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PSP PROJECTS LIMITED (PSPPROJECT)

Industrial Services · Engineering & Construction · 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.47 / 100
Profitability 21Growth 47Balance sheet 71
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.41 / 100
Price 19Earnings 68FII/DII 36
Compare withLARSEN AND TOUBROJSW INFRASTRUCTURERAIL VIKAS NIGAM

Share price

Closing priceAdjusted for splits and bonus issues.

₹781.45 latest close · −23.8% over the last 90 sessions

₹800₹1,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹800₹1,000Jul 3Sep 4Nov 9

₹781.45 month-end · −14.1% over 12 months

₹600₹800₹1,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹600₹800₹1,000Nov '25May '26Nov '26

₹781.45 month-end · +4.2% over 3 years

₹600₹800₹1,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹600₹800₹1,000Nov '23May '25Nov '26

₹781.45 month-end · +104.7% since Jan '19

₹500₹750₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹750₹1,000Jan '19Dec '22Nov '26

52-week range ₹569.20 to ₹1143.00 · 1-year volatility 43.1%

Was the rally earned?

-14%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 111 points, but investors now pay less per rupee of profit (P/E 162.7x to 42.2x), which took 125 points back.
  • The share count rose 5%.
Net profit growth: +116 pts. Points of the price return explained by net profit growing (or shrinking).+116 ptsNet profit growthP/E change: −125 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−125 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: −14%−14%Share priceNet profit growth: +116 pts. Points of the price return explained by net profit growing (or shrinking).+116ProfitP/E change: −125 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−125P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: −14%−14%Share price
Net profit growth+116 ptsNet profit rose about 250%, which lifts the price.
P/E change-125 ptsThe P/E fell from 162.7x to 42.2x, which lowers the price.
Share count change-5 ptsShare count rose 5%, which lowers the price.
+4%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (+4%).
  • The share count rose 10%.
Net profit growth: −60 pts. Points of the price return explained by net profit growing (or shrinking).−60 ptsNet profit growthP/E change: +74 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+74 ptsP/E changeShare count change: −10 pts. Points of the price return explained by the share count changing. More shares count against the price.−10 ptsShare count changeShare price: +4%+4%Share priceNet profit growth: −60 pts. Points of the price return explained by net profit growing (or shrinking).−60ProfitP/E change: +74 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+74P/EShare count change: −10 pts. Points of the price return explained by the share count changing. More shares count against the price.−10SharesShare price: +4%+4%Share price
Net profit growth-60 ptsNet profit fell about 44%, which lowers the price.
P/E change+74 ptsThe P/E rose from 20.5x to 42.2x, which lifts the price.
Share count change-10 ptsShare count rose 10%, which lowers the price.
+65%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 20.9x to 42.2x); per-share earnings took off 26 points.
  • The share count rose 11%.
Net profit growth: −13 pts. Points of the price return explained by net profit growing (or shrinking).−13 ptsNet profit growthP/E change: +91 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+91 ptsP/E changeShare count change: −13 pts. Points of the price return explained by the share count changing. More shares count against the price.−13 ptsShare count changeShare price: +65%+65%Share priceNet profit growth: −13 pts. Points of the price return explained by net profit growing (or shrinking).−13ProfitP/E change: +91 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+91P/EShare count change: −13 pts. Points of the price return explained by the share count changing. More shares count against the price.−13SharesShare price: +65%+65%Share price
Net profit growth-13 ptsNet profit fell about 9%, which lowers the price.
P/E change+91 ptsThe P/E rose from 20.9x to 42.2x, which lifts the price.
Share count change-13 ptsShare count rose 11%, which lowers 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 LARSEN AND TOUBRO

How rough has the ride been?

Maximum drawdown-52.1%recovered 2022-01
1-year volatility43.1%annualised
Beta vs sector index0.683-year daily, correlation 0.42
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−45.5% 0%−20%−40%2020202220242026−45.5%
Largest drawdowns

-52.1% (2019-09 peak to 2020-03 low, recovered 2022-01)

-42.6% (2025-11 peak to 2026-03 low, recovered 2026-07)

-37.1% (2026-07 peak to 2026-10 low, not yet recovered)

Most recent volume spikes

2026-11-02: 15.5x the 50-day median, price +7.3% that day

2026-07-30: 6.8x the 50-day median, price -7.1% that day

2026-07-06: 10.2x the 50-day median, price +7.1% 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?

42.2xP/E todayNear its historic high
Against its own history84th percentile
CheapestMedian 20.6xDearest

Usual range 12.0x to 66.9x since 2019-01.

