Share price
₹31 latest close · −0.3% over the last 90 sessions
₹31 month-end · −17.1% over 12 months
₹31 month-end · −20.8% over 3 years
₹31 month-end · +4.9% since Jan '19
52-week range ₹27.00 to ₹44.11 · 1-year volatility 41.8%
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-59.4% (2024-01 peak to 2026-03 low, not yet recovered)
-53.5% (2019-01 peak to 2019-08 low, recovered 2019-09)
-49.3% (2019-09 peak to 2020-03 low, recovered 2021-07)
Where does it rank among Process Industries peers?
Each cell is the company's percentile rank among its Process Industries 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
- ROCE2nd▼ 3 pts vs a year ago
- Op. margin20th▲ 14 pts vs a year ago
- Revenue growth67th▼ 10 pts vs a year ago
- EPS growth1st
- Debt/equity ↓0thflat vs a year ago
- Cash cycle ↓84th▲ 19 pts vs a year ago
- P/E ↓14th
- 12M momentum37th▼ 22 pts vs a year ago
Rank history
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 Process Industries sector page Watch it move against Process Industries in the Observatory
What is the price implying?
Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹31.00
- ROCE
- -9.0%
- Market Cap
- ₹53 cr
- Revenue (TTM)
- ₹364 cr
- P/S
- 0.1x
- Operating Margin
- 4.7%
- Promoter Holding
- 69.8%
- 12M Momentum
- -17.1%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance—Not enough data
Not enough reported data to compute this.
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 flow3 of 5 yrsNear threshold
Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history+2 daysWithin range
Debtor days are above the median of the previous three fiscal years by 2 days (43 vs 41). Bands: under 15 days, 15 to 45, over 45.
Capital work in progress0% of fixed assetsWithin range
Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days+22 days / 2 yrsWithin range
Days payable changed by +22 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.
Who has been buying and selling?
- Over 3 years, institutional and promoter holdings were broadly unchanged.
- The number of shareholders rose from 8,021 to 9,253 (+15%) between Sep 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like MALU PAPER MILLS 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 −14% to +60% vs the market, against −5% for all non-financial companies in the same months.
- The analogs' median sat above that base rate (gap +9.2%, 80% range +0.1% to +20.9%), but the matches cluster in only 6 distinct 12-month windows.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 5 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 37 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| PRAKASHSTL Non-Energy Minerals |
Feb 2025 | — | -11% | −21% | −40% | −45% |
| SHIVAMILLS Process Industries |
Jul 2025 | — | -3% | −20% | −31% | −24% |
| MADHUCON Industrial Services |
Aug 2023 | — | -8% | −2% | −8% | +54% |
| SUPERSPIN Process Industries |
Nov 2020 | — | -2% | +6% | −17% | +74% |
| JISLDVREQS Producer Manufacturing |
Jan 2022 | — | — | +87% | −15% | −26% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| GLOBALVECT Industrial Services |
Sep 2023 | — | -1% | +28% | −16% | +199% |
| INFOMEDIA Consumer Services |
Apr 2022 | — | -38% | +34% | −20% | −5% |
| BLBLIMITED Finance |
Apr 2025 | — | 0% | −27% | −34% | +7% |
How reliable is this?
Matched on P/S, ROCE, operating margin, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and interest cover. Not used (unavailable for this company): P/E and debt/equity. This company is loss-making, so it was only compared with loss-making companies. 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.
What changed?
22 events since Jun '19
- MarResultsRevenue (TTM) reached a new high of ₹321 cr.
- MarPriceFell 59% from the Jan 2024 peak to the Mar 2026 low.
- SepResultsRevenue (TTM) reached a new high of ₹315 cr.
- JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- SepResultsEPS (TTM) turned negative.
- JulValuationP/E crossed above the 90th percentile of its own history to date (99.4x).
- JunResultsEPS (TTM) turned positive.
- JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
Show 14 earlier events
- SepPriceRegained the 2022-12 peak, 6 months after the low.
- MarPriceFell 39% from the Dec 2022 peak to the Mar 2023 low.
- DecPriceRegained the 2021-10 peak, 10 months after the low.
- FebPriceFell 37% from the Oct 2021 peak to the Feb 2022 low.
- JulPriceRegained the 2019-09 peak, 16 months after the low.
- JunResultsEPS (TTM) turned negative.
- JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- MayValuationP/E crossed above the 90th percentile of its own history to date (79.1x).
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the 2nd quartile).
- MarPriceFell 49% from the Sep 2019 peak to the Mar 2020 low.
- SepPriceRegained the 2019-01 peak, 1 month after the low.
