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SONATA SOFTWARE LIMITED (SONATSOFTW)

Technology Services · Information Technology Services · figures to Nov '26

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.47 / 100
Profitability 53Growth 42Balance sheet 45
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.30 / 100
Price 14Earnings 56FII/DII 20

Passes these screensCash RichQuality CompounderDebt-light & profitable

Compare withTATA CONSULTANCY SERVICESINFOSYSHCL TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹256.07 latest close · −7.9% over the last 90 sessions

₹250₹300₹350Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹250₹300₹350Jul 3Sep 4Nov 9

₹256.07 month-end · −28.4% over 12 months

₹200₹250₹300₹350Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹250₹300₹350Nov '25May '26Nov '26

₹256.07 month-end · −62.3% over 3 years

₹200₹400₹600₹800Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹400₹600₹800Nov '23May '25Nov '26

₹256.07 month-end · +112.7% since Jan '19

₹0₹250₹500₹750Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹250₹500₹750Jan '19Dec '22Nov '26

52-week range ₹207.15 to ₹400.50 · 1-year volatility 46.1%

Was the rally earned?

-28%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 7 points, but investors now pay less per rupee of profit (P/E 23.4x to 15.5x), which took 35 points back.
  • The share count barely moved.
Net profit growth: +7 pts. Points of the price return explained by net profit growing (or shrinking).+7 ptsNet profit growthP/E change: −35 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−35 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −28%−28%Share priceNet profit growth: +7 pts. Points of the price return explained by net profit growing (or shrinking).+7ProfitP/E change: −35 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−35P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −28%−28%Share price
Net profit growth+7 ptsNet profit rose about 8%, which lifts the price.
P/E change-35 ptsThe P/E fell from 23.4x to 15.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-62%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 2 points, but investors now pay less per rupee of profit (P/E 42.2x to 15.5x), which took 64 points back.
  • The share count barely moved.
Net profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2 ptsNet profit growthP/E change: −64 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−64 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −62%−62%Share priceNet profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2ProfitP/E change: −64 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−64P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −62%−62%Share price
Net profit growth+2 ptsNet profit rose about 2%, which lifts the price.
P/E change-64 ptsThe P/E fell from 42.2x to 15.5x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-25%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 56 points, but investors now pay less per rupee of profit (P/E 39.4x to 15.5x), which took 81 points back.
  • The share count barely moved.
Net profit growth: +56 pts. Points of the price return explained by net profit growing (or shrinking).+56 ptsNet profit growthP/E change: −81 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−81 ptsP/E changeShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0 ptsShare count changeShare price: −25%−25%Share priceNet profit growth: +56 pts. Points of the price return explained by net profit growing (or shrinking).+56ProfitP/E change: −81 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−81P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −25%−25%Share price
Net profit growth+56 ptsNet profit rose about 90%, which lifts the price.
P/E change-81 ptsThe P/E fell from 39.4x to 15.5x, 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.

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

Compare this with TATA CONSULTANCY SERVICES

How rough has the ride been?

Maximum drawdown-75.6%not yet recovered
1-year volatility46.1%annualised
Beta vs sector index1.153-year daily, correlation 0.49
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−74.5% 0%−25%−50%−75%2020202220242026−74.5%
Largest drawdowns

-75.6% (2024-02 peak to 2026-03 low, not yet recovered)

-55.9% (2019-07 peak to 2020-03 low, recovered 2020-10)

-35.4% (2021-10 peak to 2022-06 low, recovered 2023-02)

Most recent volume spikes

2026-10-16: 5.9x the 50-day median, price +1.2% that day

2026-09-15: 6.2x the 50-day median, price +5.8% that day

2026-08-03: 7.5x the 50-day median, price +7.3% 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?

15.5xP/E todayWithin its usual range
Against its own history24th percentile
CheapestMedian 22.7xDearest

Usual range 13.0x to 47.0x since 2019-01.

Against Technology Services15.5x vs 21.1x
This company
15.5x
Sector median
21.1x

26% below the Technology Services median.

