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MINDA CORPORATION LTD (MINDACORP)

Producer Manufacturing · Auto Parts: OEM · 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.47 / 100
Profitability 43Growth 64Balance sheet 34
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.60 / 100
Price 55Earnings 63FII/DII 61
Compare withSAMVARDHANA MOTHERSON INTBOSCHCUMMINS INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹704.6 latest close · +0.2% over the last 90 sessions

₹600₹650₹700₹750Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹600₹650₹700₹750Jul 3Sep 4Nov 9

₹704.6 month-end · +21.2% over 12 months

₹500₹600₹700Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹500₹600₹700Nov '25May '26Nov '26

₹704.6 month-end · +92.9% over 3 years

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

₹704.6 month-end · +401.0% since Jan '19

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

52-week range ₹468.50 to ₹769.00 · 1-year volatility 32.1%

Was the rally earned?

+21%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 74 points, but investors now pay less per rupee of profit (P/E 54.2x to 33.6x), which took 53 points back.
  • The share count barely moved.
Net profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74 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 count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +21%+21%Share priceNet profit growth: +74 pts. Points of the price return explained by net profit growing (or shrinking).+74ProfitP/E change: −53 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−53P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +21%+21%Share price
Net profit growth+74 ptsNet profit rose about 96%, which lifts the price.
P/E change-53 ptsThe P/E fell from 54.2x to 33.6x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+93%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 80 points to the rise, while the multiple moved less (P/E 30.7x to 33.6x).
  • The share count barely moved.
Net profit growth: +80 pts. Points of the price return explained by net profit growing (or shrinking).+80 ptsNet profit growthP/E change: +13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+13 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +93%+93%Share priceNet profit growth: +80 pts. Points of the price return explained by net profit growing (or shrinking).+80ProfitP/E change: +13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+13P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +93%+93%Share price
Net profit growth+80 ptsNet profit rose about 76%, which lifts the price.
P/E change+13 ptsThe P/E rose from 30.7x to 33.6x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+331%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 510 points, but investors now pay less per rupee of profit (P/E 73.9x to 33.6x), which took 178 points back.
  • The share count barely moved.
Net profit growth: +509 pts. Points of the price return explained by net profit growing (or shrinking).+509 ptsNet profit growthP/E change: −178 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−178 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +331%+331%Share priceNet profit growth: +509 pts. Points of the price return explained by net profit growing (or shrinking).+509ProfitP/E change: −178 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−178P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +331%+331%Share price
Net profit growth+509 ptsNet profit rose about 846%, which lifts the price.
P/E change-178 ptsThe P/E fell from 73.9x to 33.6x, which lowers the price.
Share count change+1 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 SAMVARDHANA MOTHERSON INT

How rough has the ride been?

Maximum drawdown-65.5%recovered 2021-10
1-year volatility32.1%annualised
Beta vs sector index0.933-year daily, correlation 0.53
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−65.5% 0%−20%−40%−60%2020202220242026−65.5%
Largest drawdowns

-65.5% (2019-01 peak to 2020-04 low, recovered 2021-10)

-38.1% (2022-04 peak to 2022-06 low, recovered 2023-04)

-27.4% (2024-08 peak to 2025-08 low, recovered 2026-06)

Most recent volume spikes

2026-11-03: 8.8x the 50-day median, price +3.9% that day

2026-08-14: 14x the 50-day median, price +1.1% that day

2026-08-13: 8.4x 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?

33.6xP/E todayWithin its usual range
Against its own history45th percentile
CheapestMedian 35.4xDearest

Usual range 13.5x to 62.2x since 2019-01.

Against Producer Manufacturing33.6x vs 29.6x
This company
33.6x
Sector median
29.6x

14% above the Producer Manufacturing median.

7.7x42.6x77.4x112.2xJan '19Aug '20Mar '22Oct '23May '25Nov '267.7x42.6x77.4x112.2xJan '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

  • ROCE41st▲ 4 pts vs a year ago
  • Op. margin45thflat vs a year ago
  • Revenue growth75th▲ 21 pts vs a year ago
  • EPS growth89th▲ 37 pts vs a year ago
  • Debt/equity ↓26th▲ 6 pts vs a year ago
  • Cash cycle ↓88th▲ 3 pts vs a year ago
  • P/E ↓43rd▲ 19 pts vs a year ago
  • 12M momentum74th▼ 9 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?

~29%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 63.8x, a holder earning 12%/yr needs earnings to grow about 28.9%/yr for 10 years, then trade at 15x.

