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NAHAR POLYFILMS LTD (NAHARPOLY)

Process Industries

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.64 / 100
Profitability 44Growth 50Balance sheet 100
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.40 / 100
Price 26Earnings 56FII/DII 39
Compare withVARDHMAN TEXTILES LIMTEDARVIND LIMITEDTRIDENT LTD

Passes these screens: Value Pick

Share Price
₹223.23
P/E
7.6x
ROCE
11.0%
Market Cap
₹550 cr
Revenue (TTM)
₹667 cr
P/S
0.8x
P/B
0.6x
ROE
8.3%
Operating Margin
9.0%
Debt / Equity
0.1x
Promoter Holding
72.5%
12M Momentum
-21.7%
P/E vs its own history34th percentilesince Jan '19
P/E vs Process Industries0.4xthe sector median

52-week range

₹200.00₹326.00
18% of the way from its 52-week low to its high

Price risk

1Y volatility
43.5%
Beta vs sector
1-year daily
1.36

Balance sheet & cash

Interest cover
operating profit ÷ interest
11.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.94x
Share count, 1Y
unchanged

Was the rally earned?

-22%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 21 points, but investors now pay less per rupee of profit (P/E 12.2x to 7.6x), which took 42 points back.
  • The share count barely moved.
1 year Net profit growth: +21 pts. Points of the price return explained by net profit growing (or shrinking).+21 ptsP/E change: -42 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-42 ptsShare count change: -1 pts. Points of the price return explained by the share count changing. More shares count against the price. -22% 1 year Net profit growth: +21 pts. Points of the price return explained by net profit growing (or shrinking).+21 ptsP/E change: -42 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-42 ptsShare count change: -1 pts. Points of the price return explained by the share count changing. More shares count against the price. -22%
Net profit growth+21 ptsNet profit rose about 27%, which lifts the price.
P/E change-42 ptsThe P/E fell from 12.2x to 7.6x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+2%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (+2%).
  • The share count barely moved.
3 years Net profit growth: +53 pts. Points of the price return explained by net profit growing (or shrinking).+53 ptsP/E change: -50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-50 ptsShare count change: -1 pts. Points of the price return explained by the share count changing. More shares count against the price. +2% 3 years Net profit growth: +53 pts. Points of the price return explained by net profit growing (or shrinking).+53 ptsP/E change: -50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-50 ptsShare count change: -1 pts. Points of the price return explained by the share count changing. More shares count against the price. +2%
Net profit growth+53 ptsNet profit rose about 68%, which lifts the price.
P/E change-50 ptsThe P/E fell from 12.5x to 7.6x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
-4%share price, 5 yearsRoughly flat
  • The share price was roughly flat over 5 years (-4%).
  • The share count barely moved.
5 years Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsP/E change: -18 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-18 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -4% 5 years Net profit growth: +14 pts. Points of the price return explained by net profit growing (or shrinking).+14 ptsP/E change: -18 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-18 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -4%
Net profit growth+14 ptsNet profit rose about 15%, which lifts the price.
P/E change-18 ptsThe P/E fell from 9.2x to 7.6x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with VARDHMAN TEXTILES LIMTED

Is it expensive against its own past and its peers?

7.6xP/E todayWithin its usual range
Against its own history34th percentileMedian 8.8x; usual range 5.7x to 21.9x since 2019-01.
Against Process Industries7.6x vs 18.0xBelow the Process Industries median.
4.0x49.4x94.7x140.0xJan '19Aug '20Mar '22Oct '23May '25Oct '264.0x49.4x94.7x140.0xJan '19Aug '21Mar '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Process Industries is valued

What is the price implying?

~7%annual earnings growth implied by the price

At a P/E of 10.0x, the price would imply about 7.0%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

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

What prices imply across Process Industries The market-wide Expectations lists

What changed?