6.9x26.9x47.0x67.0xJan '19Aug '20Mar '22Oct '23May '25Nov '266.9x26.9x47.0x67.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

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P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services 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 Technology Services is valued

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE85th▲ 8 pts vs a year ago
  • Op. margin22ndflat vs a year ago
  • Revenue growth30th▼ 30 pts vs a year ago
  • EPS growth50th▼ 31 pts vs a year ago
  • Debt/equity ↓24th▲ 4 pts vs a year ago
  • Cash cycle ↓94thflat vs a year ago
  • P/E ↓69th▲ 6 pts vs a year ago
  • 12M momentum39th▲ 21 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~11%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 17.7x, a holder earning 12%/yr needs earnings to grow about 10.6%/yr for 10 years, then trade at 15x.

Delivered10.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+0.2 ptsimplied minus delivered
Rank523rdmost demanding of 856

Over time

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

-2%13%28% Jan 2019Nov 2026 -2%13%28% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x11.7%12.7%13.7%
15x9.6%10.6%11.6%
20x6.9%7.9%8.8%

Drag a slider to test other assumptions

Implied: 10.6%/yr

Looking back

  • Jan 2020Price implied 7%/yr; EPS has since grown 9%/yr (7.0 yrs)
  • Jan 2021Price implied 7%/yr; EPS has since grown 9%/yr (6.0 yrs)
  • Jan 2022Price implied 19%/yr; EPS has since grown 14%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹256.07
P/E
15.5x
ROCE
31.0%
Market Cap
₹7171 cr
Revenue (TTM)
₹11015 cr
P/S
0.7x
P/B
3.8x
ROE
24.3%
Operating Margin
5.0%
Debt / Equity
0.4x
Promoter Holding
28.2%
12M Momentum
-28.3%

52-week range

₹207.15₹400.50
25% of the way from its 52-week low to its high

Price risk

1Y volatility
46.1%
Beta vs sector
1-year daily
1.29

Balance sheet & cash

Interest cover
operating profit ÷ interest
11.6x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.22x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance4%Within range

Other income as a share of pre-tax profit (trailing twelve months): 3.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 25.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.22xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.22x (cash from operations ₹1,463 cr, net profit ₹1,197 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (63 vs 63). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress4% of fixed assetsWithin range

Capital work-in-progress is 4% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-5 days / 2 yrsWithin range

Days payable changed by -5 over two years. Bands: rise of up to 30 days; more than 30 days.

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, DIIs added 8.3 pts; FIIs trimmed 5.8 pts.
  • The number of shareholders rose from 1.1 lakh to 2.0 lakh (+80%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters28.2%28.2%0.0 pts
FIIs15.0%9.2%-5.8 pts
DIIs16.4%24.7%+8.3 pts
Public and others39.4%36.7%-2.7 pts

Number of shareholders

2.0 lakhshareholders+80% since Sep '23
1.1L1.4L1.8L2.1L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 1.1 lakh
Dec '23: 1.6 lakh
Mar '24: 1.4 lakh
Jun '24: 1.7 lakh
Sep '24: 1.7 lakh
Dec '24: 1.7 lakh
Mar '25: 1.7 lakh
Jun '25: 2.1 lakh
Sep '25: 2.1 lakh
Dec '25: 2.0 lakh
Mar '26: 2.0 lakh
Jun '26: 2.0 lakh
 1.1L1.4L1.8L2.1L Sep '23Sep '24Sep '25Jun '26
Sep '23: 1.1 lakh
Dec '23: 1.6 lakh
Mar '24: 1.4 lakh
Jun '24: 1.7 lakh
Sep '24: 1.7 lakh
Dec '24: 1.7 lakh
Mar '25: 1.7 lakh
Jun '25: 2.1 lakh
Sep '25: 2.1 lakh
Dec '25: 2.0 lakh
Mar '26: 2.0 lakh
Jun '26: 2.0 lakh

