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MENON BEARINGS LTD (MENONBE)

Producer Manufacturing · Metal Fabrication · 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.68 / 100
Profitability 88Growth 52Balance sheet 65
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.80 / 100
Price 97Earnings 83FII/DII 58

Passes these screensQuality CompounderHigh MomentumDebt-light & profitableConsistent compoundersNear 52-week high

Compare withBHARAT FORGESCHAEFFLER INDIAPTC INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹342.95 latest close · +116.0% over the last 90 sessions

₹200₹300Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹300Jul 3Sep 4Nov 9

₹342.95 month-end · +215.3% over 12 months

₹100₹200₹300Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹100₹200₹300Nov '25May '26Nov '26

₹342.95 month-end · +151.1% over 3 years

₹100₹200₹300Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹200₹300Nov '23May '25Nov '26

₹342.95 month-end · +338.3% since Jan '19

₹0₹100₹200₹300Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹100₹200₹300Jan '19Dec '22Nov '26

52-week range ₹101.50 to ₹375.85 · 1-year volatility 50.2%

Was the rally earned?

+215%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings added 90 points and the multiple added 126 points (P/E 22.4x to 43.7x).
  • The share count barely moved.
Net profit growth: +91 pts. Points of the price return explained by net profit growing (or shrinking).+91 ptsNet profit growthP/E change: +126 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+126 ptsP/E changeShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2 ptsShare count changeShare price: +215%+215%Share priceNet profit growth: +91 pts. Points of the price return explained by net profit growing (or shrinking).+91ProfitP/E change: +126 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+126P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +215%+215%Share price
Net profit growth+91 ptsNet profit rose about 63%, which lifts the price.
P/E change+126 ptsThe P/E rose from 22.4x to 43.7x, which lifts the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+151%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 23.5x to 43.7x); per-share earnings added 49 points.
  • The share count barely moved.
Net profit growth: +47 pts. Points of the price return explained by net profit growing (or shrinking).+47 ptsNet profit growthP/E change: +102 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+102 ptsP/E changeShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2 ptsShare count changeShare price: +151%+151%Share priceNet profit growth: +47 pts. Points of the price return explained by net profit growing (or shrinking).+47ProfitP/E change: +102 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+102P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +151%+151%Share price
Net profit growth+47 ptsNet profit rose about 33%, which lifts the price.
P/E change+102 ptsThe P/E rose from 23.5x to 43.7x, which lifts the price.
Share count change+2 ptsShare count was little changed. More shares would count against the price.
+335%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 708 points, but investors now pay less per rupee of profit (P/E 225.4x to 43.7x), which took 373 points back.
  • The share count rose 20%.
Net profit growth: +750 pts. Points of the price return explained by net profit growing (or shrinking).+750 ptsNet profit growthP/E change: −373 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−373 ptsP/E changeShare count change: −41 pts. Points of the price return explained by the share count changing. More shares count against the price.−41 ptsShare count changeShare price: +335%+335%Share priceNet profit growth: +750 pts. Points of the price return explained by net profit growing (or shrinking).+750ProfitP/E change: −373 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−373P/EShare count change: −41 pts. Points of the price return explained by the share count changing. More shares count against the price.−41SharesShare price: +335%+335%Share price
Net profit growth+750 ptsNet profit rose about 2587%, which lifts the price.
P/E change-373 ptsThe P/E fell from 225.4x to 43.7x, which lowers the price.
Share count change-41 ptsShare count rose 20%, 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 BHARAT FORGE

How rough has the ride been?

Maximum drawdown-67.1%recovered 2022-01
1-year volatility50.2%annualised
Beta vs sector index0.783-year daily, correlation 0.37
Volume spikes7last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−66.8% 0%−20%−40%−60%2020202220242026−66.8%
Largest drawdowns

-67.1% (2019-01 peak to 2020-03 low, recovered 2022-01)

-43.2% (2023-08 peak to 2025-04 low, recovered 2026-06)

-38.7% (2022-01 peak to 2022-06 low, recovered 2022-09)

Most recent volume spikes

2026-11-05: 9.9x the 50-day median, price +9.1% that day

2026-11-04: 5.6x the 50-day median, price -0.5% that day

2026-11-03: 7.3x the 50-day median, price +3.3% 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?

43.7xP/E todayWithin its usual range
Against its own history44th percentile
CheapestMedian 112.4xDearest

Usual range 22.9x to 269.9x since 2019-01.

Against Producer Manufacturing43.7x vs 29.6x
This company
43.7x
Sector median
29.6x

48% above the Producer Manufacturing median.

