अApnaFunda
Menu

P I INDUSTRIES LTD (PIIND)

Process Industries · Chemicals: Specialty · 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.72 / 100
Profitability 77Growth 39Balance 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.24 / 100
Price 1Earnings 12FII/DII 60
Compare withLINDE INDIACOROMANDEL INTERNATIONAL LIMITGUJARAT FLUOROCHEMICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,712.9 latest close · −35.3% over the last 90 sessions

₹2,000₹2,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹2,000₹2,500Jul 3Sep 4Nov 9

₹1,712.9 month-end · −49.6% over 12 months

₹2,000₹3,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹2,000₹3,000Nov '25May '26Nov '26

₹1,712.9 month-end · −54.6% over 3 years

₹2,000₹3,000₹4,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹2,000₹3,000₹4,000Nov '23May '25Nov '26

₹1,712.9 month-end · +100.9% since Jan '19

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

52-week range ₹1699.40 to ₹3832.90 · 1-year volatility 36.6%

Was the rally earned?

-50%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings took off 23 points and the multiple took off 26 points (P/E 32.0x to 22.3x).
  • 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 price: −50%−50%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 price: −50%−50%Share price
Net profit growth-23 ptsNet profit fell about 28%, which lowers the price.
P/E change-26 ptsThe P/E fell from 32.0x to 22.3x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-55%share price, 3 yearsMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 46.5x to 22.3x); per-share earnings took off 4 points.
  • The share count barely moved.
Net profit growth: −4 pts. Points of the price return explained by net profit growing (or shrinking).−4 ptsNet profit growthP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51 ptsP/E changeShare price: −55%−55%Share priceNet profit growth: −4 pts. Points of the price return explained by net profit growing (or shrinking).−4ProfitP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51P/EShare price: −55%−55%Share price
Net profit growth-4 ptsNet profit fell about 5%, which lowers the price.
P/E change-51 ptsThe P/E fell from 46.5x to 22.3x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-40%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 36 points, but investors now pay less per rupee of profit (P/E 59.0x to 22.3x), which took 76 points back.
  • The share count barely moved.
Net profit growth: +36 pts. Points of the price return explained by net profit growing (or shrinking).+36 ptsNet profit growthP/E change: −76 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−76 ptsP/E changeShare price: −40%−40%Share priceNet profit growth: +36 pts. Points of the price return explained by net profit growing (or shrinking).+36ProfitP/E change: −76 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−76P/EShare price: −40%−40%Share price
Net profit growth+36 ptsNet profit rose about 58%, which lifts the price.
P/E change-76 ptsThe P/E fell from 59.0x to 22.3x, 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 LINDE INDIA

How rough has the ride been?

Maximum drawdown-63.8%not yet recovered
1-year volatility36.6%annualised
Beta vs sector index0.793-year daily, correlation 0.46
Volume spikes7last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−63.8% 0%−20%−40%−60%2020202220242026−63.8%
Largest drawdowns

-63.8% (2024-10 peak to 2026-11 low, not yet recovered)

-36.8% (2020-02 peak to 2020-03 low, recovered 2020-06)

-32.3% (2021-09 peak to 2022-01 low, recovered 2022-11)

Most recent volume spikes

2026-11-09: 8x the 50-day median, price -2.2% that day

2026-11-06: 7.2x the 50-day median, price -2.0% that day

2026-11-05: 51.2x the 50-day median, price -19.1% 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?

22.3xP/E todayNear its historic low
Against its own history1st percentile
CheapestMedian 45.1xDearest

Usual range 30.9x to 64.1x since 2019-01.

Against Process Industries22.3x vs 18.1x
This company
22.3x
Sector median
18.1x

23% above the Process Industries median.

6.8x30.9x55.0x79.1xJan '19Aug '20Mar '22Oct '23May '25Nov '266.8x30.9x55.0x79.1xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

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

  • ROCE67th▼ 19 pts vs a year ago
  • Op. margin87th▼ 7 pts vs a year ago
  • Revenue growth7th▼ 20 pts vs a year ago
  • EPS growth21st▼ 18 pts vs a year ago
  • Debt/equity ↓85th▼ 5 pts vs a year ago
  • Cash cycle ↓45th▼ 37 pts vs a year ago
  • P/E ↓41st▲ 8 pts vs a year ago
  • 12M momentum5th▼ 55 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?