  1. Sep '26Slipped to the 3rd quartile of Process Industries on operating margin (from the top quartile).
  2. Aug '26Volume reached 20.4x its 50-day median on 2026-08-06; price -12.3% that day.
  3. Jun '26Moved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
  4. May '26Volume reached 11.1x its 50-day median on 2026-05-19; price +7.8% that day.
  5. Mar '26Slipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
  6. Dec '25Moved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  7. Nov '25Volume reached 6.8x its 50-day median on 2025-11-03; price +10.1% that day.
  8. Aug '25Slipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
Show 22 earlier events
  1. Jun '25Year-on-year EPS growth turned positive.
  2. Jun '25Moved into the top quartile of Process Industries on operating margin (from the 3rd quartile).
  3. Jun '25Dividend payout cut from 66% to 5% of profit.
  4. May '25Volume reached 55.2x its 50-day median on 2025-05-27; price +6.3% that day.
  5. Mar '25Slipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  6. Dec '24Moved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  7. Dec '24Volume reached 42.2x its 50-day median on 2024-12-17; price +1.8% that day.
  8. Jul '24Volume reached 82.6x its 50-day median on 2024-07-02; price +9.2% that day.
  9. Jun '24Fell 71% from the Mar 2022 peak to the Jun 2024 low.
  10. Jun '24P/E crossed above the 90th percentile of its own history to date (104.9x).
  11. Jun '24Volume reached 10.8x its 50-day median on 2024-06-18; price +4.7% that day.
  12. Feb '24Volume reached 13.7x its 50-day median on 2024-02-07; price -0.1% that day.
  13. Nov '23Volume reached 5.1x its 50-day median on 2023-11-15; price +4.7% that day.
  14. Sep '23Volume reached 9.1x its 50-day median on 2023-09-11; price +4.6% that day.
  15. Jun '23Year-on-year EPS growth turned negative.
  16. Jun '23P/E crossed above the 90th percentile of its own history to date (14.0x).
  17. Jun '23Slipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
  18. Apr '23Volume reached 20.9x its 50-day median on 2023-04-24; price +13.3% that day.
  19. Mar '23Volume reached 45.8x its 50-day median on 2023-03-13; price +10.6% that day.
  20. Oct '22Volume reached 7.6x its 50-day median on 2022-10-18; price +6.6% that day.
  21. Sep '22Volume reached 13.9x its 50-day median on 2022-09-05; price +8.1% that day.
  22. Jun '22Revenue (TTM) reached a new high of ₹489 cr.

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

Are profits backed by cash?

6 of 7 checks are within range, 1 near a threshold.
Tap a check to see how it is measured.

Other income reliance34%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 33.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate29%Within range

Median quarterly effective tax rate over about 2.5 years: 29.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.94xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.94x (cash from operations ₹124 cr, net profit ₹132 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-3 daysWithin range

Debtor days are below the median of the previous three fiscal years by 3 days (12 vs 15). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress12% of fixed assetsWithin range

Capital work-in-progress is 12% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+2 days / 2 yrsWithin range

Days payable changed by +2 over two years. Bands: rise of up to 30 days; more than 30 days.

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 1.4 pts.
  • The number of shareholders fell from 24,338 to 19,210 (-21%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters71.1%72.5%+1.4 pts
FIIs0.1%0.0%0.0 pts
DIIs0.0%0.0%0.0 pts
Public and others28.8%27.5%-1.4 pts

Number of shareholders

19,210shareholders-21% since Dec '23
19k21k23k24k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 24,338
Mar '24: 24,213
Jun '24: 22,672
Sep '24: 22,764
Dec '24: 22,157
Mar '25: 21,871
Jun '25: 20,620
Sep '25: 20,404
Dec '25: 19,743
Mar '26: 19,351
Jun '26: 19,210
 19k21k23k24k Dec '23Dec '24Dec '25Jun '26
Dec '23: 24,338
Mar '24: 24,213
Jun '24: 22,672
Sep '24: 22,764
Dec '24: 22,157
Mar '25: 21,871
Jun '25: 20,620
Sep '25: 20,404
Dec '25: 19,743
Mar '26: 19,351
Jun '26: 19,210

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

How rough has the ride been?

