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PANAMA PETROCHEM LTD (PANAMAPET)

Process Industries · Industrial Specialties · figures to Nov '26

Balance sheet #20
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.90 / 100
Profitability 83Growth 86Balance 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.50 / 100
Price 22Earnings 77FII/DII 52

Passes these screensQuality CompounderValue PickHigh MomentumDebt-light & profitableLittle growth priced inConsistent compounders

Compare withASIAN PAINTS INDIASOLAR INDUSTRIES INDIAPIDILITE INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹443.1 latest close · +4.1% over the last 90 sessions

₹400₹450₹500₹550Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹400₹450₹500₹550Jul 3Sep 4Nov 9

₹443.1 month-end · +50.2% over 12 months

₹300₹400₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹300₹400₹500Nov '25May '26Nov '26

₹443.1 month-end · +43.2% over 3 years

₹300₹400₹500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹300₹400₹500Nov '23May '25Nov '26

₹443.1 month-end · +304.5% since Jan '19

₹0₹200₹400Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400Jan '19Dec '22Nov '26

52-week range ₹229.00 to ₹599.60 · 1-year volatility 52.6%

Was the rally earned?

+50%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 121 points, but investors now pay less per rupee of profit (P/E 9.9x to 5.6x), which took 71 points back.
  • The share count barely moved.
Net profit growth: +121 pts. Points of the price return explained by net profit growing (or shrinking).+121 ptsNet profit growthP/E change: −71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−71 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: +50%+50%Share priceNet profit growth: +121 pts. Points of the price return explained by net profit growing (or shrinking).+121ProfitP/E change: −71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−71P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +50%+50%Share price
Net profit growth+121 ptsNet profit rose about 167%, which lifts the price.
P/E change-71 ptsThe P/E fell from 9.9x to 5.6x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+43%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 87 points, but investors now pay less per rupee of profit (P/E 8.0x to 5.6x), which took 43 points back.
  • The share count barely moved.
Net profit growth: +87 pts. Points of the price return explained by net profit growing (or shrinking).+87 ptsNet profit growthP/E change: −43 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−43 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: +43%+43%Share priceNet profit growth: +87 pts. Points of the price return explained by net profit growing (or shrinking).+87ProfitP/E change: −43 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−43P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +43%+43%Share price
Net profit growth+87 ptsNet profit rose about 105%, which lifts the price.
P/E change-43 ptsThe P/E fell from 8.0x to 5.6x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+86%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 175 points, but investors now pay less per rupee of profit (P/E 10.7x to 5.6x), which took 89 points back.
  • The share count barely moved.
Net profit growth: +175 pts. Points of the price return explained by net profit growing (or shrinking).+175 ptsNet profit growthP/E change: −89 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−89 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: +86%+86%Share priceNet profit growth: +175 pts. Points of the price return explained by net profit growing (or shrinking).+175ProfitP/E change: −89 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−89P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +86%+86%Share price
Net profit growth+175 ptsNet profit rose about 254%, which lifts the price.
P/E change-89 ptsThe P/E fell from 10.7x to 5.6x, 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 ASIAN PAINTS INDIA

How rough has the ride been?

Maximum drawdown-79.7%recovered 2021-02
1-year volatility52.6%annualised
Beta vs sector index1.163-year daily, correlation 0.45
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−78.8% 0%−25%−50%−75%2020202220242026−78.8%
Largest drawdowns

-79.7% (2019-03 peak to 2020-03 low, recovered 2021-02)

-47.2% (2024-07 peak to 2026-03 low, recovered 2026-06)

-34.8% (2022-11 peak to 2023-03 low, recovered 2024-07)

Most recent volume spikes

2026-11-04: 6.3x the 50-day median, price -1.6% that day

2026-10-07: 8.9x the 50-day median, price +6.5% that day

2026-08-13: 20.5x the 50-day median, price +1.6% 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?

