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STEEL AUTHORITY OF INDIA LTD (SAIL)

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.50 / 100
Profitability 56Growth 55Balance sheet 40
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.77 / 100
Price 62Earnings 76FII/DII 93

Passes these screensCash Rich

Compare withJSW STEELTATA STEELJINDAL STEEL

Share price

Closing priceAdjusted for splits and bonus issues.

₹169.59 latest close · −0.2% over the last 90 sessions

₹160₹180₹200Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹160₹180₹200Jul 3Sep 4Nov 9

₹169.59 month-end · +25.7% over 12 months

₹150₹175₹200Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹150₹175₹200Nov '25May '26Nov '26

₹169.59 month-end · +83.7% over 3 years

₹100₹150₹200Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹150₹200Nov '23May '25Nov '26

₹169.59 month-end · +260.8% since Jan '19

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

52-week range ₹124.00 to ₹209.70 · 1-year volatility 36.1%

Was the rally earned?

+26%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 39 points, but investors now pay less per rupee of profit (P/E 18.4x to 16.4x), which took 13 points back.
  • 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: −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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: +26%+26%Share priceNet profit growth: +38 pts. Points of the price return explained by net profit growing (or shrinking).+38ProfitP/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: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +26%+26%Share price
Net profit growth+38 ptsNet profit rose about 41%, which lifts the price.
P/E change-13 ptsThe P/E fell from 18.4x to 16.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+84%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 93 points, but investors now pay less per rupee of profit (P/E 17.5x to 16.4x), which took 9 points back.
  • The share count barely moved.
Net profit growth: +93 pts. Points of the price return explained by net profit growing (or shrinking).+93 ptsNet profit growthP/E change: −9 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−9 ptsP/E changeShare price: +84%+84%Share priceNet profit growth: +93 pts. Points of the price return explained by net profit growing (or shrinking).+93ProfitP/E change: −9 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−9P/EShare price: +84%+84%Share price
Net profit growth+93 ptsNet profit rose about 96%, which lifts the price.
P/E change-9 ptsThe P/E fell from 17.5x to 16.4x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+70%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 10.0x to 16.4x); per-share earnings added 4 points.
  • The share count barely moved.
Net profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4 ptsNet profit growthP/E change: +66 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+66 ptsP/E changeShare price: +70%+70%Share priceNet profit growth: +4 pts. Points of the price return explained by net profit growing (or shrinking).+4ProfitP/E change: +66 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+66P/EShare price: +70%+70%Share price
Net profit growth+4 ptsNet profit rose about 3%, which lifts the price.
P/E change+66 ptsThe P/E rose from 10.0x to 16.4x, which lifts 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 JSW STEEL

How rough has the ride been?

Maximum drawdown-65.6%recovered 2020-12
1-year volatility36.1%annualised
Beta vs sector index1.483-year daily, correlation 0.74
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−64.4% 0%−20%−40%−60%2020202220242026−64.4%
Largest drawdowns

-65.6% (2019-04 peak to 2020-03 low, recovered 2020-12)

-55.6% (2021-05 peak to 2022-06 low, recovered 2024-04)

-42.6% (2024-05 peak to 2025-02 low, recovered 2026-04)

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?

16.4xP/E todayWithin its usual range
Against its own history57th percentile
CheapestMedian 15.1xDearest

Usual range 2.8x to 23.8x since 2019-01.

Against Non-Energy Minerals16.4x vs 21.8x
This company
16.4x
Sector median
21.8x

25% below the Non-Energy Minerals median.

2.3x11.9x21.5x31.2xJan '19Aug '20Mar '22Oct '23May '25Nov '262.3x11.9x21.5x31.2xJan '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

  • ROCE39th▲ 10 pts vs a year ago
  • Op. margin74th▲ 25 pts vs a year ago
  • Revenue growth40thflat vs a year ago
  • EPS growth75th▲ 14 pts vs a year ago
  • Debt/equity ↓34thflat vs a year ago
  • Cash cycle ↓41st▲ 18 pts vs a year ago
  • P/E ↓67th▼ 7 pts vs a year ago
  • 12M momentum83rdflat 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?