Against Industrial Services42.2x vs 14.0x
This company
42.2x
Sector median
14.0x

200% above the Industrial Services median.

8.0x60.7x113.4x166.2xJan '19Aug '20Mar '22Oct '23May '25Nov '268.0x60.7x113.4x166.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

The chart loads when you open this tab.

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

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P/S (this company)10th to 90th percentile of its own historyIts medianIndustrial Services 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 Industrial Services is valued

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial Services 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

  • ROCE21stflat vs a year ago
  • Op. margin22ndflat vs a year ago
  • Revenue growth78th▲ 58 pts vs a year ago
  • EPS growth99th▲ 92 pts vs a year ago
  • Debt/equity ↓64thflat vs a year ago
  • Cash cycle ↓60th▼ 10 pts vs a year ago
  • P/E ↓12th▲ 11 pts vs a year ago
  • 12M momentum65th▼ 28 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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What is the price implying?

~20%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 28.8x, a holder earning 12%/yr needs earnings to grow about 19.6%/yr for 10 years, then trade at 15x.

Delivered1.1%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+18.4 ptsimplied minus delivered
Rank171stmost demanding of 856

Over time

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

0%14%27% Jan 2019Nov 2026 0%14%27% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x21.2%22.3%23.3%
15x18.5%19.6%20.6%
20x15.1%16.2%17.2%

Drag a slider to test other assumptions

Implied: 19.6%/yr

Looking back

  • Jan 2020Price implied 20%/yr; EPS has since grown −8%/yr (7.0 yrs)
  • Jan 2021Price implied 15%/yr; EPS has since grown −14%/yr (6.0 yrs)
  • Jan 2022Price implied 18%/yr; EPS has since grown −9%/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 Industrial Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹781.45
P/E
42.2x
ROCE
8.0%
Market Cap
₹3095 cr
Revenue (TTM)
₹3484 cr
P/S
0.9x
P/B
2.4x
ROE
5.8%
Operating Margin
6.0%
Debt / Equity
0.3x
Promoter Holding
68.8%
12M Momentum
-14.1%

52-week range

₹569.20₹1143.00
37% of the way from its 52-week low to its high

Price risk

1Y volatility
43.1%
Beta vs sector
1-year daily
1.06

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.65x
Share count, 1Y
unchanged

Are profits backed by cash?

3 of 7checks within range4 near a threshold
Other income reliance17%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 16.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate28%Within range

Median quarterly effective tax rate over about 2.5 years: 28.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.65xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.65x (cash from operations ₹152 cr, net profit ₹235 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+31 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 31 days (108 vs 77). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-51 days / 2 yrsWithin range

Days payable changed by -51 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 2 years, promoters added 2.6 pts; DIIs trimmed 2.1 pts; FIIs trimmed 1.2 pts.
  • The number of shareholders fell from 48,541 to 32,640 (-33%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters66.2%68.8%+2.6 pts
FIIs3.3%2.1%-1.2 pts
DIIs5.0%2.9%-2.1 pts
Public and others25.5%26.2%+0.7 pts

Number of shareholders

32,640shareholders-33% since Dec '23
33k38k43k49k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 48,541
Mar '24: 45,772
Jun '24: 41,861
Sep '24: 40,839
Dec '24: 43,244
Mar '25: 41,197
Jun '25: 37,294
Sep '25: 33,522
Dec '25: 35,636
Mar '26: 34,179
Jun '26: 32,640
 33k38k43k49k Dec '23Dec '24Dec '25Jun '26
Dec '23: 48,541
Mar '24: 45,772
Jun '24: 41,861
Sep '24: 40,839
Dec '24: 43,244
Mar '25: 41,197
Jun '25: 37,294
Sep '25: 33,522
Dec '25: 35,636
Mar '26: 34,179
Jun '26: 32,640

