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SURANA TELECOM AND POWER LIMIT (SURANAT&P)

Distribution Services

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.67 / 100
Profitability 51Growth 93Balance sheet 56
Compare withADANI ENTERPRISES LIMITEDAEGIS LOGISTICS LTDSCHNEIDER ELECTRIC INFRA LTD

Passes these screens: Value Pick

Share Price
₹15.02
P/E
6.2x
ROCE
-1.0%
Market Cap
₹204 cr
Revenue (TTM)
₹60 cr
P/S
3.4x
P/B
1.1x
ROE
18.2%
Operating Margin
34.0%
Debt / Equity
0.4x
Promoter Holding
72.0%
12M Momentum
-30.4%
P/E vs its own history2nd percentilesince Jan '19
P/E vs Distribution Services0.4xthe sector median

52-week range

₹13.71₹23.00
14% of the way from its 52-week low to its high

Price risk

1Y volatility
33.6%
Beta vs sector
1-year daily
0.44

Balance sheet & cash

Interest cover
operating profit ÷ interest
9.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
-0.19x
low
Share count, 1Y
unchanged

Was the rally earned?

-30%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 23 points, but investors now pay less per rupee of profit (P/E 11.7x to 6.2x), which took 54 points back.
  • The share count barely moved.
1 year Net profit growth: +22 pts. Points of the price return explained by net profit growing (or shrinking).+22 ptsP/E change: -54 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-54 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -30% 1 year Net profit growth: +22 pts. Points of the price return explained by net profit growing (or shrinking).+22 ptsP/E change: -54 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-54 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -30%
Net profit growth+22 ptsNet profit rose about 30%, which lifts the price.
P/E change-54 ptsThe P/E fell from 11.7x to 6.2x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
+41%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 218 points, but investors now pay less per rupee of profit (P/E 27.3x to 6.2x), which took 177 points back.
  • The share count fell 4%.
3 years Net profit growth: +214 pts. Points of the price return explained by net profit growing (or shrinking).+214 ptsP/E change: -177 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-177 ptsShare count change: +5 pts. Points of the price return explained by the share count changing. More shares count against the price. +41% 3 years Net profit growth: +214 pts. Points of the price return explained by net profit growing (or shrinking).+214 ptsP/E change: -177 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-177 ptsShare count change: +5 pts. Points of the price return explained by the share count changing. More shares count against the price. +41%
Net profit growth+214 ptsNet profit rose about 500%, which lifts the price.
P/E change-177 ptsThe P/E fell from 27.3x to 6.2x, which lowers the price.
Share count change+5 ptsShare count fell 4%, which lifts the price.
+62%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 292 points, but investors now pay less per rupee of profit (P/E 37.2x to 6.2x), which took 230 points back.
  • The share count barely moved.
5 years Net profit growth: +292 pts. Points of the price return explained by net profit growing (or shrinking).+292 ptsP/E change: -230 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-230 pts +62% 5 years Net profit growth: +292 pts. Points of the price return explained by net profit growing (or shrinking).+292 ptsP/E change: -230 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-230 pts +62%
Net profit growth+292 ptsNet profit rose about 872%, which lifts the price.
P/E change-230 ptsThe P/E fell from 37.2x to 6.2x, 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 ADANI ENTERPRISES

Is it expensive against its own past and its peers?

6.2xP/E todayNear its historic low
Against its own history2nd percentileMedian 18.8x; usual range 7.7x to 40.7x since 2019-01.
Against Distribution Services6.2x vs 17.1xBelow the Distribution Services median.
5.7x24.9x44.2x63.4xJan '19Aug '20Mar '22Oct '23May '25Oct '265.7x24.9x44.2x63.4xJan '19Aug '21Mar '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianDistribution Services median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianDistribution Services median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Distribution Services is valued

What is the price implying?

~11%annual earnings growth implied by the price

At a P/E of 14.0x, the price would imply about 11.3%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Distribution Services The market-wide Expectations lists

What changed?

