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RAMA STEEL TUBES LIMITED (RAMASTEEL)

Non-Energy Minerals · Steel · 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.32 / 100
Profitability 20Growth 13Balance sheet 63
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.33 / 100
Price 27Earnings 39
Compare withJSW STEELTATA STEELJINDAL STEEL

Share price

Closing priceAdjusted for splits and bonus issues.

₹4.09 latest close · −14.3% over the last 90 sessions

₹4₹5Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹4₹5Jul 3Sep 4Nov 9

₹4.09 month-end · −58.7% over 12 months

₹4₹6₹8₹10Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹4₹6₹8₹10Nov '25May '26Nov '26

₹4.09 month-end · −67.5% over 3 years

₹5₹10₹15Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹5₹10₹15Nov '23May '25Nov '26

₹4.09 month-end · +203.0% since Jan '19

₹0₹5₹10₹15Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹5₹10₹15Jan '19Dec '22Nov '26

52-week range ₹3.43 to ₹11.29 · 1-year volatility 50.1%

Was the rally earned?

-59%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings took off 37 points and the multiple took off 22 points (P/E 70.8x to 51.1x).
  • The share count barely moved.
Net profit growth: −38 pts. Points of the price return explained by net profit growing (or shrinking).−38 ptsNet profit growthP/E change: −22 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−22 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: −59%−59%Share priceNet profit growth: −38 pts. Points of the price return explained by net profit growing (or shrinking).−38ProfitP/E change: −22 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−22P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −59%−59%Share price
Net profit growth-38 ptsNet profit fell about 44%, which lowers the price.
P/E change-22 ptsThe P/E fell from 70.8x to 51.1x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-68%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 52 points, while the multiple moved less (P/E 66.3x to 51.1x).
  • The share count rose 7%.
Net profit growth: −48 pts. Points of the price return explained by net profit growing (or shrinking).−48 ptsNet profit growthP/E change: −16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−16 ptsP/E changeShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4 ptsShare count changeShare price: −67%−67%Share priceNet profit growth: −48 pts. Points of the price return explained by net profit growing (or shrinking).−48ProfitP/E change: −16 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−16P/EShare count change: −4 pts. Points of the price return explained by the share count changing. More shares count against the price.−4SharesShare price: −67%−67%Share price
Net profit growth-48 ptsNet profit fell about 55%, which lowers the price.
P/E change-16 ptsThe P/E fell from 66.3x to 51.1x, which lowers the price.
Share count change-4 ptsShare count rose 7%, which lowers the price.
+34%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 30.5x to 51.1x); per-share earnings took off 26 points.
  • The share count rose 26%.
Net profit growth: +1 pts. Points of the price return explained by net profit growing (or shrinking).+1 ptsNet profit growthP/E change: +60 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+60 ptsP/E changeShare count change: −27 pts. Points of the price return explained by the share count changing. More shares count against the price.−27 ptsShare count changeShare price: +34%+34%Share priceNet profit growth: +1 pts. Points of the price return explained by net profit growing (or shrinking).+1ProfitP/E change: +60 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+60P/EShare count change: −27 pts. Points of the price return explained by the share count changing. More shares count against the price.−27SharesShare price: +34%+34%Share price
Net profit growth+1 ptsNet profit was little changed.
P/E change+60 ptsThe P/E rose from 30.5x to 51.1x, which lifts the price.
Share count change-27 ptsShare count rose 26%, 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 JSW STEEL

How rough has the ride been?

Maximum drawdown-87.9%recovered 2021-06
1-year volatility50.1%annualised
Beta vs sector index0.963-year daily, correlation 0.37
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−84.8% 0%−25%−50%−75%2020202220242026−84.8%
Largest drawdowns

-87.9% (2019-04 peak to 2020-03 low, recovered 2021-06)

-78.0% (2024-09 peak to 2026-03 low, not yet recovered)

-38.3% (2023-01 peak to 2023-03 low, recovered 2023-08)

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?

51.1xP/E todayWithin its usual range
Against its own history49th percentile
CheapestMedian 51.5xDearest

Usual range 10.7x to 72.7x since 2019-01.

Against Non-Energy Minerals51.1x vs 21.8x
This company
51.1x
Sector median
21.8x

135% above the Non-Energy Minerals median.

