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SUBROS LTD (SUBROS)

Producer Manufacturing · Industrial Machinery · 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.72 / 100
Profitability 47Growth 70Balance 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.25 / 100
Price 10Earnings 39FII/DII 27

Passes these screensDebt-light & profitableConsistent compounders

Compare withWELSPUN CORPVOLTASTHERMAX

Share price

Closing priceAdjusted for splits and bonus issues.

₹604.95 latest close · −28.7% over the last 90 sessions

₹600₹700₹800Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹600₹700₹800Jul 3Sep 4Nov 9

₹604.95 month-end · −29.3% over 12 months

₹600₹700₹800Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹600₹700₹800Nov '25May '26Nov '26

₹604.95 month-end · +42.1% over 3 years

₹400₹600₹800₹1,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹400₹600₹800₹1,000Nov '23May '25Nov '26

₹604.95 month-end · +152.7% since Jan '19

₹500₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000Jan '19Dec '22Nov '26

52-week range ₹572.10 to ₹1074.00 · 1-year volatility 38.2%

Was the rally earned?

-29%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 5 points, but investors now pay less per rupee of profit (P/E 35.7x to 23.7x), which took 34 points back.
  • The share count barely moved.
Net profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6 ptsNet profit growthP/E change: −34 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−34 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: −29%−29%Share priceNet profit growth: +6 pts. Points of the price return explained by net profit growing (or shrinking).+6ProfitP/E change: −34 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−34P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −29%−29%Share price
Net profit growth+6 ptsNet profit rose about 7%, which lifts the price.
P/E change-34 ptsThe P/E fell from 35.7x to 23.7x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+42%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 149 points, but investors now pay less per rupee of profit (P/E 57.9x to 23.7x), which took 107 points back.
  • The share count barely moved.
Net profit growth: +149 pts. Points of the price return explained by net profit growing (or shrinking).+149 ptsNet profit growthP/E change: −107 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−107 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: +42%+42%Share priceNet profit growth: +149 pts. Points of the price return explained by net profit growing (or shrinking).+149ProfitP/E change: −107 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−107P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +42%+42%Share price
Net profit growth+149 ptsNet profit rose about 247%, which lifts the price.
P/E change-107 ptsThe P/E fell from 57.9x to 23.7x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+73%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 167 points, but investors now pay less per rupee of profit (P/E 48.2x to 23.7x), which took 94 points back.
  • The share count barely moved.
Net profit growth: +168 pts. Points of the price return explained by net profit growing (or shrinking).+168 ptsNet profit growthP/E change: −94 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−94 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: +73%+73%Share priceNet profit growth: +168 pts. Points of the price return explained by net profit growing (or shrinking).+168ProfitP/E change: −94 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−94P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +73%+73%Share price
Net profit growth+168 ptsNet profit rose about 254%, which lifts the price.
P/E change-94 ptsThe P/E fell from 48.2x to 23.7x, 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 WELSPUN CORP

How rough has the ride been?

Maximum drawdown-57.8%recovered 2020-11
1-year volatility38.2%annualised
Beta vs sector index1.083-year daily, correlation 0.47
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−57.4% 0%−20%−40%−60%2020202220242026−57.4%
Largest drawdowns

-57.8% (2019-04 peak to 2020-03 low, recovered 2020-11)

-51.7% (2025-09 peak to 2026-10 low, not yet recovered)

-33.2% (2024-08 peak to 2025-03 low, recovered 2025-06)

Most recent volume spikes

2026-11-04: 5.4x the 50-day median, price +1.9% that day

2026-10-28: 53.1x the 50-day median, price -3.3% that day

2026-07-31: 9x the 50-day median, price +4.6% 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?

23.7xP/E todayWithin its usual range
Against its own history23rd percentile
CheapestMedian 35.1xDearest

Usual range 19.9x to 66.1x since 2019-01.

Against Producer Manufacturing23.7x vs 29.6x
This company
23.7x
Sector median
29.6x

20% below the Producer Manufacturing median.

10.6x37.1x63.7x90.2xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.6x37.1x63.7x90.2xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing 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

  • ROCE66thflat vs a year ago
  • Op. margin28th▼ 5 pts vs a year ago
  • Revenue growth48thflat vs a year ago
  • EPS growth47th▼ 32 pts vs a year ago
  • Debt/equity ↓76th▼ 5 pts vs a year ago
  • Cash cycle ↓83rd▼ 5 pts vs a year ago
  • P/E ↓61st▲ 15 pts vs a year ago
  • 12M momentum19th▼ 72 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~23%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 40.0x, a holder earning 12%/yr needs earnings to grow about 22.9%/yr for 10 years, then trade at 15x.

