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PTC INDIA LIMITED (PTC)

Producer Manufacturing · Metal Fabrication · 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.38 / 100
Profitability 26Growth 29Balance sheet 60
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.43 / 100
Price 18Earnings 23FII/DII 90

Passes these screensCash RichValue PickLittle growth priced in

Compare withBHARAT FORGESCHAEFFLER INDIAPTC INDUSTRIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹140.9 latest close · −7.3% over the last 90 sessions

₹140₹160Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹140₹160Jul 3Sep 4Nov 9

₹140.9 month-end · +4.3% over 12 months

₹140₹160₹180Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹140₹160₹180Nov '25May '26Nov '26

₹140.9 month-end · +0.4% over 3 years

₹150₹200Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹150₹200Nov '23May '25Nov '26

₹140.9 month-end · +110.7% since Jan '19

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

52-week range ₹128.03 to ₹196.42 · 1-year volatility 33.2%

Was the rally earned?

+4%share price, 1 yearRoughly flat
  • The share price was roughly flat over 1 year (+4%).
  • The share count rose 3%.
Net profit growth: −58 pts. Points of the price return explained by net profit growing (or shrinking).−58 ptsNet profit growthP/E change: +65 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+65 ptsP/E changeShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3 ptsShare count changeShare price: +4%+4%Share priceNet profit growth: −58 pts. Points of the price return explained by net profit growing (or shrinking).−58ProfitP/E change: +65 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+65P/EShare count change: −3 pts. Points of the price return explained by the share count changing. More shares count against the price.−3SharesShare price: +4%+4%Share price
Net profit growth-58 ptsNet profit fell about 43%, which lowers the price.
P/E change+65 ptsThe P/E rose from 4.3x to 8.2x, which lifts the price.
Share count change-3 ptsShare count rose 3%, which lowers the price.
+0%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (+0%).
  • The share count barely moved.
Net profit growth: +15 pts. Points of the price return explained by net profit growing (or shrinking).+15 ptsNet profit growthP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13 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: 0%0%Share priceNet profit growth: +15 pts. Points of the price return explained by net profit growing (or shrinking).+15ProfitP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: 0%0%Share price
Net profit growth+15 ptsNet profit growth over the period.
P/E change-13 ptsThe P/E fell from 9.3x to 8.2x, which lowers the price.
Share count change-1 ptsShare count was little changed. More shares would count against the price.
+49%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 6.3x to 8.2x); per-share earnings added 15 points.
  • The share count rose 13%.
Net profit growth: +30 pts. Points of the price return explained by net profit growing (or shrinking).+30 ptsNet profit growthP/E change: +33 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+33 ptsP/E changeShare count change: −15 pts. Points of the price return explained by the share count changing. More shares count against the price.−15 ptsShare count changeShare price: +49%+49%Share priceNet profit growth: +30 pts. Points of the price return explained by net profit growing (or shrinking).+30ProfitP/E change: +33 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+33P/EShare count change: −15 pts. Points of the price return explained by the share count changing. More shares count against the price.−15SharesShare price: +49%+49%Share price
Net profit growth+30 ptsNet profit rose about 28%, which lifts the price.
P/E change+33 ptsThe P/E rose from 6.3x to 8.2x, which lifts the price.
Share count change-15 ptsShare count rose 13%, 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 BHARAT FORGE

How rough has the ride been?

Maximum drawdown-64.7%recovered 2021-05
1-year volatility33.2%annualised
Beta vs sector index1.093-year daily, correlation 0.55
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−64.2% 0%−20%−40%−60%2020202220242026−64.2%
Largest drawdowns

-64.7% (2019-01 peak to 2020-03 low, recovered 2021-05)

-49.2% (2021-10 peak to 2022-10 low, recovered 2023-08)

-47.3% (2024-02 peak to 2025-01 low, not yet recovered)

Most recent volume spikes

2026-08-31: 12.7x the 50-day median, price -4.3% that day

2026-08-10: 6.2x the 50-day median, price -1.3% that day

2026-08-07: 19.4x the 50-day median, price +1.6% 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?