5.6xP/E todayNear its historic low
Against its own history4th percentile
CheapestMedian 9.9xDearest

Usual range 7.3x to 13.1x since 2019-01.

Against Process Industries5.6x vs 18.1x
This company
5.6x
Sector median
18.1x

69% below the Process Industries median.

3.3x17.6x31.9x46.3xJan '19Aug '20Mar '22Oct '23May '25Nov '263.3x17.6x31.9x46.3xJan '19Sep '21May '24Nov '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

The chart loads when you open this tab.

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; 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 Process Industries is valued

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).

Where it ranks today

  • ROCE79thflat vs a year ago
  • Op. margin87th▲ 48 pts vs a year ago
  • Revenue growth94th▲ 30 pts vs a year ago
  • EPS growth94th▲ 58 pts vs a year ago
  • Debt/equity ↓80th▼ 7 pts vs a year ago
  • Cash cycle ↓44th▼ 11 pts vs a year ago
  • P/E ↓94th▲ 8 pts vs a year ago
  • 12M momentum90th▲ 28 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~9%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 12.7x, a holder earning 12%/yr needs earnings to grow about 8.5%/yr for 10 years, then trade at 15x.

Delivered21.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−12.5 ptsimplied minus delivered
Rank728thmost demanding of 856

Over time

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

-3%18%38% Jan 2019Nov 2026 -3%18%38% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x9.7%10.7%11.7%
15x7.5%8.5%9.5%
20x4.7%5.6%6.6%

Drag a slider to test other assumptions

Implied: 8.5%/yr

Looking back

  • Jan 2020Price implied 6%/yr; EPS has since grown 22%/yr (7.0 yrs)
  • Jan 2021Price implied 11%/yr; EPS has since grown 39%/yr (6.0 yrs)
  • Jan 2022Price implied 18%/yr; EPS has since grown 9%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹443.10
P/E
5.6x
ROCE
19.0%
Market Cap
₹2678 cr
Revenue (TTM)
₹4106 cr
P/S
0.7x
P/B
1.8x
ROE
32.6%
Operating Margin
22.0%
Debt / Equity
0.1x
Promoter Holding
63.2%
12M Momentum
50.2%

52-week range

₹229.00₹599.60
58% of the way from its 52-week low to its high

Price risk

1Y volatility
52.6%
Beta vs sector
1-year daily
1.20

Balance sheet & cash

Interest cover
operating profit ÷ interest
43.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.11x
low
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance2%Within range

Other income as a share of pre-tax profit (trailing twelve months): 2.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate19%Within range

Median quarterly effective tax rate over about 2.5 years: 18.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.11xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.11x (cash from operations ₹65 cr, net profit ₹594 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+5 daysWithin range

Debtor days are above the median of the previous three fiscal years by 5 days (68 vs 63). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress15% of fixed assetsWithin range

Capital work-in-progress is 15% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-3 days / 2 yrsWithin range

Days payable changed by -3 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

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

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, promoters trimmed 4.1 pts; FIIs added 3.4 pts; DIIs added 0.7 pts.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters67.3%63.2%-4.1 pts
FIIs8.3%11.7%+3.4 pts
DIIs0.0%0.7%+0.7 pts
Public and others24.4%24.4%+0.1 pts

Number of shareholders

26,973shareholders-1% since Dec '23
25k26k27k27k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 27,218
Mar '24: 26,633
Jun '24: 25,125
Sep '24: 27,275
Dec '24: 26,145
Mar '25: 25,412
Jun '25: 24,952
Sep '25: 25,951
Dec '25: 26,068
Mar '26: 25,780
Jun '26: 26,973
 25k26k27k27k Dec '23Dec '24Dec '25Jun '26
Dec '23: 27,218
Mar '24: 26,633
Jun '24: 25,125
Sep '24: 27,275
Dec '24: 26,145
Mar '25: 25,412
Jun '25: 24,952
Sep '25: 25,951
Dec '25: 26,068
Mar '26: 25,780
Jun '26: 26,973

