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MUNJAL AUTO INDUSTRIES LIMITED (MUNJALAU)

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.23 / 100
Profitability 24Growth 32Balance sheet 15
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 73Earnings 59FII/DII 50
Compare withSAMVARDHANA MOTHERSON INTBOSCHCUMMINS INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹105.46 latest close · +6.1% over the last 90 sessions

₹90₹100₹110₹120Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹90₹100₹110₹120Jul 3Sep 4Nov 9

₹105.46 month-end · +25.8% over 12 months

₹80₹100₹120Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹80₹100₹120Nov '25May '26Nov '26

₹105.46 month-end · +30.6% over 3 years

₹80₹100₹120Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹80₹100₹120Nov '23May '25Nov '26

₹105.46 month-end · +150.5% since Jun '19

₹50₹100Jun '19Dec '20Jun '22Nov '23May '25Nov '26 ₹50₹100Jun '19Mar '23Nov '26

52-week range ₹67.20 to ₹130.60 · 1-year volatility 46.6%

Was the rally earned?

+26%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 24 points to the rise, while the multiple moved less (P/E 20.7x to 21.0x).
  • The share count fell 4%.
Net profit growth: +20 pts. Points of the price return explained by net profit growing (or shrinking).+20 ptsNet profit growthP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2 ptsP/E changeShare count change: +4 pts. Points of the price return explained by the share count changing. More shares count against the price.+4 ptsShare count changeShare price: +26%+26%Share priceNet profit growth: +20 pts. Points of the price return explained by net profit growing (or shrinking).+20ProfitP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2P/EShare count change: +4 pts. Points of the price return explained by the share count changing. More shares count against the price.+4SharesShare price: +26%+26%Share price
Net profit growth+20 ptsNet profit rose about 19%, which lifts the price.
P/E change+2 ptsThe P/E rose from 20.7x to 21.0x, which lifts the price.
Share count change+4 ptsShare count fell 4%, which lifts the price.
+31%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 14.4x to 21.0x); per-share earnings took off 13 points.
  • The share count rose 20%.
Net profit growth: +9 pts. Points of the price return explained by net profit growing (or shrinking).+9 ptsNet profit growthP/E change: +43 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+43 ptsP/E changeShare count change: −21 pts. Points of the price return explained by the share count changing. More shares count against the price.−21 ptsShare count changeShare price: +31%+31%Share priceNet profit growth: +9 pts. Points of the price return explained by net profit growing (or shrinking).+9ProfitP/E change: +43 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+43P/EShare count change: −21 pts. Points of the price return explained by the share count changing. More shares count against the price.−21SharesShare price: +31%+31%Share price
Net profit growth+9 ptsNet profit rose about 8%, which lifts the price.
P/E change+43 ptsThe P/E rose from 14.4x to 21.0x, which lifts the price.
Share count change-21 ptsShare count rose 20%, which lowers the price.
+104%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 130 points, but investors now pay less per rupee of profit (P/E 25.1x to 21.0x), which took 26 points back.
  • The share count rose 15%.
Net profit growth: +150 pts. Points of the price return explained by net profit growing (or shrinking).+150 ptsNet profit growthP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26 ptsP/E changeShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20 ptsShare count changeShare price: +104%+104%Share priceNet profit growth: +150 pts. Points of the price return explained by net profit growing (or shrinking).+150ProfitP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26P/EShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20SharesShare price: +104%+104%Share price
Net profit growth+150 ptsNet profit rose about 180%, which lifts the price.
P/E change-26 ptsThe P/E fell from 25.1x to 21.0x, which lowers the price.
Share count change-20 ptsShare count rose 15%, 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 SAMVARDHANA MOTHERSON INT

How rough has the ride been?

Maximum drawdown-65.9%recovered 2020-08
1-year volatility46.6%annualised
Beta vs sector index1.173-year daily, correlation 0.49
Volume spikes10last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−60.3% 0%−20%−40%−60%2020202220242026−60.3%
Largest drawdowns

-65.9% (2019-01 peak to 2020-03 low, recovered 2020-08)

-55.8% (2024-10 peak to 2025-04 low, not yet recovered)

-48.9% (2021-08 peak to 2023-03 low, recovered 2023-11)

Most recent volume spikes

2026-10-28: 9.5x the 50-day median, price +2.6% that day

2026-09-30: 29x the 50-day median, price +6.0% that day

2026-08-18: 9x the 50-day median, price -1.1% 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?

