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MAZAGON DOCK SHIPBUILDERS LTD (MAZDOCK)

Producer Manufacturing · Trucks/Construction/Farm 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.86 / 100
Profitability 82Growth 76Balance 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.28 / 100
Price 4Earnings 54FII/DII 24

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withASHOK LEYLANDCOCHIN SHIPYARDCRAFTSMAN AUTOMATION

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,878 latest close · −26.2% over the last 90 sessions

₹2,000₹2,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹2,000₹2,500Jul 3Sep 4Nov 9

₹1,878 month-end · −29.9% over 12 months

₹2,000₹2,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹2,000₹2,500Nov '25May '26Nov '26

₹1,878 month-end · +86.6% over 3 years

₹1,000₹2,000₹3,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,000₹2,000₹3,000Nov '23May '25Nov '26

₹1,878 month-end · +2151.8% since Oct '20

₹0₹1,000₹2,000₹3,000Oct '20Jan '22Mar '23Jun '24Aug '25Nov '26 ₹0₹1,000₹2,000₹3,000Oct '20Nov '23Nov '26

52-week range ₹1687.50 to ₹2848.00 · 1-year volatility 35.2%

Was the rally earned?

-30%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 23 points, but investors now pay less per rupee of profit (P/E 49.8x to 26.5x), which took 53 points back.
  • The share count barely moved.
Net profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23 ptsNet profit growthP/E change: −53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−53 ptsP/E changeShare price: −30%−30%Share priceNet profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23ProfitP/E change: −53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−53P/EShare price: −30%−30%Share price
Net profit growth+23 ptsNet profit rose about 32%, which lifts the price.
P/E change-53 ptsThe P/E fell from 49.8x to 26.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+87%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 130 points, but investors now pay less per rupee of profit (P/E 36.3x to 26.5x), which took 44 points back.
  • The share count barely moved.
Net profit growth: +130 pts. Points of the price return explained by net profit growing (or shrinking).+130 ptsNet profit growthP/E change: −44 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−44 ptsP/E changeShare price: +87%+87%Share priceNet profit growth: +130 pts. Points of the price return explained by net profit growing (or shrinking).+130ProfitP/E change: −44 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−44P/EShare price: +87%+87%Share price
Net profit growth+130 ptsNet profit rose about 155%, which lifts the price.
P/E change-44 ptsThe P/E fell from 36.3x to 26.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+1343%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 863 points and the multiple added 480 points (P/E 10.2x to 26.5x).
  • The share count barely moved.
Net profit growth: +863 pts. Points of the price return explained by net profit growing (or shrinking).+863 ptsNet profit growthP/E change: +480 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+480 ptsP/E changeShare price: +1343%+1343%Share priceNet profit growth: +863 pts. Points of the price return explained by net profit growing (or shrinking).+863ProfitP/E change: +480 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+480P/EShare price: +1343%+1343%Share price
Net profit growth+863 ptsNet profit rose about 456%, which lifts the price.
P/E change+480 ptsThe P/E rose from 10.2x to 26.5x, which lifts 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 ASHOK LEYLAND

How rough has the ride been?

Maximum drawdown-54.5%not yet recovered
1-year volatility35.2%annualised
Beta vs sector index1.393-year daily, correlation 0.57
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%202120222023202420252026−54.5% 0%−20%−40%20232025−54.5%
Largest drawdowns

-54.5% (2025-05 peak to 2026-10 low, not yet recovered)

-32.3% (2024-07 peak to 2024-11 low, recovered 2025-04)

-31.7% (2022-12 peak to 2023-03 low, recovered 2023-06)

Most recent volume spikes

2026-10-27: 7.5x the 50-day median, price -6.5% that day

2026-08-06: 6.3x the 50-day median, price +6.3% 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?

26.5xP/E todayWithin its usual range
Against its own history45th percentile
CheapestMedian 33.4xDearest

Usual range 9.2x to 46.2x since 2020-10.

Against Producer Manufacturing26.5x vs 29.6x
This company
26.5x
Sector median
29.6x

10% below the Producer Manufacturing median.

