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SEMAC CONSTRUCTION LIMITED (SEMAC)

Industrial Services

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.31 / 100
Profitability 19Growth 13Balance sheet 61
Compare withLARSEN AND TOUBRO LIMITEDJSW INFRASTRUCTURE LIMITEDRAIL VIKAS NIGAM LIMITED
Share Price
₹224.87
P/E
10.6x
ROCE
10.0%
Market Cap
₹70 cr
Revenue (TTM)
₹222 cr
P/S
0.3x
P/B
0.9x
ROE
8.1%
Operating Margin
2.3%
Debt / Equity
0.3x
Promoter Holding
62.9%
12M Momentum
-44.4%
P/E vs its own history25th percentilesince Jan '19
P/E vs Industrial Services0.8xthe sector median

52-week range

₹203.00₹484.40
8% of the way from its 52-week low to its high

Price risk

1Y volatility
58.2%
Beta vs sector
1-year daily
0.40

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.52x
Share count, 1Y
unchanged

Was the rally earned?

-90%share price, 3 yearsEarnings and multiple

Both mattered.

  • Per-share earnings took off 40 points and the multiple took off 49 points (P/E 36.8x to 10.6x).
  • The share count fell 3%.
3 years Net profit growth: -42 pts. Points of the price return explained by net profit growing (or shrinking).-42 ptsP/E change: -49 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-49 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -90% 3 years Net profit growth: -42 pts. Points of the price return explained by net profit growing (or shrinking).-42 ptsP/E change: -49 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-49 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -90%
Net profit growth-42 ptsNet profit fell about 65%, which lowers the price.
P/E change-49 ptsThe P/E fell from 36.8x to 10.6x, which lowers the price.
Share count change+1 ptsShare count fell 3%, which lifts the price.
-63%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 15 points, but investors now pay less per rupee of profit (P/E 35.9x to 10.6x), which took 78 points back.
  • The share count barely moved.
5 years Net profit growth: +15 pts. Points of the price return explained by net profit growing (or shrinking).+15 ptsP/E change: -78 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-78 pts -63% 5 years Net profit growth: +15 pts. Points of the price return explained by net profit growing (or shrinking).P/E change: -78 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-78 pts -63%
Net profit growth+15 ptsNet profit rose about 26%, which lifts the price.
P/E change-78 ptsThe P/E fell from 35.9x to 10.6x, which lowers 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.

Not shown for 1 year: 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 LARSEN AND TOUBRO

Is it expensive against its own past and its peers?

10.6xP/E todayWithin its usual range
Against its own history25th percentileMedian 27.9x; usual range 8.8x to 146.6x since 2019-01.
Against Industrial Services10.6x vs 13.5xBelow the Industrial Services median.
7.7x84.5x161.4x238.3xJan '19Aug '20Mar '22Oct '23May '25Oct '267.7x84.5x161.4x238.3xJan '19Aug '21Mar '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

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P/B (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median

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P/S (this company)10th to 90th percentile of its own historyIts medianIndustrial Services median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Industrial Services is valued

What is the price implying?

~8%annual earnings growth implied by the price

At a P/E of 10.6x, the price would imply about 8.1%/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 Industrial Services The market-wide Expectations lists

What changed?