10.6x141.1x271.6x402.1xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.6x141.1x271.6x402.1xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

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

  • ROCE85th▲ 21 pts vs a year ago
  • Op. margin91st▲ 6 pts vs a year ago
  • Revenue growth78th▲ 12 pts vs a year ago
  • EPS growth82nd▲ 14 pts vs a year ago
  • Debt/equity ↓50thflat vs a year ago
  • Cash cycle ↓38th▼ 3 pts vs a year ago
  • P/E ↓29th▼ 42 pts vs a year ago
  • 12M momentum100th▲ 45 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?

~30%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 78.9x, a holder earning 12%/yr needs earnings to grow about 30.2%/yr for 10 years, then trade at 15x.

Delivered17.5%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap+12.7 ptsimplied minus delivered
Rank263rdmost demanding of 856

Over time

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

0%30%60% Jan 2019Nov 2026 0%30%60% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x31.6%32.8%34.0%
15x29.0%30.2%31.4%
20x25.7%26.8%28.0%

Drag a slider to test other assumptions

Implied: 30.2%/yr

Looking back

  • Jan 2020Price implied 46%/yr; EPS has since grown 17%/yr (18.0 yrs)
  • Jan 2021Price implied 45%/yr; EPS has since grown 17%/yr (18.0 yrs)
  • Jan 2022Price implied 53%/yr; EPS has since grown 17%/yr (18.0 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
₹342.95
P/E
43.7x
ROCE
26.0%
Market Cap
₹1924 cr
Revenue (TTM)
₹319 cr
P/S
6.0x
P/B
10.3x
ROE
23.6%
Operating Margin
22.0%
Debt / Equity
0.3x
Promoter Holding
68.4%
12M Momentum
215.3%

52-week range

₹101.50₹375.85
88% of the way from its 52-week low to its high

Price risk

1Y volatility
50.2%
Beta vs sector
1-year daily
0.80

Balance sheet & cash

Interest cover
operating profit ÷ interest
16.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.90x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance14%Within range

Other income as a share of pre-tax profit (trailing twelve months): 13.8%. 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 conversion0.90xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.90x (cash from operations ₹78 cr, net profit ₹87 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+20 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 20 days (111 vs 91). 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 2 years, promoters trimmed 1.7 pts.
  • The number of shareholders fell from 27,188 to 24,403 (-10%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters70.2%68.4%-1.7 pts
FIIs0.5%0.1%-0.4 pts
DIIs0.0%0.4%+0.4 pts
Public and others29.3%31.0%+1.8 pts

Number of shareholders

24,403shareholders-10% since Dec '23
24k26k27k28k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 27,188
Mar '24: 28,340
Jun '24: 26,795
Sep '24: 28,280
Dec '24: 28,030
Mar '25: 27,552
Jun '25: 26,860
Sep '25: 26,823
Dec '25: 26,267
Mar '26: 25,436
Jun '26: 24,403
 24k26k27k28k Dec '23Dec '24Dec '25Jun '26
Dec '23: 27,188
Mar '24: 28,340
Jun '24: 26,795
Sep '24: 28,280
Dec '24: 28,030
Mar '25: 27,552
Jun '25: 26,860
Sep '25: 26,823
Dec '25: 26,267
Mar '26: 25,436
Jun '26: 24,403

