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NESCO LIMITED (NESCO)

Producer Manufacturing · Industrial Machinery · 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.82 / 100
Profitability 83Growth 62Balance 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.55 / 100
Price 68Earnings 26FII/DII 70

Passes these screensValue PickDebt-light & profitableConsistent compounders

Compare withWELSPUN CORPVOLTASTHERMAX

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,056.5 latest close · −6.1% over the last 90 sessions

₹1,000₹1,100Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,000₹1,100Jul 3Sep 4Nov 9

₹1,056.5 month-end · −17.7% over 12 months

₹1,000₹1,100₹1,200₹1,300Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,000₹1,100₹1,200₹1,300Nov '25May '26Nov '26

₹1,056.5 month-end · +29.6% over 3 years

₹800₹1,000₹1,200₹1,400Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹800₹1,000₹1,200₹1,400Nov '23May '25Nov '26

₹1,056.5 month-end · +138.9% since Jan '19

₹500₹1,000₹1,500Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000₹1,500Jan '19Dec '22Nov '26

52-week range ₹933.40 to ₹1369.10 · 1-year volatility 31.2%

Was the rally earned?

-18%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 3 points, but investors now pay less per rupee of profit (P/E 22.5x to 17.9x), which took 21 points back.
  • The share count barely moved.
Net profit growth: +3 pts. Points of the price return explained by net profit growing (or shrinking).+3 ptsNet profit growthP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −18%−18%Share priceNet profit growth: +3 pts. Points of the price return explained by net profit growing (or shrinking).+3ProfitP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −18%−18%Share price
Net profit growth+3 ptsNet profit rose about 4%, which lifts the price.
P/E change-21 ptsThe P/E fell from 22.5x to 17.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+30%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 41 points, but investors now pay less per rupee of profit (P/E 19.8x to 17.9x), which took 11 points back.
  • The share count barely moved.
Net profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41 ptsNet profit growthP/E change: −11 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−11 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +30%+30%Share priceNet profit growth: +41 pts. Points of the price return explained by net profit growing (or shrinking).+41ProfitP/E change: −11 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−11P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +30%+30%Share price
Net profit growth+41 ptsNet profit rose about 43%, which lifts the price.
P/E change-11 ptsThe P/E fell from 19.8x to 17.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+79%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 120 points, but investors now pay less per rupee of profit (P/E 24.1x to 17.9x), which took 41 points back.
  • The share count barely moved.
Net profit growth: +120 pts. Points of the price return explained by net profit growing (or shrinking).+120 ptsNet profit growthP/E change: −41 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−41 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +79%+79%Share priceNet profit growth: +120 pts. Points of the price return explained by net profit growing (or shrinking).+120ProfitP/E change: −41 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−41P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +79%+79%Share price
Net profit growth+120 ptsNet profit rose about 142%, which lifts the price.
P/E change-41 ptsThe P/E fell from 24.1x to 17.9x, which lowers the price.
Share count change0 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 WELSPUN CORP

How rough has the ride been?

Maximum drawdown-49.9%recovered 2023-11
1-year volatility31.2%annualised
Beta vs sector index0.783-year daily, correlation 0.48
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−49.9% 0%−20%−40%2020202220242026−49.9%
Largest drawdowns

-49.9% (2020-02 peak to 2020-05 low, recovered 2023-11)

-39.7% (2025-09 peak to 2026-10 low, not yet recovered)

-18.3% (2024-12 peak to 2025-02 low, recovered 2025-06)

Most recent volume spikes

2026-09-29: 5.3x the 50-day median, price -4.2% that day

2026-09-08: 6.6x the 50-day median, price +3.8% that day

2026-08-28: 6.8x the 50-day median, price +3.1% 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?

17.9xP/E todayWithin its usual range
Against its own history32nd percentile
CheapestMedian 20.1xDearest

Usual range 16.4x to 24.1x since 2019-01.

Against Producer Manufacturing17.9x vs 29.6x
This company
17.9x
Sector median
29.6x

40% below the Producer Manufacturing median.

10.6x21.7x32.9x44.0xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.6x21.7x32.9x44.0xJan '19Sep '21May '24Nov '26
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

  • ROCE66th▼ 3 pts vs a year ago
  • Op. margin100thflat vs a year ago
  • Revenue growth67thflat vs a year ago
  • EPS growth44th▼ 18 pts vs a year ago
  • Debt/equity ↓71st▼ 25 pts vs a year ago
  • Cash cycle ↓93rdflat vs a year ago
  • P/E ↓76th▲ 7 pts vs a year ago
  • 12M momentum33rd▼ 54 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?

~16%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 22.8x, a holder earning 12%/yr needs earnings to grow about 16.0%/yr for 10 years, then trade at 15x.

