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MACOBS TECHNOLOGIES LIMITED (MACOBSTECH)

Miscellaneous · figures to Nov '26

Share price

Closing priceAdjusted for splits and bonus issues.

₹188.75 latest close · −21.0% over the last 90 sessions

₹200₹220₹240May 21Jul 3Aug 3Sep 1Oct 5Nov 9 ₹200₹220₹240May 21Aug 18Nov 9

₹188.75 month-end · −11.0% over 12 months

₹200₹220Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹220Nov '25May '26Nov '26

₹188.75 month-end · +13.2% since Jun '25

₹180₹200₹220Jun '25Sep '25Jan '26Apr '26Aug '26Nov '26 ₹180₹200₹220Jun '25Mar '26Nov '26

52-week range ₹165.00 to ₹249.00 · 1-year volatility 46.0%

Was the rally earned?

-11%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 10 points, but investors now pay less per rupee of profit (P/E 79.7x to 63.8x), which took 21 points back.
  • The share count barely moved.
Net profit growth: +10 pts. Points of the price return explained by net profit growing (or shrinking).+10 ptsNet profit growthP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21 ptsP/E changeShare price: −11%−11%Share priceNet profit growth: +10 pts. Points of the price return explained by net profit growing (or shrinking).+10ProfitP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21P/EShare price: −11%−11%Share price
Net profit growth+10 ptsNet profit rose about 11%, which lifts the price.
P/E change-21 ptsThe P/E fell from 79.7x to 63.8x, 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.

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.

Compare with other companies

How rough has the ride been?

Maximum drawdown-21.9%not yet recovered
1-year volatility46.0%annualised

Drawdown from peak

0%−10%−20%20252026−21.9% 0%−10%−20%20252026−21.9%
Largest drawdowns

-21.9% (2026-05 peak to 2026-11 low, not yet recovered)

-18.7% (2024-08 peak to 2024-09 low, recovered 2024-10)

-17.5% (2024-10 peak to 2024-10 low, recovered 2024-11)

What is the price implying?

~29%annual earnings growth implied by the price

At a P/E of 63.8x, the price would imply about 29.4%/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.

The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹188.75
P/E
63.8x
ROCE
11.0%
Market Cap
₹185 cr
Revenue (TTM)
₹41 cr
P/S
4.5x
P/B
4.5x
ROE
7.0%
Debt / Equity
0.0x
Promoter Holding
47.8%
12M Momentum
-11.0%

52-week range

₹165.00₹249.00
28% of the way from its 52-week low to its high

Price risk

1Y volatility
46.0%

Balance sheet & cash

Debt service
no meaningful debt
Share count, 1Y
unchanged

Are profits backed by cash?

0 of 1checks within range1 near a threshold
Other income reliance30%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 30.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow—Not enough data

Not enough reported data to compute this.

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress—Not enough data

Not enough reported data to compute this.

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 2 years, FIIs trimmed 2.6 pts; DIIs added 0.7 pts.
  • The number of shareholders fell from 391 to 288 (-26%) between Sep 2024 and Mar 2026.

Holdings, Mar '26

How each group changed

GroupSep '24Mar '26Change
Promoters47.8%47.8%0.0 pts
FIIs2.6%0.0%-2.6 pts
DIIs1.2%1.9%+0.7 pts
Public and others48.4%50.3%+1.9 pts

Number of shareholders

288shareholders-26% since Sep '24
28855k1.1L1.7L Sep '24Mar '25Sep '25Mar '26
Sep '24: 391
Mar '25: 344
Sep '25: 1.7 lakh
Mar '26: 288
 28855k1.1L1.7L Sep '24Mar '25Sep '25Mar '26
Sep '24: 391
Mar '25: 344
Sep '25: 1.7 lakh
Mar '26: 288