~14%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 19.3x, a holder earning 12%/yr needs earnings to grow about 13.9%/yr for 10 years, then trade at 15x.

Delivered19.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−5.8 ptsimplied minus delivered
Rank641stmost 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%
12x15.3%16.3%17.4%
15x12.9%13.9%14.9%
20x9.8%10.8%11.8%

Drag a slider to test other assumptions

Implied: 13.9%/yr

Looking back

  • Jan 2020Price implied 28%/yr; EPS has since grown 17%/yr (7.0 yrs)
  • Jan 2021Price implied 30%/yr; EPS has since grown 18%/yr (6.0 yrs)
  • Jan 2022Price implied 31%/yr; EPS has since grown 12%/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
₹1712.90
P/E
22.3x
ROCE
15.0%
Market Cap
₹25988 cr
Revenue (TTM)
₹6515 cr
P/S
4.0x
P/B
2.3x
ROE
10.4%
Operating Margin
22.0%
Debt / Equity
0.0x
Promoter Holding
46.1%
12M Momentum
-49.6%

52-week range

₹1699.40₹3832.90
1% of the way from its 52-week low to its high

Price risk

1Y volatility
36.6%
Beta vs sector
1-year daily
0.86

Balance sheet & cash

Interest cover
operating profit ÷ interest
72.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.84x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance26%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 26.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.84xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.84x (cash from operations ₹3,923 cr, net profit ₹4,663 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

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+44 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 44 days (88 vs 44). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress22% of fixed assetsWithin range

Capital work-in-progress is 22% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+6 days / 2 yrsWithin range

Days payable changed by +6 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 8.4 pts; FIIs trimmed 5.2 pts.
  • The number of shareholders fell from 1.6 lakh to 1.4 lakh (-11%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters46.1%46.1%0.0 pts
FIIs20.0%14.8%-5.2 pts
DIIs23.1%31.5%+8.4 pts
Public and others10.6%7.4%-3.2 pts

Number of shareholders

1.4 lakhshareholders-11% since Sep '23
1.3L1.5L1.7L1.8L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 1.6 lakh
Dec '23: 1.8 lakh
Mar '24: 1.6 lakh
Jun '24: 1.6 lakh
Sep '24: 1.5 lakh
Dec '24: 1.6 lakh
Mar '25: 1.7 lakh
Jun '25: 1.5 lakh
Sep '25: 1.4 lakh
Dec '25: 1.3 lakh
Mar '26: 1.3 lakh
Jun '26: 1.4 lakh
 1.3L1.5L1.7L1.8L Sep '23Sep '24Sep '25Jun '26
Sep '23: 1.6 lakh
Dec '23: 1.8 lakh
Mar '24: 1.6 lakh
Jun '24: 1.6 lakh
Sep '24: 1.5 lakh
Dec '24: 1.6 lakh
Mar '25: 1.7 lakh
Jun '25: 1.5 lakh
Sep '25: 1.4 lakh
Dec '25: 1.3 lakh
Mar '26: 1.3 lakh
Jun '26: 1.4 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