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

+8.8%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like PSP PROJECTS 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 −18% to +51% vs the market, against −6% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +14.4%, 80% range +3.0% to +36.4%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
RAMASTEEL · Oct 2025: −61.3% vs market
EVERESTIND · Feb 2024: −53.7% vs market
VIPCLOTHNG · Aug 2025: −47.2% vs market
GOKEX · Jan 2025: −45.2% vs market
NELCAST · Jan 2024: −39.0% vs market
TEXRAIL · Jan 2025: −38.7% vs market
REPRO · May 2020: −37.6% vs market
IFGLEXPOR · May 2025: −34.6% vs market
CONFIPET · Sep 2023: −31.1% vs market
ORIENTELEC · Dec 2024: −28.4% vs market
DCXINDIA · Jul 2024: −27.4% vs market
IFBIND · Nov 2021: −25.3% vs market
IRMENERGY · Oct 2025: −18.5% vs market
GREENPLY · Dec 2024: −17.3% vs market
GULPOLY · Feb 2025: −13.1% vs market
ATULAUTO · Oct 2025: −11.3% vs market
SKIPPER · Sep 2021: −10.8% vs market
BEML · Jul 2021: −9.2% vs market
PRECAM · Apr 2020: −9.1% vs market
SHK · Dec 2020: −4.7% vs market
CEATLTD · Jan 2024: −0.3% vs market
SNOWMAN · Oct 2023: +0.5% vs market
YATRA · Jul 2025: +3.8% vs market
GLOBUSSPR · Oct 2024: +6.8% vs market
QUESS · Feb 2020: +7.3% vs market
APOLLOTYRE · Aug 2021: +10.3% vs market
GENUSPOWER · Feb 2020: +13.6% vs market
CAPACITE · Aug 2022: +14.4% vs market
ASTRAMICRO · Jun 2021: +17.4% vs market
NACLIND · May 2021: +31.9% vs market
SUZLON · Nov 2021: +34.4% vs market
ABREL · Nov 2022: +36.7% vs market
KOLTEPATIL · Dec 2022: +38.0% vs market
WELCORP · Jun 2023: +43.6% vs market
APOLLOPIPE · Aug 2025: +43.7% vs market
SHALBY · Feb 2023: +46.3% vs market
ORIENTBELL · Dec 2021: +49.6% vs market
RCF · Mar 2020: +52.0% vs market
ENTERO · Sep 2025: +52.5% vs market
STERTOOLS · Aug 2022: +59.4% vs market
MMP · Sep 2025: +68.9% vs market
AMBER · May 2024: +71.6% vs market
CYIENTDLM · Oct 2025: +75.5% vs market
JPPOWER · Feb 2023: +83.2% vs market
HSCL · Jun 2022: +85.3% vs market
KINGFA · Jun 2022: +87.5% vs market
OPTIEMUS · Jun 2024: +95.5% vs market
MARINE · Dec 2022: +148.1% vs market
THANGAMAYL · Sep 2025: +150.0% vs market
NEULANDLAB · Jan 2020: +154.1% vs market
Similar setups +8.8%All companies −5.6%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
+8.8%
All companies' median
−5.6%
Beat the market
58% vs 44%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ENTERO
Distribution Services		 Sep 2025 47x9% −18%−28% +53%
ATULAUTO
Consumer Durables		 Oct 2025 58x6% −20%−26% −11%
BEML
Producer Manufacturing		 Jul 2021 79x5% +103%−10% −9%
HSCL
Process Industries		 Jun 2022 61x5% +5%−28% +85%
GLOBUSSPR
Consumer Non-Durables		 Oct 2024 41x9% +31%−21% +7%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JPPOWER
Utilities		 Feb 2023 42x6% −8%−27% +83%
NACLIND
Process Industries		 May 2021 66x10% +100%−7% +32%
WELCORP
Producer Manufacturing		 Jun 2023 33x6% +19%−11% +44%
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 interest cover. 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 PSP PROJECTS 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.

IFGL REFRACTORIESIFGLEXPOR
Producer Manufacturing
65%similar
EPS growthoperating margin
SHEELA FOAMSFL
Process Industries
65%similar
debt/equityrevenue
LUX INDUSTRIESLUXIND
Consumer Non-Durables
64%similar
ROCEmarket cap
JUPITER WAGONSJWL
Producer Manufacturing
63%similar
promoter holdingrevenue
RAYMOND LIFESTYLERAYMONDLSL
Process Industries
63%similar
operating marginmarket cap
ISGEC HEAVY ENGINEERINGISGEC
Industrial Services
55%similar
operating marginP/E
B L KASHYAP AND SONSBLKASHYAP
Industrial Services
46%similar
operating marginEPS growth
RAMKY INFRASTRUCTURERAMKY
Industrial Services
39%similar
operating margindebt/equity

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

What changed?

