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PERSISTENT SYSTEMS LIMITED (PERSISTENT)

Technology Services · Information Technology Services · 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.81 / 100
Profitability 71Growth 71Balance 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 83Earnings 57FII/DII 26

Passes these screensQuality CompounderDebt-light & profitableInstitutions in, retail outConsistent compounders

Compare withTATA CONSULTANCY SERVICESINFOSYSHCL TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹6,040 latest close · +29.0% over the last 90 sessions

₹5,000₹5,500₹6,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹5,000₹5,500₹6,000Jul 3Sep 4Nov 9

₹6,040 month-end · −4.9% over 12 months

₹5,000₹6,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹5,000₹6,000Nov '25May '26Nov '26

₹6,040 month-end · +88.8% over 3 years

₹3,000₹4,000₹5,000₹6,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹3,000₹4,000₹5,000₹6,000Nov '23May '25Nov '26

₹6,040 month-end · +1906.3% since Jan '19

₹0₹2,000₹4,000₹6,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹2,000₹4,000₹6,000Jan '19Dec '22Nov '26

52-week range ₹4244.50 to ₹6599.00 · 1-year volatility 34.6%

Was the rally earned?

-5%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 22 points, but investors now pay less per rupee of profit (P/E 64.9x to 49.4x), which took 26 points back.
  • The share count barely moved.
Net profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23 ptsNet profit growthP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26 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: −5%−5%Share priceNet profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23ProfitP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: −5%−5%Share price
Net profit growth+23 ptsNet profit rose about 27%, which lifts the price.
P/E change-26 ptsThe P/E fell from 64.9x to 49.4x, which lowers the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+89%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 99 points, but investors now pay less per rupee of profit (P/E 53.1x to 49.4x), which took 10 points back.
  • The share count rose 3%.
Net profit growth: +103 pts. Points of the price return explained by net profit growing (or shrinking).+103 ptsNet profit growthP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: +89%+89%Share priceNet profit growth: +103 pts. Points of the price return explained by net profit growing (or shrinking).+103ProfitP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: +89%+89%Share price
Net profit growth+103 ptsNet profit rose about 109%, which lifts the price.
P/E change-10 ptsThe P/E fell from 53.1x to 49.4x, which lowers the price.
Share count change-4 ptsShare count rose 3%, which lowers the price.
+192%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 255 points, but investors now pay less per rupee of profit (P/E 70.2x to 49.4x), which took 63 points back.
  • The share count rose 3%.
Net profit growth: +260 pts. Points of the price return explained by net profit growing (or shrinking).+260 ptsNet profit growthP/E change: −63 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−63 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: +192%+192%Share priceNet profit growth: +260 pts. Points of the price return explained by net profit growing (or shrinking).+260ProfitP/E change: −63 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−63P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: +192%+192%Share price
Net profit growth+260 ptsNet profit rose about 327%, which lifts the price.
P/E change-63 ptsThe P/E fell from 70.2x to 49.4x, which lowers the price.
Share count change-5 ptsShare count rose 3%, which lowers 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 TATA CONSULTANCY SERVICES

How rough has the ride been?

Maximum drawdown-37.2%recovered 2020-07
1-year volatility34.6%annualised
Beta vs sector index1.123-year daily, correlation 0.64
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−10%−20%−30%2020202120222023202420252026−36.6% 0%−10%−20%−30%2020202220242026−36.6%
Largest drawdowns

-37.2% (2020-01 peak to 2020-05 low, recovered 2020-07)

-36.1% (2022-04 peak to 2022-07 low, recovered 2023-02)

-35.6% (2024-12 peak to 2026-06 low, not yet recovered)

Most recent volume spikes

2026-10-16: 5.6x the 50-day median, price -1.7% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

49.4xP/E todayWithin its usual range
Against its own history52nd percentile
CheapestMedian 49.3xDearest

Usual range 14.6x to 71.2x since 2019-01.

Against Technology Services49.4x vs 21.1x
This company
49.4x
Sector median
21.1x

135% above the Technology Services median.

