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TANLA PLATFORMS LIMITED (TANLA)

Technology Services · Information Technology Services · figures to Nov '26

Divergence: price ahead of business (2 months)
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.69 / 100
Profitability 65Growth 42Balance 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.51 / 100
Price 72Earnings 40FII/DII 41

Passes these screensDebt-light & profitablePrice ahead of businessLittle growth priced inNear 52-week high

Compare withTATA CONSULTANCY SERVICESINFOSYSHCL TECHNOLOGIES

Share price

Closing priceAdjusted for splits and bonus issues.

₹648.6 latest close · +20.3% over the last 90 sessions

₹500₹600Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹500₹600Jul 3Sep 4Nov 9

₹648.6 month-end · +17.1% over 12 months

₹400₹500₹600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹400₹500₹600Nov '25May '26Nov '26

₹648.6 month-end · −29.2% over 3 years

₹500₹750₹1,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹500₹750₹1,000Nov '23May '25Nov '26

₹648.6 month-end · +1552.5% since Jan '19

₹0₹1,000₹2,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹1,000₹2,000Jan '19Dec '22Nov '26

52-week range ₹365.90 to ₹681.55 · 1-year volatility 44.7%

Was the rally earned?

+17%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 12 points to the rise, while the multiple moved less (P/E 15.4x to 16.1x).
  • The share count barely moved.
Net profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11 ptsNet profit growthP/E change: +5 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+5 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: +17%+17%Share priceNet profit growth: +11 pts. Points of the price return explained by net profit growing (or shrinking).+11ProfitP/E change: +5 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+5P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: +17%+17%Share price
Net profit growth+11 ptsNet profit rose about 10%, which lifts the price.
P/E change+5 ptsThe P/E rose from 15.4x to 16.1x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-29%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 16 points, but investors now pay less per rupee of profit (P/E 27.5x to 16.1x), which took 45 points back.
  • The share count barely moved.
Net profit growth: +15 pts. Points of the price return explained by net profit growing (or shrinking).+15 ptsNet profit growthP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45 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: −29%−29%Share priceNet profit growth: +15 pts. Points of the price return explained by net profit growing (or shrinking).+15ProfitP/E change: −45 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−45P/EShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price.+1SharesShare price: −29%−29%Share price
Net profit growth+15 ptsNet profit rose about 19%, which lifts the price.
P/E change-45 ptsThe P/E fell from 27.5x to 16.1x, which lowers the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-57%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 29 points, but investors now pay less per rupee of profit (P/E 57.3x to 16.1x), which took 86 points back.
  • The share count fell 2%.
Net profit growth: +27 pts. Points of the price return explained by net profit growing (or shrinking).+27 ptsNet profit growthP/E change: −86 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−86 ptsP/E changeShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2 ptsShare count changeShare price: −57%−57%Share priceNet profit growth: +27 pts. Points of the price return explained by net profit growing (or shrinking).+27ProfitP/E change: −86 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−86P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: −57%−57%Share price
Net profit growth+27 ptsNet profit rose about 50%, which lifts the price.
P/E change-86 ptsThe P/E fell from 57.3x to 16.1x, which lowers the price.
Share count change+2 ptsShare count fell 2%, which lifts 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 TATA CONSULTANCY SERVICES

How rough has the ride been?

Maximum drawdown-81.7%not yet recovered
1-year volatility44.7%annualised
Beta vs sector index0.683-year daily, correlation 0.30
Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−80.7% 0%−25%−50%−75%2020202220242026−80.7%
Largest drawdowns

-81.7% (2022-01 peak to 2026-03 low, not yet recovered)

-54.9% (2020-02 peak to 2020-03 low, recovered 2020-07)

-40.9% (2019-06 peak to 2019-11 low, recovered 2020-01)

Most recent volume spikes

2026-10-29: 6x the 50-day median, price +3.3% that day

2026-10-28: 8.8x the 50-day median, price +3.4% that day

2026-10-22: 7.4x the 50-day median, price +3.4% 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?

