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POWER GRID CORPORATION OF INDI (POWERGRID)

Utilities · Alternative Power Generation · 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.43 / 100
Profitability 69Growth 29Balance sheet 30
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.48 / 100
Price 54Earnings 39FII/DII 51
Compare withNTPC GREEN ENERGYACME SOLAR HOLDINGSRELIANCE POWER

Share price

Closing priceAdjusted for splits and bonus issues.

₹257.95 latest close · −10.4% over the last 90 sessions

₹260₹280Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹260₹280Jul 3Sep 4Nov 9

₹257.95 month-end · −4.4% over 12 months

₹260₹280₹300₹320Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹260₹280₹300₹320Nov '25May '26Nov '26

₹257.95 month-end · +23.5% over 3 years

₹200₹250₹300₹350Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹250₹300₹350Nov '23May '25Nov '26

₹257.95 month-end · +151.5% since Jan '19

₹100₹200₹300Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹100₹200₹300Jan '19Dec '22Nov '26

52-week range ₹242.30 to ₹324.95 · 1-year volatility 21.8%

Was the rally earned?

-4%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (-4%).
  • The share count barely moved.
Net profit growth: +3 pts. Points of the price return explained by net profit growing (or shrinking).+3 ptsNet profit growthP/E change: −7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−7 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: −4%−4%Share priceNet profit growth: +3 pts. Points of the price return explained by net profit growing (or shrinking).+3ProfitP/E change: −7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−7P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −4%−4%Share price
Net profit growth+3 ptsNet profit rose about 3%, which lifts the price.
P/E change-7 ptsThe P/E fell from 16.3x to 15.1x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+24%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 12.6x to 15.1x); per-share earnings added 3 points.
  • The share count barely moved.
Net profit growth: +3 pts. Points of the price return explained by net profit growing (or shrinking).+3 ptsNet profit growthP/E change: +20 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+20 ptsP/E changeShare price: +24%+24%Share priceNet profit growth: +3 pts. Points of the price return explained by net profit growing (or shrinking).+3ProfitP/E change: +20 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+20P/EShare price: +24%+24%Share price
Net profit growth+3 ptsNet profit rose about 3%, which lifts the price.
P/E change+20 ptsThe P/E rose from 12.6x to 15.1x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+70%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 37 points and the multiple added 34 points (P/E 11.7x to 15.1x).
  • The share count barely moved.
Net profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37 ptsNet profit growthP/E change: +34 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+34 ptsP/E changeShare price: +70%+70%Share priceNet profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37ProfitP/E change: +34 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+34P/EShare price: +70%+70%Share price
Net profit growth+37 ptsNet profit rose about 32%, which lifts the price.
P/E change+34 ptsThe P/E rose from 11.7x to 15.1x, which lifts 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 NTPC GREEN ENERGY

How rough has the ride been?

Maximum drawdown-33.6%recovered 2021-02
1-year volatility21.8%annualised
Beta vs sector index0.543-year daily, correlation 0.57
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−10%−20%−30%2020202120222023202420252026−32.3% 0%−10%−20%−30%2020202220242026−32.3%
Largest drawdowns

-33.6% (2019-08 peak to 2020-03 low, recovered 2021-02)

-33.1% (2024-09 peak to 2026-10 low, not yet recovered)

-18.4% (2022-05 peak to 2022-09 low, recovered 2023-05)

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?

15.1xP/E todayWithin its usual range
Against its own history65th percentile
CheapestMedian 11.7xDearest

Usual range 8.6x to 18.3x since 2019-01.

Against Utilities15.1x vs 27.3x
This company
15.1x
Sector median
27.3x

45% below the Utilities median.

7.4x21.9x36.3x50.8xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x21.9x36.3x50.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianUtilities median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianUtilities 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 Utilities is valued

Where does it rank among Utilities peers?

Each cell is the company's percentile rank among its Utilities 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

  • ROCE47th▼ 20 pts vs a year ago
  • Op. margin91st▼ 4 pts vs a year ago
  • Revenue growth26th▼ 9 pts vs a year ago
  • EPS growth48th▲ 8 pts vs a year ago
  • Debt/equity ↓29th▲ 5 pts vs a year ago
  • Cash cycle ↓29th▼ 26 pts vs a year ago
  • P/E ↓72nd▼ 4 pts vs a year ago
  • 12M momentum65th▲ 19 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 Utilities sector page Watch it move against Utilities in the Observatory

What is the price implying?