Maximum drawdown-70.6%not yet recovered
1-year volatility43.5%annualised
Beta vs sector index1.323-year daily, correlation 0.47
Volume spikes7last 90 sessions, 5x the 50-day median

Monthly share price

₹26₹205₹383₹562 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹36.80
2019-02: ₹36.90
2019-03: ₹38.00
2019-04: ₹33.90
2019-05: ₹36.95
2019-06: ₹34.70
2019-07: ₹26.85
2019-08: ₹31.60
2019-09: ₹34.30
2019-10: ₹35.25
2019-11: ₹33.60
2019-12: ₹32.70
2020-01: ₹37.45
2020-02: ₹37.00
2020-03: ₹26.00
2020-04: ₹34.65
2020-05: ₹40.80
2020-06: ₹64.90
2020-07: ₹61.35
2020-08: ₹62.20
2020-09: ₹65.45
2020-10: ₹79.10
2020-11: ₹85.70
2020-12: ₹95.90
2021-01: ₹88.95
2021-02: ₹86.45
2021-03: ₹110.50
2021-04: ₹129.85
2021-05: ₹158.30
2021-06: ₹172.35
2021-07: ₹223.80
2021-08: ₹230.15
2021-09: ₹243.50
2021-10: ₹233.40
2021-11: ₹227.15
2021-12: ₹280.75
2022-01: ₹344.20
2022-02: ₹411.95
2022-03: ₹561.60
2022-04: ₹506.50
2022-05: ₹397.65
2022-06: ₹381.75
2022-07: ₹358.60
2022-08: ₹353.80
2022-09: ₹337.50
2022-10: ₹306.60
2022-11: ₹285.10
2022-12: ₹265.20
2023-01: ₹253.60
2023-02: ₹213.45
2023-03: ₹228.60
2023-04: ₹274.05
2023-05: ₹247.10
2023-06: ₹246.70
2023-07: ₹229.40
2023-08: ₹251.95
2023-09: ₹251.15
2023-10: ₹219.15
2023-11: ₹228.75
2023-12: ₹225.45
2024-01: ₹236.60
2024-02: ₹194.70
2024-03: ₹178.45
2024-04: ₹203.10
2024-05: ₹185.55
2024-06: ₹242.37
2024-07: ₹323.43
2024-08: ₹264.50
2024-09: ₹245.00
2024-10: ₹227.95
2024-11: ₹277.29
2024-12: ₹260.80
2025-01: ₹225.30
2025-02: ₹186.60
2025-03: ₹197.20
2025-04: ₹204.97
2025-05: ₹316.19
2025-06: ₹356.80
2025-07: ₹308.70
2025-08: ₹293.50
2025-09: ₹285.20
2025-10: ₹285.05
2025-11: ₹259.50
2025-12: ₹233.00
2026-01: ₹233.48
2026-02: ₹246.37
2026-03: ₹203.33
2026-04: ₹252.55
2026-05: ₹258.80
2026-06: ₹252.10
2026-07: ₹268.65
2026-08: ₹243.75
2026-09: ₹225.27
2026-10: ₹223.23
 ₹26₹205₹383₹562 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹36.80
2019-02: ₹36.90
2019-03: ₹38.00
2019-04: ₹33.90
2019-05: ₹36.95
2019-06: ₹34.70
2019-07: ₹26.85
2019-08: ₹31.60
2019-09: ₹34.30
2019-10: ₹35.25
2019-11: ₹33.60
2019-12: ₹32.70
2020-01: ₹37.45
2020-02: ₹37.00
2020-03: ₹26.00
2020-04: ₹34.65
2020-05: ₹40.80
2020-06: ₹64.90
2020-07: ₹61.35
2020-08: ₹62.20
2020-09: ₹65.45
2020-10: ₹79.10
2020-11: ₹85.70
2020-12: ₹95.90
2021-01: ₹88.95
2021-02: ₹86.45
2021-03: ₹110.50
2021-04: ₹129.85
2021-05: ₹158.30
2021-06: ₹172.35
2021-07: ₹223.80
2021-08: ₹230.15
2021-09: ₹243.50
2021-10: ₹233.40
2021-11: ₹227.15
2021-12: ₹280.75
2022-01: ₹344.20
2022-02: ₹411.95
2022-03: ₹561.60
2022-04: ₹506.50
2022-05: ₹397.65
2022-06: ₹381.75
2022-07: ₹358.60
2022-08: ₹353.80
2022-09: ₹337.50
2022-10: ₹306.60
2022-11: ₹285.10
2022-12: ₹265.20
2023-01: ₹253.60
2023-02: ₹213.45
2023-03: ₹228.60
2023-04: ₹274.05
2023-05: ₹247.10
2023-06: ₹246.70
2023-07: ₹229.40
2023-08: ₹251.95
2023-09: ₹251.15
2023-10: ₹219.15
2023-11: ₹228.75
2023-12: ₹225.45
2024-01: ₹236.60
2024-02: ₹194.70
2024-03: ₹178.45
2024-04: ₹203.10
2024-05: ₹185.55
2024-06: ₹242.37
2024-07: ₹323.43
2024-08: ₹264.50
2024-09: ₹245.00
2024-10: ₹227.95
2024-11: ₹277.29
2024-12: ₹260.80
2025-01: ₹225.30
2025-02: ₹186.60
2025-03: ₹197.20
2025-04: ₹204.97
2025-05: ₹316.19
2025-06: ₹356.80
2025-07: ₹308.70
2025-08: ₹293.50
2025-09: ₹285.20
2025-10: ₹285.05
2025-11: ₹259.50
2025-12: ₹233.00
2026-01: ₹233.48
2026-02: ₹246.37
2026-03: ₹203.33
2026-04: ₹252.55
2026-05: ₹258.80
2026-06: ₹252.10
2026-07: ₹268.65
2026-08: ₹243.75
2026-09: ₹225.27
2026-10: ₹223.23