~10%annual earnings growth implied by the price

At a P/E of 15.1x, the price would imply about 10.0%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“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
₹169.59
P/E
16.4x
ROCE
8.0%
Market Cap
₹70049 cr
Revenue (TTM)
₹1.11L cr
P/S
0.6x
P/B
1.2x
ROE
7.1%
Operating Margin
16.0%
Debt / Equity
0.5x
Promoter Holding
65.0%
12M Momentum
25.7%

52-week range

₹124.00₹209.70
53% of the way from its 52-week low to its high

Price risk

1Y volatility
36.1%
Beta vs sector
1-year daily
1.09

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
3.62x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance9%Within range

Other income as a share of pre-tax profit (trailing twelve months): 8.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate25%Within range

Median quarterly effective tax rate over about 2.5 years: 25.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion3.62xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 3.62x (cash from operations ₹31,864 cr, net profit ₹8,812 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-6 daysWithin range

Debtor days are below the median of the previous three fiscal years by 6 days (21 vs 27). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress14% of fixed assetsWithin range

Capital work-in-progress is 14% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-31 days / 2 yrsWithin range

Days payable changed by -31 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 3.4 pts; DIIs added 2.3 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters65.0%65.0%0.0 pts
FIIs3.7%7.1%+3.4 pts
DIIs14.6%16.9%+2.3 pts
Public and others16.7%11.1%-5.6 pts

Number of shareholders

15.1 lakhshareholders+2% since Sep '23
14.8L16.7L18.6L20.5L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 14.8 lakh
Dec '23: 15.0 lakh
Mar '24: 16.4 lakh
Jun '24: 18.4 lakh
Sep '24: 19.9 lakh
Dec '24: 20.4 lakh
Mar '25: 20.5 lakh
Jun '25: 19.1 lakh
Sep '25: 18.0 lakh
Dec '25: 17.1 lakh
Mar '26: 15.7 lakh
Jun '26: 15.1 lakh
 14.8L16.7L18.6L20.5L Sep '23Sep '24Sep '25Jun '26
Sep '23: 14.8 lakh
Dec '23: 15.0 lakh
Mar '24: 16.4 lakh
Jun '24: 18.4 lakh
Sep '24: 19.9 lakh
Dec '24: 20.4 lakh
Mar '25: 20.5 lakh
Jun '25: 19.1 lakh
Sep '25: 18.0 lakh
Dec '25: 17.1 lakh
Mar '26: 15.7 lakh
Jun '26: 15.1 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