3.6x29.3x55.0x80.7xJan '19Aug '20Mar '22Oct '23May '25Nov '263.6x29.3x55.0x80.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

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P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

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P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

  • ROCE26th▼ 3 pts vs a year ago
  • Op. margin14th▲ 5 pts vs a year ago
  • Revenue growth19th▼ 60 pts vs a year ago
  • EPS growth15th▼ 12 pts vs a year ago
  • Debt/equity ↓54th▼ 5 pts vs a year ago
  • Cash cycle ↓68th▼ 17 pts vs a year ago
  • P/E ↓16th▲ 6 pts vs a year ago
  • 12M momentum2nd▼ 33 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~18%annual earnings growth implied by the price

At a P/E of 26.0x, the price would imply about 18.3%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹4.09
P/E
51.1x
ROCE
5.0%
Market Cap
₹667 cr
Revenue (TTM)
₹1079 cr
P/S
0.6x
P/B
1.4x
ROE
2.7%
Operating Margin
2.7%
Debt / Equity
0.3x
Promoter Holding
34.2%
12M Momentum
-58.7%

52-week range

₹3.43₹11.29
8% of the way from its 52-week low to its high

Price risk

1Y volatility
50.1%
Beta vs sector
1-year daily
1.00

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.63x
low
Share count, 1Y
+5.8%

Are profits backed by cash?

3 of 7checks within range2 beyond a threshold
Other income reliance69%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 69.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.1%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.62xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.62x (cash from operations ₹-40 cr, net profit ₹64 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+22 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 22 days (98 vs 76). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress4% of fixed assetsWithin range

Capital work-in-progress is 4% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+2 days / 2 yrsWithin range

Days payable changed by +2 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 trimmed 23.0 pts; FIIs added 2.4 pts; DIIs trimmed 0.6 pts.
  • The number of shareholders rose from 74,086 to 8.1 lakh (+991%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters57.2%34.2%-23.0 pts
FIIs0.3%2.7%+2.4 pts
DIIs0.6%0.0%-0.6 pts
Public and others41.8%63.1%+21.3 pts

Number of shareholders

8.1 lakhshareholders+991% since Dec '23
74k3.5L6.2L9.0L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 74,086
Mar '24: 1.6 lakh
Jun '24: 2.8 lakh
Sep '24: 8.5 lakh
Dec '24: 8.5 lakh
Mar '25: 8.4 lakh
Jun '25: 9.0 lakh
Sep '25: 8.6 lakh
Dec '25: 8.2 lakh
Mar '26: 8.1 lakh
Jun '26: 8.1 lakh
 74k3.5L6.2L9.0L Dec '23Dec '24Dec '25Jun '26
Dec '23: 74,086
Mar '24: 1.6 lakh
Jun '24: 2.8 lakh
Sep '24: 8.5 lakh
Dec '24: 8.5 lakh
Mar '25: 8.4 lakh
Jun '25: 9.0 lakh
Sep '25: 8.6 lakh
Dec '25: 8.2 lakh
Mar '26: 8.1 lakh
Jun '26: 8.1 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

