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MCLEOD RUSSEL INDIA LIMITED (MCLEODRUSS)

Consumer Non-Durables · Food: Specialty/Candy · 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.17 / 100
Profitability 22Growth 12
Compare withBRITANNIA INDUSTRIESTATA CONSUMER PRODUCTSCCL PRODUCTS INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹44.07 latest close · −20.6% over the last 90 sessions

₹40₹45₹50₹55Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹40₹45₹50₹55Jul 3Sep 4Nov 9

₹44.07 month-end · −17.7% over 12 months

₹40₹60₹80Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹40₹60₹80Nov '25May '26Nov '26

₹44.07 month-end · +103.6% over 3 years

₹20₹40₹60₹80Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹20₹40₹60₹80Nov '23May '25Nov '26

₹44.07 month-end · −54.6% since Jan '19

₹0₹50₹100Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹50₹100Jan '19Dec '22Nov '26

52-week range ₹28.50 to ₹78.41 · 1-year volatility 54.7%

How rough has the ride been?

Maximum drawdown-98.4%not yet recovered
1-year volatility54.7%annualised

Drawdown from peak

0%−50%−100%2020202120222023202420252026−98.4% 0%−50%−100%2020202220242026−98.4%
Largest drawdowns

-98.4% (2019-01 peak to 2020-03 low, not yet recovered)

Where does it rank among Consumer Non-Durables peers?

Each cell is the company's percentile rank among its Consumer Non-Durables 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

  • ROCE3rd▼ 6 pts vs a year ago
  • Op. margin42nd▲ 30 pts vs a year ago
  • Revenue growth21st▼ 30 pts vs a year ago
  • Debt/equity ↓1stflat vs a year ago
  • Cash cycle ↓50th▼ 37 pts vs a year ago
  • 12M momentum46th▼ 45 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
Debt/equity ↓
Cash cycle ↓
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 Consumer Non-Durables sector page Watch it move against Consumer Non-Durables 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 Consumer Non-Durables The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹44.07
ROCE
-5.0%
Market Cap
₹461 cr
Revenue (TTM)
₹1199 cr
P/S
0.4x
Operating Margin
11.0%
Promoter Holding
6.3%
12M Momentum
-17.7%

52-week range

₹28.50₹78.41
31% of the way from its 52-week low to its high

Price risk

1Y volatility
54.7%
Beta vs sector
1-year daily
1.41

Balance sheet & cash

Interest cover
operating profit ÷ interest
-1.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
5.00x
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 4checks within range1 near a threshold
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 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-3 daysWithin range

Debtor days are below the median of the previous three fiscal years by 3 days (12 vs 15). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress3% of fixed assetsWithin range

Capital work-in-progress is 3% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+248 days / 2 yrsNear threshold

Days payable changed by +248 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 2 years, DIIs trimmed 0.8 pts.
  • The number of shareholders fell from 65,985 to 58,315 (-12%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters6.3%6.3%0.0 pts
FIIs1.4%1.5%+0.1 pts
DIIs1.3%0.5%-0.8 pts
Public and others91.0%91.7%+0.7 pts

Number of shareholders

58,315shareholders-12% since Dec '23
58k61k63k66k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 65,985
Mar '24: 65,501
Jun '24: 64,865
Sep '24: 65,826
Dec '24: 64,587
Mar '25: 63,580
Jun '25: 62,795
Sep '25: 63,840
Dec '25: 61,762
Mar '26: 60,812
Jun '26: 58,315
 58k61k63k66k Dec '23Dec '24Dec '25Jun '26
Dec '23: 65,985
Mar '24: 65,501
Jun '24: 64,865
Sep '24: 65,826
Dec '24: 64,587
Mar '25: 63,580
Jun '25: 62,795
Sep '25: 63,840
Dec '25: 61,762
Mar '26: 60,812
Jun '26: 58,315