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

+4.9%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 MENON BEARINGS 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 −21% to +46% vs the market, against +1% for all non-financial companies in the same months.
  • The gap against the base rate (+4.2%, 80% range −9.5% to +17.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ARIHANTCAP · Jun 2022: −59.6% vs market
FOCUS · Sep 2023: −49.3% vs market
GLOBUSSPR · Mar 2022: −46.6% vs market
SAKSOFT · Oct 2023: −45.4% vs market
SOUTHWEST · Apr 2022: −43.1% vs market
JASH · Feb 2025: −37.0% vs market
IRIS · Dec 2024: −36.4% vs market
INFOBEAN · Mar 2022: −34.8% vs market
GRANULES · Aug 2020: −33.7% vs market
ESCORTS · May 2020: −25.5% vs market
RSYSTEMS · Mar 2020: −24.2% vs market
VADILALIND · Jan 2023: −22.8% vs market
HINDWAREAP · Oct 2021: −21.6% vs market
MARKSANS · Oct 2020: −18.7% vs market
VAIBHAVGBL · Nov 2020: −18.4% vs market
ASTEC · Dec 2020: −17.8% vs market
TIRUPATIFL · Oct 2024: −16.7% vs market
THEJO · Jun 2021: −12.1% vs market
BHARATRAS · Jul 2020: −9.4% vs market
SHRIPISTON · Mar 2024: −7.0% vs market
SAFARI · Jun 2023: −6.3% vs market
AARTIDRUGS · Jul 2020: −2.1% vs market
BALAMINES · Apr 2021: +0.9% vs market
PRINCEPIPE · Apr 2021: +1.6% vs market
OAL · Nov 2020: +2.8% vs market
BETA · Dec 2021: +7.0% vs market
VIDHIING · Jul 2021: +7.8% vs market
AVTNPL · Jun 2020: +9.2% vs market
AGIIL · Aug 2025: +16.4% vs market
GARFIBRES · Feb 2020: +20.7% vs market
BECTORFOOD · Oct 2023: +21.1% vs market
VENUSPIPES · Jun 2023: +22.1% vs market
TDPOWERSYS · Apr 2023: +30.1% vs market
KRISHANA · May 2022: +33.1% vs market
SBCL · Aug 2022: +34.5% vs market
MASTEK · Apr 2021: +38.0% vs market
SHAILY · Sep 2025: +39.9% vs market
AURIONPRO · Oct 2023: +48.2% vs market
SHAKTIPUMP · Jun 2024: +51.5% vs market
POLYMED · Jul 2020: +60.6% vs market
SANGHVIMOV · May 2023: +72.0% vs market
MBAPL · May 2022: +75.9% vs market
BLS · Jun 2022: +79.7% vs market
RAJRATAN · Jul 2021: +79.9% vs market
NEWGEN · Dec 2023: +85.3% vs market
ANUP · Oct 2023: +103.0% vs market
NEULANDLAB · Nov 2023: +136.4% vs market
JWL · Jun 2023: +170.7% vs market
OBSCP · Oct 2025: +177.3% vs market
ALKYLAMINE · Apr 2020: +196.3% vs market
Similar setups +4.9%All companies +0.7%← 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
+4.9%
All companies' median
+0.7%
Beat the market
56% vs 51%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AURIONPRO
Technology Services		 Oct 2023 38x25% +319%0% +48%
RAJRATAN
Producer Manufacturing		 Jul 2021 46x23% +858%0% +80%
AGIIL
Finance		 Aug 2025 42x22% +133%−4% +16%
PRINCEPIPE
Producer Manufacturing		 Apr 2021 52x21% +464%0% +2%
IRIS
Technology Services		 Dec 2024 68x27% +250%−5% −36%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INFOBEAN
Technology Services		 Mar 2022 47x19% +402%−6% −35%
SHAKTIPUMP
Producer Manufacturing		 Jun 2024 52x31% +516%0% +52%
MASTEK
Technology Services		 Apr 2021 37x16% +569%0% +38%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: P/E, P/S and drawdown from 12-month high. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to MENON BEARINGS 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.

ANONDITA MEDICAREANONDITA
Health Technology
72%similar
market capdebt/equity
AGI INFRAAGIIL
Finance
65%similar
volatilityrevenue
BETA DRUGSBETA
Health Technology
65%similar
operating marginP/E
AIMTRON ELECTRONICSAIMTRON
Electronic Technology
64%similar
revenuedebt/equity
TINNA RUBBER AND INFRATINNARUBR
Process Industries
64%similar
operating marginvolatility
OBSC PERFECTIONOBSCP
Producer Manufacturing
71%similar
revenuemarket cap
PARTH ELECTRICALS AND ENGPARTH
Producer Manufacturing
61%similar
revenuevolatility
RISHABH INSTRUMENTSRISHABH
Producer Manufacturing
61%similar
volatilityEPS growth

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

What changed?

30 events since Jun '23

  1. NovPriceVolume reached 44.9x its 50-day median on 2026-11-02; price +12.6% that day.
  2. JunPriceRegained the 2023-08 peak, 14 months after the low.
  3. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  4. JunPriceVolume reached 41.1x its 50-day median on 2026-06-10; price -3.9% that day.
  5. MarValuationP/E fell below the 10th percentile of its own history to date (18.5x).
  6. MarPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  7. JanPriceVolume reached 28.7x its 50-day median on 2026-01-16; price +3.2% that day.
  8. DecPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
Show 22 earlier events
  1. NovValuationP/E fell below the 10th percentile of its own history to date (22.4x).
  2. SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  3. JulPriceVolume reached 32.3x its 50-day median on 2025-07-29; price +3.8% 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. MayPriceVolume reached 12.6x its 50-day median on 2025-05-15; price +9.2% that day.
  7. AprPriceFell 43% from the Aug 2023 peak to the Apr 2025 low.
  8. MarPriceVolume reached 8.3x its 50-day median on 2025-03-21; price +10.4% that day.
  9. FebValuationP/E fell below the 10th percentile of its own history to date (22.4x).
  10. DecResultsRevenue (TTM) reached a new high of ₹222 cr.
  11. DecPriceVolume reached 5.1x its 50-day median on 2024-12-17; price +1.7% that day.
  12. SepPriceVolume reached 40.5x its 50-day median on 2024-09-18; price +12.7% that day.
  13. JunResultsYear-on-year EPS growth turned negative.
  14. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the top quartile).
  15. JunPriceVolume reached 29.1x its 50-day median on 2024-06-25; price +4.3% that day.
  16. FebDebtDebt / equity halved over 12 months to 0.11x.
  17. DecPriceVolume reached 6.1x its 50-day median on 2023-12-29; price +2.5% that day.
  18. AugPriceVolume reached 16.5x its 50-day median on 2023-08-30; price +5.5% that day.
  19. JulDebtDebt / equity halved over 12 months to 0.11x.
  20. JunResultsRevenue (TTM) reached a new high of ₹219 cr.
  21. JunValuationP/E fell below the 10th percentile of its own history to date (23.4x).
  22. JunPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the bottom quartile).

