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NEULAND LABORATORIES LIMITED (NEULANDLAB)

Health Technology · Pharmaceuticals: Major · 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.87 / 100
Profitability 90Growth 90Balance sheet 79
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.78 / 100
Price 43Earnings 95FII/DII 96

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withSUN PHARMACEUTICAL INDUSTRIESDIVIS LABORATORIESTORRENT PHARMACEUTICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹20,322 latest close · +7.3% over the last 90 sessions

₹18,000₹20,000₹22,000₹24,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹18,000₹20,000₹22,000₹24,000Jul 3Sep 4Nov 9

₹20,322 month-end · +17.5% over 12 months

₹15,000₹20,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹15,000₹20,000Nov '25May '26Nov '26

₹20,322 month-end · +271.7% over 3 years

₹10,000₹20,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹10,000₹20,000Nov '23May '25Nov '26

₹20,322 month-end · +3716.3% since Jan '19

₹0₹10,000₹20,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹10,000₹20,000Jan '19Dec '22Nov '26

52-week range ₹11500.00 to ₹24225.00 · 1-year volatility 37.1%

Was the rally earned?

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

Mostly yes, with a catch.

  • Per-share earnings added 113 points, but investors now pay less per rupee of profit (P/E 125.9x to 52.4x), which took 95 points back.
  • The share count barely moved.
Net profit growth: +112 pts. Points of the price return explained by net profit growing (or shrinking).+112 ptsNet profit growthP/E change: −95 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−95 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +18%+18%Share priceNet profit growth: +112 pts. Points of the price return explained by net profit growing (or shrinking).+112ProfitP/E change: −95 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−95P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +18%+18%Share price
Net profit growth+112 ptsNet profit rose about 181%, which lifts the price.
P/E change-95 ptsThe P/E fell from 125.9x to 52.4x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+272%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 230 points to the rise, while the multiple moved less (P/E 42.9x to 52.4x).
  • The share count barely moved.
Net profit growth: +230 pts. Points of the price return explained by net profit growing (or shrinking).+230 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: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +272%+272%Share priceNet profit growth: +230 pts. Points of the price return explained by net profit growing (or shrinking).+230ProfitP/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: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +272%+272%Share price
Net profit growth+230 ptsNet profit rose about 204%, which lifts the price.
P/E change+41 ptsThe P/E rose from 42.9x to 52.4x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+1063%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 789 points to the rise, while the multiple moved less (P/E 27.8x to 52.4x).
  • The share count barely moved.
Net profit growth: +787 pts. Points of the price return explained by net profit growing (or shrinking).+787 ptsNet profit growthP/E change: +275 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+275 ptsP/E changeShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2 ptsShare count changeShare price: +1063%+1063%Share priceNet profit growth: +787 pts. Points of the price return explained by net profit growing (or shrinking).+787ProfitP/E change: +275 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+275P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +1063%+1063%Share price
Net profit growth+787 ptsNet profit rose about 515%, which lifts the price.
P/E change+275 ptsThe P/E rose from 27.8x to 52.4x, which lifts the price.
Share count change+2 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 SUN PHARMACEUTICAL INDUSTRIES

How rough has the ride been?

Maximum drawdown-67.5%recovered 2020-08
1-year volatility37.1%annualised
Beta vs sector index1.173-year daily, correlation 0.35
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−66.7% 0%−20%−40%−60%2020202220242026−66.7%
Largest drawdowns

-67.5% (2019-02 peak to 2020-03 low, recovered 2020-08)

-63.9% (2021-05 peak to 2022-05 low, recovered 2023-05)

-41.2% (2024-12 peak to 2025-03 low, recovered 2025-11)

Most recent volume spikes

2026-08-07: 9.1x the 50-day median, price +6.1% that day

2026-08-06: 26.9x the 50-day median, price +8.0% 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?

52.4xP/E todayWithin its usual range
Against its own history62nd percentile
CheapestMedian 47.3xDearest

Usual range 25.1x to 99.2x since 2019-01.