  1. Oct '26Fell 94% from the May 2024 peak to the Oct 2026 low.
  2. Jun '26Moved into the 3rd quartile of Industrial Services on ROCE (from the bottom quartile).
  3. Dec '25EPS (TTM) turned positive.
  4. Sep '24Promoter holding fell 8.8 pts to 63.9%.
  5. Jun '24EPS (TTM) turned negative.
  6. Jun '24Slipped to the bottom quartile of Industrial Services on ROCE (from the top quartile).
  7. Jun '24Dividend payout cut from 8% to 0% of profit.
  8. Jun '23Year-on-year EPS growth turned positive.
Show 19 earlier events
  1. Jun '23Moved into the top quartile of Industrial Services on ROCE (from the bottom quartile).
  2. Jun '23Started paying a dividend (payout 8% of profit).
  3. Sep '22Regained the 2022-01 peak, 4 months after the low.
  4. Jun '22Slipped to the bottom quartile of Industrial Services on ROCE (from the 3rd quartile).
  5. May '22Fell 35% from the Jan 2022 peak to the May 2022 low.
  6. May '22P/E crossed above the 90th percentile of its own history to date (42.0x).
  7. Jan '22Regained the 2021-06 peak, 5 months after the low.
  8. Aug '21Fell 34% from the Jun 2021 peak to the Aug 2021 low.
  9. Jun '21Year-on-year EPS growth turned negative.
  10. Jun '21Regained the 2021-01 peak, 3 months after the low.
  11. Jun '21P/E crossed above the 90th percentile of its own history to date (40.2x).
  12. Jun '21Slipped to the 3rd quartile of Industrial Services on EPS growth (from the top quartile).
  13. Mar '21Fell 28% from the Jan 2021 peak to the Mar 2021 low.
  14. Aug '20Regained the 2020-02 peak, 5 months after the low.
  15. Mar '20Fell 51% from the Feb 2020 peak to the Mar 2020 low.
  16. Feb '20Regained the 2019-05 peak, 6 months after the low.
  17. Aug '19Fell 37% from the May 2019 peak to the Aug 2019 low.
  18. Jun '19EPS (TTM) turned positive.
  19. Jun '19Moved into the 3rd quartile of Industrial Services on ROCE (from the bottom quartile).

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

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

Are profits backed by cash?

2 of 5 checks are within range, 2 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance80%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 80.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate12%Near threshold

Median quarterly effective tax rate over about 2.5 years: 12.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion—Not enough data

Not enough reported data to compute this.

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-43 daysWithin range

Debtor days are below the median of the previous three fiscal years by 43 days (55 vs 98). 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—Not enough data

Not enough reported data to compute this.

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, promoters trimmed 9.8 pts.
  • The number of shareholders rose from 4,559 to 5,454 (+20%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters72.6%62.9%-9.8 pts
FIIs0.0%0.0%0.0 pts
DIIs———
Public and others27.3%37.1%+9.8 pts

Number of shareholders

5,454shareholders+20% since Dec '23
5k5k6k6k Dec '23Sep '24Mar '25Dec '25Jun '26
Dec '23: 4,559
Jun '24: 6,334
Sep '24: 6,338
Dec '24: 6,253
Mar '25: 6,149
Jun '25: 5,929
Dec '25: 5,497
Jun '26: 5,454
 5k5k6k6k Dec '23Dec '24Dec '25Jun '26
Dec '23: 4,559
Jun '24: 6,334
Sep '24: 6,338
Dec '24: 6,253
Mar '25: 6,149
Jun '25: 5,929
Dec '25: 5,497
Jun '26: 5,454

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

How rough has the ride been?

