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PIDILITE INDUSTRIES LTD (PIDILITIND)

Process Industries · Industrial Specialties · figures to Nov '26

Balance sheet #16
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 94Growth 77Balance 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.59 / 100
Price 51Earnings 62FII/DII 63

Passes these screensQuality CompounderDebt-light & profitable

Compare withASIAN PAINTS INDIASOLAR INDUSTRIES INDIASRF

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,587.5 latest close · −0.7% over the last 90 sessions

₹1,400₹1,500₹1,600₹1,700Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,400₹1,500₹1,600₹1,700Jul 3Sep 4Nov 9

₹1,587.5 month-end · +8.0% over 12 months

₹1,400₹1,600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,400₹1,600Nov '25May '26Nov '26

₹1,587.5 month-end · +24.4% over 3 years

₹1,400₹1,600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,400₹1,600Nov '23May '25Nov '26

₹1,587.5 month-end · +183.5% since Jan '19

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

52-week range ₹1259.00 to ₹1707.50 · 1-year volatility 23.4%

Was the rally earned?

+8%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 20 points, but investors now pay less per rupee of profit (P/E 68.5x to 61.0x), which took 12 points back.
  • The share count barely moved.
Net profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19 ptsNet profit growthP/E change: −12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−12 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: +8%+8%Share priceNet profit growth: +19 pts. Points of the price return explained by net profit growing (or shrinking).+19ProfitP/E change: −12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−12P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +8%+8%Share price
Net profit growth+19 ptsNet profit rose about 20%, which lifts the price.
P/E change-12 ptsThe P/E fell from 68.5x to 61.0x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+24%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 82 points, but investors now pay less per rupee of profit (P/E 101.9x to 61.0x), which took 57 points back.
  • The share count barely moved.
Net profit growth: +81 pts. Points of the price return explained by net profit growing (or shrinking).+81 ptsNet profit growthP/E change: −57 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−57 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: +24%+24%Share priceNet profit growth: +81 pts. Points of the price return explained by net profit growing (or shrinking).+81ProfitP/E change: −57 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−57P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +24%+24%Share price
Net profit growth+81 ptsNet profit rose about 106%, which lifts the price.
P/E change-57 ptsThe P/E fell from 101.9x to 61.0x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+44%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 102 points, but investors now pay less per rupee of profit (P/E 99.1x to 61.0x), which took 58 points back.
  • The share count barely moved.
Net profit growth: +103 pts. Points of the price return explained by net profit growing (or shrinking).+103 ptsNet profit growthP/E change: −58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−58 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: +44%+44%Share priceNet profit growth: +103 pts. Points of the price return explained by net profit growing (or shrinking).+103ProfitP/E change: −58 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−58P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +44%+44%Share price
Net profit growth+103 ptsNet profit rose about 135%, which lifts the price.
P/E change-58 ptsThe P/E fell from 99.1x to 61.0x, which lowers the price.
Share count change-1 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-28.5%recovered 2020-12
1-year volatility23.4%annualised
Beta vs sector index0.543-year daily, correlation 0.44
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−10%−20%−30%2020202120222023202420252026−28.5% 0%−10%−20%−30%2020202220242026−28.5%
Largest drawdowns

-28.5% (2020-03 peak to 2020-04 low, recovered 2020-12)

-27.3% (2022-01 peak to 2022-06 low, recovered 2022-09)

-24.3% (2024-09 peak to 2026-04 low, recovered 2026-08)

Most recent volume spikes

2026-10-29: 5.3x the 50-day median, price +2.3% 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?

61.0xP/E todayNear its historic low
Against its own history6th percentile
CheapestMedian 82.3xDearest

Usual range 64.3x to 109.6x since 2019-01.

Against Process Industries61.0x vs 18.1x
This company
61.0x
Sector median
18.1x

237% above the Process Industries median.

6.8x45.1x83.4x121.8xJan '19Aug '20Mar '22Oct '23May '25Nov '266.8x45.1x83.4x121.8xJan '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

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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

  • ROCE95thflat vs a year ago
  • Op. margin92ndflat vs a year ago
  • Revenue growth65th▲ 14 pts vs a year ago
  • EPS growth60th▼ 5 pts vs a year ago
  • Debt/equity ↓84thflat vs a year ago
  • Cash cycle ↓73rdflat vs a year ago
  • P/E ↓12thflat vs a year ago
  • 12M momentum70th▼ 6 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?

~32%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 92.7x, a holder earning 12%/yr needs earnings to grow about 32.3%/yr for 10 years, then trade at 15x.