Delivered9.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+19.9 ptsimplied minus delivered
Rank144thmost demanding of 856

Over time

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

-51%-6%38% Jan 2019Nov 2026 -51%-6%38% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x30.5%31.7%32.8%
15x27.7%28.9%30.0%
20x24.2%25.3%26.4%

Drag a slider to test other assumptions

Implied: 28.9%/yr

Looking back

  • Jan 2020Price implied 14%/yr; EPS has since grown 10%/yr (7.0 yrs)
  • Jan 2022Price implied 34%/yr; EPS has since grown 47%/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
₹704.60
P/E
33.6x
ROCE
13.0%
Market Cap
₹16858 cr
Revenue (TTM)
₹6645 cr
P/S
2.5x
P/B
6.4x
ROE
19.0%
Operating Margin
11.0%
Debt / Equity
0.6x
Promoter Holding
64.8%
12M Momentum
21.2%

52-week range

₹468.50₹769.00
79% of the way from its 52-week low to its high

Price risk

1Y volatility
32.1%
Beta vs sector
1-year daily
0.88

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.5x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.79x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance25%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 24.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.79xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.79x (cash from operations ₹1,507 cr, net profit ₹840 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-1 daysWithin range

Debtor days are below the median of the previous three fiscal years by 1 days (59 vs 60). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress10% of fixed assetsWithin range

Capital work-in-progress is 10% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+18 days / 2 yrsWithin range

Days payable changed by +18 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 4.7 pts; FIIs added 3.8 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters64.8%64.8%0.0 pts
FIIs5.5%9.3%+3.8 pts
DIIs13.2%17.9%+4.7 pts
Public and others14.8%6.4%-8.3 pts

Number of shareholders

98,747shareholders+2% since Sep '23
89k93k97k1.0L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 96,387
Dec '23: 98,238
Mar '24: 1.0 lakh
Jun '24: 89,459
Sep '24: 93,906
Dec '24: 96,701
Mar '25: 92,138
Jun '25: 93,526
Sep '25: 96,349
Dec '25: 92,368
Mar '26: 89,480
Jun '26: 98,747
 89k93k97k1.0L Sep '23Sep '24Sep '25Jun '26
Sep '23: 96,387
Dec '23: 98,238
Mar '24: 1.0 lakh
Jun '24: 89,459
Sep '24: 93,906
Dec '24: 96,701
Mar '25: 92,138
Jun '25: 93,526
Sep '25: 96,349
Dec '25: 92,368
Mar '26: 89,480
Jun '26: 98,747

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

−6.4%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like MINDA CORPORATION 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 −24% to +18% vs the market, against −2% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −4.6%, 80% range −9.8% to −2.3%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
WELSPUNLIV · Sep 2021: −56.6% vs market
HUHTAMAKI · Sep 2020: −47.7% vs market
CCL · Jun 2023: −39.3% vs market
SOMANYCERA · Jan 2022: −38.3% vs market
GOKEX · Dec 2024: −37.9% vs market
ASTERDM · Feb 2020: −35.2% vs market
SIS · Jan 2020: −32.3% vs market
DALBHARAT · Jun 2021: −32.2% vs market
NHPC · Mar 2020: −31.8% vs market
BANARISUG · Nov 2022: −29.8% vs market
GODREJAGRO · Mar 2025: −27.1% vs market
GANECOS · Apr 2023: −26.8% vs market
RKFORGE · Jun 2024: −25.8% vs market
KIRLOSENG · Mar 2024: −19.2% vs market
DCMSHRIRAM · Jun 2025: −18.6% vs market
CYIENT · Jun 2023: −16.4% vs market
GODREJIND · Jun 2020: −16.3% vs market
CROMPTON · May 2024: −14.4% vs market
ARTEMISMED · Oct 2024: −13.9% vs market
MEDPLUS · Jun 2025: −10.5% vs market
SANSERA · Mar 2023: −8.3% vs market
HNDFDS · Mar 2025: −7.6% vs market
TORNTPOWER · Feb 2020: −7.4% vs market
BALRAMCHIN · Mar 2025: −6.7% vs market
SUDARSCHEM · Jan 2020: −6.6% vs market
ZYDUSLIFE · Aug 2020: −6.3% vs market
BHARATFORG · Feb 2023: −5.6% vs market
EPL · Jun 2020: −4.8% vs market
ASKAUTOLTD · Dec 2024: −4.7% vs market
NH · Oct 2020: −4.5% vs market
MMFL · Jul 2022: −4.4% vs market
SUPRAJIT · Sep 2025: +3.4% vs market
IPCALAB · Aug 2024: +8.4% vs market
CEATLTD · Mar 2020: +9.2% vs market
JUBLPHARMA · May 2020: +13.4% vs market
UNOMINDA · Jan 2025: +17.9% vs market
ASAHIINDIA · May 2025: +18.0% vs market
GREENLAM · Jul 2022: +18.5% vs market
KNRCON · Mar 2020: +20.8% vs market
BLUESTARCO · Jan 2023: +33.3% vs market
JKCEMENT · Aug 2020: +37.9% vs market
PRICOLLTD · Sep 2025: +39.0% vs market
CRAFTSMAN · Sep 2022: +44.2% vs market
PRESTIGE · Oct 2023: +53.4% vs market
APOLLOHOSP · Jul 2020: +53.8% vs market
SRF · Aug 2020: +57.1% vs market
HSCL · Aug 2023: +58.3% vs market
CENTURYPLY · Jan 2021: +64.0% vs market
FSL · Sep 2020: +64.2% vs market
AARTIDRUGS · Feb 2020: +167.5% vs market
Similar setups −6.4%All companies −1.8%← 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
−6.4%
All companies' median
−1.8%
Beat the market
38% vs 48%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ASTERDM
Health Services		 Feb 2020 25x13% +4%−9% −35%
CCL
Consumer Non-Durables		 Jun 2023 31x16% +73%0% −39%
TORNTPOWER
Utilities		 Feb 2020 16x12% +25%−8% −7%
CRAFTSMAN
Producer Manufacturing		 Sep 2022 36x18% +31%−3% +44%
DALBHARAT
Non-Energy Minerals		 Jun 2021 30x10% +181%0% −32%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JKCEMENT
Non-Energy Minerals		 Aug 2020 23x17% +45%−7% +38%
SIS
Commercial Services		 Jan 2020 33x16% +29%−7% −32%
PRESTIGE
Finance		 Oct 2023 33x10% +73%−2% +53%
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: 12-month momentum, drawdown from 12-month high 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 MINDA CORPORATION 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.