~8%annual earnings growth implied by the priceAbove delivered growth

At P/E of 15.1x, a holder earning 12%/yr needs earnings to grow about 7.7%/yr for 10 years, then trade at 15x.

Delivered0.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+7.3 ptsimplied minus delivered
Rank385thmost demanding of 856

Over time

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

0%9%17% Jan 2019Nov 2026 0%9%17% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x8.6%9.6%10.6%
15x6.7%7.7%8.7%
20x4.3%5.2%6.1%

Drag a slider to test other assumptions

Implied: 7.7%/yr

Looking back

  • Jan 2020Price implied 4%/yr; EPS has since grown −2%/yr (7.0 yrs)
  • Jan 2021Price implied 3%/yr; EPS has since grown −3%/yr (6.0 yrs)
  • Jan 2022Price implied 6%/yr; EPS has since grown −6%/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 Utilities The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹257.95
P/E
15.1x
ROCE
9.0%
Market Cap
₹2.40L cr
Revenue (TTM)
₹47034 cr
P/S
5.1x
P/B
2.4x
ROE
15.8%
Operating Margin
82.0%
Debt / Equity
1.5x
Promoter Holding
51.3%
12M Momentum
-4.5%

52-week range

₹242.30₹324.95
19% of the way from its 52-week low to its high

Price risk

1Y volatility
21.8%
Beta vs sector
1-year daily
0.49

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.43x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance12%Within range

Other income as a share of pre-tax profit (trailing twelve months): 11.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate19%Within range

Median quarterly effective tax rate over about 2.5 years: 19.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.43xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.43x (cash from operations ₹1,14,447 cr, net profit ₹47,022 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-1 daysWithin range

Debtor days are below the median of the previous three fiscal years by 1 days (91 vs 92). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress25% of fixed assetsWithin range

Capital work-in-progress is 25% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

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

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, FIIs trimmed 7.7 pts; DIIs added 7.4 pts.
  • The number of shareholders rose from 9.3 lakh to 13.5 lakh (+45%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters51.3%51.3%0.0 pts
FIIs32.0%24.3%-7.7 pts
DIIs13.2%20.6%+7.4 pts
Public and others3.4%3.6%+0.2 pts

Number of shareholders

13.5 lakhshareholders+45% since Sep '23
9.3L10.8L12.4L13.9L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 9.3 lakh
Dec '23: 9.6 lakh
Mar '24: 11.0 lakh
Jun '24: 13.2 lakh
Sep '24: 13.3 lakh
Dec '24: 13.5 lakh
Mar '25: 13.8 lakh
Jun '25: 13.9 lakh
Sep '25: 13.7 lakh
Dec '25: 13.7 lakh
Mar '26: 13.4 lakh
Jun '26: 13.5 lakh
 9.3L10.8L12.4L13.9L Sep '23Sep '24Sep '25Jun '26
Sep '23: 9.3 lakh
Dec '23: 9.6 lakh
Mar '24: 11.0 lakh
Jun '24: 13.2 lakh
Sep '24: 13.3 lakh
Dec '24: 13.5 lakh
Mar '25: 13.8 lakh
Jun '25: 13.9 lakh
Sep '25: 13.7 lakh
Dec '25: 13.7 lakh
Mar '26: 13.4 lakh
Jun '26: 13.5 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

