MURUDESHWAR CERAMICS LTD (MURUDCERA): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹29.37 latest close · −7.8% over the last 90 sessions

₹29.37 month-end · −19.2% over 12 months

₹29.37 month-end · −48.3% over 3 years

₹29.37 month-end · +5.5% since Jun '21

52-week range ₹24.22 to ₹43.40 · 1-year volatility 31.4%

Was the rally earned?

1 year3 years

-19%share price, 1 yearMultiple-driven

Mostly the multiple.

Most of the fall came from investors paying a lower multiple (P/E 22.5x to 18.4x); per-share earnings took off 1 point.
The share count barely moved.

Net profit growth-1 ptsNet profit was little changed.

P/E change-18 ptsThe P/E fell from 22.5x to 18.4x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-48%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 25 points, but investors now pay less per rupee of profit (P/E 49.8x to 18.4x), which took 73 points back.
The share count barely moved.

Net profit growth+24 ptsNet profit rose about 38%, which lifts the price.

P/E change-73 ptsThe P/E fell from 49.8x to 18.4x, 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.

Not shown for 5 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 KAJARIA CERAMICS

How rough has the ride been?

Maximum drawdown-67.4%recovered 2021-05

1-year volatility31.4%annualised

Drawdown from peak

Largest drawdowns

-67.4% (2019-01 peak to 2020-03 low, recovered 2021-05)

-63.7% (2024-08 peak to 2026-10 low, not yet recovered)

-41.5% (2023-10 peak to 2024-06 low, recovered 2024-08)

Is it expensive against its own past and its peers?

18.4xP/E todayNear its historic low

Against its own history17th percentile

CheapestMedian 39.3xDearest

Usual range 17.3x to 89.4x since 2021-06.

Against Producer Manufacturing18.4x vs 29.6x

This company

18.4x

Sector median

29.6x

38% below the Producer Manufacturing median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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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

ROCE11thflat vs a year ago
Op. margin86th▲ 6 pts vs a year ago
Revenue growth22nd▼ 22 pts vs a year ago
EPS growth36th▼ 51 pts vs a year ago
Debt/equity ↓39th▼ 7 pts vs a year ago
Cash cycle ↓2ndflat vs a year ago
P/E ↓75th▲ 5 pts vs a year ago
12M momentum31stflat 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?

~16%annual earnings growth implied by the price

At a P/E of 25.4x, the price would imply about 16.1%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹29.37
P/E: 18.4x
ROCE: 5.0%
Market Cap: ₹177 cr
Revenue (TTM): ₹209 cr
P/S: 0.8x
P/B: 0.5x
ROE: 2.5%
Operating Margin: 19.1%
Debt / Equity: 0.4x
Promoter Holding: 73.9%
12M Momentum: -19.3%

52-week range

₹24.22₹43.40

27% of the way from its 52-week low to its high

Price risk

1Y volatility

31.4%

Beta vs sector

1-year daily

0.80

Balance sheet & cash

Interest cover

operating profit ÷ interest

2.1x

Cash from profit, 3Y

operating cash flow ÷ net profit

2.81x

Share count, 1Y

unchanged

Are profits backed by cash?

2 of 7checks within range3 beyond a threshold

Other income reliance67%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 67.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate1%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 1.1%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.81xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.81x (cash from operations ₹73 cr, net profit ₹26 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+57 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 57 days (92 vs 35). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+45 days / 2 yrsNear threshold

Days payable changed by +45 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 2 years, promoters added 1.3 pts.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters72.7%73.9%+1.3 pts

FIIs0.0%0.0%0.0 pts

DIIs———

Public and others27.3%26.1%-1.3 pts

Number of shareholders

22,274shareholders+5% since Dec '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

+2.4%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 MURUDESHWAR CERAMICS 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 −25% to +27% vs the market, against −4% for all non-financial companies in the same months.
The gap against the base rate (+6.7%, 80% range −1.6% to +10.2%) is within what chance and overlapping periods produce.