Maximum drawdown-94.0%not yet recovered
1-year volatility58.2%annualised

Monthly share price

₹222₹1,275₹2,328₹3,381 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹401.00
2019-02: ₹373.90
2019-03: ₹410.05
2019-04: ₹395.90
2019-05: ₹493.95
2019-06: ₹425.00
2019-07: ₹344.10
2019-08: ₹330.00
2019-09: ₹381.35
2019-10: ₹384.65
2019-11: ₹385.50
2019-12: ₹370.20
2020-01: ₹458.55
2020-02: ₹454.25
2020-03: ₹285.50
2020-04: ₹317.80
2020-05: ₹304.60
2020-06: ₹388.95
2020-07: ₹386.25
2020-08: ₹441.05
2020-09: ₹426.25
2020-10: ₹427.05
2020-11: ₹424.75
2020-12: ₹470.45
2021-01: ₹576.80
2021-02: ₹536.10
2021-03: ₹471.05
2021-04: ₹559.50
2021-05: ₹568.35
2021-06: ₹677.10
2021-07: ₹676.70
2021-08: ₹579.35
2021-09: ₹591.60
2021-10: ₹604.30
2021-11: ₹680.60
2021-12: ₹693.90
2022-01: ₹765.95
2022-02: ₹723.45
2022-03: ₹668.40
2022-04: ₹668.00
2022-05: ₹707.05
2022-06: ₹663.35
2022-07: ₹712.70
2022-08: ₹762.55
2022-09: ₹904.10
2022-10: ₹902.90
2022-11: ₹1066.85
2022-12: ₹1092.80
2023-01: ₹1076.50
2023-02: ₹1146.60
2023-03: ₹1283.10
2023-04: ₹1403.50
2023-05: ₹1705.95
2023-06: ₹1624.75
2023-07: ₹1551.35
2023-08: ₹1602.40
2023-09: ₹2180.40
2023-10: ₹2176.85
2023-11: ₹2205.00
2023-12: ₹2345.00
2024-01: ₹2656.60
2024-02: ₹2849.10
2024-03: ₹3002.20
2024-04: ₹3381.35
2024-05: ₹712.35
2024-06: ₹626.70
2024-07: ₹578.80
2024-08: ₹524.75
2024-09: ₹403.15
2024-10: ₹403.25
2024-11: ₹389.75
2024-12: ₹401.10
2025-01: ₹279.00
2025-02: ₹382.40
2025-03: ₹288.10
2025-04: ₹356.95
2025-05: ₹365.60
2025-06: ₹491.70
2025-07: ₹536.85
2025-08: ₹524.75
2025-09: ₹488.00
2025-10: ₹404.15
2025-11: ₹333.25
2025-12: ₹310.85
2026-01: ₹235.10
2026-02: ₹241.65
2026-03: ₹222.30
2026-04: ₹284.32
2026-05: ₹303.95
2026-06: ₹337.85
2026-07: ₹311.40
2026-08: ₹281.95
2026-09: ₹232.85
2026-10: ₹224.87
 ₹222₹1,275₹2,328₹3,381 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹401.00
2019-02: ₹373.90
2019-03: ₹410.05
2019-04: ₹395.90
2019-05: ₹493.95
2019-06: ₹425.00
2019-07: ₹344.10
2019-08: ₹330.00
2019-09: ₹381.35
2019-10: ₹384.65
2019-11: ₹385.50
2019-12: ₹370.20
2020-01: ₹458.55
2020-02: ₹454.25
2020-03: ₹285.50
2020-04: ₹317.80
2020-05: ₹304.60
2020-06: ₹388.95
2020-07: ₹386.25
2020-08: ₹441.05
2020-09: ₹426.25
2020-10: ₹427.05
2020-11: ₹424.75
2020-12: ₹470.45
2021-01: ₹576.80
2021-02: ₹536.10
2021-03: ₹471.05
2021-04: ₹559.50
2021-05: ₹568.35
2021-06: ₹677.10
2021-07: ₹676.70
2021-08: ₹579.35
2021-09: ₹591.60
2021-10: ₹604.30
2021-11: ₹680.60
2021-12: ₹693.90
2022-01: ₹765.95
2022-02: ₹723.45
2022-03: ₹668.40
2022-04: ₹668.00
2022-05: ₹707.05
2022-06: ₹663.35
2022-07: ₹712.70
2022-08: ₹762.55
2022-09: ₹904.10
2022-10: ₹902.90
2022-11: ₹1066.85
2022-12: ₹1092.80
2023-01: ₹1076.50
2023-02: ₹1146.60
2023-03: ₹1283.10
2023-04: ₹1403.50
2023-05: ₹1705.95
2023-06: ₹1624.75
2023-07: ₹1551.35
2023-08: ₹1602.40
2023-09: ₹2180.40
2023-10: ₹2176.85
2023-11: ₹2205.00
2023-12: ₹2345.00
2024-01: ₹2656.60
2024-02: ₹2849.10
2024-03: ₹3002.20
2024-04: ₹3381.35
2024-05: ₹712.35
2024-06: ₹626.70
2024-07: ₹578.80
2024-08: ₹524.75
2024-09: ₹403.15
2024-10: ₹403.25
2024-11: ₹389.75
2024-12: ₹401.10
2025-01: ₹279.00
2025-02: ₹382.40
2025-03: ₹288.10
2025-04: ₹356.95
2025-05: ₹365.60
2025-06: ₹491.70
2025-07: ₹536.85
2025-08: ₹524.75
2025-09: ₹488.00
2025-10: ₹404.15
2025-11: ₹333.25
2025-12: ₹310.85
2026-01: ₹235.10
2026-02: ₹241.65
2026-03: ₹222.30
2026-04: ₹284.32
2026-05: ₹303.95
2026-06: ₹337.85
2026-07: ₹311.40
2026-08: ₹281.95
2026-09: ₹232.85
2026-10: ₹224.87