  1. Oct '26Fell 53% from the Jul 2024 peak to the Oct 2026 low.
  2. Sep '26P/E fell below the 10th percentile of its own history to date (6.5x).
  3. Sep '26Moved into the top quartile of Distribution Services on operating margin (from the bottom quartile).
  4. Jun '26Slipped to the bottom quartile of Distribution Services on operating margin (from the 3rd quartile).
  5. Mar '26Revenue (TTM) reached a new high of ₹41 cr.
  6. Dec '25Slipped to the 3rd quartile of Distribution Services on operating margin (from the top quartile).
  7. Sep '25Moved into the top quartile of Distribution Services on operating margin (from the bottom quartile).
  8. Jun '25Slipped to the bottom quartile of Distribution Services on ROCE (from the 3rd quartile).
Show 22 earlier events
  1. Dec '24Moved into the 3rd quartile of Distribution Services on ROCE (from the bottom quartile).
  2. Oct '24Slipped to the bottom quartile of Distribution Services on ROCE (from the 3rd quartile).
  3. Jun '24Year-on-year EPS growth turned positive.
  4. Jun '24Regained the 2024-02 peak, 1 month after the low.
  5. Jun '24Moved into the 3rd quartile of Distribution Services on ROCE (from the bottom quartile).
  6. May '24Fell 30% from the Feb 2024 peak to the May 2024 low.
  7. May '24P/E crossed above the 90th percentile of its own history to date (45.8x).
  8. Dec '23Regained the 2022-01 peak, 9 months after the low.
  9. Dec '23P/E crossed above the 90th percentile of its own history to date (39.6x).
  10. Jun '23Year-on-year EPS growth turned negative.
  11. Jun '23Slipped to the bottom quartile of Distribution Services on ROCE (from the 3rd quartile).
  12. Mar '23Fell 54% from the Jan 2022 peak to the Mar 2023 low.
  13. Jun '22Year-on-year EPS growth turned positive.
  14. Jun '22Moved into the top quartile of Distribution Services on EPS growth (from the bottom quartile).
  15. Dec '21Regained the 2021-10 peak, 1 month after the low.
  16. Nov '21Fell 29% from the Oct 2021 peak to the Nov 2021 low.
  17. Sep '21P/E crossed above the 90th percentile of its own history to date (36.8x).
  18. Aug '21Slipped to the bottom quartile of Distribution Services on EPS growth (from the 3rd quartile).
  19. Jul '21Regained the 2021-01 peak, 3 months after the low.
  20. Jun '21Year-on-year EPS growth turned negative.
  21. Jun '21Slipped to the 3rd quartile of Distribution Services on EPS growth (from the top quartile).
  22. Apr '21Fell 47% from the Jan 2021 peak to the Apr 2021 low.

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?

3 of 6 checks are within range, 3 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance136%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 136.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate19%Within range

Median quarterly effective tax rate over about 2.5 years: 19.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion-0.19xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: -0.19x (cash from operations ₹-10 cr, net profit ₹53 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+190 daysBeyond threshold

Debtor days are above the median of the previous three fiscal years by 190 days (258 vs 68). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% 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.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, promoters trimmed 2.4 pts.
  • The number of shareholders rose from 42,420 to 66,430 (+57%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters74.4%72.0%-2.4 pts
FIIs0.0%0.0%0.0 pts
DIIs0.0%0.1%0.0 pts
Public and others25.4%27.8%+2.4 pts

Number of shareholders

66,430shareholders+57% since Dec '23
42k54k66k77k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 42,420
Mar '24: 58,956
Jun '24: 68,675
Sep '24: 77,060
Dec '24: 77,124
Mar '25: 75,144
Jun '25: 73,298
Sep '25: 72,776
Dec '25: 70,177
Mar '26: 67,979
Jun '26: 66,430
 42k54k66k77k Dec '23Dec '24Dec '25Jun '26
Dec '23: 42,420
Mar '24: 58,956
Jun '24: 68,675
Sep '24: 77,060
Dec '24: 77,124
Mar '25: 75,144
Jun '25: 73,298
Sep '25: 72,776
Dec '25: 70,177
Mar '26: 67,979
Jun '26: 66,430

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

How rough has the ride been?