Delivered15.0%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+7.9 ptsimplied minus delivered
Rank369thmost demanding of 856

Over time

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

0%27%54% Jan 2019Nov 2026 0%27%54% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x24.4%25.6%26.7%
15x21.8%22.9%24.0%
20x18.4%19.5%20.6%

Drag a slider to test other assumptions

Implied: 22.9%/yr

Looking back

  • Jan 2020Price implied 23%/yr; EPS has since grown 12%/yr (7.0 yrs)
  • Jan 2021Price implied 24%/yr; EPS has since grown 12%/yr (6.0 yrs)
  • Jan 2022Price implied 23%/yr; EPS has since grown 29%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹604.95
P/E
23.7x
ROCE
19.0%
Market Cap
₹3949 cr
Revenue (TTM)
₹3910 cr
P/S
1.0x
P/B
3.2x
ROE
13.4%
Operating Margin
8.0%
Debt / Equity
0.1x
Promoter Holding
36.8%
12M Momentum
-29.3%

52-week range

₹572.10₹1074.00
7% of the way from its 52-week low to its high

Price risk

1Y volatility
38.2%
Beta vs sector
1-year daily
1.21

Balance sheet & cash

Interest cover
operating profit ÷ interest
23.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.07x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 7checks within range1 near a threshold
Other income reliance14%Within range

Other income as a share of pre-tax profit (trailing twelve months): 14.4%. 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 conversion1.07xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.07x (cash from operations ₹446 cr, net profit ₹415 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+22 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 22 days (56 vs 34). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress11% of fixed assetsWithin range

Capital work-in-progress is 11% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+1 days / 2 yrsWithin range

Days payable changed by +1 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 38,402 to 56,225 (+46%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters36.8%36.8%0.0 pts
FIIs32.7%32.7%-0.1 pts
DIIs11.0%10.7%-0.3 pts
Public and others19.5%19.8%+0.3 pts

Number of shareholders

56,225shareholders+46% since Sep '23
38k44k50k56k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 38,402
Dec '23: 48,337
Mar '24: 53,981
Jun '24: 46,567
Sep '24: 47,760
Dec '24: 48,934
Mar '25: 47,848
Jun '25: 47,450
Sep '25: 48,427
Dec '25: 52,758
Mar '26: 54,708
Jun '26: 56,225
 38k44k50k56k Sep '23Sep '24Sep '25Jun '26
Sep '23: 38,402
Dec '23: 48,337
Mar '24: 53,981
Jun '24: 46,567
Sep '24: 47,760
Dec '24: 48,934
Mar '25: 47,848
Jun '25: 47,450
Sep '25: 48,427
Dec '25: 52,758
Mar '26: 54,708
Jun '26: 56,225

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

+3.8%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like SUBROS 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 −14% to +51% vs the market, against −5% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +8.8%, 80% range +3.7% to +12.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ROUTE · Apr 2025: −48.0% vs market
WHIRLPOOL · Jul 2025: −42.9% vs market
JTLIND · Dec 2024: −41.0% vs market
HPAL · Oct 2025: −37.7% vs market
BIRLANU · Jun 2022: −27.3% vs market
GAEL · May 2024: −22.7% vs market
BASF · Sep 2025: −22.0% vs market
TEAMLEASE · Jan 2024: −21.2% vs market
VENKEYS · Dec 2022: −19.6% vs market
AHLUCONT · Jun 2025: −15.9% vs market
ARE&M · May 2025: −15.9% vs market
RALLIS · Mar 2022: −14.7% vs market
AVANTIFEED · Dec 2022: −14.2% vs market
LUXIND · Jul 2025: −14.1% vs market
IFGLEXPOR · Jan 2022: −13.8% vs market
JTEKTINDIA · Aug 2024: −12.5% vs market
ROSSARI · Nov 2023: −12.5% vs market
POWERMECH · Jan 2025: −9.2% vs market
SHRIPISTON · Feb 2020: −8.1% vs market
VAIBHAVGBL · Aug 2025: −0.4% vs market
VRLLOG · May 2020: +0.5% vs market
IONEXCHANG · Sep 2025: +1.3% vs market
INDNIPPON · Jun 2021: +1.7% vs market
LUMAXTECH · Jan 2020: +2.6% vs market
NILKAMAL · Apr 2022: +2.9% vs market
TCI · Dec 2022: +4.7% vs market
NBCC · Apr 2022: +5.1% vs market
GOODYEAR · Nov 2021: +5.8% vs market
HARSHA · Dec 2023: +7.7% vs market
VEEDOL · Dec 2022: +11.4% vs market
PRINCEPIPE · Aug 2022: +11.5% vs market
ZEEL · Jul 2021: +13.2% vs market
PRECWIRE · Aug 2020: +17.5% vs market
MAYURUNIQ · Jun 2022: +22.5% vs market
BANCOINDIA · Feb 2020: +32.2% vs market
KIRLOSENG · Jun 2020: +36.5% vs market
RRKABEL · Feb 2025: +48.7% vs market
CYIENT · May 2022: +51.8% vs market
SJS · Jan 2024: +51.9% vs market
FINCABLES · Oct 2025: +53.3% vs market
ZENSARTECH · Jun 2020: +53.8% vs market
KINGFA · Feb 2024: +54.3% vs market
INSECTICID · Sep 2021: +56.0% vs market
CIEINDIA · Jul 2020: +58.4% vs market
BSOFT · Apr 2023: +61.2% vs market
ADOR · Aug 2025: +73.6% vs market
ACE · Apr 2020: +93.8% vs market
GABRIEL · Nov 2024: +123.5% vs market
BHAGCHEM · Aug 2023: +127.4% vs market
MOREPENLAB · Oct 2025: +151.8% vs market
Similar setups +3.8%All companies −5.0%← 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
+3.8%
All companies' median
−5.0%
Beat the market
60% vs 45%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SHRIPISTON
Producer Manufacturing		 Feb 2020 10x20% −39%−43% −8%
BANCOINDIA
Producer Manufacturing		 Feb 2020 9x17% −41%−48% +32%
JTEKTINDIA
Consumer Durables		 Aug 2024 53x— +25%−23% −13%
LUXIND
Consumer Non-Durables		 Jul 2025 25x13% −33%−43% −14%
VAIBHAVGBL
Consumer Durables		 Aug 2025 22x14% −36%−39% 0%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BASF
Process Industries		 Sep 2025 48x18% −41%−49% −22%
GAEL
Consumer Non-Durables		 May 2024 20x18% +19%−30% −23%
BIRLANU
Producer Manufacturing		 Jun 2022 13x21% −23%−46% −27%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, ROCE and drawdown from 12-month high. 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 SUBROS 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.

