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STEELCAST LTD (STEELCAS)

Non-Energy Minerals · Steel · 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.76 / 100
Profitability 94Growth 35Balance sheet 100
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.72 / 100
Price 85Earnings 47FII/DII 86

Passes these screensQuality CompounderHigh MomentumDebt-light & profitableNear 52-week high

Compare withJSW STEELTATA STEELJINDAL STEEL

Share price

Closing priceAdjusted for splits and bonus issues.

₹374.9 latest close · +20.7% over the last 90 sessions

₹300₹325₹350₹375Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹300₹325₹350₹375Jul 3Sep 4Nov 9

₹374.9 month-end · +70.3% over 12 months

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

₹374.9 month-end · +201.4% over 3 years

₹100₹200₹300₹400Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹100₹200₹300₹400Nov '23May '25Nov '26

₹374.9 month-end · +538.7% since Nov '21

₹100₹200₹300₹400Nov '21Nov '22Nov '23Nov '24Nov '25Nov '26 ₹100₹200₹300₹400Nov '21May '24Nov '26

52-week range ₹176.02 to ₹390.90 · 1-year volatility 44.7%

Was the rally earned?

+70%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 28.2x to 41.9x); per-share earnings added 18 points.
  • The share count barely moved.
Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsNet profit growthP/E change: +52 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+52 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: +70%+70%Share priceNet profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18ProfitP/E change: +52 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+52P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +70%+70%Share price
Net profit growth+18 ptsNet profit rose about 15%, which lifts the price.
P/E change+52 ptsThe P/E rose from 28.2x to 41.9x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+201%share price, 3 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 17.8x to 41.9x); per-share earnings added 46 points.
  • The share count barely moved.
Net profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45 ptsNet profit growthP/E change: +156 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+156 ptsP/E changeShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1 ptsShare count changeShare price: +201%+201%Share priceNet profit growth: +45 pts. Points of the price return explained by net profit growing (or shrinking).+45ProfitP/E change: +156 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+156P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +201%+201%Share price
Net profit growth+45 ptsNet profit rose about 28%, which lifts the price.
P/E change+156 ptsThe P/E rose from 17.8x to 41.9x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+539%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 586 points, but investors now pay less per rupee of profit (P/E 49.3x to 41.9x), which took 47 points back.
  • The share count barely moved.
Net profit growth: +587 pts. Points of the price return explained by net profit growing (or shrinking).+587 ptsNet profit growthP/E change: −47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−47 ptsP/E changeShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1 ptsShare count changeShare price: +539%+539%Share priceNet profit growth: +587 pts. Points of the price return explained by net profit growing (or shrinking).+587ProfitP/E change: −47 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−47P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +539%+539%Share price
Net profit growth+587 ptsNet profit rose about 655%, which lifts the price.
P/E change-47 ptsThe P/E fell from 49.3x to 41.9x, which lowers the price.
Share count change-1 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 JSW STEEL

How rough has the ride been?

Maximum drawdown-26.9%recovered 2026-04
1-year volatility44.7%annualised
Beta vs sector index0.633-year daily, correlation 0.30
Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−10%−20%2023202420252026−26.5% 0%−10%−20%20242026−26.5%
Largest drawdowns

-26.9% (2025-07 peak to 2026-01 low, recovered 2026-04)

-26.8% (2025-03 peak to 2025-04 low, recovered 2025-06)

-24.4% (2022-04 peak to 2022-05 low, recovered 2022-07)

Most recent volume spikes

2026-09-25: 13.8x the 50-day median, price +5.2% that day

2026-09-22: 19.2x the 50-day median, price +10.3% that day

2026-08-13: 9.4x the 50-day median, price +7.4% 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?

41.9xP/E todayNear its historic high
Against its own history87th percentile
CheapestMedian 27.3xDearest

Usual range 18.1x to 47.1x since 2021-11.