Maximum drawdown-54.4%recovered 2023-12
1-year volatility33.6%annualised

Monthly share price

₹2₹10₹18₹25 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹4.40
2019-02: ₹4.25
2019-03: ₹4.15
2019-04: ₹4.25
2019-05: ₹4.15
2019-06: ₹4.05
2019-07: ₹4.00
2019-08: ₹3.80
2019-09: ₹3.25
2019-10: ₹3.50
2019-11: ₹3.45
2019-12: ₹3.60
2020-01: ₹3.95
2020-02: ₹3.55
2020-03: ₹2.40
2020-04: ₹3.20
2020-05: ₹2.95
2020-06: ₹4.45
2020-07: ₹3.70
2020-08: ₹3.95
2020-09: ₹3.85
2020-10: ₹3.85
2020-11: ₹3.80
2020-12: ₹5.80
2021-01: ₹4.75
2021-02: ₹4.60
2021-03: ₹4.10
2021-04: ₹4.15
2021-05: ₹5.25
2021-06: ₹6.70
2021-07: ₹6.55
2021-08: ₹6.40
2021-09: ₹9.20
2021-10: ₹9.30
2021-11: ₹7.55
2021-12: ₹10.55
2022-01: ₹15.85
2022-02: ₹10.45
2022-03: ₹10.25
2022-04: ₹13.25
2022-05: ₹11.30
2022-06: ₹9.90
2022-07: ₹12.30
2022-08: ₹11.35
2022-09: ₹11.25
2022-10: ₹11.30
2022-11: ₹10.80
2022-12: ₹11.00
2023-01: ₹11.50
2023-02: ₹9.20
2023-03: ₹8.35
2023-04: ₹9.10
2023-05: ₹9.35
2023-06: ₹9.40
2023-07: ₹10.00
2023-08: ₹11.85
2023-09: ₹12.10
2023-10: ₹10.65
2023-11: ₹10.90
2023-12: ₹15.45
2024-01: ₹19.00
2024-02: ₹17.95
2024-03: ₹14.70
2024-04: ₹15.00
2024-05: ₹17.85
2024-06: ₹24.33
2024-07: ₹25.11
2024-08: ₹20.81
2024-09: ₹23.35
2024-10: ₹22.34
2024-11: ₹19.97
2024-12: ₹23.55
2025-01: ₹22.12
2025-02: ₹17.90
2025-03: ₹18.85
2025-04: ₹17.76
2025-05: ₹20.16
2025-06: ₹19.35
2025-07: ₹18.81
2025-08: ₹18.92
2025-09: ₹22.05
2025-10: ₹21.59
2025-11: ₹20.05
2025-12: ₹20.19
2026-01: ₹18.01
2026-02: ₹17.93
2026-03: ₹15.73
2026-04: ₹18.79
2026-05: ₹18.20
2026-06: ₹19.55
2026-07: ₹17.95
2026-08: ₹16.36
2026-09: ₹15.84
2026-10: ₹15.02
 ₹2₹10₹18₹25 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹4.40
2019-02: ₹4.25
2019-03: ₹4.15
2019-04: ₹4.25
2019-05: ₹4.15
2019-06: ₹4.05
2019-07: ₹4.00
2019-08: ₹3.80
2019-09: ₹3.25
2019-10: ₹3.50
2019-11: ₹3.45
2019-12: ₹3.60
2020-01: ₹3.95
2020-02: ₹3.55
2020-03: ₹2.40
2020-04: ₹3.20
2020-05: ₹2.95
2020-06: ₹4.45
2020-07: ₹3.70
2020-08: ₹3.95
2020-09: ₹3.85
2020-10: ₹3.85
2020-11: ₹3.80
2020-12: ₹5.80
2021-01: ₹4.75
2021-02: ₹4.60
2021-03: ₹4.10
2021-04: ₹4.15
2021-05: ₹5.25
2021-06: ₹6.70
2021-07: ₹6.55
2021-08: ₹6.40
2021-09: ₹9.20
2021-10: ₹9.30
2021-11: ₹7.55
2021-12: ₹10.55
2022-01: ₹15.85
2022-02: ₹10.45
2022-03: ₹10.25
2022-04: ₹13.25
2022-05: ₹11.30
2022-06: ₹9.90
2022-07: ₹12.30
2022-08: ₹11.35
2022-09: ₹11.25
2022-10: ₹11.30
2022-11: ₹10.80
2022-12: ₹11.00
2023-01: ₹11.50
2023-02: ₹9.20
2023-03: ₹8.35
2023-04: ₹9.10
2023-05: ₹9.35
2023-06: ₹9.40
2023-07: ₹10.00
2023-08: ₹11.85
2023-09: ₹12.10
2023-10: ₹10.65
2023-11: ₹10.90
2023-12: ₹15.45
2024-01: ₹19.00
2024-02: ₹17.95
2024-03: ₹14.70
2024-04: ₹15.00
2024-05: ₹17.85
2024-06: ₹24.33
2024-07: ₹25.11
2024-08: ₹20.81
2024-09: ₹23.35
2024-10: ₹22.34
2024-11: ₹19.97
2024-12: ₹23.55
2025-01: ₹22.12
2025-02: ₹17.90
2025-03: ₹18.85
2025-04: ₹17.76
2025-05: ₹20.16
2025-06: ₹19.35
2025-07: ₹18.81
2025-08: ₹18.92
2025-09: ₹22.05
2025-10: ₹21.59
2025-11: ₹20.05
2025-12: ₹20.19
2026-01: ₹18.01
2026-02: ₹17.93
2026-03: ₹15.73
2026-04: ₹18.79
2026-05: ₹18.20
2026-06: ₹19.55
2026-07: ₹17.95
2026-08: ₹16.36
2026-09: ₹15.84
2026-10: ₹15.02