Delivered12.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+19.8 ptsimplied minus delivered
Rank147thmost demanding of 856

Over time

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

0%19%38% Jan 2019Nov 2026 0%19%38% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x33.8%35.0%36.2%
15x31.2%32.3%33.5%
20x27.8%28.9%30.1%

Drag a slider to test other assumptions

Implied: 32.3%/yr

Looking back

  • Jan 2020Price implied 33%/yr; EPS has since grown 15%/yr (7.0 yrs)
  • Jan 2021Price implied 33%/yr; EPS has since grown 14%/yr (6.0 yrs)
  • Jan 2022Price implied 37%/yr; EPS has since grown 17%/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
₹1587.50
P/E
61.0x
ROCE
31.0%
Market Cap
₹1.62L cr
Revenue (TTM)
₹15399 cr
P/S
10.5x
P/B
14.9x
ROE
24.5%
Operating Margin
26.0%
Debt / Equity
0.0x
Promoter Holding
69.2%
12M Momentum
8.0%

52-week range

₹1259.00₹1707.50
73% of the way from its 52-week low to its high

Price risk

1Y volatility
23.4%
Beta vs sector
1-year daily
0.74

Balance sheet & cash

Interest cover
operating profit ÷ interest
68.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.24x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.24xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.24x (cash from operations ₹7,839 cr, net profit ₹6,314 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+6 daysWithin range

Debtor days are above the median of the previous three fiscal years by 6 days (55 vs 49). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress6% of fixed assetsWithin range

Capital work-in-progress is 6% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+16 days / 2 yrsWithin range

Days payable changed by +16 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

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

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, DIIs added 1.8 pts; promoters trimmed 0.6 pts.
  • The number of shareholders fell from 6.0 lakh to 5.1 lakh (-15%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters69.9%69.2%-0.6 pts
FIIs11.4%11.7%+0.3 pts
DIIs8.0%9.8%+1.8 pts
Public and others10.7%9.2%-1.5 pts

Number of shareholders

5.1 lakhshareholders-15% since Sep '23
5.0L5.3L5.7L6.0L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 6.0 lakh
Dec '23: 5.8 lakh
Mar '24: 5.4 lakh
Jun '24: 5.2 lakh
Sep '24: 5.1 lakh
Dec '24: 5.1 lakh
Mar '25: 5.2 lakh
Jun '25: 5.0 lakh
Sep '25: 5.2 lakh
Dec '25: 5.2 lakh
Mar '26: 5.2 lakh
Jun '26: 5.1 lakh
 5.0L5.3L5.7L6.0L Sep '23Sep '24Sep '25Jun '26
Sep '23: 6.0 lakh
Dec '23: 5.8 lakh
Mar '24: 5.4 lakh
Jun '24: 5.2 lakh
Sep '24: 5.1 lakh
Dec '24: 5.1 lakh
Mar '25: 5.2 lakh
Jun '25: 5.0 lakh
Sep '25: 5.2 lakh
Dec '25: 5.2 lakh
Mar '26: 5.2 lakh
Jun '26: 5.1 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

