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MAN INDUSTRIES INDIA LIMITED (MANINDS)

Producer Manufacturing · Industrial Machinery · 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.65 / 100
Profitability 60Growth 76Balance sheet 58
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.81 / 100
Price 98Earnings 63FII/DII 82

Passes these screensHigh MomentumDebt-light & profitableConsistent compounders

Compare withWELSPUN CORPVOLTASTHERMAX

Share price

Closing priceAdjusted for splits and bonus issues.

₹795.65 latest close · +36.6% over the last 90 sessions

₹600₹800₹1,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹600₹800₹1,000Jul 3Sep 4Nov 9

₹795.65 month-end · +70.6% over 12 months

₹400₹600₹800Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹400₹600₹800Nov '25May '26Nov '26

₹795.65 month-end · +215.9% over 3 years

₹250₹500₹750Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹250₹500₹750Nov '23May '25Nov '26

₹795.65 month-end · +1173.0% since Jan '19

₹0₹250₹500₹750Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹250₹500₹750Jan '19Dec '22Nov '26

52-week range ₹302.05 to ₹1039.70 · 1-year volatility 59.6%

Was the rally earned?

+71%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 18.8x to 29.2x); per-share earnings added 12 points.
  • The share count rose 15%.
Net profit growth: +31 pts. Points of the price return explained by net profit growing (or shrinking).+31 ptsNet profit growthP/E change: +58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+58 ptsP/E changeShare count change: −18 pts. Points of the price return explained by the share count changing. More shares count against the price.−18 ptsShare count changeShare price: +71%+71%Share priceNet profit growth: +31 pts. Points of the price return explained by net profit growing (or shrinking).+31ProfitP/E change: +58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+58P/EShare count change: −18 pts. Points of the price return explained by the share count changing. More shares count against the price.−18SharesShare price: +71%+71%Share price
Net profit growth+31 ptsNet profit rose about 26%, which lifts the price.
P/E change+58 ptsThe P/E rose from 18.8x to 29.2x, which lifts the price.
Share count change-18 ptsShare count rose 15%, which lowers the price.
+216%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 168 points to the rise, while the multiple moved less (P/E 22.6x to 29.2x).
  • The share count rose 25%.
Net profit growth: +209 pts. Points of the price return explained by net profit growing (or shrinking).+209 ptsNet profit growthP/E change: +48 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+48 ptsP/E changeShare count change: −41 pts. Points of the price return explained by the share count changing. More shares count against the price.−41 ptsShare count changeShare price: +216%+216%Share priceNet profit growth: +209 pts. Points of the price return explained by net profit growing (or shrinking).+209ProfitP/E change: +48 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+48P/EShare count change: −41 pts. Points of the price return explained by the share count changing. More shares count against the price.−41SharesShare price: +216%+216%Share price
Net profit growth+209 ptsNet profit rose about 205%, which lifts the price.
P/E change+48 ptsThe P/E rose from 22.6x to 29.2x, which lifts the price.
Share count change-41 ptsShare count rose 25%, which lowers the price.
+756%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 5.3x to 29.2x); per-share earnings added 153 points.
  • The share count rose 31%.
Net profit growth: +248 pts. Points of the price return explained by net profit growing (or shrinking).+248 ptsNet profit growthP/E change: +603 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+603 ptsP/E changeShare count change: −95 pts. Points of the price return explained by the share count changing. More shares count against the price.−95 ptsShare count changeShare price: +756%+756%Share priceNet profit growth: +248 pts. Points of the price return explained by net profit growing (or shrinking).+248ProfitP/E change: +603 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+603P/EShare count change: −95 pts. Points of the price return explained by the share count changing. More shares count against the price.−95SharesShare price: +756%+756%Share price
Net profit growth+248 ptsNet profit rose about 102%, which lifts the price.
P/E change+603 ptsThe P/E rose from 5.3x to 29.2x, which lifts the price.
Share count change-95 ptsShare count rose 31%, which lowers 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 WELSPUN CORP

How rough has the ride been?

