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PUNJAB CHEMICALS AND CROP PROT (PUNJABCHEM)

Process Industries · Chemicals: Agricultural · figures to Nov '26

Divergence: business ahead of price (2 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.58 / 100
Profitability 66Growth 47Balance sheet 59
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.61 / 100
Price 17Earnings 74FII/DII 93

Passes these screensQuality CompounderDebt-light & profitableBusiness ahead of priceLittle growth priced in

Compare withFERTILIZERS AND CHEMICALS TRAVUPLSUMITOMO CHEMICAL INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹906.85 latest close · −15.9% over the last 90 sessions

₹900₹1,000₹1,100₹1,200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹900₹1,000₹1,100₹1,200Jul 3Sep 4Nov 9

₹906.85 month-end · −35.9% over 12 months

₹1,000₹1,200₹1,400Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,000₹1,200₹1,400Nov '25May '26Nov '26

₹906.85 month-end · −26.8% over 3 years

₹750₹1,000₹1,250₹1,500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹750₹1,000₹1,250₹1,500Nov '23May '25Nov '26

₹906.85 month-end · +32.6% since Jan '19

₹500₹1,000₹1,500₹2,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000₹1,500₹2,000Jan '19Dec '22Nov '26

52-week range ₹856.55 to ₹1440.00 · 1-year volatility 38.0%

Was the rally earned?

-36%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 28 points, but investors now pay less per rupee of profit (P/E 37.6x to 17.0x), which took 64 points back.
  • The share count barely moved.
Net profit growth: +28 pts. Points of the price return explained by net profit growing (or shrinking).+28 ptsNet profit growthP/E change: −64 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−64 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: −36%−36%Share priceNet profit growth: +28 pts. Points of the price return explained by net profit growing (or shrinking).+28ProfitP/E change: −64 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−64P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −36%−36%Share price
Net profit growth+28 ptsNet profit rose about 42%, which lifts the price.
P/E change-64 ptsThe P/E fell from 37.6x to 17.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-27%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 6 points, but investors now pay less per rupee of profit (P/E 24.9x to 17.0x), which took 33 points back.
  • The share count barely moved.
Net profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6 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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −27%−27%Share priceNet profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6ProfitP/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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −27%−27%Share price
Net profit growth+6 ptsNet profit rose about 7%, which lifts the price.
P/E change-33 ptsThe P/E fell from 24.9x to 17.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-35%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 23 points, but investors now pay less per rupee of profit (P/E 35.1x to 17.0x), which took 59 points back.
  • The share count barely moved.
Net profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23 ptsNet profit growthP/E change: −59 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−59 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: −35%−35%Share priceNet profit growth: +23 pts. Points of the price return explained by net profit growing (or shrinking).+23ProfitP/E change: −59 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−59P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −35%−35%Share price
Net profit growth+23 ptsNet profit rose about 33%, which lifts the price.
P/E change-59 ptsThe P/E fell from 35.1x to 17.0x, which lowers 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 FERTILIZERS AND CHEMICALS TRAV

How rough has the ride been?

Maximum drawdown-64.7%recovered 2020-12
1-year volatility38.0%annualised
Beta vs sector index0.973-year daily, correlation 0.37
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−63.8% 0%−20%−40%−60%2020202220242026−63.8%
Largest drawdowns

-64.7% (2019-04 peak to 2020-03 low, recovered 2020-12)

-63.8% (2021-08 peak to 2025-02 low, not yet recovered)

Most recent volume spikes

2026-11-03: 5.3x the 50-day median, price -4.1% that day

2026-08-26: 6.8x the 50-day median, price +2.6% that day

2026-07-31: 23x the 50-day median, price -5.1% 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?

17.0xP/E todayNear its historic low
Against its own history7th percentile
CheapestMedian 32.8xDearest

Usual range 17.7x to 59.8x since 2019-01.