- AugPriceFell 54% from the Jan 2019 peak to the Aug 2019 low.
- JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
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 history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | — | ₹364 cr | — | -9.0% | — |
| 2026-10 | — | ₹364 cr | — | -9.0% | — |
| 2026-09 | — | ₹364 cr | — | -9.0% | — |
| 2026-08 | — | ₹335 cr | — | -9.0% | — |
| 2026-07 | — | ₹335 cr | — | -9.0% | — |
| 2026-06 | — | ₹335 cr | — | -9.0% | — |
| 2026-05 | — | ₹321 cr | — | -4.0% | — |
| 2026-04 | — | ₹321 cr | — | -4.0% | — |
| 2026-03 | — | ₹321 cr | — | -4.0% | — |
| 2026-02 | — | ₹307 cr | — | -4.0% | — |
| 2026-01 | — | ₹307 cr | — | -4.0% | — |
| 2025-12 | — | ₹307 cr | — | -4.0% | — |
| 2025-11 | — | ₹315 cr | — | -4.0% | — |
| 2025-10 | — | ₹315 cr | — | -4.0% | — |
| 2025-09 | — | ₹315 cr | — | -4.0% | — |
| 2025-08 | — | ₹278 cr | — | -4.0% | — |
| 2025-07 | — | ₹278 cr | — | -4.0% | — |
| 2025-06 | — | ₹278 cr | — | -4.0% | — |
| 2025-05 | — | ₹261 cr | -131.6% | 9.0% | 18.9x |
| 2025-04 | — | ₹261 cr | -131.6% | 9.0% | 18.9x |
| 2025-03 | — | ₹261 cr | -131.6% | 9.0% | 18.9x |
| 2025-02 | — | ₹259 cr | -74.0% | 9.0% | 18.9x |
| 2025-01 | — | ₹259 cr | -74.0% | 9.0% | 18.9x |
| 2024-12 | — | ₹259 cr | -74.0% | 9.0% | 18.9x |
| 2024-11 | — | ₹263 cr | -19.0% | 9.0% | 18.9x |
| 2024-10 | — | ₹263 cr | -19.0% | 9.0% | 18.9x |
| 2024-09 | — | ₹263 cr | -19.0% | 9.0% | 18.9x |
| 2024-08 | 89.3x | ₹274 cr | 12.9% | 9.0% | 18.9x |
| 2024-07 | 99.4x | ₹274 cr | 12.9% | 9.0% | 18.9x |
| 2024-06 | 67.7x | ₹274 cr | 12.9% | 9.0% | 18.9x |
| 2024-05 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2024-04 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2024-03 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2024-02 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2024-01 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-12 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-11 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-10 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-09 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-08 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-07 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-06 | — | ₹234 cr | -166.7% | -4.0% | 20.5x |
| 2023-05 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2023-04 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2023-03 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2023-02 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2023-01 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-12 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-11 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-10 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-09 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-08 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-07 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-06 | — | ₹212 cr | -35.3% | 0.0% | 6.1x |
| 2022-05 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2022-04 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2022-03 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2022-02 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2022-01 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-12 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-11 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-10 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-09 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-08 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-07 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-06 | — | ₹170 cr | -25.0% | 1.0% | 3.9x |
| 2021-05 | 79.1x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2021-04 | 64.0x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2021-03 | 67.3x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2021-02 | 69.6x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2021-01 | 68.6x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-12 | 77.6x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-11 | 63.7x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-10 | 60.5x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-09 | 64.1x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-08 | 70.9x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-07 | 69.9x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-06 | 81.5x | ₹226 cr | 2.1% | 8.0% | 2.8x |
| 2020-05 | 6.4x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2020-04 | 6.7x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2020-03 | 5.1x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2020-02 | 6.5x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2020-01 | 8.0x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-12 | 6.6x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-11 | 5.1x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-10 | 5.6x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-09 | 9.0x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-08 | 4.6x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-07 | 4.3x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-06 | 5.0x | ₹274 cr | 22.6% | 16.0% | 2.9x |
| 2019-05 | 30.2x | ₹279 cr | 6.1% | 11.0% | 4.2x |
| 2019-04 | 29.7x | ₹279 cr | 6.1% | 11.0% | 4.2x |
| 2019-03 | 30.2x | ₹279 cr | 6.1% | 11.0% | 4.2x |
| 2019-02 | 28.4x | ₹279 cr | 6.1% | 11.0% | 4.2x |
| 2019-01 | 34.4x | ₹279 cr | 6.1% | 11.0% | 4.2x |