16.1xP/E todayWithin its usual range
Against its own history23rd percentile
CheapestMedian 21.7xDearest

Usual range 13.9x to 36.3x since 2019-01.

Against Technology Services16.1x vs 21.1x
This company
16.1x
Sector median
21.1x

23% below the Technology Services median.

7.4x28.9x50.4x71.9xJan '19Aug '20Mar '22Oct '23May '25Nov '267.4x28.9x50.4x71.9xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services 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 Technology Services is valued

Where does it rank among Technology Services peers?

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

Where it ranks today

  • ROCE75thflat vs a year ago
  • Op. margin54thflat vs a year ago
  • Revenue growth52nd▲ 23 pts vs a year ago
  • EPS growth53rd▲ 21 pts vs a year ago
  • Debt/equity ↓74thflat vs a year ago
  • Cash cycle ↓49th▲ 5 pts vs a year ago
  • P/E ↓64th▼ 21 pts vs a year ago
  • 12M momentum84th▲ 32 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 Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~11%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 16.8x, a holder earning 12%/yr needs earnings to grow about 11.2%/yr for 10 years, then trade at 15x.

Delivered47.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−36.2 ptsimplied minus delivered
Rank839thmost demanding of 856

Over time

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

0%33%66% Jan 2019Nov 2026 0%33%66% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x12.4%13.4%14.4%
15x10.2%11.2%12.2%
20x7.4%8.3%9.3%

Drag a slider to test other assumptions

Implied: 11.2%/yr

Looking back

  • Jan 2020Price implied 24%/yr; EPS has since grown 48%/yr (7.0 yrs)
  • Jan 2022Price implied 59%/yr; EPS has since grown 9%/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 Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹648.60
P/E
16.1x
ROCE
26.0%
Market Cap
₹8605 cr
Revenue (TTM)
₹4603 cr
P/S
1.9x
P/B
3.5x
ROE
21.4%
Operating Margin
16.0%
Debt / Equity
0.0x
Promoter Holding
46.2%
12M Momentum
17.1%

52-week range

₹365.90₹681.55
90% of the way from its 52-week low to its high

Price risk

1Y volatility
44.7%
Beta vs sector
1-year daily
0.95

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
1.15x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance6%Within range

Other income as a share of pre-tax profit (trailing twelve months): 5.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate20%Within range

Median quarterly effective tax rate over about 2.5 years: 20.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.15xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.15x (cash from operations ₹1,806 cr, net profit ₹1,564 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history+6 daysWithin range

Debtor days are above the median of the previous three fiscal years by 6 days (82 vs 76). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress7% of fixed assetsWithin range

Capital work-in-progress is 7% 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.

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 2 years, FIIs trimmed 7.8 pts; promoters added 2.0 pts; DIIs trimmed 0.5 pts.
  • The number of shareholders rose from 2.2 lakh to 2.6 lakh (+21%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters44.2%46.2%+2.0 pts
FIIs15.5%7.6%-7.8 pts
DIIs0.9%0.4%-0.5 pts
Public and others39.5%45.4%+5.9 pts

Number of shareholders

2.6 lakhshareholders+21% since Dec '23
2.2L2.5L2.8L3.1L Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 2.2 lakh
Mar '24: 2.4 lakh
Jun '24: 2.4 lakh
Sep '24: 2.6 lakh
Dec '24: 2.8 lakh
Mar '25: 3.0 lakh
Jun '25: 3.1 lakh
Sep '25: 2.8 lakh
Dec '25: 2.8 lakh
Mar '26: 2.7 lakh
Jun '26: 2.6 lakh
 2.2L2.5L2.8L3.1L Dec '23Dec '24Dec '25Jun '26
Dec '23: 2.2 lakh
Mar '24: 2.4 lakh
Jun '24: 2.4 lakh
Sep '24: 2.6 lakh
Dec '24: 2.8 lakh
Mar '25: 3.0 lakh
Jun '25: 3.1 lakh
Sep '25: 2.8 lakh
Dec '25: 2.8 lakh
Mar '26: 2.7 lakh
Jun '26: 2.6 lakh