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

−7.7%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 MACOBS TECHNOLOGIES LIMITED today on valuation, return on capital, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −31% to +15% vs the market, against −7% for all non-financial companies in the same months.
  • The gap against the base rate (−0.8%, 80% range −9.1% to +6.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
JITFINFRA · Jun 2024: −59.1% vs market
KABRAEXTRU · Mar 2023: −59.1% vs market
SILLYMONKS · Jul 2020: −55.1% vs market
ROCKINGDCE · Jan 2025: −54.6% vs market
ZAGGLE · Feb 2025: −44.5% vs market
CYIENTDLM · Jul 2024: −40.7% vs market
SREEL · Jan 2024: −37.8% vs market
KILITCH · Apr 2020: −37.0% vs market
REMUS · May 2025: −34.8% vs market
TREJHARA · Aug 2025: −34.1% vs market
SYNCOMF · Jan 2025: −33.0% vs market
NINSYS · Nov 2024: −32.6% vs market
SKP · Jun 2025: −31.2% vs market
MEDICAMEQ · Jan 2025: −29.6% vs market
ANNAPURNA · Apr 2024: −29.0% vs market
KHANDSE · Nov 2024: −28.5% vs market
BIOFILCHEM · Jun 2024: −28.2% vs market
AARTECH · Sep 2024: −25.4% vs market
HGM · Dec 2024: −21.1% vs market
ASIANENE · Nov 2024: −16.2% vs market
SHALBY · Jan 2020: −15.5% vs market
ASHIANA · Jan 2025: −14.6% vs market
NAZARA · Jul 2023: −11.5% vs market
BPL · Sep 2023: −10.6% vs market
AIRAN · Feb 2021: −8.7% vs market
ARVEE · Jun 2025: −6.8% vs market
ARTNIRMAN · Jun 2024: −6.6% vs market
DENTALKART · Oct 2024: −2.4% vs market
SILVERTUC · Jun 2024: +3.3% vs market
DENORA · Mar 2020: +4.4% vs market
CANTABIL · Mar 2020: +4.5% vs market
LOTUSEYE · Apr 2021: +5.1% vs market
ASTRAMICRO · Mar 2022: +5.2% vs market
BFUTILITIE · Apr 2021: +9.2% vs market
PILITA · Oct 2023: +11.4% vs market
ONEPOINT · Jun 2025: +12.3% vs market
ZENTEC · Feb 2020: +12.6% vs market
SASKEN · Jul 2025: +15.9% vs market
ARVSMART · Oct 2022: +17.6% vs market
SIRCA · Apr 2022: +23.6% vs market
KRISHIVAL · Jan 2025: +25.3% vs market
GENESYS · May 2024: +36.7% vs market
LRRPL · Sep 2025: +37.1% vs market
APTECHT · Jan 2021: +52.4% vs market
COMPUSOFT · Sep 2021: +54.0% vs market
VIMTALABS · Feb 2021: +59.5% vs market
KINGFA · Aug 2022: +60.6% vs market
GANESHHOU · Apr 2023: +65.2% vs market
TOUCHWOOD · Oct 2022: +70.4% vs market
KERNEX · Mar 2022: +77.9% vs market
Similar setups −7.7%All companies −6.9%← 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
−7.7%
All companies' median
−6.9%
Beat the market
44% vs 42%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KRISHIVAL
Process Industries		 Jan 2025 65x13% −8%−23% +25%
ARVEE
Process Industries		 Jun 2025 91x10% −8%−22% −7%
JITFINFRA
Transportation		 Jun 2024 62x13% +51%−9% −59%
AIRAN
Technology Services		 Feb 2021 34x10% +57%−10% −9%
KILITCH
Health Technology		 Apr 2020 45x6% −44%−49% −37%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ARVSMART
Finance		 Oct 2022 42x10% +28%−16% +18%
REMUS
Health Technology		 May 2025 59x— +12%−23% −35%
NINSYS
Technology Services		 Nov 2024 69x— +31%−13% −33%
How reliable is this?

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

1 event since Jun '26

  1. JunResultsRevenue (TTM) reached a new high of ₹41 cr.

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 history18 months · 2025-06 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1163.8x₹41 cr7.0%11.0%0.0x
2026-1066.2x₹41 cr7.0%11.0%0.0x
2026-0964.3x₹41 cr7.0%11.0%0.0x
2026-0866.6x₹41 cr7.0%11.0%0.0x
2026-0772.9x₹41 cr7.0%11.0%0.0x
2026-0672.3x₹41 cr7.0%11.0%0.0x
2026-0582.5x₹24 cr9.3%—0.0x
2026-0484.1x₹24 cr9.3%—0.0x
2026-0378.0x₹24 cr9.3%—0.0x
2026-0281.0x₹24 cr9.3%—0.0x
2026-0184.2x₹24 cr9.3%—0.0x
2025-1280.5x₹24 cr9.3%—0.0x
2025-1179.7x₹24 cr9.3%—0.0x
2025-1075.7x₹24 cr9.3%—0.0x
2025-0976.3x₹24 cr9.3%—0.0x
2025-0872.8x₹24 cr9.3%—0.0x
2025-0762.5x₹24 cr9.3%—0.0x
2025-0662.7x₹24 cr9.3%—0.0x

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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