अApnaFunda
Menu

SMC GLOBAL SECURITIES LIMITED (SMCGLOBAL)

Finance · Investment Banks/Brokers · figures to Nov '26

Divergence: price ahead of business (3 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.36 / 100
Profitability 49Growth 38Balance sheet 22
Momentum scoreHow strong the recent trend is: 3-month price change, 12-month improvement in earnings and the rise in FII + DII holding, among companies above ₹500 cr.49 / 100
Price 90Earnings 20FII/DII 36

Passes these screensHigh MomentumPrice ahead of business

Compare withBSEBILLIONBRAINS GARAGE VENTURESMULTI COMMODITY EXCHANGE

Share price

Closing priceAdjusted for splits and bonus issues.

₹95.49 latest close · +37.6% over the last 90 sessions

₹80₹100₹120Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹80₹100₹120Jul 3Sep 4Nov 9

₹95.49 month-end · +54.5% over 12 months

₹60₹80Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹60₹80Nov '25May '26Nov '26

₹95.49 month-end · +87.3% over 3 years

₹60₹80Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹60₹80Nov '23May '25Nov '26

₹95.49 month-end · +81.6% since Feb '21

₹40₹60₹80₹100Feb '21Apr '22Jun '23Jul '24Sep '25Nov '26 ₹40₹60₹80₹100Feb '21Jan '24Nov '26

52-week range ₹54.44 to ₹124.00 · 1-year volatility 52.4%

Was the rally earned?

+55%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 10.6x to 18.3x); per-share earnings took off 14 points.
  • The share count barely moved.
Net profit growth: −16 pts. Points of the price return explained by net profit growing (or shrinking).−16 ptsNet profit growthP/E change: +69 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+69 ptsP/E changeShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2 ptsShare count changeShare price: +55%+55%Share priceNet profit growth: −16 pts. Points of the price return explained by net profit growing (or shrinking).−16ProfitP/E change: +69 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+69P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +55%+55%Share price
Net profit growth-16 ptsNet profit fell about 12%, which lowers the price.
P/E change+69 ptsThe P/E rose from 10.6x to 18.3x, which lifts the price.
Share count change+2 ptsShare count was little changed. More shares would count against the price.
+87%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 8.9x to 18.3x); per-share earnings took off 13 points.
  • The share count barely moved.
Net profit growth: −13 pts. Points of the price return explained by net profit growing (or shrinking).−13 ptsNet profit growthP/E change: +101 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+101 ptsP/E changeShare price: +87%+87%Share priceNet profit growth: −13 pts. Points of the price return explained by net profit growing (or shrinking).−13ProfitP/E change: +101 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+101P/EShare price: +87%+87%Share price
Net profit growth-13 ptsNet profit fell about 9%, which lowers the price.
P/E change+101 ptsThe P/E rose from 8.9x to 18.3x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+164%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 7.8x to 18.3x); per-share earnings added 20 points.
  • The share count fell 8%.
Net profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6 ptsNet profit growthP/E change: +144 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+144 ptsP/E changeShare count change: +14 pts. Points of the price return explained by the share count changing. More shares count against the price.+14 ptsShare count changeShare price: +164%+164%Share priceNet profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6ProfitP/E change: +144 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+144P/EShare count change: +14 pts. Points of the price return explained by the share count changing. More shares count against the price.+14SharesShare price: +164%+164%Share price
Net profit growth+6 ptsNet profit rose about 4%, which lifts the price.
P/E change+144 ptsThe P/E rose from 7.8x to 18.3x, which lifts the price.
Share count change+14 ptsShare count fell 8%, which lifts 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 BSE

How rough has the ride been?

Maximum drawdown-41.0%recovered 2025-12
1-year volatility52.4%annualised
Beta vs sector index0.933-year daily, correlation 0.37
Volume spikes17last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%20222023202420252026−41.0% 0%−20%−40%202220242026−41.0%
Largest drawdowns

-41.0% (2024-06 peak to 2025-03 low, recovered 2025-12)

-39.6% (2026-01 peak to 2026-03 low, recovered 2026-09)

-36.1% (2021-02 peak to 2021-05 low, recovered 2023-11)

Most recent volume spikes

2026-10-16: 9.8x the 50-day median, price +1.5% that day

2026-10-15: 7.5x the 50-day median, price -5.9% that day

2026-10-14: 6x the 50-day median, price -1.9% 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?