Against Non-Energy Minerals41.9x vs 21.8x
This company
41.9x
Sector median
21.8x

92% above the Non-Energy Minerals median.

13.6x29.2x44.9x60.5xNov '21Nov '22Nov '23Nov '24Nov '25Nov '2613.6x29.2x44.9x60.5xNov '21Jul '23Mar '25Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

  • ROCE97thflat vs a year ago
  • Op. margin91stflat vs a year ago
  • Revenue growth52nd▼ 17 pts vs a year ago
  • EPS growth58th▼ 16 pts vs a year ago
  • Debt/equity ↓99thflat vs a year ago
  • Cash cycle ↓26thflat vs a year ago
  • P/E ↓24th▼ 21 pts vs a year ago
  • 12M momentum95thflat 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~27%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 56.4x, a holder earning 12%/yr needs earnings to grow about 26.9%/yr for 10 years, then trade at 15x.

Delivered25.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+1.8 ptsimplied minus delivered
Rank495thmost demanding of 856

Over time

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

0%19%37% Nov 2021Nov 2026 0%19%37% Nov 2021Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x28.4%29.6%30.7%
15x25.7%26.9%28.0%
20x22.3%23.4%24.5%

Drag a slider to test other assumptions

Implied: 26.9%/yr

Looking back

  • Jan 2022Price implied 24%/yr; EPS has since grown 49%/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 Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹374.90
P/E
41.9x
ROCE
32.0%
Market Cap
₹3794 cr
Revenue (TTM)
₹441 cr
P/S
8.6x
P/B
9.6x
ROE
22.9%
Operating Margin
26.0%
Debt / Equity
0.0x
Promoter Holding
45.0%
12M Momentum
70.3%

52-week range

₹176.02₹390.90
93% of the way from its 52-week low to its high

Price risk

1Y volatility
44.7%
Beta vs sector
1-year daily
0.65

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
1.04x
Share count, 1Y
unchanged

Are profits backed by cash?

7 of 7checks within rangeAll clear
Other income reliance13%Within range

Other income as a share of pre-tax profit (trailing twelve months): 13.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.04xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.04x (cash from operations ₹243 cr, net profit ₹234 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+10 daysWithin range

Debtor days are above the median of the previous three fiscal years by 10 days (93 vs 83). 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+18 days / 2 yrsWithin range

Days payable changed by +18 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 2.5 pts.
  • The number of shareholders rose from 8,806 to 16,225 (+84%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters45.0%45.0%0.0 pts
FIIs0.4%0.3%-0.1 pts
DIIs0.1%2.5%+2.5 pts
Public and others54.6%52.2%-2.4 pts

Number of shareholders

16,225shareholders+84% since Sep '23
9k11k14k16k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 8,806
Dec '23: 13,126
Mar '24: 13,064
Jun '24: 12,570
Sep '24: 13,138
Dec '24: 12,262
Mar '25: 12,209
Jun '25: 12,411
Sep '25: 15,754
Dec '25: 15,950
Mar '26: 14,580
Jun '26: 16,225
 9k11k14k16k Sep '23Sep '24Sep '25Jun '26
Sep '23: 8,806
Dec '23: 13,126
Mar '24: 13,064
Jun '24: 12,570
Sep '24: 13,138
Dec '24: 12,262
Mar '25: 12,209
Jun '25: 12,411
Sep '25: 15,754
Dec '25: 15,950
Mar '26: 14,580
Jun '26: 16,225

