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SHUBHLAXMI JEWEL ART LIMITED (SHUBHLAXMI)

Consumer Durables

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.23 / 100
Profitability 17Growth 11Balance sheet 40
Compare withTITAN COMPANY LIMITEDPC JEWELLER LIMITEDTHANGAMAYIL JEWELLERY LIMITED
Share Price
₹18.00
P/E
18.0x
ROCE
7.2%
Market Cap
₹19 cr
Revenue (TTM)
₹61 cr
P/S
0.3x
P/B
0.8x
ROE
4.5%
Debt / Equity
0.6x
Promoter Holding
57.3%
12M Momentum
15.4%
P/E vs its own history31st percentilesince Jun '19
P/E vs Consumer Durables0.7xthe sector median

52-week range

₹13.35₹40.00
17% of the way from its 52-week low to its high

Price risk

1Y volatility
53.9%
Beta vs sector
1-year daily
-0.25

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.43x
low
Share count, 1Y
unchanged

Was the rally earned?

+15%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 18 points, but investors now pay less per rupee of profit (P/E 18.4x to 18.0x), which took 2 points back.
  • The share count barely moved.
1 year Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsP/E change: -2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-2 pts +15% 1 year Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsP/E change: -2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple. +15%
Net profit growth+18 ptsNet profit rose about 18%, which lifts the price.
P/E change-2 ptsThe P/E fell from 18.4x to 18.0x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-78%share price, 3 yearsMultiple-driven

Mostly the multiple.

  • Most of the fall came from investors paying a lower multiple (P/E 71.5x to 18.0x); per-share earnings took off 8 points.
  • The share count rose 21%.
3 years Net profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).P/E change: -71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-71 ptsShare count change: -10 pts. Points of the price return explained by the share count changing. More shares count against the price.-10 pts -78% 3 years Net profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).P/E change: -71 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-71 ptsShare count change: -10 pts. Points of the price return explained by the share count changing. More shares count against the price. -78%
Net profit growth+2 ptsNet profit rose about 4%, which lifts the price.
P/E change-71 ptsThe P/E fell from 71.5x to 18.0x, which lowers the price.
Share count change-9 ptsShare count rose 21%, which lowers the price.
+46%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 6.5x to 18.0x); per-share earnings took off 79 points.
  • The share count rose 28%.
5 years Net profit growth: -49 pts. Points of the price return explained by net profit growing (or shrinking).-49 ptsP/E change: +124 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+124 ptsShare count change: -30 pts. Points of the price return explained by the share count changing. More shares count against the price.-30 pts +46% 5 years Net profit growth: -49 pts. Points of the price return explained by net profit growing (or shrinking).-49 ptsP/E change: +124 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+124 ptsShare count change: -30 pts. Points of the price return explained by the share count changing. More shares count against the price. +46%
Net profit growth-49 ptsNet profit fell about 33%, which lowers the price.
P/E change+124 ptsThe P/E rose from 6.5x to 18.0x, which lifts the price.
Share count change-30 ptsShare count rose 28%, 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.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with TITAN COMPANY

Is it expensive against its own past and its peers?

18.0xP/E todayWithin its usual range
Against its own history31st percentileMedian 24.9x; usual range 8.6x to 75.1x since 2019-06.
Against Consumer Durables18.0x vs 24.7xBelow the Consumer Durables median.
6.3x55.1x104.0x152.8xJun '19Dec '20Jun '22Dec '23Jun '25Oct '266.3x55.1x104.0x152.8xJun '19Dec '21Jun '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianConsumer Durables median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianConsumer Durables 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 Consumer Durables is valued

What is the price implying?

~15%annual earnings growth implied by the price

At a P/E of 19.2x, the price would imply about 14.8%/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 Consumer Durables The market-wide Expectations lists

What changed?