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

+8.7%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like TANLA PLATFORMS LIMITED 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 −22% to +20% vs the market, against −6% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +14.6%, 80% range +2.6% to +20.0%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
IPL · Jan 2024: −61.3% vs market
TVTODAY · Nov 2021: −44.1% vs market
ARE&M · Jun 2024: −43.2% vs market
NUCLEUS · May 2025: −41.7% vs market
MAITHANALL · Mar 2022: −36.5% vs market
STYRENIX · Dec 2024: −35.8% vs market
NATIONALUM · Feb 2022: −34.9% vs market
BDL · Jun 2020: −34.3% vs market
IGL · Oct 2025: −30.6% vs market
FLAIR · Jul 2025: −28.6% vs market
VEEDOL · Jun 2024: −27.9% vs market
MGL · Sep 2024: −27.7% vs market
INTELLECT · Nov 2023: −24.5% vs market
LGBBROSLTD · Jun 2023: −14.6% vs market
ENGINERSIN · Dec 2023: −9.7% vs market
STARCEMENT · Apr 2024: −9.4% vs market
DHANUKA · Apr 2024: −8.1% vs market
GAEL · Mar 2022: −5.9% vs market
GNFC · Feb 2022: −4.5% vs market
LINCOLN · Sep 2020: −3.5% vs market
FINPIPE · Mar 2023: −2.8% vs market
VESUVIUS · Apr 2024: +0.7% vs market
DATAMATICS · Mar 2025: +2.1% vs market
AVANTIFEED · Jan 2025: +6.2% vs market
RSYSTEMS · May 2023: +7.0% vs market
ZENSARTECH · Jun 2024: +10.4% vs market
GPIL · Dec 2023: +13.6% vs market
SKFINDIA · Jun 2022: +13.9% vs market
SHARDAMOTR · May 2024: +14.3% vs market
MARKSANS · Jul 2024: +14.5% vs market
FORCEMOT · Jun 2025: +15.3% vs market
DODLA · Aug 2024: +15.8% vs market
SASKEN · Sep 2020: +17.6% vs market
FIEMIND · Sep 2024: +18.1% vs market
BEL · Jan 2021: +18.5% vs market
KINGFA · Dec 2024: +19.1% vs market
RITES · Apr 2023: +20.2% vs market
INDRAMEDCO · Aug 2024: +20.3% vs market
WINDLAS · Jul 2024: +27.1% vs market
VOLTAMP · Dec 2023: +32.2% vs market
FINCABLES · Jan 2023: +42.8% vs market
MPSLTD · May 2024: +46.6% vs market
ACCENTMIC · Jul 2025: +52.6% vs market
ECLERX · Jan 2021: +75.0% vs market
PERSISTENT · Jan 2020: +82.6% vs market
GRSE · Sep 2022: +107.9% vs market
BAJAJCON · Sep 2025: +108.0% vs market
GODFRYPHLP · Oct 2023: +109.9% vs market
NBCC · Aug 2023: +146.0% vs market
MAZDOCK · Aug 2022: +331.3% vs market
Similar setups +8.7%All companies −5.9%← 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
+8.7%
All companies' median
−5.9%
Beat the market
58% vs 43%

50 past situations · 50 companies · 34 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DATAMATICS
Technology Services		 Mar 2025 18x21% +20%−9% +2%
ENGINERSIN
Industrial Services		 Dec 2023 28x24% +117%−1% −10%
DHANUKA
Process Industries		 Apr 2024 26x27% +117%0% −8%
AVANTIFEED
Process Industries		 Jan 2025 23x20% +36%−8% +6%
FIEMIND
Producer Manufacturing		 Sep 2024 26x27% +95%0% +18%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
IGL
Utilities		 Oct 2025 18x21% +1%−7% −31%
SHARDAMOTR
Producer Manufacturing		 May 2024 22x40% +104%−2% +14%
BDL
Electronic Technology		 Jun 2020 11x31% −2%−5% −34%
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, P/E and debt/equity. 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 TANLA PLATFORMS LIMITED. 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.

