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MPHASIS LIMITED (MPHASIS)

Technology Services · Packaged Software · 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.53 / 100
Profitability 65Growth 35Balance sheet 58
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.53 / 100
Price 61Earnings 44

Passes these screensDebt-light & profitable

Compare withONE 97 COMMUNICATIONS PAYTMORACLE FINANCIAL SERVICES SOFTHEXAWARE TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹2,455 latest close · +9.8% over the last 90 sessions

₹2,200₹2,400₹2,600Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹2,200₹2,400₹2,600Jul 3Sep 4Nov 9

₹2,455 month-end · −10.3% over 12 months

₹2,000₹2,250₹2,500₹2,750Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹2,000₹2,250₹2,500₹2,750Nov '25May '26Nov '26

₹2,455 month-end · +11.8% over 3 years

₹2,000₹2,500₹3,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹2,000₹2,500₹3,000Nov '23May '25Nov '26

₹2,455 month-end · +171.3% since Jan '19

₹1,000₹2,000₹3,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹1,000₹2,000₹3,000Jan '19Dec '22Nov '26

52-week range ₹1960.40 to ₹2897.30 · 1-year volatility 30.0%

Was the rally earned?

-10%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 9 points, but investors now pay less per rupee of profit (P/E 29.9x to 24.5x), which took 19 points back.
  • The share count barely moved.
Net profit growth: +9 pts. Points of the price return explained by net profit growing (or shrinking).+9 ptsNet profit growthP/E change: −19 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−19 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: −10%−10%Share priceNet profit growth: +9 pts. Points of the price return explained by net profit growing (or shrinking).+9ProfitP/E change: −19 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−19P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: −10%−10%Share price
Net profit growth+9 ptsNet profit rose about 10%, which lifts the price.
P/E change-19 ptsThe P/E fell from 29.9x to 24.5x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+12%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 15 points, but investors now pay less per rupee of profit (P/E 25.3x to 24.5x), which took 3 points back.
  • The share count barely moved.
Net profit growth: +16 pts. Points of the price return explained by net profit growing (or shrinking).+16 ptsNet profit growthP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3 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: +12%+12%Share priceNet profit growth: +16 pts. Points of the price return explained by net profit growing (or shrinking).+16ProfitP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +12%+12%Share price
Net profit growth+16 ptsNet profit rose about 17%, which lifts the price.
P/E change-3 ptsThe P/E fell from 25.3x to 24.5x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-10%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 41 points, but investors now pay less per rupee of profit (P/E 41.7x to 24.5x), which took 51 points back.
  • The share count rose 2%.
Net profit growth: +43 pts. Points of the price return explained by net profit growing (or shrinking).+43 ptsNet profit growthP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51 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: −9%−9%Share priceNet profit growth: +43 pts. Points of the price return explained by net profit growing (or shrinking).+43ProfitP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −9%−9%Share price
Net profit growth+43 ptsNet profit rose about 57%, which lifts the price.
P/E change-51 ptsThe P/E fell from 41.7x to 24.5x, which lowers the price.
Share count change-2 ptsShare count rose 2%, 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 ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-53.8%not yet recovered
1-year volatility30.0%annualised
Beta vs sector index1.173-year daily, correlation 0.73
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−51.8% 0%−20%−40%2020202220242026−51.8%
Largest drawdowns

-53.8% (2021-10 peak to 2023-03 low, not yet recovered)

-41.3% (2019-02 peak to 2020-03 low, recovered 2020-07)

-15.0% (2019-01 peak to 2019-01 low, recovered 2019-01)

Most recent volume spikes

2026-11-06: 9.1x the 50-day median, price +0.4% 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?

24.5xP/E todayWithin its usual range
Against its own history44th percentile
CheapestMedian 25.2xDearest

Usual range 14.9x to 37.3x since 2019-01.

Against Technology Services24.5x vs 21.1x
This company
24.5x
Sector median
21.1x

16% above the Technology Services median.

7.4x21.3x35.1x49.0xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x21.3x35.1x49.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services 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 Technology Services is valued

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services 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

  • ROCE67thflat vs a year ago
  • Op. margin62nd▼ 4 pts vs a year ago
  • Revenue growth53rd▲ 6 pts vs a year ago
  • EPS growth50thflat vs a year ago
  • Debt/equity ↓31stflat vs a year ago
  • Cash cycle ↓35th▼ 11 pts vs a year ago
  • P/E ↓42nd▼ 6 pts vs a year ago
  • 12M momentum66th▼ 7 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~14%annual earnings growth implied by the priceAbove delivered growth

At P/E of 24.5x, a holder earning 12%/yr needs earnings to grow about 13.8%/yr for 10 years, then trade at 15x.