  1. Sep '26Promoter holding fell 6.3 pts to 57.3% (largest drop in the history since 2019-01).
  2. Jun '26Year-on-year EPS growth turned positive.
  3. Jun '26Moved into the 2nd quartile of Consumer Durables on EPS growth (from the bottom quartile).
  4. Mar '26Promoter holding rose 7.4 pts to 63.6% (largest rise in the history since 2019-01).
  5. Jun '25Promoter holding fell 2.6 pts to 56.3% (largest drop since 2024-09).
  6. Jun '25Slipped to the bottom quartile of Consumer Durables on ROCE (from the 3rd quartile).
  7. Sep '24Promoter holding fell 4.7 pts to 60.2%.
  8. Jul '24Share count is up 20.5% over 12 months.
Show 11 earlier events
  1. Jun '24Year-on-year EPS growth turned negative.
  2. Jun '23Year-on-year EPS growth turned positive.
  3. Jun '23Moved into the 3rd quartile of Consumer Durables on EPS growth (from the bottom quartile).
  4. Jun '23Share count is up 6.0% over 12 months.
  5. May '23P/E crossed above the 90th percentile of its own history to date (103.2x).
  6. Jun '22Year-on-year EPS growth turned negative.
  7. Jun '22Slipped to the 3rd quartile of Consumer Durables on ROCE (from the 2nd quartile).
  8. Jan '22Slipped to the 2nd quartile of Consumer Durables on EPS growth (from the top quartile).
  9. Aug '21Fell 94% from the Jul 2019 peak to the Aug 2021 low.
  10. Jun '21P/E fell below the 10th percentile of its own history to date (7.9x).
  11. Jun '20Revenue (TTM) reached a new high of ₹53 cr.

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?

4 of 6 checks are within range, 1 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance1%Within range

Other income as a share of pre-tax profit (trailing twelve months): 0.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion-0.43xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.43x (cash from operations ₹-1.4 cr, net profit ₹3.2 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+6 daysWithin range

Debtor days are above the median of the previous three fiscal years by 6 days (14 vs 8). 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+23 days / 2 yrsWithin range

Days payable changed by +23 over two years. Bands: rise of up to 30 days; more than 30 days.

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 2 years, promoters trimmed 7.6 pts.
  • The number of shareholders rose from 587 to 769 (+31%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters65.0%57.3%-7.6 pts
FIIs———
DIIs———
Public and others35.0%42.7%+7.6 pts

Number of shareholders

769shareholders+31% since Dec '23
587701815929 Dec '23Dec '24Sep '25Mar '26Jun '26
Dec '23: 587
Jun '24: 693
Dec '24: 929
Mar '25: 907
Sep '25: 910
Dec '25: 798
Mar '26: 782
Jun '26: 769
 587701815929 Dec '23Mar '25Mar '26Jun '26
Dec '23: 587
Jun '24: 693
Dec '24: 929
Mar '25: 907
Sep '25: 910
Dec '25: 798
Mar '26: 782
Jun '26: 769

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-94.4%not yet recovered
1-year volatility53.9%annualised

