Share price
₹3.76 latest close · −0.3% over the last 90 sessions
₹3.76 month-end · −17.4% over 12 months
₹3.76 month-end · −14.0% over 3 years
₹3.76 month-end · +276.0% since Feb '19
52-week range ₹2.50 to ₹5.32 · 1-year volatility 45.8%
Was the rally earned?
Earnings helped, the multiple did not.
- Per-share earnings added 3 points, but investors now pay less per rupee of profit (P/E 17.5x to 13.9x), which took 21 points back.
- The share count rose 4%.
Earnings helped, the multiple did not.
- Per-share earnings added 125 points, but investors now pay less per rupee of profit (P/E 62.4x to 13.9x), which took 139 points back.
- The share count rose 324%.
Mostly yes.
- Per-share earnings added 371 points to the rise, while the multiple moved less (P/E 12.7x to 13.9x).
- The share count rose 392%.
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.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-82.2% (2024-02 peak to 2026-03 low, not yet recovered)
-79.7% (2019-06 peak to 2020-03 low, recovered 2022-01)
-44.1% (2022-02 peak to 2022-03 low, recovered 2022-09)
Is it expensive against its own past and its peers?
Usual range 4.8x to 66.3x since 2019-02.
23% below the Process Industries median.
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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.
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
- ROCE49th▼ 6 pts vs a year ago
- Op. margin18th▼ 9 pts vs a year ago
- Revenue growth69th▼ 19 pts vs a year ago
- EPS growth46th▼ 43 pts vs a year ago
- Debt/equity ↓36th▲ 25 pts vs a year ago
- Cash cycle ↓30th▲ 6 pts vs a year ago
- P/E ↓63rd▲ 4 pts vs a year ago
- 12M momentum36th▲ 29 pts vs a year ago
Rank history
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?
At a P/E of 26.4x, the price would imply about 18.5%/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 Process Industries The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹3.76
- P/E
- 13.9x
- ROCE
- 11.0%
- Market Cap
- ₹463 cr
- Revenue (TTM)
- ₹1402 cr
- P/S
- 0.3x
- P/B
- 1.0x
- ROE
- 7.3%
- Operating Margin
- 4.3%
- Debt / Equity
- 0.6x
- Promoter Holding
- 40.9%
- 12M Momentum
- -17.4%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Other income reliance15%Within range
Other income as a share of pre-tax profit (trailing twelve months): 14.7%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate25%Within range
Median quarterly effective tax rate over about 2.5 years: 25.1%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion-0.84xBeyond threshold
Operating cash flow divided by net profit over the last three fiscal years: -0.84x (cash from operations ₹-64 cr, net profit ₹76 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+11 daysWithin range
Debtor days are above the median of the previous three fiscal years by 11 days (91 vs 80). 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+25 days / 2 yrsWithin range
Days payable changed by +25 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.
Who has been buying and selling?
- Over 3 years, promoters trimmed 14.0 pts; FIIs trimmed 3.5 pts.
- The number of shareholders rose from 28,414 to 3.2 lakh (+1043%) between Sep 2023 and Jun 2026.
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.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like SARVESHWAR FOODS 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 −24% to +53% vs the market, against −1% for all non-financial companies in the same months.
- The gap against the base rate (+6.0%, 80% range −7.8% to +18.9%) 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 · 3 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 34 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SALZERELEC Producer Manufacturing |
Dec 2021 | 15x | 10% | +48% | −15% | +25% |
| TBZ Retail Trade |
Sep 2020 | 11x | 8% | −12% | −28% | +31% |
| TCPLPACK Commercial Services |
Dec 2021 | 14x | — | +32% | −12% | +186% |
| BLKASHYAP Industrial Services |
Aug 2022 | 13x | 10% | −3% | −21% | +90% |
| GOKUL Process Industries |
Apr 2021 | 12x | 10% | +71% | −17% | +83% |
Show the other 3 matches
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: interest cover, ROCE 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.