18.3xP/E todayNear its historic high
Against its own history93rd percentile
CheapestMedian 8.5xDearest

Usual range 5.2x to 17.5x since 2021-02.

Against Finance18.3x vs 18.1x
This company
18.3x
Sector median
18.1x

Close to the Finance median.

4.6x19.9x35.3x50.6xFeb '21Apr '22Jun '23Aug '24Oct '25Nov '264.6x19.9x35.3x50.6xFeb '21Jan '23Dec '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianFinance median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianFinance 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 Finance is valued

Where does it rank among Finance peers?

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

  • ROCE59th▼ 8 pts vs a year ago
  • Op. margin40thflat vs a year ago
  • Revenue growth47th▲ 9 pts vs a year ago
  • EPS growth35th▲ 13 pts vs a year ago
  • Debt/equity ↓13thflat vs a year ago
  • Cash cycle ↓19thflat vs a year ago
  • P/E ↓58th▼ 29 pts vs a year ago
  • 12M momentum95th▲ 53 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 Finance sector page Watch it move against Finance in the Observatory

What is the price implying?

~10%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 13.8x, a holder earning 12%/yr needs earnings to grow about 9.7%/yr for 10 years, then trade at 15x.

Delivered15.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−5.5 ptsimplied minus delivered
Rank634thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

0%11%23% Jun 2020Nov 2026 0%11%23% Jun 2020Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x11.0%12.0%13.0%
15x8.8%9.7%10.7%
20x5.8%6.8%7.8%

Drag a slider to test other assumptions

Implied: 9.7%/yr

Looking back

  • Jan 2022Price implied 11%/yr; EPS has since grown 1%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Finance The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹95.49
P/E
18.3x
ROCE
11.0%
Market Cap
₹1999 cr
Revenue (TTM)
₹1967 cr
P/S
1.0x
P/B
1.5x
ROE
8.4%
Operating Margin
21.0%
Debt / Equity
1.6x
Promoter Holding
66.7%
12M Momentum
54.5%

52-week range

₹54.44₹124.00
59% of the way from its 52-week low to its high

Price risk

1Y volatility
52.4%
Beta vs sector
1-year daily
1.01

Balance sheet & cash

Interest cover
operating profit ÷ interest
1.7x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.55x
low
Share count, 1Y
unchanged

Are profits backed by cash?

2 of 6checks within range3 beyond a threshold
Other income reliance6%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate23%Within range

Median quarterly effective tax rate over about 2.5 years: 23.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.55xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.55x (cash from operations ₹-242 cr, net profit ₹438 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+45 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 45 days (161 vs 116). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress65% of fixed assetsBeyond threshold

Capital work-in-progress is 65% 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 3 years, FIIs added 1.1 pts; promoters trimmed 0.7 pts.
  • The number of shareholders rose from 16,026 to 25,147 (+57%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters67.4%66.7%-0.7 pts
FIIs1.1%2.1%+1.1 pts
DIIs0.0%0.0%0.0 pts
Public and others31.6%31.1%-0.4 pts

Number of shareholders

25,147shareholders+57% since Sep '23
16k20k25k29k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 16,026
Dec '23: 20,441
Mar '24: 24,361
Jun '24: 26,199
Sep '24: 28,116
Dec '24: 29,343
Mar '25: 29,146
Jun '25: 27,562
Sep '25: 26,630
Dec '25: 26,031
Mar '26: 25,250
Jun '26: 25,147
 16k20k25k29k Sep '23Sep '24Sep '25Jun '26
Sep '23: 16,026
Dec '23: 20,441
Mar '24: 24,361
Jun '24: 26,199
Sep '24: 28,116
Dec '24: 29,343
Mar '25: 29,146
Jun '25: 27,562
Sep '25: 26,630
Dec '25: 26,031
Mar '26: 25,250
Jun '26: 25,147