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

−10.3%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like SONATA SOFTWARE 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 −27% to +23% vs the market, against 0% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −10.6%, 80% range −14.9% to −3.0%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
JAIBALAJI · Jun 2025: −48.2% vs market
LUMAXIND · Jan 2021: −40.4% vs market
GLOBUSSPR · Apr 2023: −39.4% vs market
NCC · Jun 2025: −35.8% vs market
RUPA · Jun 2022: −35.3% vs market
PUNJABCHEM · Jan 2024: −34.1% vs market
THOMASCOOK · Jun 2025: −34.0% vs market
COSMOFIRST · Sep 2022: −32.2% vs market
HERITGFOOD · Nov 2021: −31.7% vs market
LUXIND · May 2023: −31.6% vs market
BBTC · Feb 2021: −31.2% vs market
LINC · Sep 2025: −28.1% vs market
BIRLANU · Jun 2022: −27.3% vs market
GAEL · Aug 2023: −26.1% vs market
IRCON · Mar 2025: −24.3% vs market
INDIANHUME · Mar 2020: −20.3% vs market
JTLIND · Mar 2024: −20.0% vs market
SURYAROSNI · Apr 2024: −19.9% vs market
CHAMBLFERT · Oct 2022: −19.5% vs market
AARTIDRUGS · Mar 2023: −13.5% vs market
SSWL · Apr 2024: −13.4% vs market
GSPL · Dec 2021: −13.1% vs market
PDSL · Mar 2024: −11.1% vs market
GVT&D · Apr 2021: −10.9% vs market
DOLLAR · Nov 2022: −10.9% vs market
APEX · May 2021: −9.8% vs market
VENKEYS · Feb 2020: −4.7% vs market
DCMSHRIRAM · Nov 2022: −3.8% vs market
APARINDS · Jun 2020: −1.8% vs market
EIDPARRY · May 2023: −1.3% vs market
HUHTAMAKI · Sep 2025: +0.8% vs market
NRBBEARING · May 2020: +1.5% vs market
TCI · Dec 2022: +4.7% vs market
AHLUCONT · May 2020: +5.2% vs market
ISGEC · May 2022: +10.2% vs market
KSL · Apr 2025: +14.0% vs market
SANSTAR · Jul 2025: +17.8% vs market
PCBL · Nov 2021: +24.4% vs market
KIRLOSBROS · Apr 2022: +32.8% vs market
HCC · Dec 2020: +36.3% vs market
JKLAKSHMI · Jun 2022: +42.4% vs market
HGINFRA · Oct 2022: +43.5% vs market
STOVEKRAFT · Mar 2024: +62.1% vs market
HINDWAREAP · Aug 2022: +64.5% vs market
ORIENTCEM · Jan 2023: +65.0% vs market
ICIL · Feb 2023: +76.1% vs market
TIRUMALCHM · May 2020: +92.3% vs market
SHAKTIPUMP · Jan 2023: +142.7% vs market
HFCL · Aug 2020: +177.7% vs market
REFEX · Jun 2024: +187.7% vs market
Similar setups −10.3%All companies +0.3%← 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
−10.3%
All companies' median
+0.3%
Beat the market
40% vs 50%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JAIBALAJI
Non-Energy Minerals		 Jun 2025 21x36% −25%−44% −48%
SANSTAR
Process Industries		 Jul 2025 19x29% −24%−41% +18%
VENKEYS
Process Industries		 Feb 2020 10x28% −41%−47% −5%
GVT&D
Producer Manufacturing		 Apr 2021 15x— +35%−20% −11%
PUNJABCHEM
Process Industries		 Jan 2024 23x31% +20%−14% −34%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
HFCL
Electronic Technology		 Aug 2020 9x21% −18%−23% +178%
DCMSHRIRAM
Process Industries		 Nov 2022 13x24% −9%−28% −4%
SURYAROSNI
Non-Energy Minerals		 Apr 2024 20x23% +58%−24% −20%
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, 12-month momentum 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 SONATA SOFTWARE 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.