ALEMBIC PHARMACEUTICALS LIMITEAPLLTD
Health Technology
74%similar
ROCEmarket cap
HINDUSTAN FOODSHNDFDS
Consumer Non-Durables
74%similar
ROCEpromoter holding
GRAVITA INDIAGRAVITA
Non-Energy Minerals
70%similar
EPS growthrevenue
LARSEN AND TOUBROLT
Industrial Services
65%similar
P/Erevenue growth
NARAYANA HRUDAYALAYANH
Health Services
63%similar
promoter holdingvolatility
BELRISE INDUSTRIESBELRISE
Producer Manufacturing
71%similar
market cappromoter holding
JBM AUTOJBMA
Producer Manufacturing
64%similar
operating marginrevenue
UNO MindaUNOMINDA
Producer Manufacturing
62%similar
EPS growthoperating margin

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

What changed?

30 events since Jan '23

  1. NovPriceVolume reached 8.8x its 50-day median on 2026-11-03; price +3.9% that day.
  2. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  3. AugPriceVolume reached 14.0x its 50-day median on 2026-08-14; price +1.1% that day.
  4. JunPriceRegained the 2024-08 peak, 10 months after the low.
  5. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  6. MayPriceVolume reached 14.0x its 50-day median on 2026-05-22; price +7.0% that day.
  7. MarPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  8. FebPriceVolume reached 6.7x its 50-day median on 2026-02-05; price +2.3% that day.
Show 22 earlier events
  1. DecPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  2. NovPriceVolume reached 21.0x its 50-day median on 2025-11-07; price +1.0% that day.
  3. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  4. SepPriceVolume reached 109.2x its 50-day median on 2025-09-24; price +8.3% that day.
  5. AugPriceFell 27% from the Aug 2024 peak to the Aug 2025 low.
  6. JunResultsYear-on-year EPS growth turned positive.
  7. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  8. MayPriceVolume reached 14.9x its 50-day median on 2025-05-27; price +5.2% that day.
  9. MarPeer rankMoved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  10. JanPriceVolume reached 18.0x its 50-day median on 2025-01-15; price +4.9% that day.
  11. AugPriceVolume reached 43.6x its 50-day median on 2024-08-23; price +17.3% that day.
  12. JunResultsYear-on-year EPS growth turned negative.
  13. JunInstitutionsFII + DII holding rose 6.9 pts over 2 quarters to 25.7%.
  14. JunPeer rankSlipped to the 3rd quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  15. AprPriceVolume reached 8.1x its 50-day median on 2024-04-26; price -0.2% that day.
  16. NovPriceVolume reached 12.4x its 50-day median on 2023-11-29; price +11.0% that day.
  17. AugPriceVolume reached 7.4x its 50-day median on 2023-08-28; price +4.8% that day.
