SUDARSHAN CHEMICAL INDUS LTD (SUDARSCHEM): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹1,053.75 latest close · +15.8% over the last 90 sessions

₹1,053.75 month-end · +4.0% over 12 months

₹1,053.75 month-end · +131.1% over 3 years

₹1,053.75 month-end · +228.3% since Jan '19

52-week range ₹726.40 to ₹1347.00 · 1-year volatility 41.0%

How rough has the ride been?

Maximum drawdown-53.2%recovered 2024-05

1-year volatility41.0%annualised

Beta vs sector index1.223-year daily, correlation 0.50

Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-53.2% (2021-08 peak to 2023-02 low, recovered 2024-05)

-50.9% (2025-09 peak to 2026-03 low, not yet recovered)

-39.1% (2020-02 peak to 2020-03 low, recovered 2020-09)

Most recent volume spikes

2026-09-01: 6.1x the 50-day median, price -2.1% that day

2026-08-14: 17.3x the 50-day median, price +6.2% that day

2026-07-06: 5.3x the 50-day median, price +2.0% 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?

116.4xP/E todayNear its historic high

Against its own history87th percentile

CheapestMedian 27.5xDearest

Usual range 19.7x to 127.7x since 2019-01.

Against Process Industries116.4x vs 18.1x

This company

116.4x

Sector median

18.1x

544% above the Process Industries median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries 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 Process Industries is valued

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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

ROCE21stflat vs a year ago
Op. margin43rd▲ 4 pts vs a year ago
Revenue growth98thflat vs a year ago
EPS growth31st▲ 12 pts vs a year ago
Debt/equity ↓28th▼ 3 pts vs a year ago
Cash cycle ↓41st▲ 38 pts vs a year ago
P/E ↓3rd▼ 3 pts vs a year ago
12M momentum66th▼ 8 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~31%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 80.9x, a holder earning 12%/yr needs earnings to grow about 31.3%/yr for 10 years, then trade at 15x.

Delivered4.8%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap+26.5 ptsimplied minus delivered

Rank73rdmost demanding of 856

Over time

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

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	32.9%	34.1%	35.3%
15x	30.2%	31.3%	32.5%
20x	26.7%	27.8%	29.0%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 31.3%/yr

Looking back

Jan 2020Price implied 20%/yr; EPS has since grown −17%/yr (7.0 yrs)
Jan 2021Price implied 19%/yr; EPS has since grown −21%/yr (6.0 yrs)
Jan 2022Price implied 20%/yr; EPS has since grown −24%/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 Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹1053.75
P/E: 116.4x
ROCE: 5.0%
Market Cap: ₹8390 cr
Revenue (TTM): ₹9922 cr
P/S: 0.8x
P/B: 2.4x
ROE: 2.1%
Operating Margin: 10.0%
Debt / Equity: 0.7x
Promoter Holding: 8.2%
12M Momentum: 4.0%

52-week range

₹726.40₹1347.00

53% of the way from its 52-week low to its high

Price risk

1Y volatility

41.0%

Beta vs sector

1-year daily

1.37

Balance sheet & cash

Interest cover

operating profit ÷ interest

2.4x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.33x

Share count, 1Y

unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold

Other income reliance34%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 33.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate34%Within range

Median quarterly effective tax rate over about 2.5 years: 33.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.33xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.33x (cash from operations ₹608 cr, net profit ₹458 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 3. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-21 daysWithin range

Debtor days are below the median of the previous three fiscal years by 21 days (63 vs 84). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress5% of fixed assetsWithin range

Capital work-in-progress is 5% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-19 days / 2 yrsWithin range

Days payable changed by -19 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, promoters trimmed 27.6 pts; DIIs added 12.7 pts; FIIs added 3.8 pts.
The number of shareholders fell from 68,052 to 57,744 (-15%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters35.8%8.2%-27.6 pts

FIIs4.7%8.5%+3.8 pts

DIIs13.7%26.4%+12.7 pts

Public and others45.9%56.9%+11.0 pts

Number of shareholders

57,744shareholders-15% since Sep '23

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

−1.4%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like SUDARSHAN CHEMICAL INDUS 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 −18% to +36% vs the market, against −5% for all non-financial companies in the same months.
The gap against the base rate (+3.9%, 80% range −2.0% to +12.5%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