Against Process Industries17.0x vs 18.1x
This company
17.0x
Sector median
18.1x

6% below the Process Industries median.

6.8x47.3x87.8x128.3xJan '19Aug '20Mar '22Oct '23May '25Nov '266.8x47.3x87.8x128.3xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

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

  • ROCE79th▲ 13 pts vs a year ago
  • Op. margin53rd▼ 3 pts vs a year ago
  • Revenue growth51st▼ 5 pts vs a year ago
  • EPS growth74th▲ 20 pts vs a year ago
  • Debt/equity ↓50th▲ 5 pts vs a year ago
  • Cash cycle ↓47thflat vs a year ago
  • P/E ↓55th▲ 29 pts vs a year ago
  • 12M momentum12th▼ 78 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~14%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 18.6x, a holder earning 12%/yr needs earnings to grow about 14.0%/yr for 10 years, then trade at 15x.

Delivered41.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−27.2 ptsimplied minus delivered
Rank810thmost demanding of 856

Over time

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

0%43%86% Jan 2019Nov 2026 0%43%86% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x15.5%16.6%17.6%
15x13.0%14.0%15.1%
20x9.9%10.9%11.9%

Drag a slider to test other assumptions

Implied: 14.0%/yr

Looking back

  • Jan 2020Price implied 32%/yr; EPS has since grown 21%/yr (7.0 yrs)
  • Jan 2021Price implied 40%/yr; EPS has since grown 34%/yr (6.0 yrs)
  • Jan 2022Price implied 38%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹906.85
P/E
17.0x
ROCE
19.0%
Market Cap
₹1112 cr
Revenue (TTM)
₹1058 cr
P/S
1.1x
P/B
2.6x
ROE
15.5%
Operating Margin
12.0%
Debt / Equity
0.4x
Promoter Holding
39.2%
12M Momentum
-35.9%

52-week range

₹856.55₹1440.00
9% of the way from its 52-week low to its high

Price risk

1Y volatility
38.0%
Beta vs sector
1-year daily
0.89

Balance sheet & cash

Interest cover
operating profit ÷ interest
6.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.90x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance10%Within range

Other income as a share of pre-tax profit (trailing twelve months): 10.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.90xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.90x (cash from operations ₹141 cr, net profit ₹157 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-5 daysWithin range

Debtor days are below the median of the previous three fiscal years by 5 days (72 vs 77). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress7% of fixed assetsWithin range

Capital work-in-progress is 7% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+27 days / 2 yrsWithin range

Days payable changed by +27 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

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

All terms explained in the glossary →

Who has been buying and selling?

  • Over 3 years, FIIs added 2.9 pts.
  • The number of shareholders fell from 22,168 to 19,497 (-12%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters39.2%39.2%0.0 pts
FIIs3.0%5.9%+2.9 pts
DIIs0.1%0.6%+0.5 pts
Public and others57.6%54.3%-3.4 pts

Number of shareholders

19,497shareholders-12% since Sep '23
19k20k21k22k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 22,168
Dec '23: 21,183
Mar '24: 21,336
Jun '24: 20,685
Sep '24: 21,302
Dec '24: 21,267
Mar '25: 21,044
Jun '25: 20,205
Sep '25: 20,641
Dec '25: 19,450
Mar '26: 19,299
Jun '26: 19,497
 19k20k21k22k Sep '23Sep '24Sep '25Jun '26
Sep '23: 22,168
Dec '23: 21,183
Mar '24: 21,336
Jun '24: 20,685
Sep '24: 21,302
Dec '24: 21,267
Mar '25: 21,044
Jun '25: 20,205
Sep '25: 20,641
Dec '25: 19,450
Mar '26: 19,299
Jun '26: 19,497

