MEGASTAR FOODS LTD (MEGASTAR): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹292 latest close · −20.4% over the last 90 sessions

₹292 month-end · +19.1% over 12 months

₹292 month-end · −24.1% over 3 years

₹292 month-end · +103.2% since Feb '22

52-week range ₹204.40 to ₹392.00 · 1-year volatility 43.9%

Was the rally earned?

1 year3 years

+19%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 79 points, but investors now pay less per rupee of profit (P/E 57.4x to 33.3x), which took 60 points back.
The share count barely moved.

Net profit growth+79 ptsNet profit rose about 105%, which lifts the price.

P/E change-60 ptsThe P/E fell from 57.4x to 33.3x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-24%share price, 3 yearsEarnings and multiple

Both mattered.

Per-share earnings took off 12 points and the multiple took off 12 points (P/E 38.2x to 33.3x).
The share count rose 14%.

Net profit growth-1 ptsNet profit was little changed.

P/E change-12 ptsThe P/E fell from 38.2x to 33.3x, which lowers the price.

Share count change-11 ptsShare count rose 14%, 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.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with PATANJALI FOODS

How rough has the ride been?

Maximum drawdown-51.1%not yet recovered

1-year volatility43.9%annualised

Drawdown from peak

Largest drawdowns

-51.1% (2023-11 peak to 2025-03 low, not yet recovered)

-33.0% (2022-02 peak to 2022-03 low, recovered 2022-04)

-31.2% (2022-11 peak to 2023-03 low, recovered 2023-05)

Is it expensive against its own past and its peers?

33.3xP/E todayWithin its usual range

Against its own history24th percentile

CheapestMedian 41.7xDearest

Usual range 29.1x to 67.4x since 2022-02.

Against Process Industries33.3x vs 18.1x

This company

33.3x

Sector median

18.1x

84% above the Process Industries median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE54th▲ 15 pts vs a year ago
Op. margin24th▼ 8 pts vs a year ago
Revenue growth90th▼ 5 pts vs a year ago
EPS growth88th▲ 48 pts vs a year ago
Debt/equity ↓9thflat vs a year ago
Cash cycle ↓71st▲ 9 pts vs a year ago
P/E ↓24th▲ 9 pts vs a year ago
12M momentum79th▼ 3 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~26%annual earnings growth implied by the price

At a P/E of 48.5x, the price would imply about 26.0%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹292.00
P/E: 33.3x
ROCE: 12.0%
Market Cap: ₹330 cr
Revenue (TTM): ₹558 cr
P/S: 0.6x
P/B: 3.2x
ROE: 9.6%
Operating Margin: 5.6%
Debt / Equity: 1.3x
Promoter Holding: 61.5%
12M Momentum: 19.1%

52-week range

₹204.40₹392.00

47% of the way from its 52-week low to its high

Price risk

1Y volatility

43.9%

Beta vs sector

1-year daily

0.57

Balance sheet & cash

Interest cover

operating profit ÷ interest

1.9x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.74x

Share count, 1Y

unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold

Other income reliance6%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.6%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.74xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.74x (cash from operations ₹33 cr, net profit ₹19 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-2 daysWithin range

Debtor days are below the median of the previous three fiscal years by 2 days (34 vs 36). 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+3 days / 2 yrsWithin range

Days payable changed by +3 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 6.9 pts; FIIs added 5.5 pts.
The number of shareholders fell from 8,659 to 6,362 (-27%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters68.4%61.5%-6.9 pts

FIIs0.0%5.5%+5.5 pts

DIIs1.0%1.4%+0.4 pts

Public and others30.6%31.6%+0.9 pts

Number of shareholders

6,362shareholders-27% since Sep '23

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

+14.7%typical 12-month return vs the marketAbove the base rate

We found 50 past situations where a non-financial company looked like MEGASTAR FOODS 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 −13% to +59% vs the market, against −3% for all non-financial companies in the same months.
The analogs' median sat above that base rate (gap +17.6%, 80% range +8.2% to +25.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 11 beyond the range shown, drawn at the edge

Similar setups' median

+14.7%

All companies' median

−2.9%

Beat the market

68% vs 47%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
KAPSTON Commercial Services	Dec 2024	42x	—	+108%	−17%	+9%
SARVESHWAR Process Industries	Aug 2025	32x	12%	−11%	−34%	−58%
NITINSPIN Process Industries	Mar 2021	19x	6%	+188%	−12%	+127%
HARRMALAYA Process Industries	Mar 2021	28x	13%	+162%	−14%	−23%
BEDMUTHA Non-Energy Minerals	Jul 2022	24x	11%	+69%	−27%	−14%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
RML Producer Manufacturing	Aug 2023	36x	12%	+73%	−12%	+27%
BAHETI Miscellaneous	Mar 2024	38x	15%	+119%	−13%	+190%
HITECH Non-Energy Minerals	Feb 2023	24x	16%	+40%	−21%	+29%

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, ROCE and interest cover. 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 MEGASTAR FOODS 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

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?

30 events since Jun '22

2026
SepInstitutionsFII + DII holding rose 4.1 pts over 2 quarters to 7.0%.
SepValuationP/E fell below the 10th percentile of its own history to date (28.4x).
SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
MarPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
2025
DecResultsYear-on-year EPS growth turned positive.
DecPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
SepPeer rankMoved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).