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 · 4 beyond the range shown, drawn at the edge

Similar setups' median

−1.4%

All companies' median

−5.3%

Beat the market

46% vs 44%

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

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
MOL Process Industries	Sep 2025	108x	3%	−20%	−30%	−31%
STAR Health Technology	Jun 2020	90x	5%	+3%	−23%	+13%
HSCL Process Industries	Mar 2023	89x	5%	+18%	−19%	+133%
AMBER Producer Manufacturing	Jan 2024	95x	11%	+132%	−1%	+36%
WELCORP Producer Manufacturing	May 2024	70x	6%	+117%	−13%	+62%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
THOMASCOOK Consumer Services	Jun 2023	546x	5%	+30%	−8%	+116%
RUSTOMJEE Finance	Nov 2024	91x	7%	+29%	−8%	−27%
BEML Producer Manufacturing	Aug 2021	80x	5%	+98%	−8%	+30%

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, drawdown from 12-month high and 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 SUDARSHAN CHEMICAL INDUS 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

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

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.

AMBER ENTERPRISES INDIAAMBER

Producer Manufacturing

60%similar

revenueP/E

PG ELECTROPLASTPGEL

Electronic Technology

59%similar

revenue growthP/E

CRAFTSMAN AUTOMATIONCRAFTSMAN

Producer Manufacturing

57%similar

revenuerevenue growth

BLUESTONE JEWELLERY N LIFESTBLUESTONE

Retail Trade

52%similar

promoter holdingP/E

ENTERO HEALTHCARE SOLENTERO

Distribution Services

52%similar

market caprevenue

BALRAMPUR CHINI MILLSBALRAMCHIN

Process Industries

52%similar

volatilitydebt/equity

AARTI INDUSTRIESAARTIIND

Process Industries

42%similar

revenuedebt/equity

PCBL CHEMICALPCBL

Process Industries

39%similar

revenuemarket cap

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

What changed?

30 events since Sep '24

2026
SepPeer rankMoved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).
AugPriceVolume reached 17.3x its 50-day median on 2026-08-14; price +6.2% that day.
JunResultsEPS (TTM) turned positive.
JunValuationP/E crossed above the 90th percentile of its own history to date (310.6x).
JunPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
AprPriceVolume reached 90.2x its 50-day median on 2026-04-16; price +7.7% that day.
MarResultsEPS (TTM) turned negative.
MarPriceFell 51% from the Sep 2025 peak to the Mar 2026 low.