Delivered10.5%/yrEPS, last 10 fiscal years · fitted trend
Gap+3.2 ptsimplied minus delivered
Rank470thmost demanding of 856

Over time

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

0%12%24% Jan 2019Nov 2026 0%12%24% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x14.8%15.8%16.8%
15x12.7%13.8%14.8%
20x10.1%11.1%12.1%

Drag a slider to test other assumptions

Implied: 13.8%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 8%/yr (7.0 yrs)
  • Jan 2021Price implied 14%/yr; EPS has since grown 8%/yr (6.0 yrs)
  • Jan 2022Price implied 23%/yr; EPS has since grown 8%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹2455.00
P/E
24.5x
ROCE
22.0%
Market Cap
₹46870 cr
Revenue (TTM)
₹16532 cr
P/S
2.8x
P/B
4.4x
ROE
17.8%
Operating Margin
18.0%
Debt / Equity
0.2x
Promoter Holding
30.5%
12M Momentum
-10.3%

52-week range

₹1960.40₹2897.30
53% of the way from its 52-week low to its high

Price risk

1Y volatility
30.0%
Beta vs sector
1-year daily
1.06

Balance sheet & cash

Interest cover
operating profit ÷ interest
13.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.04x
Share count, 1Y
+0.5%

Are profits backed by cash?

5 of 6checks within range1 near a threshold
Other income reliance11%Within range

Other income as a share of pre-tax profit (trailing twelve months): 11.3%. 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 conversion1.04xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.04x (cash from operations ₹5,338 cr, net profit ₹5,120 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+29 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 29 days (96 vs 67). 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—Not enough data

Not enough reported data to compute this.

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 25.0 pts; DIIs added 21.6 pts; FIIs added 3.8 pts.
  • The number of shareholders fell from 1.5 lakh to 1.3 lakh (-11%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters55.5%30.5%-25.0 pts
FIIs15.7%19.5%+3.8 pts
DIIs23.7%45.3%+21.6 pts
Public and others5.1%4.7%-0.4 pts

Number of shareholders

1.3 lakhshareholders-11% since Dec '23
1.3L1.4L1.6L1.7L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 1.5 lakh
Mar '24: 1.5 lakh
Jun '24: 1.7 lakh
Sep '24: 1.5 lakh
Dec '24: 1.4 lakh
Mar '25: 1.4 lakh
Jun '25: 1.5 lakh
Sep '25: 1.5 lakh
Dec '25: 1.4 lakh
Mar '26: 1.3 lakh
Jun '26: 1.3 lakh
 1.3L1.4L1.6L1.7L Dec '23Dec '24Dec '25Jun '26
Dec '23: 1.5 lakh
Mar '24: 1.5 lakh
Jun '24: 1.7 lakh
Sep '24: 1.5 lakh
Dec '24: 1.4 lakh
Mar '25: 1.4 lakh
Jun '25: 1.5 lakh
Sep '25: 1.5 lakh
Dec '25: 1.4 lakh
Mar '26: 1.3 lakh
Jun '26: 1.3 lakh

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−3.6%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 MPHASIS 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 −23% to +28% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+0.4%, 80% range −11.9% to +7.9%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
ZYDUSLIFE · Jun 2021: −44.7% vs market
PETRONET · Jul 2020: −43.8% vs market
SRF · May 2023: −38.9% vs market
MRF · Jan 2021: −36.9% vs market
DEEPAKNTR · Jan 2025: −33.4% vs market
COROMANDEL · Dec 2020: −31.2% vs market
RAMCOCEM · Aug 2021: −30.0% vs market
RATNAMANI · Aug 2024: −29.7% vs market
LTTS · Jun 2025: −28.8% vs market
KAJARIACER · Apr 2023: −25.6% vs market
INDOCO · Dec 2022: −23.5% vs market
GODREJAGRO · Feb 2020: −23.3% vs market
CROMPTON · Jun 2025: −22.8% vs market
EXIDEIND · Mar 2020: −22.4% vs market
CENTURYPLY · Jun 2023: −21.2% vs market
MASTEK · Feb 2024: −20.9% vs market
PRINCEPIPE · Jan 2023: −17.9% vs market
HEIDELBERG · Sep 2020: −15.9% vs market
INDGN · May 2025: −15.0% vs market
FINPIPE · May 2021: −14.5% vs market
BALKRISIND · Jul 2025: −12.3% vs market
BERGEPAINT · Sep 2025: −12.1% vs market
HEROMOTOCO · Feb 2024: −11.1% vs market
GALAXYSURF · Oct 2021: −11.0% vs market
JBCHEPHARM · Jun 2024: −6.4% vs market
GARFIBRES · Sep 2024: −0.9% vs market
ALKEM · Jul 2024: +0.6% vs market
ENDURANCE · Jul 2025: +2.6% vs market
BHARATFORG · Feb 2020: +2.9% vs market
HAL · May 2020: +5.4% vs market
LUPIN · Aug 2025: +7.2% vs market
WIPRO · Mar 2021: +15.7% vs market
KPRMILL · Apr 2024: +15.9% vs market
SUNDRMFAST · Nov 2022: +18.2% vs market
RADICO · Sep 2021: +18.2% vs market
BAJAJ-AUTO · Oct 2025: +23.0% vs market
TECHM · Aug 2020: +25.0% vs market
POLYCAB · Mar 2022: +28.3% vs market
LAURUSLABS · Apr 2024: +32.0% vs market
NH · Oct 2024: +34.6% vs market
USHAMART · Jun 2025: +35.3% vs market
KNRCON · Dec 2020: +36.9% vs market
IPCALAB · Sep 2025: +43.1% vs market
ECLERX · Jan 2025: +43.4% vs market
COFORGE · Jul 2024: +47.2% vs market
EMCURE · Oct 2025: +50.0% vs market
BLUESTARCO · Oct 2023: +51.8% vs market
CYIENT · Jan 2023: +61.3% vs market
ERIS · Mar 2024: +62.2% vs market
KEI · Dec 2022: +74.7% vs market
Similar setups −3.6%All companies −4.0%← 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