VA TECH WABAGWABAG
Industrial Services
71%similar
revenue growthrevenue
HERITAGE FOODSHERITGFOOD
Consumer Non-Durables
67%similar
market capP/E
TIME TECHNOPLASTTIMETECHNO
Process Industries
66%similar
volatilityrevenue growth
ORIENT ELECTRICORIENTELEC
Consumer Durables
63%similar
revenue growthpromoter holding
VARDHMAN SPECIAL STEELSVSSL
Non-Energy Minerals
61%similar
market capoperating margin
FIEM INDUSTRIESFIEMIND
Producer Manufacturing
63%similar
debt/equityvolatility
L G BALKRISHNAN & BROSLGBBROSLTD
Producer Manufacturing
57%similar
promoter holdingROCE
PRICOLPRICOLLTD
Producer Manufacturing
57%similar
promoter holdingrevenue

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

What changed?

30 events since Apr '23

  1. OctPriceFell 52% from the Sep 2025 peak to the Oct 2026 low.
  2. OctPriceVolume reached 53.1x its 50-day median on 2026-10-28; price -3.3% that day.
  3. SepPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  4. JulPriceVolume reached 9.0x its 50-day median on 2026-07-31; price +4.6% that day.
  5. JunPriceVolume reached 202.5x its 50-day median on 2026-06-22; price +14.5% that day.
  6. MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
  7. MarPriceVolume reached 8.5x its 50-day median on 2026-03-27; price -5.0% that day.
  8. OctPriceVolume reached 5.5x its 50-day median on 2025-10-07; price +0.8% that day.
Show 22 earlier events
  1. SepPriceVolume reached 55.7x its 50-day median on 2025-09-23; price +10.5% that day.
  2. JunPriceRegained the 2024-08 peak, 3 months after the low.
  3. JunPeer rankMoved into the 2nd quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  4. JunPriceVolume reached 97.3x its 50-day median on 2025-06-16; price +18.8% that day.
  5. MarPriceFell 33% from the Aug 2024 peak to the Mar 2025 low.
  6. FebPriceVolume reached 9.1x its 50-day median on 2025-02-21; price +10.9% that day.
  7. AugPriceVolume reached 21.2x its 50-day median on 2024-08-27; price +7.7% that day.
  8. JulPriceRegained the 2024-01 peak, 4 months after the low.
  9. JunResultsRevenue (TTM) reached a new high of ₹3,070 cr.
  10. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  11. MayPriceVolume reached 8.9x its 50-day median on 2024-05-23; price +0.6% that day.
  12. MarPriceFell 30% from the Jan 2024 peak to the Mar 2024 low.
  13. FebPeer rankSlipped to the bottom quartile of Producer Manufacturing on ROCE (from the 3rd quartile).
  14. JanPriceVolume reached 19.4x its 50-day median on 2024-01-02; price +11.4% that day.
  15. DecValuationP/E crossed above the 90th percentile of its own history to date (73.7x).
  16. DecPriceVolume reached 69.6x its 50-day median on 2023-12-11; price +10.9% that day.
  17. JulPriceVolume reached 30.3x its 50-day median on 2023-07-07; price +5.5% that day.
  18. JunResultsYear-on-year EPS growth turned positive.
  19. JunPriceRegained the 2021-12 peak, 12 months after the low.
  20. JunPeer rankMoved into the 3rd quartile of Producer Manufacturing on ROCE (from the bottom quartile).
  21. JunPriceVolume reached 179.1x its 50-day median on 2023-06-21; price +7.7% that day.
  22. AprValuationP/E crossed above the 90th percentile of its own history to date (61.9x).

