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POLYCAB INDIA LIMITED (POLYCAB)

Producer Manufacturing · Electrical Products · 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.87 / 100
Profitability 78Growth 83Balance 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.60 / 100
Price 24Earnings 61FII/DII 94

Passes these screensQuality CompounderDebt-light & profitableConsistent compounders

Compare withBHARAT HEAVY ELECTRICALSABB INDIASIEMENS

Share price

Closing priceAdjusted for splits and bonus issues.

₹7,832.5 latest close · −18.0% over the last 90 sessions

₹8,000₹9,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹8,000₹9,000Jul 3Sep 4Nov 9

₹7,832.5 month-end · +4.9% over 12 months

₹7,000₹8,000₹9,000₹10,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹7,000₹8,000₹9,000₹10,000Nov '25May '26Nov '26

₹7,832.5 month-end · +48.7% over 3 years

₹4,000₹6,000₹8,000₹10,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹4,000₹6,000₹8,000₹10,000Nov '23May '25Nov '26

₹7,832.5 month-end · +1125.3% since Apr '19

₹0₹5,000₹10,000Apr '19Oct '20Apr '22Nov '23May '25Nov '26 ₹0₹5,000₹10,000Apr '19Feb '23Nov '26

52-week range ₹6663.00 to ₹10126.00 · 1-year volatility 30.9%

Was the rally earned?

+5%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (+5%).
  • The share count barely moved.
Net profit growth: +25 pts. Points of the price return explained by net profit growing (or shrinking).+25 ptsNet profit growthP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21 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: +5%+5%Share priceNet profit growth: +25 pts. Points of the price return explained by net profit growing (or shrinking).+25ProfitP/E change: −21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−21P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +5%+5%Share price
Net profit growth+25 ptsNet profit rose about 28%, which lifts the price.
P/E change-21 ptsThe P/E fell from 50.7x to 41.2x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+49%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 62.1x to 41.2x), which took 50 points back.
  • The share count barely moved.
Net profit growth: +99 pts. Points of the price return explained by net profit growing (or shrinking).+99 ptsNet profit growthP/E change: −50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−50 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: +49%+49%Share priceNet profit growth: +99 pts. Points of the price return explained by net profit growing (or shrinking).+99ProfitP/E change: −50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−50P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +49%+49%Share price
Net profit growth+99 ptsNet profit rose about 124%, which lifts the price.
P/E change-50 ptsThe P/E fell from 62.1x to 41.2x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+240%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 229 points to the rise, while the multiple moved less (P/E 39.0x to 41.2x).
  • The share count barely moved.
Net profit growth: +230 pts. Points of the price return explained by net profit growing (or shrinking).+230 ptsNet profit growthP/E change: +11 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+11 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: +240%+240%Share priceNet profit growth: +230 pts. Points of the price return explained by net profit growing (or shrinking).+230ProfitP/E change: +11 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+11P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +240%+240%Share price
Net profit growth+230 ptsNet profit rose about 224%, which lifts the price.
P/E change+11 ptsThe P/E rose from 39.0x to 41.2x, which lifts 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 BHARAT HEAVY ELECTRICALS

How rough has the ride been?

Maximum drawdown-50.2%recovered 2021-01
1-year volatility30.9%annualised
Beta vs sector index0.933-year daily, correlation 0.54
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−46.1% 0%−20%−40%2020202220242026−46.1%
Largest drawdowns

-50.2% (2020-02 peak to 2020-03 low, recovered 2021-01)

-37.9% (2024-12 peak to 2025-02 low, recovered 2025-09)

-31.9% (2023-12 peak to 2024-01 low, recovered 2024-05)

Most recent volume spikes

2026-09-29: 6.3x the 50-day median, price -1.1% that day

2026-09-04: 5.2x the 50-day median, price -5.8% 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?

41.2xP/E todayWithin its usual range
Against its own history45th percentile
CheapestMedian 42.1xDearest

Usual range 19.2x to 58.6x since 2019-04.

