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MARATHON NEXTGEN REALTY LTD (MARATHON)

Finance · Real Estate Development · 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.56 / 100
Profitability 46Growth 22Balance 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.55 / 100
Price 75Earnings 35
Compare withDLFLODHA DEVELOPERSPHOENIX MILLS

Share price

Closing priceAdjusted for splits and bonus issues.

₹397.9 latest close · −6.9% over the last 90 sessions

₹350₹400₹450Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹350₹400₹450Jul 3Sep 4Nov 9

₹397.9 month-end · −27.5% over 12 months

₹400₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹400₹500Nov '25May '26Nov '26

₹397.9 month-end · −13.7% over 3 years

₹400₹600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600Nov '23May '25Nov '26

₹397.9 month-end · +267.9% since Jan '19

₹0₹200₹400₹600Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400₹600Jan '19Dec '22Nov '26

52-week range ₹344.05 to ₹616.90 · 1-year volatility 43.0%

Was the rally earned?

-28%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 30 points, while the multiple moved less (P/E 13.4x to 13.9x).
  • The share count rose 29%.
Net profit growth: −9 pts. Points of the price return explained by net profit growing (or shrinking).−9 ptsNet profit growthP/E change: +3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+3 ptsP/E changeShare count change: −22 pts. Points of the price return explained by the share count changing. More shares count against the price.−22 ptsShare count changeShare price: −27%−27%Share priceNet profit growth: −9 pts. Points of the price return explained by net profit growing (or shrinking).−9ProfitP/E change: +3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+3P/EShare count change: −22 pts. Points of the price return explained by the share count changing. More shares count against the price.−22SharesShare price: −27%−27%Share price
Net profit growth-9 ptsNet profit fell about 10%, which lowers the price.
P/E change+3 ptsThe P/E rose from 13.4x to 13.9x, which lifts the price.
Share count change-22 ptsShare count rose 29%, which lowers the price.
-14%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 9 points, but investors now pay less per rupee of profit (P/E 17.6x to 13.9x), which took 22 points back.
  • The share count rose 42%.
Net profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41 ptsNet profit growthP/E change: −22 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−22 ptsP/E changeShare count change: −33 pts. Points of the price return explained by the share count changing. More shares count against the price.−33 ptsShare count changeShare price: −14%−14%Share priceNet profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41ProfitP/E change: −22 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−22P/EShare count change: −33 pts. Points of the price return explained by the share count changing. More shares count against the price.−33SharesShare price: −14%−14%Share price
Net profit growth+41 ptsNet profit rose about 56%, which lifts the price.
P/E change-22 ptsThe P/E fell from 17.6x to 13.9x, which lowers the price.
Share count change-33 ptsShare count rose 42%, which lowers the price.
+437%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 562 points, but investors now pay less per rupee of profit (P/E 22.4x to 13.9x), which took 125 points back.
  • The share count rose 39%.
Net profit growth: +648 pts. Points of the price return explained by net profit growing (or shrinking).+648 ptsNet profit growthP/E change: −125 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−125 ptsP/E changeShare count change: −86 pts. Points of the price return explained by the share count changing. More shares count against the price.−86 ptsShare count changeShare price: +437%+437%Share priceNet profit growth: +648 pts. Points of the price return explained by net profit growing (or shrinking).+648ProfitP/E change: −125 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−125P/EShare count change: −86 pts. Points of the price return explained by the share count changing. More shares count against the price.−86SharesShare price: +437%+437%Share price
Net profit growth+648 ptsNet profit rose about 1110%, which lifts the price.
P/E change-125 ptsThe P/E fell from 22.4x to 13.9x, which lowers the price.
Share count change-86 ptsShare count rose 39%, 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 DLF

How rough has the ride been?