Last 90 trading days

₹209₹233₹256₹280 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹254.20
2026-06-25: ₹253.35
2026-06-30: ₹252.10
2026-07-02: ₹254.35
2026-07-06: ₹254.95
2026-07-08: ₹245.75
2026-07-10: ₹253.05
2026-07-14: ₹251.80
2026-07-16: ₹251.95
2026-07-20: ₹262.00
2026-07-22: ₹272.60
2026-07-24: ₹273.80
2026-07-28: ₹266.10
2026-07-30: ₹271.10
2026-08-03: ₹274.90
2026-08-05: ₹273.80
2026-08-07: ₹237.00
2026-08-11: ₹250.70
2026-08-13: ₹249.45
2026-08-17: ₹237.65
2026-08-19: ₹237.60
2026-08-21: ₹238.75
2026-08-25: ₹244.70
2026-08-27: ₹246.55
2026-08-31: ₹243.75
2026-09-02: ₹250.37
2026-09-04: ₹244.54
2026-09-08: ₹243.18
2026-09-10: ₹233.77
2026-09-15: ₹226.24
2026-09-17: ₹222.28
2026-09-21: ₹223.41
2026-09-23: ₹228.81
2026-09-25: ₹227.68
2026-09-29: ₹230.27
2026-10-01: ₹225.64
2026-10-06: ₹220.36
2026-10-08: ₹223.85
2026-10-12: ₹219.45
2026-10-14: ₹221.44
2026-10-16: ₹224.24
2026-10-21: ₹213.73
2026-10-23: ₹211.67
2026-10-27: ₹218.52
2026-10-29: ₹230.66
2026-10-30: ₹223.23
 ₹209₹233₹256₹280 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹254.20
2026-06-25: ₹253.35
2026-06-30: ₹252.10
2026-07-02: ₹254.35
2026-07-06: ₹254.95
2026-07-08: ₹245.75
2026-07-10: ₹253.05
2026-07-14: ₹251.80
2026-07-16: ₹251.95
2026-07-20: ₹262.00
2026-07-22: ₹272.60
2026-07-24: ₹273.80
2026-07-28: ₹266.10
2026-07-30: ₹271.10
2026-08-03: ₹274.90
2026-08-05: ₹273.80
2026-08-07: ₹237.00
2026-08-11: ₹250.70
2026-08-13: ₹249.45
2026-08-17: ₹237.65
2026-08-19: ₹237.60
2026-08-21: ₹238.75
2026-08-25: ₹244.70
2026-08-27: ₹246.55
2026-08-31: ₹243.75
2026-09-02: ₹250.37
2026-09-04: ₹244.54
2026-09-08: ₹243.18
2026-09-10: ₹233.77
2026-09-15: ₹226.24
2026-09-17: ₹222.28
2026-09-21: ₹223.41
2026-09-23: ₹228.81
2026-09-25: ₹227.68
2026-09-29: ₹230.27
2026-10-01: ₹225.64
2026-10-06: ₹220.36
2026-10-08: ₹223.85
2026-10-12: ₹219.45
2026-10-14: ₹221.44
2026-10-16: ₹224.24
2026-10-21: ₹213.73
2026-10-23: ₹211.67
2026-10-27: ₹218.52
2026-10-29: ₹230.66
2026-10-30: ₹223.23