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
2026-1123.7x₹3910 cr13.4%19.0%0.1x
2026-1022.6x₹3910 cr13.4%19.0%0.1x
2026-0927.4x₹3910 cr13.4%19.0%0.1x
2026-0828.2x₹3756 cr13.3%19.0%0.1x
2026-0732.3x₹3756 cr13.3%19.0%0.1x
2026-0633.2x₹3756 cr13.3%19.0%0.1x
2026-0528.9x₹3614 cr14.9%20.0%0.0x
2026-0431.2x₹3614 cr14.9%20.0%0.0x
2026-0325.5x₹3614 cr14.9%20.0%0.0x
2026-0232.1x₹3487 cr14.7%20.0%0.0x
2026-0132.8x₹3487 cr14.7%20.0%0.0x
2025-1235.1x₹3487 cr14.7%20.0%0.0x
2025-1135.7x₹3435 cr14.3%20.0%0.0x
2025-1045.3x₹3435 cr14.3%20.0%0.0x
2025-0945.3x₹3435 cr14.3%20.0%0.0x
2025-0837.8x₹3367 cr13.7%20.0%0.0x
2025-0737.1x₹3367 cr13.7%20.0%0.0x
2025-0641.5x₹3367 cr13.7%20.0%0.0x
2025-0535.2x₹3291 cr14.0%16.0%0.0x
2025-0429.0x₹3291 cr14.0%16.0%0.0x
2025-0327.1x₹3291 cr14.0%16.0%0.0x
2025-0228.9x₹3202 cr13.4%16.0%0.0x
2025-0132.8x₹3202 cr13.4%16.0%0.0x
2024-1231.4x₹3202 cr13.4%16.0%0.0x
2024-1134.3x₹3187 cr12.4%16.0%0.0x
2024-1034.7x₹3187 cr12.4%16.0%0.0x
2024-0941.6x₹3187 cr12.4%16.0%0.0x
2024-0853.0x₹3070 cr10.3%16.0%0.0x
2024-0746.8x₹3070 cr10.3%16.0%0.0x
2024-0643.3x₹3070 cr10.3%16.0%0.0x
2024-0582.9x₹2806 cr5.5%9.0%0.0x
2024-0484.7x₹2806 cr5.5%9.0%0.0x
2024-0370.1x₹2806 cr5.5%9.0%0.0x
2024-0280.8x₹2806 cr5.5%9.0%0.0x
2024-0190.2x₹2806 cr5.5%9.0%0.0x
2023-1273.7x₹2806 cr5.5%9.0%0.0x
2023-1157.9x₹2806 cr5.5%9.0%0.0x
2023-1050.5x₹2806 cr5.5%9.0%0.0x
2023-0952.9x₹2806 cr5.5%9.0%0.0x
2023-0856.7x₹2806 cr5.5%9.0%0.0x
2023-0757.7x₹2806 cr5.5%9.0%0.0x
2023-0659.6x₹2806 cr5.5%9.0%0.0x
2023-0565.8x₹2239 cr3.9%7.0%0.0x
2023-0461.9x₹2239 cr3.9%7.0%0.0x
2023-0360.3x₹2239 cr3.9%7.0%0.0x
2023-0256.4x₹2239 cr3.9%7.0%0.0x
2023-0160.3x₹2239 cr3.9%7.0%0.0x
2022-1260.1x₹2239 cr3.9%7.0%0.0x
2022-1159.1x₹2239 cr3.9%7.0%0.0x
2022-1066.2x₹2239 cr3.9%7.0%0.0x
2022-0973.1x₹2239 cr3.9%7.0%0.0x
2022-0866.7x₹2239 cr3.9%7.0%0.0x
2022-0768.5x₹2239 cr3.9%7.0%0.0x
2022-0660.3x₹2239 cr3.9%7.0%0.0x
2022-0541.8x₹1796 cr5.9%8.0%0.1x
2022-0446.1x₹1796 cr5.9%8.0%0.1x
2022-0345.1x₹1796 cr5.9%8.0%0.1x
2022-0248.2x₹1796 cr5.9%8.0%0.1x
2022-0150.0x₹1796 cr5.9%8.0%0.1x
2021-1251.8x₹1796 cr5.9%8.0%0.1x

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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