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

−4.4%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 SMC GLOBAL SECURITIES 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 −31% to +32% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (−0.9%, 80% range −7.6% to +4.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
AFSL · Aug 2024: −58.7% vs market
AVG · Oct 2024: −56.8% vs market
UGARSUGAR · Mar 2023: −52.2% vs market
HIMATSEIDE · Mar 2025: −47.0% vs market
MARALOVER · Jan 2022: −45.9% vs market
EMIL · May 2024: −43.1% vs market
EMBDL · Jan 2020: −41.3% vs market
KESORAMIND · Jun 2021: −40.3% vs market
SHIVATEX · Jul 2021: −36.8% vs market
HPL · Jun 2025: −36.7% vs market
PATELENG · Aug 2023: −32.1% vs market
AWHCL · Jun 2025: −31.3% vs market
AVADHSUGAR · Apr 2022: −31.2% vs market
INDORAMA · Feb 2022: −28.9% vs market
RPSGVENT · Oct 2024: −21.6% vs market
NITINSPIN · Feb 2022: −21.1% vs market
NETWORK18 · Aug 2020: −19.4% vs market
AJMERA · Jun 2021: −15.2% vs market
RML · Oct 2023: −13.7% vs market
RPOWER · Apr 2022: −13.2% vs market
GOODLUCK · Nov 2023: −12.6% vs market
REMSONSIND · Dec 2023: −7.2% vs market
RICOAUTO · Jul 2023: −7.0% vs market
ARIHANTSUP · Jul 2022: −5.6% vs market
MANORG · Jun 2025: −5.0% vs market
DBL · Oct 2024: −3.9% vs market
INDSWFTLAB · Aug 2023: −3.9% vs market
FILATEX · Sep 2021: −3.0% vs market
JKTYRE · Aug 2023: +0.3% vs market
ASHAPURMIN · Aug 2023: +1.3% vs market
SALZERELEC · Apr 2024: +12.5% vs market
GPTINFRA · May 2024: +16.3% vs market
HITECH · Mar 2023: +17.8% vs market
SURYAROSNI · Dec 2020: +19.3% vs market
BLKASHYAP · May 2023: +22.1% vs market
PCBL · Jul 2024: +28.6% vs market
INDIANHUME · May 2024: +29.2% vs market
PITTIENG · Dec 2021: +33.0% vs market
EDELWEISS · Dec 2023: +35.3% vs market
STEELXIND · Oct 2020: +35.4% vs market
PENIND · May 2024: +40.6% vs market
TCPLPACK · Sep 2022: +58.5% vs market
LTFOODS · May 2020: +64.2% vs market
COSMOFIRST · Mar 2020: +65.8% vs market
JSL · Jan 2020: +69.2% vs market
TI · Jun 2022: +71.1% vs market
GPIL · Jan 2021: +84.8% vs market
KIRLOSENG · Aug 2023: +87.2% vs market
VISHNU · Jul 2021: +123.8% vs market
GOKEX · Jun 2021: +146.0% vs market
Similar setups −4.4%All companies −3.5%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge

Similar setups' median
−4.4%
All companies' median
−3.5%
Beat the market
44% vs 46%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KIRLOSENG
Producer Manufacturing		 Aug 2023 21x13% +113%−7% +87%
TCPLPACK
Commercial Services		 Sep 2022 23x14% +120%−23% +59%
RPOWER
Utilities		 Apr 2022 17x7% +194%−23% −13%
VISHNU
Process Industries		 Jul 2021 22x12% +388%−7% +124%
EDELWEISS
Finance		 Dec 2023 21x10% +80%−7% +35%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PITTIENG
Producer Manufacturing		 Dec 2021 26x— +320%−9% +33%
JKTYRE
Consumer Durables		 Aug 2023 25x11% +94%−4% 0%
AWHCL
Transportation		 Jun 2025 23x12% +33%−23% −31%
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: drawdown from 12-month high, ROCE and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to SMC GLOBAL SECURITIES LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