Drawdown from peak

0% -35% -70% Jan '19Dec '22Oct '26 0% -35% -70% Jan '19Dec '22Oct '26
Largest drawdowns

-70.6% (2022-03 peak to 2024-06 low, not yet recovered)

-39.6% (2019-01 peak to 2019-07 low, recovered 2020-06)

-31.7% (2021-08 peak to 2021-08 low, recovered 2022-01)

Most recent volume spikes

2026-08-10: 5.9x the 50-day median, price +4.4% that day

2026-08-06: 20.4x the 50-day median, price -12.3% that day

2026-08-05: 5.3x the 50-day median, price -1.7% 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).

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 Process Industries sector page Watch it move against Process Industries in the Observatory

What else looks like this?

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

CompanySectorSimilarityClosest on
FABTECH TECHNOLOGIES (FABTECH)Industrial Services73%market cap, P/E
MANGAL ELECTRIC INDUSTRIES (MEIL)Producer Manufacturing73%operating margin, revenue
APEX FROZEN FOODS (APEX)Consumer Non-Durables66%promoter holding, revenue growth
RUPA & COMPANY (RUPA)Consumer Non-Durables66%promoter holding, ROCE
EVEREST KANTO CYLINDERS (EKC)Producer Manufacturing63%EPS growth, P/E
INSECTICIDES INDIA (INSECTICID)Process Industries54%promoter holding, debt/equity
JAI CORP (JAICORPLTD)Process Industries54%revenue growth, revenue
PUDUMJEE PAPER PRODUCTS (PDMJEPAPER)Process Industries53%promoter holding, P/E