0%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 RAMA STEEL TUBES 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 −26% to +37% vs the market, against −6% for all non-financial companies in the same months.
  • The gap against the base rate (+6.2%, 80% range −1.4% to +13.4%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
KAMOPAINTS · Oct 2025: −50.5% vs market
RAYMONDLSL · Sep 2025: −45.0% vs market
INVENTURE · Jul 2025: −43.8% vs market
PLAZACABLE · Oct 2024: −40.2% vs market
GOLDTECH · Dec 2024: −39.0% vs market
EVERESTIND · Nov 2024: −37.9% vs market
ONMOBILE · Aug 2024: −35.4% vs market
ACLGATI · Aug 2024: −34.1% vs market
EXXARO · Mar 2024: −33.2% vs market
COASTCORP · Aug 2023: −32.2% vs market
BIRLACABLE · Oct 2024: −30.4% vs market
ALANKIT · Jun 2022: −28.9% vs market
NECLIFE · Jun 2022: −26.6% vs market
WIPL · Sep 2020: −22.5% vs market
PARAGMILK · Jan 2022: −16.7% vs market
THEINVEST · Dec 2021: −16.2% vs market
INCREDIBLE · Jan 2021: −11.5% vs market
OAL · Mar 2024: −10.6% vs market
HTMEDIA · Jan 2020: −8.5% vs market
NECCLTD · Mar 2023: −7.5% vs market
ELIN · Jan 2024: −7.2% vs market
MANALIPETC · Dec 2024: −5.9% vs market
V2RETAIL · Jan 2020: −3.3% vs market
PRECAM · Jul 2024: −2.2% vs market
KHADIM · Jun 2022: −1.7% vs market
DUCON · Sep 2023: +1.7% vs market
DYNPRO · Jun 2024: +1.9% vs market
REPRO · Oct 2024: +5.3% vs market
PPAP · Dec 2021: +6.9% vs market
MEGASTAR · Nov 2024: +7.6% vs market
NIPPOBATRY · Jul 2022: +14.2% vs market
CAPACITE · Mar 2022: +14.4% vs market
AHLADA · Jun 2022: +15.0% vs market
DIAMONDYD · Aug 2024: +15.3% vs market
VIPCLOTHNG · May 2024: +15.8% vs market
STYRENIX · Jun 2022: +16.7% vs market
ISFT · Jun 2020: +34.1% vs market
ISGEC · Jul 2022: +37.6% vs market
DPSCLTD · Nov 2022: +38.4% vs market
LOKESHMACH · May 2025: +45.6% vs market
DCAL · Jan 2023: +64.9% vs market
BALAJITELE · Oct 2024: +71.5% vs market
MADHAVBAUG · Nov 2024: +80.0% vs market
SANGHIIND · Jul 2022: +116.1% vs market
RKFORGE · Jun 2020: +148.9% vs market
PARACABLES · Jun 2022: +170.2% vs market
SOMANYCERA · Aug 2020: +173.4% vs market
IGPL · Jun 2020: +181.8% vs market
KABRAEXTRU · Oct 2025: +205.0% vs market
HFCL · Aug 2025: +229.3% vs market
Similar setups 0%All companies −6.2%← 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 · 7 beyond the range shown, drawn at the edge

Similar setups' median
0%
All companies' median
−6.2%
Beat the market
50% vs 43%

50 past situations · 50 companies · 29 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HTMEDIA
Consumer Services		 Jan 2020 —3% −61%−67% −9%
DCAL
Health Technology		 Jan 2023 74x1% −57%−60% +65%
STYRENIX
Process Industries		 Jun 2022 71x— −47%−58% +17%
OAL
Process Industries		 Mar 2024 51x5% −15%−39% −11%
EXXARO
Producer Manufacturing		 Mar 2024 53x6% −17%−43% −33%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
INCREDIBLE
Non-Energy Minerals		 Jan 2021 105x4% −42%−43% −12%
EVERESTIND
Distribution Services		 Nov 2024 79x4% −29%−42% −38%
DUCON
Distribution Services		 Sep 2023 67x7% −46%−50% +2%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, interest cover and 12-month momentum. 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 RAMA STEEL TUBES 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.

ZIM LABORATORIESZIMLAB
Health Technology
73%similar
ROCEoperating margin
VASCON ENGINEERSVASCONEQ
Industrial Services
72%similar
ROCEoperating margin
ONMOBILE GLOBALONMOBILE
Communications
67%similar
operating marginmarket cap
XPRO INDIAXPROINDIA
Process Industries
62%similar
ROCEEPS growth
DCM SHRIRAM INDUSTRIESDCMSRIND
Miscellaneous
61%similar
operating marginrevenue growth
RUSHIL DECORRUSHIL
Non-Energy Minerals
49%similar
volatilityROCE
ELECTROSTEEL CASTINGSELECTCAST
Non-Energy Minerals
47%similar
ROCErevenue growth
MSP STEEL & POWERMSPL
Non-Energy Minerals
46%similar
P/Edebt/equity

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

What changed?