7.4x32.6x57.9x83.2xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x32.6x57.9x83.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

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

Where does it rank among Technology Services peers?

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

Where it ranks today

  • ROCE89th▲ 6 pts vs a year ago
  • Op. margin54th▼ 7 pts vs a year ago
  • Revenue growth71stflat vs a year ago
  • EPS growth69th▼ 3 pts vs a year ago
  • Debt/equity ↓57th▼ 5 pts vs a year ago
  • Cash cycle ↓47th▲ 10 pts vs a year ago
  • P/E ↓17thflat vs a year ago
  • 12M momentum72nd▼ 11 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~24%annual earnings growth implied by the priceIn line with delivered growth

At P/E of 49.4x, a holder earning 12%/yr needs earnings to grow about 24.3%/yr for 10 years, then trade at 15x.

Delivered24.5%/yrEPS, last 10 fiscal years · fitted trend
Gap−0.2 ptsimplied minus delivered
Rank532ndmost demanding of 856

Over time

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

0%18%36% Jan 2019Nov 2026 0%18%36% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x25.7%26.8%28.0%
15x23.2%24.3%25.4%
20x20.0%21.1%22.2%

Drag a slider to test other assumptions

Implied: 24.3%/yr

Looking back

  • Jan 2020Price implied 11%/yr; EPS has since grown 27%/yr (7.0 yrs)
  • Jan 2021Price implied 20%/yr; EPS has since grown 32%/yr (6.0 yrs)
  • Jan 2022Price implied 30%/yr; EPS has since grown 32%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹6040.00
P/E
49.4x
ROCE
34.0%
Market Cap
₹1.00L cr
Revenue (TTM)
₹15718 cr
P/S
6.4x
P/B
12.8x
ROE
25.9%
Operating Margin
16.0%
Debt / Equity
0.1x
Promoter Holding
30.3%
12M Momentum
-4.9%

52-week range

₹4244.50₹6599.00
76% of the way from its 52-week low to its high

Price risk

1Y volatility
34.6%
Beta vs sector
1-year daily
1.05

Balance sheet & cash

Interest cover
operating profit ÷ interest
30.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.97x
Share count, 1Y
+1.3%

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance4%Within range

Other income as a share of pre-tax profit (trailing twelve months): 4.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate23%Within range

Median quarterly effective tax rate over about 2.5 years: 23.0%. 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 ₹4,226 cr, net profit ₹4,358 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history+14 daysWithin range

Debtor days are above the median of the previous three fiscal years by 14 days (83 vs 69). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% 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.

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 4.1 pts; FIIs trimmed 3.8 pts; promoters trimmed 0.8 pts.
  • The number of shareholders rose from 1.9 lakh to 2.8 lakh (+53%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters31.1%30.3%-0.8 pts
FIIs24.6%20.8%-3.8 pts
DIIs26.1%30.3%+4.1 pts
Public and others16.9%18.0%+1.1 pts

Number of shareholders

2.8 lakhshareholders+53% since Dec '23
1.9L2.2L2.5L2.8L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 1.9 lakh
Mar '24: 1.9 lakh
Jun '24: 2.3 lakh
Sep '24: 2.3 lakh
Dec '24: 2.4 lakh
Mar '25: 2.4 lakh
Jun '25: 2.4 lakh
Sep '25: 2.5 lakh
Dec '25: 2.3 lakh
Mar '26: 2.4 lakh
Jun '26: 2.8 lakh
 1.9L2.2L2.5L2.8L Dec '23Dec '24Dec '25Jun '26
Dec '23: 1.9 lakh
Mar '24: 1.9 lakh
Jun '24: 2.3 lakh
Sep '24: 2.3 lakh
Dec '24: 2.4 lakh
Mar '25: 2.4 lakh
Jun '25: 2.4 lakh
Sep '25: 2.5 lakh
Dec '25: 2.3 lakh
Mar '26: 2.4 lakh
Jun '26: 2.8 lakh