8.2xP/E todayNear its historic high
Against its own history80th percentile
CheapestMedian 5.4xDearest

Usual range 3.4x to 10.1x since 2019-01.

Against Producer Manufacturing8.2x vs 29.6x
This company
8.2x
Sector median
29.6x

72% below the Producer Manufacturing median.

2.0x16.0x30.0x44.0xJan '19Aug '20Mar '22Oct '23May '25Nov '262.0x16.0x30.0x44.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

  • ROCE41stflat vs a year ago
  • Op. margin10th▼ 12 pts vs a year ago
  • Revenue growth46th▲ 33 pts vs a year ago
  • EPS growth13th▼ 78 pts vs a year ago
  • Debt/equity ↓46th▲ 15 pts vs a year ago
  • Cash cycle ↓56th▲ 8 pts vs a year ago
  • P/E ↓97thflat vs a year ago
  • 12M momentum59thflat 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?

~0%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 7.3x, a holder earning 12%/yr needs earnings to grow about −0.2%/yr for 10 years, then trade at 15x.

Delivered9.7%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−9.9 ptsimplied minus delivered
Rank703rdmost demanding of 856

Over time

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

-10%-0%10% Jan 2019Nov 2026 -10%-0%10% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x0.7%1.6%2.5%
15x−1.1%−0.2%0.7%
20x−3.4%−2.5%−1.6%

Drag a slider to test other assumptions

Implied: −0.2%/yr

Looking back

  • Jan 2020Price implied −4%/yr; EPS has since grown 6%/yr (7.0 yrs)
  • Jan 2021Price implied −5%/yr; EPS has since grown 10%/yr (6.0 yrs)
  • Jan 2022Price implied −2%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹140.90
P/E
8.2x
ROCE
13.0%
Market Cap
₹4176 cr
Revenue (TTM)
₹17536 cr
P/S
0.2x
P/B
0.7x
ROE
8.5%
Operating Margin
3.1%
Debt / Equity
0.3x
Promoter Holding
16.2%
12M Momentum
4.3%

52-week range

₹128.03₹196.42
19% of the way from its 52-week low to its high

Price risk

1Y volatility
33.2%
Beta vs sector
1-year daily
0.75

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
3.20x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 6checks within range1 beyond a threshold
Other income reliance41%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 41.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 23.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion3.20xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 3.20x (cash from operations ₹7,132 cr, net profit ₹2,226 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-30 daysWithin range

Debtor days are below the median of the previous three fiscal years by 30 days (95 vs 125). 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—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 added 1.4 pts; DIIs added 1.1 pts.
  • The number of shareholders rose from 2.1 lakh to 2.5 lakh (+24%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters16.2%16.2%0.0 pts
FIIs27.5%28.9%+1.4 pts
DIIs7.8%8.9%+1.1 pts
Public and others45.1%42.6%-2.5 pts

Number of shareholders

2.5 lakhshareholders+24% since Sep '23
2.1L2.3L2.5L2.7L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 2.1 lakh
Dec '23: 2.2 lakh
Mar '24: 2.5 lakh
Jun '24: 2.5 lakh
Sep '24: 2.6 lakh
Dec '24: 2.7 lakh
Mar '25: 2.7 lakh
Jun '25: 2.7 lakh
Sep '25: 2.7 lakh
Dec '25: 2.7 lakh
Mar '26: 2.7 lakh
Jun '26: 2.5 lakh
 2.1L2.3L2.5L2.7L Sep '23Sep '24Sep '25Jun '26
Sep '23: 2.1 lakh
Dec '23: 2.2 lakh
Mar '24: 2.5 lakh
Jun '24: 2.5 lakh
Sep '24: 2.6 lakh
Dec '24: 2.7 lakh
Mar '25: 2.7 lakh
Jun '25: 2.7 lakh
Sep '25: 2.7 lakh
Dec '25: 2.7 lakh
Mar '26: 2.7 lakh
Jun '26: 2.5 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

