अApnaFunda

SHANTI GOLD INTERNATIONAL LTD (SHANTIGOLD)

Producer Manufacturing · Jewelry · figures to Nov '26

Newly listed or thinly covered: fundamentals appear here once there is enough reported history. Prices and market cap are up to date.

Share price

Closing priceAdjusted for splits and bonus issues.

₹270.9 latest close · +22.2% over the last 90 sessions

₹200₹300₹400Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹300₹400Jul 3Sep 4Nov 9

₹270.9 month-end · +27.4% over 12 months

₹150₹200₹250₹300Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹150₹200₹250₹300Nov '25May '26Nov '26

₹270.9 month-end · +23.4% since Aug '25

₹150₹200₹250₹300Aug '25Nov '25Feb '26May '26Aug '26Nov '26 ₹150₹200₹250₹300Aug '25Apr '26Nov '26

52-week range ₹154.92 to ₹437.60 · 1-year volatility 54.0%

How rough has the ride been?

Maximum drawdown-38.1%recovered 2026-08
1-year volatility54.0%annualised
Volume spikes9last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−10%−20%−30%2026−36.0% 0%−10%−20%−30%2026−36.0%
Largest drawdowns

-38.1% (2025-08 peak to 2026-03 low, recovered 2026-08)

-36.0% (2026-10 peak to 2026-11 low, not yet recovered)

Most recent volume spikes

2026-10-09: 5.2x the 50-day median, price +8.5% that day

2026-09-28: 5.5x the 50-day median, price -5.2% that day

2026-09-25: 27.4x the 50-day median, price +14.8% that day

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • P/E ↓83rd
  • 12M momentum78th

Rank history

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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~12%annual earnings growth implied by the price

At a P/E of 14.8x, the price would imply about 11.9%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹270.90
P/E
14.8x
Market Cap
₹2081 cr
Revenue (TTM)
₹2019 cr
P/S
1.0x
Promoter Holding
74.9%
12M Momentum
27.4%

52-week range

₹154.92₹437.60
41% of the way from its 52-week low to its high

Price risk

1Y volatility
54.0%
Beta vs sector
1-year daily
1.06

Balance sheet & cash

Interest cover
operating profit ÷ interest
11.3x

Are profits backed by cash?

1 of 1checks within rangeAll clear
Other income reliance5%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow—Not enough data

Not enough reported data to compute this.

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress—Not enough data

Not enough reported data to compute this.

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 Sep 2025, DIIs trimmed 2.4 pts; FIIs trimmed 0.8 pts.
  • The number of shareholders fell from 35,483 to 30,274 (-15%) between Sep 2025 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '25Jun '26Change
Promoters74.9%74.9%0.0 pts
FIIs2.7%1.9%-0.8 pts
DIIs4.0%1.6%-2.4 pts
Public and others18.4%21.6%+3.2 pts

Number of shareholders

30,274shareholders-15% since Sep '25
30k32k34k35k Sep '25Dec '25Mar '26Jun '26
Sep '25: 35,483
Dec '25: 34,135
Mar '26: 32,844
Jun '26: 30,274
30k32k34k35k Sep '25Dec '25Mar '26Jun '26
Sep '25: 35,483
Dec '25: 34,135
Mar '26: 32,844
Jun '26: 30,274