Last 90 trading days

₹206₹255₹304₹353 Jun 19Jul 16Aug 12Sep 8Oct 6Oct 30
2026-06-19: ₹318.50
2026-06-23: ₹335.55
2026-06-25: ₹353.00
2026-06-30: ₹337.85
2026-07-02: ₹337.20
2026-07-06: ₹347.70
2026-07-08: ₹325.00
2026-07-10: ₹317.65
2026-07-14: ₹332.30
2026-07-16: ₹323.65
2026-07-20: ₹305.25
2026-07-22: ₹311.00
2026-07-27: ₹319.95
2026-07-29: ₹323.45
2026-07-31: ₹311.40
2026-08-04: ₹311.70
2026-08-06: ₹309.05
2026-08-10: ₹306.00
2026-08-12: ₹301.20
2026-08-14: ₹326.00
2026-08-18: ₹299.35
2026-08-20: ₹284.70
2026-08-24: ₹293.40
2026-08-26: ₹285.15
2026-08-28: ₹288.00
2026-09-01: ₹292.00
2026-09-04: ₹277.25
2026-09-08: ₹285.95
2026-09-10: ₹279.85
2026-09-15: ₹269.00
2026-09-17: ₹270.00
2026-09-21: ₹284.20
2026-09-23: ₹265.65
2026-09-25: ₹255.00
2026-09-29: ₹243.95
2026-10-01: ₹241.99
2026-10-06: ₹235.55
2026-10-08: ₹217.81
2026-10-12: ₹214.41
2026-10-14: ₹214.43
2026-10-16: ₹215.38
2026-10-21: ₹205.85
2026-10-23: ₹209.36
2026-10-27: ₹230.63
2026-10-29: ₹225.68
2026-10-30: ₹224.87
 ₹206₹255₹304₹353 Jun 19Aug 4Sep 17Oct 30
2026-06-19: ₹318.50
2026-06-23: ₹335.55
2026-06-25: ₹353.00
2026-06-30: ₹337.85
2026-07-02: ₹337.20
2026-07-06: ₹347.70
2026-07-08: ₹325.00
2026-07-10: ₹317.65
2026-07-14: ₹332.30
2026-07-16: ₹323.65
2026-07-20: ₹305.25
2026-07-22: ₹311.00
2026-07-27: ₹319.95
2026-07-29: ₹323.45
2026-07-31: ₹311.40
2026-08-04: ₹311.70
2026-08-06: ₹309.05
2026-08-10: ₹306.00
2026-08-12: ₹301.20
2026-08-14: ₹326.00
2026-08-18: ₹299.35
2026-08-20: ₹284.70
2026-08-24: ₹293.40
2026-08-26: ₹285.15
2026-08-28: ₹288.00
2026-09-01: ₹292.00
2026-09-04: ₹277.25
2026-09-08: ₹285.95
2026-09-10: ₹279.85
2026-09-15: ₹269.00
2026-09-17: ₹270.00
2026-09-21: ₹284.20
2026-09-23: ₹265.65
2026-09-25: ₹255.00
2026-09-29: ₹243.95
2026-10-01: ₹241.99
2026-10-06: ₹235.55
2026-10-08: ₹217.81
2026-10-12: ₹214.41
2026-10-14: ₹214.43
2026-10-16: ₹215.38
2026-10-21: ₹205.85
2026-10-23: ₹209.36
2026-10-27: ₹230.63
2026-10-29: ₹225.68
2026-10-30: ₹224.87