7.2x23.9x40.6x57.4xOct '20Jan '22Apr '23Jul '24Oct '25Nov '267.2x23.9x40.6x57.4xOct '20Nov '22Dec '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

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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

  • ROCE93rd▼ 3 pts vs a year ago
  • Op. margin70th▲ 23 pts vs a year ago
  • Revenue growth48th▼ 27 pts vs a year ago
  • EPS growth70th▲ 35 pts vs a year ago
  • Debt/equity ↓78th▼ 17 pts vs a year ago
  • Cash cycle ↓97th▲ 39 pts vs a year ago
  • P/E ↓57th▲ 26 pts vs a year ago
  • 12M momentum18th▼ 64 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 43.7x, a holder earning 12%/yr needs earnings to grow about 23.1%/yr for 10 years, then trade at 15x.

Delivered25.6%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−2.5 ptsimplied minus delivered
Rank581stmost demanding of 856

Over time

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

-5%18%40% Jun 2020Nov 2026 -5%18%40% Jun 2020Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.5%25.7%26.8%
15x22.0%23.1%24.2%
20x18.8%19.9%20.9%

Drag a slider to test other assumptions

Implied: 23.1%/yr

Looking back

  • Jan 2021Price implied 4%/yr; EPS has since grown 33%/yr (6.0 yrs)
  • Jan 2022Price implied 5%/yr; EPS has since grown 38%/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
₹1878.00
P/E
26.5x
ROCE
36.0%
Market Cap
₹75768 cr
Revenue (TTM)
₹13323 cr
P/S
5.7x
P/B
7.8x
ROE
29.3%
Operating Margin
15.0%
Debt / Equity
0.0x
Promoter Holding
81.2%
12M Momentum
-29.9%

52-week range

₹1687.50₹2848.00
16% of the way from its 52-week low to its high

Price risk

1Y volatility
35.2%
Beta vs sector
1-year daily
1.07

Balance sheet & cash

Interest cover
operating profit ÷ interest
73.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.02x
low
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 7checks within range1 beyond a threshold
Other income reliance31%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 31.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.02xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.02x (cash from operations ₹132 cr, net profit ₹6,929 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+26 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 26 days (73 vs 47). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress12% of fixed assetsWithin range

Capital work-in-progress is 12% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-97 days / 2 yrsWithin range

Days payable changed by -97 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, DIIs added 4.6 pts; promoters trimmed 3.6 pts; FIIs trimmed 2.0 pts.
  • The number of shareholders rose from 3.1 lakh to 8.1 lakh (+161%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters84.8%81.2%-3.6 pts
FIIs3.7%1.7%-2.0 pts
DIIs0.4%5.0%+4.6 pts
Public and others11.1%12.0%+0.9 pts

Number of shareholders

8.1 lakhshareholders+161% since Sep '23
3.1L4.8L6.4L8.1L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 3.1 lakh
Dec '23: 3.5 lakh
Mar '24: 3.9 lakh
Jun '24: 4.8 lakh
Sep '24: 6.7 lakh
Dec '24: 6.9 lakh
Mar '25: 6.8 lakh
Jun '25: 7.2 lakh
Sep '25: 7.4 lakh
Dec '25: 7.6 lakh
Mar '26: 8.1 lakh
Jun '26: 8.1 lakh
 3.1L4.8L6.4L8.1L Sep '23Sep '24Sep '25Jun '26
Sep '23: 3.1 lakh
Dec '23: 3.5 lakh
Mar '24: 3.9 lakh
Jun '24: 4.8 lakh
Sep '24: 6.7 lakh
Dec '24: 6.9 lakh
Mar '25: 6.8 lakh
Jun '25: 7.2 lakh
Sep '25: 7.4 lakh
Dec '25: 7.6 lakh
Mar '26: 8.1 lakh
Jun '26: 8.1 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