+17.1%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like PTC 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 −11% to +66% vs the market, against −3% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +20.3%, 80% range +9.0% to +30.1%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
AGARIND · Jul 2025: −51.8% vs market
DHAMPURSUG · Oct 2023: −47.1% vs market
UDS · Jun 2025: −36.0% vs market
GTPL · Jun 2024: −32.8% vs market
JINDALSAW · Aug 2021: −31.1% vs market
RAIN · Apr 2023: −27.3% vs market
SIS · Mar 2024: −23.4% vs market
NFL · Sep 2021: −20.1% vs market
SUKHJITS · Apr 2025: −17.0% vs market
KPIL · Jun 2021: −16.3% vs market
EIDPARRY · Feb 2023: −16.1% vs market
KNAGRI · Aug 2025: −11.7% vs market
NCLIND · Feb 2023: −10.9% vs market
UCAL · Mar 2023: −10.4% vs market
PARADEEP · May 2023: −9.8% vs market
RANEHOLDIN · May 2025: −9.7% vs market
MONTECARLO · Jun 2025: −6.8% vs market
JAYAGROGN · Oct 2025: −3.7% vs market
NRAIL · Nov 2022: −2.6% vs market
WABAG · Jan 2022: +1.9% vs market
ZUARI · Jun 2025: +6.8% vs market
POLYPLEX · Aug 2025: +8.5% vs market
PGIL · Apr 2020: +8.8% vs market
KCP · Apr 2023: +14.3% vs market
RCF · Jul 2022: +14.3% vs market
MUNJALAU · Aug 2023: +20.0% vs market
QUESS · May 2024: +26.1% vs market
GOODLUCK · Jul 2024: +27.0% vs market
REDINGTON · Oct 2024: +27.2% vs market
JKTYRE · Dec 2021: +27.5% vs market
INDIAGLYCO · Jul 2021: +28.4% vs market
WHEELS · Feb 2025: +35.6% vs market
SHYAMMETL · Sep 2023: +41.7% vs market
LTFOODS · Jun 2022: +45.3% vs market
GOKUL · Oct 2020: +50.2% vs market
UFLEX · Mar 2020: +51.9% vs market
RGL · Jun 2020: +59.1% vs market
SCI · Aug 2022: +68.7% vs market
NCC · Oct 2022: +76.3% vs market
HGS · May 2020: +77.2% vs market
ARVIND · Jul 2023: +85.3% vs market
TIMETECHNO · Jan 2024: +112.2% vs market
MANINDS · Jul 2023: +125.0% vs market
SSWL · Oct 2025: +134.4% vs market
RAYMOND · May 2021: +146.6% vs market
ELECTCAST · Jul 2023: +150.0% vs market
GALLANTT · Oct 2023: +175.7% vs market
RPTECH · Sep 2025: +192.6% vs market
IRCON · Feb 2023: +196.7% vs market
RVNL · Jul 2022: +249.5% vs market
Similar setups +17.1%All companies −3.2%← 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 · 9 beyond the range shown, drawn at the edge

Similar setups' median
+17.1%
All companies' median
−3.2%
Beat the market
62% vs 46%

50 past situations · 50 companies · 39 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
UFLEX
Process Industries		 Mar 2020 3x10% −39%−49% +52%
JAYAGROGN
Process Industries		 Oct 2025 13x13% −18%−25% −4%
RVNL
Industrial Services		 Jul 2022 6x16% +5%−28% +250%
RPTECH
Distribution Services		 Sep 2025 10x14% −16%−27% +193%
QUESS
Commercial Services		 May 2024 15x9% +40%−13% +26%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ARVIND
Process Industries		 Jul 2023 9x13% +50%−3% +85%
JINDALSAW
Non-Energy Minerals		 Aug 2021 12x8% +89%−17% −31%
POLYPLEX
Process Industries		 Aug 2025 15x7% −19%−31% +9%
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: ROCE, interest cover 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 PTC 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.