Last 90 trading days

₹14₹16₹18₹20 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹19.09
2026-06-25: ₹19.06
2026-06-30: ₹19.55
2026-07-02: ₹19.74
2026-07-06: ₹19.52
2026-07-08: ₹18.41
2026-07-10: ₹18.71
2026-07-14: ₹18.33
2026-07-16: ₹18.16
2026-07-20: ₹17.77
2026-07-22: ₹18.04
2026-07-24: ₹18.25
2026-07-28: ₹18.07
2026-07-30: ₹17.75
2026-08-03: ₹17.89
2026-08-05: ₹18.01
2026-08-07: ₹17.84
2026-08-11: ₹16.31
2026-08-13: ₹16.28
2026-08-17: ₹16.19
2026-08-19: ₹16.15
2026-08-21: ₹16.28
2026-08-25: ₹16.24
2026-08-27: ₹15.91
2026-08-31: ₹16.36
2026-09-02: ₹16.03
2026-09-04: ₹16.57
2026-09-08: ₹16.42
2026-09-10: ₹16.05
2026-09-15: ₹15.81
2026-09-17: ₹15.85
2026-09-21: ₹16.10
2026-09-23: ₹16.04
2026-09-25: ₹15.92
2026-09-29: ₹15.87
2026-10-01: ₹15.98
2026-10-06: ₹15.76
2026-10-08: ₹15.61
2026-10-12: ₹15.53
2026-10-14: ₹15.32
2026-10-16: ₹15.37
2026-10-21: ₹15.25
2026-10-23: ₹14.31
2026-10-27: ₹14.89
2026-10-29: ₹15.14
2026-10-30: ₹15.02
 ₹14₹16₹18₹20 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹19.09
2026-06-25: ₹19.06
2026-06-30: ₹19.55
2026-07-02: ₹19.74
2026-07-06: ₹19.52
2026-07-08: ₹18.41
2026-07-10: ₹18.71
2026-07-14: ₹18.33
2026-07-16: ₹18.16
2026-07-20: ₹17.77
2026-07-22: ₹18.04
2026-07-24: ₹18.25
2026-07-28: ₹18.07
2026-07-30: ₹17.75
2026-08-03: ₹17.89
2026-08-05: ₹18.01
2026-08-07: ₹17.84
2026-08-11: ₹16.31
2026-08-13: ₹16.28
2026-08-17: ₹16.19
2026-08-19: ₹16.15
2026-08-21: ₹16.28
2026-08-25: ₹16.24
2026-08-27: ₹15.91
2026-08-31: ₹16.36
2026-09-02: ₹16.03
2026-09-04: ₹16.57
2026-09-08: ₹16.42
2026-09-10: ₹16.05
2026-09-15: ₹15.81
2026-09-17: ₹15.85
2026-09-21: ₹16.10
2026-09-23: ₹16.04
2026-09-25: ₹15.92
2026-09-29: ₹15.87
2026-10-01: ₹15.98
2026-10-06: ₹15.76
2026-10-08: ₹15.61
2026-10-12: ₹15.53
2026-10-14: ₹15.32
2026-10-16: ₹15.37
2026-10-21: ₹15.25
2026-10-23: ₹14.31
2026-10-27: ₹14.89
2026-10-29: ₹15.14
2026-10-30: ₹15.02