Delivered11.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+4.3 ptsimplied minus delivered
Rank441stmost demanding of 856

Over time

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

0%11%22% Jan 2019Nov 2026 0%11%22% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x17.5%18.5%19.6%
15x15.0%16.0%17.1%
20x11.9%12.9%13.9%

Drag a slider to test other assumptions

Implied: 16.0%/yr

Looking back

  • Jan 2020Price implied 19%/yr; EPS has since grown 13%/yr (7.0 yrs)
  • Jan 2021Price implied 13%/yr; EPS has since grown 10%/yr (6.0 yrs)
  • Jan 2022Price implied 16%/yr; EPS has since grown 19%/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
₹1056.50
P/E
17.9x
ROCE
19.0%
Market Cap
₹7447 cr
Revenue (TTM)
₹951 cr
P/S
7.8x
P/B
2.5x
ROE
13.9%
Operating Margin
48.0%
Debt / Equity
0.1x
Promoter Holding
68.5%
12M Momentum
-17.7%

52-week range

₹933.40₹1369.10
28% of the way from its 52-week low to its high

Price risk

1Y volatility
31.2%
Beta vs sector
1-year daily
0.74

Balance sheet & cash

Interest cover
operating profit ÷ interest
19.5x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.97x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance22%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 22.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate21%Within range

Median quarterly effective tax rate over about 2.5 years: 21.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.97xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.97x (cash from operations ₹1,114 cr, net profit ₹1,151 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 history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (8 vs 8). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress65% of fixed assetsWithin range

Capital work-in-progress is 65% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-50 days / 2 yrsWithin range

Days payable changed by -50 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, FIIs added 1.5 pts.
  • The number of shareholders rose from 36,251 to 46,381 (+28%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters68.5%68.5%0.0 pts
FIIs2.8%4.3%+1.5 pts
DIIs4.1%4.1%0.0 pts
Public and others24.6%23.0%-1.6 pts

Number of shareholders

46,381shareholders+28% since Sep '23
36k40k44k47k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 36,251
Dec '23: 45,871
Mar '24: 46,796
Jun '24: 45,047
Sep '24: 44,222
Dec '24: 43,448
Mar '25: 43,897
Jun '25: 43,336
Sep '25: 44,938
Dec '25: 47,254
Mar '26: 46,130
Jun '26: 46,381
 36k40k44k47k Sep '23Sep '24Sep '25Jun '26
Sep '23: 36,251
Dec '23: 45,871
Mar '24: 46,796
Jun '24: 45,047
Sep '24: 44,222
Dec '24: 43,448
Mar '25: 43,897
Jun '25: 43,336
Sep '25: 44,938
Dec '25: 47,254
Mar '26: 46,130
Jun '26: 46,381