30 events since Aug '24

  1. NovPriceVolume reached 15.5x its 50-day median on 2026-11-02; price +7.3% that day.
  2. OctPriceFell 37% from the Jul 2026 peak to the Oct 2026 low.
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepPeer rankMoved into the top quartile of Industrial Services on EPS growth (from the 3rd quartile).
  5. JulPriceRegained the 2025-11 peak, 4 months after the low.
  6. JulPriceVolume reached 10.2x its 50-day median on 2026-07-06; price +7.1% that day.
  7. JunPeer rankMoved into the 3rd quartile of Industrial Services on EPS growth (from the bottom quartile).
  8. AprPriceVolume reached 12.4x its 50-day median on 2026-04-30; price +1.8% that day.
Show 22 earlier events
  1. MarResultsRevenue (TTM) reached a new high of ₹2,707 cr.
  2. MarPriceFell 43% from the Nov 2025 peak to the Mar 2026 low.
  3. MarPeer rankSlipped to the bottom quartile of Industrial Services on operating margin (from the 3rd quartile).
  4. JanDebtDebt / equity halved over 12 months to 0.22x.
  5. JanPriceVolume reached 5.5x its 50-day median on 2026-01-30; price -1.4% that day.
  6. DecPromoterPromoter holding rose 8.7 pts to 68.8%.
  7. DecPeer rankMoved into the 3rd quartile of Industrial Services on operating margin (from the bottom quartile).
  8. OctPriceVolume reached 98.3x its 50-day median on 2025-10-27; price +17.7% that day.
  9. AugPriceVolume reached 36.1x its 50-day median on 2025-08-04; price -9.6% that day.
  10. JulPriceRegained the 2023-09 peak, 9 months after the low.
  11. JunInstitutionsFII + DII holding fell 3.7 pts over 2 quarters to 15.8%.
  12. JunPeer rankSlipped to the bottom quartile of Industrial Services on ROCE (from the 2nd quartile).
  13. JunDebtDebt / equity halved over 12 months to 0.22x.
  14. JunSharesShare count is up 11.1% over 12 months.
  15. JunPriceVolume reached 18.2x its 50-day median on 2025-06-13; price +5.6% that day.
  16. DecValuationP/E crossed above the 90th percentile of its own history to date (26.7x).
  17. NovPriceVolume reached 59.4x its 50-day median on 2024-11-19; price +4.4% that day.
  18. OctPriceFell 28% from the Sep 2023 peak to the Oct 2024 low.
  19. SepPromoterPromoter holding fell 6.1 pts to 60.1%.
  20. SepInstitutionsFII + DII holding rose 10.6 pts over 1 quarter to 17.5%.
  21. SepPeer rankSlipped to the bottom quartile of Industrial Services on EPS growth (from the 3rd quartile).
  22. AugPriceVolume reached 6.6x its 50-day median on 2024-08-02; price +1.9% 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
2026-1142.2x₹3484 cr5.8%8.0%0.3x
2026-1037.3x₹3484 cr5.8%8.0%0.3x
2026-0941.4x₹3484 cr5.8%8.0%0.3x
2026-0862.6x₹3149 cr4.4%8.0%0.3x
2026-0769.8x₹3149 cr4.4%8.0%0.3x
2026-0671.4x₹3149 cr4.4%8.0%0.3x
2026-0582.8x₹2707 cr3.3%9.0%0.2x
2026-0476.3x₹2707 cr3.3%9.0%0.2x
2026-0355.8x₹2707 cr3.3%9.0%0.2x
2026-02102.3x₹2524 cr2.2%9.0%0.2x
2026-01105.8x₹2524 cr2.2%9.0%0.2x
2025-12122.4x₹2524 cr2.2%9.0%0.2x
2025-11162.7x₹2407 cr1.7%9.0%0.2x