Maximum drawdown-73.4%recovered 2022-04
1-year volatility43.0%annualised
Beta vs sector index1.053-year daily, correlation 0.40
Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−72.7% 0%−20%−40%−60%2020202220242026−72.7%
Largest drawdowns

-73.4% (2019-04 peak to 2020-03 low, recovered 2022-04)

-54.4% (2025-07 peak to 2026-08 low, not yet recovered)

-49.0% (2024-09 peak to 2025-03 low, recovered 2025-07)

Most recent volume spikes

2026-11-02: 5.3x the 50-day median, price +2.8% that day

2026-10-21: 6x the 50-day median, price -7.6% that day

2026-09-04: 5.8x the 50-day median, price +0.7% 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?

13.9xP/E todayWithin its usual range
Against its own history39th percentile
CheapestMedian 14.7xDearest

Usual range 10.4x to 30.2x since 2019-01.

Against Finance13.9x vs 18.1x
This company
13.9x
Sector median
18.1x

23% below the Finance median.

6.0x19.1x32.2x45.3xJan '19Aug '20Mar '22Oct '23May '25Nov '266.0x19.1x32.2x45.3xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Finance peers?

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

  • ROCE48th▼ 9 pts vs a year ago
  • Op. margin45th▲ 9 pts vs a year ago
  • Revenue growth28th▲ 6 pts vs a year ago
  • EPS growth23rd▼ 53 pts vs a year ago
  • Debt/equity ↓62nd▲ 30 pts vs a year ago
  • Cash cycle ↓45th▲ 7 pts vs a year ago
  • P/E ↓68th▼ 11 pts vs a year ago
  • 12M momentum28th▼ 40 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

~14%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 18.8x, a holder earning 12%/yr needs earnings to grow about 14.4%/yr for 10 years, then trade at 15x.

Delivered18.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−4.1 ptsimplied minus delivered
Rank613thmost demanding of 856

Over time

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

-26%1%27% Jan 2019Nov 2026 -26%1%27% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x15.9%16.9%18.0%
15x13.4%14.4%15.4%
20x10.2%11.2%12.2%

Drag a slider to test other assumptions

Implied: 14.4%/yr

Looking back

  • Jan 2020Price implied 4%/yr; EPS has since grown 23%/yr (7.0 yrs)
  • Jan 2021Price implied 4%/yr; EPS has since grown 33%/yr (6.0 yrs)
  • Jan 2022Price implied 10%/yr; EPS has since grown 54%/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 Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹397.90
P/E
13.9x
ROCE
8.0%
Market Cap
₹2685 cr
Revenue (TTM)
₹554 cr
P/S
4.8x
P/B
1.2x
ROE
8.5%
Operating Margin
24.0%
Debt / Equity
0.0x
Promoter Holding
56.4%
12M Momentum
-27.5%

52-week range

₹344.05₹616.90
20% of the way from its 52-week low to its high

Price risk

1Y volatility
43.0%
Beta vs sector
1-year daily
1.01

Balance sheet & cash

Interest cover
operating profit ÷ interest
82.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.10x
low
Share count, 1Y
+30.8%

Are profits backed by cash?

4 of 6checks within range2 beyond a threshold
Other income reliance45%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 44.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate23%Within range

Median quarterly effective tax rate over about 2.5 years: 23.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.10xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.10x (cash from operations ₹-57 cr, net profit ₹566 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-7 daysWithin range

Debtor days are below the median of the previous three fiscal years by 7 days (42 vs 49). 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—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, promoters trimmed 17.0 pts; DIIs added 14.7 pts; FIIs added 2.3 pts.
  • The number of shareholders rose from 10,201 to 14,230 (+39%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters73.5%56.4%-17.0 pts
FIIs2.3%4.7%+2.3 pts
DIIs0.0%14.7%+14.7 pts
Public and others24.2%24.2%0.0 pts

Number of shareholders

14,230shareholders+39% since Sep '23
10k12k14k15k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 10,201
Dec '23: 10,330
Mar '24: 10,910
Jun '24: 9,787
Sep '24: 10,635
Dec '24: 10,762
Mar '25: 10,706
Jun '25: 11,069
Sep '25: 15,447
Dec '25: 15,442
Mar '26: 14,399
Jun '26: 14,230
 10k12k14k15k Sep '23Sep '24Sep '25Jun '26
Sep '23: 10,201
Dec '23: 10,330
Mar '24: 10,910
Jun '24: 9,787
Sep '24: 10,635
Dec '24: 10,762
Mar '25: 10,706
Jun '25: 11,069
Sep '25: 15,447
Dec '25: 15,442
Mar '26: 14,399
Jun '26: 14,230