Against Health Technology52.4x vs 37.0x
This company
52.4x
Sector median
37.0x

42% above the Health Technology median.

16.4x77.5x138.5x199.6xJan '19Aug '20Mar '22Oct '23May '25Nov '2616.4x77.5x138.5x199.6xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianHealth Technology median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianHealth Technology 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 Health Technology is valued

Where does it rank among Health Technology peers?

Each cell is the company's percentile rank among its Health Technology 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

  • ROCE83rd▲ 15 pts vs a year ago
  • Op. margin97th▲ 63 pts vs a year ago
  • Revenue growth94th▲ 88 pts vs a year ago
  • EPS growth95th▲ 82 pts vs a year ago
  • Debt/equity ↓60th▼ 5 pts vs a year ago
  • Cash cycle ↓33rd▼ 10 pts vs a year ago
  • P/E ↓28th▲ 23 pts vs a year ago
  • 12M momentum61st▼ 14 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 Health Technology sector page Watch it move against Health Technology in the Observatory

What is the price implying?

~37%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 113.4x, a holder earning 12%/yr needs earnings to grow about 36.8%/yr for 10 years, then trade at 15x.

Delivered37.1%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−0.4 ptsimplied minus delivered
Rank538thmost demanding of 856

Over time

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

-28%8%43% Jan 2019Nov 2026 -28%8%43% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x38.5%39.8%41.0%
15x35.6%36.8%38.0%
20x31.8%33.0%34.1%

Drag a slider to test other assumptions

Implied: 36.8%/yr

Looking back

  • Jan 2020Price implied 17%/yr; EPS has since grown 56%/yr (7.0 yrs)
  • Jan 2021Price implied 31%/yr; EPS has since grown 68%/yr (6.0 yrs)
  • Jan 2022Price implied 28%/yr; EPS has since grown 35%/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 Health Technology The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹20322.00
P/E
52.4x
ROCE
26.0%
Market Cap
₹26073 cr
Revenue (TTM)
₹2372 cr
P/S
11.0x
P/B
13.9x
ROE
26.5%
Operating Margin
35.0%
Debt / Equity
0.2x
Promoter Holding
32.6%
12M Momentum
17.5%

52-week range

₹11500.00₹24225.00
69% of the way from its 52-week low to its high

Price risk

1Y volatility
37.1%
Beta vs sector
1-year daily
1.25

Balance sheet & cash

Interest cover
operating profit ÷ interest
26.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.00x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance4%Within range

Other income as a share of pre-tax profit (trailing twelve months): 4.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.00xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.00x (cash from operations ₹925 cr, net profit ₹924 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+11 daysWithin range

Debtor days are above the median of the previous three fiscal years by 11 days (98 vs 87). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress18% of fixed assetsWithin range

Capital work-in-progress is 18% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+8 days / 2 yrsWithin range

Days payable changed by +8 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, DIIs added 10.5 pts; FIIs trimmed 1.6 pts.
  • The number of shareholders rose from 27,723 to 44,340 (+60%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters32.8%32.6%-0.2 pts
FIIs22.7%21.1%-1.6 pts
DIIs6.0%16.5%+10.5 pts
Public and others38.1%29.8%-8.3 pts

Number of shareholders

44,340shareholders+60% since Dec '23
28k34k40k46k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 27,723
Mar '24: 28,616
Jun '24: 29,077
Sep '24: 34,567
Dec '24: 39,315
Mar '25: 39,333
Jun '25: 42,419
Sep '25: 44,393
Dec '25: 46,187
Mar '26: 46,304
Jun '26: 44,340
 28k34k40k46k Dec '23Dec '24Dec '25Jun '26
Dec '23: 27,723
Mar '24: 28,616
Jun '24: 29,077
Sep '24: 34,567
Dec '24: 39,315
Mar '25: 39,333
Jun '25: 42,419
Sep '25: 44,393
Dec '25: 46,187
Mar '26: 46,304
Jun '26: 44,340