−1.9%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like POWER GRID CORPORATION OF INDI 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 −22% to +26% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (−0.1%, 80% range −7.3% to +11.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
UPL · Feb 2023: −54.7% vs market
JMFINANCIL · Jul 2021: −44.2% vs market
BATAINDIA · Aug 2025: −40.3% vs market
DALBHARAT · Nov 2023: −36.5% vs market
NLCINDIA · Apr 2020: −34.1% vs market
BIRLACORPN · Sep 2021: −33.7% vs market
NTPC · Apr 2020: −32.5% vs market
AARTIIND · Jun 2024: −31.6% vs market
CESC · May 2020: −28.9% vs market
BRIGADE · Jul 2025: −27.1% vs market
RAMCOCEM · Apr 2023: −27.0% vs market
TATACHEM · Mar 2023: −25.2% vs market
APOLLOTYRE · Feb 2024: −24.7% vs market
ULTRACEMCO · Apr 2021: −14.6% vs market
APOLLOHOSP · May 2023: −12.0% vs market
JINDALSTEL · Jun 2024: −11.7% vs market
DRREDDY · May 2023: −10.4% vs market
TATACOMM · May 2024: −10.3% vs market
GODREJCP · Feb 2020: −10.0% vs market
JKCEMENT · Apr 2023: −9.6% vs market
NHPC · Aug 2025: −7.8% vs market
GODREJIND · May 2020: −5.6% vs market
RELIANCE · Aug 2024: −2.5% vs market
GRASIM · Apr 2021: −2.4% vs market
BHARTIARTL · Jul 2025: −2.2% vs market
TORNTPOWER · Sep 2020: −1.5% vs market
HINDALCO · May 2021: −0.8% vs market
ALKEM · May 2023: −0.3% vs market
WIPRO · Jun 2024: +3.2% vs market
TVSMOTOR · May 2021: +10.8% vs market
INDUSTOWER · May 2025: +12.6% vs market
JSWENERGY · Mar 2020: +14.4% vs market
ADANIPORTS · Jul 2025: +17.3% vs market
BIOCON · Jun 2025: +17.4% vs market
LT · May 2022: +22.1% vs market
HATSUN · Jan 2020: +22.7% vs market
ZYDUSLIFE · Feb 2020: +22.9% vs market
TATAPOWER · Sep 2023: +26.8% vs market
TORNTPHARM · Aug 2023: +28.4% vs market
ASTERDM · Jun 2022: +31.1% vs market
CHALET · Aug 2024: +31.2% vs market
JSWSTEEL · Feb 2021: +32.2% vs market
M&M · May 2023: +32.3% vs market
BHARATFORG · May 2023: +36.8% vs market
CIPLA · Jan 2020: +55.2% vs market
ERIS · Jun 2024: +61.1% vs market
SJVN · Jul 2022: +76.3% vs market
PRESTIGE · Dec 2022: +100.3% vs market
SRF · Mar 2021: +100.4% vs market
MOTILALOFS · Aug 2023: +112.6% vs market
Similar setups −1.9%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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−1.9%
All companies' median
−1.8%
Beat the market
44% vs 48%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
NTPC
Utilities		 Apr 2020 7x7% −29%−34% −33%
NHPC
Utilities		 Aug 2025 26x7% −20%−22% −8%
LT
Industrial Services		 May 2022 20x10% +13%−20% +22%
M&M
Consumer Durables		 May 2023 25x11% +28%−5% +32%
BHARTIARTL
Communications		 Jul 2025 33x13% +28%−6% −2%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ADANIPORTS
Transportation		 Jul 2025 27x15% −13%−14% +17%
UPL
Process Industries		 Feb 2023 16x14% +4%−16% −55%
GRASIM
Non-Energy Minerals		 Apr 2021 22x8% +178%−4% −2%
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, drawdown from 12-month high and ROCE. 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 POWER GRID CORPORATION OF INDI. 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.

OIL INDIAOIL
Energy Minerals
74%similar
revenuerevenue growth
IRB INFRASTRUCTURE DEVELOPERSIRB
Industrial Services
64%similar
operating margindebt/equity
DALMIA BHARATDALBHARAT
Non-Energy Minerals
56%similar
ROCErevenue
PIRAMAL FINANCEPIRAMALFIN
Finance
56%similar
operating margindebt/equity
TATA STEELTATASTEEL
Non-Energy Minerals
53%similar
market caprevenue
NHPCNHPC
Utilities
75%similar
operating marginvolatility
NTPCNTPC
Utilities
74%similar
ROCEvolatility
TATA POWER COTATAPOWER
Utilities
64%similar
volatilityrevenue

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

What changed?