Drawdown from peak

0% -26% -52% Jan '19Dec '22Oct '26 0% -26% -52% Jan '19Dec '22Oct '26
Largest drawdowns

-54.4% (2022-01 peak to 2023-03 low, recovered 2023-12)

-53.0% (2019-07 peak to 2020-03 low, recovered 2020-06)

-52.6% (2024-07 peak to 2026-10 low, not yet recovered)

Where does it rank among Distribution Services peers?

Each cell is the company's percentile rank among its Distribution 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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 Distribution Services sector page Watch it move against Distribution Services in the Observatory

What happened next to similar setups

−0.6%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 36 past situations where a non-financial company looked like SURANA TELECOM AND POWER LIMIT 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 −24% to +19% vs the market, against −6% for all non-financial companies in the same months.
  • The gap against the base rate (+4.9%, 80% range −1.6% to +14.0%) is within what chance and overlapping periods produce.

Where the 36 outcomes landed

−50%0%+50%+100%
VINDHYATEL · Mar 2024: −44.5% vs market
AFSL · Mar 2024: −35.9% vs market
RAMCOIND · Jun 2021: −35.2% vs market
SUNTECK · May 2025: −32.7% vs market
DVL · Feb 2025: −32.2% vs market
RADIANTCMS · Mar 2025: −31.3% vs market
ADOR · Aug 2024: −24.8% vs market
ESTER · May 2022: −24.4% vs market
ZODIACLOTH · Aug 2023: −24.1% vs market
MENONBE · Feb 2024: −23.7% vs market
GATEWAY · Oct 2025: −23.3% vs market
JINDRILL · Oct 2024: −16.5% vs market
SMARTLINK · Feb 2024: −14.2% vs market
HEXATRADEX · Jun 2024: −8.6% vs market
EIMCOELECO · Mar 2020: −2.7% vs market
ALEMBICLTD · Oct 2025: −2.2% vs market
GUJAPOLLO · Mar 2022: −2.1% vs market
SUMMITSEC · Apr 2021: −0.6% vs market
JUSTDIAL · Jan 2024: −0.5% vs market
GOCLCORP · Jun 2023: +1.9% vs market
ATLANTAA · May 2025: +7.5% vs market
AMJLAND · Apr 2023: +8.3% vs market
SILINV · Nov 2022: +14.0% vs market
SEAMECLTD · Jan 2025: +14.8% vs market
UNIDT · May 2025: +16.1% vs market
NATHBIOGEN · Apr 2025: +16.8% vs market
KRSNAA · Jan 2023: +17.7% vs market
PILANIINVS · Jun 2020: +23.1% vs market
SALZERELEC · Jul 2020: +32.1% vs market
BANARISUG · Mar 2021: +35.9% vs market
JKIL · Nov 2023: +36.0% vs market
HYBRIDFIN · May 2025: +37.1% vs market
ASHIMASYN · May 2023: +56.7% vs market
DEEPINDS · Jul 2024: +60.8% vs market
ROSSELLIND · Feb 2022: +103.4% vs market
KERNEX · Oct 2020: +198.0% vs market
Similar setups −0.6%All companies −5.5%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
−0.6%
All companies' median
−5.5%
Beat the market
47% vs 44%