Monthly share price

₹12₹69₹126₹183 Jun '19Dec '20Jun '22Dec '23Jun '25Oct '26
2019-06: ₹165.95
2019-07: ₹183.40
2019-08: ₹179.00
2019-09: ₹158.00
2019-10: ₹152.65
2019-11: ₹82.95
2019-12: ₹37.90
2020-01: ₹41.30
2020-02: ₹35.00
2020-03: ₹24.70
2020-04: ₹23.00
2020-05: ₹23.45
2020-06: ₹21.80
2020-07: ₹19.00
2020-08: ₹27.30
2020-09: ₹23.30
2020-10: ₹14.10
2020-11: ₹13.20
2020-12: ₹24.35
2021-01: ₹16.85
2021-02: ₹14.80
2021-03: ₹14.20
2021-04: ₹14.50
2021-05: ₹13.30
2021-06: ₹15.00
2021-07: ₹12.70
2021-08: ₹12.00
2021-09: ₹12.35
2021-10: ₹12.35
2021-11: ₹13.15
2021-12: ₹16.40
2022-01: ₹19.00
2022-02: ₹16.50
2022-03: ₹13.70
2022-04: ₹14.70
2022-05: ₹32.75
2022-06: ₹29.75
2022-07: ₹32.25
2022-08: ₹32.75
2022-09: ₹44.45
2022-10: ₹49.15
2022-11: ₹46.30
2022-12: ₹42.65
2023-01: ₹42.00
2023-02: ₹44.50
2023-03: ₹40.50
2023-04: ₹70.15
2023-05: ₹97.00
2023-06: ₹81.35
2023-07: ₹93.75
2023-08: ₹90.00
2023-09: ₹86.85
2023-10: ₹82.95
2023-11: ₹86.30
2023-12: ₹85.65
2024-01: ₹87.95
2024-02: ₹81.30
2024-03: ₹83.20
2024-04: ₹77.80
2024-05: ₹42.35
2024-06: ₹33.50
2024-07: ₹30.65
2024-08: ₹24.80
2024-09: ₹37.80
2024-10: ₹27.70
2024-11: ₹26.75
2024-12: ₹34.90
2025-01: ₹31.75
2025-02: ₹26.55
2025-03: ₹18.20
2025-04: ₹16.85
2025-05: ₹18.50
2025-06: ₹16.75
2025-07: ₹16.10
2025-08: ₹13.85
2025-09: ₹16.10
2025-10: ₹15.60
2025-11: ₹25.80
2025-12: ₹35.60
2026-01: ₹34.55
2026-02: ₹29.45
2026-03: ₹24.70
2026-04: ₹23.05
2026-05: ₹19.95
2026-06: ₹24.95
2026-07: ₹18.30
2026-08: ₹19.45
2026-09: ₹18.15
2026-10: ₹18.00
 ₹12₹69₹126₹183 Jun '19Dec '21Jun '24Oct '26
2019-06: ₹165.95
2019-07: ₹183.40
2019-08: ₹179.00
2019-09: ₹158.00
2019-10: ₹152.65
2019-11: ₹82.95
2019-12: ₹37.90
2020-01: ₹41.30
2020-02: ₹35.00
2020-03: ₹24.70
2020-04: ₹23.00
2020-05: ₹23.45
2020-06: ₹21.80
2020-07: ₹19.00
2020-08: ₹27.30
2020-09: ₹23.30
2020-10: ₹14.10
2020-11: ₹13.20
2020-12: ₹24.35
2021-01: ₹16.85
2021-02: ₹14.80
2021-03: ₹14.20
2021-04: ₹14.50
2021-05: ₹13.30
2021-06: ₹15.00
2021-07: ₹12.70
2021-08: ₹12.00
2021-09: ₹12.35
2021-10: ₹12.35
2021-11: ₹13.15
2021-12: ₹16.40
2022-01: ₹19.00
2022-02: ₹16.50
2022-03: ₹13.70
2022-04: ₹14.70
2022-05: ₹32.75
2022-06: ₹29.75
2022-07: ₹32.25
2022-08: ₹32.75
2022-09: ₹44.45
2022-10: ₹49.15
2022-11: ₹46.30
2022-12: ₹42.65
2023-01: ₹42.00
2023-02: ₹44.50
2023-03: ₹40.50
2023-04: ₹70.15
2023-05: ₹97.00
2023-06: ₹81.35
2023-07: ₹93.75
2023-08: ₹90.00
2023-09: ₹86.85
2023-10: ₹82.95
2023-11: ₹86.30
2023-12: ₹85.65
2024-01: ₹87.95
2024-02: ₹81.30
2024-03: ₹83.20
2024-04: ₹77.80
2024-05: ₹42.35
2024-06: ₹33.50
2024-07: ₹30.65
2024-08: ₹24.80
2024-09: ₹37.80
2024-10: ₹27.70
2024-11: ₹26.75
2024-12: ₹34.90
2025-01: ₹31.75
2025-02: ₹26.55
2025-03: ₹18.20
2025-04: ₹16.85
2025-05: ₹18.50
2025-06: ₹16.75
2025-07: ₹16.10
2025-08: ₹13.85
2025-09: ₹16.10
2025-10: ₹15.60
2025-11: ₹25.80
2025-12: ₹35.60
2026-01: ₹34.55
2026-02: ₹29.45
2026-03: ₹24.70
2026-04: ₹23.05
2026-05: ₹19.95
2026-06: ₹24.95
2026-07: ₹18.30
2026-08: ₹19.45
2026-09: ₹18.15
2026-10: ₹18.00