Maximum drawdown-57.5%recovered 2026-04
1-year volatility59.6%annualised
Beta vs sector index1.503-year daily, correlation 0.54
Volume spikes10last 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

-57.5% (2024-07 peak to 2025-03 low, recovered 2026-04)

-56.5% (2019-04 peak to 2020-03 low, recovered 2020-09)

-49.9% (2021-08 peak to 2022-06 low, recovered 2023-06)

Most recent volume spikes

2026-09-23: 22.3x the 50-day median, price +16.1% that day

2026-09-16: 5.6x the 50-day median, price -2.2% that day

2026-09-11: 13.1x the 50-day median, price -1.2% 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?

29.2xP/E todayNear its historic high
Against its own history93rd percentile
CheapestMedian 8.0xDearest

Usual range 4.4x to 26.2x since 2019-01.

Against Producer Manufacturing29.2x vs 29.6x
This company
29.2x
Sector median
29.6x

Close to the Producer Manufacturing median.

3.6x17.1x30.6x44.0xJan '19Aug '20Mar '22Oct '23May '25Nov '263.6x17.1x30.6x44.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE54th▲ 4 pts vs a year ago
  • Op. margin65th▲ 43 pts vs a year ago
  • Revenue growth40th▲ 7 pts vs a year ago
  • EPS growth49th▼ 32 pts vs a year ago
  • Debt/equity ↓45thflat vs a year ago
  • Cash cycle ↓49thflat vs a year ago
  • P/E ↓52nd▼ 27 pts vs a year ago
  • 12M momentum93rdflat 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~26%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 49.9x, a holder earning 12%/yr needs earnings to grow about 26.3%/yr for 10 years, then trade at 15x.

Delivered12.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+13.6 ptsimplied minus delivered
Rank248thmost demanding of 856

Over time

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

-5%12%28% Jan 2019Nov 2026 -5%12%28% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x28.0%29.2%30.3%
15x25.2%26.3%27.4%
20x21.6%22.7%23.8%

Drag a slider to test other assumptions

Implied: 26.3%/yr

Looking back

  • Jan 2020Price implied −0%/yr; EPS has since grown 12%/yr (7.0 yrs)
  • Jan 2021Price implied 3%/yr; EPS has since grown 15%/yr (6.0 yrs)
  • Jan 2022Price implied 5%/yr; EPS has since grown 5%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹795.65
P/E
29.2x
ROCE
16.0%
Market Cap
₹5965 cr
Revenue (TTM)
₹3874 cr
P/S
1.5x
P/B
2.9x
ROE
9.8%
Operating Margin
14.0%
Debt / Equity
0.3x
Promoter Holding
43.2%
12M Momentum
70.6%

52-week range

₹302.05₹1039.70
67% of the way from its 52-week low to its high

Price risk

1Y volatility
59.6%
Beta vs sector
1-year daily
1.62

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.08x
Share count, 1Y
+18.8%

Are profits backed by cash?

3 of 7checks within range4 near a threshold
Other income reliance3%Within range

Other income as a share of pre-tax profit (trailing twelve months): 3.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate28%Within range

Median quarterly effective tax rate over about 2.5 years: 27.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.08xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.08x (cash from operations ₹890 cr, net profit ₹428 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

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+22 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 22 days (103 vs 81). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress38% of fixed assetsNear threshold

Capital work-in-progress is 38% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+165 days / 2 yrsNear threshold

Days payable changed by +165 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, promoters trimmed 6.4 pts; DIIs added 1.4 pts; FIIs added 1.3 pts.
  • The number of shareholders rose from 34,330 to 49,144 (+43%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters49.6%43.2%-6.4 pts
FIIs1.6%2.9%+1.3 pts
DIIs0.0%1.4%+1.4 pts
Public and others48.7%52.5%+3.8 pts