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

What happened next to similar setups

+5.9%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like NAHAR POLYFILMS 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 −14% to +29% vs the market, against −7% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +13.3%, 80% range +5.3% to +16.6%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−50%0%+50%+100%
ALANKIT · Dec 2024: −53.1% vs market
HMVL · Jan 2022: −32.2% vs market
RUPA · Oct 2025: −32.1% vs market
ANDHRAPAP · Aug 2025: −27.3% vs market
VINDHYATEL · Jul 2021: −26.1% vs market
INSECTICID · Oct 2025: −24.8% vs market
TVTODAY · May 2024: −23.5% vs market
NATHBIOGEN · Feb 2024: −23.4% vs market
PODDARMENT · Jul 2025: −16.8% vs market
LINC · Feb 2025: −15.3% vs market
SESHAPAPER · Jul 2025: −14.8% vs market
DALMIASUG · Aug 2023: −14.8% vs market
VETO · Jul 2025: −14.4% vs market
VENKEYS · May 2025: −12.0% vs market
AMBIKCO · Feb 2025: −11.4% vs market
PTL · Aug 2023: −7.4% vs market
IGPL · Jul 2025: −7.3% vs market
GHCLTEXTIL · Mar 2025: −7.1% vs market
SAHYADRI · Jul 2025: −4.5% vs market
PLASTIBLEN · Oct 2025: −3.2% vs market
NCLIND · Jul 2024: −1.2% vs market
RUCHIRA · Jun 2024: +0.9% vs market
ALBERTDAVD · Mar 2022: +1.7% vs market
BLISSGVS · Oct 2023: +5.2% vs market
GNFC · Aug 2025: +5.8% vs market
RAMCOIND · Dec 2023: +6.1% vs market
VSSL · Mar 2025: +7.1% vs market
JAGRAN · Sep 2021: +8.9% vs market
SEMAC · Dec 2020: +9.3% vs market
BALMLAWRIE · Nov 2023: +13.1% vs market
WSTCSTPAPR · Aug 2025: +14.1% vs market
ORIENTCER · Apr 2020: +16.7% vs market
MANAKSIA · Mar 2021: +18.5% vs market
TNPETRO · Mar 2025: +18.8% vs market
IOLCP · Mar 2025: +22.2% vs market
DICIND · Nov 2023: +24.3% vs market
VARDHACRLC · Jan 2021: +26.5% vs market
DTIL · Mar 2020: +29.2% vs market
DBCORP · Apr 2022: +29.8% vs market
IMFA · Jul 2023: +38.6% vs market
GAEL · Oct 2025: +45.3% vs market
KIRLOSIND · Oct 2020: +58.1% vs market
GIPCL · Dec 2022: +66.3% vs market
IFGLEXPOR · Mar 2023: +74.7% vs market
LGBBROSLTD · Apr 2021: +77.0% vs market
GNA · Oct 2025: +89.1% vs market
GEOJITFSL · Sep 2023: +103.0% vs market
UNIPARTS · Jul 2025: +105.8% vs market
GHCL · Jun 2021: +108.2% vs market
DVL · May 2020: +114.1% vs market
Similar setups +5.9%All companies −7.4%← 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
+5.9%
All companies' median
−7.4%
Beat the market
58% vs 42%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AMBIKCO
Process Industries		 Feb 2025 11x11% −20%−38% −11%
PTL
Finance		 Aug 2023 9x14% +9%−11% −7%
MANAKSIA
Non-Energy Minerals		 Mar 2021 6x9% +86%−20% +19%
BLISSGVS
Health Technology		 Oct 2023 12x12% +11%−17% +5%
GIPCL
Utilities		 Dec 2022 5x16% 0%−20% +66%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
WSTCSTPAPR
Producer Manufacturing		 Aug 2025 11x11% −18%−21% +14%
KIRLOSIND
Non-Energy Minerals		 Oct 2020 6x12% −7%−21% +58%
VSSL
Non-Energy Minerals		 Mar 2025 15x— −6%−40% +7%
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/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 NAHAR POLYFILMS 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (94 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-107.6x₹667 cr8.3%11.0%0.1x