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

−4.1%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 SHANTI GOLD INTERNATIONAL 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 −27% to +38% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (−2.8%, 80% range −6.6% to +5.6%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
EKC · Dec 2021: −59.3% vs market
UGARSUGAR · Jul 2023: −57.0% vs market
ICIL · Sep 2021: −54.1% vs market
KAPSTON · Sep 2020: −52.7% vs market
TIRUPATIFL · Nov 2022: −49.2% vs market
DCI · Jul 2024: −45.4% vs market
KUANTUM · Jun 2023: −43.9% vs market
SPIC · Aug 2025: −40.3% vs market
KCP · Jul 2021: −37.0% vs market
RUPA · Jul 2021: −33.9% vs market
STEELCAS · Aug 2023: −33.6% vs market
DSSL · Dec 2024: −28.7% vs market
VSSL · Mar 2023: −27.7% vs market
DPABHUSHAN · Jul 2025: −23.1% vs market
SRM · Sep 2025: −22.7% vs market
PVP · Feb 2024: −19.4% vs market
GULPOLY · Sep 2021: −12.4% vs market
ESTER · Apr 2021: −11.6% vs market
REDINGTON · May 2021: −9.0% vs market
HGINFRA · Sep 2021: −8.6% vs market
BCLIND · Apr 2022: −8.1% vs market
IGPL · Jun 2021: −6.8% vs market
SMLT · Feb 2023: −4.4% vs market
THEMISMED · Apr 2023: −4.4% vs market
PANAMAPET · Jul 2021: −4.1% vs market
GULFOILLUB · Aug 2024: −4.1% vs market
DWARKESH · Jan 2022: −1.1% vs market
SSWL · Jun 2022: +2.8% vs market
MONTECARLO · Jun 2022: +5.1% vs market
SRHHYPOLTD · May 2022: +7.1% vs market
REFEX · Jul 2023: +7.5% vs market
TIIL · Mar 2023: +10.1% vs market
DPWIRES · Jan 2022: +11.1% vs market
JTLIND · Jan 2023: +15.7% vs market
BBTCL · Nov 2021: +25.3% vs market
IOLCP · Apr 2020: +30.5% vs market
GLOBUSSPR · Jun 2021: +34.4% vs market
VADILALIND · Apr 2024: +38.5% vs market
RADHIKAJWE · Jul 2024: +48.1% vs market
CLSEL · Dec 2023: +48.5% vs market
FORCEMOT · May 2025: +53.9% vs market
KRISHANA · Jul 2025: +58.7% vs market
JSL · Feb 2023: +61.2% vs market
APARINDS · Jun 2023: +67.7% vs market
JWL · Apr 2022: +89.0% vs market
SHAREINDIA · Sep 2021: +93.1% vs market
RAMKY · Oct 2022: +93.5% vs market
TRIVENI · Apr 2021: +110.1% vs market
REPL · Sep 2020: +149.3% vs market
MBAPL · Aug 2021: +267.2% vs market
Similar setups −4.1%All companies −1.3%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−4.1%
All companies' median
−1.3%
Beat the market
46% vs 48%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SMLT
Non-Energy Minerals
Feb 2023 9x40% +73%−2% −4%
SRM
Industrial Services
Sep 2025 21x31% +102%−5% −23%
DPWIRES
Producer Manufacturing
Jan 2022 21x29% +220%0% +11%
IOLCP
Process Industries
Apr 2020 7x56% +63%−5% +31%
EKC
Producer Manufacturing
Dec 2021 26x36% +361%0% −59%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KUANTUM
Process Industries
Jun 2023 12x22% +170%0% −44%
PVP
Technology Services
Feb 2024 20x58% +339%0% −19%
BBTCL
Process Industries
Nov 2021 21x24% +284%0% +25%
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, 12-month momentum and size. 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 SHANTI GOLD INTERNATIONAL 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 changed?

8 events since Nov '25

  1. NovPriceFell 36% from the Oct 2026 peak to the Nov 2026 low.
  2. OctPriceVolume reached 5.2x its 50-day median on 2026-10-09; price +8.5% that day.
  3. SepPriceVolume reached 27.4x its 50-day median on 2026-09-25; price +14.8% that day.
  4. AugPriceRegained the 2025-08 peak, 5 months after the low.
  5. MayPriceVolume reached 20.3x its 50-day median on 2026-05-06; price +8.8% that day.
  6. MarPriceFell 38% from the Aug 2025 peak to the Mar 2026 low.
  7. JanPriceVolume reached 75.6x its 50-day median on 2026-01-07; price +14.8% that day.
  8. NovPriceVolume reached 9.5x its 50-day median on 2025-11-06; price -2.9% 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 history16 months · 2025-08 to 2026-11
MonthP/ERevenue (TTM)
2026-1114.8x₹2019 cr
2026-1016.2x₹2019 cr
2026-0916.9x₹2019 cr
2026-0813.5x₹2019 cr
2026-0711.9x₹2019 cr
2026-0612.2x₹2019 cr
2026-05——
2026-04——
2026-03——
2026-02——
2026-01——
2025-12——
2025-11——
2025-10——
2025-09——
2025-08——

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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