36 past situations · 36 companies · 30 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GUJAPOLLO
Producer Manufacturing		 Mar 2022 6x2% +2%−19% −2%
MENONBE
Producer Manufacturing		 Feb 2024 23x— +31%−17% −24%
KERNEX
Electronic Technology		 Oct 2020 6x-8% −27%−28% +198%
HEXATRADEX
Distribution Services		 Jun 2024 12x4% +39%−5% −9%
SMARTLINK
Electronic Technology		 Feb 2024 9x2% +23%−12% −14%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DVL
Consumer Non-Durables		 Feb 2025 6x7% −17%−41% −32%
PILANIINVS
Finance		 Jun 2020 6x2% −38%−39% +23%
ESTER
Process Industries		 May 2022 8x— −1%−25% −24%
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 SURANA TELECOM AND POWER LIMIT. 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (94 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-106.2x₹60 cr18.2%-1.0%0.4x
2026-096.5x₹60 cr18.2%-1.0%0.4x
2026-088.9x₹60 cr12.7%-1.0%0.4x
2026-079.8x₹60 cr12.7%-1.0%0.4x
2026-0610.6x₹60 cr12.7%-1.0%0.4x
2026-059.2x₹41 cr17.5%1.0%0.0x
2026-049.5x₹41 cr17.5%1.0%0.0x
2026-037.9x₹41 cr17.5%1.0%0.0x
2026-0210.3x₹22 cr14.7%1.0%0.0x
2026-0110.4x₹22 cr14.7%1.0%0.0x
2025-1211.6x₹22 cr14.7%1.0%0.0x
2025-1110.9x₹16 cr16.1%1.0%0.0x
2025-1011.7x₹16 cr16.1%1.0%0.0x
2025-0912.0x₹16 cr16.1%1.0%0.0x
2025-0810.7x₹16 cr16.1%1.0%0.0x
2025-0710.6x₹16 cr16.1%1.0%0.0x
2025-0610.9x₹16 cr16.1%1.0%0.0x
2025-0527.2x₹18 cr7.4%4.0%0.0x
2025-0424.0x₹18 cr7.4%4.0%0.0x
2025-0325.5x₹18 cr7.4%4.0%0.0x
2025-0223.9x₹20 cr8.2%4.0%0.0x
2025-0129.5x₹20 cr8.2%4.0%0.0x
2024-1231.4x₹20 cr8.2%4.0%0.0x
2024-1131.2x₹23 cr7.4%4.0%0.0x
2024-1034.9x₹23 cr7.4%4.0%0.0x
2024-0936.5x₹23 cr7.4%4.0%0.0x
2024-0834.1x₹26 cr7.4%4.0%0.0x
2024-0741.2x₹26 cr7.4%4.0%0.0x
2024-0639.9x₹26 cr7.4%4.0%0.0x
2024-0545.8x₹28 cr4.4%0.0%0.1x
2024-0438.5x₹28 cr4.4%0.0%0.1x
2024-0337.7x₹28 cr4.4%0.0%0.1x
2024-0246.0x₹28 cr4.4%0.0%0.1x
2024-0148.7x₹28 cr4.4%0.0%0.1x
2023-1239.6x₹28 cr4.4%0.0%0.1x