Show 22 earlier events

2026
MarPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
MarPriceVolume reached 9.0x its 50-day median on 2026-03-11; price +1.7% that day.
2025
DecPromoterPromoter holding fell 8.2 pts to 8.2% (largest drop in the history since 2019-01).
NovPriceVolume reached 5.9x its 50-day median on 2025-11-13; price +3.7% that day.
SepPromoterPromoter holding fell 7.5 pts to 16.4% (largest drop in the history since 2019-01).
JulPeer rankSlipped to the bottom quartile of Process Industries on ROCE (from the 2nd quartile).
JulPriceVolume reached 60.9x its 50-day median on 2025-07-28; price +9.3% that day.
JunPromoterPromoter holding fell 3.7 pts to 23.9%.
JunResultsYear-on-year EPS growth turned negative.
JunPriceRegained the 2024-10 peak, 3 months after the low.
JunInstitutionsFII + DII holding rose 4.2 pts over 1 quarter to 31.5%.
JunValuationP/E crossed above the 90th percentile of its own history to date (151.9x).
JunPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
JunSharesShare count is up 14.3% over 12 months.
JunPriceVolume reached 7.8x its 50-day median on 2025-06-09; price +9.6% that day.
MarPromoterPromoter holding fell 3.0 pts to 27.6%.
MarPriceFell 31% from the Oct 2024 peak to the Mar 2025 low.
FebDebtDebt / equity halved over 12 months to 0.41x.
2024
OctPriceVolume reached 14.7x its 50-day median on 2024-10-11; price +18.4% that day.
SepPromoterPromoter holding fell 2.7 pts to 30.6%.
SepPeer rankSlipped to the 2nd quartile of Process Industries on operating margin (from the top quartile).
SepPriceVolume reached 5.3x its 50-day median on 2024-09-20; price +0.6% 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 history95 months · 2019-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	116.4x	₹9922 cr	2.1%	5.0%	0.7x
2026-10	110.1x	₹9922 cr	2.1%	5.0%	0.7x
2026-09	133.0x	₹9922 cr	2.1%	5.0%	0.7x
2026-08	446.1x	₹9787 cr	0.9%	5.0%	0.7x
2026-07	357.0x	₹9787 cr	0.9%	5.0%	0.7x
2026-06	310.6x	₹9787 cr	0.9%	5.0%	0.7x
2026-05	—	₹8346 cr	-1.0%	6.0%	0.7x
2026-04	—	₹8346 cr	-1.0%	6.0%	0.7x
2026-03	—	₹8346 cr	-1.0%	6.0%	0.7x
2026-02	124.4x	₹6909 cr	1.8%	6.0%	0.7x
2026-01	128.0x	₹6909 cr	1.8%	6.0%	0.7x
2025-12	134.4x	₹6909 cr	1.8%	6.0%	0.7x
2025-11	102.6x	₹5218 cr	2.1%	6.0%	0.7x
2025-10	116.4x	₹5218 cr	2.1%	6.0%	0.7x
2025-09	135.0x	₹5218 cr	2.1%	6.0%	0.7x
2025-08	184.2x	₹3345 cr	1.4%	6.0%	0.7x
2025-07	176.8x	₹3345 cr	1.4%	6.0%	0.7x
2025-06	151.9x	₹3345 cr	1.4%	6.0%	0.7x
2025-05	69.3x	₹2760 cr	8.4%	11.0%	0.4x
2025-04	60.2x	₹2760 cr	8.4%	11.0%	0.4x
2025-03	58.2x	₹2760 cr	8.4%	11.0%	0.4x
2025-02	45.4x	₹2660 cr	9.4%	11.0%	0.4x
2025-01	52.4x	₹2660 cr	9.4%	11.0%	0.4x
2024-12	60.0x	₹2660 cr	9.4%	11.0%	0.4x
2024-11	61.5x	₹2565 cr	8.6%	11.0%	0.4x
2024-10	60.4x	₹2565 cr	8.6%	11.0%	0.4x