30 events since Oct '23

  1. SepInstitutionsFII + DII holding fell 3.0 pts over 2 quarters to 2.7%.
  2. AugPeer rankMoved into the 3rd quartile of Non-Energy Minerals on ROCE (from the bottom quartile).
  3. JunPeer rankSlipped to the bottom quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
  4. JunSharesShare count is up 5.8% over 12 months.
  5. JunPriceVolume reached 5.0x its 50-day median on 2026-06-17; price -2.2% that day.
  6. MarPriceFell 78% from the Sep 2024 peak to the Mar 2026 low.
  7. MarPriceVolume reached 7.5x its 50-day median on 2026-03-30; price -15.2% that day.
  8. DecPromoterPromoter holding fell 10.1 pts to 37.8% (largest drop in the history since 2019-01).
Show 22 earlier events
  1. DecInstitutionsFII + DII holding rose 5.0 pts over 2 quarters to 5.5%.
  2. DecPeer rankSlipped to the bottom quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
  3. DecPriceVolume reached 8.1x its 50-day median on 2025-12-11; price +8.9% that day.
  4. OctValuationP/E crossed above the 90th percentile of its own history to date (73.1x).
  5. SepPriceVolume reached 61.7x its 50-day median on 2025-09-16; price -2.9% that day.
  6. JunPriceVolume reached 25.9x its 50-day median on 2025-06-06; price +4.5% that day.
  7. MayValuationP/E crossed above the 90th percentile of its own history to date (72.9x).
  8. JanPriceVolume reached 11.0x its 50-day median on 2025-01-21; price +7.7% that day.
  9. DecPromoterPromoter holding fell 8.4 pts to 48.0%.
  10. DecResultsYear-on-year EPS growth turned negative.
  11. SepPriceRegained the 2024-01 peak, 1 month after the low.
  12. SepValuationP/E crossed above the 90th percentile of its own history to date (76.2x).
  13. SepPriceVolume reached 29.3x its 50-day median on 2024-09-06; price +19.1% that day.
  14. AugPriceFell 37% from the Jan 2024 peak to the Aug 2024 low.
  15. JulSharesShare count is up 200.0% over 12 months.
  16. JunResultsYear-on-year EPS growth turned positive.
  17. JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
  18. JanPriceRegained the 2023-08 peak, 3 months after the low.
  19. JanPriceVolume reached 19.2x its 50-day median on 2024-01-20; price +17.3% that day.
  20. NovValuationP/E crossed above the 90th percentile of its own history to date (66.3x).
  21. NovPriceVolume reached 7.5x its 50-day median on 2023-11-08; price +8.1% that day.
  22. OctPriceFell 26% from the Aug 2023 peak to the Oct 2023 low.