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

+2.8%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 NESCO 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 +24% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+7.1%, 80% range −6.1% to +12.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%+80%
TATVA · Feb 2023: −57.6% vs market
INTELLECT · Apr 2022: −42.8% vs market
LAOPALA · Oct 2023: −41.9% vs market
KKCL · May 2024: −39.4% vs market
VINATIORGA · Oct 2025: −36.5% vs market
XCHANGING · Oct 2025: −36.2% vs market
WONDERLA · Oct 2024: −35.9% vs market
KSCL · Oct 2020: −35.6% vs market
TTKPRESTIG · Mar 2023: −35.4% vs market
ROLEXRINGS · Jan 2024: −30.7% vs market
SJVN · Sep 2020: −21.6% vs market
GPPL · Aug 2020: −20.1% vs market
ADVENZYMES · Jun 2024: −17.5% vs market
AIAENG · Apr 2024: −17.2% vs market
INDIAMART · May 2025: −15.5% vs market
TECHNOE · Jun 2021: −14.2% vs market
GALAXYSURF · Feb 2022: −14.1% vs market
STARCEMENT · May 2020: −13.6% vs market
EIHOTEL · Jun 2025: −13.4% vs market
FLUOROCHEM · Jan 2024: −10.2% vs market
ICRA · Dec 2024: −9.9% vs market
COCHINSHIP · Apr 2020: −7.6% vs market
MAYURUNIQ · Aug 2021: −4.3% vs market
GARFIBRES · Feb 2022: +0.4% vs market
GREAVESCOT · Mar 2020: +2.1% vs market
CYIENT · Jan 2020: +3.6% vs market
FINPIPE · Aug 2020: +4.4% vs market
OBEROIRLTY · Jul 2025: +6.4% vs market
CENTURYPLY · Mar 2024: +6.9% vs market
HAPPYFORGE · Dec 2024: +9.0% vs market
JBCHEPHARM · Feb 2024: +11.7% vs market
CUMMINSIND · Feb 2020: +13.3% vs market
MIDHANI · May 2022: +13.7% vs market
NATCOPHARM · Jun 2023: +14.9% vs market
RADICO · Jun 2021: +14.9% vs market
SAREGAMA · Feb 2024: +14.9% vs market
ECLERX · Mar 2023: +23.5% vs market
ERIS · Jan 2024: +24.0% vs market
KPRMILL · May 2024: +39.2% vs market
SJS · Feb 2024: +39.9% vs market
CAPLIPOINT · Jun 2024: +40.8% vs market
MPHASIS · Jan 2020: +41.7% vs market
NEWGEN · Feb 2021: +42.4% vs market
CCL · Jan 2021: +44.7% vs market
AFFLE · May 2024: +45.2% vs market
THYROCARE · Jun 2024: +52.3% vs market
CARBORUNIV · May 2020: +54.5% vs market
KIMS · Apr 2024: +58.9% vs market
CARERATING · Jun 2024: +64.8% vs market
GODFRYPHLP · Mar 2024: +111.4% vs market
Similar setups +2.8%All companies −4.3%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
+2.8%
All companies' median
−4.3%
Beat the market
54% vs 45%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GPPL
Transportation		 Aug 2020 11x17% +2%−17% −20%
NATCOPHARM
Health Technology		 Jun 2023 19x18% +7%−8% +15%
INDIAMART
Retail Trade		 May 2025 30x24% −4%−26% −16%
ADVENZYMES
Consumer Non-Durables		 Jun 2024 32x15% +37%−8% −18%
CARERATING
Commercial Services		 Jun 2024 32x21% +51%−12% +65%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
EIHOTEL
Consumer Services		 Jun 2025 31x23% −14%−16% −13%
STARCEMENT
Producer Manufacturing		 May 2020 10x18% −39%−43% −14%
AIAENG
Producer Manufacturing		 Apr 2024 34x25% +40%−15% −17%
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 revenue growth. 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 NESCO 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.

SANOFI CONSUMER HEALTHCARE INDSANOFICONR
Consumer Non-Durables
68%similar
revenuevolatility
CAPLIN POINT LABORATORIESCAPLIPOINT
Health Technology
66%similar
debt/equityoperating margin
INDIAN ENERGY EXCHANGEIEX
Finance
65%similar
volatilityP/E
KEWAL KIRAN CLOTHINGKKCL
Consumer Non-Durables
65%similar
P/Evolatility
UTI ASSET MANAGEMENT COMUTIAMC
Finance
65%similar
operating marginmarket cap
PIX TRANSMISSIONSPIXTRANS
Producer Manufacturing
59%similar
P/Evolatility
STAR CEMENTSTARCEMENT
Producer Manufacturing
55%similar
market capEPS growth
TECHNOCRAFT INDUSTRIES (INDIA)TIIL
Producer Manufacturing
50%similar
P/Emarket cap

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

What changed?