30 events since Jan '20

  1. OctPriceFell 33% from the Sep 2024 peak to the Oct 2026 low.
  2. JunResultsYear-on-year EPS growth turned positive.
  3. JunPeer rankSlipped to the 3rd quartile of Utilities on ROCE (from the 2nd quartile).
  4. MayPriceVolume reached 7.3x its 50-day median on 2026-05-29; price -3.2% that day.
  5. FebValuationP/E crossed above the 90th percentile of its own history to date (18.3x).
  6. SepResultsRevenue (TTM) reached a new high of ₹45,982 cr.
  7. JunResultsYear-on-year EPS growth turned negative.
  8. AprValuationP/E crossed above the 90th percentile of its own history to date (18.4x).
Show 22 earlier events
  1. JunResultsYear-on-year EPS growth turned positive.
  2. JunPeer rankSlipped to the 2nd quartile of Utilities on ROCE (from the top quartile).
  3. JunSharesShare count is up 33.3% over 12 months.
  4. AprPeer rankMoved into the top quartile of Utilities on ROCE (from the 2nd quartile).
  5. JulValuationP/E crossed above the 90th percentile of its own history to date (11.8x).
  6. JulPriceVolume reached 6.7x its 50-day median on 2023-07-14; price -1.3% that day.
  7. JunResultsYear-on-year EPS growth turned negative.
  8. JunPeer rankSlipped to the 3rd quartile of Utilities on EPS growth (from the top quartile).
  9. MarPriceVolume reached 7.9x its 50-day median on 2023-03-02; price +0.7% that day.
  10. SepPriceVolume reached 14.2x its 50-day median on 2022-09-26; price -0.8% that day.
  11. JunResultsRevenue (TTM) reached a new high of ₹41,622 cr.
  12. JunPeer rankMoved into the top quartile of Utilities on EPS growth (from the 2nd quartile).
  13. JunSharesShare count is up 33.3% over 12 months.
  14. DecPriceVolume reached 6.1x its 50-day median on 2021-12-30; price +0.4% that day.
  15. NovValuationP/E crossed above the 90th percentile of its own history to date (11.7x).
  16. JunResultsRevenue (TTM) reached a new high of ₹39,640 cr.
  17. JunPeer rankMoved into the 2nd quartile of Utilities on EPS growth (from the 3rd quartile).
  18. FebPriceRegained the 2019-08 peak, 11 months after the low.
  19. JunResultsRevenue (TTM) reached a new high of ₹37,744 cr.
  20. JunPeer rankSlipped to the 3rd quartile of Utilities on EPS growth (from the 2nd quartile).
  21. MarPriceFell 34% from the Aug 2019 peak to the Mar 2020 low.
  22. JanPriceVolume reached 22.8x its 50-day median on 2020-01-23; price +1.0% 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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1115.1x₹47034 cr15.8%9.0%1.5x
2026-1015.5x₹47034 cr15.8%9.0%1.5x
2026-0915.2x₹47034 cr15.8%9.0%1.5x
2026-0815.4x₹46733 cr15.8%9.0%1.5x
2026-0716.6x₹46733 cr15.8%9.0%1.5x
2026-0616.7x₹46733 cr15.8%9.0%1.5x
2026-0517.4x₹47342 cr16.8%13.0%1.4x
2026-0419.1x₹47342 cr16.8%13.0%1.4x
2026-0317.8x₹47342 cr16.8%13.0%1.4x
2026-0218.3x₹46180 cr16.4%13.0%1.4x
2026-0115.7x₹46180 cr16.4%13.0%1.4x
2025-1216.2x₹46180 cr16.4%13.0%1.4x
2025-1116.3x₹45982 cr16.7%13.0%1.4x
2025-1017.4x₹45982 cr16.7%13.0%1.4x