Number of shareholders

49,144shareholders+43% since Sep '23
34k43k51k59k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 34,330
Dec '23: 35,193
Mar '24: 44,206
Jun '24: 46,295
Sep '24: 53,582
Dec '24: 56,984
Mar '25: 56,405
Jun '25: 59,257
Sep '25: 54,425
Dec '25: 51,822
Mar '26: 50,913
Jun '26: 49,144
 34k43k51k59k Sep '23Sep '24Sep '25Jun '26
Sep '23: 34,330
Dec '23: 35,193
Mar '24: 44,206
Jun '24: 46,295
Sep '24: 53,582
Dec '24: 56,984
Mar '25: 56,405
Jun '25: 59,257
Sep '25: 54,425
Dec '25: 51,822
Mar '26: 50,913
Jun '26: 49,144

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

+10.6%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 MAN INDUSTRIES INDIA 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 −26% to +38% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (+14.0%, 80% range −3.9% to +21.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
MIRZAINT · Feb 2023: −80.4% vs market
SALZERELEC · Dec 2024: −52.7% vs market
REFEX · Dec 2024: −48.8% vs market
HFCL · Nov 2024: −47.7% vs market
KHAICHEM · May 2022: −42.8% vs market
AMNPLST · Dec 2024: −37.8% vs market
SOLARA · Dec 2020: −36.6% vs market
BAJAJHCARE · Sep 2025: −33.0% vs market
PATELENG · Aug 2023: −32.1% vs market
TIRUMALCHM · Mar 2022: −32.0% vs market
HPL · Dec 2024: −29.0% vs market
TPLPLASTEH · Aug 2024: −27.0% vs market
BFUTILITIE · Feb 2020: −26.4% vs market
WABAG · Jan 2025: −26.0% vs market
BLKASHYAP · Jul 2024: −21.2% vs market
TIMETECHNO · Jan 2025: −15.3% vs market
TALBROAUTO · Dec 2023: −14.8% vs market
APOLSINHOT · Apr 2023: −12.3% vs market
DYCL · Jul 2023: −9.3% vs market
TCI · Apr 2022: −8.6% vs market
SPAL · May 2025: −5.2% vs market
FAZE3Q · May 2025: −3.2% vs market
MANAKCOAT · Sep 2025: −2.7% vs market
VRLLOG · Aug 2022: −1.2% vs market
POWERMECH · Aug 2023: +8.9% vs market
TCPLPACK · Feb 2023: +12.3% vs market
LUMAXTECH · May 2023: +13.5% vs market
XPROINDIA · Aug 2022: +14.9% vs market
GOKEX · Jun 2022: +16.2% vs market
GENUSPOWER · Mar 2021: +20.7% vs market
JBMA · Aug 2020: +22.8% vs market
ACE · Mar 2021: +26.1% vs market
ICIL · Jan 2021: +29.7% vs market
PRICOLLTD · May 2023: +30.8% vs market
TIIL · May 2022: +31.7% vs market
MINDACORP · Aug 2022: +32.3% vs market
RVNL · Mar 2024: +34.3% vs market
AXISCADES · Mar 2023: +39.2% vs market
USHAMART · Nov 2021: +43.7% vs market
KIRLOSBROS · Aug 2023: +44.3% vs market
KOPRAN · Nov 2020: +45.0% vs market
SKIPPER · Jun 2023: +45.5% vs market
GRAVITA · Mar 2022: +60.6% vs market
SALASAR · Mar 2023: +69.3% vs market
HIKAL · Nov 2020: +108.2% vs market
KIRLOSENG · May 2023: +114.3% vs market
ELECON · Jan 2022: +118.4% vs market
BALAMINES · Dec 2020: +172.7% vs market
MARINE · Aug 2023: +175.9% vs market
TRIDENT · Jan 2021: +208.6% vs market
Similar setups +10.6%All companies −3.4%← 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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
+10.6%
All companies' median
−3.4%
Beat the market
52% vs 46%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ELECON
Producer Manufacturing		 Jan 2022 35x11% +289%−16% +118%
PATELENG
Industrial Services		 Aug 2023 27x13% +142%−4% −32%
WABAG
Industrial Services		 Jan 2025 33x20% +104%−28% −26%
MIRZAINT
Consumer Non-Durables		 Feb 2023 23x20% +84%−25% −80%
TCI
Transportation		 Apr 2022 37x15% +166%−16% −9%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GOKEX
Consumer Non-Durables		 Jun 2022 17x18% +146%−29% +16%
AXISCADES
Commercial Services		 Mar 2023 46x14% +112%−29% +39%
USHAMART
Producer Manufacturing		 Nov 2021 17x13% +234%−17% +44%
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/S, P/E and drawdown from 12-month high. 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 MAN INDUSTRIES INDIA 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.