Show 22 earlier events

2025
JunResultsRevenue (TTM) reached a new high of ₹356 cr.
JunDebtDebt / equity rose above 1.0x (1.42x).
MarPriceFell 51% from the Nov 2023 peak to the Mar 2025 low.
FebDebtDebt / equity halved over 12 months to 0.62x.
2024
DecValuationP/E crossed above the 90th percentile of its own history to date (59.1x).
DecPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
JulValuationP/E crossed above the 90th percentile of its own history to date (48.6x).
JulDebtDebt / equity halved over 12 months to 0.62x.
JunPromoterPromoter holding fell 6.9 pts to 61.5%.
JunResultsYear-on-year EPS growth turned negative.
JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the top quartile).
JunDebtDebt / equity fell below 1.0x (0.62x).
JunSharesShare count is up 10.0% over 12 months.
MarValuationP/E fell below the 10th percentile of its own history to date (26.2x).
2023
JunResultsRevenue (TTM) reached a new high of ₹304 cr.
JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 3rd quartile).
JunDebtDebt / equity rose above 1.0x (1.26x).
MayPriceRegained the 2022-11 peak, 2 months after the low.
MarPriceFell 31% from the Nov 2022 peak to the Mar 2023 low.
2022
SepPriceRegained the 2022-06 peak, 3 months after the low.
JunPriceFell 27% from the Jun 2022 peak to the Jun 2022 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 history58 months · 2022-02 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	33.3x	₹558 cr	9.6%	12.0%	1.3x
2026-10	32.6x	₹558 cr	9.6%	12.0%	1.3x
2026-09	28.4x	₹558 cr	9.6%	12.0%	1.3x
2026-08	37.4x	₹533 cr	9.0%	12.0%	1.3x
2026-07	40.4x	₹533 cr	9.0%	12.0%	1.3x
2026-06	44.4x	₹533 cr	9.0%	12.0%	1.3x
2026-05	38.0x	₹508 cr	9.0%	9.0%	1.4x
2026-04	39.6x	₹508 cr	9.0%	9.0%	1.4x
2026-03	34.4x	₹508 cr	9.0%	9.0%	1.4x
2026-02	44.6x	₹459 cr	6.2%	9.0%	1.4x
2026-01	45.0x	₹459 cr	6.2%	9.0%	1.4x
2025-12	45.2x	₹459 cr	6.2%	9.0%	1.4x
2025-11	57.4x	₹406 cr	5.2%	9.0%	1.4x
2025-10	66.8x	₹406 cr	5.2%	9.0%	1.4x
2025-09	52.1x	₹406 cr	5.2%	9.0%	1.4x
2025-08	70.3x	₹356 cr	3.9%	9.0%	1.4x
2025-07	84.1x	₹356 cr	3.9%	9.0%	1.4x
2025-06	87.1x	₹356 cr	3.9%	9.0%	1.4x
2025-05	91.3x	₹297 cr	3.5%	10.0%	0.6x
2025-04	72.6x	₹297 cr	3.5%	10.0%	0.6x
2025-03	68.8x	₹297 cr	3.5%	10.0%	0.6x
2025-02	54.7x	₹277 cr	4.7%	10.0%	0.6x
2025-01	65.9x	₹277 cr	4.7%	10.0%	0.6x
2024-12	59.1x	₹277 cr	4.7%	10.0%	0.6x
2024-11	48.6x	₹261 cr	5.6%	10.0%	0.6x
2024-10	55.4x	₹261 cr	5.6%	10.0%	0.6x
2024-09	62.3x	₹261 cr	5.6%	10.0%	0.6x
2024-08	47.2x	₹275 cr	6.9%	10.0%	0.6x
2024-07	48.6x	₹275 cr	6.9%	10.0%	0.6x
2024-06	40.7x	₹275 cr	6.9%	10.0%	0.6x
2024-05	24.6x	₹304 cr	21.7%	23.0%	1.3x
2024-04	28.7x	₹304 cr	21.7%	23.0%	1.3x
2024-03	26.2x	₹304 cr	21.7%	23.0%	1.3x
2024-02	33.8x	₹304 cr	21.7%	23.0%	1.3x
2024-01	36.2x	₹304 cr	21.7%	23.0%	1.3x
2023-12	36.3x	₹304 cr	21.7%	23.0%	1.3x
2023-11	38.2x	₹304 cr	21.7%	23.0%	1.3x
2023-10	28.6x	₹304 cr	21.7%	23.0%	1.3x
2023-09	31.1x	₹304 cr	21.7%	23.0%	1.3x
2023-08	30.0x	₹304 cr	21.7%	23.0%	1.3x
2023-07	29.0x	₹304 cr	21.7%	23.0%	1.3x
2023-06	29.2x	₹304 cr	21.7%	23.0%	1.3x
2023-05	54.3x	₹185 cr	13.9%	13.0%	0.9x
2023-04	42.3x	₹185 cr	13.9%	13.0%	0.9x
2023-03	39.4x	₹185 cr	13.9%	13.0%	0.9x
2023-02	43.5x	₹185 cr	13.9%	13.0%	0.9x
2023-01	45.7x	₹185 cr	13.9%	13.0%	0.9x
2022-12	42.1x	₹185 cr	13.9%	13.0%	0.9x
2022-11	44.8x	₹185 cr	13.9%	13.0%	0.9x
2022-10	53.3x	₹185 cr	13.9%	13.0%	0.9x
2022-09	36.3x	₹185 cr	13.9%	13.0%	0.9x
2022-08	34.7x	₹185 cr	13.9%	13.0%	0.9x
2022-07	32.2x	₹185 cr	13.9%	13.0%	0.9x
2022-06	31.9x	₹185 cr	13.9%	13.0%	0.9x
2022-05	44.1x	₹162 cr	14.2%	13.0%	1.7x
2022-04	41.3x	₹162 cr	14.2%	13.0%	1.7x
2022-03	30.7x	₹162 cr	14.2%	13.0%	1.7x
2022-02	34.7x	₹162 cr	14.2%	13.0%	1.7x

Methodology and data notes