Against Producer Manufacturing41.2x vs 29.6x
This company
41.2x
Sector median
29.6x

39% above the Producer Manufacturing median.

10.6x33.5x56.5x79.5xApr '19Nov '20Jun '22Jan '24Aug '25Nov '2610.6x33.5x56.5x79.5xApr '19Nov '21Jun '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE91stflat vs a year ago
  • Op. margin65th▼ 4 pts vs a year ago
  • Revenue growth81stflat vs a year ago
  • EPS growth69th▼ 5 pts vs a year ago
  • Debt/equity ↓83rdflat vs a year ago
  • Cash cycle ↓81st▲ 10 pts vs a year ago
  • P/E ↓31stflat vs a year ago
  • 12M momentum60th▼ 10 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceBelow delivered growth

At P/E of 41.2x, a holder earning 12%/yr needs earnings to grow about 22.6%/yr for 10 years, then trade at 15x.

Delivered28.1%/yrEPS, last 10 fiscal years · fitted trend
Gap−5.5 ptsimplied minus delivered
Rank635thmost demanding of 856

Over time

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

0%18%36% Apr 2019Nov 2026 0%18%36% Apr 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.0%25.1%26.2%
15x21.5%22.6%23.7%
20x18.2%19.3%20.4%

Drag a slider to test other assumptions

Implied: 22.6%/yr

Looking back

  • Jan 2020Price implied 19%/yr; EPS has since grown 26%/yr (7.0 yrs)
  • Jan 2021Price implied 17%/yr; EPS has since grown 23%/yr (6.0 yrs)
  • Jan 2022Price implied 24%/yr; EPS has since grown 25%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹7832.50
P/E
41.2x
ROCE
33.0%
Market Cap
₹1.18L cr
Revenue (TTM)
₹31187 cr
P/S
3.8x
P/B
9.8x
ROE
23.9%
Operating Margin
14.0%
Debt / Equity
0.0x
Promoter Holding
61.5%
12M Momentum
4.9%

52-week range

₹6663.00₹10126.00
34% of the way from its 52-week low to its high

Price risk

1Y volatility
30.9%
Beta vs sector
1-year daily
0.89

Balance sheet & cash

Interest cover
operating profit ÷ interest
15.2x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.05x
Share count, 1Y
+0.7%

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance7%Within range

Other income as a share of pre-tax profit (trailing twelve months): 6.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.05xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.05x (cash from operations ₹6,916 cr, net profit ₹6,557 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+7 daysWithin range

Debtor days are above the median of the previous three fiscal years by 7 days (48 vs 41). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress30% of fixed assetsWithin range

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

Payable days+26 days / 2 yrsWithin range

Days payable changed by +26 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, FIIs added 6.6 pts; promoters trimmed 4.4 pts.
  • The number of shareholders rose from 3.2 lakh to 3.6 lakh (+12%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters65.9%61.5%-4.4 pts
FIIs12.4%19.0%+6.6 pts
DIIs8.1%7.6%-0.5 pts
Public and others13.6%11.9%-1.7 pts

Number of shareholders

3.6 lakhshareholders+12% since Sep '23
3.2L3.5L3.9L4.3L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 3.2 lakh
Dec '23: 3.4 lakh
Mar '24: 4.2 lakh
Jun '24: 3.9 lakh
Sep '24: 3.8 lakh
Dec '24: 3.7 lakh
Mar '25: 4.3 lakh
Jun '25: 4.0 lakh
Sep '25: 3.7 lakh
Dec '25: 3.6 lakh
Mar '26: 3.6 lakh
Jun '26: 3.6 lakh
 3.2L3.5L3.9L4.3L Sep '23Sep '24Sep '25Jun '26
Sep '23: 3.2 lakh
Dec '23: 3.4 lakh
Mar '24: 4.2 lakh
Jun '24: 3.9 lakh
Sep '24: 3.8 lakh
Dec '24: 3.7 lakh
Mar '25: 4.3 lakh
Jun '25: 4.0 lakh
Sep '25: 3.7 lakh
Dec '25: 3.6 lakh
Mar '26: 3.6 lakh
Jun '26: 3.6 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