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

−6.1%typical 12-month return vs the marketBelow the base rate
  • We found 50 past situations where a non-financial company looked like STEELCAST LTD today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −26% to +14% vs the market, against −1% for all non-financial companies in the same months.
  • The analogs' median sat below that base rate (gap −4.9%, 80% range −14.2% to −2.3%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
NUCLEUS · Sep 2020: −46.8% vs market
MPSLTD · Feb 2025: −46.1% vs market
NEWGEN · Jun 2021: −43.9% vs market
GRSE · Jun 2020: −41.9% vs market
NESCO · Mar 2020: −40.2% vs market
WENDT · Sep 2023: −31.9% vs market
ESCORTS · Sep 2020: −31.4% vs market
AEROFLEX · Jan 2025: −30.8% vs market
VOLTAMP · Mar 2024: −28.8% vs market
GILLETTE · Jun 2025: −28.3% vs market
ADVENZYMES · Sep 2020: −28.1% vs market
GLAXO · Apr 2025: −26.1% vs market
LAOPALA · Feb 2020: −25.8% vs market
SUMICHEM · Jul 2025: −25.3% vs market
RHIM · Dec 2022: −24.5% vs market
SAREGAMA · Nov 2021: −18.3% vs market
LIKHITHA · Apr 2023: −16.8% vs market
BEPL · Dec 2020: −15.4% vs market
SHANTIGEAR · Jun 2023: −14.5% vs market
KENNAMET · Sep 2022: −14.3% vs market
AMRUTANJAN · Feb 2020: −13.2% vs market
OFSS · Mar 2024: −11.2% vs market
GRINDWELL · Dec 2021: −10.3% vs market
NAVINFLUOR · Oct 2020: −6.7% vs market
DHANUKA · May 2020: −6.5% vs market
GANDHITUBE · Jan 2023: −5.6% vs market
PGHL · Mar 2020: −5.0% vs market
ELECON · Aug 2023: −4.4% vs market
ESABINDIA · Jan 2020: −4.0% vs market
TI · Oct 2025: −3.8% vs market
DATAPATTNS · Jan 2023: −1.6% vs market
TRITURBINE · Apr 2023: −0.4% vs market
THYROCARE · Mar 2020: +1.1% vs market
VESUVIUS · May 2024: +2.9% vs market
LALPATHLAB · Jan 2020: +6.6% vs market
TDPOWERSYS · Aug 2023: +9.4% vs market
TIPSMUSIC · Oct 2021: +10.4% vs market
CUPID · Dec 2023: +15.1% vs market
SUPRIYA · Oct 2025: +15.3% vs market
VIMTALABS · Dec 2024: +15.3% vs market
ACE · Oct 2023: +16.1% vs market
BDL · Mar 2023: +19.3% vs market
KFINTECH · Jul 2024: +31.5% vs market
KSB · Apr 2023: +35.7% vs market
FCL · Mar 2022: +35.9% vs market
INGERRAND · Aug 2022: +48.6% vs market
SJS · Sep 2025: +54.6% vs market
ADFFOODS · May 2020: +109.5% vs market
TATAELXSI · Sep 2020: +165.6% vs market
JSLL · Aug 2024: +172.5% vs market
Similar setups −6.1%All companies −1.2%← 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
−6.1%
All companies' median
−1.2%
Beat the market
36% vs 49%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
VOLTAMP
Producer Manufacturing		 Mar 2024 49x25% +259%0% −29%
AEROFLEX
Producer Manufacturing		 Jan 2025 69x26% +58%−2% −31%
SHANTIGEAR
Producer Manufacturing		 Jun 2023 54x32% +117%−1% −15%
WENDT
Producer Manufacturing		 Sep 2023 73x29% +97%−2% −32%
KENNAMET
Producer Manufacturing		 Sep 2022 52x25% +99%−4% −14%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SAREGAMA
Consumer Services		 Nov 2021 62x34% +446%−8% −18%
TDPOWERSYS
Producer Manufacturing		 Aug 2023 43x22% +125%0% +9%
SUPRIYA
Health Technology		 Oct 2025 35x27% +25%−4% +15%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, P/E and drawdown from 12-month high. Not used (unavailable for this company): interest cover. 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 STEELCAST LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

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

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

What is compared

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

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

How closeness and the sample are defined

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

Base rate

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

Limits you should know

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

Does it work? A walk-forward check

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

Disclaimer

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

What else looks like this?