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

+0.6%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 PUNJAB CHEMICALS AND CROP PROT 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 −17% to +42% vs the market, against +1% for all non-financial companies in the same months.
  • The gap against the base rate (+0.1%, 80% range −7.8% to +9.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
NOVAAGRI · Jul 2025: −59.8% vs market
LUMAXIND · Jan 2021: −40.4% vs market
HUHTAMAKI · Jul 2021: −39.7% vs market
RUPA · May 2023: −35.4% vs market
REMSONSIND · Mar 2025: −32.2% vs market
SOMANYCERA · Aug 2024: −31.1% vs market
INDOCO · Oct 2023: −29.9% vs market
SIYSIL · Mar 2020: −29.7% vs market
GANESHBE · Oct 2023: −28.2% vs market
BIRLANU · Jun 2022: −27.3% vs market
INDIANHUME · Feb 2020: −24.1% vs market
RANEHOLDIN · Feb 2020: −21.3% vs market
PLASTIBLEN · Oct 2021: −17.0% vs market
ASTRON · Mar 2021: −15.5% vs market
LINC · Apr 2025: −11.6% vs market
AARTIDRUGS · May 2024: −11.4% vs market
GVT&D · Apr 2021: −10.9% vs market
APEX · May 2021: −9.8% vs market
AWHCL · Feb 2022: −7.2% vs market
PSPPROJECT · Apr 2024: −7.1% vs market
MEGATHERM · Oct 2025: −6.8% vs market
HARSHA · Jan 2024: −5.0% vs market
TPLPLASTEH · Jul 2025: −4.3% vs market
JKIL · Nov 2020: −2.4% vs market
SHAKTIPUMP · Jun 2022: −1.7% vs market
NILKAMAL · Apr 2022: +2.9% vs market
RAJRATAN · Feb 2025: +4.4% vs market
TVSSRICHAK · Apr 2020: +6.1% vs market
KNRCON · Oct 2022: +8.0% vs market
PIXTRANS · Apr 2023: +13.7% vs market
TIRUMALCHM · Jul 2023: +15.4% vs market
PRECWIRE · Aug 2020: +17.5% vs market
FAZE3Q · Nov 2024: +20.9% vs market
NRBBEARING · Mar 2022: +22.4% vs market
GREENPLY · Dec 2022: +29.8% vs market
FSL · Jan 2023: +36.2% vs market
ORIENTCEM · Oct 2022: +38.6% vs market
JKLAKSHMI · Jun 2022: +42.4% vs market
TCI · Jul 2020: +55.3% vs market
HINDWAREAP · Aug 2022: +64.5% vs market
DOLLAR · Sep 2020: +67.2% vs market
BHAGCHEM · Jan 2024: +88.5% vs market
ADOR · Dec 2020: +94.0% vs market
GNA · Dec 2020: +97.9% vs market
LUMAXTECH · Sep 2021: +99.6% vs market
NCLIND · Jul 2020: +106.7% vs market
MANGCHEFER · Jun 2024: +110.6% vs market
VRLLOG · Apr 2021: +112.5% vs market
KIRLOSBROS · Jun 2020: +121.9% vs market
SMSPHARMA · Feb 2020: +170.5% vs market
Similar setups +0.6%All companies +0.5%← 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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
+0.6%
All companies' median
+0.5%
Beat the market
50% vs 51%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
APEX
Consumer Non-Durables		 May 2021 14x18% +45%−16% −10%
TCI
Transportation		 Jul 2020 9x14% −34%−44% +55%
SHAKTIPUMP
Producer Manufacturing		 Jun 2022 14x21% −35%−41% −2%
TPLPLASTEH
Process Industries		 Jul 2025 26x20% −39%−39% −4%
INDOCO
Health Technology		 Oct 2023 21x17% −10%−24% −30%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DOLLAR
Consumer Non-Durables		 Sep 2020 14x14% −29%−33% +67%
SIYSIL
Process Industries		 Mar 2020 7x17% −67%−68% −30%
HUHTAMAKI
Process Industries		 Jul 2021 26x— +25%−11% −40%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to PUNJAB CHEMICALS AND CROP PROT. 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.