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

−12.1%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like NEULAND LABORATORIES 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 −28% to −3% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −8.7%, 80% range −18.7% to −5.1%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%
COHANCE · Jul 2025: −59.6% vs market
METROPOLIS · Jun 2021: −50.4% vs market
APLLTD · Oct 2020: −49.5% vs market
POLYMED · Mar 2025: −45.5% vs market
MANYAVAR · Feb 2023: −42.8% vs market
FINEORG · Nov 2022: −40.8% vs market
LUXIND · May 2021: −40.2% vs market
SFL · Mar 2022: −39.8% vs market
KIOCL · Oct 2021: −34.9% vs market
LALPATHLAB · Jun 2021: −34.0% vs market
MTARTECH · Jun 2023: −33.9% vs market
IPCALAB · Nov 2020: −31.3% vs market
VIPIND · Feb 2020: −28.2% vs market
COFORGE · Jul 2021: −27.7% vs market
COCHINSHIP · Sep 2025: −26.9% vs market
SONACOMS · Nov 2024: −26.6% vs market
ADFFOODS · May 2021: −25.5% vs market
EMAMILTD · Jul 2021: −25.2% vs market
MAPMYINDIA · Jun 2024: −25.1% vs market
KIMS · Jul 2023: −24.0% vs market
EIHOTEL · May 2024: −18.5% vs market
BHARATRAS · Sep 2020: −18.0% vs market
AFFLE · Jun 2022: −13.9% vs market
DOMS · May 2025: −12.7% vs market
NEWGEN · Jul 2024: −12.4% vs market
JBCHEPHARM · May 2024: −11.8% vs market
METROBRAND · Jul 2023: −11.4% vs market
GARFIBRES · Jun 2021: −9.1% vs market
SRF · Jan 2022: −8.7% vs market
AIAENG · Jan 2020: −7.6% vs market
CENTURYPLY · Aug 2022: −6.8% vs market
AJANTPHARM · Aug 2020: −5.8% vs market
CARBORUNIV · Jun 2023: −4.9% vs market
VIJAYA · Dec 2024: −4.9% vs market
ASTRAL · Aug 2021: −4.3% vs market
BLS · Feb 2024: −3.5% vs market
TASTYBITE · Aug 2020: −3.0% vs market
KPITTECH · Sep 2023: −2.7% vs market
INDHOTEL · Sep 2025: +0.6% vs market
CRISIL · May 2022: +2.1% vs market
BIKAJI · Aug 2024: +3.9% vs market
HESTERBIO · Apr 2020: +4.1% vs market
SAFARI · Feb 2024: +9.4% vs market
KFINTECH · Sep 2024: +11.6% vs market
LINDEINDIA · Apr 2022: +12.8% vs market
PIIND · Aug 2020: +15.9% vs market
CGPOWER · Apr 2023: +21.4% vs market
SOLARINDS · Apr 2024: +44.5% vs market
PERSISTENT · Dec 2023: +48.7% vs market
SYNGENE · Jan 2020: +51.5% vs market
Similar setups −12.1%All companies −3.4%← 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

Similar setups' median
−12.1%
All companies' median
−3.4%
Beat the market
24% vs 46%

50 past situations · 50 companies · 38 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AFFLE
Technology Services		 Jun 2022 66x28% +23%−29% −14%
POLYMED
Health Technology		 Mar 2025 71x24% +41%−28% −46%
PIIND
Process Industries		 Aug 2020 56x23% +61%−11% +16%
ASTRAL
Producer Manufacturing		 Aug 2021 102x29% +142%−9% −4%
COHANCE
Health Technology		 Jul 2025 52x21% 0%−25% −60%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
IPCALAB
Health Technology		 Nov 2020 45x19% +90%−9% −31%
MTARTECH
Electronic Technology		 Jun 2023 57x22% +51%−4% −34%
MAPMYINDIA
Technology Services		 Jun 2024 93x26% +91%−9% −25%
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: P/E, drawdown from 12-month high and 12-month momentum. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to NEULAND LABORATORIES 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.