What changed?
30 events since Feb '21
- SepPeer rankSlipped to the 3rd quartile of Process Industries on EPS growth (from the 2nd quartile).
- JunPeer rankSlipped to the 3rd quartile of Process Industries on ROCE (from the 2nd quartile).
- JunDebtDebt / equity fell below 1.0x (0.60x).
- JunSharesShare count is up 25.5% over 12 months.
- MarPriceFell 82% from the Feb 2024 peak to the Mar 2026 low.
- DecPromoterPromoter holding fell 10.5 pts to 41.0%.
- SepPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
- JunPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
Show 22 earlier events
- MarPromoterPromoter holding fell 2.5 pts to 52.3%.
- JulSharesShare count is up 200.0% over 12 months.
- JunResultsRevenue (TTM) reached a new high of ₹870 cr.
- JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the 3rd quartile).
- JanPriceRegained the 2023-09 peak, 3 months after the low.
- OctPriceFell 25% from the Sep 2023 peak to the Oct 2023 low.
- AugValuationP/E crossed above the 90th percentile of its own history to date (59.7x).
- JulPriceRegained the 2022-12 peak, 4 months after the low.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the 3rd quartile of Process Industries on ROCE (from the bottom quartile).
- JunSharesShare count is up 16.0% over 12 months.
- MarPriceFell 28% from the Dec 2022 peak to the Mar 2023 low.
- DecPriceRegained the 2022-09 peak, 1 month after the low.
- NovPriceFell 29% from the Sep 2022 peak to the Nov 2022 low.
- SepPriceRegained the 2022-02 peak, 6 months after the low.
- JunResultsRevenue (TTM) reached a new high of ₹605 cr.
- JunPeer rankSlipped to the bottom quartile of Process Industries on EPS growth (from the 3rd quartile).
- MarPriceFell 44% from the Feb 2022 peak to the Mar 2022 low.
- JanPriceRegained the 2019-06 peak, 22 months after the low.
- SepValuationP/E crossed above the 90th percentile of its own history to date (12.7x).
- JunPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 3rd quartile).
- FebValuationP/E crossed above the 90th percentile of its own history to date (7.8x).
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 history94 months · 2019-02 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-11 | 13.9x | ₹1402 cr | 7.3% | 11.0% | 0.6x |
| 2026-10 | 12.9x | ₹1402 cr | 7.3% | 11.0% | 0.6x |
| 2026-09 | 12.9x | ₹1402 cr | 7.3% | 11.0% | 0.6x |
| 2026-08 | 12.9x | ₹1346 cr | 7.0% | 11.0% | 0.6x |
| 2026-07 | 13.0x | ₹1346 cr | 7.0% | 11.0% | 0.6x |
| 2026-06 | 14.1x | ₹1346 cr | 7.0% | 11.0% | 0.6x |
| 2026-05 | 14.1x | ₹1313 cr | 11.7% | 12.0% | 1.2x |
| 2026-04 | 14.8x | ₹1313 cr | 11.7% | 12.0% | 1.2x |
| 2026-03 | 9.3x | ₹1313 cr | 11.7% | 12.0% | 1.2x |
| 2026-02 | 14.7x | ₹1268 cr | 11.0% | 12.0% | 1.2x |
| 2026-01 | 15.5x | ₹1268 cr | 11.0% | 12.0% | 1.2x |
| 2025-12 | 17.3x | ₹1268 cr | 11.0% | 12.0% | 1.2x |
| 2025-11 | 17.5x | ₹1205 cr | 10.9% | 12.0% | 1.2x |
| 2025-10 | 19.6x | ₹1205 cr | 10.9% | 12.0% | 1.2x |
| 2025-09 | 22.9x | ₹1205 cr | 10.9% | 12.0% | 1.2x |
| 2025-08 | 32.1x | ₹1136 cr | 9.5% | 12.0% | 1.2x |
| 2025-07 | 33.3x | ₹1136 cr | 9.5% | 12.0% | 1.2x |
| 2025-06 | 29.8x | ₹1136 cr | 9.5% | 12.0% | 1.2x |
| 2025-05 | 35.6x | ₹1034 cr | 9.7% | 12.0% | 1.4x |
| 2025-04 | 33.0x | ₹1034 cr | 9.7% | 12.0% | 1.4x |
| 2025-03 | 31.7x | ₹1034 cr | 9.7% | 12.0% | 1.4x |
| 2025-02 | 35.6x | ₹981 cr | 8.8% | 12.0% | 1.4x |
| 2025-01 | 45.0x | ₹981 cr | 8.8% | 12.0% | 1.4x |
| 2024-12 | 49.0x | ₹981 cr | 8.8% | 12.0% | 1.4x |
| 2024-11 | 66.4x | ₹915 cr | 7.4% | 12.0% | 1.4x |
| 2024-10 | 64.8x | ₹915 cr | 7.4% | 12.0% | 1.4x |
| 2024-09 | 66.2x | ₹915 cr | 7.4% | 12.0% | 1.4x |
| 2024-08 | 59.0x | ₹870 cr | 7.3% | 12.0% | 1.4x |
| 2024-07 | 62.5x | ₹870 cr | 7.3% | 12.0% | 1.4x |
| 2024-06 | 58.0x | ₹870 cr | 7.3% | 12.0% | 1.4x |