Drawdown from peak

0% -47% -94% Jan '19Dec '22Oct '26 0% -47% -94% Jan '19Dec '22Oct '26
Largest drawdowns

-94.0% (2024-05 peak to 2026-10 low, not yet recovered)

-51.0% (2020-02 peak to 2020-03 low, recovered 2020-08)

-37.4% (2019-05 peak to 2019-08 low, recovered 2020-02)

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial Services 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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 Industrial Services sector page Watch it move against Industrial Services in the Observatory

What happened next to similar setups

+2.6%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 SEMAC CONSTRUCTION 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 −18% to +28% vs the market, against −3% for all non-financial companies in the same months.
  • The gap against the base rate (+5.4%, 80% range −4.6% to +16.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DUCON · Oct 2025: −60.4% vs market
AHLADA · Feb 2024: −43.1% vs market
BHARATGEAR · Sep 2023: −40.5% vs market
BVCL · Apr 2024: −33.7% vs market
RGL · Jul 2023: −33.3% vs market
AKG · May 2024: −31.8% vs market
UCAL · Jul 2021: −30.1% vs market
AMDIND · Jun 2024: −30.0% vs market
ZENITHSTL · Feb 2025: −25.5% vs market
SUPERHOUSE · Jul 2023: −23.2% vs market
MAHESHWARI · Jul 2023: −20.8% vs market
ASTRON · Feb 2023: −17.5% vs market
AROGRANITE · May 2022: −17.5% vs market
PIONEEREMB · Jun 2022: −17.4% vs market
KMSUGAR · Dec 2023: −16.6% vs market
GLOBE · Jun 2024: −15.0% vs market
ISFT · Jun 2024: −12.5% vs market
BEARDSELL · Aug 2024: −11.9% vs market
RPPL · Jul 2023: −8.1% vs market
RILINFRA · Sep 2025: −6.2% vs market
RPPINFRA · Apr 2022: −6.1% vs market
PATINTLOG · Sep 2021: −5.1% vs market
UMA · Jun 2024: −4.3% vs market
VETO · Dec 2023: −3.9% vs market
MHHL · Jun 2024: −3.8% vs market
KALYANIFRG · Feb 2020: +9.0% vs market
CELEBRITY · Feb 2020: +9.1% vs market
MANAKALUCO · Dec 2023: +9.8% vs market
CORDSCABLE · Sep 2021: +10.4% vs market
INCREDIBLE · Oct 2024: +10.6% vs market
MWL · Nov 2023: +15.4% vs market
PENIND · Dec 2020: +16.1% vs market
TEXMOPIPES · Mar 2023: +17.0% vs market
KCPSUGIND · Nov 2021: +20.1% vs market
IVP · Oct 2025: +22.7% vs market
ARIES · Jul 2022: +23.1% vs market
HPL · May 2020: +23.4% vs market
BIL · Mar 2020: +29.3% vs market