+11.2%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like P I 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 −14% to +30% vs the market, against −4% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +15.1%, 80% range +8.9% to +18.5%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−50%0%+50%+100%
ZEEL · May 2023: −46.8% vs market
JYOTHYLAB · Sep 2025: −41.1% vs market
PRINCEPIPE · Aug 2024: −41.1% vs market
BALAMINES · Dec 2024: −40.6% vs market
DELTACORP · Dec 2024: −40.3% vs market
RELAXO · Oct 2025: −34.0% vs market
TTKPRESTIG · Sep 2023: −23.0% vs market
LAOPALA · Jun 2024: −20.3% vs market
CHEMCON · Jun 2022: −20.3% vs market
TECHNOE · Dec 2020: −17.2% vs market
JUSTDIAL · Nov 2021: −16.3% vs market
ATUL · Nov 2023: −14.5% vs market
BHARATRAS · Jul 2023: −14.3% vs market
WHIRLPOOL · Sep 2022: −14.3% vs market
RITES · Feb 2025: −11.4% vs market
SANOFI · Jul 2024: −6.4% vs market
ACC · May 2023: −0.2% vs market
CARBORUNIV · May 2025: +1.5% vs market
DIVGIITTS · Jul 2024: +1.6% vs market
SUNTECK · May 2020: +4.5% vs market
KSCL · Jul 2022: +4.7% vs market
SUPRIYA · Jun 2023: +6.7% vs market
VAIBHAVGBL · Nov 2022: +10.9% vs market
GLAND · Jul 2023: +11.0% vs market
HINDCOPPER · Jun 2022: +11.0% vs market
ADVENZYMES · Aug 2022: +11.4% vs market
AIAENG · Dec 2024: +11.8% vs market
IPCALAB · May 2023: +14.5% vs market
SIEMENS · May 2025: +15.1% vs market
GREAVESCOT · Nov 2020: +16.0% vs market
AUROPHARMA · Jun 2022: +18.1% vs market
ENDURANCE · Mar 2022: +19.4% vs market
RAILTEL · Jun 2022: +19.5% vs market
JUBLINGREA · Oct 2023: +22.5% vs market
VOLTAS · Apr 2023: +24.9% vs market
ESCORTS · May 2021: +28.7% vs market
AEGISLOG · Nov 2021: +29.8% vs market
GRINDWELL · Jul 2025: +30.6% vs market
LMW · Jan 2020: +36.4% vs market
THYROCARE · Nov 2023: +38.2% vs market
CARERATING · Jun 2022: +39.3% vs market
GPPL · Jul 2022: +39.4% vs market
CUMMINSIND · Jun 2020: +40.3% vs market
IGL · Apr 2022: +42.5% vs market
ROLEXRINGS · Sep 2025: +46.1% vs market
GMDCLTD · Nov 2024: +50.4% vs market
NEWGEN · Jun 2022: +58.1% vs market
BSOFT · Nov 2022: +80.6% vs market
BDL · Jun 2021: +90.2% vs market
SONACOMS · Sep 2025: +100.5% vs market
Similar setups +11.2%All companies −3.9%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
+11.2%
All companies' median
−3.9%
Beat the market
66% vs 46%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BDL
Electronic Technology		 Jun 2021 26x13% +7%−22% +90%
BALAMINES
Process Industries		 Dec 2024 29x17% −33%−34% −41%
SANOFI
Health Technology		 Jul 2024 27x— +5%−27% −6%
SUPRIYA
Health Technology		 Jun 2023 22x19% −31%−38% +7%
SIEMENS
Producer Manufacturing		 May 2025 41x17% −39%−46% +15%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ACC
Non-Energy Minerals		 May 2023 18x19% −19%−35% 0%
IGL
Utilities		 Apr 2022 21x24% −31%−40% +43%
GLAND
Health Technology		 Jul 2023 28x15% −42%−49% +11%
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/E 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 P I 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.

SAGILITYSAGILITY
Technology Services
77%similar
operating marginrevenue
CONTAINER CORPORATION OF INDIACONCOR
Transportation
72%similar
operating marginmarket cap
AIA ENGINEERINGAIAENG
Producer Manufacturing
66%similar
market capP/E
USHA MARTINUSHAMART
Producer Manufacturing
65%similar
operating marginpromoter holding
GODAWARI POWER AND ISPATGPIL
Non-Energy Minerals
63%similar
revenue growthrevenue
DEEPAK NITRITEDEEPAKNTR
Process Industries
65%similar
EPS growthoperating margin
KRBLKRBL
Process Industries
64%similar
ROCEdebt/equity
ATULATUL
Process Industries
62%similar
ROCErevenue

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

What changed?