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 · 4 beyond the range shown, drawn at the edge

Similar setups' median

+2.4%

All companies' median

−4.3%

Beat the market

54% vs 45%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SUNDRMBRAK Producer Manufacturing	Dec 2021	24x	3%	+21%	−20%	−16%
SPECIALITY Consumer Services	Aug 2025	27x	8%	−33%	−36%	+6%
KALYANIFRG Producer Manufacturing	May 2020	7x	10%	−52%	−53%	−15%
BBL Producer Manufacturing	Jun 2021	27x	5%	+60%	−12%	+28%
ZIMLAB Health Technology	May 2025	28x	10%	−12%	−28%	+12%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
SKMEGGPROD Process Industries	Jul 2022	22x	7%	−28%	−32%	+246%
DYNPRO Consumer Non-Durables	Feb 2025	27x	5%	−11%	−44%	−26%
HARRMALAYA Process Industries	Jun 2023	15x	12%	+1%	−17%	−2%

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, 12-month momentum and P/E. 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 MURUDESHWAR CERAMICS 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

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 changed?

30 events since Jan '22

2026
OctPriceFell 64% from the Aug 2024 peak to the Oct 2026 low.
SepResultsYear-on-year EPS growth turned negative.
SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
JunDividendDividend payout cut from 31% to 0% of profit.
2025
DecPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
NovValuationP/E fell below the 10th percentile of its own history to date (22.5x).
SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).

Show 22 earlier events

2025
JunResultsRevenue (TTM) reached a new high of ₹203 cr.
JunPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
JanValuationP/E fell below the 10th percentile of its own history to date (33.4x).
2024
DecResultsYear-on-year EPS growth turned positive.
DecPeer rankMoved into the 3rd quartile of Producer Manufacturing on EPS growth (from the bottom quartile).
SepPeer rankMoved into the top quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
AugPriceRegained the 2023-10 peak, 2 months after the low.
AugSharesShare count is up 5.2% over 12 months.
JunResultsYear-on-year EPS growth turned negative.
JunPriceFell 42% from the Oct 2023 peak to the Jun 2024 low.
JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the top quartile).
2023
JulSharesShare count is up 5.5% over 12 months.
JunResultsRevenue (TTM) reached a new high of ₹170 cr.
JunPriceRegained the 2022-11 peak, 3 months after the low.
JunDividendStarted paying a dividend (payout 44% of profit).
MarPriceFell 40% from the Nov 2022 peak to the Mar 2023 low.
2022
OctPriceRegained the 2022-01 peak, 4 months after the low.
JunResultsEPS (TTM) turned positive.
JunPriceFell 39% from the Jan 2022 peak to the Jun 2022 low.
JunSharesShare count is up 5.8% over 12 months.
JanPriceRegained the 2021-07 peak, 5 months after the low.