KAMDHENUKAMDHENU
Non-Energy Minerals
69%similar
market capdebt/equity
GREENPANEL INDUSTRIESGREENPANEL
Non-Energy Minerals
63%similar
volatilityoperating margin
CELLECOR GADGETSCELLECOR
Consumer Durables
59%similar
P/Erevenue
GUJARAT INDUSTRIES POWER CO LGIPCL
Utilities
59%similar
EPS growthvolatility
MOLD-TEK PACKAGINGMOLDTKPAC
Producer Manufacturing
58%similar
promoter holdingEPS growth
TAMILNADU PETROPRODUCTSTNPETRO
Process Industries
59%similar
market capvolatility
SOUTHERN PETROCHEMICAL INDUSTRSPIC
Process Industries
58%similar
revenue growthmarket cap
20 MICRONS20MICRONS
Process Industries
57%similar
revenuedebt/equity

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

What changed?

30 events since Aug '22

  1. NovPriceVolume reached 5.3x its 50-day median on 2026-11-03; price -4.1% that day.
  2. OctValuationP/E fell below the 10th percentile of its own history to date (17.8x).
  3. SepPeer rankSlipped to the 2nd quartile of Process Industries on EPS growth (from the top quartile).
  4. JulPriceVolume reached 24.4x its 50-day median on 2026-07-01; price +0.3% that day.
  5. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  6. JunPriceVolume reached 15.2x its 50-day median on 2026-06-19; price +2.6% that day.
  7. MarResultsRevenue (TTM) reached a new high of ₹1,024 cr.
  8. MarPeer rankMoved into the top quartile of Process Industries on EPS growth (from the 2nd quartile).
Show 22 earlier events
  1. MarPriceVolume reached 11.4x its 50-day median on 2026-03-27; price -9.9% that day.
  2. NovPriceVolume reached 10.0x its 50-day median on 2025-11-03; price -10.1% that day.
  3. SepResultsYear-on-year EPS growth turned positive.
  4. SepPeer rankMoved into the 2nd quartile of Process Industries on EPS growth (from the bottom quartile).
  5. JulPriceVolume reached 219.3x its 50-day median on 2025-07-29; price +14.4% that day.
  6. JunPeer rankSlipped to the 2nd quartile of Process Industries on ROCE (from the top quartile).
  7. AprPriceVolume reached 36.0x its 50-day median on 2025-04-30; price +3.3% that day.
  8. MarPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  9. MarPriceVolume reached 76.6x its 50-day median on 2025-03-28; price +10.5% that day.
  10. FebPriceFell 64% from the Aug 2021 peak to the Feb 2025 low.
  11. DecPriceVolume reached 6.4x its 50-day median on 2024-12-19; price +8.2% that day.
  12. SepPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  13. AugPriceVolume reached 7.8x its 50-day median on 2024-08-22; price +5.8% that day.
  14. JunPriceVolume reached 30.5x its 50-day median on 2024-06-26; price +6.6% that day.
  15. MarPriceVolume reached 11.2x its 50-day median on 2024-03-04; price +4.6% that day.