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

−12.7%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like PERSISTENT SYSTEMS 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 −25% 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 −10.2%, 80% range −17.8% to −6.8%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%
METROPOLIS · Dec 2021: −62.8% vs market
MPHASIS · Mar 2022: −44.8% vs market
SFL · Mar 2022: −39.8% vs market
VIPIND · Jan 2020: −38.4% vs market
WHIRLPOOL · Sep 2020: −36.4% vs market
KAJARIACER · May 2023: −34.3% vs market
LALPATHLAB · Jun 2021: −34.0% vs market
IGL · Nov 2020: −30.9% vs market
KPITTECH · Jul 2024: −29.3% vs market
TIINDIA · Mar 2024: −28.5% vs market
VBL · Mar 2025: −26.9% vs market
3MINDIA · Sep 2023: −26.7% vs market
EMAMILTD · Jun 2021: −25.0% vs market
UBL · Mar 2020: −24.8% vs market
LTTS · Dec 2023: −23.3% vs market
DEEPAKNTR · Oct 2022: −21.8% vs market
AIAENG · Aug 2023: −21.1% vs market
CROMPTON · Aug 2021: −19.7% vs market
HONAUT · Jan 2021: −19.3% vs market
SUPREMEIND · Mar 2021: −18.9% vs market
GRINDWELL · Jun 2023: −18.2% vs market
TTKPRESTIG · Mar 2020: −17.1% vs market
ASTRAL · Dec 2021: −17.0% vs market
HAVELLS · Nov 2021: −15.7% vs market
MANKIND · Oct 2024: −12.9% vs market
BIKAJI · Sep 2024: −12.5% vs market
CENTURYPLY · Sep 2022: −12.3% vs market
GARFIBRES · Jul 2021: −11.3% vs market
KEI · Aug 2024: −10.3% vs market
SAFARI · Nov 2024: −9.5% vs market
MARICO · May 2022: −6.8% vs market
SCHAEFFLER · Jul 2025: −6.1% vs market
SUMICHEM · Apr 2022: −4.9% vs market
VOLTAS · Jan 2021: −4.2% vs market
PIIND · Mar 2021: +1.1% vs market
JBCHEPHARM · Sep 2021: +1.9% vs market
COFORGE · May 2021: +2.6% vs market
CRISIL · Mar 2022: +2.8% vs market
CUMMINSIND · Feb 2024: +3.5% vs market
CGPOWER · Sep 2024: +5.8% vs market
UNITDSPR · Jun 2024: +9.6% vs market
TBOTEK · Sep 2025: +9.9% vs market
ATUL · Jan 2021: +10.3% vs market
ABBOTINDIA · May 2022: +12.3% vs market
FINEORG · Mar 2022: +13.2% vs market
TECHM · Oct 2020: +15.6% vs market
CAMS · Jun 2024: +16.3% vs market
RELAXO · Dec 2020: +20.2% vs market
POLYCAB · Jul 2025: +26.7% vs market
INOXINDIA · Oct 2025: +65.6% vs market
Similar setups −12.7%All companies −2.5%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
−12.7%
All companies' median
−2.5%
Beat the market
32% vs 47%

50 past situations · 50 companies · 37 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HAVELLS
Producer Manufacturing		 Nov 2021 82x30% +70%−8% −16%
POLYCAB
Producer Manufacturing		 Jul 2025 51x30% −1%−10% +27%
LTTS
Technology Services		 Dec 2023 47x33% +43%−1% −23%
SUMICHEM
Process Industries		 Apr 2022 62x32% +44%−4% −5%
MPHASIS
Technology Services		 Mar 2022 49x25% +93%−5% −45%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
EMAMILTD
Consumer Non-Durables		 Jun 2021 55x29% +154%0% −25%
COFORGE
Technology Services		 May 2021 50x27% +143%0% +3%
CRISIL
Commercial Services		 Mar 2022 52x38% +79%−3% +3%
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: 12-month momentum, P/S and drawdown from 12-month high. 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 PERSISTENT SYSTEMS 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.