Last 90 trading days

₹16₹20₹25₹29 May 11Jun 10Jul 7Aug 7Sep 28Oct 29
2026-05-11: ₹22.85
2026-05-13: ₹21.55
2026-05-15: ₹20.15
2026-05-19: ₹20.80
2026-05-21: ₹20.15
2026-05-26: ₹19.95
2026-06-02: ₹20.45
2026-06-04: ₹21.20
2026-06-08: ₹23.10
2026-06-10: ₹25.30
2026-06-12: ₹24.55
2026-06-16: ₹24.90
2026-06-18: ₹27.40
2026-06-22: ₹29.00
2026-06-24: ₹27.55
2026-06-29: ₹26.20
2026-07-01: ₹25.20
2026-07-03: ₹26.25
2026-07-07: ₹25.15
2026-07-09: ₹25.45
2026-07-13: ₹23.25
2026-07-17: ₹21.00
2026-07-21: ₹19.85
2026-07-23: ₹21.55
2026-07-28: ₹19.50
2026-07-30: ₹18.45
2026-08-03: ₹18.95
2026-08-07: ₹18.95
2026-08-11: ₹18.10
2026-08-13: ₹19.05
2026-08-18: ₹19.20
2026-08-24: ₹19.45
2026-09-08: ₹18.00
2026-09-10: ₹17.70
2026-09-15: ₹18.40
2026-09-24: ₹19.70
2026-09-28: ₹19.05
2026-10-01: ₹17.25
2026-10-06: ₹16.45
2026-10-08: ₹17.05
2026-10-12: ₹16.50
2026-10-15: ₹15.50
2026-10-19: ₹15.60
2026-10-22: ₹17.05
2026-10-26: ₹18.30
2026-10-29: ₹18.00
 ₹16₹20₹25₹29 May 11Jun 29Aug 18Oct 29
2026-05-11: ₹22.85
2026-05-13: ₹21.55
2026-05-15: ₹20.15
2026-05-19: ₹20.80
2026-05-21: ₹20.15
2026-05-26: ₹19.95
2026-06-02: ₹20.45
2026-06-04: ₹21.20
2026-06-08: ₹23.10
2026-06-10: ₹25.30
2026-06-12: ₹24.55
2026-06-16: ₹24.90
2026-06-18: ₹27.40
2026-06-22: ₹29.00
2026-06-24: ₹27.55
2026-06-29: ₹26.20
2026-07-01: ₹25.20
2026-07-03: ₹26.25
2026-07-07: ₹25.15
2026-07-09: ₹25.45
2026-07-13: ₹23.25
2026-07-17: ₹21.00
2026-07-21: ₹19.85
2026-07-23: ₹21.55
2026-07-28: ₹19.50
2026-07-30: ₹18.45
2026-08-03: ₹18.95
2026-08-07: ₹18.95
2026-08-11: ₹18.10
2026-08-13: ₹19.05
2026-08-18: ₹19.20
2026-08-24: ₹19.45
2026-09-08: ₹18.00
2026-09-10: ₹17.70
2026-09-15: ₹18.40
2026-09-24: ₹19.70
2026-09-28: ₹19.05
2026-10-01: ₹17.25
2026-10-06: ₹16.45
2026-10-08: ₹17.05
2026-10-12: ₹16.50
2026-10-15: ₹15.50
2026-10-19: ₹15.60
2026-10-22: ₹17.05
2026-10-26: ₹18.30
2026-10-29: ₹18.00

Drawdown from peak

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

-94.4% (2019-07 peak to 2021-08 low, not yet recovered)

Where does it rank among Consumer Durables peers?

Each cell is the company's percentile rank among its Consumer Durables 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
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 Consumer Durables sector page Watch it move against Consumer Durables in the Observatory