21.0xP/E todayWithin its usual range
Against its own history56th percentile
CheapestMedian 20.0xDearest

Usual range 10.7x to 130.8x since 2019-06.

Against Producer Manufacturing21.0x vs 29.6x
This company
21.0x
Sector median
29.6x

29% below the Producer Manufacturing median.

7.2x55.6x104.0x152.4xJun '19Dec '20Jun '22Dec '23Jun '25Nov '267.2x55.6x104.0x152.4xJun '19Dec '21Jun '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

  • ROCE28th▲ 5 pts vs a year ago
  • Op. margin19thflat vs a year ago
  • Revenue growth70th▲ 20 pts vs a year ago
  • EPS growth65th▲ 19 pts vs a year ago
  • Debt/equity ↓11th▼ 5 pts vs a year ago
  • Cash cycle ↓76th▼ 5 pts vs a year ago
  • P/E ↓67th▼ 8 pts vs a year ago
  • 12M momentum77th▲ 37 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?

~17%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 28.7x, a holder earning 12%/yr needs earnings to grow about 17.4%/yr for 10 years, then trade at 15x.

Delivered15.1%/yrEPS, last 8 fiscal years · 3-yr avg to 3-yr avg
Gap+2.3 ptsimplied minus delivered
Rank489thmost demanding of 856

Over time

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

0%20%41% Jun 2019Nov 2026 0%20%41% Jun 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x18.7%19.7%20.8%
15x16.3%17.4%18.4%
20x13.3%14.4%15.4%

Drag a slider to test other assumptions

Implied: 17.4%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 3%/yr (7.0 yrs)
  • Jan 2021Price implied 40%/yr; EPS has since grown 50%/yr (6.0 yrs)
  • Jan 2022Price implied 18%/yr; EPS has since grown 18%/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
₹105.46
P/E
21.0x
ROCE
10.0%
Market Cap
₹1055 cr
Revenue (TTM)
₹2503 cr
P/S
0.4x
P/B
2.4x
ROE
11.2%
Operating Margin
6.0%
Debt / Equity
0.9x
Promoter Holding
74.8%
12M Momentum
25.8%

52-week range

₹67.20₹130.60
60% of the way from its 52-week low to its high

Price risk

1Y volatility
46.6%
Beta vs sector
1-year daily
1.14

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.60x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance69%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 68.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.60xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.60x (cash from operations ₹197 cr, net profit ₹123 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+14 daysWithin range

Debtor days are above the median of the previous three fiscal years by 14 days (68 vs 54). 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+12 days / 2 yrsWithin range

Days payable changed by +12 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 40,130 to 46,301 (+15%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters74.8%74.8%0.0 pts
FIIs0.0%0.1%0.0 pts
DIIs0.0%0.0%0.0 pts
Public and others25.2%25.1%-0.1 pts

Number of shareholders

46,301shareholders+15% since Dec '23
40k44k47k51k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 40,130
Mar '24: 44,286
Jun '24: 45,332
Sep '24: 50,878
Dec '24: 48,939
Mar '25: 49,044
Jun '25: 48,072
Sep '25: 50,063
Dec '25: 48,805
Mar '26: 47,111
Jun '26: 46,301
 40k44k47k51k Dec '23Dec '24Dec '25Jun '26
Dec '23: 40,130
Mar '24: 44,286
Jun '24: 45,332
Sep '24: 50,878
Dec '24: 48,939
Mar '25: 49,044
Jun '25: 48,072
Sep '25: 50,063
Dec '25: 48,805
Mar '26: 47,111
Jun '26: 46,301