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

+2.4%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 MCLEOD RUSSEL 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 −18% to +49% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+3.4%, 80% range −5.9% to +22.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ASTRON · Sep 2023: −59.7% vs market
BLBLIMITED · Mar 2024: −57.6% vs market
NETWORK18 · Mar 2024: −51.4% vs market
SHIVAMAUTO · Jun 2025: −50.4% vs market
PRAXIS · Dec 2023: −43.6% vs market
SETCO · Oct 2021: −40.8% vs market
SPENCERS · Apr 2024: −39.0% vs market
APCL · Oct 2025: −31.0% vs market
ASIANTILES · Mar 2024: −27.2% vs market
RAMANEWS · Jan 2022: −26.9% vs market
TEXMOPIPES · Sep 2023: −23.3% vs market
NITCO · Apr 2022: −22.6% vs market
NAGAFERT · May 2022: −18.4% vs market
HTMEDIA · Sep 2021: −15.3% vs market
KHADIM · Mar 2022: −12.4% vs market
MARALOVER · Apr 2024: −11.2% vs market
HMVL · May 2024: −8.6% vs market
SCHAND · Apr 2021: −8.5% vs market
VISACHROME · Oct 2022: −7.7% vs market
A2ZINFRA · Dec 2022: −7.4% vs market
KHAICHEM · Apr 2025: −5.4% vs market
NIPPOBATRY · Aug 2023: −4.1% vs market
ZEEMEDIA · Aug 2024: +0.7% vs market
SHEMAROO · Aug 2025: +1.1% vs market
RML · Nov 2020: +2.2% vs market
KANORICHEM · May 2025: +2.7% vs market
INDTERRAIN · Feb 2022: +6.4% vs market
INSPIRISYS · Aug 2022: +12.1% vs market
PRAKASHSTL · Oct 2023: +14.1% vs market
NECLIFE · Oct 2023: +18.4% vs market
BRNL · May 2023: +25.9% vs market
MTNL · Nov 2020: +32.9% vs market
ALPHAGEO · Dec 2020: +35.0% vs market
AUTOIND · Nov 2020: +35.8% vs market
ELGIRUBCO · Aug 2020: +36.9% vs market
MADRASFERT · Feb 2020: +42.7% vs market
GINNIFILA · Oct 2024: +47.1% vs market
BHARATGEAR · Aug 2020: +49.1% vs market
SHREERAMA · May 2023: +63.0% vs market
RTNPOWER · May 2020: +69.9% vs market
INDORAMA · Jun 2020: +74.0% vs market
JAYNECOIND · Feb 2020: +76.5% vs market
PRICOLLTD · Dec 2020: +76.6% vs market
KECL · Jul 2021: +85.2% vs market
ZUARIIND · Apr 2021: +89.4% vs market
MINDTECK · Oct 2020: +102.4% vs market
IMAGICAA · Apr 2021: +106.3% vs market
ONIDA · Jul 2025: +140.0% vs market
CLEDUCATE · May 2021: +177.4% vs market
SDBL · Nov 2021: +233.3% vs market
Similar setups +2.4%All companies −1.0%← 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
+2.4%
All companies' median
−1.0%
Beat the market
56% vs 49%

50 past situations · 50 companies · 37 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MADRASFERT
Process Industries		 Feb 2020 —-1% −32%−54% +43%
INDORAMA
Process Industries		 Jun 2020 —— −35%−49% +74%
NITCO
Producer Manufacturing		 Apr 2022 —-11% +35%−36% −23%
ONIDA
Consumer Durables		 Jul 2025 —-3% −26%−47% +140%
SETCO
Producer Manufacturing		 Oct 2021 —-8% +89%−28% −41%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SPENCERS
Retail Trade		 Apr 2024 —-8% +68%−26% −39%
NAGAFERT
Process Industries		 May 2022 —-10% +22%−41% −18%
RML
Producer Manufacturing		 Nov 2020 —-1% −6%−35% +2%
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.

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 MCLEOD RUSSEL 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 changed?

11 events since Jun '19

  1. SepPeer rankMoved into the 3rd quartile of Consumer Non-Durables on operating margin (from the bottom quartile).
  2. MarPeer rankSlipped to the bottom quartile of Consumer Non-Durables on operating margin (from the top quartile).
  3. DecPeer rankMoved into the top quartile of Consumer Non-Durables on operating margin (from the bottom quartile).
  4. MarPeer rankSlipped to the bottom quartile of Consumer Non-Durables on operating margin (from the top quartile).
  5. DecPeer rankMoved into the top quartile of Consumer Non-Durables on operating margin (from the bottom quartile).
  6. JunResultsEPS (TTM) turned negative.
  7. JunDebtDebt / equity rose above 1.0x (1.27x).
  8. JunSharesShare count is up 18.2% over 12 months.
Show 3 earlier events
  1. MarPriceFell 98% from the Jan 2019 peak to the Mar 2020 low.
  2. JunPeer rankSlipped to the bottom quartile of Consumer Non-Durables on ROCE (from the 3rd quartile).
  3. JunDividendDividend payout cut from 2% to 0% of profit.