+3.8%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like STEEL AUTHORITY OF INDIA 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 −6% to +25% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +9.0%, 80% range +3.7% to +13.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
UPL · Feb 2023: −54.7% vs market
JKLAKSHMI · Oct 2025: −44.9% vs market
RAJESHEXPO · May 2020: −39.0% vs market
RAIN · Jul 2021: −37.4% vs market
BIRLACORPN · Sep 2025: −31.5% vs market
KIRLOSIND · Jun 2024: −30.1% vs market
GODREJAGRO · Nov 2024: −23.7% vs market
SIS · Jun 2022: −22.6% vs market
APOLLOTYRE · Aug 2023: −13.8% vs market
ONGC · Oct 2021: −13.3% vs market
VTL · Sep 2021: −9.2% vs market
SHYAMMETL · Nov 2024: −6.1% vs market
EPL · Feb 2025: −6.1% vs market
JSL · Oct 2025: −5.5% vs market
BALRAMCHIN · Jul 2025: −5.2% vs market
JUBLPHARMA · Jan 2025: −4.9% vs market
TORNTPOWER · Jun 2024: −4.1% vs market
JKTYRE · Sep 2025: −3.5% vs market
HINDALCO · May 2021: −0.8% vs market
CEATLTD · Aug 2025: +1.4% vs market
TATACHEM · Jul 2022: +1.5% vs market
JKPAPER · Sep 2025: +1.6% vs market
DEEPAKFERT · Dec 2024: +1.9% vs market
WELSPUNLIV · May 2023: +3.1% vs market
CESC · Mar 2025: +3.7% vs market
ISGEC · Jan 2024: +3.8% vs market
UFLEX · Sep 2020: +5.6% vs market
TATASTEEL · Jun 2023: +9.6% vs market
KEC · Apr 2023: +10.4% vs market
ARVIND · Mar 2025: +10.5% vs market
GRASIM · Feb 2021: +10.9% vs market
TRIVENI · Jun 2025: +11.1% vs market
PNCINFRA · May 2023: +14.9% vs market
DCMSHRIRAM · Apr 2025: +15.1% vs market
AUROPHARMA · Oct 2023: +18.0% vs market
PARADEEP · Feb 2025: +18.5% vs market
JINDALSTEL · Jun 2023: +22.7% vs market
JSWSTEEL · Jan 2021: +26.0% vs market
GLENMARK · May 2023: +35.2% vs market
LTFOODS · Dec 2022: +38.5% vs market
ASTERDM · Dec 2022: +39.6% vs market
MOTHERSON · Oct 2023: +41.2% vs market
KPIL · May 2023: +55.0% vs market
NCC · May 2023: +67.6% vs market
FSL · Dec 2023: +73.0% vs market
NLCINDIA · Mar 2023: +99.0% vs market
JINDALSAW · Mar 2023: +99.6% vs market
TATAPOWER · May 2021: +104.4% vs market
RVNL · Dec 2022: +109.5% vs market
JSWENERGY · May 2021: +117.4% vs market
Similar setups +3.8%All companies −5.2%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
+3.8%
All companies' median
−5.2%
Beat the market
62% vs 44%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BIRLACORPN
Non-Energy Minerals		 Sep 2025 25x7% −4%−19% −32%
HINDALCO
Non-Energy Minerals		 May 2021 24x9% +184%−7% −1%
APOLLOTYRE
Consumer Durables		 Aug 2023 24x10% +54%−11% −14%
KPIL
Industrial Services		 May 2023 15x13% +49%−8% +55%
JINDALSTEL
Non-Energy Minerals		 Jun 2023 19x14% +77%−5% +23%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GRASIM
Non-Energy Minerals		 Feb 2021 18x8% +75%−6% +11%
DCMSHRIRAM
Process Industries		 Apr 2025 29x9% +4%−24% +15%
JUBLPHARMA
Health Technology		 Jan 2025 26x7% +70%−23% −5%
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, 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 STEEL AUTHORITY OF INDIA LTD. 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.

GAIL (INDIA)GAIL
Utilities
65%similar
revenuerevenue growth
NLC INDIANLCINDIA
Utilities
65%similar
ROCEmarket cap
DCM SHRIRAMDCMSHRIRAM
Process Industries
63%similar
promoter holdingvolatility
BALKRISHNA INDUSTRIESBALKRISIND
Consumer Durables
61%similar
market capvolatility
VARDHMAN TEXTILES LIMTEDVTL
Process Industries
58%similar
promoter holdingP/E
BIRLA CORPORATIONBIRLACORPN
Non-Energy Minerals
61%similar
debt/equitypromoter holding
NUVOCO VISTAS CORPORATIONNUVOCO
Non-Energy Minerals
61%similar
debt/equityvolatility
JSW CEMENTJSWCEMENT
Non-Energy Minerals
59%similar
operating margindebt/equity

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

What changed?