30 events since Sep '22

  1. OctPriceFell 40% from the Sep 2025 peak to the Oct 2026 low.
  2. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  3. AugPriceVolume reached 6.8x its 50-day median on 2026-08-28; price +3.1% that day.
  4. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  5. MarPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  6. NovPriceVolume reached 11.6x its 50-day median on 2025-11-07; price +8.9% that day.
  7. SepPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  8. JulValuationP/E crossed above the 90th percentile of its own history to date (25.9x).
Show 22 earlier events
  1. JulPriceVolume reached 13.1x its 50-day median on 2025-07-30; price +4.5% that day.
  2. JunPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  3. JunPriceVolume reached 8.6x its 50-day median on 2025-06-10; price +7.0% that day.
  4. FebPriceVolume reached 5.6x its 50-day median on 2025-02-18; price -2.7% that day.
  5. DecPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  6. NovPriceVolume reached 5.9x its 50-day median on 2024-11-25; price +5.2% that day.
  7. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  8. SepPriceVolume reached 12.2x its 50-day median on 2024-09-06; price +4.0% that day.
  9. JunResultsRevenue (TTM) reached a new high of ₹678 cr.
  10. JunPriceVolume reached 14.7x its 50-day median on 2024-06-13; price +4.6% that day.
  11. MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on ROCE (from the top quartile).
  12. FebPriceVolume reached 5.1x its 50-day median on 2024-02-16; price +1.5% that day.
  13. NovPriceRegained the 2020-02 peak, 42 months after the low.
  14. NovPriceVolume reached 71.5x its 50-day median on 2023-11-10; price +11.9% that day.
  15. OctValuationP/E fell below the 10th percentile of its own history to date (15.7x).
  16. JulPriceVolume reached 8.4x its 50-day median on 2023-07-28; price +3.7% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹546 cr.
  18. JunValuationP/E fell below the 10th percentile of its own history to date (15.3x).
  19. JunPeer rankMoved into the top quartile of Producer Manufacturing on ROCE (from the 2nd quartile).
  20. JunPriceVolume reached 5.9x its 50-day median on 2023-06-06; price +4.1% that day.
  21. NovPriceVolume reached 18.9x its 50-day median on 2022-11-10; price +5.9% that day.
  22. SepPriceVolume reached 114.5x its 50-day median on 2022-09-09; price +7.7% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1117.9x₹951 cr13.9%19.0%0.1x
2026-1016.8x₹951 cr13.9%19.0%0.1x
2026-0917.7x₹951 cr13.9%19.0%0.1x
2026-0817.8x₹932 cr13.8%19.0%0.1x
2026-0718.2x₹932 cr13.8%19.0%0.1x
2026-0618.4x₹932 cr13.8%19.0%0.1x
2026-0520.3x₹872 cr15.6%21.0%0.0x
2026-0421.2x₹872 cr15.6%21.0%0.0x
2026-0317.5x₹872 cr15.6%21.0%0.0x
2026-0219.1x₹831 cr15.7%21.0%0.0x
2026-0119.4x₹831 cr15.7%21.0%0.0x
2025-1220.9x₹831 cr15.7%21.0%0.0x
2025-1122.5x₹784 cr15.3%21.0%0.0x
2025-1024.0x₹784 cr15.3%21.0%0.0x
2025-0923.0x₹784 cr15.3%21.0%0.0x
2025-0826.4x₹732 cr14.3%21.0%0.0x
2025-0725.9x₹732 cr14.3%21.0%0.0x
2025-0621.9x₹732 cr14.3%21.0%0.0x
2025-0516.7x₹729 cr17.1%22.0%0.0x
2025-0417.0x₹729 cr17.1%22.0%0.0x
2025-0316.4x₹729 cr17.1%22.0%0.0x
2025-0216.3x₹700 cr16.4%22.0%0.0x
2025-0118.0x₹700 cr16.4%22.0%0.0x
2024-1218.1x₹700 cr16.4%22.0%0.0x
2024-1120.9x₹683 cr15.5%22.0%0.0x
2024-1019.6x₹683 cr15.5%22.0%0.0x
2024-0918.6x₹683 cr15.5%22.0%0.0x
2024-0818.4x₹678 cr15.8%22.0%0.0x
2024-0718.0x₹678 cr15.8%22.0%0.0x
2024-0617.9x₹678 cr15.8%22.0%0.0x
2024-0520.6x₹546 cr14.8%22.0%0.0x
2024-0421.0x₹546 cr14.8%22.0%0.0x
2024-0320.1x₹546 cr14.8%22.0%0.0x
2024-0220.5x₹546 cr14.8%22.0%0.0x
2024-0120.8x₹546 cr14.8%22.0%0.0x
2023-1221.4x₹546 cr14.8%22.0%0.0x
2023-1119.8x₹546 cr14.8%22.0%0.0x
2023-1015.7x₹546 cr14.8%22.0%0.0x
2023-0916.6x₹546 cr14.8%22.0%0.0x
2023-0817.5x₹546 cr14.8%22.0%0.0x
2023-0717.0x₹546 cr14.8%22.0%0.0x
2023-0615.3x₹546 cr14.8%22.0%0.0x
2023-0522.5x₹337 cr11.1%15.0%0.0x
2023-0420.6x₹337 cr11.1%15.0%0.0x
2023-0319.3x₹337 cr11.1%15.0%0.0x
2023-0219.3x₹337 cr11.1%15.0%0.0x
2023-0121.6x₹337 cr11.1%15.0%0.0x
2022-1222.7x₹337 cr11.1%15.0%0.0x
2022-1123.8x₹337 cr11.1%15.0%0.0x
2022-1021.5x₹337 cr11.1%15.0%0.0x
2022-0921.1x₹337 cr11.1%15.0%0.0x
2022-0821.4x₹337 cr11.1%15.0%0.0x
2022-0722.1x₹337 cr11.1%15.0%0.0x
2022-0620.5x₹337 cr11.1%15.0%0.0x
2022-0522.1x₹291 cr11.2%16.0%0.0x
2022-0423.5x₹291 cr11.2%16.0%0.0x
2022-0322.6x₹291 cr11.2%16.0%0.0x
2022-0222.8x₹291 cr11.2%16.0%0.0x
2022-0123.7x₹291 cr11.2%16.0%0.0x
2021-1223.8x₹291 cr11.2%16.0%0.0x

Older months are in the live observatory.

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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