TRUALT BIOENERGYTRUALT
Energy Minerals
64%similar
operating marginrevenue
REGAAL RESOURCESREGAAL
Process Industries
63%similar
debt/equityvolatility
S.P. APPARELSSPAL
Consumer Non-Durables
63%similar
market capP/E
RAJRATAN GLOBAL WIRERAJRATAN
Producer Manufacturing
61%similar
market cappromoter holding
NRAGARWAL INDUSTRIESNRAIL
Process Industries
58%similar
P/Erevenue
ARIHANT SUPERSTRUCTURES LIMITEARIHANTSUP
Finance
59%similar
ROCEEPS growth
RPSG VENTURESRPSGVENT
Finance
56%similar
operating marginROCE
AJMERA REALTY & INFRA INDIA LIAJMERA
Finance
50%similar
P/Epromoter holding

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

What changed?

30 events since Jun '23

  1. OctPriceVolume reached 133.1x its 50-day median on 2026-10-05; price +15.6% that day.
  2. SepPriceRegained the 2026-01 peak, 6 months after the low.
  3. SepValuationP/E crossed above the 90th percentile of its own history to date (18.1x).
  4. SepPriceVolume reached 79.3x its 50-day median on 2026-09-10; price +2.0% that day.
  5. JunResultsRevenue (TTM) reached a new high of ₹1,877 cr.
  6. JunPeer rankMoved into the 3rd quartile of Finance on EPS growth (from the bottom quartile).
  7. JunPriceVolume reached 7.5x its 50-day median on 2026-06-11; price +4.6% that day.
  8. AprValuationP/E crossed above the 90th percentile of its own history to date (16.7x).
Show 22 earlier events
  1. MarPriceFell 40% from the Jan 2026 peak to the Mar 2026 low.
  2. FebPriceVolume reached 14.6x its 50-day median on 2026-02-05; price +10.0% that day.
  3. DecPriceRegained the 2024-06 peak, 9 months after the low.
  4. DecValuationP/E crossed above the 90th percentile of its own history to date (19.5x).
  5. DecPriceVolume reached 66.7x its 50-day median on 2025-12-23; price -0.8% that day.
  6. SepPeer rankSlipped to the bottom quartile of Finance on EPS growth (from the 3rd quartile).
  7. SepPriceVolume reached 6.8x its 50-day median on 2025-09-18; price +1.4% that day.
  8. JunResultsYear-on-year EPS growth turned negative.
  9. JunPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
  10. JunPriceVolume reached 14.1x its 50-day median on 2025-06-13; price +5.4% that day.
  11. MarPriceFell 41% from the Jun 2024 peak to the Mar 2025 low.
  12. OctPriceVolume reached 6.0x its 50-day median on 2024-10-15; price +10.3% that day.
  13. SepPriceVolume reached 6.1x its 50-day median on 2024-09-13; price +6.9% that day.
  14. JunResultsYear-on-year EPS growth turned positive.
  15. JunPeer rankMoved into the 2nd quartile of Finance on EPS growth (from the 3rd quartile).
  16. MayPriceVolume reached 11.9x its 50-day median on 2024-05-13; price +0.7% that day.
  17. FebPeer rankSlipped to the 2nd quartile of Finance on ROCE (from the top quartile).
  18. FebPriceVolume reached 24.2x its 50-day median on 2024-02-05; price +14.8% that day.
  19. NovPriceRegained the 2021-02 peak, 30 months after the low.
  20. OctPriceVolume reached 42.0x its 50-day median on 2023-10-16; price +4.8% that day.
  21. SepPriceVolume reached 13.0x its 50-day median on 2023-09-05; price +2.3% that day.
  22. JunResultsYear-on-year EPS growth turned negative.