NAVIN FLUORINE INTERNATIONAL LNAVINFLUOR
Process Industries
78%similar
operating marginP/E
RADICO KHAITANRADICO
Consumer Non-Durables
72%similar
revenue growthEPS growth
KFIN TECHNOLOGIESKFINTECH
Technology Services
71%similar
operating marginrevenue growth
ANAND RATHI WEALTHANANDRATHI
Finance
65%similar
operating marginEPS growth
COMPUTER AGE MANAGEMENT SERVCAMS
Technology Services
64%similar
operating marginmarket cap
SAI LIFE SCIENCESSAILIFE
Health Technology
76%similar
promoter holdingrevenue
MARKSANS PHARMAMARKSANS
Health Technology
61%similar
debt/equityrevenue
IPCA LABORATORIESIPCALAB
Health Technology
59%similar
EPS growthmarket cap

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

What changed?

30 events since May '23

  1. AugPriceVolume reached 26.9x its 50-day median on 2026-08-06; price +8.0% that day.
  2. JunResultsYear-on-year EPS growth turned positive.
  3. JunPriceRegained the 2025-11 peak, 3 months after the low.
  4. JunPeer rankMoved into the top quartile of Health Technology on ROCE (from the 2nd quartile).
  5. MayPriceVolume reached 13.4x its 50-day median on 2026-05-13; price -3.0% that day.
  6. AprValuationP/E crossed above the 90th percentile of its own history to date (107.5x).
  7. MarPriceFell 36% from the Nov 2025 peak to the Mar 2026 low.
  8. MarPeer rankSlipped to the 2nd quartile of Health Technology on operating margin (from the top quartile).
Show 22 earlier events
  1. FebPriceVolume reached 6.5x its 50-day median on 2026-02-23; price +8.0% that day.
  2. DecPeer rankMoved into the top quartile of Health Technology on operating margin (from the 3rd quartile).
  3. NovPriceRegained the 2024-12 peak, 8 months after the low.
  4. NovPriceVolume reached 11.7x its 50-day median on 2025-11-10; price +1.5% that day.
  5. SepValuationP/E crossed above the 90th percentile of its own history to date (106.4x).
  6. JulPriceVolume reached 30.4x its 50-day median on 2025-07-14; price +18.3% that day.
  7. JunResultsYear-on-year EPS growth turned negative.
  8. JunPeer rankSlipped to the 2nd quartile of Health Technology on ROCE (from the top quartile).
  9. JunPriceVolume reached 14.9x its 50-day median on 2025-06-06; price +11.0% that day.
  10. MarPriceFell 41% from the Dec 2024 peak to the Mar 2025 low.
  11. DecPeer rankSlipped to the 2nd quartile of Health Technology on operating margin (from the top quartile).
  12. DecPriceVolume reached 25.4x its 50-day median on 2024-12-12; price -5.7% that day.
  13. SepInstitutionsFII + DII holding rose 3.4 pts over 2 quarters to 32.1%.
  14. AugPriceVolume reached 16.6x its 50-day median on 2024-08-02; price +18.1% that day.
  15. JunResultsRevenue (TTM) reached a new high of ₹1,559 cr.
