SINDHU TRADE LINKS LIMITED (SINDHUTRAD): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹20.67 latest close · −25.3% over the last 90 sessions

₹20.67 month-end · −12.6% over 12 months

₹20.67 month-end · −26.6% over 3 years

₹20.67 month-end · −10.5% since Jun '23

52-week range ₹17.64 to ₹28.64 · 1-year volatility 45.9%

Was the rally earned?

-13%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 10 points, but investors now pay less per rupee of profit (P/E 52.6x to 41.3x), which took 22 points back.
The share count barely moved.

Net profit growth+10 ptsNet profit rose about 11%, which lifts the price.

P/E change-22 ptsThe P/E fell from 52.6x to 41.3x, 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 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 DELHIVERY

How rough has the ride been?

Maximum drawdown-68.2%not yet recovered

1-year volatility45.9%annualised

Beta vs sector index0.743-year daily, correlation 0.29

Volume spikes12last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-68.2% (2024-02 peak to 2025-03 low, not yet recovered)

-26.3% (2023-08 peak to 2023-10 low, recovered 2023-12)

-25.4% (2023-12 peak to 2024-01 low, recovered 2024-02)

Most recent volume spikes

2026-10-30: 5.4x the 50-day median, price -1.8% that day

2026-10-06: 7x the 50-day median, price -0.6% that day

2026-09-18: 6.6x the 50-day median, price +6.2% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

41.3xP/E todayWithin its usual range

Against its own history58th percentile

CheapestMedian 39.4xDearest

Usual range 22.2x to 65.0x since 2023-06.

Against Transportation41.3x vs 15.9x

This company

41.3x

Sector median

15.9x

159% above the Transportation median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianTransportation median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTransportation median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Transportation is valued

Where does it rank among Transportation peers?

Each cell is the company's percentile rank among its Transportation 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

ROCE16th▼ 52 pts vs a year ago
Op. margin60th▲ 26 pts vs a year ago
Revenue growth5thflat vs a year ago
EPS growth55th▲ 38 pts vs a year ago
Debt/equity ↓67thflat vs a year ago
Cash cycle ↓6th▼ 35 pts vs a year ago
P/E ↓23rd▲ 6 pts vs a year ago
12M momentum45th▼ 37 pts vs a year ago

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 Transportation sector page Watch it move against Transportation in the Observatory

What is the price implying?

~33%annual earnings growth implied by the price

At a P/E of 83.1x, the price would imply about 32.9%/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 Transportation The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹20.67
P/E: 41.3x
ROCE: 5.0%
Market Cap: ₹3806 cr
Revenue (TTM): ₹487 cr
P/S: 7.8x
P/B: 2.2x
ROE: 5.3%
Operating Margin: 16.0%
Debt / Equity: 0.3x
Promoter Holding: 75.0%
12M Momentum: -12.6%

52-week range

₹17.64₹28.64

28% of the way from its 52-week low to its high

Price risk

1Y volatility

45.9%

Beta vs sector

1-year daily

0.86

Balance sheet & cash

Interest cover

operating profit ÷ interest

2.7x

Cash from profit, 3Y

operating cash flow ÷ net profit

2.73x

Share count, 1Y

unchanged

Are profits backed by cash?

2 of 6checks within range2 beyond a threshold

Other income reliance149%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 149.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate12%Near threshold

Median quarterly effective tax rate over about 2.5 years: 12.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.73xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.73x (cash from operations ₹683 cr, net profit ₹250 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+155 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 155 days (230 vs 75). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% 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?

Over 2 years, FIIs added 2.9 pts.
The number of shareholders rose from 16,182 to 39,749 (+146%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change

Promoters75.0%75.0%0.0 pts

FIIs0.3%3.2%+2.9 pts

DIIs0.0%0.0%0.0 pts

Public and others24.8%21.9%-2.9 pts

Number of shareholders

39,749shareholders+146% since Dec '23

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

−7.9%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 SINDHU TRADE LINKS 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 −32% to +17% vs the market, against −2% for all non-financial companies in the same months.
The gap against the base rate (−6.1%, 80% range −12.1% to +0.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge

Similar setups' median

−7.9%

All companies' median

−1.8%

Beat the market

42% vs 48%

50 past situations · 50 companies · 37 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
RUSTOMJEE Finance	Mar 2024	84x	5%	+31%	−18%	−15%
ITI Electronic Technology	Apr 2023	74x	8%	−6%	−24%	+118%
JAICORPLTD Process Industries	Oct 2024	98x	4%	+10%	−20%	−52%
HEG Producer Manufacturing	Feb 2021	83x	0%	+65%	−5%	−35%
NINSYS Technology Services	Mar 2025	34x	—	−8%	−32%	−9%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
GUFICBIO Health Technology	Nov 2024	48x	—	+24%	−15%	−17%
MANINFRA Finance	Jan 2020	19x	12%	−8%	−23%	−8%
SUNTECK Finance	Oct 2025	40x	6%	−20%	−21%	−33%

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 ROCE. 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 SINDHU TRADE LINKS 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

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.

PRABHA ENERGYPRABHA

Utilities

58%similar

promoter holdingvolatility

ALL TIME PLASTICSALLTIME

Producer Manufacturing

53%similar

P/Evolatility

VALIANT LABORATORIESVALIANTLAB

Health Technology

49%similar

promoter holdingP/E

IG PETROCHEMICALSIGPL

Process Industries

48%similar

debt/equityROCE

TATVA CHINTAN PHARMA CHEMTATVA

Process Industries

48%similar

market caprevenue

DREDGING CORPORATION OF INDIADREDGECORP

Transportation

45%similar

ROCEoperating margin

TCI EXPRESSTCIEXP

Transportation

36%similar

volatilitymarket cap

AEGIS VOPAK TERMINALSAEGISVOPAK

Transportation

23%similar

promoter holdingvolatility

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

What changed?