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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1118.3x₹1967 cr8.4%11.0%1.6x
2026-1017.4x₹1967 cr8.4%11.0%1.6x
2026-0918.1x₹1967 cr8.4%11.0%1.6x
2026-0816.2x₹1877 cr7.9%11.0%1.6x
2026-0716.6x₹1877 cr7.9%11.0%1.6x
2026-0614.4x₹1877 cr7.9%11.0%1.6x
2026-0515.2x₹1781 cr7.1%15.0%1.4x
2026-0416.7x₹1781 cr7.1%15.0%1.4x
2026-0313.7x₹1781 cr7.1%15.0%1.4x
2026-0216.5x₹1741 cr8.1%15.0%1.4x
2026-0116.4x₹1741 cr8.1%15.0%1.4x
2025-1219.5x₹1741 cr8.1%15.0%1.4x
2025-1110.6x₹1752 cr10.2%15.0%1.4x
2025-1011.5x₹1752 cr10.2%15.0%1.4x
2025-0912.0x₹1752 cr10.2%15.0%1.4x
2025-089.4x₹1775 cr12.1%15.0%1.4x
2025-0710.2x₹1775 cr12.1%15.0%1.4x
2025-0611.2x₹1775 cr12.1%15.0%1.4x
2025-055.9x₹1863 cr19.1%18.0%1.3x
2025-045.5x₹1863 cr19.1%18.0%1.3x
2025-035.3x₹1863 cr19.1%18.0%1.3x
2025-025.6x₹1836 cr19.8%18.0%1.3x
2025-016.1x₹1836 cr19.8%18.0%1.3x
2024-126.6x₹1836 cr19.8%18.0%1.3x
2024-117.6x₹1774 cr19.3%18.0%1.3x
2024-107.0x₹1774 cr19.3%18.0%1.3x
2024-097.8x₹1774 cr19.3%18.0%1.3x
2024-088.2x₹1642 cr17.2%18.0%1.3x
2024-078.5x₹1642 cr17.2%18.0%1.3x
2024-069.0x₹1642 cr17.2%18.0%1.3x
2024-0514.0x₹1212 cr12.9%15.0%1.0x
2024-0414.0x₹1212 cr12.9%15.0%1.0x
2024-0310.9x₹1212 cr12.9%15.0%1.0x
2024-0211.4x₹1212 cr12.9%15.0%1.0x
2024-019.6x₹1212 cr12.9%15.0%1.0x
2023-128.8x₹1212 cr12.9%15.0%1.0x
2023-118.9x₹1212 cr12.9%15.0%1.0x
2023-107.6x₹1212 cr12.9%15.0%1.0x
2023-096.8x₹1212 cr12.9%15.0%1.0x
2023-086.7x₹1212 cr12.9%15.0%1.0x
2023-076.4x₹1212 cr12.9%15.0%1.0x
2023-066.6x₹1212 cr12.9%15.0%1.0x
2023-054.8x₹1118 cr18.9%21.0%0.5x
2023-044.9x₹1118 cr18.9%21.0%0.5x
2023-034.6x₹1118 cr18.9%21.0%0.5x
2023-024.9x₹1118 cr18.9%21.0%0.5x
2023-015.0x₹1118 cr18.9%21.0%0.5x
2022-125.0x₹1118 cr18.9%21.0%0.5x
2022-115.2x₹1118 cr18.9%21.0%0.5x
2022-105.2x₹1118 cr18.9%21.0%0.5x
2022-095.1x₹1118 cr18.9%21.0%0.5x
2022-085.7x₹1118 cr18.9%21.0%0.5x
2022-075.7x₹1118 cr18.9%21.0%0.5x
2022-066.0x₹1118 cr18.9%21.0%0.5x
2022-059.6x₹902 cr13.6%17.0%0.6x
2022-048.8x₹902 cr13.6%17.0%0.6x
2022-038.4x₹902 cr13.6%17.0%0.6x
2022-027.9x₹902 cr13.6%17.0%0.6x
2022-019.1x₹902 cr13.6%17.0%0.6x
2021-128.2x₹902 cr13.6%17.0%0.6x

Older months are in the live observatory.

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.

Feedback