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

+34.9%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like MUNJAL AUTO INDUSTRIES 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 −5% to +70% vs the market, against −4% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +38.5%, 80% range +22.6% to +43.1%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−50%0%+50%+100%
JAYBARMARU · Feb 2024: −46.8% vs market
BANSWRAS · May 2023: −37.6% vs market
SHIVATEX · Jul 2021: −36.8% vs market
RITCO · Jan 2025: −35.9% vs market
ISFT · Nov 2021: −28.9% vs market
TVSSRICHAK · Oct 2023: −28.3% vs market
NELCAST · Aug 2023: −27.0% vs market
SPORTKING · Aug 2024: −20.6% vs market
JAYSREETEA · Jun 2021: −16.9% vs market
RML · Apr 2024: −12.9% vs market
SANDHAR · Oct 2025: −8.0% vs market
JKTYRE · Oct 2023: −6.4% vs market
MAGADSUGAR · Jun 2021: −5.6% vs market
DBL · Jun 2024: −4.6% vs market
RCF · Aug 2020: −4.4% vs market
PARAGMILK · May 2025: +3.1% vs market
GOKUL · Aug 2020: +4.0% vs market
HITECH · Dec 2022: +10.4% vs market
RANEHOLDIN · Sep 2023: +15.2% vs market
ARVIND · May 2021: +15.9% vs market
SANGAMIND · Apr 2020: +20.3% vs market
BLKASHYAP · May 2023: +22.1% vs market
BIL · Oct 2025: +25.3% vs market
SALZERELEC · Sep 2022: +29.2% vs market
JSL · Feb 2020: +34.1% vs market
RICOAUTO · Oct 2022: +35.6% vs market
RPSGVENT · Apr 2021: +36.7% vs market
GOODLUCK · Mar 2023: +38.4% vs market
ELECTCAST · Oct 2023: +39.4% vs market
PENIND · May 2024: +40.6% vs market
KANPRPLA · Mar 2025: +46.8% vs market
DEEPAKFERT · Apr 2020: +56.4% vs market
UNITEDPOLY · Mar 2025: +56.5% vs market
COSMOFIRST · Jan 2020: +59.4% vs market
NRAIL · Oct 2025: +61.3% vs market
TBZ · Oct 2023: +61.4% vs market
RAMRAT · Apr 2025: +61.5% vs market
MWL · Oct 2025: +72.9% vs market
GPTINFRA · Oct 2023: +73.0% vs market
HARRMALAYA · Jun 2020: +78.6% vs market
TCPLPACK · Feb 2022: +96.0% vs market
CEMPRO · Nov 2022: +98.6% vs market
JINDALSAW · Mar 2023: +99.6% vs market
MANAKCOAT · Sep 2024: +102.0% vs market
KAPSTON · May 2025: +105.4% vs market
UNIVCABLES · Aug 2025: +115.0% vs market
NITINSPIN · Apr 2021: +126.7% vs market
HPL · Jun 2023: +127.9% vs market
GRPLTD · Jun 2022: +134.2% vs market
GOKEX · Apr 2021: +255.3% vs market
Similar setups +34.9%All companies −3.6%← 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 · 7 beyond the range shown, drawn at the edge

Similar setups' median
+34.9%
All companies' median
−3.6%
Beat the market
70% vs 46%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PENIND
Non-Energy Minerals		 May 2024 26x13% +109%−9% +41%
NITINSPIN
Process Industries		 Apr 2021 21x6% +175%−4% +127%
JSL
Non-Energy Minerals		 Feb 2020 13x12% +11%−14% +34%
BLKASHYAP
Industrial Services		 May 2023 20x10% +72%−10% +22%
ARVIND
Process Industries		 May 2021 22x9% +218%0% +16%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JKTYRE
Consumer Durables		 Oct 2023 29x11% +75%−6% −6%
KAPSTON
Commercial Services		 May 2025 35x— +41%−21% +105%
RPSGVENT
Finance		 Apr 2021 —4% +158%−8% +37%
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: interest cover, 12-month momentum and P/S. 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 MUNJAL AUTO INDUSTRIES 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.

NRAGARWAL INDUSTRIESNRAIL
Process Industries
81%similar
debt/equitymarket cap
UTTAM SUGAR MILLSUTTAMSUGAR
Process Industries
73%similar
promoter holdingdebt/equity
DALMIA BHARAT SUGAR AND INDUSTDALMIASUG
Process Industries
68%similar
promoter holdingoperating margin
GRM OVERSEASGRMOVER
Process Industries
64%similar
volatilityP/E
MUKKA PROTEINSMUKKA
Consumer Non-Durables
63%similar
market cappromoter holding
PYRAMID TECHNOPLASTPYRAMID
Producer Manufacturing
59%similar
promoter holdingEPS growth
RAJRATAN GLOBAL WIRERAJRATAN
Producer Manufacturing
59%similar
volatilityEPS growth
IFGL REFRACTORIESIFGLEXPOR
Producer Manufacturing
57%similar
operating marginmarket cap