30 events since Jan '22

  1. NovPriceFell 64% from the Oct 2024 peak to the Nov 2026 low.
  2. NovPriceVolume reached 51.2x its 50-day median on 2026-11-05; price -19.1% that day.
  3. SepPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
  4. AugPriceVolume reached 10.1x its 50-day median on 2026-08-12; price -9.0% that day.
  5. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  6. MayPriceVolume reached 9.9x its 50-day median on 2026-05-20; price -7.1% that day.
  7. FebPriceVolume reached 8.4x its 50-day median on 2026-02-13; price -2.2% that day.
  8. NovPriceVolume reached 7.3x its 50-day median on 2025-11-12; price -5.2% that day.
Show 22 earlier events
  1. AugValuationP/E fell below the 10th percentile of its own history to date (33.8x).
  2. AugPriceVolume reached 7.1x its 50-day median on 2025-08-13; price -1.7% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the top quartile).
  5. AprPriceVolume reached 5.6x its 50-day median on 2025-04-11; price +9.5% that day.
  6. NovPriceVolume reached 9.2x its 50-day median on 2024-11-14; price -4.1% that day.
  7. OctValuationP/E fell below the 10th percentile of its own history to date (39.0x).
  8. JunResultsRevenue (TTM) reached a new high of ₹7,666 cr.
  9. JunValuationP/E fell below the 10th percentile of its own history to date (34.3x).
  10. DecPriceVolume reached 19.1x its 50-day median on 2023-12-13; price -1.6% that day.
  11. AugPriceVolume reached 5.1x its 50-day median on 2023-08-10; price -0.1% that day.
  12. JunResultsRevenue (TTM) reached a new high of ₹6,492 cr.
  13. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  14. AprPriceVolume reached 10.7x its 50-day median on 2023-04-28; price +10.4% that day.
  15. FebPriceVolume reached 15.5x its 50-day median on 2023-02-16; price +8.2% that day.
  16. NovPriceRegained the 2021-09 peak, 10 months after the low.
  17. NovPriceVolume reached 18.6x its 50-day median on 2022-11-09; price +9.9% that day.
  18. AugPriceVolume reached 8.5x its 50-day median on 2022-08-04; price +3.7% that day.
  19. JunResultsRevenue (TTM) reached a new high of ₹5,300 cr.
  20. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  21. MayPriceVolume reached 5.5x its 50-day median on 2022-05-31; price +1.5% that day.
  22. JanPriceFell 32% from the Sep 2021 peak to the Jan 2022 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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1122.3x₹6515 cr10.4%15.0%0.0x
2026-1027.3x₹6515 cr10.4%15.0%0.0x
2026-0930.1x₹6515 cr10.4%15.0%0.0x
2026-0827.2x₹6713 cr11.8%15.0%0.0x
2026-0731.6x₹6713 cr11.8%15.0%0.0x
2026-0629.3x₹6713 cr11.8%15.0%0.0x
2026-0529.0x₹6935 cr14.3%23.0%0.0x
2026-0431.9x₹6935 cr14.3%23.0%0.0x
2026-0328.4x₹6935 cr14.3%23.0%0.0x
2026-0231.3x₹7460 cr14.9%23.0%0.0x
2026-0132.1x₹7460 cr14.9%23.0%0.0x
2025-1232.5x₹7460 cr14.9%23.0%0.0x
2025-1132.0x₹7809 cr15.9%23.0%0.0x
2025-1033.7x₹7809 cr15.9%23.0%0.0x
