MSP STEEL & POWER LIMITED (MSPL): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹31.19 latest close · −27.1% over the last 90 sessions

₹31.19 month-end · −15.2% over 12 months

₹31.19 month-end · +41.1% over 3 years

₹31.19 month-end · +170.0% since Jan '19

52-week range ₹26.25 to ₹46.12 · 1-year volatility 40.5%

Was the rally earned?

+249%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 326 points, but investors now pay less per rupee of profit (P/E 68.8x to 46.6x), which took 78 points back.
The share count rose 48%.

Net profit growth+404 ptsNet profit rose about 660%, which lifts the price.

P/E change-78 ptsThe P/E fell from 68.8x to 46.6x, which lowers the price.

Share count change-77 ptsShare count rose 48%, 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 1 year and 3 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 JSW STEEL

How rough has the ride been?

Maximum drawdown-77.3%recovered 2021-12

1-year volatility40.5%annualised

Beta vs sector index0.873-year daily, correlation 0.39

Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-77.3% (2019-03 peak to 2020-05 low, recovered 2021-12)

-64.4% (2024-09 peak to 2025-03 low, not yet recovered)

-57.2% (2022-01 peak to 2023-03 low, recovered 2023-10)

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?

46.5xP/E todayWithin its usual range

Against its own history33rd percentile

CheapestMedian 64.5xDearest

Usual range 13.7x to 99.1x since 2019-01.

Against Non-Energy Minerals46.5x vs 21.8x

This company

46.5x

Sector median

21.8x

114% above the Non-Energy Minerals median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

ROCE47th▲ 24 pts vs a year ago
Op. margin29th▲ 8 pts vs a year ago
Revenue growth33rd▲ 6 pts vs a year ago
EPS growth2nd
Debt/equity ↓50th▼ 3 pts vs a year ago
Cash cycle ↓67th▼ 6 pts vs a year ago
P/E ↓19th
12M momentum47th▲ 12 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~25%annual earnings growth implied by the price

At a P/E of 46.6x, the price would imply about 25.4%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

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

What prices imply across Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹31.19
P/E: 46.6x
ROCE: 10.0%
Market Cap: ₹1770 cr
Revenue (TTM): ₹2959 cr
P/S: 0.6x
P/B: 1.8x
ROE: 3.8%
Operating Margin: 6.0%
Debt / Equity: 0.4x
Promoter Holding: 45.1%
12M Momentum: -15.2%

52-week range

₹26.25₹46.12

25% of the way from its 52-week low to its high

Price risk

1Y volatility

40.5%

Beta vs sector

1-year daily

0.86

Balance sheet & cash

Interest cover

operating profit ÷ interest

0.7x

Cash from profit, 3Y

operating cash flow ÷ net profit

5.00x

Share count, 1Y

unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear

Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate15%Within range

Median quarterly effective tax rate over about 2.5 years: 15.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion25.35xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 25.35x (cash from operations ₹507 cr, net profit ₹20 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+2 daysWithin range

Debtor days are above the median of the previous three fiscal years by 2 days (11 vs 9). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2% of fixed assetsWithin range

Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+19 days / 2 yrsWithin range

Days payable changed by +19 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 6.8 pts; promoters added 3.5 pts; FIIs added 1.2 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters41.6%45.1%+3.5 pts

FIIs0.0%1.2%+1.2 pts

DIIs9.0%15.8%+6.8 pts

Public and others49.4%37.9%-11.5 pts

Number of shareholders

55,388shareholders+1% 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

+15.3%typical 12-month return vs the marketAbove the base rate

We found 50 past situations where a non-financial company looked like MSP STEEL & POWER 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 −17% to +53% vs the market, against −4% for all non-financial companies in the same months.
The analogs' median sat above that base rate (gap +19.1%, 80% range +7.0% to +35.4%), 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median

+15.3%

All companies' median

−3.8%

Beat the market

62% vs 46%

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

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
CEMPRO Industrial Services	Nov 2021	80x	10%	+31%	−22%	+49%
SHANKARA Retail Trade	Apr 2023	42x	10%	−16%	−20%	−27%
TEXRAIL Producer Manufacturing	Feb 2022	78x	6%	+27%	−29%	+29%
PARAGMILK Consumer Non-Durables	Jul 2021	56x	7%	+64%	−7%	−39%
MANGLMCEM Non-Energy Minerals	Jun 2023	50x	8%	+16%	−18%	+90%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
UFO Consumer Services	Sep 2024	54x	10%	+23%	−17%	−43%
ISGEC Industrial Services	Nov 2022	35x	8%	−6%	−25%	+56%
ACLGATI Transportation	May 2020	22x	7%	−52%	−56%	+89%

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: ROCE, drawdown from 12-month high and 12-month momentum. 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 MSP STEEL & POWER 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

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 else looks like this?