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

VIMTA LABSVIMTALABS
Commercial Services
74%similar
volatilityEPS growth
NINtec SYSTEMSNINSYS
Technology Services
71%similar
operating marginvolatility
ROLEX RINGSROLEXRINGS
Producer Manufacturing
66%similar
debt/equityrevenue growth
ACCENT MICROCELLACCENTMIC
Health Technology
61%similar
volatilityrevenue
MOLD-TEK PACKAGINGMOLDTKPAC
Producer Manufacturing
61%similar
revenue growthrevenue
MOILMOIL
Non-Energy Minerals
52%similar
debt/equityoperating margin
SHIVALIK BIMETAL CONTROLSSBCL
Non-Energy Minerals
51%similar
EPS growthoperating margin
STYLAM INDUSTRIESSTYLAMIND
Non-Energy Minerals
50%similar
ROCEmarket cap

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

What changed?

30 events since Jun '22

  1. SepPriceVolume reached 19.2x its 50-day median on 2026-09-22; price +10.3% that day.
  2. JunPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  3. JunPriceVolume reached 123.5x its 50-day median on 2026-06-24; price +2.7% that day.
  4. AprPriceRegained the 2025-07 peak, 3 months after the low.
  5. FebPriceVolume reached 14.6x its 50-day median on 2026-02-03; price +13.8% that day.
  6. JanPriceFell 27% from the Jul 2025 peak to the Jan 2026 low.
  7. DecPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  8. SepResultsYear-on-year EPS growth turned positive.
Show 22 earlier events
  1. SepPeer rankMoved into the 2nd quartile of Non-Energy Minerals on EPS growth (from the 3rd quartile).
  2. SepPriceVolume reached 28.5x its 50-day median on 2025-09-16; price +8.0% that day.
  3. JunPriceRegained the 2025-03 peak, 2 months after the low.
  4. AprPriceFell 27% from the Mar 2025 peak to the Apr 2025 low.
  5. AprPriceVolume reached 11.1x its 50-day median on 2025-04-11; price +14.8% that day.
  6. JanPriceVolume reached 8.6x its 50-day median on 2025-01-29; price +11.3% that day.
  7. DecPriceVolume reached 6.1x its 50-day median on 2024-12-09; price +8.7% that day.
  8. SepResultsYear-on-year EPS growth turned negative.
  9. SepPriceVolume reached 20.8x its 50-day median on 2024-09-05; price +7.5% that day.
  10. JunValuationP/E fell below the 10th percentile of its own history to date (17.5x).
  11. JunPeer rankSlipped to the 3rd quartile of Non-Energy Minerals on EPS growth (from the top quartile).
  12. JanDebtDebt / equity halved over 12 months to 0.11x.
  13. DecPriceVolume reached 28.2x its 50-day median on 2023-12-11; price +5.8% that day.
  14. NovValuationP/E fell below the 10th percentile of its own history to date (17.8x).
  15. AugPriceVolume reached 14.3x its 50-day median on 2023-08-07; price -0.2% that day.
  16. JunResultsRevenue (TTM) reached a new high of ₹477 cr.
  17. JunDebtDebt / equity halved over 12 months to 0.11x.
  18. JunPriceVolume reached 15.0x its 50-day median on 2023-06-08; price -0.1% that day.
  19. JanPriceVolume reached 7.1x its 50-day median on 2023-01-24; price +1.6% that day.
  20. DecPriceVolume reached 26.8x its 50-day median on 2022-12-12; price +7.3% that day.
  21. AugPriceVolume reached 38.8x its 50-day median on 2022-08-05; price +6.1% that day.
  22. JunPeer rankMoved into the top quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).