JAMNA AUTO INDUSTRIESJAMNAAUTO
Producer Manufacturing
69%similar
ROCEvolatility
ECLERX SERVICESECLERX
Commercial Services
64%similar
revenueP/E
L G BALKRISHNAN & BROSLGBBROSLTD
Producer Manufacturing
64%similar
P/EEPS growth
ENGINEERS INDIAENGINERSIN
Industrial Services
63%similar
revenueoperating margin
VOLTAMP TRANSFORMERSVOLTAMP
Producer Manufacturing
61%similar
market capROCE
BIRLASOFTBSOFT
Technology Services
71%similar
operating marginP/E
INTELLECT DESIGN ARENAINTELLECT
Technology Services
68%similar
market caprevenue growth
MASTEKMASTEK
Technology Services
68%similar
operating marginrevenue

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

What changed?

30 events since Feb '23

  1. OctPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).
  2. OctPriceVolume reached 8.8x its 50-day median on 2026-10-28; price +3.4% that day.
  3. SepPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  4. JulPriceVolume reached 68.2x its 50-day median on 2026-07-23; price +10.1% that day.
  5. JunResultsYear-on-year EPS growth turned positive.
  6. JunValuationP/E fell below the 10th percentile of its own history to date (13.9x).
  7. AprPriceVolume reached 43.8x its 50-day median on 2026-04-27; price +20.0% that day.
  8. MarPriceFell 82% from the Jan 2022 peak to the Mar 2026 low.
Show 22 earlier events
  1. JanPriceVolume reached 85.6x its 50-day median on 2026-01-23; price +7.3% that day.
  2. SepPeer rankMoved into the 2nd quartile of Technology Services on operating margin (from the 3rd quartile).
  3. AugValuationP/E fell below the 10th percentile of its own history to date (16.4x).
  4. AugPriceVolume reached 29.7x its 50-day median on 2025-08-05; price +11.6% that day.
  5. JunResultsYear-on-year EPS growth turned negative.
  6. JunInstitutionsFII + DII holding fell 4.2 pts over 2 quarters to 11.2%.
  7. JunPeer rankSlipped to the 3rd quartile of Technology Services on operating margin (from the 2nd quartile).
  8. MayPriceVolume reached 26.9x its 50-day median on 2025-05-13; price +12.7% that day.
  9. JanPriceVolume reached 73.9x its 50-day median on 2025-01-01; price +11.6% that day.
  10. DecPeer rankSlipped to the 3rd quartile of Technology Services on EPS growth (from the 2nd quartile).
  11. NovValuationP/E fell below the 10th percentile of its own history to date (17.0x).
  12. JulPriceVolume reached 42.2x its 50-day median on 2024-07-15; price +4.7% that day.
  13. JunResultsYear-on-year EPS growth turned positive.
  14. JunPeer rankMoved into the 2nd quartile of Technology Services on EPS growth (from the 3rd quartile).
  15. AprPriceVolume reached 20.0x its 50-day median on 2024-04-10; price +7.5% that day.
  16. JanPriceVolume reached 15.7x its 50-day median on 2024-01-10; price +10.2% that day.