−5.3%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like MAZAGON DOCK SHIPBUILDERS 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 +6% vs the market, against −1% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −4.7%, 80% range −12.0% to −1.6%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%
KPITTECH · Sep 2025: −54.8% vs market
ARE&M · Mar 2021: −49.1% vs market
IGL · Feb 2021: −41.3% vs market
SANOFI · Feb 2025: −33.0% vs market
JYOTHYLAB · Nov 2024: −31.2% vs market
ITC · Aug 2020: −30.6% vs market
HONAUT · May 2021: −30.5% vs market
VINATIORGA · Jun 2023: −28.9% vs market
CERA · Feb 2024: −27.2% vs market
INFY · May 2023: −25.7% vs market
AIAENG · Feb 2021: −25.6% vs market
TTKPRESTIG · Nov 2022: −23.7% vs market
ATUL · Apr 2022: −22.2% vs market
BAJAJ-AUTO · Mar 2021: −19.5% vs market
DIVISLAB · Apr 2023: −17.1% vs market
CROMPTON · May 2021: −16.0% vs market
SUMICHEM · Jul 2023: −14.8% vs market
3MINDIA · Feb 2024: −14.3% vs market
MPHASIS · Jul 2022: −13.0% vs market
IPCALAB · Jun 2021: −11.5% vs market
PIIND · Dec 2023: −10.8% vs market
BOSCHLTD · Feb 2020: −10.0% vs market
LTTS · Apr 2024: −9.7% vs market
OFSS · Feb 2021: −6.4% vs market
CAMS · Dec 2022: −6.0% vs market
ACE · Oct 2025: −4.5% vs market
SUPREMEIND · Apr 2025: −4.1% vs market
EICHERMOT · May 2021: −3.8% vs market
CUMMINSIND · Jan 2020: −2.6% vs market
TATATECH · Oct 2025: −1.2% vs market
GRINDWELL · May 2025: +0.2% vs market
CRISIL · Apr 2024: +0.6% vs market
HINDZINC · Aug 2022: +2.0% vs market
BAJAJCON · Jul 2020: +3.7% vs market
CENTURYPLY · Nov 2022: +4.0% vs market
DEEPAKNTR · Jul 2023: +4.3% vs market
GREAVESCOT · May 2020: +4.5% vs market
COFORGE · May 2022: +6.6% vs market
BERGEPAINT · Jul 2024: +8.1% vs market
EMAMILTD · Jun 2023: +10.8% vs market
JBCHEPHARM · Oct 2021: +14.0% vs market
SCHAEFFLER · Sep 2024: +16.5% vs market
TECHM · Feb 2021: +29.2% vs market
ABBOTINDIA · Apr 2022: +32.3% vs market
COHANCE · Oct 2022: +32.3% vs market
MANKIND · Jul 2024: +34.4% vs market
BEL · Mar 2021: +36.4% vs market
AJANTPHARM · Sep 2025: +49.6% vs market
PERSISTENT · Sep 2022: +54.1% vs market
POLYCAB · Dec 2020: +76.2% vs market
Similar setups −5.3%All companies −0.6%← 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
−5.3%
All companies' median
−0.6%
Beat the market
40% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CRISIL
Commercial Services		 Apr 2024 48x41% +21%−17% +1%
LTTS
Technology Services		 Apr 2024 42x33% +23%−20% −10%
SUPREMEIND
Producer Manufacturing		 Apr 2025 44x29% −30%−43% −4%
MANKIND
Health Technology		 Jul 2024 43x26% +16%−15% +34%
DIVISLAB
Health Technology		 Apr 2023 29x35% −28%−28% −17%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ABBOTINDIA
Health Technology		 Apr 2022 51x35% +13%−26% +32%
SUMICHEM
Process Industries		 Jul 2023 41x29% −9%−22% −15%
OFSS
Technology Services		 Feb 2021 16x40% +16%−14% −6%
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 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 MAZAGON DOCK SHIPBUILDERS 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.

