52-week range
Price risk
Balance sheet & cash
What is the price implying?
Trailing earnings per share are negative, so a P/E-based figure does not exist. See the loss-makers list on the Expectations Gap page for a revenue-based version.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Process Industries The market-wide Expectations lists
What changed?
- Oct '26Fell 38% from the May 2025 peak to the Oct 2026 low.
- Jun '26Slipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
- Mar '26Moved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
- Dec '25Slipped to the bottom quartile of Process Industries on operating margin (from the 2nd quartile).
- Sep '25Slipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
- Apr '25Regained the 2025-02 peak, 1 month after the low.
- Mar '25Fell 34% from the Feb 2025 peak to the Mar 2025 low.
- Feb '25Regained the 2019-01 peak, 59 months after the low.
Show 6 earlier events
- Jun '21Debt / equity rose above 1.0x (1.36x).
- Jun '20EPS (TTM) turned negative.
- Jun '20Slipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- Mar '20Fell 66% from the Jan 2019 peak to the Mar 2020 low.
- Jun '19EPS (TTM) turned positive.
- Jun '19Moved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Are profits backed by cash?
2 of 4 checks are within range, 2 near a threshold.
Tap a check to see how it is measured.
Other income reliance—Not enough data
Not enough reported data to compute this.
Tax rate—Not enough data
Not enough reported data to compute this.
Cash conversion—Not enough data
Not enough reported data to compute this.
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+25 daysNear threshold
Debtor days are above the median of the previous three fiscal years by 25 days (65 vs 40). 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+200 days / 2 yrsNear threshold
Days payable changed by +200 over two years. Bands: rise of up to 30 days; more than 30 days.
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Over 2 years, institutional and promoter holdings were broadly unchanged.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-66.0% (2019-01 peak to 2020-03 low, recovered 2025-02)
-38.3% (2025-05 peak to 2026-10 low, not yet recovered)
-34.5% (2025-02 peak to 2025-03 low, recovered 2025-04)
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).
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 happened next to similar setups
- We found 50 past situations where a non-financial company looked like SHREE RAMA NEWSPRINT LTD 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 −23% to +45% vs the market, against 0% for all non-financial companies in the same months.
- The gap against the base rate (+0.5%, 80% range −9.9% to +3.8%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 6 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 33 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| EMAMIREAL Finance |
Dec 2024 | — | -4% | +15% | −19% | −39% |
| ORIENTHOT Consumer Services |
Jun 2021 | — | -7% | +98% | −9% | +46% |
| ASHIANA Finance |
Jun 2022 | — | -1% | −9% | −39% | +27% |
| SINTERCOM Producer Manufacturing |
Jun 2020 | — | 1% | −5% | −28% | −17% |
| TAJGVK Consumer Services |
May 2022 | — | -3% | +7% | −20% | +48% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| MAHLIFE Finance |
Dec 2021 | — | -3% | +100% | −16% | +45% |
| AHLEAST Consumer Services |
Aug 2022 | — | -1% | +28% | −13% | −10% |
| ASIANHOTNR Consumer Services |
Jun 2021 | — | -2% | +72% | −9% | −10% |
How reliable is this?
Matched on P/S, ROCE, operating margin, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, drawdown from 12-month high and 12-month momentum. Not used (unavailable for this company): P/E and debt/equity. This company is loss-making, so it was only compared with loss-making companies. 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.
Monthly history (94 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | — | ₹34 cr | — | 1.0% | — |
| 2026-09 | — | ₹34 cr | — | 1.0% | — |
| 2026-08 | — | ₹33 cr | — | 1.0% | — |
| 2026-07 | — | ₹33 cr | — | 1.0% | — |
| 2026-06 | — | ₹33 cr | — | 1.0% | — |
| 2026-05 | — | ₹36 cr | — | 2.0% | — |
| 2026-04 | — | ₹36 cr | — | 2.0% | — |
| 2026-03 | — | ₹36 cr | — | 2.0% | — |
| 2026-02 | — | ₹39 cr | — | 2.0% | — |
| 2026-01 | — | ₹39 cr | — | 2.0% | — |
| 2025-12 | — | ₹39 cr | — | 2.0% | — |
| 2025-11 | — | ₹41 cr | — | 2.0% | — |
| 2025-10 | — | ₹41 cr | — | 2.0% | — |
| 2025-09 | — | ₹41 cr | — | 2.0% | — |
| 2025-08 | — | ₹43 cr | — | 2.0% | — |
| 2025-07 | — | ₹43 cr | — | 2.0% | — |
| 2025-06 | — | ₹43 cr | — | 2.0% | — |
| 2025-05 | — | ₹45 cr | -124.7% | 1.0% | 3.9x |
| 2025-04 | — | ₹45 cr | -124.7% | 1.0% | 3.9x |
| 2025-03 | — | ₹45 cr | -124.7% | 1.0% | 3.9x |
| 2025-02 | — | ₹46 cr | -48.4% | 1.0% | 3.9x |
| 2025-01 | — | ₹46 cr | -48.4% | 1.0% | 3.9x |
| 2024-12 | — | ₹46 cr | -48.4% | 1.0% | 3.9x |
| 2024-11 | — | ₹46 cr | -51.6% | 1.0% | 3.9x |
| 2024-10 | — | ₹46 cr | -51.6% | 1.0% | 3.9x |
| 2024-09 | — | ₹46 cr | -51.6% | 1.0% | 3.9x |
| 2024-08 | — | ₹47 cr | -52.7% | 1.0% | 3.9x |
| 2024-07 | — | ₹47 cr | -52.7% | 1.0% | 3.9x |
| 2024-06 | — | ₹47 cr | -52.7% | 1.0% | 3.9x |
| 2024-05 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2024-04 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2024-03 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2024-02 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2024-01 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-12 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-11 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-10 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-09 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-08 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-07 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-06 | — | ₹47 cr | -83.7% | 0.0% | 2.6x |
| 2023-05 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2023-04 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2023-03 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2023-02 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2023-01 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-12 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-11 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-10 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-09 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-08 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-07 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-06 | — | ₹32 cr | -27.0% | 0.0% | 1.9x |
| 2022-05 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2022-04 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2022-03 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2022-02 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2022-01 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-12 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-11 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-10 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-09 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-08 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-07 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-06 | — | ₹265 cr | -23.4% | -5.0% | 1.4x |
| 2021-05 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2021-04 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2021-03 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2021-02 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2021-01 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-12 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-11 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-10 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-09 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-08 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-07 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-06 | — | ₹337 cr | -11.1% | -2.0% | 1.0x |
| 2020-05 | 4.5x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2020-04 | 4.9x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2020-03 | 4.4x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2020-02 | 5.3x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2020-01 | 5.5x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-12 | 5.5x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-11 | 5.5x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-10 | 6.3x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-09 | 6.5x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-08 | 5.4x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-07 | 6.4x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-06 | 7.4x | ₹504 cr | 8.4% | 9.0% | 0.7x |
| 2019-05 | — | ₹434 cr | -7.3% | -1.0% | 0.7x |
| 2019-04 | — | ₹434 cr | -7.3% | -1.0% | 0.7x |
| 2019-03 | — | ₹434 cr | -7.3% | -1.0% | 0.7x |
| 2019-02 | — | ₹434 cr | -7.3% | -1.0% | 0.7x |
| 2019-01 | — | ₹434 cr | -7.3% | -1.0% | 0.7x |