SHIVAMILLS · Apr 2020: +33.3% vs market
ASPINWALL · Nov 2021: +35.0% vs market
GILLANDERS · Apr 2024: +35.3% vs market
AAREYDRUGS · Jul 2024: +38.4% vs market
CENTEXT · Mar 2020: +38.9% vs market
GPTINFRA · Mar 2020: +41.4% vs market
SHREYANIND · Dec 2021: +50.5% vs market
NECCLTD · Feb 2020: +53.9% vs market
SHEMAROO · Mar 2021: +68.6% vs market
LOKESHMACH · Apr 2020: +84.1% vs market
OMFURN · Sep 2024: +99.6% vs market
PIGL · Jan 2024: +295.6% vs market
Similar setups +2.6%All companies −2.8%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
+2.6%
All companies' median
−2.8%
Beat the market
50% vs 47%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ISFT
Retail Trade		 Jun 2024 19x8% −6%−29% −13%
LOKESHMACH
Technology Services		 Apr 2020 4x10% −62%−67% +84%
PATINTLOG
Transportation		 Sep 2021 11x10% +23%−29% −5%
RPPINFRA
Industrial Services		 Apr 2022 11x11% −1%−41% −6%
DUCON
Distribution Services		 Oct 2025 15x12% −41%−47% −60%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PIONEEREMB
Consumer Non-Durables		 Jun 2022 9x12% −29%−51% −17%
KALYANIFRG
Producer Manufacturing		 Feb 2020 7x10% −51%−59% +9%
ASPINWALL
Transportation		 Nov 2021 17x8% +16%−44% +35%
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, ROCE and drawdown from 12-month high. 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 SEMAC CONSTRUCTION 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (94 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1010.6x₹222 cr8.1%10.0%0.3x
2026-0910.9x₹222 cr8.0%10.0%0.3x
2026-0812.3x₹243 cr8.9%10.0%0.3x
2026-0713.5x₹243 cr8.9%10.0%0.3x
2026-0614.7x₹243 cr8.9%10.0%0.3x
2026-0527.9x₹241 cr4.6%-2.0%0.6x
2026-0426.1x₹241 cr4.6%-2.0%0.6x
2026-0320.4x₹241 cr4.6%-2.0%0.6x
2026-02114.0x₹228 cr0.9%-2.0%0.6x
2026-01110.9x₹228 cr0.9%-2.0%0.6x
2025-12146.6x₹228 cr0.9%-2.0%0.6x
2025-11—₹203 cr-3.2%-2.0%0.6x
2025-10—₹203 cr-3.2%-2.0%0.6x
2025-09—₹203 cr-3.2%-2.0%0.6x
2025-08—₹173 cr-7.9%-2.0%0.6x
2025-07—₹173 cr-7.9%-2.0%0.6x
2025-06—₹173 cr-7.9%-2.0%0.6x
2025-05—₹125 cr-28.6%-28.0%0.2x
2025-04—₹125 cr-28.6%-28.0%0.2x
2025-03—₹125 cr-28.6%-28.0%0.2x
2025-02—₹106 cr-45.4%-28.0%0.2x
2025-01—₹106 cr-45.4%-28.0%0.2x
2024-12—₹106 cr-45.4%-28.0%0.2x
2024-11—₹96 cr-45.8%-28.0%0.2x
2024-10—₹96 cr-45.8%-28.0%0.2x
2024-09—₹96 cr-45.8%-28.0%0.2x