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 history66 months · 2021-06 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	18.4x	₹209 cr	2.5%	5.0%	0.4x
2026-10	16.5x	₹209 cr	2.5%	5.0%	0.4x
2026-09	17.8x	₹209 cr	2.5%	5.0%	0.4x
2026-08	16.9x	₹205 cr	2.8%	5.0%	0.4x
2026-07	17.1x	₹205 cr	2.8%	5.0%	0.4x
2026-06	17.9x	₹205 cr	2.8%	5.0%	0.4x
2026-05	16.1x	₹209 cr	3.3%	5.0%	0.3x
2026-04	16.1x	₹209 cr	3.3%	5.0%	0.3x
2026-03	12.2x	₹209 cr	3.3%	5.0%	0.3x
2026-02	19.6x	₹208 cr	2.7%	5.0%	0.3x
2026-01	19.5x	₹208 cr	2.7%	5.0%	0.3x
2025-12	20.9x	₹208 cr	2.7%	5.0%	0.3x
2025-11	22.5x	₹206 cr	2.6%	5.0%	0.3x
2025-10	26.7x	₹206 cr	2.6%	5.0%	0.3x
2025-09	24.9x	₹206 cr	2.6%	5.0%	0.3x
2025-08	26.2x	₹203 cr	2.6%	5.0%	0.3x
2025-07	26.5x	₹203 cr	2.6%	5.0%	0.3x
2025-06	26.3x	₹203 cr	2.6%	5.0%	0.3x
2025-05	32.2x	₹188 cr	2.1%	5.0%	0.3x
2025-04	26.4x	₹188 cr	2.1%	5.0%	0.3x
2025-03	23.7x	₹188 cr	2.1%	5.0%	0.3x
2025-02	26.5x	₹189 cr	2.1%	5.0%	0.3x
2025-01	33.4x	₹189 cr	2.1%	5.0%	0.3x
2024-12	39.9x	₹189 cr	2.1%	5.0%	0.3x
2024-11	48.4x	₹192 cr	1.7%	5.0%	0.3x
2024-10	48.6x	₹192 cr	1.7%	5.0%	0.3x
2024-09	56.3x	₹192 cr	1.7%	5.0%	0.3x
2024-08	66.9x	₹186 cr	1.4%	5.0%	0.3x
2024-07	65.8x	₹186 cr	1.4%	5.0%	0.3x
2024-06	56.1x	₹186 cr	1.4%	5.0%	0.3x
2024-05	38.7x	₹170 cr	2.0%	5.0%	0.3x
2024-04	46.4x	₹170 cr	2.0%	5.0%	0.3x
2024-03	40.7x	₹170 cr	2.0%	5.0%	0.3x
2024-02	45.1x	₹170 cr	2.0%	5.0%	0.3x
2024-01	47.1x	₹170 cr	2.0%	5.0%	0.3x
2023-12	46.8x	₹170 cr	2.0%	5.0%	0.3x
2023-11	49.8x	₹170 cr	2.0%	5.0%	0.3x
2023-10	60.3x	₹170 cr	2.0%	5.0%	0.3x
2023-09	42.0x	₹170 cr	2.0%	5.0%	0.3x
2023-08	36.1x	₹170 cr	2.0%	5.0%	0.3x
2023-07	36.2x	₹170 cr	2.0%	5.0%	0.3x
2023-06	35.9x	₹170 cr	2.0%	5.0%	0.3x
2023-05	104.0x	₹122 cr	0.6%	4.0%	0.2x
2023-04	91.0x	₹122 cr	0.6%	4.0%	0.2x
2023-03	76.9x	₹122 cr	0.6%	4.0%	0.2x
2023-02	85.5x	₹122 cr	0.6%	4.0%	0.2x
2023-01	97.3x	₹122 cr	0.6%	4.0%	0.2x
2022-12	103.1x	₹122 cr	0.6%	4.0%	0.2x
2022-11	104.7x	₹122 cr	0.6%	4.0%	0.2x
2022-10	99.4x	₹122 cr	0.6%	4.0%	0.2x
2022-09	74.2x	₹122 cr	0.6%	4.0%	0.2x
2022-08	72.4x	₹122 cr	0.6%	4.0%	0.2x
2022-07	60.1x	₹122 cr	0.6%	4.0%	0.2x
2022-06	59.4x	₹122 cr	0.6%	4.0%	0.2x
2022-05	—	₹80 cr	-3.6%	—	0.3x
2022-04	—	₹80 cr	-3.6%	—	0.3x
2022-03	—	₹80 cr	-3.6%	—	0.3x
2022-02	—	₹80 cr	-3.6%	—	0.3x
2022-01	—	₹80 cr	-3.6%	—	0.3x
2021-12	—	₹80 cr	-3.6%	—	0.3x
2021-11	—	₹80 cr	-3.6%	—	0.3x
2021-10	—	₹80 cr	-3.6%	—	0.3x
2021-09	—	₹80 cr	-3.6%	—	0.3x
2021-08	—	₹80 cr	-3.6%	—	0.3x
2021-07	—	₹80 cr	-3.6%	—	0.3x
2021-06	—	₹80 cr	-3.6%	—	0.3x

Methodology and data notes