What happened next to similar setups

−0.2%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 SHUBHLAXMI JEWEL ART LIMITED today on valuation, return on capital, debt, growth, price momentum and size.
  • Over the following 12 months the middle half of them returned −20% to +51% vs the market, against −2% for all non-financial companies in the same months.
  • The gap against the base rate (+1.9%, 80% range −7.9% to +11.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
VINNY · Aug 2024: −67.9% vs market
DANGEE · Jan 2023: −54.6% vs market
AKG · Jun 2023: −48.1% vs market
PIONEEREMB · Aug 2025: −45.9% vs market
GLOBE · Aug 2024: −43.4% vs market
BMETRICS · Feb 2025: −40.0% vs market
RPPL · Aug 2024: −39.7% vs market
BVCL · Feb 2024: −37.4% vs market
GLOBALVECT · Jan 2020: −29.7% vs market
PATINTLOG · Jun 2024: −28.0% vs market
PIGL · Dec 2022: −27.6% vs market
REXPIPES · Oct 2023: −22.3% vs market
RKDL · Jan 2021: −20.4% vs market
ISFT · Apr 2022: −18.6% vs market
MOKSH · Aug 2024: −18.4% vs market
BAGFILMS · Jul 2024: −18.4% vs market
AMBICAAGAR · Apr 2022: −16.7% vs market
JETFREIGHT · Sep 2024: −13.1% vs market
AAKASH · Sep 2024: −12.1% vs market
HILTON · Oct 2020: −10.4% vs market
BANG · Jan 2023: −10.4% vs market
GUJRAFFIA · Feb 2024: −7.7% vs market
AIROLAM · Jul 2023: −7.1% vs market
LAMBODHARA · Oct 2025: −6.5% vs market
RILINFRA · May 2025: −1.3% vs market
SOMICONVEY · Nov 2021: +0.8% vs market
WEWIN · Apr 2022: +3.7% vs market
AROGRANITE · Feb 2021: +3.9% vs market
ARCHIDPLY · Mar 2023: +10.0% vs market
INCREDIBLE · Sep 2024: +13.6% vs market
CROWN · Apr 2022: +18.3% vs market
BEARDSELL · Apr 2023: +29.3% vs market
NAGREEKEXP · Nov 2021: +35.9% vs market
MHLXMIRU · Aug 2024: +37.5% vs market
MOHITIND · Sep 2021: +40.8% vs market
MANAKCOAT · May 2021: +44.5% vs market
KHFM · Aug 2023: +45.7% vs market
OMFURN · Jun 2024: +52.4% vs market
AMDIND · Nov 2022: +52.7% vs market
SURANASOL · Oct 2020: +60.9% vs market
NECCLTD · Feb 2021: +65.8% vs market
MANAKALUCO · Nov 2020: +68.0% vs market
CORDSCABLE · Jun 2023: +84.1% vs market
GINNIFILA · Feb 2021: +91.5% vs market
CENTEXT · Jan 2021: +109.1% vs market
HECPROJECT · Jul 2023: +109.3% vs market
TEXMOPIPES · Mar 2021: +148.5% vs market
PRITIKA · Dec 2023: +172.7% vs market
IRISDOREME · Dec 2020: +231.2% vs market
TERASOFT · Jan 2024: +286.7% vs market
Similar setups −0.2%All companies −2.1%← 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 · 6 beyond the range shown, drawn at the edge

Similar setups' median
−0.2%
All companies' median
−2.1%
Beat the market
50% vs 48%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HILTON
Producer Manufacturing		 Oct 2020 18x5% +21%−50% −10%
GUJRAFFIA
Process Industries		 Feb 2024 24x7% +76%−27% −8%
BMETRICS
Miscellaneous		 Feb 2025 19x— +2%−53% −40%
MOHITIND
Process Industries		 Sep 2021 26x7% +242%−40% +41%
ARCHIDPLY
Producer Manufacturing		 Mar 2023 12x— +30%−50% +10%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
AKG
Distribution Services		 Jun 2023 37x9% +56%−31% −48%
NECCLTD
Transportation		 Feb 2021 19x— +109%−43% +66%
BVCL
Non-Energy Minerals		 Feb 2024 26x10% +146%−21% −37%
How reliable is this?