2025-10166.2x₹2407 cr1.7%9.0%0.2x
2025-09134.5x₹2407 cr1.7%9.0%0.2x
2025-0848.2x₹2512 cr4.6%9.0%0.2x
2025-0753.0x₹2512 cr4.6%9.0%0.2x
2025-0653.4x₹2512 cr4.6%9.0%0.2x
2025-0537.8x₹2507 cr7.2%19.0%0.5x
2025-0437.7x₹2507 cr7.2%19.0%0.5x
2025-0337.4x₹2507 cr7.2%19.0%0.5x
2025-0225.6x₹2582 cr10.1%19.0%0.5x
2025-0126.1x₹2582 cr10.1%19.0%0.5x
2024-1226.7x₹2582 cr10.1%19.0%0.5x
2024-1120.7x₹2616 cr13.2%19.0%0.5x
2024-1018.6x₹2616 cr13.2%19.0%0.5x
2024-0920.1x₹2616 cr13.2%19.0%0.5x
2024-0820.0x₹2507 cr13.6%19.0%0.5x
2024-0720.0x₹2507 cr13.6%19.0%0.5x
2024-0620.1x₹2507 cr13.6%19.0%0.5x
2024-0517.6x₹1938 cr16.5%25.0%0.2x
2024-0418.4x₹1938 cr16.5%25.0%0.2x
2024-0318.8x₹1938 cr16.5%25.0%0.2x
2024-0218.9x₹1938 cr16.5%25.0%0.2x
2024-0120.4x₹1938 cr16.5%25.0%0.2x
2023-1220.9x₹1938 cr16.5%25.0%0.2x
2023-1120.5x₹1938 cr16.5%25.0%0.2x
2023-1020.6x₹1938 cr16.5%25.0%0.2x
2023-0921.8x₹1938 cr16.5%25.0%0.2x
2023-0822.3x₹1938 cr16.5%25.0%0.2x
2023-0721.7x₹1938 cr16.5%25.0%0.2x
2023-0619.5x₹1938 cr16.5%25.0%0.2x
2023-0515.5x₹1748 cr24.3%35.0%0.1x
2023-0414.9x₹1748 cr24.3%35.0%0.1x
2023-0314.5x₹1748 cr24.3%35.0%0.1x
2023-0214.4x₹1748 cr24.3%35.0%0.1x
2023-0115.3x₹1748 cr24.3%35.0%0.1x
2022-1215.1x₹1748 cr24.3%35.0%0.1x
2022-1113.8x₹1748 cr24.3%35.0%0.1x
2022-1012.7x₹1748 cr24.3%35.0%0.1x
2022-0913.9x₹1748 cr24.3%35.0%0.1x
2022-0813.1x₹1748 cr24.3%35.0%0.1x
2022-0713.4x₹1748 cr24.3%35.0%0.1x
2022-0612.0x₹1748 cr24.3%35.0%0.1x
2022-0522.5x₹1241 cr15.1%22.0%0.2x
2022-0423.8x₹1241 cr15.1%22.0%0.2x
2022-0323.8x₹1241 cr15.1%22.0%0.2x
2022-0221.5x₹1241 cr15.1%22.0%0.2x
2022-0126.9x₹1241 cr15.1%22.0%0.2x
2021-1221.4x₹1241 cr15.1%22.0%0.2x
2021-1120.9x₹1241 cr15.1%22.0%0.2x
2021-1022.7x₹1241 cr15.1%22.0%0.2x
2021-0921.3x₹1241 cr15.1%22.0%0.2x
2021-0818.7x₹1241 cr15.1%22.0%0.2x
2021-0720.4x₹1241 cr15.1%22.0%0.2x
2021-0618.5x₹1241 cr15.1%22.0%0.2x
2021-0511.2x₹1499 cr28.2%40.0%0.2x
2021-0411.6x₹1499 cr28.2%40.0%0.2x
2021-0313.0x₹1499 cr28.2%40.0%0.2x
2021-0213.2x₹1499 cr28.2%40.0%0.2x
2021-0111.6x₹1499 cr28.2%40.0%0.2x
2020-1211.6x₹1499 cr28.2%40.0%0.2x
2020-1111.5x₹1499 cr28.2%40.0%0.2x
2020-1010.8x₹1499 cr28.2%40.0%0.2x
2020-0911.3x₹1499 cr28.2%40.0%0.2x
2020-0812.0x₹1499 cr28.2%40.0%0.2x
2020-0711.2x₹1499 cr28.2%40.0%0.2x
2020-0610.9x₹1499 cr28.2%40.0%0.2x
2020-0513.1x₹1050 cr24.1%40.0%0.1x
2020-0414.6x₹1050 cr24.1%40.0%0.1x
2020-0313.1x₹1050 cr24.1%40.0%0.1x
2020-0219.8x₹1050 cr24.1%40.0%0.1x
2020-0120.8x₹1050 cr24.1%40.0%0.1x
2019-1219.9x₹1050 cr24.1%40.0%0.1x
2019-1120.1x₹1050 cr24.1%40.0%0.1x
2019-1022.0x₹1050 cr24.1%40.0%0.1x
2019-0922.7x₹1050 cr24.1%40.0%0.1x
2019-0819.9x₹1050 cr24.1%40.0%0.1x
2019-0719.7x₹1050 cr24.1%40.0%0.1x
2019-0622.1x₹1050 cr24.1%40.0%0.1x
2019-0528.6x₹752 cr21.9%44.0%0.1x
2019-0425.8x₹752 cr21.9%44.0%0.1x
2019-0325.1x₹752 cr21.9%44.0%0.1x
2019-0222.1x₹752 cr21.9%44.0%0.1x
2019-0121.0x₹752 cr21.9%44.0%0.1x

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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