NCCNCC
Consumer Durables
68%similar
EPS growthpromoter holding
TEAMLEASE SERVICESTEAMLEASE
Commercial Services
59%similar
operating marginrevenue
JK LAKSHMI CEMENTJKLAKSHMI
Non-Energy Minerals
57%similar
revenue growthROCE
APOLLO TYRESAPOLLOTYRE
Consumer Durables
55%similar
revenueROCE
EID PARRY (INDIA)EIDPARRY
Process Industries
54%similar
revenue growthrevenue
AMARA RAJA ENERGY & MOBILITYARE&M
Producer Manufacturing
56%similar
revenueEPS growth
L G BALKRISHNAN & BROSLGBBROSLTD
Producer Manufacturing
46%similar
market capEPS growth
SOMANY CERAMICSSOMANYCERA
Producer Manufacturing
45%similar
ROCErevenue growth

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

What changed?

30 events since Sep '21

  1. SepInstitutionsFII + DII holding rose 3.3 pts over 2 quarters to 37.8%.
  2. AugPriceVolume reached 26.7x its 50-day median on 2026-08-05; price +8.1% that day.
  3. JunResultsYear-on-year EPS growth turned negative.
  4. JunPeer rankSlipped to the bottom quartile of Producer Manufacturing on EPS growth (from the top quartile).
  5. AprPriceVolume reached 6.2x its 50-day median on 2026-04-17; price +0.9% that day.
  6. JanPriceVolume reached 9.4x its 50-day median on 2026-01-27; price +6.7% that day.
  7. JulPriceVolume reached 12.4x its 50-day median on 2025-07-24; price +4.1% that day.
  8. JunInstitutionsFII + DII holding fell 6.6 pts over 2 quarters to 32.5%.
Show 22 earlier events
  1. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  2. MarPeer rankMoved into the 3rd quartile of Producer Manufacturing on operating margin (from the bottom quartile).
  3. JanPriceFell 47% from the Feb 2024 peak to the Jan 2025 low.
  4. SepInstitutionsFII + DII holding rose 3.8 pts over 2 quarters to 38.9%.
  5. SepPriceVolume reached 8.6x its 50-day median on 2024-09-13; price +8.6% that day.
  6. JunResultsYear-on-year EPS growth turned positive.
  7. JunDebtDebt / equity fell below 1.0x (0.84x).
  8. AprPriceVolume reached 6.3x its 50-day median on 2024-04-19; price +4.6% that day.
  9. FebPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  10. DecPriceVolume reached 13.0x its 50-day median on 2023-12-13; price +16.2% that day.
  11. AugPriceRegained the 2021-10 peak, 10 months after the low.
  12. AugValuationP/E crossed above the 90th percentile of its own history to date (7.9x).
  13. JunResultsYear-on-year EPS growth turned negative.
  14. MayPriceVolume reached 8.3x its 50-day median on 2023-05-29; price +7.9% that day.
  15. JanPriceVolume reached 20.2x its 50-day median on 2023-01-11; price +5.0% that day.
  16. OctPriceFell 49% from the Oct 2021 peak to the Oct 2022 low.
  17. OctPriceVolume reached 6.8x its 50-day median on 2022-10-20; price -4.3% that day.