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. OctPriceVolume reached 9.5x its 50-day median on 2026-10-28; price +2.6% that day.
  2. JulPriceVolume reached 185.4x its 50-day median on 2026-07-06; price +11.1% that day.
  3. JunResultsYear-on-year EPS growth turned positive.
  4. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  5. MayPriceVolume reached 37.7x its 50-day median on 2026-05-11; price +9.7% that day.
  6. MarResultsRevenue (TTM) reached a new high of ₹2,193 cr.
  7. MarPeer rankMoved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  8. FebPriceVolume reached 13.9x its 50-day median on 2026-02-12; price +11.7% that day.
Show 22 earlier events
  1. DecResultsYear-on-year EPS growth turned negative.
  2. DecPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepPriceVolume reached 98.8x its 50-day median on 2025-09-24; price +11.3% that day.
  5. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  6. AprPriceFell 56% from the Oct 2024 peak to the Apr 2025 low.
  7. MarPeer rankMoved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
  8. OctPriceVolume reached 5.2x its 50-day median on 2024-10-16; price +7.3% that day.
  9. SepPriceRegained the 2024-01 peak, 6 months after the low.
  10. SepPeer rankSlipped to the bottom quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  11. JulPriceVolume reached 71.9x its 50-day median on 2024-07-31; price +20.0% that day.
  12. JunResultsYear-on-year EPS growth turned negative.
  13. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  14. JunPriceVolume reached 22.6x its 50-day median on 2024-06-21; price +4.8% that day.
  15. MarPriceFell 34% from the Jan 2024 peak to the Mar 2024 low.
  16. FebPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  17. JanPriceVolume reached 8.9x its 50-day median on 2024-01-10; price +9.8% that day.
  18. NovPriceRegained the 2021-08 peak, 8 months after the low.
  19. NovPriceVolume reached 73.4x its 50-day median on 2023-11-23; price +8.4% that day.
  20. OctValuationP/E fell below the 10th percentile of its own history to date (9.5x).
  21. JulPriceVolume reached 14.9x its 50-day median on 2023-07-05; price +7.8% that day.
  22. JunValuationP/E fell below the 10th percentile of its own history to date (9.3x).