2023-1127.9x₹28 cr4.4%0.0%0.1x
2023-1027.3x₹28 cr4.4%0.0%0.1x
2023-0931.0x₹28 cr4.4%0.0%0.1x
2023-0830.4x₹28 cr4.4%0.0%0.1x
2023-0725.6x₹28 cr4.4%0.0%0.1x
2023-0624.1x₹28 cr4.4%0.0%0.1x
2023-0516.1x₹29 cr7.5%7.0%0.2x
2023-0415.7x₹29 cr7.5%7.0%0.2x
2023-0314.4x₹29 cr7.5%7.0%0.2x
2023-0215.9x₹29 cr7.5%7.0%0.2x
2023-0119.8x₹29 cr7.5%7.0%0.2x
2022-1219.0x₹29 cr7.5%7.0%0.2x
2022-1118.6x₹29 cr7.5%7.0%0.2x
2022-1019.5x₹29 cr7.5%7.0%0.2x
2022-0919.4x₹29 cr7.5%7.0%0.2x
2022-0819.6x₹29 cr7.5%7.0%0.2x
2022-0721.2x₹29 cr7.5%7.0%0.2x
2022-0617.1x₹29 cr7.5%7.0%0.2x
2022-0545.2x₹29 cr3.1%5.0%0.4x
2022-0453.0x₹29 cr3.1%5.0%0.4x
2022-0341.0x₹29 cr3.1%5.0%0.4x
2022-0241.8x₹29 cr3.1%5.0%0.4x
2022-0163.4x₹29 cr3.1%5.0%0.4x
2021-1242.2x₹29 cr3.1%5.0%0.4x
2021-1130.2x₹29 cr3.1%5.0%0.4x
2021-1037.2x₹29 cr3.1%5.0%0.4x
2021-0936.8x₹29 cr3.1%5.0%0.4x
2021-0825.6x₹29 cr3.1%5.0%0.4x
2021-0726.2x₹29 cr3.1%5.0%0.4x
2021-0626.8x₹29 cr3.1%5.0%0.4x
2021-0510.3x₹29 cr7.5%5.0%0.4x
2021-048.1x₹29 cr7.5%5.0%0.4x
2021-038.0x₹29 cr7.5%5.0%0.4x
2021-029.0x₹29 cr7.5%5.0%0.4x
2021-019.3x₹29 cr7.5%5.0%0.4x
2020-1211.4x₹29 cr7.5%5.0%0.4x
2020-117.5x₹29 cr7.5%5.0%0.4x
2020-107.5x₹29 cr7.5%5.0%0.4x
2020-097.5x₹29 cr7.5%5.0%0.4x
2020-087.7x₹29 cr7.5%5.0%0.4x
2020-077.3x₹29 cr7.5%5.0%0.4x
2020-068.7x₹29 cr7.5%5.0%0.4x
2020-057.0x₹36 cr6.7%7.0%0.5x
2020-047.6x₹36 cr6.7%7.0%0.5x
2020-035.7x₹36 cr6.7%7.0%0.5x
2020-028.5x₹36 cr6.7%7.0%0.5x
2020-019.4x₹36 cr6.7%7.0%0.5x
2019-128.6x₹36 cr6.7%7.0%0.5x
2019-118.2x₹36 cr6.7%7.0%0.5x
2019-108.3x₹36 cr6.7%7.0%0.5x
2019-097.7x₹36 cr6.7%7.0%0.5x
2019-089.0x₹36 cr6.7%7.0%0.5x
2019-079.5x₹36 cr6.7%7.0%0.5x
2019-069.6x₹36 cr6.7%7.0%0.5x
2019-0529.6x₹35 cr2.0%4.0%0.6x
2019-0430.4x₹35 cr2.0%4.0%0.6x
2019-0329.6x₹35 cr2.0%4.0%0.6x
2019-0230.4x₹35 cr2.0%4.0%0.6x
2019-0131.4x₹35 cr2.0%4.0%0.6x

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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