Similar setups' median
−3.6%
All companies' median
−4.0%
Beat the market
48% vs 46%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ALKEM
Health Technology		 Jul 2024 35x20% +33%−3% +1%
LUPIN
Health Technology		 Aug 2025 26x21% −15%−21% +7%
KPRMILL
Consumer Non-Durables		 Apr 2024 36x24% +41%−5% +16%
TECHM
Technology Services		 Aug 2020 16x22% +7%−12% +25%
BALKRISIND
Consumer Durables		 Jul 2025 31x17% −20%−20% −12%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
COROMANDEL
Process Industries		 Dec 2020 22x26% +53%−4% −31%
LAURUSLABS
Health Technology		 Apr 2024 31x23% +46%−3% +32%
CENTURYPLY
Producer Manufacturing		 Jun 2023 38x27% +26%−5% −21%
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, P/S 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 MPHASIS 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 else looks like this?

Companies with the most similar financial profile today, regardless of industry.

GRANULES INDIAGRANULES
Health Technology
74%similar
volatilityrevenue growth
SUNDRAM FASTENERSSUNDRMFAST
Producer Manufacturing
72%similar
revenue growthEPS growth
ELGI EQUIPMENTSELGIEQUIP
Producer Manufacturing
69%similar
ROCEpromoter holding
SRFSRF
Process Industries
66%similar
revenuevolatility
USHA MARTINUSHAMART
Producer Manufacturing
66%similar
revenue growthoperating margin
TECH MAHINDRATECHM
Technology Services
75%similar
volatilityROCE
INFOSYSINFY
Technology Services
69%similar
promoter holdingrevenue growth
TATA TECHNOLOGIESTATATECH
Technology Services
58%similar
debt/equityROCE

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

What changed?

30 events since Jan '21

  1. NovPriceVolume reached 9.1x its 50-day median on 2026-11-06; price +0.4% that day.
  2. MarPromoterPromoter holding fell 9.5 pts to 30.6% (largest drop since 2024-09).
  3. MarInstitutionsFII + DII holding rose 9.5 pts over 2 quarters to 65.0%.
  4. NovPriceVolume reached 12.9x its 50-day median on 2025-11-18; price -1.1% that day.
  5. AugPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  6. AprPriceVolume reached 6.3x its 50-day median on 2025-04-25; price +2.9% that day.
  7. MarResultsYear-on-year EPS growth turned positive.
  8. JanPriceVolume reached 10.3x its 50-day median on 2025-01-24; price +3.1% that day.
Show 22 earlier events
  1. OctPriceVolume reached 9.3x its 50-day median on 2024-10-17; price +5.8% that day.
  2. SepPromoterPromoter holding fell 15.1 pts to 40.4%.
  3. SepInstitutionsFII + DII holding rose 14.7 pts over 2 quarters to 54.2%.
  4. JulPeer rankSlipped to the 3rd quartile of Technology Services on EPS growth (from the 2nd quartile).
  5. JulPriceVolume reached 7.2x its 50-day median on 2024-07-19; price +1.4% that day.
  6. JunResultsYear-on-year EPS growth turned negative.
  7. JunPriceVolume reached 78.1x its 50-day median on 2024-06-10; price -3.2% that day.
  8. FebPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  9. FebPriceVolume reached 5.0x its 50-day median on 2024-02-02; price -1.6% that day.
  10. JulPriceVolume reached 7.5x its 50-day median on 2023-07-21; price +5.4% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹13,798 cr.
  12. JunPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  13. MarPriceFell 54% from the Oct 2021 peak to the Mar 2023 low.
  14. MarPriceVolume reached 7.4x its 50-day median on 2023-03-29; price +3.0% that day.
  15. DecPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  16. JunResultsRevenue (TTM) reached a new high of ₹11,961 cr.
  17. NovPriceVolume reached 14.6x its 50-day median on 2021-11-30; price -3.2% that day.
  18. OctPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  19. JulPriceVolume reached 11.9x its 50-day median on 2021-07-23; price +5.7% that day.
  20. JunResultsRevenue (TTM) reached a new high of ₹9,722 cr.
  21. JunPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  22. JanValuationP/E crossed above the 90th percentile of its own history to date (22.2x).