2025-0916.9x₹45982 cr16.7%13.0%1.4x
2025-0816.5x₹45792 cr16.8%13.0%1.4x
2025-0717.4x₹45792 cr16.8%13.0%1.4x
2025-0618.0x₹45792 cr16.8%13.0%1.4x
2025-0517.3x₹45495 cr17.8%13.0%1.4x
2025-0418.4x₹45495 cr17.8%13.0%1.4x
2025-0317.4x₹45495 cr17.8%13.0%1.4x
2025-0214.9x₹45812 cr18.0%13.0%1.4x
2025-0117.9x₹45812 cr18.0%13.0%1.4x
2024-1218.3x₹45812 cr18.0%13.0%1.4x
2024-1119.5x₹45801 cr18.0%13.0%1.4x
2024-1019.0x₹45801 cr18.0%13.0%1.4x
2024-0920.9x₹45801 cr18.0%13.0%1.4x
2024-0820.1x₹45843 cr17.9%13.0%1.4x
2024-0720.8x₹45843 cr17.9%13.0%1.4x
2024-0619.8x₹45843 cr17.9%13.0%1.4x
2024-0518.7x₹45581 cr18.6%13.0%1.5x
2024-0418.2x₹45581 cr18.6%13.0%1.5x
2024-0316.7x₹45581 cr18.6%13.0%1.5x
2024-0217.1x₹45581 cr18.6%13.0%1.5x
2024-0115.6x₹45581 cr18.6%13.0%1.5x
2023-1214.3x₹45581 cr18.6%13.0%1.5x
2023-1112.6x₹45581 cr18.6%13.0%1.5x
2023-1012.2x₹45581 cr18.6%13.0%1.5x
2023-0912.0x₹45581 cr18.6%13.0%1.5x
2023-0811.1x₹45581 cr18.6%13.0%1.5x
2023-0711.8x₹45581 cr18.6%13.0%1.5x
2023-0611.3x₹45581 cr18.6%13.0%1.5x
2023-059.5x₹41622 cr22.1%11.0%1.8x
2023-049.6x₹41622 cr22.1%11.0%1.8x
2023-039.2x₹41622 cr22.1%11.0%1.8x
2023-029.0x₹41622 cr22.1%11.0%1.8x
2023-018.8x₹41622 cr22.1%11.0%1.8x
2022-128.7x₹41622 cr22.1%11.0%1.8x
2022-119.1x₹41622 cr22.1%11.0%1.8x
2022-109.3x₹41622 cr22.1%11.0%1.8x
2022-098.6x₹41622 cr22.1%11.0%1.8x
2022-089.3x₹41622 cr22.1%11.0%1.8x
2022-078.7x₹41622 cr22.1%11.0%1.8x
2022-068.6x₹41622 cr22.1%11.0%1.8x
2022-0513.2x₹39640 cr17.2%12.0%2.0x
2022-0412.9x₹39640 cr17.2%12.0%2.0x
2022-0312.3x₹39640 cr17.2%12.0%2.0x
2022-0211.8x₹39640 cr17.2%12.0%2.0x
2022-0112.2x₹39640 cr17.2%12.0%2.0x
2021-1211.6x₹39640 cr17.2%12.0%2.0x
2021-1111.7x₹39640 cr17.2%12.0%2.0x
2021-1010.5x₹39640 cr17.2%12.0%2.0x
2021-0910.7x₹39640 cr17.2%12.0%2.0x
2021-089.9x₹39640 cr17.2%12.0%2.0x
2021-079.6x₹39640 cr17.2%12.0%2.0x
2021-069.8x₹39640 cr17.2%12.0%2.0x
2021-0510.4x₹37744 cr17.1%11.0%2.3x
2021-0410.1x₹37744 cr17.1%11.0%2.3x
2021-039.9x₹37744 cr17.1%11.0%2.3x
2021-029.8x₹37744 cr17.1%11.0%2.3x
2021-018.4x₹37744 cr17.1%11.0%2.3x
2020-128.7x₹37744 cr17.1%11.0%2.3x
2020-118.8x₹37744 cr17.1%11.0%2.3x
2020-107.8x₹37744 cr17.1%11.0%2.3x
2020-097.4x₹37744 cr17.1%11.0%2.3x
2020-088.2x₹37744 cr17.1%11.0%2.3x
2020-078.1x₹37744 cr17.1%11.0%2.3x
2020-068.0x₹37744 cr17.1%11.0%2.3x
2020-057.9x₹35059 cr17.0%9.0%2.5x
2020-048.1x₹35059 cr17.0%9.0%2.5x
2020-038.0x₹35059 cr17.0%9.0%2.5x
2020-029.1x₹35059 cr17.0%9.0%2.5x
2020-019.4x₹35059 cr17.0%9.0%2.5x
2019-129.6x₹35059 cr17.0%9.0%2.5x
2019-119.7x₹35059 cr17.0%9.0%2.5x
2019-1010.0x₹35059 cr17.0%9.0%2.5x
2019-0910.0x₹35059 cr17.0%9.0%2.5x
2019-0810.1x₹35059 cr17.0%9.0%2.5x
2019-0710.7x₹35059 cr17.0%9.0%2.5x
2019-0610.5x₹35059 cr17.0%9.0%2.5x
2019-0511.7x₹29954 cr15.1%10.0%2.4x
2019-0411.5x₹29954 cr15.1%10.0%2.4x
2019-0312.2x₹29954 cr15.1%10.0%2.4x
2019-0211.3x₹29954 cr15.1%10.0%2.4x
2019-0111.6x₹29954 cr15.1%10.0%2.4x

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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