NOIDA TOLL BRIDGE COMPANY LTD (NOIDATOLL): Financials & Fundamentals History

Share Price

₹3.40

P/E

2.3x

ROCE

162.0%

Market Cap

₹63 cr

Revenue (TTM)

₹44 cr

P/S

1.4x

Operating Margin

36.1%

Promoter Holding

26.4%

12M Momentum

-25.3%

52-week range

₹2.87₹7.43

12% of the way from its 52-week low to its high

Price risk

1Y volatility

56.9%

Beta vs sector

1-year daily

0.79

Balance sheet & cash

Debt service

no meaningful debt

Cash from profit, 3Y

operating cash flow ÷ net profit

2.40x

Share count, 1Y

unchanged

What is the price implying?

~-7%annual earnings growth implied by the price

At a P/E of 2.3x, the price would imply about −7.3%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

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

What prices imply across Commercial Services The market-wide Expectations lists

What changed?

Sep '26Moved into the top quartile of Commercial Services on operating margin (from the 2nd quartile).
Jun '26Moved into the top quartile of Commercial Services on ROCE (from the bottom quartile).
Mar '26EPS (TTM) turned positive.
Mar '25Fell 88% from the Dec 2024 peak to the Mar 2025 low.
Sep '24Revenue (TTM) reached a new high of ₹28 cr.
Sep '24Regained the 2023-11 peak, 6 months after the low.
Mar '24Fell 52% from the Nov 2023 peak to the Mar 2024 low.
Nov '23Regained the 2022-09 peak, 4 months after the low.

Show 10 earlier events

Jul '23Fell 34% from the Sep 2022 peak to the Jul 2023 low.
Sep '22Regained the 2022-01 peak, 3 months after the low.
Jun '22Fell 42% from the Jan 2022 peak to the Jun 2022 low.
Oct '21Regained the 2021-03 peak, 2 months after the low.
Aug '21Fell 36% from the Mar 2021 peak to the Aug 2021 low.
Mar '21Regained the 2020-11 peak, 4 months after the low.
Nov '20Regained the 2019-01 peak, 8 months after the low.
Nov '20Fell 30% from the Nov 2020 peak to the Nov 2020 low.
Jun '20Revenue (TTM) reached a new high of ₹25 cr.
Mar '20Fell 69% from the Jan 2019 peak to the Mar 2020 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

Are profits backed by cash?

3 of 5 checks are within range, 2 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance59%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 59.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate0%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 0.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion—Not enough data

Not enough reported data to compute this.

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+11 daysWithin range

Debtor days are above the median of the previous three fiscal years by 11 days (26 vs 15). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

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, institutional and promoter holdings were broadly unchanged.
The number of shareholders rose from 55,727 to 60,516 (+9%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters26.4%26.4%0.0 pts

FIIs0.0%0.0%0.0 pts

DIIs0.7%0.6%-0.1 pts

Public and others67.5%67.7%+0.1 pts

Number of shareholders

60,516shareholders+9% since Dec '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

How rough has the ride been?

Maximum drawdown-88.5%not yet recovered

1-year volatility56.9%annualised

Monthly share price

Last 90 trading days

Drawdown from peak

Largest drawdowns

-88.5% (2024-12 peak to 2025-03 low, not yet recovered)

-69.2% (2019-01 peak to 2020-03 low, recovered 2020-11)

-51.6% (2023-11 peak to 2024-03 low, recovered 2024-09)

Where does it rank among Commercial Services peers?

Each cell is the company's percentile rank among its Commercial Services 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

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 Commercial Services sector page Watch it move against Commercial Services in the Observatory

What happened next to similar setups

+2.2%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 NOIDA TOLL BRIDGE COMPANY LTD today on valuation, return on capital, margins, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −13% to +46% vs the market, against 0% for all non-financial companies in the same months.
The gap against the base rate (+2.2%, 80% range −5.9% to +9.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 6 beyond the range shown, drawn at the edge

Similar setups' median

+2.2%

All companies' median

Beat the market

56% vs 50%

50 past situations · 50 companies · 40 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
TRF Producer Manufacturing	Aug 2023	3x	188%	+32%	−38%	+64%
NAVKARCORP Transportation	Mar 2022	5x	—	+2%	−41%	+75%
DCM Technology Services	Jul 2022	3x	92%	−18%	−68%	+59%
WANBURY Health Technology	Oct 2022	3x	46%	+3%	−41%	+27%
ORIENTCER Non-Energy Minerals	May 2021	6x	—	+94%	−15%	+13%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
GLOBAL Commercial Services	Aug 2024	12x	58%	+10%	−40%	−13%
PRAKASH Non-Energy Minerals	Apr 2020	1x	—	−53%	−63%	+56%
GROBTEA Consumer Non-Durables	Sep 2021	4x	42%	+83%	−29%	−3%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and volatility. Not used (unavailable for this company): debt/equity and interest cover. 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 NOIDA TOLL BRIDGE COMPANY 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 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)