  17. DecPriceVolume reached 53.0x its 50-day median on 2023-12-13; price +17.9% that day.
  18. JulPriceVolume reached 16.6x its 50-day median on 2023-07-21; price +13.3% that day.
  19. JunResultsYear-on-year EPS growth turned negative.
  20. JunPeer rankSlipped to the 3rd quartile of Technology Services on EPS growth (from the 2nd quartile).
  21. JunPriceVolume reached 26.3x its 50-day median on 2023-06-14; price +3.7% that day.
  22. FebPriceVolume reached 16.9x its 50-day median on 2023-02-16; price +8.0% 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 history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1116.1x₹4603 cr21.4%26.0%0.0x
2026-1015.6x₹4603 cr21.4%26.0%0.0x
2026-0912.2x₹4603 cr21.4%26.0%0.0x
2026-0813.9x₹4418 cr20.4%26.0%0.0x
2026-0715.3x₹4418 cr20.4%26.0%0.0x
2026-0613.9x₹4418 cr20.4%26.0%0.0x
2026-0514.3x₹4264 cr21.6%29.0%0.0x
2026-0413.9x₹4264 cr21.6%29.0%0.0x
2026-0310.2x₹4264 cr21.6%29.0%0.0x
2026-0212.7x₹4143 cr21.1%29.0%0.0x
2026-0114.3x₹4143 cr21.1%29.0%0.0x
2025-1214.7x₹4143 cr21.1%29.0%0.0x
2025-1115.4x₹4066 cr21.3%29.0%0.0x
2025-1017.0x₹4066 cr21.3%29.0%0.0x
2025-0918.2x₹4066 cr21.3%29.0%0.0x
2025-0816.4x₹4027 cr22.4%29.0%0.0x
2025-0716.6x₹4027 cr22.4%29.0%0.0x
2025-0617.1x₹4027 cr22.4%29.0%0.0x
2025-0516.0x₹4009 cr26.8%38.0%0.0x
2025-0412.3x₹4009 cr26.8%38.0%0.0x
2025-0312.1x₹4009 cr26.8%38.0%0.0x
2025-0210.8x₹4012 cr27.9%38.0%0.0x
2025-0113.7x₹4012 cr27.9%38.0%0.0x
2024-1216.7x₹4012 cr27.9%38.0%0.0x
2024-1117.0x₹4020 cr28.5%38.0%0.0x
2024-1018.3x₹4020 cr28.5%38.0%0.0x
2024-0921.8x₹4020 cr28.5%38.0%0.0x
2024-0822.8x₹3928 cr28.2%38.0%0.0x
2024-0724.4x₹3928 cr28.2%38.0%0.0x
2024-0623.1x₹3928 cr28.2%38.0%0.0x
2024-0527.6x₹3355 cr29.5%38.0%0.1x
2024-0427.5x₹3355 cr29.5%38.0%0.1x
2024-0324.6x₹3355 cr29.5%38.0%0.1x
2024-0229.4x₹3355 cr29.5%38.0%0.1x
2024-0130.9x₹3355 cr29.5%38.0%0.1x
2023-1232.9x₹3355 cr29.5%38.0%0.1x
2023-1127.5x₹3355 cr29.5%38.0%0.1x
2023-1028.6x₹3355 cr29.5%38.0%0.1x
2023-0931.1x₹3355 cr29.5%38.0%0.1x
2023-0829.3x₹3355 cr29.5%38.0%0.1x
2023-0736.0x₹3355 cr29.5%38.0%0.1x
2023-0630.7x₹3355 cr29.5%38.0%0.1x
2023-0519.8x₹3206 cr39.8%59.0%0.0x
2023-0417.0x₹3206 cr39.8%59.0%0.0x
2023-0313.2x₹3206 cr39.8%59.0%0.0x
2023-0217.0x₹3206 cr39.8%59.0%0.0x
2023-0116.3x₹3206 cr39.8%59.0%0.0x
2022-1218.0x₹3206 cr39.8%59.0%0.0x
2022-1119.9x₹3206 cr39.8%59.0%0.0x
2022-1018.7x₹3206 cr39.8%59.0%0.0x
2022-0919.8x₹3206 cr39.8%59.0%0.0x
2022-0818.1x₹3206 cr39.8%59.0%0.0x
2022-0717.5x₹3206 cr39.8%59.0%0.0x
2022-0625.3x₹3206 cr39.8%59.0%0.0x
2022-0550.7x₹2341 cr39.8%52.0%0.0x
2022-0454.2x₹2341 cr39.8%52.0%0.0x
2022-0358.3x₹2341 cr39.8%52.0%0.0x
2022-0259.8x₹2341 cr39.8%52.0%0.0x
2022-0166.8x₹2341 cr39.8%52.0%0.0x
2021-1271.9x₹2341 cr39.8%52.0%0.0x

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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