2024-09	64.5x	₹2565 cr	8.6%	11.0%	0.4x
2024-08	20.0x	₹2539 cr	25.5%	11.0%	0.4x
2024-07	18.1x	₹2539 cr	25.5%	11.0%	0.4x
2024-06	17.5x	₹2539 cr	25.5%	11.0%	0.4x
2024-05	121.4x	₹2302 cr	4.5%	6.0%	1.0x
2024-04	114.3x	₹2302 cr	4.5%	6.0%	1.0x
2024-03	94.3x	₹2302 cr	4.5%	6.0%	1.0x
2024-02	90.9x	₹2302 cr	4.5%	6.0%	1.0x
2024-01	81.2x	₹2302 cr	4.5%	6.0%	1.0x
2023-12	84.9x	₹2302 cr	4.5%	6.0%	1.0x
2023-11	70.5x	₹2302 cr	4.5%	6.0%	1.0x
2023-10	73.4x	₹2302 cr	4.5%	6.0%	1.0x
2023-09	74.0x	₹2302 cr	4.5%	6.0%	1.0x
2023-08	78.5x	₹2302 cr	4.5%	6.0%	1.0x
2023-07	76.5x	₹2302 cr	4.5%	6.0%	1.0x
2023-06	75.0x	₹2302 cr	4.5%	6.0%	1.0x
2023-05	24.7x	₹2201 cr	12.8%	13.0%	1.0x
2023-04	22.0x	₹2201 cr	12.8%	13.0%	1.0x
2023-03	20.8x	₹2201 cr	12.8%	13.0%	1.0x
2023-02	19.7x	₹2201 cr	12.8%	13.0%	1.0x
2023-01	20.5x	₹2201 cr	12.8%	13.0%	1.0x
2022-12	20.8x	₹2201 cr	12.8%	13.0%	1.0x
2022-11	20.7x	₹2201 cr	12.8%	13.0%	1.0x
2022-10	21.9x	₹2201 cr	12.8%	13.0%	1.0x
2022-09	22.3x	₹2201 cr	12.8%	13.0%	1.0x
2022-08	24.5x	₹2201 cr	12.8%	13.0%	1.0x
2022-07	25.2x	₹2201 cr	12.8%	13.0%	1.0x
2022-06	22.3x	₹2201 cr	12.8%	13.0%	1.0x
2022-05	22.4x	₹1864 cr	15.5%	17.0%	0.8x
2022-04	25.7x	₹1864 cr	15.5%	17.0%	0.8x
2022-03	25.6x	₹1864 cr	15.5%	17.0%	0.8x
2022-02	26.4x	₹1864 cr	15.5%	17.0%	0.8x
2022-01	28.2x	₹1864 cr	15.5%	17.0%	0.8x
2021-12	27.4x	₹1864 cr	15.5%	17.0%	0.8x
2021-11	27.6x	₹1864 cr	15.5%	17.0%	0.8x
2021-10	27.9x	₹1864 cr	15.5%	17.0%	0.8x
2021-09	32.3x	₹1864 cr	15.5%	17.0%	0.8x
2021-08	32.4x	₹1864 cr	15.5%	17.0%	0.8x
2021-07	36.6x	₹1864 cr	15.5%	17.0%	0.8x
2021-06	33.4x	₹1864 cr	15.5%	17.0%	0.8x
2021-05	32.1x	₹1708 cr	19.8%	18.0%	0.8x
2021-04	31.5x	₹1708 cr	19.8%	18.0%	0.8x
2021-03	24.8x	₹1708 cr	19.8%	18.0%	0.8x
2021-02	25.1x	₹1708 cr	19.8%	18.0%	0.8x
2021-01	24.3x	₹1708 cr	19.8%	18.0%	0.8x
2020-12	23.0x	₹1708 cr	19.8%	18.0%	0.8x
2020-11	22.5x	₹1708 cr	19.8%	18.0%	0.8x
2020-10	21.1x	₹1708 cr	19.8%	18.0%	0.8x
2020-09	23.2x	₹1708 cr	19.8%	18.0%	0.8x
2020-08	21.8x	₹1708 cr	19.8%	18.0%	0.8x
2020-07	19.6x	₹1708 cr	19.8%	18.0%	0.8x
2020-06	18.8x	₹1708 cr	19.8%	18.0%	0.8x
2020-05	19.9x	₹1593 cr	19.5%	17.0%	0.6x
2020-04	21.0x	₹1593 cr	19.5%	17.0%	0.6x
2020-03	19.1x	₹1593 cr	19.5%	17.0%	0.6x
2020-02	23.6x	₹1593 cr	19.5%	17.0%	0.6x
2020-01	23.3x	₹1593 cr	19.5%	17.0%	0.6x
2019-12	20.9x	₹1593 cr	19.5%	17.0%	0.6x
2019-11	20.2x	₹1593 cr	19.5%	17.0%	0.6x
2019-10	21.0x	₹1593 cr	19.5%	17.0%	0.6x
2019-09	19.6x	₹1593 cr	19.5%	17.0%	0.6x
2019-08	16.3x	₹1593 cr	19.5%	17.0%	0.6x
2019-07	16.8x	₹1593 cr	19.5%	17.0%	0.6x
2019-06	16.4x	₹1593 cr	19.5%	17.0%	0.6x
2019-05	27.2x	₹1329 cr	15.8%	18.0%	1.0x
2019-04	27.3x	₹1329 cr	15.8%	18.0%	1.0x
2019-03	28.1x	₹1329 cr	15.8%	18.0%	1.0x
2019-02	26.2x	₹1329 cr	15.8%	18.0%	1.0x
2019-01	26.2x	₹1329 cr	15.8%	18.0%	1.0x

Methodology and data notes