2024-08—₹127 cr-40.4%-28.0%0.2x
2024-07—₹127 cr-40.4%-28.0%0.2x
2024-06—₹127 cr-40.4%-28.0%0.2x
2024-0512.0x₹325 cr16.8%25.0%0.1x
2024-0457.1x₹325 cr16.8%25.0%0.1x
2024-0350.7x₹325 cr16.8%25.0%0.1x
2024-0248.1x₹325 cr16.8%25.0%0.1x
2024-0144.9x₹325 cr16.8%25.0%0.1x
2023-1239.6x₹325 cr16.8%25.0%0.1x
2023-1137.3x₹325 cr16.8%25.0%0.1x
2023-1036.8x₹325 cr16.8%25.0%0.1x
2023-0936.8x₹325 cr16.8%25.0%0.1x
2023-0827.1x₹325 cr16.8%25.0%0.1x
2023-0726.2x₹325 cr16.8%25.0%0.1x
2023-0627.4x₹325 cr16.8%25.0%0.1x
2023-05238.3x₹80 cr2.3%1.0%0.0x
2023-04196.0x₹80 cr2.3%1.0%0.0x
2023-03179.2x₹80 cr2.3%1.0%0.0x
2023-02160.1x₹80 cr2.3%1.0%0.0x
2023-01150.3x₹80 cr2.3%1.0%0.0x
2022-12152.6x₹80 cr2.3%1.0%0.0x
2022-11149.0x₹80 cr2.3%1.0%0.0x
2022-10126.1x₹80 cr2.3%1.0%0.0x
2022-09126.3x₹80 cr2.3%1.0%0.0x
2022-08106.5x₹80 cr2.3%1.0%0.0x
2022-0799.5x₹80 cr2.3%1.0%0.0x
2022-0692.6x₹80 cr2.3%1.0%0.0x
2022-0542.0x₹132 cr2.9%5.0%0.2x
2022-0439.7x₹132 cr2.9%5.0%0.2x
2022-0339.7x₹132 cr2.9%5.0%0.2x
2022-0243.0x₹132 cr2.9%5.0%0.2x
2022-0145.5x₹132 cr2.9%5.0%0.2x
2021-1241.2x₹132 cr2.9%5.0%0.2x
2021-1140.4x₹132 cr2.9%5.0%0.2x
2021-1035.9x₹132 cr2.9%5.0%0.2x
2021-0935.1x₹132 cr2.9%5.0%0.2x
2021-0834.4x₹132 cr2.9%5.0%0.2x
2021-0740.2x₹132 cr2.9%5.0%0.2x
2021-0640.2x₹132 cr2.9%5.0%0.2x
2021-0511.7x₹159 cr9.1%11.0%0.1x
2021-0411.6x₹159 cr9.1%11.0%0.1x
2021-039.7x₹159 cr9.1%11.0%0.1x
2021-0211.1x₹159 cr9.1%11.0%0.1x
2021-0111.9x₹159 cr9.1%11.0%0.1x
2020-129.7x₹159 cr9.1%11.0%0.1x
2020-118.8x₹159 cr9.1%11.0%0.1x
2020-108.8x₹159 cr9.1%11.0%0.1x
2020-098.8x₹159 cr9.1%11.0%0.1x
2020-089.1x₹159 cr9.1%11.0%0.1x
2020-078.0x₹159 cr9.1%11.0%0.1x
2020-068.0x₹159 cr9.1%11.0%0.1x
2020-058.2x₹211 cr8.1%9.0%0.0x
2020-048.5x₹211 cr8.1%9.0%0.0x
2020-037.7x₹211 cr8.1%9.0%0.0x
2020-0212.2x₹211 cr8.1%9.0%0.0x
2020-0112.3x₹211 cr8.1%9.0%0.0x
2019-1210.0x₹211 cr8.1%9.0%0.0x
2019-1110.4x₹211 cr8.1%9.0%0.0x
2019-1010.3x₹211 cr8.1%9.0%0.0x
2019-0910.3x₹211 cr8.1%9.0%0.0x
2019-088.9x₹211 cr8.1%9.0%0.0x
2019-079.3x₹211 cr8.1%9.0%0.0x
2019-0611.4x₹211 cr8.1%9.0%0.0x
2019-05—₹162 cr-6.0%-3.0%0.2x
2019-04—₹162 cr-6.0%-3.0%0.2x
2019-03—₹162 cr-6.0%-3.0%0.2x
2019-02—₹162 cr-6.0%-3.0%0.2x
2019-01—₹162 cr-6.0%-3.0%0.2x

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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