  18. JunPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  19. AprPriceVolume reached 7.3x its 50-day median on 2022-04-04; price +10.3% that day.
  20. JanPriceVolume reached 14.2x its 50-day median on 2022-01-20; price -10.9% that day.
  21. OctPriceVolume reached 15.2x its 50-day median on 2021-10-08; price +7.4% that day.
  22. SepPriceVolume reached 27.2x its 50-day median on 2021-09-29; price +13.1% 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
2026-118.2x₹17536 cr8.5%13.0%0.3x
2026-107.9x₹17536 cr8.5%13.0%0.3x
2026-098.7x₹17536 cr8.5%13.0%0.3x
2026-087.1x₹16771 cr10.4%13.0%0.3x
2026-077.3x₹16771 cr10.4%13.0%0.3x
2026-067.6x₹16771 cr10.4%13.0%0.3x
2026-055.4x₹15797 cr14.5%14.0%0.5x
2026-046.2x₹15797 cr14.5%14.0%0.5x
2026-034.7x₹15797 cr14.5%14.0%0.5x
2026-024.7x₹15813 cr15.2%14.0%0.5x
2026-014.9x₹15813 cr15.2%14.0%0.5x
2025-124.6x₹15813 cr15.2%14.0%0.5x
2025-114.3x₹15482 cr15.4%14.0%0.5x
2025-104.6x₹15482 cr15.4%14.0%0.5x
2025-094.6x₹15482 cr15.4%14.0%0.5x
2025-084.9x₹16028 cr14.6%14.0%0.5x
2025-075.4x₹16028 cr14.6%14.0%0.5x
2025-065.1x₹16028 cr14.6%14.0%0.5x
2025-057.0x₹16611 cr11.7%10.0%0.8x
2025-047.0x₹16611 cr11.7%10.0%0.8x
2025-036.5x₹16611 cr11.7%10.0%0.8x
2025-026.3x₹16618 cr10.3%10.0%0.8x
2025-016.6x₹16618 cr10.3%10.0%0.8x
2024-126.6x₹16618 cr10.3%10.0%0.8x
2024-118.4x₹16560 cr9.8%10.0%0.8x
2024-108.8x₹16560 cr9.8%10.0%0.8x
2024-0910.2x₹16560 cr9.8%10.0%0.8x
2024-0811.8x₹16763 cr8.7%10.0%0.8x
2024-0712.5x₹16763 cr8.7%10.0%0.8x
2024-0611.4x₹16763 cr8.7%10.0%0.8x
2024-0511.9x₹15971 cr8.8%9.0%1.3x
2024-0412.8x₹15971 cr8.8%9.0%1.3x
2024-0310.6x₹15971 cr8.8%9.0%1.3x
2024-0211.5x₹15971 cr8.8%9.0%1.3x
2024-0113.6x₹15971 cr8.8%9.0%1.3x
2023-1210.8x₹15971 cr8.8%9.0%1.3x
2023-119.3x₹15971 cr8.8%9.0%1.3x
2023-108.0x₹15971 cr8.8%9.0%1.3x
2023-097.5x₹15971 cr8.8%9.0%1.3x
2023-087.9x₹15971 cr8.8%9.0%1.3x
2023-076.7x₹15971 cr8.8%9.0%1.3x
2023-066.6x₹15971 cr8.8%9.0%1.3x
2023-055.0x₹16856 cr10.2%9.0%2.1x
2023-044.8x₹16856 cr10.2%9.0%2.1x
2023-034.3x₹16856 cr10.2%9.0%2.1x
2023-024.4x₹16856 cr10.2%9.0%2.1x
2023-014.8x₹16856 cr10.2%9.0%2.1x
2022-124.1x₹16856 cr10.2%9.0%2.1x
2022-114.4x₹16856 cr10.2%9.0%2.1x
2022-103.6x₹16856 cr10.2%9.0%2.1x
2022-093.8x₹16856 cr10.2%9.0%2.1x
2022-084.2x₹16856 cr10.2%9.0%2.1x
2022-074.2x₹16856 cr10.2%9.0%2.1x
2022-063.8x₹16856 cr10.2%9.0%2.1x
2022-055.0x₹18346 cr9.0%10.0%2.6x
2022-045.2x₹18346 cr9.0%10.0%2.6x
2022-034.6x₹18346 cr9.0%10.0%2.6x
2022-024.8x₹18346 cr9.0%10.0%2.6x
2022-015.4x₹18346 cr9.0%10.0%2.6x
2021-126.2x₹18346 cr9.0%10.0%2.6x

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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