  18. JunResultsRevenue (TTM) reached a new high of ₹4,300 cr.
  19. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  20. AprPriceRegained the 2022-04 peak, 10 months after the low.
  21. AprPriceVolume reached 6.4x its 50-day median on 2023-04-13; price +4.1% that day.
  22. JanPriceVolume reached 15.2x its 50-day median on 2023-01-17; price +6.5% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1133.6x₹6645 cr19.0%13.0%0.6x
2026-1030.2x₹6645 cr18.9%13.0%0.6x
2026-0933.1x₹6645 cr18.9%13.0%0.6x
2026-0847.3x₹6185 cr13.6%13.0%0.6x
2026-0746.5x₹6185 cr13.6%13.0%0.6x
2026-0646.3x₹6185 cr13.6%13.0%0.6x
2026-0551.9x₹5802 cr13.0%13.0%0.7x
2026-0443.2x₹5802 cr13.0%13.0%0.7x
2026-0342.0x₹5802 cr13.0%13.0%0.7x
2026-0249.8x₹5495 cr12.1%13.0%0.7x
2026-0150.4x₹5495 cr12.1%13.0%0.7x
2025-1251.4x₹5495 cr12.1%13.0%0.7x
2025-1154.2x₹5250 cr11.6%13.0%0.7x
2025-1052.5x₹5250 cr11.6%13.0%0.7x
2025-0953.1x₹5250 cr11.6%13.0%0.7x
2025-0846.7x₹5056 cr11.6%13.0%0.7x
2025-0746.7x₹5056 cr11.6%13.0%0.7x
2025-0648.8x₹5056 cr11.6%13.0%0.7x
2025-0545.6x₹4950 cr13.9%15.0%0.3x
2025-0442.4x₹4950 cr13.9%15.0%0.3x
2025-0347.0x₹4950 cr13.9%15.0%0.3x
2025-0243.8x₹4863 cr13.2%15.0%0.3x
2025-0152.0x₹4863 cr13.2%15.0%0.3x
2024-1244.7x₹4863 cr13.2%15.0%0.3x
2024-1148.1x₹4769 cr12.4%15.0%0.3x
2024-1049.8x₹4769 cr12.4%15.0%0.3x
2024-0958.4x₹4769 cr12.4%15.0%0.3x
2024-0859.7x₹4652 cr11.5%15.0%0.3x
2024-0751.9x₹4652 cr11.5%15.0%0.3x
2024-0650.6x₹4652 cr11.5%15.0%0.3x
2024-0535.7x₹4300 cr17.9%16.0%0.5x
2024-0434.3x₹4300 cr17.9%16.0%0.5x
2024-0335.1x₹4300 cr17.9%16.0%0.5x
2024-0235.4x₹4300 cr17.9%16.0%0.5x
2024-0134.7x₹4300 cr17.9%16.0%0.5x
2023-1232.5x₹4300 cr17.9%16.0%0.5x
2023-1130.7x₹4300 cr17.9%16.0%0.5x
2023-1027.4x₹4300 cr17.9%16.0%0.5x
2023-0928.0x₹4300 cr17.9%16.0%0.5x
2023-0827.5x₹4300 cr17.9%16.0%0.5x
2023-0726.0x₹4300 cr17.9%16.0%0.5x
2023-0623.7x₹4300 cr17.9%16.0%0.5x
2023-0535.4x₹2976 cr14.5%12.0%0.4x
2023-0435.2x₹2976 cr14.5%12.0%0.4x
2023-0326.8x₹2976 cr14.5%12.0%0.4x
2023-0224.0x₹2976 cr14.5%12.0%0.4x
2023-0126.5x₹2976 cr14.5%12.0%0.4x
2022-1225.5x₹2976 cr14.5%12.0%0.4x
2022-1126.2x₹2976 cr14.5%12.0%0.4x
2022-1024.3x₹2976 cr14.5%12.0%0.4x
2022-0925.8x₹2976 cr14.5%12.0%0.4x
2022-0828.1x₹2976 cr14.5%12.0%0.4x
2022-0727.7x₹2976 cr14.5%12.0%0.4x
2022-0625.1x₹2976 cr14.5%12.0%0.4x
2022-0595.0x₹2368 cr4.6%10.0%0.5x
2022-04112.2x₹2368 cr4.6%10.0%0.5x
2022-0393.6x₹2368 cr4.6%10.0%0.5x
2022-0289.5x₹2368 cr4.6%10.0%0.5x
2022-0189.9x₹2368 cr4.6%10.0%0.5x
2021-1276.3x₹2368 cr4.6%10.0%0.5x

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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