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
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—₹1199 cr—-5.0%—
2026-10—₹1199 cr—-5.0%—
2026-09—₹1199 cr—-5.0%—
2026-08—₹1154 cr—-5.0%—
2026-07—₹1154 cr—-5.0%—
2026-06—₹1154 cr—-5.0%—
2026-05—₹1189 cr-400.0%-2.0%34.0x
2026-04—₹1189 cr-400.0%-2.0%34.0x
2026-03—₹1189 cr-400.0%-2.0%34.0x
2026-02—₹1115 cr-491.1%-2.0%34.0x
2026-01—₹1115 cr-491.1%-2.0%34.0x
2025-12—₹1115 cr-491.1%-2.0%34.0x
2025-11—₹1205 cr-391.1%-2.0%34.0x
2025-10—₹1205 cr-391.1%-2.0%34.0x
2025-09—₹1205 cr-391.1%-2.0%34.0x
2025-08—₹1186 cr-351.8%-2.0%34.0x
2025-07—₹1186 cr-351.8%-2.0%34.0x
2025-06—₹1186 cr-351.8%-2.0%34.0x
2025-05—₹1216 cr-96.4%-7.0%7.6x
2025-04—₹1216 cr-96.4%-7.0%7.6x
2025-03—₹1216 cr-96.4%-7.0%7.6x
2025-02—₹1194 cr-94.4%-7.0%7.6x
2025-01—₹1194 cr-94.4%-7.0%7.6x
2024-12—₹1194 cr-94.4%-7.0%7.6x
2024-11—₹1107 cr-104.0%-7.0%7.6x
2024-10—₹1107 cr-104.0%-7.0%7.6x
2024-09—₹1107 cr-104.0%-7.0%7.6x
2024-08—₹1136 cr-124.8%-7.0%7.6x
2024-07—₹1136 cr-124.8%-7.0%7.6x
2024-06—₹1136 cr-124.8%-7.0%7.6x
2024-05—₹1370 cr-185.8%1.0%3.4x
2024-04—₹1370 cr-185.8%1.0%3.4x
2024-03—₹1370 cr-185.8%1.0%3.4x
2024-02—₹1370 cr-185.8%1.0%3.4x
2024-01—₹1370 cr-185.8%1.0%3.4x
2023-12—₹1370 cr-185.8%1.0%3.4x
2023-11—₹1370 cr-185.8%1.0%3.4x
2023-10—₹1370 cr-185.8%1.0%3.4x
2023-09—₹1370 cr-185.8%1.0%3.4x
2023-08—₹1370 cr-185.8%1.0%3.4x
2023-07—₹1370 cr-185.8%1.0%3.4x
2023-06—₹1370 cr-185.8%1.0%3.4x
2023-05—₹1356 cr-11.0%0.0%1.3x
2023-04—₹1356 cr-11.0%0.0%1.3x
2023-03—₹1356 cr-11.0%0.0%1.3x
2023-02—₹1356 cr-11.0%0.0%1.3x
2023-01—₹1356 cr-11.0%0.0%1.3x
2022-12—₹1356 cr-11.0%0.0%1.3x
2022-11—₹1356 cr-11.0%0.0%1.3x
2022-10—₹1356 cr-11.0%0.0%1.3x
2022-09—₹1356 cr-11.0%0.0%1.3x
2022-08—₹1356 cr-11.0%0.0%1.3x
2022-07—₹1356 cr-11.0%0.0%1.3x
2022-06—₹1356 cr-11.0%0.0%1.3x
2022-05—₹1438 cr-2.9%3.0%1.2x
2022-04—₹1438 cr-2.9%3.0%1.2x
2022-03—₹1438 cr-2.9%3.0%1.2x
2022-02—₹1438 cr-2.9%3.0%1.2x
2022-01—₹1438 cr-2.9%3.0%1.2x
2021-12—₹1438 cr-2.9%3.0%1.2x
2021-11—₹1438 cr-2.9%3.0%1.2x
2021-10—₹1438 cr-2.9%3.0%1.2x
2021-09—₹1438 cr-2.9%3.0%1.2x
2021-08—₹1438 cr-2.9%3.0%1.2x
2021-07—₹1438 cr-2.9%3.0%1.2x
2021-06—₹1438 cr-2.9%3.0%1.2x
2021-05—₹1143 cr-8.0%0.0%1.3x
2021-04—₹1143 cr-8.0%0.0%1.3x
2021-03—₹1143 cr-8.0%0.0%1.3x
2021-02—₹1143 cr-8.0%0.0%1.3x
2021-01—₹1143 cr-8.0%0.0%1.3x
2020-12—₹1143 cr-8.0%0.0%1.3x
2020-11—₹1143 cr-8.0%0.0%1.3x
2020-10—₹1143 cr-8.0%0.0%1.3x
2020-09—₹1143 cr-8.0%0.0%1.3x
2020-08—₹1143 cr-8.0%0.0%1.3x
2020-07—₹1143 cr-8.0%0.0%1.3x
2020-06—₹1143 cr-8.0%0.0%1.3x
2020-051.4x₹1723 cr1.9%3.0%0.9x
2020-041.4x₹1723 cr1.9%3.0%0.9x
2020-03—₹1723 cr1.9%3.0%0.9x
2020-021.0x₹1723 cr1.9%3.0%0.9x
2020-011.5x₹1723 cr1.9%3.0%0.9x
2019-121.5x₹1723 cr1.9%3.0%0.9x
2019-112.3x₹1723 cr1.9%3.0%0.9x
2019-102.3x₹1723 cr1.9%3.0%0.9x
2019-092.9x₹1723 cr1.9%3.0%0.9x
2019-084.0x₹1723 cr1.9%3.0%0.9x
2019-073.4x₹1723 cr1.9%3.0%0.9x
2019-065.4x₹1723 cr1.9%3.0%0.9x
2019-051.8x₹2055 cr10.1%8.0%0.5x
2019-043.2x₹2055 cr10.1%8.0%0.5x
2019-034.5x₹2055 cr10.1%8.0%0.5x
2019-024.6x₹2055 cr10.1%8.0%0.5x
2019-015.1x₹2055 cr10.1%8.0%0.5x

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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