  16. MayPriceVolume reached 6.4x its 50-day median on 2024-05-13; price -15.1% that day.
  17. MarPriceVolume reached 8.2x its 50-day median on 2024-03-15; price +2.8% that day.
  18. NovPriceVolume reached 10.2x its 50-day median on 2023-11-07; price +14.2% that day.
  19. JunResultsYear-on-year EPS growth turned positive.
  20. JunValuationP/E fell below the 10th percentile of its own history to date (22.2x).
  21. JunPeer rankMoved into the top quartile of Health Technology on ROCE (from the 3rd quartile).
  22. MayPriceRegained the 2021-05 peak, 12 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1152.4x₹2372 cr26.5%26.0%0.2x
2026-1050.8x₹2372 cr26.6%26.0%0.2x
2026-0955.0x₹2372 cr26.6%26.0%0.2x
2026-0881.1x₹2023 cr19.5%26.0%0.2x
2026-0767.1x₹2023 cr19.5%26.0%0.2x
2026-0665.5x₹2023 cr19.5%26.0%0.2x
2026-05122.4x₹1575 cr11.8%19.0%0.1x
2026-04107.5x₹1575 cr11.8%19.0%0.1x
2026-0386.1x₹1575 cr11.8%19.0%0.1x
2026-0268.5x₹1533 cr15.8%19.0%0.1x
2026-0170.8x₹1533 cr15.8%19.0%0.1x
2025-1281.1x₹1533 cr15.8%19.0%0.1x
2025-11125.9x₹1330 cr11.6%19.0%0.1x
2025-10120.0x₹1330 cr11.6%19.0%0.1x
2025-09106.4x₹1330 cr11.6%19.0%0.1x
2025-0866.4x₹1477 cr17.1%19.0%0.1x
2025-0765.5x₹1477 cr17.1%19.0%0.1x
2025-0659.2x₹1477 cr17.1%19.0%0.1x
2025-0549.2x₹1534 cr23.5%33.0%0.1x
2025-0451.3x₹1534 cr23.5%33.0%0.1x
2025-0351.6x₹1534 cr23.5%33.0%0.1x
2025-0248.7x₹1529 cr21.8%33.0%0.1x
2025-0164.8x₹1529 cr21.8%33.0%0.1x
2024-1263.0x₹1529 cr21.8%33.0%0.1x
2024-1163.8x₹1636 cr26.2%33.0%0.1x
2024-1055.8x₹1636 cr26.2%33.0%0.1x
2024-0947.3x₹1636 cr26.2%33.0%0.1x
2024-0853.5x₹1559 cr23.4%33.0%0.1x
2024-0737.4x₹1559 cr23.4%33.0%0.1x
2024-0632.0x₹1559 cr23.4%33.0%0.1x
2024-0547.4x₹1191 cr16.5%21.0%0.1x
2024-0459.6x₹1191 cr16.5%21.0%0.1x
2024-0349.6x₹1191 cr16.5%21.0%0.1x
2024-0256.2x₹1191 cr16.5%21.0%0.1x
2024-0150.3x₹1191 cr16.5%21.0%0.1x
2023-1241.5x₹1191 cr16.5%21.0%0.1x
2023-1142.9x₹1191 cr16.5%21.0%0.1x
2023-1030.4x₹1191 cr16.5%21.0%0.1x
2023-0928.9x₹1191 cr16.5%21.0%0.1x
2023-0830.4x₹1191 cr16.5%21.0%0.1x
2023-0727.3x₹1191 cr16.5%21.0%0.1x
2023-0622.2x₹1191 cr16.5%21.0%0.1x
2023-0555.2x₹951 cr7.6%10.0%0.3x
2023-0443.0x₹951 cr7.6%10.0%0.3x
2023-0336.3x₹951 cr7.6%10.0%0.3x
2023-0232.4x₹951 cr7.6%10.0%0.3x
2023-0129.8x₹951 cr7.6%10.0%0.3x
2022-1233.5x₹951 cr7.6%10.0%0.3x
2022-1135.1x₹951 cr7.6%10.0%0.3x
2022-1029.9x₹951 cr7.6%10.0%0.3x
2022-0927.4x₹951 cr7.6%10.0%0.3x
2022-0825.5x₹951 cr7.6%10.0%0.3x
2022-0726.2x₹951 cr7.6%10.0%0.3x
2022-0623.7x₹951 cr7.6%10.0%0.3x
2022-0517.1x₹937 cr10.3%11.0%0.2x
2022-0421.1x₹937 cr10.3%11.0%0.2x
2022-0316.4x₹937 cr10.3%11.0%0.2x
2022-0216.9x₹937 cr10.3%11.0%0.2x
2022-0123.5x₹937 cr10.3%11.0%0.2x
2021-1224.6x₹937 cr10.3%11.0%0.2x

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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