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-10	2.3x	₹44 cr	—	162.0%	—
2026-09	2.5x	₹44 cr	—	162.0%	—
2026-08	2.9x	₹43 cr	—	162.0%	—
2026-07	3.0x	₹43 cr	—	162.0%	—
2026-06	3.3x	₹43 cr	—	162.0%	—
2026-05	4.0x	₹42 cr	—	-9.0%	—
2026-04	2.6x	₹42 cr	—	-9.0%	—
2026-03	2.0x	₹42 cr	—	-9.0%	—
2026-02	—	₹41 cr	—	-9.0%	—
2026-01	—	₹41 cr	—	-9.0%	—
2025-12	—	₹41 cr	—	-9.0%	—
2025-11	—	₹41 cr	—	-9.0%	—
2025-10	—	₹41 cr	—	-9.0%	—
2025-09	—	₹41 cr	—	-9.0%	—
2025-08	—	₹40 cr	—	-9.0%	—
2025-07	—	₹40 cr	—	-9.0%	—
2025-06	—	₹40 cr	—	-9.0%	—
2025-05	—	₹40 cr	-124.3%	-11.0%	0.3x
2025-04	—	₹40 cr	-124.3%	-11.0%	0.3x
2025-03	—	₹40 cr	-124.3%	-11.0%	0.3x
2025-02	—	₹34 cr	-12.1%	-11.0%	0.3x
2025-01	—	₹34 cr	-12.1%	-11.0%	0.3x
2024-12	—	₹34 cr	-12.1%	-11.0%	0.3x
2024-11	—	₹28 cr	-13.6%	-11.0%	0.3x
2024-10	—	₹28 cr	-13.6%	-11.0%	0.3x
2024-09	—	₹28 cr	-13.6%	-11.0%	0.3x
2024-08	—	₹21 cr	-15.5%	-11.0%	0.3x
2024-07	—	₹21 cr	-15.5%	-11.0%	0.3x
2024-06	—	₹21 cr	-15.5%	-11.0%	0.3x
2024-05	—	₹24 cr	-14.8%	-11.0%	0.3x
2024-04	—	₹24 cr	-14.8%	-11.0%	0.3x
2024-03	—	₹24 cr	-14.8%	-11.0%	0.3x
2024-02	—	₹24 cr	-14.8%	-11.0%	0.3x
2024-01	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-12	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-11	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-10	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-09	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-08	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-07	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-06	—	₹24 cr	-14.8%	-11.0%	0.3x
2023-05	—	₹16 cr	-15.1%	-11.0%	0.2x
2023-04	—	₹16 cr	-15.1%	-11.0%	0.2x
2023-03	—	₹16 cr	-15.1%	-11.0%	0.2x
2023-02	—	₹16 cr	-15.1%	-11.0%	0.2x
2023-01	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-12	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-11	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-10	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-09	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-08	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-07	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-06	—	₹16 cr	-15.1%	-11.0%	0.2x
2022-05	—	₹13 cr	-12.8%	-10.0%	0.2x
2022-04	—	₹13 cr	-12.8%	-10.0%	0.2x
2022-03	—	₹13 cr	-12.8%	-10.0%	0.2x
2022-02	—	₹13 cr	-12.8%	-10.0%	0.2x
2022-01	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-12	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-11	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-10	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-09	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-08	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-07	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-06	—	₹13 cr	-12.8%	-10.0%	0.2x
2021-05	—	₹25 cr	-8.5%	-7.0%	0.2x
2021-04	—	₹25 cr	-8.5%	-7.0%	0.2x
2021-03	—	₹25 cr	-8.5%	-7.0%	0.2x
2021-02	—	₹25 cr	-8.5%	-7.0%	0.2x
2021-01	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-12	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-11	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-10	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-09	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-08	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-07	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-06	—	₹25 cr	-8.5%	-7.0%	0.2x
2020-05	—	₹20 cr	-9.4%	-10.0%	0.2x
2020-04	—	₹20 cr	-9.4%	-10.0%	0.2x
2020-03	—	₹20 cr	-9.4%	-10.0%	0.2x
2020-02	—	₹20 cr	-9.4%	-10.0%	0.2x
2020-01	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-12	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-11	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-10	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-09	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-08	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-07	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-06	—	₹20 cr	-9.4%	-10.0%	0.2x
2019-05	—	₹16 cr	-13.9%	-10.0%	0.1x
2019-04	—	₹16 cr	-13.9%	-10.0%	0.1x
2019-03	—	₹16 cr	-13.9%	-10.0%	0.1x
2019-02	—	₹16 cr	-13.9%	-10.0%	0.1x
2019-01	—	₹16 cr	-13.9%	-10.0%	0.1x

Methodology and data notes