KEI INDUSTRIESKEI
Producer Manufacturing
76%similar
EPS growthrevenue
CUMMINS INDIACUMMINSIND
Producer Manufacturing
74%similar
P/Emarket cap
RADICO KHAITANRADICO
Consumer Non-Durables
73%similar
volatilitymarket cap
EICHER MOTORSEICHERMOT
Consumer Durables
69%similar
EPS growthROCE
GLENMARK PHARMACEUTICALSGLENMARK
Health Technology
69%similar
debt/equityrevenue
COFORGECOFORGE
Technology Services
78%similar
market caprevenue
KPIT TECHNOLOGIESKPITTECH
Technology Services
58%similar
revenue growthoperating margin
AFFLE 3IAFFLE
Technology Services
52%similar
P/Erevenue growth

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

What changed?

30 events since Apr '21

  1. OctPriceVolume reached 5.6x its 50-day median on 2026-10-16; price -1.7% that day.
  2. JulPeer rankSlipped to the 2nd quartile of Technology Services on EPS growth (from the top quartile).
  3. JunPriceFell 36% from the Dec 2024 peak to the Jun 2026 low.
  4. JunPriceVolume reached 10.6x its 50-day median on 2026-06-29; price -11.2% that day.
  5. FebPriceVolume reached 7.8x its 50-day median on 2026-02-24; price -6.3% that day.
  6. JanPeer rankMoved into the top quartile of Technology Services on EPS growth (from the 2nd quartile).
  7. OctPriceVolume reached 8.0x its 50-day median on 2025-10-15; price +7.2% that day.
  8. JulPriceVolume reached 9.8x its 50-day median on 2025-07-24; price -7.7% that day.
Show 22 earlier events
  1. AprPriceVolume reached 5.4x its 50-day median on 2025-04-03; price -9.9% that day.
  2. JanPriceVolume reached 8.2x its 50-day median on 2025-01-23; price +10.6% that day.
  3. OctPriceVolume reached 7.0x its 50-day median on 2024-10-23; price +10.9% that day.
  4. SepPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  5. JulValuationP/E crossed above the 90th percentile of its own history to date (68.1x).
  6. JulPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  7. JunResultsRevenue (TTM) reached a new high of ₹9,822 cr.
  8. AprPriceVolume reached 9.2x its 50-day median on 2024-04-22; price -9.7% that day.
  9. JanValuationP/E crossed above the 90th percentile of its own history to date (69.3x).
  10. NovPriceVolume reached 17.5x its 50-day median on 2023-11-30; price -0.7% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹8,351 cr.
  12. JunPeer rankMoved into the top quartile of Technology Services on ROCE (from the 2nd quartile).
  13. FebPriceRegained the 2022-04 peak, 7 months after the low.
  14. JanPriceVolume reached 8.2x its 50-day median on 2023-01-19; price +7.5% that day.
  15. DecPriceVolume reached 5.7x its 50-day median on 2022-12-01; price +4.1% that day.
  16. JulPriceFell 36% from the Apr 2022 peak to the Jul 2022 low.