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

TVS SRICHAKRATVSSRICHAK

Consumer Durables

72%similar

promoter holdingvolatility

ALICON CASTALLOYALICON

Producer Manufacturing

68%similar

ROCEvolatility

GREAVES COTTONGREAVESCOT

Producer Manufacturing

64%similar

operating marginROCE

SALASAR TECHNO ENGINEERINGSALASAR

Producer Manufacturing

61%similar

promoter holdingoperating margin

ION EXCHANGE (INDIA)IONEXCHANG

Producer Manufacturing

59%similar

revenuedebt/equity

ELECTROSTEEL CASTINGSELECTCAST

Non-Energy Minerals

54%similar

operating marginpromoter holding

GREENLAM INDUSTRIESGREENLAM

Non-Energy Minerals

51%similar

revenueROCE

SAGAR CEMENTSSAGCEM

Non-Energy Minerals

50%similar

market caprevenue

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

What changed?

30 events since Oct '23

2026
SepPromoterPromoter holding rose 4.9 pts to 45.1% (largest rise in the history since 2019-01).
JunPromoterPromoter holding rose 2.5 pts to 40.2% (largest rise since 2026-03).
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the 3rd quartile of Non-Energy Minerals on ROCE (from the bottom quartile).
JunPriceVolume reached 7.7x its 50-day median on 2026-06-02; price +0.8% that day.
MarPromoterPromoter holding rose 2.5 pts to 37.7%.
MarPeer rankMoved into the 3rd quartile of Non-Energy Minerals on operating margin (from the bottom quartile).
FebDebtDebt / equity halved over 12 months to 0.31x.

