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SCODA TUBES LIMITED (SCODATUBES)

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.57 / 100
Profitability 71Balance sheet 44
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.12 / 100
Price 6Earnings 25FII/DII 7

Passes these screensDebt-light & profitable

Compare withJSW STEELTATA STEELJINDAL STEEL

Share price

Closing priceAdjusted for splits and bonus issues.

₹104.61 latest close · −30.4% over the last 90 sessions

₹100₹120₹140Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹100₹120₹140Jul 3Sep 4Nov 9

₹104.61 month-end · −38.2% over 12 months

₹100₹120₹140₹160Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹100₹120₹140₹160Nov '25May '26Nov '26

₹104.61 month-end · −47.6% since Jun '25

₹100₹150₹200Jun '25Sep '25Jan '26Apr '26Aug '26Nov '26 ₹100₹150₹200Jun '25Mar '26Nov '26

52-week range ₹102.89 to ₹181.48 · 1-year volatility 47.3%

Was the rally earned?

-38%share price, 1 yearMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 23.6x to 17.0x); per-share earnings took off 12 points.
  • The share count rose 26%.
Net profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6 ptsNet profit growthP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26 ptsP/E changeShare count change: −18 pts. Points of the price return explained by the share count changing. More shares count against the price.−18 ptsShare count changeShare price: −38%−38%Share priceNet profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6ProfitP/E change: −26 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−26P/EShare count change: −18 pts. Points of the price return explained by the share count changing. More shares count against the price.−18SharesShare price: −38%−38%Share price
Net profit growth+6 ptsNet profit rose about 8%, which lifts the price.
P/E change-26 ptsThe P/E fell from 23.6x to 17.0x, which lowers the price.
Share count change-18 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.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

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-50.8%not yet recovered
1-year volatility47.3%annualised
Volume spikes1last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2026−50.8% 0%−20%−40%2026−50.8%
Largest drawdowns

-50.8% (2025-07 peak to 2026-11 low, not yet recovered)

Most recent volume spikes

2026-09-23: 18.1x the 50-day median, price +6.9% that day

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

  • ROCE78th▼ 3 pts vs a year ago
  • Op. margin63rdflat vs a year ago
  • Revenue growth58th
  • EPS growth28th
  • Debt/equity ↓38th▲ 27 pts vs a year ago
  • Cash cycle ↓19thflat vs a year ago
  • P/E ↓64th▲ 8 pts vs a year ago
  • 12M momentum10th

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?

~21%annual earnings growth implied by the price

At a P/E of 31.1x, the price would imply about 20.5%/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
₹104.61
P/E
17.0x
ROCE
17.0%
Market Cap
₹626 cr
Revenue (TTM)
₹546 cr
P/S
1.1x
P/B
1.6x
ROE
9.5%
Operating Margin
12.8%
Debt / Equity
0.5x
Promoter Holding
66.4%
12M Momentum
-38.2%

52-week range

₹102.89₹181.48
2% of the way from its 52-week low to its high

Price risk

1Y volatility
47.3%
Beta vs sector
1-year daily
1.09

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.9x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.18x
low
Share count, 1Y
+36.4%

Are profits backed by cash?

2 of 5checks within range2 beyond a threshold
Other income reliance21%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 20.7%. 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 conversion0.18xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.18x (cash from operations ₹16 cr, net profit ₹89 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress5% of fixed assetsWithin range

Capital work-in-progress is 5% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

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?

  • Since Jun 2025, DIIs trimmed 4.3 pts.
  • The number of shareholders fell from 27,480 to 25,953 (-6%) between Jun 2025 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupJun '25Jun '26Change
Promoters66.4%66.4%0.0 pts
FIIs8.1%8.4%+0.3 pts
DIIs7.9%3.6%-4.3 pts
Public and others17.6%21.6%+4.0 pts

Number of shareholders

25,953shareholders-6% since Jun '25
25k26k27k27k Jun '25Sep '25Dec '25Mar '26Jun '26
Jun '25: 27,480
Sep '25: 27,270
Dec '25: 25,941
Mar '26: 25,111
Jun '26: 25,953
 25k26k27k27k Jun '25Dec '25Jun '26
Jun '25: 27,480
Sep '25: 27,270
Dec '25: 25,941
Mar '26: 25,111
Jun '26: 25,953

