 2026-10-21; price +10.7% that day.
  2. JulPriceVolume reached 23.6x its 50-day median on 2026-07-15; price +6.5% that day.
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  5. MarPriceVolume reached 42.6x its 50-day median on 2026-03-13; price +9.6% that day.
  6. NovPriceVolume reached 21.7x its 50-day median on 2025-11-19; price +9.0% that day.
  7. SepPeer rankMoved into the 2nd quartile of Technology Services on operating margin (from the 3rd quartile).
  8. SepPriceVolume reached 7.7x its 50-day median on 2025-09-18; price +2.4% that day.
Show 22 earlier events
  1. JulPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  2. JunResultsYear-on-year EPS growth turned negative.
  3. JunPeer rankSlipped to the 3rd quartile of Technology Services on operating margin (from the 2nd quartile).
  4. JanPriceVolume reached 15.3x its 50-day median on 2025-01-16; price +8.1% that day.
  5. JunResultsRevenue (TTM) reached a new high of ₹9,647 cr.
  6. JunPeer rankSlipped to the 3rd quartile of Technology Services on EPS growth (from the 2nd quartile).
  7. AprPriceVolume reached 13.5x its 50-day median on 2024-04-26; price -7.8% that day.
  8. JanPriceVolume reached 6.0x its 50-day median on 2024-01-17; price +3.6% that day.
  9. OctPriceVolume reached 5.8x its 50-day median on 2023-10-18; price -5.6% that day.
  10. JulPriceVolume reached 5.7x its 50-day median on 2023-07-19; price +1.8% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹8,014 cr.
  12. AprPriceVolume reached 9.0x its 50-day median on 2023-04-27; price +8.2% that day.
  13. JanPriceVolume reached 5.9x its 50-day median on 2023-01-13; price -5.3% that day.
  14. DecPriceVolume reached 8.7x its 50-day median on 2022-12-01; price +9.0% that day.
  15. JulPriceFell 50% from the Jan 2022 peak to the Jul 2022 low.
  16. JunResultsYear-on-year EPS growth turned positive.
  17. JunPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  18. MarValuationP/E crossed above the 90th percentile of its own history to date (80.9x).
  19. JanPriceVolume reached 5.3x its 50-day median on 2022-01-19; price -6.3% that day.
  20. DecPeer rankMoved into the 3rd quartile of Technology Services on EPS growth (from the bottom quartile).
  21. OctPriceVolume reached 6.1x its 50-day median on 2021-10-20; price -3.5% that day.
  22. JulPriceVolume reached 29.6x its 50-day median on 2021-07-15; price +18.9% 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
2026-1133.7x₹11298 cr20.4%27.0%0.1x
2026-1034.4x₹11298 cr20.4%27.0%0.1x
2026-0925.9x₹11298 cr20.4%27.0%0.1x
2026-0829.9x₹10996 cr19.8%27.0%0.1x
2026-0729.5x₹10996 cr19.8%27.0%0.1x
2026-0626.0x₹10996 cr19.8%27.0%0.1x
2026-0528.9x₹10776 cr20.7%27.0%0.1x
2026-0430.5x₹10776 cr20.7%27.0%0.1x
2026-0326.3x₹10776 cr20.7%27.0%0.1x
2026-0229.1x₹10642 cr21.0%27.0%0.1x
2026-0130.9x₹10642 cr21.0%27.0%0.1x
2025-1237.0x₹10642 cr21.0%27.0%0.1x
2025-1137.1x₹10502 cr20.8%27.0%0.1x
2025-1034.4x₹10502 cr20.8%27.0%0.1x
2025-0934.3x₹10502 cr20.8%27.0%0.1x
2025-0835.3x₹10326 cr20.8%27.0%0.1x
2025-0736.0x₹10326 cr20.8%27.0%0.1x
2025-0636.8x₹10326 cr20.8%27.0%0.1x
2025-0535.6x₹10226 cr24.3%32.0%0.1x
2025-0434.7x₹10226 cr24.3%32.0%0.1x
2025-0336.7x₹10226 cr24.3%32.0%0.1x
2025-0236.6x₹9995 cr24.6%32.0%0.1x
2025-0144.0x₹9995 cr24.6%32.0%0.1x
2024-1238.2x₹9995 cr24.6%32.0%0.1x
2024-1142.8x₹9808 cr24.6%32.0%0.1x
2024-1040.0x₹9808 cr24.6%32.0%0.1x
2024-0943.3x₹9808 cr24.6%32.0%0.1x
2024-0846.4x₹9647 cr24.5%32.0%0.1x
2024-0742.3x₹9647 cr24.5%32.0%0.1x
2024-0639.8x₹9647 cr24.5%32.0%0.1x
2024-0540.5x₹8014 cr23.7%33.0%0.1x
2024-0441.9x₹8014 cr23.7%33.0%0.1x
2024-0349.5x₹8014 cr23.7%33.0%0.1x
2024-0247.9x₹8014 cr23.7%33.0%0.1x
2024-0150.4x₹8014 cr23.7%33.0%0.1x
2023-1247.4x₹8014 cr23.7%33.0%0.1x
2023-1143.1x₹8014 cr23.7%33.0%0.1x
2023-1037.8x₹8014 cr23.7%33.0%0.1x
2023-0941.3x₹8014 cr23.7%33.0%0.1x
2023-0839.8x₹8014 cr23.7%33.0%0.1x
2023-0736.4x₹8014 cr23.7%33.0%0.1x
2023-0635.5x₹8014 cr23.7%33.0%0.1x
2023-0543.0x₹6570 cr23.1%31.0%0.1x
2023-0441.6x₹6570 cr23.1%31.0%0.1x
2023-0337.3x₹6570 cr23.1%31.0%0.1x
2023-0240.6x₹6570 cr23.1%31.0%0.1x
2023-0136.8x₹6570 cr23.1%31.0%0.1x
2022-1240.6x₹6570 cr23.1%31.0%0.1x
2022-1142.1x₹6570 cr23.1%31.0%0.1x
2022-1039.0x₹6570 cr23.1%31.0%0.1x
2022-0939.6x₹6570 cr23.1%31.0%0.1x
2022-0841.0x₹6570 cr23.1%31.0%0.1x
2022-0738.7x₹6570 cr23.1%31.0%0.1x
2022-0633.4x₹6570 cr23.1%31.0%0.1x
2022-0555.5x₹5450 cr19.2%27.0%0.1x
2022-0464.8x₹5450 cr19.2%27.0%0.1x
2022-0380.9x₹5450 cr19.2%27.0%0.1x
2022-0271.8x₹5450 cr19.2%27.0%0.1x
2022-0174.3x₹5450 cr19.2%27.0%0.1x
2021-1288.7x₹5450 cr19.2%27.0%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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