HEXAWARE TECHNOLOGIESHEXT
Technology Services
70%similar
revenueoperating margin
COFORGECOFORGE
Technology Services
66%similar
market caprevenue
GODFREY PHILLIPS INDIAGODFRYPHLP
Consumer Non-Durables
63%similar
operating marginrevenue growth
HYUNDAI MOTOR INDIAHYUNDAI
Consumer Durables
62%similar
promoter holdingROCE
ORACLE FINANCIAL SERVICES SOFTOFSS
Technology Services
58%similar
market capP/E
TENNECO CLEAN AIR INDIA LIMITETENNIND
Producer Manufacturing
76%similar
debt/equityP/E
ABB INDIAABB
Producer Manufacturing
66%similar
revenuepromoter holding
ENDURANCE TECHNOLOGIESENDURANCE
Producer Manufacturing
65%similar
revenuepromoter holding

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

What changed?

30 events since Mar '23

  1. OctPriceFell 54% from the May 2025 peak to the Oct 2026 low.
  2. OctPriceVolume reached 7.5x its 50-day median on 2026-10-27; price -6.5% that day.
  3. AugPriceVolume reached 6.3x its 50-day median on 2026-08-06; price +6.3% that day.
  4. JunResultsYear-on-year EPS growth turned positive.
  5. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
  6. AprPriceVolume reached 6.2x its 50-day median on 2026-04-01; price +12.3% that day.
  7. MarPriceVolume reached 13.3x its 50-day median on 2026-03-06; price +5.1% that day.
  8. DecPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
Show 22 earlier events
  1. SepPromoterPromoter holding fell 3.6 pts to 81.2%.
  2. SepResultsYear-on-year EPS growth turned negative.
  3. SepInstitutionsFII + DII holding rose 4.8 pts over 2 quarters to 7.8%.
  4. SepValuationP/E crossed above the 90th percentile of its own history to date (51.3x).
  5. SepPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  6. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the top quartile).
  7. AprPriceRegained the 2024-07 peak, 5 months after the low.
  8. AprValuationP/E crossed above the 90th percentile of its own history to date (44.8x).
  9. NovPriceFell 32% from the Jul 2024 peak to the Nov 2024 low.
  10. OctPriceVolume reached 5.5x its 50-day median on 2024-10-18; price +6.8% that day.
  11. JulPriceVolume reached 6.3x its 50-day median on 2024-07-04; price +19.2% that day.
  12. JunResultsRevenue (TTM) reached a new high of ₹9,467 cr.
  13. AprValuationP/E crossed above the 90th percentile of its own history to date (42.3x).
  14. AprPriceVolume reached 12.0x its 50-day median on 2024-04-03; price +12.1% that day.
  15. DecPriceVolume reached 9.7x its 50-day median on 2023-12-26; price +7.8% that day.
  16. SepPriceVolume reached 10.1x its 50-day median on 2023-09-08; price +6.0% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹7,827 cr.
  18. JunPriceRegained the 2022-12 peak, 3 months after the low.
  19. JunPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  20. JunPriceVolume reached 30.2x its 50-day median on 2023-06-05; price +17.6% that day.
  21. AprValuationP/E crossed above the 90th percentile of its own history to date (24.9x).
  22. MarPriceFell 32% from the Dec 2022 peak to the Mar 2023 low.