−9.4%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like POLYCAB INDIA 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 +4% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −6.8%, 80% range −13.4% to −4.2%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−60%−40%−20%0%+20%+40%
LUXIND · Nov 2021: −59.4% vs market
KPITTECH · Oct 2025: −52.0% vs market
SUZLON · Oct 2025: −39.6% vs market
BSOFT · Mar 2022: −39.5% vs market
CERA · Oct 2023: −39.2% vs market
WHIRLPOOL · Aug 2020: −36.9% vs market
MPHASIS · Nov 2021: −36.8% vs market
SIEMENS · Aug 2024: −36.7% vs market
ARE&M · Jun 2020: −29.9% vs market
GRINDWELL · Dec 2023: −29.9% vs market
RATNAMANI · Jan 2024: −26.0% vs market
KAJARIACER · Apr 2023: −25.6% vs market
EMAMILTD · Jul 2021: −25.2% vs market
PETRONET · Feb 2020: −23.7% vs market
VESUVIUS · Oct 2025: −22.8% vs market
EXIDEIND · Mar 2020: −22.4% vs market
DEEPAKNTR · Jun 2023: −21.4% vs market
CROMPTON · Apr 2021: −19.2% vs market
SUPREMEIND · Jun 2021: −18.4% vs market
COROMANDEL · Oct 2025: −15.6% vs market
IGL · Aug 2020: −13.1% vs market
HCLTECH · Jan 2021: −11.6% vs market
AIAENG · Jun 2023: −10.9% vs market
EICHERMOT · Jun 2023: −10.9% vs market
JBCHEPHARM · Jul 2021: −9.8% vs market
BIKAJI · Dec 2024: −8.9% vs market
TIINDIA · Jul 2023: −8.9% vs market
APLAPOLLO · May 2023: −7.7% vs market
ACC · Jun 2020: −7.5% vs market
MANKIND · May 2025: −5.8% vs market
CARBORUNIV · Nov 2023: −5.2% vs market
COFORGE · Feb 2022: −4.3% vs market
KSB · Aug 2024: −3.5% vs market
BLUESTARCO · Jun 2024: −2.0% vs market
AJANTPHARM · Dec 2020: +1.4% vs market
PERSISTENT · Jul 2025: +2.1% vs market
KEI · Sep 2024: +2.4% vs market
ATUL · Dec 2020: +4.1% vs market
CENTURYPLY · Jun 2022: +4.8% vs market
BAJAJ-AUTO · Feb 2025: +9.6% vs market
ABBOTINDIA · May 2022: +12.3% vs market
WIPRO · Feb 2021: +12.9% vs market
VOLTAS · Jun 2020: +14.5% vs market
TECHM · Jul 2020: +15.4% vs market
HAVELLS · May 2020: +19.3% vs market
LTTS · May 2021: +19.6% vs market
SCHAEFFLER · Feb 2025: +20.6% vs market
CUMMINSIND · Nov 2024: +23.8% vs market
CGPOWER · Oct 2023: +29.6% vs market
INFY · Jan 2020: +34.1% vs market
Similar setups −9.4%All companies −2.6%← 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
−9.4%
All companies' median
−2.6%
Beat the market
32% vs 47%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MPHASIS
Technology Services		 Nov 2021 42x25% +125%−19% −37%
PERSISTENT
Technology Services		 Jul 2025 57x31% +7%−23% +2%
KEI
Producer Manufacturing		 Sep 2024 64x27% +62%−11% +2%
HAVELLS
Producer Manufacturing		 May 2020 39x29% −34%−38% +19%
BAJAJ-AUTO
Consumer Durables		 Feb 2025 29x34% 0%−38% +10%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
LTTS
Technology Services		 May 2021 35x43% +131%−7% +20%
IGL
Utilities		 Aug 2020 22x31% +18%−25% −13%
COFORGE
Technology Services		 Feb 2022 60x25% +78%−26% −4%
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/E. 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 POLYCAB INDIA 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.