  17. JulPriceVolume reached 5.9x its 50-day median on 2022-07-22; price +2.0% that day.
  18. JunResultsRevenue (TTM) reached a new high of ₹5,711 cr.
  19. DecPriceVolume reached 5.5x its 50-day median on 2021-12-17; price +3.0% that day.
  20. JulPriceVolume reached 13.1x its 50-day median on 2021-07-23; price +7.4% that day.
  21. JunResultsRevenue (TTM) reached a new high of ₹4,188 cr.
  22. AprPriceVolume reached 7.8x its 50-day median on 2021-04-30; price +1.8% 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
2026-1149.4x₹15718 cr25.9%34.0%0.1x
2026-1049.5x₹15718 cr25.8%34.0%0.1x
2026-0943.2x₹15718 cr25.8%34.0%0.1x
2026-0847.1x₹14749 cr25.0%34.0%0.1x
2026-0746.7x₹14749 cr25.0%34.0%0.1x
2026-0636.4x₹14749 cr25.0%34.0%0.1x
2026-0546.9x₹13935 cr28.8%31.0%0.0x
2026-0443.3x₹13935 cr28.8%31.0%0.0x
2026-0344.0x₹13935 cr28.8%31.0%0.0x
2026-0244.2x₹13219 cr27.7%31.0%0.0x
2026-0156.4x₹13219 cr27.7%31.0%0.0x
2025-1258.6x₹13219 cr27.7%31.0%0.0x
2025-1164.9x₹12535 cr25.3%31.0%0.0x
2025-1060.4x₹12535 cr25.3%31.0%0.0x
2025-0949.3x₹12535 cr25.3%31.0%0.0x
2025-0858.5x₹11938 cr23.3%31.0%0.0x
2025-0756.9x₹11938 cr23.3%31.0%0.0x
2025-0666.7x₹11938 cr23.3%31.0%0.0x
2025-0565.9x₹11287 cr28.0%29.0%0.1x
2025-0462.2x₹11287 cr28.0%29.0%0.1x
2025-0364.5x₹11287 cr28.0%29.0%0.1x
2025-0266.3x₹10723 cr26.1%29.0%0.1x
2025-0175.4x₹10723 cr26.1%29.0%0.1x
2024-1280.8x₹10723 cr26.1%29.0%0.1x
2024-1177.6x₹10238 cr24.8%29.0%0.1x
2024-1070.6x₹10238 cr24.8%29.0%0.1x
2024-0971.7x₹10238 cr24.8%29.0%0.1x
2024-0872.8x₹9822 cr23.2%29.0%0.1x
2024-0768.1x₹9822 cr23.2%29.0%0.1x
2024-0659.8x₹9822 cr23.2%29.0%0.1x
2024-0556.6x₹8351 cr24.4%30.0%0.2x
2024-0455.9x₹8351 cr24.4%30.0%0.2x
2024-0366.1x₹8351 cr24.4%30.0%0.2x
2024-0271.6x₹8351 cr24.4%30.0%0.2x
2024-0169.3x₹8351 cr24.4%30.0%0.2x
2023-1261.3x₹8351 cr24.4%30.0%0.2x
2023-1153.1x₹8351 cr24.4%30.0%0.2x
2023-1051.1x₹8351 cr24.4%30.0%0.2x
2023-0948.1x₹8351 cr24.4%30.0%0.2x
2023-0844.6x₹8351 cr24.4%30.0%0.2x
2023-0739.4x₹8351 cr24.4%30.0%0.2x
2023-0641.6x₹8351 cr24.4%30.0%0.2x
2023-0556.9x₹5711 cr21.5%26.0%0.2x
2023-0452.5x₹5711 cr21.5%26.0%0.2x
2023-0351.0x₹5711 cr21.5%26.0%0.2x
2023-0253.1x₹5711 cr21.5%26.0%0.2x
2023-0151.9x₹5711 cr21.5%26.0%0.2x
2022-1242.9x₹5711 cr21.5%26.0%0.2x
2022-1146.0x₹5711 cr21.5%26.0%0.2x
2022-1040.9x₹5711 cr21.5%26.0%0.2x
2022-0935.9x₹5711 cr21.5%26.0%0.2x
2022-0839.0x₹5711 cr21.5%26.0%0.2x
2022-0740.2x₹5711 cr21.5%26.0%0.2x
2022-0637.7x₹5711 cr21.5%26.0%0.2x
2022-0563.8x₹4188 cr17.0%21.0%0.0x
2022-0473.3x₹4188 cr17.0%21.0%0.0x
2022-0380.8x₹4188 cr17.0%21.0%0.0x
2022-0266.8x₹4188 cr17.0%21.0%0.0x
2022-0174.6x₹4188 cr17.0%21.0%0.0x
2021-1283.2x₹4188 cr17.0%21.0%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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