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 history61 months · 2021-11 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1141.9x₹441 cr22.9%32.0%0.0x
2026-1038.9x₹441 cr23.0%32.0%0.0x
2026-0942.1x₹441 cr23.0%32.0%0.0x
2026-0840.8x₹423 cr22.0%32.0%0.0x
2026-0736.2x₹423 cr22.0%32.0%0.0x
2026-0635.4x₹423 cr22.0%32.0%0.0x
2026-0531.7x₹431 cr27.9%33.0%0.0x
2026-0432.4x₹431 cr27.9%33.0%0.0x
2026-0325.3x₹431 cr27.9%33.0%0.0x
2026-0226.6x₹436 cr27.3%33.0%0.0x
2026-0121.0x₹436 cr27.3%33.0%0.0x
2025-1223.9x₹436 cr27.3%33.0%0.0x
2025-1128.2x₹404 cr24.2%33.0%0.0x
2025-1028.8x₹404 cr24.2%33.0%0.0x
2025-0927.3x₹404 cr24.2%33.0%0.0x
2025-0829.4x₹374 cr22.1%33.0%0.0x
2025-0731.8x₹374 cr22.1%33.0%0.0x
2025-0632.5x₹374 cr22.1%33.0%0.0x
2025-0532.5x₹352 cr23.7%40.0%0.0x
2025-0427.2x₹352 cr23.7%40.0%0.0x
2025-0331.6x₹352 cr23.7%40.0%0.0x
2025-0226.5x₹340 cr23.0%40.0%0.0x
2025-0129.6x₹340 cr23.0%40.0%0.0x
2024-1227.9x₹340 cr23.0%40.0%0.0x
2024-1123.9x₹367 cr25.2%40.0%0.0x
2024-1024.0x₹367 cr25.2%40.0%0.0x
2024-0924.2x₹367 cr25.2%40.0%0.0x
2024-0818.1x₹409 cr27.8%40.0%0.0x
2024-0717.3x₹409 cr27.8%40.0%0.0x
2024-0617.5x₹409 cr27.8%40.0%0.0x
2024-0518.6x₹477 cr33.0%42.0%0.1x
2024-0419.0x₹477 cr33.0%42.0%0.1x
2024-0318.8x₹477 cr33.0%42.0%0.1x
2024-0218.7x₹477 cr33.0%42.0%0.1x
2024-0120.3x₹477 cr33.0%42.0%0.1x
2023-1217.6x₹477 cr33.0%42.0%0.1x
2023-1117.8x₹477 cr33.0%42.0%0.1x
2023-1019.2x₹477 cr33.0%42.0%0.1x
2023-0920.0x₹477 cr33.0%42.0%0.1x
2023-0819.8x₹477 cr33.0%42.0%0.1x
2023-0715.2x₹477 cr33.0%42.0%0.1x
2023-0613.6x₹477 cr33.0%42.0%0.1x
2023-0529.8x₹302 cr21.2%25.0%0.4x
2023-0431.0x₹302 cr21.2%25.0%0.4x
2023-0327.8x₹302 cr21.2%25.0%0.4x
2023-0229.5x₹302 cr21.2%25.0%0.4x
2023-0128.8x₹302 cr21.2%25.0%0.4x
2022-1227.7x₹302 cr21.2%25.0%0.4x
2022-1126.7x₹302 cr21.2%25.0%0.4x
2022-1027.1x₹302 cr21.2%25.0%0.4x
2022-0926.1x₹302 cr21.2%25.0%0.4x
2022-0826.2x₹302 cr21.2%25.0%0.4x
2022-0725.8x₹302 cr21.2%25.0%0.4x
2022-0620.3x₹302 cr21.2%25.0%0.4x
2022-0552.2x₹158 cr9.3%12.0%0.2x
2022-0460.5x₹158 cr9.3%12.0%0.2x
2022-0358.6x₹158 cr9.3%12.0%0.2x
2022-0247.1x₹158 cr9.3%12.0%0.2x
2022-0152.1x₹158 cr9.3%12.0%0.2x
2021-1249.6x₹158 cr9.3%12.0%0.2x
2021-1149.3x₹158 cr9.3%12.0%0.2x

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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