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

−5.3%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like SCODA 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 −21% to +37% vs the market, against 0% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −5.0%, 80% range −11.7% to −0.8%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
PAKKA · Mar 2025: −50.4% vs market
ASIANTILES · Mar 2022: −50.2% vs market
CONFIPET · Sep 2024: −43.4% vs market
BBTCL · Sep 2023: −38.8% vs market
KOPRAN · Mar 2025: −36.6% vs market
HARIOMPIPE · Aug 2025: −33.6% vs market
IRMENERGY · Mar 2025: −33.5% vs market
AVG · Jun 2025: −31.5% vs market
ZEELEARN · Jul 2020: −27.2% vs market
SCPL · Jul 2024: −26.4% vs market
CAPACITE · Oct 2020: −24.0% vs market
INDIANHUME · Nov 2020: −23.9% vs market
RANEHOLDIN · Feb 2020: −21.3% vs market
PARAGMILK · Aug 2020: −20.6% vs market
AARTIDRUGS · Dec 2023: −19.9% vs market
ZIMLAB · May 2024: −16.3% vs market
ASTRON · Mar 2021: −15.5% vs market
REMSONSIND · Apr 2025: −15.3% vs market
KHAICHEM · Aug 2023: −15.1% vs market
BLKASHYAP · Feb 2025: −11.5% vs market
TIIL · Jan 2020: −11.2% vs market
SIYSIL · Apr 2020: −8.9% vs market
AWHCL · Feb 2022: −7.2% vs market
LIBERTSHOE · Mar 2021: −6.8% vs market
WELENT · Aug 2020: −6.3% vs market
TPLPLASTEH · Jul 2025: −4.3% vs market
RICOAUTO · Feb 2020: −3.7% vs market
NILAINFRA · May 2020: −3.6% vs market
INDOAMIN · Aug 2023: −1.6% vs market
GRPLTD · Oct 2025: +1.7% vs market
APEX · Sep 2021: +2.0% vs market
WABAG · Aug 2020: +10.3% vs market
FAZE3Q · Oct 2024: +15.5% vs market
JKIL · Jun 2020: +20.9% vs market
NRBBEARING · Mar 2022: +22.4% vs market
POKARNA · Jul 2023: +24.1% vs market
GNA · Sep 2022: +27.3% vs market
MANGLMCEM · Aug 2020: +39.7% vs market
XPROINDIA · Feb 2023: +44.1% vs market
SHAKTIPUMP · Sep 2022: +44.7% vs market
RAJRATAN · Sep 2025: +45.5% vs market
ALICON · May 2020: +48.3% vs market
SPAL · Sep 2020: +54.9% vs market
ORIENTCEM · Sep 2020: +58.6% vs market
SHIVATEX · Oct 2020: +74.8% vs market
NCLIND · Jun 2020: +82.5% vs market
ICIL · Aug 2025: +88.7% vs market
ADOR · Dec 2020: +94.0% vs market
APOLSINHOT · Jun 2022: +100.5% vs market
KIRLOSBROS · Oct 2020: +140.6% vs market
Similar setups −5.3%All companies −0.3%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
−5.3%
All companies' median
−0.3%
Beat the market
42% vs 50%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ZEELEARN
Consumer Services		 Jul 2020 10x14% −34%−48% −27%
FAZE3Q
Process Industries		 Oct 2024 24x16% −11%−27% +16%
APEX
Consumer Non-Durables		 Sep 2021 21x13% +19%−28% +2%
INDIANHUME
Producer Manufacturing		 Nov 2020 12x16% −19%−33% −24%
RAJRATAN
Producer Manufacturing		 Sep 2025 28x14% −44%−45% +46%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
REMSONSIND
Producer Manufacturing		 Apr 2025 28x15% −40%−48% −15%
SIYSIL
Process Industries		 Apr 2020 6x17% −62%−67% −9%
POKARNA
Producer Manufacturing		 Jul 2023 19x15% −26%−37% +24%
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: 12-month momentum, drawdown from 12-month high 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 SCODA 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.

PROSTARM INFO SYSTEMSPROSTARM
Electronic Technology
68%similar
ROCErevenue
KANPUR PLASTIPACKKANPRPLA
Producer Manufacturing
67%similar
ROCEmarket cap
UNIVASTU INDIAUNIVASTU
Industrial Services
66%similar
P/Epromoter holding
OSEL DEVICESOSELDEVICE
Electronic Technology
65%similar
debt/equitymarket cap
PATEL RETAILPATELRMART
Retail Trade
65%similar
volatilitydebt/equity
HARIOM PIPE INDUSTRIESHARIOMPIPE
Non-Energy Minerals
58%similar
P/Eoperating margin
MMP INDUSTRIESMMP
Non-Energy Minerals
58%similar
debt/equityvolatility
MANGALAM WORLDWIDEMWL
Non-Energy Minerals
46%similar
promoter holdingROCE

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

What changed?

12 events since Jul '25

  1. NovPriceFell 51% from the Jul 2025 peak to the Nov 2026 low.
  2. SepResultsRevenue (TTM) reached a new high of ₹546 cr.
  3. SepInstitutionsFII + DII holding fell 3.5 pts over 1 quarter to 12.0%.
  4. SepPriceVolume reached 18.1x its 50-day median on 2026-09-23; price +6.9% that day.
  5. JulDebtDebt / equity halved over 12 months to 0.48x.
  6. JunPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
  7. JunDebtDebt / equity fell below 1.0x (0.48x).
  8. JunSharesShare count is up 36.4% over 12 months.
Show 4 earlier events
  1. MayPriceVolume reached 14.3x its 50-day median on 2026-05-08; price +4.7% that day.
  2. MarPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
  3. NovPriceVolume reached 6.8x its 50-day median on 2025-11-13; price +2.7% that day.
  4. JulPriceVolume reached 6.7x its 50-day median on 2025-07-14; price -0.5% 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 history18 months · 2025-06 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1117.0x₹546 cr9.5%17.0%0.5x
2026-1017.0x₹546 cr9.5%17.0%0.5x
2026-0920.2x₹546 cr9.5%17.0%0.5x
2026-0819.8x₹519 cr10.0%17.0%0.5x
2026-0722.6x₹519 cr10.0%17.0%0.5x
2026-0622.1x₹519 cr10.0%17.0%0.5x
2026-0517.5x₹519 cr26.2%20.0%1.4x
2026-0421.2x₹519 cr26.2%20.0%1.4x
2026-0317.6x₹519 cr26.2%20.0%1.4x
2026-0218.8x₹496 cr25.1%20.0%1.4x
2026-0117.9x₹496 cr25.1%20.0%1.4x
2025-1222.3x₹496 cr25.1%20.0%1.4x
2025-1123.6x₹490 cr22.7%20.0%1.4x
2025-1022.3x₹490 cr22.7%20.0%1.4x
2025-0924.6x₹490 cr22.7%20.0%1.4x
2025-0823.6x₹485 cr21.2%20.0%1.4x
2025-0727.1x₹485 cr21.2%20.0%1.4x
2025-0627.8x₹485 cr21.2%20.0%1.4x

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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