Share price
₹332.45 latest close · +5.5% over the last 90 sessions
₹332.45 month-end · +16.0% over 12 months
₹332.45 month-end · −22.1% over 3 years
₹332.45 month-end · +145.6% since Jan '19
52-week range ₹252.40 to ₹455.00 · 1-year volatility 37.5%
Was the rally earned?
Mostly yes, with a catch.
- Per-share earnings added 123 points, but investors now pay less per rupee of profit (P/E 15.6x to 5.8x), which took 107 points back.
- The share count barely moved.
Earnings helped, the multiple did not.
- Per-share earnings added 23 points, but investors now pay less per rupee of profit (P/E 9.6x to 5.8x), which took 45 points back.
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 82 points, but investors now pay less per rupee of profit (P/E 7.3x to 5.8x), which took 29 points back.
- The share count barely moved.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-56.2% (2024-07 peak to 2026-01 low, not yet recovered)
-49.9% (2020-01 peak to 2020-03 low, recovered 2020-08)
-46.0% (2021-07 peak to 2021-12 low, recovered 2022-12)
Is it expensive against its own past and its peers?
Usual range 4.7x to 15.0x since 2019-01.
68% below the Process Industries median.
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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.
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
- ROCE31st▲ 11 pts vs a year ago
- Op. margin7th▲ 4 pts vs a year ago
- Revenue growth80th▲ 61 pts vs a year ago
- EPS growth95th▲ 82 pts vs a year ago
- Debt/equity ↓98thflat vs a year ago
- Cash cycle ↓28th▲ 6 pts vs a year ago
- P/E ↓94th▲ 28 pts vs a year ago
- 12M momentum76th▲ 46 pts vs a year ago
Rank history
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?
At a P/E of 8.0x, the price would imply about 3.9%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Below the ₹1,000 cr market-cap floor used for the lists.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹332.45
- P/E
- 5.8x
- ROCE
- 7.0%
- Market Cap
- ₹286 cr
- Revenue (TTM)
- ₹447 cr
- P/S
- 0.6x
- P/B
- 0.5x
- ROE
- 8.7%
- Operating Margin
- -1.9%
- Debt / Equity
- 0.0x
- Promoter Holding
- 47.3%
- 12M Momentum
- 16.0%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance67%Beyond threshold
Other income as a share of pre-tax profit (trailing twelve months): 67.0%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate13%Near threshold
Median quarterly effective tax rate over about 2.5 years: 13.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion0.50xNear threshold
Operating cash flow divided by net profit over the last three fiscal years: 0.50x (cash from operations ₹57 cr, net profit ₹114 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow2 of 5 yrsNear threshold
Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history-10 daysWithin range
Debtor days are below the median of the previous three fiscal years by 10 days (19 vs 29). 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 days0 days / 2 yrsWithin range
Days payable changed by 0 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.
Who has been buying and selling?
- Over 3 years, FIIs trimmed 13.4 pts; promoters added 5.0 pts.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like PONNI SUGARS (ERODE) 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 −20% to +12% vs the market, against −4% for all non-financial companies in the same months.
- The gap against the base rate (−1.6%, 80% range −10.2% to +6.2%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
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
50 past situations · 50 companies · 35 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| JMA Distribution Services |
Apr 2021 | 8x | 12% | +114% | −12% | +54% |
| PODDARMENT Process Industries |
Aug 2023 | 14x | 12% | +39% | −4% | −18% |
| MUNJALSHOW Producer Manufacturing |
Dec 2023 | 17x | 5% | +45% | −7% | −11% |
| GSFC Process Industries |
Nov 2023 | 6x | 13% | +46% | −7% | −10% |
| NAHARPOLY Process Industries |
Aug 2020 | 4x | 10% | +97% | −19% | +132% |
Show the other 3 matches
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, size 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.
What changed?
30 events since Jun '21
- SepResultsRevenue (TTM) reached a new high of ₹447 cr.
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the top quartile).
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
- MarPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the top quartile).
- JanPriceFell 56% from the Jul 2024 peak to the Jan 2026 low.
- DecPeer rankMoved into the top quartile of Process Industries on operating margin (from the bottom quartile).
- SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 2nd quartile).
Show 22 earlier events
- JunValuationP/E crossed above the 90th percentile of its own history to date (14.9x).
- JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- MarPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 2nd quartile).
- DecResultsYear-on-year EPS growth turned negative.
- DecPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the bottom quartile).
- SepPromoterPromoter holding rose 4.9 pts to 47.3%.
- SepInstitutionsFII + DII holding fell 9.3 pts over 2 quarters to 13.6%.
- SepPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
- JulPriceRegained the 2023-01 peak, 16 months after the low.
- AugPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
- JunResultsRevenue (TTM) reached a new high of ₹435 cr.
- JunPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the 3rd quartile).
- MayPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
- MarPriceFell 36% from the Jan 2023 peak to the Mar 2023 low.
- FebPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- DecPriceRegained the 2021-07 peak, 12 months after the low.
- DecPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
- AugPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- JunResultsYear-on-year EPS growth turned positive.
- DecPriceFell 46% from the Jul 2021 peak to the Dec 2021 low.
- JunResultsYear-on-year EPS growth turned negative.
- JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the 2nd quartile).