PARAG MILK FOODSPARAGMILK
Consumer Non-Durables
65%similar
revenueEPS growth
MOREPEN LABORATORIESMOREPENLAB
Health Technology
61%similar
operating marginvolatility
VENUS PIPES TUBESVENUSPIPES
Non-Energy Minerals
61%similar
EPS growthpromoter holding
AVALON TECHNOLOGIESAVALON
Electronic Technology
60%similar
debt/equitypromoter holding
GOODLUCK INDIAGOODLUCK
Non-Energy Minerals
60%similar
market capP/E
TEXMACO RAIL & ENGINEERING LIMTEXRAIL
Producer Manufacturing
62%similar
revenuerevenue growth
SHAKTI PUMPS (INDIA)SHAKTIPUMP
Producer Manufacturing
59%similar
debt/equityrevenue
TRANSFORMERS AND RECTIFIERS (ITARIL
Producer Manufacturing
58%similar
debt/equityvolatility

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

What changed?

30 events since Jun '24

  1. NovPriceFell 29% from the Sep 2026 peak to the Nov 2026 low.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. AugPriceVolume reached 44.5x its 50-day median on 2026-08-12; price +7.1% that day.
  4. JunResultsYear-on-year EPS growth turned negative.
  5. JunValuationP/E crossed above the 90th percentile of its own history to date (25.1x).
  6. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  7. JunSharesShare count is up 18.7% over 12 months.
  8. JunPriceVolume reached 10.2x its 50-day median on 2026-06-05; price +9.9% that day.
Show 22 earlier events
  1. AprPriceRegained the 2024-07 peak, 13 months after the low.
  2. FebPriceVolume reached 68.8x its 50-day median on 2026-02-11; price +15.3% that day.
  3. JanPeer rankSlipped to the 3rd quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  4. DecPromoterPromoter holding fell 5.0 pts to 43.2% (largest drop in the history since 2019-01).
  5. DecResultsRevenue (TTM) reached a new high of ₹3,526 cr.
  6. DecPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  7. NovPriceVolume reached 31.2x its 50-day median on 2025-11-14; price +10.7% that day.
  8. SepPromoterPromoter holding rose 2.0 pts to 48.2% (largest rise in the history since 2019-01).
  9. SepPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  10. SepPriceVolume reached 30.5x its 50-day median on 2025-09-30; price -10.5% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹3,505 cr.
  12. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  13. JunDividendDividend payout cut from 12% to 0% of profit.
  14. MayPriceVolume reached 11.3x its 50-day median on 2025-05-13; price +6.5% that day.
  15. MarPriceFell 58% from the Jul 2024 peak to the Mar 2025 low.
  16. MarPriceVolume reached 9.1x its 50-day median on 2025-03-06; price +5.7% that day.
  17. DecPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  18. JulPriceRegained the 2024-02 peak, 4 months after the low.
  19. JulPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  20. JulPriceVolume reached 14.7x its 50-day median on 2024-07-01; price +13.5% that day.
  21. JunPromoterPromoter holding fell 3.5 pts to 46.1%.
  22. JunResultsYear-on-year EPS growth turned positive.