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

+13.3%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like MARATHON NEXTGEN REALTY 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 −22% to +39% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +17.9%, 80% range +0.3% to +26.7%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%+100%
AIRAN · Aug 2025: −44.7% vs market
DELTACORP · Jan 2025: −40.3% vs market
BHARATRAS · May 2025: −37.2% vs market
LAOPALA · Oct 2025: −33.4% vs market
NOCIL · Aug 2024: −32.1% vs market
BALMLAWRIE · Mar 2021: −29.1% vs market
ANTELOPUS · Nov 2020: −28.9% vs market
SANOFI · Sep 2024: −28.5% vs market
NINSYS · Jan 2025: −27.5% vs market
GUJALKALI · Jun 2020: −25.7% vs market
CHEMCON · Dec 2022: −22.8% vs market
EXCELINDUS · Dec 2020: −22.6% vs market
FINPIPE · Sep 2024: −22.2% vs market
KIRIINDUS · Jun 2021: −21.3% vs market
ELDEHSG · Jul 2024: −19.2% vs market
JUSTDIAL · Jul 2025: −19.1% vs market
INDNIPPON · Jun 2020: −18.2% vs market
SANDESH · Sep 2025: −15.5% vs market
TECHNOE · Sep 2020: −15.1% vs market
ADVENZYMES · Jun 2025: −4.5% vs market
IPL · Mar 2025: −3.7% vs market
SASKEN · Aug 2024: −0.2% vs market
WONDERLA · Apr 2021: +7.6% vs market
OSWALGREEN · Apr 2023: +10.2% vs market
SREEL · Jan 2022: +13.1% vs market
AMJLAND · Mar 2021: +13.4% vs market
SILINV · Dec 2021: +15.2% vs market
GEOJITFSL · Mar 2024: +19.6% vs market
GRAPHITE · Jan 2025: +22.3% vs market
GPPL · Sep 2022: +22.9% vs market
NIITLTD · Jun 2024: +24.6% vs market
KRSNAA · Apr 2024: +25.2% vs market
QUICKHEAL · Mar 2020: +28.3% vs market
APCOTEXIND · Mar 2020: +29.2% vs market
SHILPAMED · Jan 2020: +33.3% vs market
XCHANGING · Apr 2023: +36.0% vs market
SUPRIYA · Sep 2023: +38.1% vs market
TTKHLTCARE · Sep 2021: +39.1% vs market
JAICORPLTD · Sep 2021: +43.2% vs market
HINDCOMPOS · May 2020: +46.3% vs market
SESHAPAPER · Sep 2021: +47.7% vs market
BALAMINES · Aug 2025: +48.1% vs market
CARERATING · Sep 2022: +49.4% vs market
BOROLTD · Jul 2021: +49.5% vs market
DEEPINDS · Apr 2024: +54.4% vs market
SANDUMA · Jan 2025: +59.7% vs market
GMDCLTD · Jan 2025: +69.1% vs market
SEAMECLTD · Jun 2021: +77.8% vs market
HINDOILEXP · Sep 2020: +77.8% vs market
RAILTEL · Aug 2022: +89.2% vs market
Similar setups +13.3%All companies −4.6%← 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

Similar setups' median
+13.3%
All companies' median
−4.6%
Beat the market
56% vs 45%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JUSTDIAL
Technology Services		 Jul 2025 20x5% −34%−38% −19%
SANOFI
Health Technology		 Sep 2024 30x— +9%−22% −29%
WONDERLA
Consumer Services		 Apr 2021 16x8% +38%−19% +8%
BHARATRAS
Process Industries		 May 2025 21x12% −15%−34% −37%
ADVENZYMES
Consumer Non-Durables		 Jun 2025 27x13% −16%−42% −5%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
NOCIL
Process Industries		 Aug 2024 35x10% +26%−15% −32%
XCHANGING
Technology Services		 Apr 2023 12x10% −28%−31% +36%
NINSYS
Technology Services		 Jan 2025 38x— −17%−33% −28%
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: drawdown from 12-month high, 12-month momentum and revenue growth. 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 MARATHON NEXTGEN REALTY 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.