REDINGTONREDINGTON
Distribution Services
65%similar
P/Evolatility
PONDY OXIDES N CHEMICALS LIMITPOCL
Non-Energy Minerals
59%similar
operating marginpromoter holding
NCCNCC
Consumer Durables
54%similar
promoter holdingmarket cap
LT FOODSLTFOODS
Process Industries
52%similar
revenuedebt/equity
L G BALKRISHNAN & BROSLGBBROSLTD
Producer Manufacturing
50%similar
revenue growthP/E
KPIT TECHNOLOGIESKPITTECH
Technology Services
52%similar
ROCErevenue
MASTEKMASTEK
Technology Services
52%similar
revenue growthpromoter holding
TANLA PLATFORMSTANLA
Technology Services
47%similar
P/Emarket cap

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

What changed?

30 events since Oct '23

  1. OctPriceVolume reached 5.9x its 50-day median on 2026-10-16; price +1.2% that day.
  2. SepResultsRevenue (TTM) reached a new high of ₹11,015 cr.
  3. SepPeer rankSlipped to the bottom quartile of Technology Services on operating margin (from the 3rd quartile).
  4. JulPriceVolume reached 40.3x its 50-day median on 2026-07-13; price +10.8% that day.
  5. JunPeer rankMoved into the 3rd quartile of Technology Services on operating margin (from the bottom quartile).
  6. JunPriceVolume reached 45.0x its 50-day median on 2026-06-16; price +19.6% that day.
  7. MarResultsRevenue (TTM) reached a new high of ₹10,782 cr.
  8. MarPriceFell 76% from the Feb 2024 peak to the Mar 2026 low.
Show 22 earlier events
  1. MarPeer rankSlipped to the bottom quartile of Technology Services on operating margin (from the 3rd quartile).
  2. MarPriceVolume reached 10.6x its 50-day median on 2026-03-09; price +0.2% that day.
  3. DecPeer rankMoved into the 3rd quartile of Technology Services on operating margin (from the bottom quartile).
  4. DecPriceVolume reached 12.6x its 50-day median on 2025-12-03; price +4.1% that day.
  5. SepPeer rankSlipped to the bottom quartile of Technology Services on operating margin (from the 3rd quartile).
  6. AugPriceVolume reached 52.4x its 50-day median on 2025-08-12; price +13.3% that day.
  7. JunResultsYear-on-year EPS growth turned positive.
  8. JunPeer rankMoved into the 3rd quartile of Technology Services on operating margin (from the bottom quartile).
  9. JunDividendDividend payout cut from 103% to 29% of profit.
  10. MayPriceVolume reached 71.7x its 50-day median on 2025-05-02; price -0.2% that day.
  11. MarPeer rankMoved into the 3rd quartile of Technology Services on EPS growth (from the bottom quartile).
  12. FebPriceVolume reached 36.5x its 50-day median on 2025-02-07; price -11.3% that day.
  13. NovPriceVolume reached 7.6x its 50-day median on 2024-11-26; price +8.2% that day.
  14. SepPeer rankSlipped to the bottom quartile of Technology Services on operating margin (from the 3rd quartile).
  15. JulPriceVolume reached 14.6x its 50-day median on 2024-07-12; price +13.8% that day.