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

−2.2%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 PANAMA PETROCHEM 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 −19% to +51% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (−0.5%, 80% range −11.1% to +6.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
SRHHYPOLTD · Jun 2023: −47.4% vs market
JINDALPOLY · Feb 2022: −41.4% vs market
EXCELINDUS · Nov 2022: −39.2% vs market
SHREYANIND · Oct 2023: −38.0% vs market
TRIGYN · Jul 2021: −37.1% vs market
GSFC · Jan 2024: −36.6% vs market
MANINDS · Jul 2021: −32.3% vs market
MANAKSIA · Feb 2023: −31.4% vs market
PRAKASH · Apr 2021: −24.0% vs market
GALLANTT · Sep 2021: −23.1% vs market
CLSEL · Aug 2023: −22.9% vs market
KITEX · Aug 2022: −21.0% vs market
DALMIASUG · Feb 2022: −19.1% vs market
GUJALKALI · Jun 2022: −18.1% vs market
POLYPLEX · Jan 2022: −16.5% vs market
IZMO · Jun 2021: −16.5% vs market
TNPETRO · Jan 2020: −16.4% vs market
KCP · Jul 2024: −13.3% vs market
JKIL · Jul 2024: −13.2% vs market
DBCORP · Jun 2024: −12.0% vs market
ALLCARGO · Jul 2022: −11.6% vs market
SUNFLAG · Jun 2023: −9.6% vs market
PONNIERODE · Aug 2020: −6.4% vs market
MAHSEAMLES · Jun 2023: −6.0% vs market
TALBROAUTO · Jun 2024: −4.8% vs market
JINDRILL · Sep 2025: +0.5% vs market
KIRLOSIND · Sep 2021: +1.2% vs market
TRIVENI · Aug 2023: +3.0% vs market
SHREERAMA · Jun 2025: +3.5% vs market
IMFA · Jun 2024: +3.8% vs market
PDMJEPAPER · May 2024: +8.8% vs market
ANDHRSUGAR · Jul 2020: +8.8% vs market
ANDHRAPAP · Dec 2022: +14.3% vs market
VASCONEQ · Jul 2023: +20.5% vs market
ORBTEXP · Oct 2025: +23.1% vs market
DLINKINDIA · Jun 2023: +24.5% vs market
TIIL · Jun 2022: +48.8% vs market
OCCLLTD · Oct 2025: +51.8% vs market
GNFC · Jun 2021: +58.8% vs market
WELENT · Jul 2023: +61.3% vs market
GAEL · Jun 2021: +62.8% vs market
BCG · Aug 2021: +63.5% vs market
SARDAEN · Jan 2023: +64.4% vs market
DPWIRES · Jun 2021: +66.7% vs market
BANCOINDIA · Jun 2024: +82.6% vs market
LTFOODS · Jun 2024: +85.9% vs market
DATAMATICS · Mar 2021: +110.2% vs market
IRCON · Jun 2023: +120.4% vs market
NAHARPOLY · Jun 2021: +121.4% vs market
GOLDIAM · Apr 2020: +169.1% vs market
Similar setups −2.2%All companies −1.7%← 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 · 4 beyond the range shown, drawn at the edge

Similar setups' median
−2.2%
All companies' median
−1.7%
Beat the market
50% vs 48%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
CLSEL
Process Industries		 Aug 2023 9x26% +92%−6% −23%
MANAKSIA
Non-Energy Minerals		 Feb 2023 4x23% +63%−23% −31%
PDMJEPAPER
Process Industries		 May 2024 14x19% +113%−10% +9%
SUNFLAG
Non-Energy Minerals		 Jun 2023 3x12% +101%−7% −10%
POLYPLEX
Process Industries		 Jan 2022 11x19% +167%−10% −17%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TRIGYN
Technology Services		 Jul 2021 8x17% +404%−7% −37%
GALLANTT
Non-Energy Minerals		 Sep 2021 8x12% +141%−11% −23%
SRHHYPOLTD
Process Industries		 Jun 2023 8x26% +69%−21% −47%
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, ROCE 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 PANAMA PETROCHEM LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

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.