30 events since Jan '23

  1. SepPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  2. AugValuationP/E crossed above the 90th percentile of its own history to date (23.9x).
  3. JunPeer rankMoved into the 2nd quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
  4. MayPriceVolume reached 7.9x its 50-day median on 2026-05-13; price +14.3% that day.
  5. AprPriceRegained the 2024-05 peak, 14 months after the low.
  6. AprValuationP/E crossed above the 90th percentile of its own history to date (27.4x).
  7. DecResultsRevenue (TTM) reached a new high of ₹106,432 cr.
  8. DecValuationP/E crossed above the 90th percentile of its own history to date (23.8x).
Show 22 earlier events
  1. OctPriceVolume reached 16.2x its 50-day median on 2025-10-29; price +6.3% that day.
  2. SepResultsYear-on-year EPS growth turned positive.
  3. SepPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  4. JunResultsYear-on-year EPS growth turned negative.
  5. JunPeer rankMoved into the 2nd quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
  6. MayValuationP/E crossed above the 90th percentile of its own history to date (23.7x).
  7. MarPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  8. FebPriceFell 43% from the May 2024 peak to the Feb 2025 low.
  9. DecPeer rankMoved into the 2nd quartile of Non-Energy Minerals on operating margin (from the 3rd quartile).
  10. JunResultsYear-on-year EPS growth turned positive.
  11. JunPeer rankMoved into the 3rd quartile of Non-Energy Minerals on ROCE (from the bottom quartile).
  12. AprPriceRegained the 2021-05 peak, 22 months after the low.
  13. DecPriceVolume reached 12.2x its 50-day median on 2023-12-14; price +7.5% that day.
  14. NovValuationP/E crossed above the 90th percentile of its own history to date (17.5x).
  15. SepPriceVolume reached 5.8x its 50-day median on 2023-09-04; price +6.0% that day.
  16. JunResultsYear-on-year EPS growth turned negative.
  17. JunValuationP/E crossed above the 90th percentile of its own history to date (16.2x).
  18. JunPeer rankSlipped to the bottom quartile of Non-Energy Minerals on ROCE (from the top quartile).
  19. MarPeer rankMoved into the top quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
  20. JanPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on ROCE (from the top quartile).
  21. JanDebtDebt / equity halved over 12 months to 0.32x.
  22. JanPriceVolume reached 5.9x its 50-day median on 2023-01-02; price +7.6% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1116.4x₹1.11L cr7.1%8.0%0.5x
2026-1015.6x₹1.11L cr7.1%8.0%0.5x
2026-0917.6x₹1.11L cr7.1%8.0%0.5x
2026-0823.9x₹1.11L cr5.6%8.0%0.5x
2026-0720.7x₹1.11L cr5.6%8.0%0.5x
2026-0621.3x₹1.11L cr5.6%8.0%0.5x
2026-0530.3x₹1.09L cr4.7%7.0%0.6x
2026-0427.4x₹1.09L cr4.7%7.0%0.6x
2026-0322.4x₹1.09L cr4.7%7.0%0.6x
2026-0226.8x₹1.06L cr4.3%7.0%0.6x
2026-0124.5x₹1.06L cr4.3%7.0%0.6x
2025-1223.8x₹1.06L cr4.3%7.0%0.6x