30 events since Feb '24

2026
OctPriceVolume reached 7.0x its 50-day median on 2026-10-06; price -0.6% that day.
SepResultsYear-on-year EPS growth turned positive.
SepPeer rankMoved into the 2nd quartile of Transportation on operating margin (from the bottom quartile).
SepPriceVolume reached 15.2x its 50-day median on 2026-09-04; price +5.6% that day.
JunResultsEPS (TTM) turned positive.
JunPeer rankSlipped to the bottom quartile of Transportation on ROCE (from the 2nd quartile).
MayPriceVolume reached 51.7x its 50-day median on 2026-05-20; price +19.1% that day.
JanDebtDebt / equity halved over 12 months to 0.23x.

Show 22 earlier events

2026
JanPriceVolume reached 32.9x its 50-day median on 2026-01-29; price +5.9% that day.
2025
DecResultsEPS (TTM) turned negative.
DecPeer rankSlipped to the bottom quartile of Transportation on operating margin (from the 3rd quartile).
DecPriceVolume reached 6.1x its 50-day median on 2025-12-02; price -1.2% that day.
SepResultsYear-on-year EPS growth turned negative.
SepPeer rankMoved into the 3rd quartile of Transportation on operating margin (from the bottom quartile).
SepPriceVolume reached 29.0x its 50-day median on 2025-09-17; price +10.2% that day.
JunPeer rankMoved into the 2nd quartile of Transportation on ROCE (from the 3rd quartile).
JunDebtDebt / equity halved over 12 months to 0.23x.
AprPriceVolume reached 9.7x its 50-day median on 2025-04-11; price +2.7% that day.
MarResultsRevenue (TTM) reached a new high of ₹1,881 cr.
MarPriceFell 68% from the Feb 2024 peak to the Mar 2025 low.
MarPeer rankMoved into the 3rd quartile of Transportation on operating margin (from the bottom quartile).
JanPriceVolume reached 13.3x its 50-day median on 2025-01-07; price +14.1% that day.
2024
DecPeer rankSlipped to the bottom quartile of Transportation on operating margin (from the 2nd quartile).
OctPriceVolume reached 13.3x its 50-day median on 2024-10-09; price +11.2% that day.
SepPeer rankMoved into the 2nd quartile of Transportation on operating margin (from the bottom quartile).
SepPriceVolume reached 6.8x its 50-day median on 2024-09-02; price +3.4% that day.
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the 3rd quartile of Transportation on ROCE (from the bottom quartile).
JunDebtDebt / equity fell below 1.0x (0.68x).
FebPriceRegained the 2023-12 peak, 1 month after the low.

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 history42 months · 2023-06 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	41.3x	₹487 cr	5.3%	5.0%	0.3x
2026-10	39.0x	₹487 cr	5.3%	5.0%	0.3x
2026-09	45.8x	₹487 cr	5.3%	5.0%	0.3x
2026-08	67.5x	₹523 cr	3.9%	5.0%	0.3x
2026-07	66.0x	₹523 cr	3.9%	5.0%	0.3x
2026-06	67.1x	₹523 cr	3.9%	5.0%	0.3x
2026-05	—	₹705 cr	-1.1%	16.0%	0.2x
2026-04	—	₹705 cr	-1.1%	16.0%	0.2x
2026-03	—	₹705 cr	-1.1%	16.0%	0.2x
2026-02	—	₹1097 cr	-2.6%	16.0%	0.2x
2026-01	—	₹1097 cr	-2.6%	16.0%	0.2x
2025-12	—	₹1097 cr	-2.6%	16.0%	0.2x
2025-11	52.6x	₹1343 cr	5.1%	16.0%	0.2x
2025-10	52.9x	₹1343 cr	5.1%	16.0%	0.2x
2025-09	62.8x	₹1343 cr	5.1%	16.0%	0.2x
2025-08	29.7x	₹1732 cr	9.0%	16.0%	0.2x
2025-07	34.7x	₹1732 cr	9.0%	16.0%	0.2x
2025-06	32.8x	₹1732 cr	9.0%	16.0%	0.2x
2025-05	43.0x	₹1881 cr	6.3%	6.0%	0.7x
2025-04	37.9x	₹1881 cr	6.3%	6.0%	0.7x
2025-03	31.4x	₹1881 cr	6.3%	6.0%	0.7x
2025-02	12.8x	₹1786 cr	14.2%	6.0%	0.7x
2025-01	17.8x	₹1786 cr	14.2%	6.0%	0.7x
2024-12	19.0x	₹1786 cr	14.2%	6.0%	0.7x
2024-11	31.4x	₹1813 cr	8.9%	6.0%	0.7x
2024-10	30.3x	₹1813 cr	8.9%	6.0%	0.7x
2024-09	34.0x	₹1813 cr	8.9%	6.0%	0.7x
2024-08	50.0x	₹1686 cr	5.5%	6.0%	0.7x
2024-07	39.8x	₹1686 cr	5.5%	6.0%	0.7x
2024-06	46.5x	₹1686 cr	5.5%	6.0%	0.7x
2024-05	—	₹1177 cr	-0.2%	5.0%	1.2x
2024-04	—	₹1177 cr	-0.2%	5.0%	1.2x
2024-03	—	₹1177 cr	-0.2%	5.0%	1.2x
2024-02	—	₹1177 cr	-0.2%	5.0%	1.2x
2024-01	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-12	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-11	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-10	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-09	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-08	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-07	—	₹1177 cr	-0.2%	5.0%	1.2x
2023-06	—	₹1177 cr	-0.2%	5.0%	1.2x

Methodology and data notes