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
2026-1151.1x₹1079 cr2.7%5.0%0.3x
2026-1046.9x₹1079 cr2.7%5.0%0.3x
2026-0957.0x₹1079 cr2.7%5.0%0.3x
2026-0854.1x₹1124 cr2.7%5.0%0.3x
2026-0751.6x₹1124 cr2.7%5.0%0.3x
2026-0655.8x₹1124 cr2.7%5.0%0.3x
2026-0561.1x₹1171 cr3.8%7.0%0.2x
2026-0464.1x₹1171 cr3.8%7.0%0.2x
2026-0340.3x₹1171 cr3.8%7.0%0.2x
2026-0259.3x₹1157 cr5.4%7.0%0.2x
2026-0165.0x₹1157 cr5.4%7.0%0.2x
2025-1278.2x₹1157 cr5.4%7.0%0.2x
2025-1170.8x₹1100 cr6.4%7.0%0.2x
2025-1073.1x₹1100 cr6.4%7.0%0.2x
2025-0970.1x₹1100 cr6.4%7.0%0.2x
2025-0866.0x₹1048 cr6.7%7.0%0.2x
2025-0773.1x₹1048 cr6.7%7.0%0.2x
2025-0680.7x₹1048 cr6.7%7.0%0.2x
2025-0572.9x₹1023 cr7.6%12.0%0.4x
2025-0461.4x₹1023 cr7.6%12.0%0.4x
2025-0358.6x₹1023 cr7.6%12.0%0.4x
2025-0255.7x₹1010 cr8.7%12.0%0.4x
2025-0166.9x₹1010 cr8.7%12.0%0.4x
2024-1266.9x₹1010 cr8.7%12.0%0.4x
2024-1164.7x₹951 cr9.4%12.0%0.4x
2024-1071.9x₹951 cr9.4%12.0%0.4x
2024-0976.2x₹951 cr9.4%12.0%0.4x
2024-0851.9x₹1047 cr9.8%12.0%0.4x
2024-0751.5x₹1047 cr9.8%12.0%0.4x
2024-0657.1x₹1047 cr9.8%12.0%0.4x
2024-0562.6x₹1337 cr11.6%15.0%0.8x
2024-0470.0x₹1337 cr11.6%15.0%0.8x
2024-0375.8x₹1337 cr11.6%15.0%0.8x
2024-0270.3x₹1337 cr11.6%15.0%0.8x
2024-0179.2x₹1337 cr11.6%15.0%0.8x
2023-1263.2x₹1337 cr11.6%15.0%0.8x
2023-1166.3x₹1337 cr11.6%15.0%0.8x
2023-1058.2x₹1337 cr11.6%15.0%0.8x
2023-0962.4x₹1337 cr11.6%15.0%0.8x
2023-0866.6x₹1337 cr11.6%15.0%0.8x
2023-0772.9x₹1337 cr11.6%15.0%0.8x
2023-0664.7x₹1337 cr11.6%15.0%0.8x
2023-0560.7x₹768 cr23.1%21.0%1.1x
2023-0448.0x₹768 cr23.1%21.0%1.1x
2023-0342.3x₹768 cr23.1%21.0%1.1x
2023-0248.2x₹768 cr23.1%21.0%1.1x
2023-0157.5x₹768 cr23.1%21.0%1.1x
2022-1250.5x₹768 cr23.1%21.0%1.1x
2022-1149.8x₹768 cr23.1%21.0%1.1x
2022-1048.2x₹768 cr23.1%21.0%1.1x
2022-0932.5x₹768 cr23.1%21.0%1.1x
2022-0838.6x₹768 cr23.1%21.0%1.1x
2022-0726.1x₹768 cr23.1%21.0%1.1x
2022-0623.2x₹768 cr23.1%21.0%1.1x
2022-0547.0x₹470 cr12.9%13.0%0.8x
2022-0452.0x₹470 cr12.9%13.0%0.8x
2022-0341.5x₹470 cr12.9%13.0%0.8x
2022-0244.5x₹470 cr12.9%13.0%0.8x
2022-0147.0x₹470 cr12.9%13.0%0.8x
2021-1245.0x₹470 cr12.9%13.0%0.8x
2021-1130.5x₹470 cr12.9%13.0%0.8x
2021-1033.0x₹470 cr12.9%13.0%0.8x
2021-0932.5x₹470 cr12.9%13.0%0.8x
2021-0832.0x₹470 cr12.9%13.0%0.8x
2021-0724.0x₹470 cr12.9%13.0%0.8x
2021-0617.5x₹470 cr12.9%13.0%0.8x
2021-05—₹353 cr0.0%7.0%1.0x
2021-04—₹353 cr0.0%7.0%1.0x
2021-03—₹353 cr0.0%7.0%1.0x
2021-02—₹353 cr0.0%7.0%1.0x
2021-01—₹353 cr0.0%7.0%1.0x
2020-12—₹353 cr0.0%7.0%1.0x
2020-11—₹353 cr0.0%7.0%1.0x
2020-10—₹353 cr0.0%7.0%1.0x
2020-09—₹353 cr0.0%7.0%1.0x
2020-08—₹353 cr0.0%7.0%1.0x
2020-07—₹353 cr0.0%7.0%1.0x
2020-06—₹353 cr0.0%7.0%1.0x
2020-055.0x₹504 cr0.6%12.0%1.0x
2020-045.0x₹504 cr0.6%12.0%1.0x
2020-033.6x₹504 cr0.6%12.0%1.0x
2020-026.4x₹504 cr0.6%12.0%1.0x
2020-0110.0x₹504 cr0.6%12.0%1.0x
2019-129.3x₹504 cr0.6%12.0%1.0x
2019-117.9x₹504 cr0.6%12.0%1.0x
2019-1010.0x₹504 cr0.6%12.0%1.0x
2019-0910.7x₹504 cr0.6%12.0%1.0x
2019-0810.7x₹504 cr0.6%12.0%1.0x
2019-0711.4x₹504 cr0.6%12.0%1.0x
2019-0617.9x₹504 cr0.6%12.0%1.0x
2019-0513.0x₹377 cr18.0%20.0%0.8x
2019-0413.5x₹377 cr18.0%20.0%0.8x
2019-0315.0x₹377 cr18.0%20.0%0.8x
2019-0213.0x₹377 cr18.0%20.0%0.8x
2019-0113.5x₹377 cr18.0%20.0%0.8x

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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