2025-0933.1x₹7809 cr15.9%23.0%0.0x
2025-0833.8x₹7978 cr16.3%23.0%0.0x
2025-0738.8x₹7978 cr16.3%23.0%0.0x
2025-0637.5x₹7978 cr16.3%23.0%0.0x
2025-0534.1x₹7932 cr19.5%24.0%0.0x
2025-0432.5x₹7932 cr19.5%24.0%0.0x
2025-0330.6x₹7932 cr19.5%24.0%0.0x
2025-0225.8x₹7929 cr20.3%24.0%0.0x
2025-0129.8x₹7929 cr20.3%24.0%0.0x
2024-1231.5x₹7929 cr20.3%24.0%0.0x
2024-1135.3x₹7825 cr20.0%24.0%0.0x
2024-1039.0x₹7825 cr20.0%24.0%0.0x
2024-0940.4x₹7825 cr20.0%24.0%0.0x
2024-0840.6x₹7666 cr19.3%24.0%0.0x
2024-0740.0x₹7666 cr19.3%24.0%0.0x
2024-0634.3x₹7666 cr19.3%24.0%0.0x
2024-0543.7x₹6492 cr17.1%22.0%0.0x
2024-0445.1x₹6492 cr17.1%22.0%0.0x
2024-0347.7x₹6492 cr17.1%22.0%0.0x
2024-0245.3x₹6492 cr17.1%22.0%0.0x
2024-0141.6x₹6492 cr17.1%22.0%0.0x
2023-1243.4x₹6492 cr17.1%22.0%0.0x
2023-1146.5x₹6492 cr17.1%22.0%0.0x
2023-1042.0x₹6492 cr17.1%22.0%0.0x
2023-0942.6x₹6492 cr17.1%22.0%0.0x
2023-0844.8x₹6492 cr17.1%22.0%0.0x
2023-0744.6x₹6492 cr17.1%22.0%0.0x
2023-0648.4x₹6492 cr17.1%22.0%0.0x
2023-0565.0x₹5300 cr13.8%17.0%0.1x
2023-0460.9x₹5300 cr13.8%17.0%0.1x
2023-0354.5x₹5300 cr13.8%17.0%0.1x
2023-0255.7x₹5300 cr13.8%17.0%0.1x
2023-0153.9x₹5300 cr13.8%17.0%0.1x
2022-1261.5x₹5300 cr13.8%17.0%0.1x
2022-1162.8x₹5300 cr13.8%17.0%0.1x
2022-1058.3x₹5300 cr13.8%17.0%0.1x
2022-0953.9x₹5300 cr13.8%17.0%0.1x
2022-0861.8x₹5300 cr13.8%17.0%0.1x
2022-0755.6x₹5300 cr13.8%17.0%0.1x
2022-0646.0x₹5300 cr13.8%17.0%0.1x
2022-0556.7x₹4577 cr13.8%22.0%0.1x
2022-0458.5x₹4577 cr13.8%22.0%0.1x
2022-0357.9x₹4577 cr13.8%22.0%0.1x
2022-0250.7x₹4577 cr13.8%22.0%0.1x
2022-0150.0x₹4577 cr13.8%22.0%0.1x
2021-1262.4x₹4577 cr13.8%22.0%0.1x
2021-1159.0x₹4577 cr13.8%22.0%0.1x
2021-1061.7x₹4577 cr13.8%22.0%0.1x
2021-0965.3x₹4577 cr13.8%22.0%0.1x
2021-0869.7x₹4577 cr13.8%22.0%0.1x
2021-0760.6x₹4577 cr13.8%22.0%0.1x
2021-0659.8x₹4577 cr13.8%22.0%0.1x
2021-0579.1x₹3366 cr17.4%23.0%0.2x
2021-0476.0x₹3366 cr17.4%23.0%0.2x
2021-0368.3x₹3366 cr17.4%23.0%0.2x
2021-0265.9x₹3366 cr17.4%23.0%0.2x
2021-0161.1x₹3366 cr17.4%23.0%0.2x
2020-1266.4x₹3366 cr17.4%23.0%0.2x
2020-1166.8x₹3366 cr17.4%23.0%0.2x
2020-1066.5x₹3366 cr17.4%23.0%0.2x
2020-0959.6x₹3366 cr17.4%23.0%0.2x
2020-0855.6x₹3366 cr17.4%23.0%0.2x
2020-0753.3x₹3366 cr17.4%23.0%0.2x
2020-0645.5x₹3366 cr17.4%23.0%0.2x
2020-0551.8x₹2841 cr17.9%25.0%0.0x
2020-0453.5x₹2841 cr17.9%25.0%0.0x
2020-0339.4x₹2841 cr17.9%25.0%0.0x
2020-0251.5x₹2841 cr17.9%25.0%0.0x
2020-0152.4x₹2841 cr17.9%25.0%0.0x
2019-1248.7x₹2841 cr17.9%25.0%0.0x
2019-1149.9x₹2841 cr17.9%25.0%0.0x
2019-1048.1x₹2841 cr17.9%25.0%0.0x
2019-0944.0x₹2841 cr17.9%25.0%0.0x
2019-0838.4x₹2841 cr17.9%25.0%0.0x
2019-0737.0x₹2841 cr17.9%25.0%0.0x
2019-0639.5x₹2841 cr17.9%25.0%0.0x
2019-0542.7x₹2277 cr19.1%25.0%0.0x
2019-0439.2x₹2277 cr19.1%25.0%0.0x
2019-0338.7x₹2277 cr19.1%25.0%0.0x
2019-0234.6x₹2277 cr19.1%25.0%0.0x
2019-0132.0x₹2277 cr19.1%25.0%0.0x

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.

Feedback