COFORGECOFORGE
Technology Services
67%similar
revenue growthP/E
EICHER MOTORSEICHERMOT
Consumer Durables
65%similar
debt/equityrevenue
BHARAT ELECTRONICSBEL
Electronic Technology
64%similar
revenueROCE
MARUTI SUZUKI INDIAMARUTI
Consumer Durables
63%similar
revenuemarket cap
VARUN BEVERAGESVBL
Consumer Non-Durables
63%similar
market caprevenue
CUMMINS INDIACUMMINSIND
Producer Manufacturing
71%similar
market capROCE
MOTHERSON SUMI WIRING INDMSUMI
Producer Manufacturing
64%similar
P/Epromoter holding
ACTION CONSTRUCTION EQUIPMENTSACE
Producer Manufacturing
63%similar
ROCEEPS growth

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

What changed?

30 events since Nov '22

  1. OctPriceFell 26% from the Jun 2026 peak to the Oct 2026 low.
  2. SepPriceVolume reached 6.3x its 50-day median on 2026-09-29; price -1.1% that day.
  3. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
  4. JanPriceVolume reached 8.3x its 50-day median on 2026-01-14; price -3.1% that day.
  5. DecInstitutionsFII + DII holding rose 3.6 pts over 2 quarters to 25.7%.
  6. DecPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  7. DecPriceVolume reached 9.6x its 50-day median on 2025-12-17; price -3.8% that day.
  8. SepPriceRegained the 2024-12 peak, 7 months after the low.
Show 22 earlier events
  1. JulPriceVolume reached 5.6x its 50-day median on 2025-07-18; price +0.6% that day.
  2. MayPriceVolume reached 6.4x its 50-day median on 2025-05-06; price +1.9% that day.
  3. MarPeer rankMoved into the 2nd quartile of Producer Manufacturing on operating margin (from the 3rd quartile).
  4. FebPriceFell 38% from the Dec 2024 peak to the Feb 2025 low.
  5. FebPriceVolume reached 18.3x its 50-day median on 2025-02-28; price +0.7% that day.
  6. DecInstitutionsFII + DII holding rose 3.6 pts over 2 quarters to 22.8%.
  7. DecPeer rankSlipped to the 3rd quartile of Producer Manufacturing on operating margin (from the 2nd quartile).
  8. NovValuationP/E crossed above the 90th percentile of its own history to date (61.6x).
  9. OctPriceVolume reached 5.6x its 50-day median on 2024-10-18; price -0.0% that day.
  10. JunResultsRevenue (TTM) reached a new high of ₹18,039 cr.
  11. JunPriceVolume reached 22.0x its 50-day median on 2024-06-28; price -3.6% that day.
  12. MayPriceRegained the 2023-12 peak, 4 months after the low.
  13. MarValuationP/E crossed above the 90th percentile of its own history to date (59.7x).
  14. JanPriceFell 32% from the Dec 2023 peak to the Jan 2024 low.
  15. JanPriceVolume reached 51.9x its 50-day median on 2024-01-11; price -21.0% that day.
  16. NovPriceVolume reached 12.5x its 50-day median on 2023-11-30; price +2.0% that day.
  17. JulValuationP/E crossed above the 90th percentile of its own history to date (56.8x).
