52-week range
Price risk
Balance sheet & cash
What is the price implying?
At normalised P/E (five-year average earnings) of 28.6x, a holder earning 12%/yr needs earnings to grow about 18.6%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 20.1% | 21.2% | 22.3% |
| 15x | 17.6% | 18.6% | 19.7% |
| 20x | 14.4% | 15.4% | 16.4% |
“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 Consumer Durables The market-wide Expectations lists
What changed?
- Oct '26Fell 32% from the Nov 2025 peak to the Oct 2026 low.
- Oct '26Volume reached 82.3x its 50-day median on 2026-10-09; price -0.4% that day.
- Sep '26Slipped to the 2nd quartile of Consumer Durables on operating margin (from the top quartile).
- Sep '26Volume reached 24.9x its 50-day median on 2026-09-21; price +5.7% that day.
- Jun '26Volume reached 193.7x its 50-day median on 2026-06-10; price +0.9% 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
Are profits backed by cash?
5 of 5 checks are within range.
Tap a check to see how it is measured.
Other income reliance12%Within range
Other income as a share of pre-tax profit (trailing twelve months): 11.9%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate27%Within range
Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion1.05xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 1.05x (cash from operations ₹221 cr, net profit ₹210 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—Not enough data
Not enough reported data to compute this.
Capital work in progress17% of fixed assetsWithin range
Capital work-in-progress is 17% 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.
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.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-32.5% (2025-11 peak to 2026-10 low, not yet recovered)
Most recent volume spikes
2026-10-09: 82.3x the 50-day median, price -0.4% that day
2026-09-21: 24.9x the 50-day median, price +5.7% that day
Where does it rank among Consumer Durables peers?
Each cell is the company's percentile rank among its Consumer Durables peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Consumer Durables sector page Watch it move against Consumer Durables in the Observatory
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| ADOR WELDING (ADOR) | Producer Manufacturing | 69% | operating margin, ROCE |
| MOTISONS JEWELLERS (MOTISONS) | Retail Trade | 67% | market cap, P/E |
| INTERARCH BUILDING SOLUTIONS L (INTERARCH) | Producer Manufacturing | 64% | ROCE, debt/equity |
| DYNAMIC CABLES (DYCL) | Producer Manufacturing | 63% | market cap, operating margin |
| RAJOO ENGINEERS (RAJOOENG) | Producer Manufacturing | 60% | ROCE, promoter holding |
| GOLDIAM INTERNATIONAL (GOLDIAM) | Consumer Durables | 45% | P/E, ROCE |
| CERA SANITARYWARE (CERA) | Consumer Durables | 44% | ROCE, operating margin |
| BUTTERFLY GANDHIMATHI APPLIANC (BUTTERFLY) | Consumer Durables | 38% | P/E, debt/equity |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
Monthly history (12 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 20.7x | ₹655 cr | 14.3% | 23.0% | 0.0x |
| 2026-09 | 20.7x | ₹655 cr | 14.3% | 23.0% | 0.0x |
| 2026-08 | 21.2x | ₹634 cr | 15.9% | 23.0% | 0.0x |
| 2026-07 | 20.9x | ₹634 cr | 15.9% | 23.0% | 0.0x |
| 2026-06 | 22.3x | ₹634 cr | 15.9% | 23.0% | 0.0x |
| 2026-05 | 22.1x | ₹616 cr | 18.2% | 23.0% | 0.0x |
| 2026-04 | 23.7x | ₹616 cr | 18.2% | 23.0% | 0.0x |
| 2026-03 | 21.7x | ₹616 cr | 18.2% | 23.0% | 0.0x |
| 2026-02 | 26.5x | ₹602 cr | 17.1% | 23.0% | 0.0x |
| 2026-01 | 25.7x | ₹602 cr | 17.1% | 23.0% | 0.0x |
| 2025-12 | 27.5x | ₹602 cr | 17.1% | 23.0% | 0.0x |
| 2025-11 | 29.1x | ₹593 cr | 16.2% | 23.0% | 0.0x |