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 history90 months · 2019-06 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1121.0x₹2503 cr11.2%10.0%0.9x
2026-1019.4x₹2503 cr11.2%10.0%0.9x
2026-0922.5x₹2503 cr11.2%10.0%0.9x
2026-0828.8x₹2295 cr9.2%10.0%0.9x
2026-0725.2x₹2295 cr9.2%10.0%0.9x
2026-0623.1x₹2295 cr9.2%10.0%0.9x
2026-0518.5x₹2193 cr12.3%9.0%0.8x
2026-0416.6x₹2193 cr12.3%9.0%0.8x
2026-0313.9x₹2193 cr12.3%9.0%0.8x
2026-0224.9x₹2109 cr8.6%9.0%0.8x
2026-0121.7x₹2109 cr8.6%9.0%0.8x
2025-1224.1x₹2109 cr8.6%9.0%0.8x
2025-1120.7x₹2047 cr10.1%9.0%0.8x
2025-1023.0x₹2047 cr10.1%9.0%0.8x
2025-0925.4x₹2047 cr10.1%9.0%0.8x
2025-0823.8x₹2066 cr8.2%9.0%0.8x
2025-0721.0x₹2066 cr8.2%9.0%0.8x
2025-0620.7x₹2066 cr8.2%9.0%0.8x
2025-0515.0x₹1960 cr14.3%14.0%0.7x
2025-0413.1x₹1960 cr14.3%14.0%0.7x
2025-0312.1x₹1960 cr14.3%14.0%0.7x
2025-0215.2x₹1860 cr9.6%14.0%0.7x
2025-0120.2x₹1860 cr9.6%14.0%0.7x
2024-1221.5x₹1860 cr9.6%14.0%0.7x
2024-1126.6x₹1883 cr8.5%14.0%0.7x
2024-1032.0x₹1883 cr8.5%14.0%0.7x
2024-0929.2x₹1883 cr8.5%14.0%0.7x
2024-0827.4x₹1882 cr8.5%14.0%0.7x
2024-0728.9x₹1882 cr8.5%14.0%0.7x
2024-0623.0x₹1882 cr8.5%14.0%0.7x
2024-0514.3x₹1984 cr12.1%9.0%0.7x
2024-0415.0x₹1984 cr12.1%9.0%0.7x
2024-0314.2x₹1984 cr12.1%9.0%0.7x
2024-0215.1x₹1984 cr12.1%9.0%0.7x
2024-0118.7x₹1984 cr12.1%9.0%0.7x
2023-1215.5x₹1984 cr12.1%9.0%0.7x
2023-1114.4x₹1984 cr12.1%9.0%0.7x
2023-109.5x₹1984 cr12.1%9.0%0.7x
2023-0910.1x₹1984 cr12.1%9.0%0.7x
2023-0810.7x₹1984 cr12.1%9.0%0.7x
2023-0710.2x₹1984 cr12.1%9.0%0.7x
2023-069.3x₹1984 cr12.1%9.0%0.7x
2023-0518.9x₹1916 cr8.0%11.0%0.3x
2023-0416.0x₹1916 cr8.0%11.0%0.3x
2023-0313.5x₹1916 cr8.0%11.0%0.3x
2023-0215.1x₹1916 cr8.0%11.0%0.3x
2023-0117.7x₹1916 cr8.0%11.0%0.3x
2022-1217.9x₹1916 cr8.0%11.0%0.3x
2022-1119.1x₹1916 cr8.0%11.0%0.3x
2022-1018.7x₹1916 cr8.0%11.0%0.3x
2022-0919.2x₹1916 cr8.0%11.0%0.3x
2022-0819.2x₹1916 cr8.0%11.0%0.3x
2022-0716.3x₹1916 cr8.0%11.0%0.3x
2022-0616.1x₹1916 cr8.0%11.0%0.3x
2022-0520.3x₹2123 cr5.8%11.0%0.5x
2022-0422.2x₹2123 cr5.8%11.0%0.5x
2022-0319.9x₹2123 cr5.8%11.0%0.5x
2022-0222.4x₹2123 cr5.8%11.0%0.5x
2022-0126.0x₹2123 cr5.8%11.0%0.5x
2021-1225.4x₹2123 cr5.8%11.0%0.5x
2021-1125.1x₹2123 cr5.8%11.0%0.5x
2021-1027.1x₹2123 cr5.8%11.0%0.5x
2021-0928.5x₹2123 cr5.8%11.0%0.5x
2021-0828.5x₹2123 cr5.8%11.0%0.5x
2021-0732.2x₹2123 cr5.8%11.0%0.5x
2021-0632.4x₹2123 cr5.8%11.0%0.5x
2021-05152.4x₹1236 cr1.4%5.0%0.4x
2021-04128.2x₹1236 cr1.4%5.0%0.4x
2021-03131.0x₹1236 cr1.4%5.0%0.4x
2021-02151.2x₹1236 cr1.4%5.0%0.4x
2021-01140.0x₹1236 cr1.4%5.0%0.4x
2020-12147.8x₹1236 cr1.4%5.0%0.4x
2020-11148.8x₹1236 cr1.4%5.0%0.4x
2020-10133.4x₹1236 cr1.4%5.0%0.4x
2020-09145.2x₹1236 cr1.4%5.0%0.4x
2020-08136.8x₹1236 cr1.4%5.0%0.4x
2020-07117.9x₹1236 cr1.4%5.0%0.4x
2020-06130.7x₹1236 cr1.4%5.0%0.4x
2020-0510.8x₹1214 cr11.2%—0.2x
2020-0410.1x₹1214 cr11.2%—0.2x
2020-037.2x₹1214 cr11.2%—0.2x
2020-0210.1x₹1214 cr11.2%—0.2x
2020-0113.0x₹1214 cr11.2%—0.2x
2019-1212.8x₹1214 cr11.2%—0.2x
2019-1112.9x₹1214 cr11.2%—0.2x
2019-1012.6x₹1214 cr11.2%—0.2x
2019-0911.7x₹1214 cr11.2%—0.2x
2019-089.5x₹1214 cr11.2%—0.2x
2019-078.6x₹1214 cr11.2%—0.2x
2019-0611.7x₹1214 cr11.2%—0.2x

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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