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
2026-1124.5x₹16532 cr17.8%22.0%0.2x
2026-1025.2x₹16532 cr17.8%22.0%0.2x
2026-0921.5x₹16532 cr17.8%22.0%0.2x
2026-0824.8x₹15880 cr17.3%22.0%0.2x
2026-0724.0x₹15880 cr17.3%22.0%0.2x
2026-0621.5x₹15880 cr17.3%22.0%0.2x
2026-0523.4x₹15347 cr18.7%22.0%0.2x
2026-0423.4x₹15347 cr18.7%22.0%0.2x
2026-0321.1x₹15347 cr18.7%22.0%0.2x
2026-0223.8x₹14905 cr18.5%22.0%0.2x
2026-0128.6x₹14905 cr18.5%22.0%0.2x
2025-1228.9x₹14905 cr18.5%22.0%0.2x
2025-1129.9x₹14539 cr18.1%22.0%0.2x
2025-1029.4x₹14539 cr18.1%22.0%0.2x
2025-0928.2x₹14539 cr18.1%22.0%0.2x
2025-0830.2x₹14229 cr17.7%22.0%0.2x
2025-0730.3x₹14229 cr17.7%22.0%0.2x
2025-0630.3x₹14229 cr17.7%22.0%0.2x
2025-0528.0x₹13931 cr18.7%24.0%0.2x
2025-0427.1x₹13931 cr18.7%24.0%0.2x
2025-0327.4x₹13931 cr18.7%24.0%0.2x
2025-0225.4x₹13708 cr18.1%24.0%0.2x
2025-0132.5x₹13708 cr18.1%24.0%0.2x
2024-1232.2x₹13708 cr18.1%24.0%0.2x
2024-1134.3x₹13448 cr17.8%24.0%0.2x
2024-1033.2x₹13448 cr17.8%24.0%0.2x
2024-0934.7x₹13448 cr17.8%24.0%0.2x
2024-0836.0x₹13278 cr17.7%24.0%0.2x
2024-0733.5x₹13278 cr17.7%24.0%0.2x
2024-0627.8x₹13278 cr17.7%24.0%0.2x
2024-0524.5x₹13798 cr20.6%29.0%0.0x
2024-0424.8x₹13798 cr20.6%29.0%0.0x
2024-0325.6x₹13798 cr20.6%29.0%0.0x
2024-0228.1x₹13798 cr20.6%29.0%0.0x
2024-0127.9x₹13798 cr20.6%29.0%0.0x
2023-1229.5x₹13798 cr20.6%29.0%0.0x
2023-1125.3x₹13798 cr20.6%29.0%0.0x
2023-1022.7x₹13798 cr20.6%29.0%0.0x
2023-0925.5x₹13798 cr20.6%29.0%0.0x
2023-0826.1x₹13798 cr20.6%29.0%0.0x
2023-0724.6x₹13798 cr20.6%29.0%0.0x
2023-0620.2x₹13798 cr20.6%29.0%0.0x
2023-0523.7x₹11961 cr20.6%27.0%0.1x
2023-0422.1x₹11961 cr20.6%27.0%0.1x
2023-0321.8x₹11961 cr20.6%27.0%0.1x
2023-0224.8x₹11961 cr20.6%27.0%0.1x
2023-0125.3x₹11961 cr20.6%27.0%0.1x
2022-1224.0x₹11961 cr20.6%27.0%0.1x
2022-1124.6x₹11961 cr20.6%27.0%0.1x
2022-1024.1x₹11961 cr20.6%27.0%0.1x
2022-0925.5x₹11961 cr20.6%27.0%0.1x
2022-0826.0x₹11961 cr20.6%27.0%0.1x
2022-0728.1x₹11961 cr20.6%27.0%0.1x
2022-0628.1x₹11961 cr20.6%27.0%0.1x
2022-0537.3x₹9722 cr18.6%25.0%0.1x
2022-0440.9x₹9722 cr18.6%25.0%0.1x
2022-0348.8x₹9722 cr18.6%25.0%0.1x
2022-0244.8x₹9722 cr18.6%25.0%0.1x
2022-0144.8x₹9722 cr18.6%25.0%0.1x
2021-1249.0x₹9722 cr18.6%25.0%0.1x

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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