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
2026-1143.7x₹319 cr23.6%26.0%0.3x
2026-1035.2x₹319 cr23.7%26.0%0.3x
2026-0937.8x₹319 cr23.7%26.0%0.3x
2026-0842.1x₹294 cr20.4%26.0%0.3x
2026-0730.9x₹294 cr20.4%26.0%0.3x
2026-0624.3x₹294 cr20.4%26.0%0.3x
2026-0526.2x₹271 cr19.5%20.0%0.3x
2026-0422.7x₹271 cr19.5%20.0%0.3x
2026-0318.5x₹271 cr19.5%20.0%0.3x
2026-0223.8x₹252 cr17.0%20.0%0.3x
2026-0123.2x₹252 cr17.0%20.0%0.3x
2025-1222.0x₹252 cr17.0%20.0%0.3x
2025-1122.4x₹248 cr17.0%20.0%0.3x
2025-1024.0x₹248 cr17.0%20.0%0.3x
2025-0926.4x₹248 cr17.0%20.0%0.3x
2025-0828.3x₹239 cr15.7%20.0%0.3x
2025-0731.0x₹239 cr15.7%20.0%0.3x
2025-0627.8x₹239 cr15.7%20.0%0.3x
2025-0528.5x₹229 cr16.6%22.0%0.2x
2025-0423.8x₹229 cr16.6%22.0%0.2x
2025-0321.0x₹229 cr16.6%22.0%0.2x
2025-0222.4x₹222 cr16.6%22.0%0.2x
2025-0126.3x₹222 cr16.6%22.0%0.2x
2024-1227.7x₹222 cr16.6%22.0%0.2x
2024-1129.9x₹214 cr15.9%22.0%0.2x
2024-1028.8x₹214 cr15.9%22.0%0.2x
2024-0931.4x₹214 cr15.9%22.0%0.2x
2024-0829.5x₹213 cr16.6%22.0%0.2x
2024-0731.5x₹213 cr16.6%22.0%0.2x
2024-0632.2x₹213 cr16.6%22.0%0.2x
2024-0520.4x₹219 cr24.6%—0.1x
2024-0422.3x₹219 cr24.6%—0.1x
2024-0319.3x₹219 cr24.6%—0.1x
2024-0222.5x₹219 cr24.6%—0.1x
2024-0124.7x₹219 cr24.6%—0.1x
2023-1223.6x₹219 cr24.6%—0.1x
2023-1123.5x₹219 cr24.6%—0.1x
2023-1025.1x₹219 cr24.6%—0.1x
2023-0924.5x₹219 cr24.6%—0.1x
2023-0827.0x₹219 cr24.6%—0.1x
2023-0723.2x₹219 cr24.6%—0.1x
2023-0623.4x₹219 cr24.6%—0.1x
2023-05402.1x₹39 cr10.9%15.0%1.8x
2023-04298.7x₹39 cr10.9%15.0%1.8x
2023-03275.6x₹39 cr10.9%15.0%1.8x
2023-02285.1x₹39 cr10.9%15.0%1.8x
2023-01286.3x₹39 cr10.9%15.0%1.8x
2022-12276.0x₹39 cr10.9%15.0%1.8x
2022-11272.1x₹39 cr10.9%15.0%1.8x
2022-10290.3x₹39 cr10.9%15.0%1.8x
2022-09285.7x₹39 cr10.9%15.0%1.8x
2022-08269.4x₹39 cr10.9%15.0%1.8x
2022-07254.9x₹39 cr10.9%15.0%1.8x
2022-06214.3x₹39 cr10.9%15.0%1.8x
2022-05228.6x₹39 cr10.9%15.0%1.8x
2022-04241.7x₹39 cr10.9%15.0%1.8x
2022-03253.9x₹39 cr10.9%15.0%1.8x
2022-02226.1x₹39 cr10.9%15.0%1.8x
2022-01270.1x₹39 cr10.9%15.0%1.8x
2021-12230.6x₹39 cr10.9%15.0%1.8x

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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