Show 22 earlier events

2025
NovPriceVolume reached 8.6x its 50-day median on 2025-11-12; price +3.9% that day.
SepPeer rankSlipped to the bottom quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
JulDebtDebt / equity halved over 12 months to 0.31x.
JulPriceVolume reached 15.9x its 50-day median on 2025-07-09; price +6.2% that day.
JunResultsEPS (TTM) turned negative.
JunPeer rankSlipped to the bottom quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
JunDebtDebt / equity fell below 1.0x (0.31x).
JunSharesShare count is up 47.3% over 12 months.
MarPromoterPromoter holding fell 5.5 pts to 36.9%.
MarInstitutionsFII + DII holding rose 10.4 pts over 1 quarter to 13.4%.
MarPriceFell 64% from the Sep 2024 peak to the Mar 2025 low.
2024
DecValuationP/E crossed above the 90th percentile of its own history to date (102.3x).
AugPriceRegained the 2024-01 peak, 5 months after the low.
AugValuationP/E crossed above the 90th percentile of its own history to date (109.6x).
AugPriceVolume reached 18.4x its 50-day median on 2024-08-02; price +4.8% that day.
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the 3rd quartile of Non-Energy Minerals on ROCE (from the bottom quartile).
MarInstitutionsFII + DII holding fell 5.8 pts over 1 quarter to 3.1%.
MarPriceFell 28% from the Jan 2024 peak to the Mar 2024 low.
MarPriceVolume reached 6.6x its 50-day median on 2024-03-28; price +2.7% that day.
2023
OctPriceRegained the 2022-01 peak, 7 months after the low.
OctPriceVolume reached 12.1x its 50-day median on 2023-10-05; price +1.9% 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 history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	46.6x	₹2959 cr	3.8%	10.0%	0.4x
2026-10	44.2x	₹2959 cr	3.7%	10.0%	0.4x
2026-09	49.3x	₹2959 cr	3.7%	10.0%	0.4x
2026-08	60.1x	₹2843 cr	3.3%	10.0%	0.4x
2026-07	58.2x	₹2843 cr	3.3%	10.0%	0.4x
2026-06	68.9x	₹2843 cr	3.3%	10.0%	0.4x
2026-05	—	₹2787 cr	-9.1%	6.0%	0.3x
2026-04	—	₹2787 cr	-9.1%	6.0%	0.3x
2026-03	—	₹2787 cr	-9.1%	6.0%	0.3x
2026-02	—	₹2865 cr	-8.8%	6.0%	0.3x
2026-01	—	₹2865 cr	-8.8%	6.0%	0.3x
2025-12	—	₹2865 cr	-8.8%	6.0%	0.3x
2025-11	—	₹2844 cr	-1.9%	6.0%	0.3x
2025-10	—	₹2844 cr	-1.9%	6.0%	0.3x
2025-09	—	₹2844 cr	-1.9%	6.0%	0.3x
2025-08	—	₹2905 cr	-3.1%	6.0%	0.3x
2025-07	—	₹2905 cr	-3.1%	6.0%	0.3x
2025-06	—	₹2905 cr	-3.1%	6.0%	0.3x
2025-05	59.5x	₹2893 cr	3.3%	8.0%	1.5x
2025-04	57.8x	₹2893 cr	3.3%	8.0%	1.5x
2025-03	58.1x	₹2893 cr	3.3%	8.0%	1.5x
2025-02	53.5x	₹2957 cr	2.7%	8.0%	1.5x
2025-01	80.3x	₹2957 cr	2.7%	8.0%	1.5x
2024-12	102.3x	₹2957 cr	2.7%	8.0%	1.5x
2024-11	75.7x	₹2975 cr	4.2%	8.0%	1.5x
2024-10	71.9x	₹2975 cr	4.2%	8.0%	1.5x
2024-09	90.3x	₹2975 cr	4.2%	8.0%	1.5x
2024-08	109.6x	₹2874 cr	2.5%	8.0%	1.5x
2024-07	86.5x	₹2874 cr	2.5%	8.0%	1.5x
2024-06	69.9x	₹2874 cr	2.5%	8.0%	1.5x
2024-05	—	₹2550 cr	-9.5%	2.0%	1.5x
2024-04	—	₹2550 cr	-9.5%	2.0%	1.5x
2024-03	—	₹2550 cr	-9.5%	2.0%	1.5x
2024-02	—	₹2550 cr	-9.5%	2.0%	1.5x
2024-01	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-12	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-11	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-10	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-09	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-08	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-07	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-06	—	₹2550 cr	-9.5%	2.0%	1.5x
2023-05	12.5x	₹2340 cr	4.4%	7.0%	1.5x
2023-04	12.7x	₹2340 cr	4.4%	7.0%	1.5x
2023-03	11.8x	₹2340 cr	4.4%	7.0%	1.5x
2023-02	12.8x	₹2340 cr	4.4%	7.0%	1.5x
2023-01	14.0x	₹2340 cr	4.4%	7.0%	1.5x
2022-12	14.6x	₹2340 cr	4.4%	7.0%	1.5x
2022-11	14.6x	₹2340 cr	4.4%	7.0%	1.5x
2022-10	13.7x	₹2340 cr	4.4%	7.0%	1.5x
2022-09	13.9x	₹2340 cr	4.4%	7.0%	1.5x
2022-08	14.0x	₹2340 cr	4.4%	7.0%	1.5x
2022-07	14.5x	₹2340 cr	4.4%	7.0%	1.5x
2022-06	14.8x	₹2340 cr	4.4%	7.0%	1.5x
2022-05	88.1x	₹1723 cr	0.9%	6.0%	1.4x
2022-04	100.0x	₹1723 cr	0.9%	6.0%	1.4x
2022-03	82.3x	₹1723 cr	0.9%	6.0%	1.4x
2022-02	89.2x	₹1723 cr	0.9%	6.0%	1.4x
2022-01	110.0x	₹1723 cr	0.9%	6.0%	1.4x
2021-12	123.5x	₹1723 cr	0.9%	6.0%	1.4x
2021-11	68.8x	₹1723 cr	0.9%	6.0%	1.4x
2021-10	69.6x	₹1723 cr	0.9%	6.0%	1.4x
2021-09	72.3x	₹1723 cr	0.9%	6.0%	1.4x
2021-08	72.7x	₹1723 cr	0.9%	6.0%	1.4x
2021-07	91.2x	₹1723 cr	0.9%	6.0%	1.4x
2021-06	84.6x	₹1723 cr	0.9%	6.0%	1.4x
2021-05	—	₹1533 cr	-11.5%	2.0%	1.5x
2021-04	—	₹1533 cr	-11.5%	2.0%	1.5x
2021-03	—	₹1533 cr	-11.5%	2.0%	1.5x
2021-02	—	₹1533 cr	-11.5%	2.0%	1.5x
2021-01	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-12	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-11	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-10	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-09	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-08	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-07	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-06	—	₹1533 cr	-11.5%	2.0%	1.5x
2020-05	—	₹1670 cr	-3.3%	5.0%	1.4x
2020-04	—	₹1670 cr	-3.3%	5.0%	1.4x
2020-03	—	₹1670 cr	-3.3%	5.0%	1.4x
2020-02	—	₹1670 cr	-3.3%	5.0%	1.4x
2020-01	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-12	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-11	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-10	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-09	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-08	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-07	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-06	—	₹1670 cr	-3.3%	5.0%	1.4x
2019-05	—	₹1160 cr	-8.6%	4.0%	1.4x
2019-04	—	₹1160 cr	-8.6%	4.0%	1.4x
2019-03	—	₹1160 cr	-8.6%	4.0%	1.4x
2019-02	—	₹1160 cr	-8.6%	4.0%	1.4x
2019-01	—	₹1160 cr	-8.6%	4.0%	1.4x

Methodology and data notes