REFEX INDUSTRIESREFEX
Energy Minerals
65%similar
volatilityrevenue growth
JINDAL DRILLING & INDUSTRIES LJINDRILL
Industrial Services
62%similar
EPS growthP/E
SAKSOFTSAKSOFT
Technology Services
60%similar
debt/equitypromoter holding
BLS INTERNATIONAL SERVICESBLS
Technology Services
58%similar
revenuerevenue growth
NEWGEN SOFTWARE TECHNOLOGIESNEWGEN
Technology Services
57%similar
volatilityrevenue growth
SAVITA OIL TECHNOLOGIES LIMITESOTL
Process Industries
60%similar
revenueEPS growth
GANDHAR OIL REFINERY INDIAGANDHAR
Process Industries
53%similar
market capP/E
BOROSIL RENEWABLESBORORENEW
Process Industries
52%similar
revenue growthdebt/equity

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. OctPriceVolume reached 8.9x its 50-day median on 2026-10-07; price +6.5% that day.
  2. SepPeer rankMoved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  3. AugValuationP/E crossed above the 90th percentile of its own history to date (13.4x).
  4. AugPriceVolume reached 45.7x its 50-day median on 2026-08-12; price -11.9% that day.
  5. JunResultsYear-on-year EPS growth turned positive.
  6. JunPriceRegained the 2024-07 peak, 3 months after the low.
  7. JunPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  8. JunPriceVolume reached 259.3x its 50-day median on 2026-06-10; price +8.4% that day.
Show 22 earlier events
  1. MarPriceFell 47% from the Jul 2024 peak to the Mar 2026 low.
  2. JanPriceVolume reached 57.4x its 50-day median on 2026-01-01; price +7.8% that day.
  3. DecResultsRevenue (TTM) reached a new high of ₹2,889 cr.
  4. NovPriceVolume reached 67.0x its 50-day median on 2025-11-11; price +7.1% that day.
  5. AugPriceVolume reached 14.7x its 50-day median on 2025-08-29; price -8.9% that day.
  6. JunInstitutionsFII + DII holding fell 3.1 pts over 1 quarter to 12.7%.
  7. JunDividendDividend payout cut from 22% to 10% of profit.
  8. MayPriceVolume reached 8.9x its 50-day median on 2025-05-26; price -7.1% that day.
  9. FebPriceVolume reached 7.0x its 50-day median on 2025-02-20; price +5.5% that day.
  10. DecPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  11. SepPromoterPromoter holding fell 3.9 pts to 61.9%.
  12. SepInstitutionsFII + DII holding rose 6.8 pts over 2 quarters to 15.1%.
  13. JulPriceRegained the 2022-11 peak, 16 months after the low.
  14. JulPriceVolume reached 6.3x its 50-day median on 2024-07-22; price +5.3% that day.
  15. JunResultsYear-on-year EPS growth turned negative.
  16. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  17. MayPriceVolume reached 22.8x its 50-day median on 2024-05-27; price +6.2% that day.