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
2026-1129.2x₹3874 cr9.8%16.0%0.3x
2026-1026.6x₹3874 cr9.8%16.0%0.3x
2026-0933.3x₹3874 cr9.8%16.0%0.3x
2026-0832.5x₹3563 cr8.2%16.0%0.3x
2026-0723.0x₹3563 cr8.2%16.0%0.3x
2026-0625.1x₹3563 cr8.2%16.0%0.3x
2026-0518.6x₹3624 cr11.7%16.0%0.3x
2026-0419.6x₹3624 cr11.7%16.0%0.3x
2026-0311.8x₹3624 cr11.7%16.0%0.3x
2026-0218.6x₹3526 cr10.4%16.0%0.3x
2026-0113.1x₹3526 cr10.4%16.0%0.3x
2025-1215.6x₹3526 cr10.4%16.0%0.3x
2025-1118.8x₹3498 cr10.1%16.0%0.3x
2025-1016.6x₹3498 cr10.1%16.0%0.3x
2025-0914.7x₹3498 cr10.1%16.0%0.3x
2025-0816.2x₹3505 cr9.5%16.0%0.3x
2025-0718.9x₹3505 cr9.5%16.0%0.3x
2025-0617.4x₹3505 cr9.5%16.0%0.3x
2025-0522.3x₹3098 cr7.8%14.0%0.2x
2025-0416.2x₹3098 cr7.8%14.0%0.2x
2025-0315.8x₹3098 cr7.8%14.0%0.2x
2025-0212.8x₹3199 cr7.5%14.0%0.2x
2025-0117.4x₹3199 cr7.5%14.0%0.2x
2024-1219.6x₹3199 cr7.5%14.0%0.2x
2024-1117.1x₹3411 cr8.0%14.0%0.2x
2024-1017.5x₹3411 cr8.0%14.0%0.2x
2024-0919.5x₹3411 cr8.0%14.0%0.2x
2024-0824.2x₹3152 cr7.5%14.0%0.2x
2024-0727.1x₹3152 cr7.5%14.0%0.2x
2024-0624.0x₹3152 cr7.5%14.0%0.2x
2024-0532.1x₹2231 cr5.9%10.0%0.3x
2024-0436.1x₹2231 cr5.9%10.0%0.3x
2024-0332.5x₹2231 cr5.9%10.0%0.3x
2024-0235.2x₹2231 cr5.9%10.0%0.3x
2024-0139.2x₹2231 cr5.9%10.0%0.3x
2023-1225.6x₹2231 cr5.9%10.0%0.3x
2023-1122.6x₹2231 cr5.9%10.0%0.3x
2023-1020.3x₹2231 cr5.9%10.0%0.3x
2023-0916.7x₹2231 cr5.9%10.0%0.3x
2023-0814.2x₹2231 cr5.9%10.0%0.3x
2023-0712.6x₹2231 cr5.9%10.0%0.3x
2023-0613.7x₹2231 cr5.9%10.0%0.3x
2023-058.0x₹2139 cr10.8%16.0%0.1x
2023-045.5x₹2139 cr10.8%16.0%0.1x
2023-035.4x₹2139 cr10.8%16.0%0.1x
2023-024.9x₹2139 cr10.8%16.0%0.1x
2023-014.7x₹2139 cr10.8%16.0%0.1x
2022-124.5x₹2139 cr10.8%16.0%0.1x
2022-114.7x₹2139 cr10.8%16.0%0.1x
2022-105.3x₹2139 cr10.8%16.0%0.1x
2022-095.5x₹2139 cr10.8%16.0%0.1x
2022-085.2x₹2139 cr10.8%16.0%0.1x
2022-075.6x₹2139 cr10.8%16.0%0.1x
2022-064.3x₹2139 cr10.8%16.0%0.1x
2022-054.2x₹2080 cr12.1%17.0%0.4x
2022-045.2x₹2080 cr12.1%17.0%0.4x
2022-035.4x₹2080 cr12.1%17.0%0.4x
2022-024.5x₹2080 cr12.1%17.0%0.4x
2022-015.7x₹2080 cr12.1%17.0%0.4x
2021-125.7x₹2080 cr12.1%17.0%0.4x

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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