−13.9%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like PIDILITE INDUSTRIES 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 −24% to +7% vs the market, against −2% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −12.1%, 80% range −20.3% to −7.7%), but the matches cluster in only 5 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%+60%
SIEMENS · May 2024: −41.5% vs market
PIIND · Jul 2025: −38.6% vs market
BATAINDIA · Feb 2020: −36.0% vs market
ITC · May 2023: −33.3% vs market
IGL · Nov 2020: −30.9% vs market
HINDUNILVR · Aug 2025: −30.0% vs market
AIAENG · Aug 2020: −29.5% vs market
SUMICHEM · Sep 2022: −27.6% vs market
DABUR · Sep 2020: −26.1% vs market
GLAXO · Jan 2020: −26.1% vs market
UBL · Mar 2020: −24.8% vs market
GRINDWELL · Jul 2023: −24.3% vs market
EMAMILTD · Aug 2021: −24.3% vs market
EICHERMOT · Sep 2020: −22.6% vs market
RELAXO · Aug 2021: −21.6% vs market
LTTS · Mar 2024: −20.8% vs market
ASTRAL · May 2023: −19.8% vs market
ABBOTINDIA · Apr 2023: −19.7% vs market
PAGEIND · May 2025: −19.4% vs market
KANSAINER · Feb 2020: −18.1% vs market
BERGEPAINT · Nov 2020: −17.7% vs market
TTKPRESTIG · Mar 2020: −17.1% vs market
MANKIND · Feb 2025: −16.9% vs market
BRITANNIA · Feb 2020: −16.8% vs market
CROMPTON · Dec 2020: −14.8% vs market
CUMMINSIND · Apr 2024: −13.0% vs market
ATUL · Jun 2021: −10.6% vs market
MARICO · Apr 2020: −10.2% vs market
VGUARD · Mar 2020: −9.5% vs market
UNITDSPR · Nov 2024: −8.6% vs market
TCS · May 2020: −8.0% vs market
PERSISTENT · Dec 2024: −8.0% vs market
3MINDIA · Jul 2023: −7.9% vs market
CRISIL · Oct 2023: −4.1% vs market
SCHAEFFLER · Aug 2025: −3.6% vs market
BAJAJ-AUTO · Feb 2020: −3.4% vs market
SUPREMEIND · Jul 2020: +4.0% vs market
LALPATHLAB · Aug 2025: +8.6% vs market
HAL · Oct 2025: +9.6% vs market
HAVELLS · Apr 2020: +10.0% vs market
ASIANPAINT · Jul 2020: +10.1% vs market
SUNPHARMA · Oct 2025: +11.1% vs market
INFY · Mar 2021: +12.8% vs market
NESTLEIND · Apr 2025: +14.5% vs market
HONAUT · Jan 2020: +16.9% vs market
ASTRAZEN · Oct 2023: +17.1% vs market
HCLTECH · Mar 2020: +25.2% vs market
BEL · Apr 2024: +32.2% vs market
TORNTPHARM · Oct 2025: +36.9% vs market
DIVISLAB · Oct 2025: +53.4% vs market
Similar setups −13.9%All companies −1.8%← 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
−13.9%
All companies' median
−1.8%
Beat the market
28% vs 48%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DABUR
Consumer Non-Durables		 Sep 2020 62x28% +14%−2% −26%
BRITANNIA
Consumer Non-Durables		 Feb 2020 62x44% −3%−11% −17%
UNITDSPR
Consumer Non-Durables		 Nov 2024 79x28% +46%−7% −9%
UBL
Consumer Non-Durables		 Mar 2020 43x28% −34%−37% −25%
ABBOTINDIA
Health Technology		 Apr 2023 58x38% +31%−3% −20%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HINDUNILVR
Consumer Non-Durables		 Aug 2025 58x28% −4%−12% −30%
MARICO
Consumer Non-Durables		 Apr 2020 33x42% −20%−28% −10%
ASIANPAINT
Process Industries		 Jul 2020 61x33% +13%−9% +10%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 PIDILITE INDUSTRIES 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.

NESTLE INDIANESTLEIND
Consumer Non-Durables
79%similar
volatilitymarket cap
HINDUSTAN AERONAUTICSHAL
Electronic Technology
75%similar
ROCEmarket cap
AJANTA PHARMAAJANTPHARM
Health Technology
74%similar
operating marginEPS growth
ABBOTT INDIAABBOTINDIA
Health Technology
72%similar
revenue growthdebt/equity
MARICOMARICO
Consumer Non-Durables
69%similar
P/Erevenue
BERGER PAINTS INDIABERGEPAINT
Process Industries
65%similar
revenuemarket cap
SOLAR INDUSTRIES INDIASOLARINDS
Process Industries
59%similar
market capoperating margin
ASIAN PAINTS INDIAASIANPAINT
Process Industries
52%similar
market capvolatility

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

What changed?

30 events since Apr '20

  1. OctPriceVolume reached 5.3x its 50-day median on 2026-10-29; price +2.3% that day.
  2. SepValuationP/E fell below the 10th percentile of its own history to date (56.3x).
  3. MayPriceVolume reached 7.7x its 50-day median on 2026-05-08; price +1.8% that day.
  4. JanValuationP/E fell below the 10th percentile of its own history to date (65.4x).
  5. NovPriceVolume reached 6.3x its 50-day median on 2025-11-24; price -0.6% that day.
  6. JunPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
  7. MayPriceVolume reached 5.6x its 50-day median on 2025-05-30; price +2.6% that day.
  8. JanPriceVolume reached 8.6x its 50-day median on 2025-01-23; price +5.6% that day.
Show 22 earlier events
  1. DecPriceVolume reached 5.6x its 50-day median on 2024-12-30; price -0.1% that day.
  2. JunResultsRevenue (TTM) reached a new high of ₹12,383 cr.
  3. JunPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
  4. MarValuationP/E crossed above the 90th percentile of its own history to date (120.4x).
  5. JanPriceVolume reached 9.0x its 50-day median on 2024-01-31; price -1.3% that day.
  6. OctPriceVolume reached 6.8x its 50-day median on 2023-10-31; price +6.3% that day.
  7. JunResultsRevenue (TTM) reached a new high of ₹11,799 cr.
  8. JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
  9. SepPriceRegained the 2022-01 peak, 3 months after the low.
  10. AugValuationP/E crossed above the 90th percentile of its own history to date (115.2x).
  11. JunResultsRevenue (TTM) reached a new high of ₹9,921 cr.
  12. JunPriceFell 27% from the Jan 2022 peak to the Jun 2022 low.
  13. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  14. DecValuationP/E crossed above the 90th percentile of its own history to date (110.6x).
  15. NovPriceVolume reached 6.2x its 50-day median on 2021-11-11; price +4.5% that day.
  16. MarValuationP/E crossed above the 90th percentile of its own history to date (82.3x).
  17. DecPriceRegained the 2020-03 peak, 8 months after the low.
  18. DecPriceVolume reached 10.0x its 50-day median on 2020-12-18; price +6.3% that day.
  19. AugPriceVolume reached 5.2x its 50-day median on 2020-08-07; price +3.5% that day.
  20. JunResultsYear-on-year EPS growth turned positive.
  21. JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
  22. AprPriceFell 28% from the Mar 2020 peak to the Apr 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