2025-1118.4x₹1.04L cr5.2%7.0%0.6x
2025-1018.6x₹1.04L cr5.2%7.0%0.6x
2025-0918.3x₹1.04L cr5.2%7.0%0.6x
2025-0820.7x₹1.02L cr4.0%7.0%0.6x
2025-0721.6x₹1.02L cr4.0%7.0%0.6x
2025-0623.0x₹1.02L cr4.0%7.0%0.6x
2025-0523.7x₹1.01L cr3.9%8.0%0.6x
2025-0420.9x₹1.01L cr3.9%8.0%0.6x
2025-0321.2x₹1.01L cr3.9%8.0%0.6x
2025-0217.2x₹99981 cr4.4%8.0%0.6x
2025-0117.6x₹99981 cr4.4%8.0%0.6x
2024-1218.5x₹99981 cr4.4%8.0%0.6x
2024-1116.5x₹1.05L cr5.1%8.0%0.6x
2024-1016.3x₹1.05L cr5.1%8.0%0.6x
2024-0919.9x₹1.05L cr5.1%8.0%0.6x
2024-0818.0x₹1.05L cr5.4%8.0%0.6x
2024-0720.6x₹1.05L cr5.4%8.0%0.6x
2024-0620.0x₹1.05L cr5.4%8.0%0.6x
2024-0530.1x₹1.04L cr4.0%6.0%0.6x
2024-0431.2x₹1.04L cr4.0%6.0%0.6x
2024-0325.5x₹1.04L cr4.0%6.0%0.6x
2024-0223.0x₹1.04L cr4.0%6.0%0.6x
2024-0123.2x₹1.04L cr4.0%6.0%0.6x
2023-1223.5x₹1.04L cr4.0%6.0%0.6x
2023-1117.5x₹1.04L cr4.0%6.0%0.6x
2023-1015.9x₹1.04L cr4.0%6.0%0.6x
2023-0917.8x₹1.04L cr4.0%6.0%0.6x
2023-0817.2x₹1.04L cr4.0%6.0%0.6x
2023-0718.0x₹1.04L cr4.0%6.0%0.6x
2023-0616.2x₹1.04L cr4.0%6.0%0.6x
2023-052.8x₹1.03L cr22.6%24.0%0.3x
2023-042.8x₹1.03L cr22.6%24.0%0.3x
2023-032.8x₹1.03L cr22.6%24.0%0.3x
2023-022.8x₹1.03L cr22.6%24.0%0.3x
2023-013.1x₹1.03L cr22.6%24.0%0.3x
2022-122.8x₹1.03L cr22.6%24.0%0.3x
2022-112.9x₹1.03L cr22.6%24.0%0.3x
2022-102.7x₹1.03L cr22.6%24.0%0.3x
2022-092.6x₹1.03L cr22.6%24.0%0.3x
2022-082.7x₹1.03L cr22.6%24.0%0.3x
2022-072.6x₹1.03L cr22.6%24.0%0.3x
2022-062.3x₹1.03L cr22.6%24.0%0.3x
2022-057.6x₹69114 cr9.1%11.0%0.8x
2022-049.6x₹69114 cr9.1%11.0%0.8x
2022-039.8x₹69114 cr9.1%11.0%0.8x
2022-029.6x₹69114 cr9.1%11.0%0.8x
2022-019.8x₹69114 cr9.1%11.0%0.8x
2021-1210.7x₹69114 cr9.1%11.0%0.8x
2021-1110.0x₹69114 cr9.1%11.0%0.8x
2021-1011.5x₹69114 cr9.1%11.0%0.8x
2021-0911.3x₹69114 cr9.1%11.0%0.8x
2021-0812.1x₹69114 cr9.1%11.0%0.8x
2021-0714.1x₹69114 cr9.1%11.0%0.8x
2021-0613.0x₹69114 cr9.1%11.0%0.8x
2021-0524.7x₹61664 cr5.1%8.0%1.3x
2021-0423.3x₹61664 cr5.1%8.0%1.3x
2021-0315.4x₹61664 cr5.1%8.0%1.3x
2021-0214.9x₹61664 cr5.1%8.0%1.3x
2021-0111.2x₹61664 cr5.1%8.0%1.3x
2020-1214.4x₹61664 cr5.1%8.0%1.3x
2020-119.4x₹61664 cr5.1%8.0%1.3x
2020-106.7x₹61664 cr5.1%8.0%1.3x
2020-096.6x₹61664 cr5.1%8.0%1.3x
2020-087.5x₹61664 cr5.1%8.0%1.3x
2020-076.6x₹61664 cr5.1%8.0%1.3x
2020-065.9x₹61664 cr5.1%8.0%1.3x
2020-055.3x₹66973 cr5.9%9.0%1.1x
2020-045.6x₹66973 cr5.9%9.0%1.1x
2020-034.1x₹66973 cr5.9%9.0%1.1x
2020-026.2x₹66973 cr5.9%9.0%1.1x
2020-018.2x₹66973 cr5.9%9.0%1.1x
2019-127.5x₹66973 cr5.9%9.0%1.1x
2019-116.9x₹66973 cr5.9%9.0%1.1x
2019-106.4x₹66973 cr5.9%9.0%1.1x
2019-095.9x₹66973 cr5.9%9.0%1.1x
2019-085.5x₹66973 cr5.9%9.0%1.1x
2019-077.5x₹66973 cr5.9%9.0%1.1x
2019-068.9x₹66973 cr5.9%9.0%1.1x
2019-05—₹57496 cr-0.8%3.0%1.2x
2019-04—₹57496 cr-0.8%3.0%1.2x
2019-03—₹57496 cr-0.8%3.0%1.2x
2019-02—₹57496 cr-0.8%3.0%1.2x
2019-01—₹57496 cr-0.8%3.0%1.2x

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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