IRM ENERGYIRMENERGY
Energy Minerals
64%similar
P/EROCE
SAI SILKS KALAMANDIRKALAMANDIR
Retail Trade
60%similar
volatilityEPS growth
EXCELL INDUSTRIESEXCELINDUS
Process Industries
58%similar
ROCEP/E
NAVNEET EDUCATIONNAVNETEDUL
Producer Manufacturing
56%similar
market capdebt/equity
SREE RAYALASEEMA HI-STRENGTH HSRHHYPOLTD
Process Industries
55%similar
revenue growthrevenue
MAN INFRACONSTRUCTIONMANINFRA
Finance
70%similar
revenuedebt/equity
VLS FINANCEVLSFINANCE
Finance
59%similar
revenue growthpromoter holding
TRANSINDIA REALTY LOGISTICTREL
Finance
44%similar
volatilityP/E

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. OctPriceVolume reached 6.0x its 50-day median on 2026-10-21; price -7.6% that day.
  2. SepPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  3. AugPriceFell 54% from the Jul 2025 peak to the Aug 2026 low.
  4. AugPriceVolume reached 49.7x its 50-day median on 2026-08-24; price +20.0% that day.
  5. JunResultsYear-on-year EPS growth turned negative.
  6. JunPeer rankSlipped to the 3rd quartile of Finance on ROCE (from the 2nd quartile).
  7. JunDebtDebt / equity halved over 12 months to 0.04x.
  8. JunSharesShare count is up 30.8% over 12 months.
Show 22 earlier events
  1. MarPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  2. MarPriceVolume reached 11.5x its 50-day median on 2026-03-10; price +4.8% that day.
  3. DecPromoterPromoter holding fell 17.7 pts to 55.9%.
  4. DecInstitutionsFII + DII holding rose 19.2 pts over 1 quarter to 22.5%.
  5. DecPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
  6. OctPriceVolume reached 10.6x its 50-day median on 2025-10-17; price +6.5% that day.
  7. SepPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  8. JulPriceRegained the 2024-09 peak, 4 months after the low.
  9. JulPriceVolume reached 24.6x its 50-day median on 2025-07-07; price +3.9% that day.
  10. JunPeer rankMoved into the 2nd quartile of Finance on operating margin (from the 3rd quartile).
  11. JunPriceVolume reached 30.4x its 50-day median on 2025-06-24; price +1.6% that day.
  12. MarPriceFell 49% from the Sep 2024 peak to the Mar 2025 low.
  13. JanPriceVolume reached 12.2x its 50-day median on 2025-01-09; price -5.8% that day.
  14. DecInstitutionsFII + DII holding rose 4.2 pts over 2 quarters to 4.8%.
  15. DecPeer rankSlipped to the 3rd quartile of Finance on operating margin (from the 2nd quartile).
  16. SepPriceVolume reached 11.2x its 50-day median on 2024-09-16; price +8.8% that day.
  17. JunPriceRegained the 2024-03 peak, 0 months after the low.