Matched on P/E, P/S, ROCE, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high and size. Closest on: interest cover, debt/equity and ROCE. Not used (unavailable for this company): operating margin and volatility. 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 SHUBHLAXMI JEWEL ART 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 (89 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1018.0x₹61 cr4.5%7.2%0.6x
2026-0918.1x₹61 cr4.5%7.2%0.6x
2026-0819.4x₹61 cr4.5%7.2%0.6x
2026-0718.3x₹61 cr4.5%7.2%0.6x
2026-0624.9x₹61 cr4.5%7.2%0.6x
2026-0523.5x₹55 cr4.0%8.0%0.6x
2026-0427.1x₹55 cr4.0%8.0%0.6x
2026-0329.1x₹55 cr4.0%8.0%0.6x
2026-0234.6x₹55 cr4.0%8.0%0.6x
2026-0140.6x₹55 cr4.0%8.0%0.6x
2025-1241.9x₹55 cr4.0%8.0%0.6x
2025-1130.4x₹55 cr4.0%8.0%0.6x
2025-1018.4x₹55 cr4.0%8.0%0.6x
2025-0918.9x₹55 cr4.0%8.0%0.6x
2025-0816.3x₹55 cr4.0%8.0%0.6x
2025-0718.9x₹55 cr4.0%8.0%0.6x
2025-0619.7x₹55 cr4.0%8.0%0.6x
2025-0516.1x₹68 cr5.6%9.3%0.5x
2025-0414.7x₹68 cr5.6%9.3%0.5x
2025-0315.8x₹68 cr5.6%9.3%0.5x
2025-0223.1x₹68 cr5.6%9.3%0.5x
2025-0127.6x₹68 cr5.6%9.3%0.5x
2024-1230.3x₹68 cr5.6%9.3%0.5x
2024-1123.3x₹68 cr5.6%9.3%0.5x
2024-1024.1x₹68 cr5.6%9.3%0.5x
2024-0932.9x₹68 cr5.6%9.3%0.5x
2024-0821.6x₹68 cr5.6%9.3%0.5x
2024-0726.7x₹68 cr5.6%9.3%0.5x
2024-0629.1x₹68 cr5.6%9.3%0.5x
2024-0536.5x₹77 cr5.5%9.8%0.6x
2024-0467.1x₹77 cr5.5%9.8%0.6x
2024-0371.7x₹77 cr5.5%9.8%0.6x
2024-0270.1x₹77 cr5.5%9.8%0.6x
2024-0175.8x₹77 cr5.5%9.8%0.6x
2023-1273.8x₹77 cr5.5%9.8%0.6x
2023-1174.4x₹77 cr5.5%9.8%0.6x
2023-1071.5x₹77 cr5.5%9.8%0.6x
2023-0974.9x₹77 cr5.5%9.8%0.6x
2023-0877.6x₹77 cr5.5%9.8%0.6x
2023-0780.8x₹77 cr5.5%9.8%0.6x
2023-0670.1x₹77 cr5.5%9.8%0.6x
2023-05103.2x₹61 cr4.6%8.7%0.4x
2023-0474.6x₹61 cr4.6%8.7%0.4x
2023-0343.1x₹61 cr4.6%8.7%0.4x
2023-0247.3x₹61 cr4.6%8.7%0.4x
2023-0144.7x₹61 cr4.6%8.7%0.4x
2022-1245.4x₹61 cr4.6%8.7%0.4x
2022-1149.3x₹61 cr4.6%8.7%0.4x
2022-1052.3x₹61 cr4.6%8.7%0.4x
2022-0947.3x₹61 cr4.6%8.7%0.4x
2022-0834.8x₹61 cr4.6%8.7%0.4x
2022-0734.3x₹61 cr4.6%8.7%0.4x
2022-0631.6x₹61 cr4.6%8.7%0.4x
2022-0517.1x₹29 cr10.3%13.0%0.3x
2022-047.7x₹29 cr10.3%13.0%0.3x
2022-037.2x₹29 cr10.3%13.0%0.3x
2022-028.6x₹29 cr10.3%13.0%0.3x
2022-019.9x₹29 cr10.3%13.0%0.3x
2021-128.6x₹29 cr10.3%13.0%0.3x
2021-116.9x₹29 cr10.3%13.0%0.3x
2021-106.5x₹29 cr10.3%13.0%0.3x
2021-096.5x₹29 cr10.3%13.0%0.3x
2021-086.3x₹29 cr10.3%13.0%0.3x
2021-076.6x₹29 cr10.3%13.0%0.3x
2021-067.9x₹29 cr10.3%13.0%0.3x
2021-059.1x₹53 cr8.8%11.3%0.5x
2021-049.9x₹53 cr8.8%11.3%0.5x
2021-039.7x₹53 cr8.8%11.3%0.5x
2021-0210.1x₹53 cr8.8%11.3%0.5x
2021-0111.5x₹53 cr8.8%11.3%0.5x
2020-1216.7x₹53 cr8.8%11.3%0.5x
2020-119.0x₹53 cr8.8%11.3%0.5x
2020-109.7x₹53 cr8.8%11.3%0.5x
2020-0916.0x₹53 cr8.8%11.3%0.5x
2020-0818.7x₹53 cr8.8%11.3%0.5x
2020-0713.0x₹53 cr8.8%11.3%0.5x
2020-0614.9x₹53 cr8.8%11.3%0.5x
2020-0519.5x₹51 cr7.9%—0.6x
2020-0419.2x₹51 cr7.9%—0.6x
2020-0320.6x₹51 cr7.9%—0.6x
2020-0229.2x₹51 cr7.9%—0.6x
2020-0134.4x₹51 cr7.9%—0.6x
2019-1231.6x₹51 cr7.9%—0.6x
2019-1169.1x₹51 cr7.9%—0.6x
2019-10127.2x₹51 cr7.9%—0.6x
2019-09131.7x₹51 cr7.9%—0.6x
2019-08149.2x₹51 cr7.9%—0.6x
2019-07152.8x₹51 cr7.9%—0.6x
2019-06138.3x₹51 cr7.9%—0.6x

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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