  16. OctPriceVolume reached 7.3x its 50-day median on 2023-10-06; price +10.4% that day.
  17. AugPriceVolume reached 46.2x its 50-day median on 2023-08-04; price +10.3% that day.
  18. JunResultsYear-on-year EPS growth turned negative.
  19. JunPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
  20. JunPriceVolume reached 22.0x its 50-day median on 2023-06-13; price +12.4% that day.
  21. OctPriceVolume reached 10.3x its 50-day median on 2022-10-20; price +2.8% that day.
  22. AugPriceVolume reached 7.6x its 50-day median on 2022-08-17; price +2.4% 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
2026-1117.0x₹1058 cr15.5%19.0%0.4x
2026-1017.8x₹1058 cr15.6%19.0%0.4x
2026-0919.8x₹1058 cr15.6%19.0%0.4x
2026-0821.4x₹1031 cr15.4%19.0%0.4x
2026-0721.9x₹1031 cr15.4%19.0%0.4x
2026-0620.6x₹1031 cr15.4%19.0%0.4x
2026-0521.1x₹1024 cr16.8%15.0%0.5x
2026-0424.1x₹1024 cr16.8%15.0%0.5x
2026-0318.2x₹1024 cr16.8%15.0%0.5x
2026-0227.8x₹991 cr14.6%15.0%0.5x
2026-0128.4x₹991 cr14.6%15.0%0.5x
2025-1228.4x₹991 cr14.6%15.0%0.5x
2025-1137.6x₹978 cr12.6%15.0%0.5x
2025-1039.7x₹978 cr12.6%15.0%0.5x
2025-0936.0x₹978 cr12.6%15.0%0.5x
2025-0836.7x₹900 cr10.4%15.0%0.5x
2025-0745.7x₹900 cr10.4%15.0%0.5x
2025-0640.1x₹900 cr10.4%15.0%0.5x
2025-0542.4x₹895 cr10.0%22.0%0.4x
2025-0439.8x₹895 cr10.0%22.0%0.4x
2025-0333.1x₹895 cr10.0%22.0%0.4x
2025-0223.2x₹895 cr11.5%22.0%0.4x
2025-0125.6x₹895 cr11.5%22.0%0.4x
2024-1232.8x₹895 cr11.5%22.0%0.4x
2024-1128.5x₹895 cr13.3%22.0%0.4x
2024-1030.6x₹895 cr13.3%22.0%0.4x
2024-0934.8x₹895 cr13.3%22.0%0.4x
2024-0830.1x₹934 cr16.1%22.0%0.4x
2024-0730.8x₹934 cr16.1%22.0%0.4x
2024-0632.4x₹934 cr16.1%22.0%0.4x
2024-0523.5x₹1006 cr21.8%31.0%0.3x
2024-0424.1x₹1006 cr21.8%31.0%0.3x
2024-0319.9x₹1006 cr21.8%31.0%0.3x
2024-0221.1x₹1006 cr21.8%31.0%0.3x
2024-0123.2x₹1006 cr21.8%31.0%0.3x
2023-1226.5x₹1006 cr21.8%31.0%0.3x
2023-1124.9x₹1006 cr21.8%31.0%0.3x
2023-1025.3x₹1006 cr21.8%31.0%0.3x
2023-0922.2x₹1006 cr21.8%31.0%0.3x
2023-0823.6x₹1006 cr21.8%31.0%0.3x
2023-0717.6x₹1006 cr21.8%31.0%0.3x
2023-0618.4x₹1006 cr21.8%31.0%0.3x
2023-0511.4x₹933 cr36.9%45.0%0.4x
2023-0411.7x₹933 cr36.9%45.0%0.4x
2023-0312.2x₹933 cr36.9%45.0%0.4x
2023-0213.0x₹933 cr36.9%45.0%0.4x
2023-0114.1x₹933 cr36.9%45.0%0.4x
2022-1216.6x₹933 cr36.9%45.0%0.4x
2022-1117.4x₹933 cr36.9%45.0%0.4x
2022-1018.4x₹933 cr36.9%45.0%0.4x
2022-0918.0x₹933 cr36.9%45.0%0.4x
2022-0819.8x₹933 cr36.9%45.0%0.4x
2022-0719.5x₹933 cr36.9%45.0%0.4x
2022-0617.5x₹933 cr36.9%45.0%0.4x
2022-0531.3x₹678 cr34.0%38.0%0.6x
2022-0435.5x₹678 cr34.0%38.0%0.6x
2022-0336.5x₹678 cr34.0%38.0%0.6x
2022-0234.8x₹678 cr34.0%38.0%0.6x
2022-0138.6x₹678 cr34.0%38.0%0.6x
2021-1236.5x₹678 cr34.0%38.0%0.6x

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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