2026-097.7x₹667 cr8.3%11.0%0.1x
2026-087.6x₹704 cr9.0%11.0%0.1x
2026-078.4x₹704 cr9.0%11.0%0.1x
2026-067.9x₹704 cr9.0%11.0%0.1x
2026-058.8x₹693 cr9.0%6.0%0.1x
2026-048.6x₹693 cr9.0%6.0%0.1x
2026-036.9x₹693 cr9.0%6.0%0.1x
2026-0210.0x₹699 cr7.6%6.0%0.1x
2026-019.5x₹699 cr7.6%6.0%0.1x
2025-129.4x₹699 cr7.6%6.0%0.1x
2025-1111.1x₹696 cr7.1%6.0%0.1x
2025-1012.2x₹696 cr7.1%6.0%0.1x
2025-0912.2x₹696 cr7.1%6.0%0.1x
2025-0815.2x₹667 cr5.9%6.0%0.1x
2025-0716.0x₹667 cr5.9%6.0%0.1x
2025-0618.5x₹667 cr5.9%6.0%0.1x
2025-0522.8x₹663 cr4.3%0.0%0.2x
2025-0414.8x₹663 cr4.3%0.0%0.2x
2025-0314.2x₹663 cr4.3%0.0%0.2x
2025-0221.4x₹644 cr2.6%0.0%0.2x
2025-0125.8x₹644 cr2.6%0.0%0.2x
2024-1229.9x₹644 cr2.6%0.0%0.2x
2024-1142.1x₹612 cr2.0%0.0%0.2x
2024-1034.6x₹612 cr2.0%0.0%0.2x
2024-0937.2x₹612 cr2.0%0.0%0.2x
2024-08114.5x₹600 cr0.8%0.0%0.2x
2024-07140.0x₹600 cr0.8%0.0%0.2x
2024-06104.9x₹600 cr0.8%0.0%0.2x
2024-0510.6x₹723 cr5.5%5.0%0.2x
2024-0411.6x₹723 cr5.5%5.0%0.2x
2024-0310.2x₹723 cr5.5%5.0%0.2x
2024-0211.1x₹723 cr5.5%5.0%0.2x
2024-0113.5x₹723 cr5.5%5.0%0.2x
2023-1212.8x₹723 cr5.5%5.0%0.2x
2023-1113.0x₹723 cr5.5%5.0%0.2x
2023-1012.5x₹723 cr5.5%5.0%0.2x
2023-0914.3x₹723 cr5.5%5.0%0.2x
2023-0814.3x₹723 cr5.5%5.0%0.2x
2023-0713.1x₹723 cr5.5%5.0%0.2x
2023-0614.0x₹723 cr5.5%5.0%0.2x
2023-056.2x₹489 cr10.7%14.0%0.2x
2023-046.9x₹489 cr10.7%14.0%0.2x
2023-035.8x₹489 cr10.7%14.0%0.2x
2023-025.4x₹489 cr10.7%14.0%0.2x
2023-016.4x₹489 cr10.7%14.0%0.2x
2022-126.7x₹489 cr10.7%14.0%0.2x
2022-117.2x₹489 cr10.7%14.0%0.2x
2022-107.7x₹489 cr10.7%14.0%0.2x
2022-098.5x₹489 cr10.7%14.0%0.2x
2022-088.9x₹489 cr10.7%14.0%0.2x
2022-079.0x₹489 cr10.7%14.0%0.2x
2022-069.6x₹489 cr10.7%14.0%0.2x
2022-0515.6x₹303 cr12.0%14.0%0.1x
2022-0419.9x₹303 cr12.0%14.0%0.1x
2022-0322.1x₹303 cr12.0%14.0%0.1x
2022-0216.2x₹303 cr12.0%14.0%0.1x
2022-0113.5x₹303 cr12.0%14.0%0.1x
2021-1211.0x₹303 cr12.0%14.0%0.1x
2021-118.9x₹303 cr12.0%14.0%0.1x
2021-109.2x₹303 cr12.0%14.0%0.1x
2021-099.6x₹303 cr12.0%14.0%0.1x
2021-089.0x₹303 cr12.0%14.0%0.1x
2021-078.8x₹303 cr12.0%14.0%0.1x
2021-066.8x₹303 cr12.0%14.0%0.1x
2021-0510.4x₹277 cr9.5%10.0%0.0x
2021-048.6x₹277 cr9.5%10.0%0.0x
2021-037.3x₹277 cr9.5%10.0%0.0x
2021-025.7x₹277 cr9.5%10.0%0.0x
2021-015.9x₹277 cr9.5%10.0%0.0x
2020-126.3x₹277 cr9.5%10.0%0.0x
2020-115.7x₹277 cr9.5%10.0%0.0x
2020-105.2x₹277 cr9.5%10.0%0.0x
2020-094.3x₹277 cr9.5%10.0%0.0x
2020-084.1x₹277 cr9.5%10.0%0.0x
2020-074.0x₹277 cr9.5%10.0%0.0x
2020-064.3x₹277 cr9.5%10.0%0.0x
2020-058.2x₹266 cr2.6%3.0%0.0x
2020-047.0x₹266 cr2.6%3.0%0.0x
2020-035.2x₹266 cr2.6%3.0%0.0x
2020-027.4x₹266 cr2.6%3.0%0.0x
2020-017.5x₹266 cr2.6%3.0%0.0x
2019-126.6x₹266 cr2.6%3.0%0.0x
2019-116.8x₹266 cr2.6%3.0%0.0x
2019-107.1x₹266 cr2.6%3.0%0.0x
2019-096.9x₹266 cr2.6%3.0%0.0x
2019-086.4x₹266 cr2.6%3.0%0.0x
2019-075.4x₹266 cr2.6%3.0%0.0x
2019-067.0x₹266 cr2.6%3.0%0.0x
2019-057.9x₹252 cr2.4%2.0%0.0x
2019-047.3x₹252 cr2.4%2.0%0.0x
2019-038.2x₹252 cr2.4%2.0%0.0x
2019-027.9x₹252 cr2.4%2.0%0.0x
2019-017.9x₹252 cr2.4%2.0%0.0x

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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