  18. JunPriceFell 31% from the Mar 2024 peak to the Jun 2024 low.
  19. JunPeer rankSlipped to the 2nd quartile of Finance on ROCE (from the top quartile).
  20. JunDebtDebt / equity fell below 1.0x (0.76x).
  21. JunSharesShare count is up 13.0% over 12 months.
  22. JunPriceVolume reached 19.0x its 50-day median on 2024-06-18; price +19.0% 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
2026-1113.9x₹554 cr8.5%8.0%0.0x
2026-1013.0x₹554 cr8.7%8.0%0.0x
2026-0913.6x₹554 cr8.7%8.0%0.0x
2026-0812.5x₹497 cr9.1%8.0%0.0x
2026-0711.8x₹497 cr9.1%8.0%0.0x
2026-0612.2x₹497 cr9.1%8.0%0.0x
2026-0512.6x₹532 cr18.2%12.0%0.5x
2026-0412.8x₹532 cr18.2%12.0%0.5x
2026-0310.4x₹532 cr18.2%12.0%0.5x
2026-0210.5x₹530 cr19.5%12.0%0.5x
2026-0112.6x₹530 cr19.5%12.0%0.5x
2025-1213.5x₹530 cr19.5%12.0%0.5x
2025-1113.4x₹559 cr18.0%12.0%0.5x
2025-1014.7x₹559 cr18.0%12.0%0.5x
2025-0914.4x₹559 cr18.0%12.0%0.5x
2025-0817.4x₹580 cr16.0%12.0%0.5x
2025-0719.5x₹580 cr16.0%12.0%0.5x
2025-0617.9x₹580 cr16.0%12.0%0.5x
2025-0514.3x₹586 cr17.5%16.0%0.8x
2025-0414.6x₹586 cr17.5%16.0%0.8x
2025-0315.3x₹586 cr17.5%16.0%0.8x
2025-0211.5x₹673 cr17.7%16.0%0.8x
2025-0115.8x₹673 cr17.7%16.0%0.8x
2024-1217.1x₹673 cr17.7%16.0%0.8x
2024-1118.4x₹656 cr16.2%16.0%0.8x
2024-1018.3x₹656 cr16.2%16.0%0.8x
2024-0921.8x₹656 cr16.2%16.0%0.8x
2024-0818.0x₹705 cr16.8%16.0%0.8x
2024-0718.7x₹705 cr16.8%16.0%0.8x
2024-0617.7x₹705 cr16.8%16.0%0.8x
2024-0514.3x₹717 cr15.8%17.0%1.1x
2024-0416.6x₹717 cr15.8%17.0%1.1x
2024-0319.6x₹717 cr15.8%17.0%1.1x
2024-0218.7x₹717 cr15.8%17.0%1.1x
2024-0115.3x₹717 cr15.8%17.0%1.1x
2023-1216.0x₹717 cr15.8%17.0%1.1x
2023-1117.6x₹717 cr15.8%17.0%1.1x
2023-1015.1x₹717 cr15.8%17.0%1.1x
2023-0917.4x₹717 cr15.8%17.0%1.1x
2023-0814.3x₹717 cr15.8%17.0%1.1x
2023-0713.1x₹717 cr15.8%17.0%1.1x
2023-0612.2x₹717 cr15.8%17.0%1.1x
2023-0535.2x₹306 cr6.0%7.0%1.7x
2023-0436.5x₹306 cr6.0%7.0%1.7x
2023-0333.0x₹306 cr6.0%7.0%1.7x
2023-0230.9x₹306 cr6.0%7.0%1.7x
2023-0128.8x₹306 cr6.0%7.0%1.7x
2022-1227.4x₹306 cr6.0%7.0%1.7x
2022-1129.0x₹306 cr6.0%7.0%1.7x
2022-1025.7x₹306 cr6.0%7.0%1.7x
2022-0926.1x₹306 cr6.0%7.0%1.7x
2022-0827.4x₹306 cr6.0%7.0%1.7x
2022-0726.6x₹306 cr6.0%7.0%1.7x
2022-0624.1x₹306 cr6.0%7.0%1.7x
2022-0545.3x₹206 cr2.6%6.0%1.2x
2022-0441.6x₹206 cr2.6%6.0%1.2x
2022-0335.8x₹206 cr2.6%6.0%1.2x
2022-0229.2x₹206 cr2.6%6.0%1.2x
2022-0130.9x₹206 cr2.6%6.0%1.2x
2021-1233.5x₹206 cr2.6%6.0%1.2x

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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