| 2024-05 | 120.0x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2024-04 | 122.7x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2024-03 | 128.1x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2024-02 | 181.7x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2024-01 | 98.3x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-12 | 73.9x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-11 | 62.4x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-10 | 62.4x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-09 | 74.6x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-08 | 59.7x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-07 | 46.1x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-06 | 31.9x | ₹689 cr | 1.1% | 8.0% | 1.6x |
| 2023-05 | 57.0x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2023-04 | 59.3x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2023-03 | 52.3x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2023-02 | 66.5x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2023-01 | 65.3x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-12 | 68.8x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-11 | 47.5x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-10 | 42.8x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-09 | 54.5x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-08 | 36.8x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-07 | 44.0x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-06 | 39.3x | ₹605 cr | 0.7% | 7.0% | 2.0x |
| 2022-05 | 23.7x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2022-04 | 24.5x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2022-03 | 23.0x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2022-02 | 26.2x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2022-01 | 22.2x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-12 | 21.3x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-11 | 12.7x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-10 | 12.7x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-09 | 12.7x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-08 | 11.0x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-07 | 11.0x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-06 | 13.5x | ₹514 cr | 1.1% | 5.0% | 2.1x |
| 2021-05 | 15.8x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2021-04 | 19.0x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2021-03 | 11.8x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2021-02 | 7.8x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2021-01 | 7.2x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-12 | 6.3x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-11 | 6.3x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-10 | 6.3x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-09 | 5.5x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-08 | 7.2x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-07 | 6.3x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-06 | 6.3x | ₹488 cr | 1.1% | 7.0% | 1.8x |
| 2020-05 | 1.9x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2020-04 | 2.1x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2020-03 | 1.6x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2020-02 | 1.9x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2020-01 | 2.6x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-12 | 2.9x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-11 | 3.3x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-10 | 4.3x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-09 | 5.7x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-08 | 3.8x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-07 | 4.5x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-06 | 6.2x | ₹566 cr | 13.6% | 11.0% | 1.9x |
| 2019-05 | 7.4x | ₹481 cr | 14.8% | 14.0% | 1.8x |
| 2019-04 | 6.3x | ₹481 cr | 14.8% | 14.0% | 1.8x |
| 2019-03 | 6.3x | ₹481 cr | 14.8% | 14.0% | 1.8x |
| 2019-02 | 5.6x | ₹481 cr | 14.8% | 14.0% | 1.8x |