  16. JunResultsYear-on-year EPS growth turned negative.
  17. JunValuationP/E crossed above the 90th percentile of its own history to date (53.9x).
  18. JunPeer rankSlipped to the bottom quartile of Technology Services on EPS growth (from the 2nd quartile).
  19. MayPriceVolume reached 18.7x its 50-day median on 2024-05-08; price -15.4% that day.
  20. JanPriceVolume reached 5.4x its 50-day median on 2024-01-12; price +6.4% that day.
  21. OctValuationP/E crossed above the 90th percentile of its own history to date (35.8x).
  22. OctPriceVolume reached 10.3x its 50-day median on 2023-10-26; price +8.2% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1115.5x₹11015 cr24.3%31.0%0.4x
2026-1013.5x₹11015 cr24.3%31.0%0.4x
2026-0915.6x₹11015 cr24.3%31.0%0.4x
2026-0817.6x₹10701 cr24.3%31.0%0.4x
2026-0719.5x₹10701 cr24.3%31.0%0.4x
2026-0616.2x₹10701 cr24.3%31.0%0.4x
2026-0516.8x₹10782 cr25.8%29.0%0.3x
2026-0416.2x₹10782 cr25.8%29.0%0.3x
2026-0313.3x₹10782 cr25.8%29.0%0.3x
2026-0217.0x₹10544 cr25.9%29.0%0.3x
2026-0120.1x₹10544 cr25.9%29.0%0.3x
2025-1222.8x₹10544 cr25.9%29.0%0.3x
2025-1123.4x₹10595 cr25.1%29.0%0.3x
2025-1024.2x₹10595 cr25.1%29.0%0.3x
2025-0922.7x₹10595 cr25.1%29.0%0.3x
2025-0823.2x₹10157 cr24.9%29.0%0.3x
2025-0725.9x₹10157 cr24.9%29.0%0.3x
2025-0627.1x₹10157 cr24.9%29.0%0.3x
2025-0526.8x₹9732 cr30.3%36.0%0.5x
2025-0427.6x₹9732 cr30.3%36.0%0.5x
2025-0322.7x₹9732 cr30.3%36.0%0.5x
2025-0236.6x₹9382 cr19.6%36.0%0.5x
2025-0153.7x₹9382 cr19.6%36.0%0.5x
2024-1260.8x₹9382 cr19.6%36.0%0.5x
2024-1159.7x₹9125 cr20.9%36.0%0.5x
2024-1058.3x₹9125 cr20.9%36.0%0.5x
2024-0960.2x₹9125 cr20.9%36.0%0.5x
2024-0860.5x₹8614 cr21.9%36.0%0.5x
2024-0767.0x₹8614 cr21.9%36.0%0.5x
2024-0653.9x₹8614 cr21.9%36.0%0.5x
2024-0532.0x₹7449 cr34.7%39.0%0.5x
2024-0442.9x₹7449 cr34.7%39.0%0.5x
2024-0344.8x₹7449 cr34.7%39.0%0.5x
2024-0250.3x₹7449 cr34.7%39.0%0.5x
2024-0147.6x₹7449 cr34.7%39.0%0.5x
2023-1246.1x₹7449 cr34.7%39.0%0.5x
2023-1142.2x₹7449 cr34.7%39.0%0.5x
2023-1035.8x₹7449 cr34.7%39.0%0.5x
2023-0932.8x₹7449 cr34.7%39.0%0.5x
2023-0832.4x₹7449 cr34.7%39.0%0.5x
2023-0732.8x₹7449 cr34.7%39.0%0.5x
2023-0631.3x₹7449 cr34.7%39.0%0.5x
2023-0536.2x₹5553 cr34.2%44.0%0.1x
2023-0431.8x₹5553 cr34.2%44.0%0.1x
2023-0331.2x₹5553 cr34.2%44.0%0.1x
2023-0227.1x₹5553 cr34.2%44.0%0.1x
2023-0122.6x₹5553 cr34.2%44.0%0.1x
2022-1221.0x₹5553 cr34.2%44.0%0.1x
2022-1121.8x₹5553 cr34.2%44.0%0.1x
2022-1019.5x₹5553 cr34.2%44.0%0.1x
2022-0919.2x₹5553 cr34.2%44.0%0.1x
2022-0819.9x₹5553 cr34.2%44.0%0.1x
2022-0719.7x₹5553 cr34.2%44.0%0.1x
2022-0618.7x₹5553 cr34.2%44.0%0.1x
2022-0529.5x₹4228 cr27.0%39.0%0.2x
2022-0432.4x₹4228 cr27.0%39.0%0.2x
2022-0331.9x₹4228 cr27.0%39.0%0.2x
2022-0231.7x₹4228 cr27.0%39.0%0.2x
2022-0135.0x₹4228 cr27.0%39.0%0.2x
2021-1237.7x₹4228 cr27.0%39.0%0.2x

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.

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