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 history74 months · 2020-10 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1126.5x₹13323 cr29.3%36.0%0.0x
2026-1024.1x₹13323 cr29.2%36.0%0.0x
2026-0929.8x₹13323 cr29.2%36.0%0.0x
2026-0836.2x₹13006 cr28.2%36.0%0.0x
2026-0734.8x₹13006 cr28.2%36.0%0.0x
2026-0636.5x₹13006 cr28.2%36.0%0.0x
2026-0541.2x₹12330 cr30.3%43.0%0.0x
2026-0445.8x₹12330 cr30.3%43.0%0.0x
2026-0334.6x₹12330 cr30.3%43.0%0.0x
2026-0238.5x₹11873 cr29.4%43.0%0.0x
2026-0144.5x₹11873 cr29.4%43.0%0.0x
2025-1243.0x₹11873 cr29.4%43.0%0.0x
2025-1149.8x₹11701 cr27.3%43.0%0.0x
2025-1050.7x₹11701 cr27.3%43.0%0.0x
2025-0951.3x₹11701 cr27.3%43.0%0.0x
2025-0843.5x₹11432 cr30.4%43.0%0.0x
2025-0746.3x₹11432 cr30.4%43.0%0.0x
2025-0654.2x₹11432 cr30.4%43.0%0.0x
2025-0551.0x₹11362 cr44.1%44.0%0.0x
2025-0444.8x₹11362 cr44.1%44.0%0.0x
2025-0338.8x₹11362 cr44.1%44.0%0.0x
2025-0233.4x₹10580 cr41.2%44.0%0.0x
2025-0139.2x₹10580 cr41.2%44.0%0.0x
2024-1235.0x₹10580 cr41.2%44.0%0.0x
2024-1140.0x₹9651 cr37.1%44.0%0.0x
2024-1035.5x₹9651 cr37.1%44.0%0.0x
2024-0936.8x₹9651 cr37.1%44.0%0.0x
2024-0844.2x₹9467 cr31.0%44.0%0.0x
2024-0754.6x₹9467 cr31.0%44.0%0.0x
2024-0644.6x₹9467 cr31.0%44.0%0.0x
2024-0557.4x₹7827 cr23.5%33.0%0.0x
2024-0442.3x₹7827 cr23.5%33.0%0.0x
2024-0333.6x₹7827 cr23.5%33.0%0.0x
2024-0237.6x₹7827 cr23.5%33.0%0.0x
2024-0141.3x₹7827 cr23.5%33.0%0.0x
2023-1241.1x₹7827 cr23.5%33.0%0.0x
2023-1136.3x₹7827 cr23.5%33.0%0.0x
2023-1035.5x₹7827 cr23.5%33.0%0.0x
2023-0939.5x₹7827 cr23.5%33.0%0.0x
2023-0833.3x₹7827 cr23.5%33.0%0.0x
2023-0734.2x₹7827 cr23.5%33.0%0.0x
2023-0622.5x₹7827 cr23.5%33.0%0.0x
2023-0526.7x₹5733 cr15.8%21.0%0.0x
2023-0424.9x₹5733 cr15.8%21.0%0.0x
2023-0321.9x₹5733 cr15.8%21.0%0.0x
2023-0223.8x₹5733 cr15.8%21.0%0.0x
2023-0126.2x₹5733 cr15.8%21.0%0.0x
2022-1226.2x₹5733 cr15.8%21.0%0.0x
2022-1130.0x₹5733 cr15.8%21.0%0.0x
2022-1021.0x₹5733 cr15.8%21.0%0.0x
2022-0916.3x₹5733 cr15.8%21.0%0.0x
2022-0812.9x₹5733 cr15.8%21.0%0.0x
2022-079.2x₹5733 cr15.8%21.0%0.0x
2022-068.1x₹5733 cr15.8%21.0%0.0x
2022-0510.9x₹4048 cr15.0%23.0%0.0x
2022-0411.8x₹4048 cr15.0%23.0%0.0x
2022-039.4x₹4048 cr15.0%23.0%0.0x
2022-029.4x₹4048 cr15.0%23.0%0.0x
2022-0110.6x₹4048 cr15.0%23.0%0.0x
2021-1210.9x₹4048 cr15.0%23.0%0.0x
2021-1110.2x₹4048 cr15.0%23.0%0.0x
2021-1010.1x₹4048 cr15.0%23.0%0.0x
2021-099.9x₹4048 cr15.0%23.0%0.0x
2021-089.3x₹4048 cr15.0%23.0%0.0x
2021-0710.2x₹4048 cr15.0%23.0%0.0x
2021-069.5x₹4048 cr15.0%23.0%0.0x
2021-059.0x₹4905 cr15.4%24.0%0.0x
2021-048.6x₹4905 cr15.4%24.0%0.0x
2021-039.1x₹4905 cr15.4%24.0%0.0x
2021-029.1x₹4905 cr15.4%24.0%0.0x
2021-019.0x₹4905 cr15.4%24.0%0.0x
2020-129.4x₹4905 cr15.4%24.0%0.0x
2020-117.7x₹4905 cr15.4%24.0%0.0x
2020-107.2x₹4905 cr15.4%24.0%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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