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
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 5.8x | ₹447 cr | 8.7% | 7.0% | 0.0x |
| 2026-10 | 5.6x | ₹447 cr | 8.8% | 7.0% | 0.0x |
| 2026-09 | 6.5x | ₹447 cr | 8.8% | 7.0% | 0.0x |
| 2026-08 | 7.2x | ₹415 cr | 8.4% | 7.0% | 0.0x |
| 2026-07 | 5.4x | ₹415 cr | 8.4% | 7.0% | 0.0x |
| 2026-06 | 5.5x | ₹415 cr | 8.4% | 7.0% | 0.0x |
| 2026-05 | 10.1x | ₹419 cr | 4.9% | 5.0% | 0.0x |
| 2026-04 | 10.2x | ₹419 cr | 4.9% | 5.0% | 0.0x |
| 2026-03 | 9.1x | ₹419 cr | 4.9% | 5.0% | 0.0x |
| 2026-02 | 12.5x | ₹384 cr | 3.6% | 5.0% | 0.0x |
| 2026-01 | 12.7x | ₹384 cr | 3.6% | 5.0% | 0.0x |
| 2025-12 | 12.0x | ₹384 cr | 3.6% | 5.0% | 0.0x |
| 2025-11 | 15.6x | ₹365 cr | 3.0% | 5.0% | 0.0x |
| 2025-10 | 16.1x | ₹365 cr | 3.0% | 5.0% | 0.0x |
| 2025-09 | 15.5x | ₹365 cr | 3.0% | 5.0% | 0.0x |
| 2025-08 | 12.7x | ₹360 cr | 3.8% | 5.0% | 0.0x |
| 2025-07 | 13.5x | ₹360 cr | 3.8% | 5.0% | 0.0x |
| 2025-06 | 14.9x | ₹360 cr | 3.8% | 5.0% | 0.0x |
| 2025-05 | 10.1x | ₹337 cr | 5.3% | 10.0% | 0.0x |
| 2025-04 | 9.7x | ₹337 cr | 5.3% | 10.0% | 0.0x |
| 2025-03 | 9.2x | ₹337 cr | 5.3% | 10.0% | 0.0x |
| 2025-02 | 6.7x | ₹345 cr | 7.1% | 10.0% | 0.0x |
| 2025-01 | 8.4x | ₹345 cr | 7.1% | 10.0% | 0.0x |
| 2024-12 | 9.3x | ₹345 cr | 7.1% | 10.0% | 0.0x |
| 2024-11 | 8.8x | ₹378 cr | 7.6% | 10.0% | 0.0x |
| 2024-10 | 9.3x | ₹378 cr | 7.6% | 10.0% | 0.0x |
| 2024-09 | 10.5x | ₹378 cr | 7.6% | 10.0% | 0.0x |
| 2024-08 | 9.6x | ₹421 cr | 8.5% | 10.0% | 0.0x |
| 2024-07 | 10.2x | ₹421 cr | 8.5% | 10.0% | 0.0x |
| 2024-06 | 8.8x | ₹421 cr | 8.5% | 10.0% | 0.0x |
| 2024-05 | 9.4x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2024-04 | 9.9x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2024-03 | 9.0x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2024-02 | 9.3x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2024-01 | 9.5x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-12 | 9.2x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-11 | 9.6x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-10 | 9.3x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-09 | 9.6x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-08 | 8.9x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-07 | 8.9x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-06 | 8.6x | ₹435 cr | 8.4% | 12.0% | 0.0x |
| 2023-05 | 11.4x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2023-04 | 13.8x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2023-03 | 11.6x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2023-02 | 12.7x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2023-01 | 13.4x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-12 | 14.3x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-11 | 9.1x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-10 | 8.6x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-09 | 7.3x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-08 | 7.5x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-07 | 7.0x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-06 | 7.2x | ₹288 cr | 7.9% | 10.0% | 0.0x |
| 2022-05 | 8.2x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2022-04 | 8.8x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2022-03 | 7.7x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2022-02 | 7.6x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2022-01 | 8.6x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-12 | 7.2x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-11 | 7.3x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-10 | 7.7x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-09 | 8.1x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-08 | 8.1x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-07 | 9.9x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-06 | 11.6x | ₹256 cr | 8.0% | 10.0% | 0.0x |
| 2021-05 | 5.7x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2021-04 | 4.9x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2021-03 | 4.1x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2021-02 | 4.0x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2021-01 | 4.3x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-12 | 4.5x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-11 | 4.4x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-10 | 4.2x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-09 | 4.2x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-08 | 4.5x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-07 | 4.2x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-06 | 4.2x | ₹310 cr | 12.5% | 13.0% | 0.1x |
| 2020-05 | 14.3x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2020-04 | 12.7x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2020-03 | 14.1x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2020-02 | 13.4x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2020-01 | 15.2x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-12 | 16.8x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-11 | 13.6x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-10 | 11.7x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-09 | 11.1x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-08 | 10.4x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-07 | 10.2x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-06 | 12.0x | ₹185 cr | 2.7% | 6.0% | 0.1x |
| 2019-05 | 33.0x | ₹196 cr | 1.2% | 6.0% | 0.0x |
| 2019-04 | 33.5x | ₹196 cr | 1.2% | 6.0% | 0.0x |
| 2019-03 | 34.5x | ₹196 cr | 1.2% | 6.0% | 0.0x |
| 2019-02 | 36.5x | ₹196 cr | 1.2% | 6.0% | 0.0x |
| 2019-01 | 34.9x | ₹196 cr | 1.2% | 6.0% | 0.0x |