  18. FebPriceVolume reached 8.5x its 50-day median on 2024-02-20; price +7.8% that day.
  19. DecPriceVolume reached 16.2x its 50-day median on 2023-12-05; price +11.6% that day.
  20. AugPriceVolume reached 12.5x its 50-day median on 2023-08-28; price +7.4% that day.
  21. JunResultsRevenue (TTM) reached a new high of ₹2,249 cr.
  22. MayPriceVolume reached 6.5x its 50-day median on 2023-05-30; price -3.7% 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
2026-115.6x₹4106 cr32.6%19.0%0.1x
2026-105.7x₹4106 cr32.6%19.0%0.1x
2026-096.1x₹4106 cr32.6%19.0%0.1x
2026-0813.4x₹3064 cr14.5%19.0%0.1x
2026-0712.9x₹3064 cr14.5%19.0%0.1x
2026-0612.0x₹3064 cr14.5%19.0%0.1x
2026-0510.7x₹2936 cr14.8%20.0%0.0x
2026-049.1x₹2936 cr14.8%20.0%0.0x
2026-037.6x₹2936 cr14.8%20.0%0.0x
2026-029.0x₹2889 cr15.0%20.0%0.0x
2026-019.5x₹2889 cr15.0%20.0%0.0x
2025-129.1x₹2889 cr15.0%20.0%0.0x
2025-119.9x₹2815 cr14.3%20.0%0.0x
2025-109.0x₹2815 cr14.3%20.0%0.0x
2025-099.5x₹2815 cr14.3%20.0%0.0x
2025-089.5x₹2793 cr14.8%20.0%0.0x
2025-0711.6x₹2793 cr14.8%20.0%0.0x
2025-0611.4x₹2793 cr14.8%20.0%0.0x
2025-0510.7x₹2839 cr18.4%24.0%0.0x
2025-0410.7x₹2839 cr18.4%24.0%0.0x
2025-0311.3x₹2839 cr18.4%24.0%0.0x
2025-0210.8x₹2623 cr17.8%24.0%0.0x
2025-0111.6x₹2623 cr17.8%24.0%0.0x
2024-1211.3x₹2623 cr17.8%24.0%0.0x
2024-1110.5x₹2498 cr18.0%24.0%0.0x
2024-1011.6x₹2498 cr18.0%24.0%0.0x
2024-0911.7x₹2498 cr18.0%24.0%0.0x
2024-0812.9x₹2357 cr17.7%24.0%0.0x
2024-0712.8x₹2357 cr17.7%24.0%0.0x
2024-0612.2x₹2357 cr17.7%24.0%0.0x
2024-059.3x₹2249 cr24.5%35.0%0.0x
2024-048.7x₹2249 cr24.5%35.0%0.0x
2024-038.6x₹2249 cr24.5%35.0%0.0x
2024-028.9x₹2249 cr24.5%35.0%0.0x
2024-019.3x₹2249 cr24.5%35.0%0.0x
2023-128.6x₹2249 cr24.5%35.0%0.0x
2023-118.0x₹2249 cr24.5%35.0%0.0x
2023-108.4x₹2249 cr24.5%35.0%0.0x
2023-098.0x₹2249 cr24.5%35.0%0.0x
2023-088.5x₹2249 cr24.5%35.0%0.0x
2023-077.5x₹2249 cr24.5%35.0%0.0x
2023-067.9x₹2249 cr24.5%35.0%0.0x
2023-057.3x₹2132 cr29.9%41.0%0.0x
2023-047.7x₹2132 cr29.9%41.0%0.0x
2023-037.7x₹2132 cr29.9%41.0%0.0x
2023-027.8x₹2132 cr29.9%41.0%0.0x
2023-018.5x₹2132 cr29.9%41.0%0.0x
2022-129.1x₹2132 cr29.9%41.0%0.0x
2022-1110.3x₹2132 cr29.9%41.0%0.0x
2022-107.4x₹2132 cr29.9%41.0%0.0x
2022-097.6x₹2132 cr29.9%41.0%0.0x
2022-088.5x₹2132 cr29.9%41.0%0.0x
2022-077.3x₹2132 cr29.9%41.0%0.0x
2022-066.9x₹2132 cr29.9%41.0%0.0x
2022-0512.9x₹1447 cr24.1%34.0%0.1x
2022-0415.7x₹1447 cr24.1%34.0%0.1x
2022-0311.9x₹1447 cr24.1%34.0%0.1x
2022-0210.2x₹1447 cr24.1%34.0%0.1x
2022-0113.3x₹1447 cr24.1%34.0%0.1x
2021-1211.1x₹1447 cr24.1%34.0%0.1x

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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