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1161.0x₹15399 cr24.5%31.0%0.0x
2026-1056.2x₹15399 cr24.7%31.0%0.0x
2026-0956.3x₹15399 cr24.7%31.0%0.0x
2026-0870.1x₹14600 cr22.8%31.0%0.0x
2026-0767.0x₹14600 cr22.8%31.0%0.0x
2026-0666.2x₹14600 cr22.8%31.0%0.0x
2026-0565.8x₹14158 cr23.7%30.0%0.0x
2026-0461.1x₹14158 cr23.7%30.0%0.0x
2026-0357.1x₹14158 cr23.7%30.0%0.0x
2026-0268.2x₹13817 cr23.0%30.0%0.0x
2026-0165.4x₹13817 cr23.0%30.0%0.0x
2025-1267.8x₹13817 cr23.0%30.0%0.0x
2025-1168.5x₹13498 cr22.6%30.0%0.0x
2025-1067.3x₹13498 cr22.6%30.0%0.0x
2025-0968.4x₹13498 cr22.6%30.0%0.0x
2025-0874.7x₹13140 cr21.5%30.0%0.0x
2025-0770.3x₹13140 cr21.5%30.0%0.0x
2025-0674.8x₹13140 cr21.5%30.0%0.0x
2025-0580.8x₹12901 cr23.5%30.0%0.0x
2025-0478.9x₹12901 cr23.5%30.0%0.0x
2025-0374.1x₹12901 cr23.5%30.0%0.0x
2025-0270.7x₹12662 cr22.9%30.0%0.0x
2025-0176.3x₹12662 cr22.9%30.0%0.0x
2024-1277.2x₹12662 cr22.9%30.0%0.0x
2024-1185.3x₹12503 cr21.9%30.0%0.0x
2024-1087.5x₹12503 cr21.9%30.0%0.0x
2024-0993.4x₹12503 cr21.9%30.0%0.0x
2024-0891.9x₹12383 cr20.8%30.0%0.0x
2024-0793.7x₹12383 cr20.8%30.0%0.0x
2024-0692.9x₹12383 cr20.8%30.0%0.0x
2024-05118.6x₹11799 cr17.9%24.0%0.1x
2024-04121.8x₹11799 cr17.9%24.0%0.1x
2024-03120.4x₹11799 cr17.9%24.0%0.1x
2024-02109.3x₹11799 cr17.9%24.0%0.1x
2024-01101.2x₹11799 cr17.9%24.0%0.1x
2023-12108.4x₹11799 cr17.9%24.0%0.1x
2023-11101.9x₹11799 cr17.9%24.0%0.1x
2023-1098.2x₹11799 cr17.9%24.0%0.1x
2023-0997.4x₹11799 cr17.9%24.0%0.1x
2023-08100.4x₹11799 cr17.9%24.0%0.1x
2023-07104.4x₹11799 cr17.9%24.0%0.1x
2023-06103.7x₹11799 cr17.9%24.0%0.1x
2023-05109.8x₹9921 cr18.8%25.0%0.1x
2023-04101.8x₹9921 cr18.8%25.0%0.1x
2023-0399.0x₹9921 cr18.8%25.0%0.1x
2023-0296.8x₹9921 cr18.8%25.0%0.1x
2023-0195.9x₹9921 cr18.8%25.0%0.1x
2022-12107.3x₹9921 cr18.8%25.0%0.1x
2022-11115.7x₹9921 cr18.8%25.0%0.1x
2022-10108.8x₹9921 cr18.8%25.0%0.1x
2022-09113.2x₹9921 cr18.8%25.0%0.1x
2022-08115.2x₹9921 cr18.8%25.0%0.1x
2022-07103.2x₹9921 cr18.8%25.0%0.1x
2022-0688.0x₹9921 cr18.8%25.0%0.1x
2022-05100.9x₹7293 cr20.1%28.0%0.1x
2022-04108.9x₹7293 cr20.1%28.0%0.1x
2022-03110.3x₹7293 cr20.1%28.0%0.1x
2022-02108.0x₹7293 cr20.1%28.0%0.1x
2022-01110.4x₹7293 cr20.1%28.0%0.1x
2021-12110.6x₹7293 cr20.1%28.0%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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