  18. JulPriceVolume reached 19.7x its 50-day median on 2023-07-20; price +9.5% that day.
  19. JunResultsRevenue (TTM) reached a new high of ₹14,108 cr.
  20. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  21. MayPriceVolume reached 8.2x its 50-day median on 2023-05-31; price -1.7% that day.
  22. NovPriceVolume reached 12.2x its 50-day median on 2022-11-18; price -1.7% 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
2026-1141.2x₹31187 cr23.9%33.0%0.0x
2026-1040.9x₹31187 cr24.2%33.0%0.0x
2026-0942.2x₹31187 cr24.2%33.0%0.0x
2026-0853.2x₹28883 cr22.6%33.0%0.0x
2026-0751.3x₹28883 cr22.6%33.0%0.0x
2026-0656.1x₹28883 cr22.6%33.0%0.0x
2026-0554.3x₹27005 cr27.0%30.0%0.0x
2026-0446.5x₹27005 cr27.0%30.0%0.0x
2026-0339.2x₹27005 cr27.0%30.0%0.0x
2026-0252.6x₹24595 cr25.4%30.0%0.0x
2026-0142.9x₹24595 cr25.4%30.0%0.0x
2025-1246.6x₹24595 cr25.4%30.0%0.0x
2025-1150.7x₹23616 cr22.8%30.0%0.0x
2025-1052.3x₹23616 cr22.8%30.0%0.0x
2025-0949.5x₹23616 cr22.8%30.0%0.0x
2025-0852.8x₹22408 cr20.8%30.0%0.0x
2025-0750.8x₹22408 cr20.8%30.0%0.0x
2025-0648.8x₹22408 cr20.8%30.0%0.0x
2025-0549.0x₹21014 cr22.8%31.0%0.0x
2025-0445.1x₹21014 cr22.8%31.0%0.0x
2025-0342.1x₹21014 cr22.8%31.0%0.0x
2025-0239.5x₹20128 cr22.2%31.0%0.0x
2025-0150.6x₹20128 cr22.2%31.0%0.0x
2024-1260.9x₹20128 cr22.2%31.0%0.0x
2024-1161.6x₹18848 cr22.0%31.0%0.0x
2024-1054.7x₹18848 cr22.0%31.0%0.0x
2024-0958.7x₹18848 cr22.0%31.0%0.0x
2024-0857.4x₹18039 cr22.0%31.0%0.0x
2024-0757.8x₹18039 cr22.0%31.0%0.0x
2024-0656.8x₹18039 cr22.0%31.0%0.0x
2024-0579.5x₹14108 cr19.3%27.0%0.0x
2024-0466.8x₹14108 cr19.3%27.0%0.0x
2024-0359.7x₹14108 cr19.3%27.0%0.0x
2024-0256.0x₹14108 cr19.3%27.0%0.0x
2024-0151.2x₹14108 cr19.3%27.0%0.0x
2023-1264.7x₹14108 cr19.3%27.0%0.0x
2023-1162.1x₹14108 cr19.3%27.0%0.0x
2023-1058.0x₹14108 cr19.3%27.0%0.0x
2023-0963.0x₹14108 cr19.3%27.0%0.0x
2023-0860.4x₹14108 cr19.3%27.0%0.0x
2023-0756.8x₹14108 cr19.3%27.0%0.0x
2023-0641.9x₹14108 cr19.3%27.0%0.0x
2023-0556.3x₹12204 cr16.5%21.0%0.0x
2023-0452.7x₹12204 cr16.5%21.0%0.0x
2023-0347.4x₹12204 cr16.5%21.0%0.0x
2023-0250.7x₹12204 cr16.5%21.0%0.0x
2023-0148.0x₹12204 cr16.5%21.0%0.0x
2022-1242.3x₹12204 cr16.5%21.0%0.0x
2022-1142.2x₹12204 cr16.5%21.0%0.0x
2022-1045.7x₹12204 cr16.5%21.0%0.0x
2022-0942.1x₹12204 cr16.5%21.0%0.0x
2022-0840.6x₹12204 cr16.5%21.0%0.0x
2022-0738.1x₹12204 cr16.5%21.0%0.0x
2022-0636.2x₹12204 cr16.5%21.0%0.0x
2022-0541.3x₹8792 cr18.6%23.0%0.1x
2022-0442.0x₹8792 cr18.6%23.0%0.1x
2022-0340.0x₹8792 cr18.6%23.0%0.1x
2022-0240.1x₹8792 cr18.6%23.0%0.1x
2022-0142.7x₹8792 cr18.6%23.0%0.1x
2021-1241.7x₹8792 cr18.6%23.0%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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