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TATA COMMUNICATIONS LIMITED (TATACOMM)

Communications · Major Telecommunications · 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.43 / 100
Profitability 60Growth 58Balance sheet 11
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.61 / 100
Price 60Earnings 37FII/DII 85
Compare withBHARTI HEXACOMRAILTEL CORPORATION OF INDROUTE MOBILE

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,700.4 latest close · −10.8% over the last 90 sessions

₹1,700₹1,800₹1,900Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,700₹1,800₹1,900Jul 3Sep 4Nov 9

₹1,700.4 month-end · −6.3% over 12 months

₹1,400₹1,600₹1,800₹2,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,400₹1,600₹1,800₹2,000Nov '25May '26Nov '26

₹1,700.4 month-end · −0.3% over 3 years

₹1,500₹1,750₹2,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,500₹1,750₹2,000Nov '23May '25Nov '26

₹1,700.4 month-end · +243.0% since Jan '19

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

52-week range ₹1322.50 to ₹2110.00 · 1-year volatility 31.7%

Was the rally earned?

-6%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 56 points, while the multiple moved less (P/E 30.5x to 51.2x).
  • The share count barely moved.
Net profit growth: −56 pts. Points of the price return explained by net profit growing (or shrinking).−56 ptsNet profit growthP/E change: +50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+50 ptsP/E changeShare price: −6%−6%Share priceNet profit growth: −56 pts. Points of the price return explained by net profit growing (or shrinking).−56ProfitP/E change: +50 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+50P/EShare price: −6%−6%Share price
Net profit growth-56 ptsNet profit fell about 44%, which lowers the price.
P/E change+50 ptsThe P/E rose from 30.5x to 51.2x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-0%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (-0%).
  • The share count barely moved.
Net profit growth: −64 pts. Points of the price return explained by net profit growing (or shrinking).−64 ptsNet profit growthP/E change: +64 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+64 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: 0%0%Share priceNet profit growth: −64 pts. Points of the price return explained by net profit growing (or shrinking).−64ProfitP/E change: +64 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+64P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: 0%0%Share price
Net profit growth-64 ptsNet profit growth over the period.
P/E change+64 ptsThe P/E rose from 27.1x to 51.2x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+31%share price, 5 yearsMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 29.6x to 51.2x); per-share earnings took off 32 points.
  • The share count barely moved.
Net profit growth: −32 pts. Points of the price return explained by net profit growing (or shrinking).−32 ptsNet profit growthP/E change: +63 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+63 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: +31%+31%Share priceNet profit growth: −32 pts. Points of the price return explained by net profit growing (or shrinking).−32ProfitP/E change: +63 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+63P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +31%+31%Share price
Net profit growth-32 ptsNet profit fell about 24%, which lowers the price.
P/E change+63 ptsThe P/E rose from 29.6x to 51.2x, which lifts 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 BHARTI HEXACOM

How rough has the ride been?

Maximum drawdown-65.0%recovered 2020-06
1-year volatility31.7%annualised
Beta vs sector index0.483-year daily, correlation 0.33
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−62.8% 0%−20%−40%−60%2020202220242026−62.8%
Largest drawdowns

-65.0% (2019-03 peak to 2020-03 low, recovered 2020-06)

-44.1% (2022-01 peak to 2022-06 low, recovered 2023-06)

-39.0% (2024-10 peak to 2025-03 low, not yet recovered)

Most recent volume spikes

2026-10-16: 5.4x the 50-day median, price -1.2% that day

2026-10-15: 24.4x the 50-day median, price +6.3% 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?

51.2xP/E todayNear its historic high
Against its own history88th percentile
CheapestMedian 28.9xDearest

Usual range 23.5x to 53.4x since 2019-01.

Against Communications51.2x vs 42.0x
This company
51.2x
Sector median
42.0x

22% above the Communications median.

11.4x30.1x48.9x67.6xJan '19Aug '20Mar '22Oct '23May '25Nov '2611.4x30.1x48.9x67.6xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianCommunications median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianCommunications 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 Communications is valued

Where does it rank among Communications peers?

Each cell is the company's percentile rank among its Communications 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

  • ROCE62nd▼ 5 pts vs a year ago
  • Op. margin58th▲ 8 pts vs a year ago
  • Revenue growth79th▲ 22 pts vs a year ago
  • EPS growth29th▼ 46 pts vs a year ago
  • Debt/equity ↓9thflat vs a year ago
  • Cash cycle ↓36th▼ 10 pts vs a year ago
  • P/E ↓22nd▼ 28 pts vs a year ago
  • 12M momentum79th▲ 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 Communications sector page Watch it move against Communications in the Observatory

What is the price implying?

~19%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 33.8x, a holder earning 12%/yr needs earnings to grow about 19.2%/yr for 10 years, then trade at 15x.

Delivered24.3%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−5.1 ptsimplied minus delivered
Rank629thmost demanding of 856

Over time

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

-3%16%36% Jun 2021Nov 2026 -3%16%36% Jun 2021Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x20.5%21.6%22.7%
15x18.2%19.2%20.3%
20x15.2%16.2%17.2%

Drag a slider to test other assumptions

Implied: 19.2%/yr

Looking back

  • Jan 2022Price implied 34%/yr; EPS has since grown −5%/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.

The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹1700.40
P/E
51.2x
ROCE
15.0%
Market Cap
₹48487 cr
Revenue (TTM)
₹25426 cr
P/S
1.9x
P/B
14.1x
ROE
27.5%
Operating Margin
19.0%
Debt / Equity
3.6x
Promoter Holding
58.9%
12M Momentum
-6.3%

52-week range

₹1322.50₹2110.00
48% of the way from its 52-week low to its high

Price risk

1Y volatility
31.7%
Beta vs sector
1-year daily
0.38

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.8x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.78x
Share count, 1Y
unchanged

Are profits backed by cash?

6 of 6checks within rangeAll clear
Other income reliance8%Within range

Other income as a share of pre-tax profit (trailing twelve months): 8.5%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate30%Within range

Median quarterly effective tax rate over about 2.5 years: 30.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.78xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.78x (cash from operations ₹10,572 cr, net profit ₹3,804 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-2 daysWithin range

Debtor days are below the median of the previous three fiscal years by 2 days (61 vs 63). 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—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 3 years, DIIs added 6.3 pts; FIIs trimmed 3.8 pts.
  • The number of shareholders fell from 1.9 lakh to 1.7 lakh (-7%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters58.9%58.9%0.0 pts
FIIs17.5%13.8%-3.8 pts
DIIs13.6%19.9%+6.3 pts
Public and others10.1%7.5%-2.5 pts

Number of shareholders

1.7 lakhshareholders-7% since Sep '23
1.7L1.8L1.9L2.0L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 1.9 lakh
Dec '23: 2.0 lakh
Mar '24: 1.9 lakh
Jun '24: 2.0 lakh
Sep '24: 1.9 lakh
Dec '24: 1.9 lakh
Mar '25: 1.9 lakh
Jun '25: 1.9 lakh
Sep '25: 1.9 lakh
Dec '25: 1.8 lakh
Mar '26: 1.8 lakh
Jun '26: 1.7 lakh
 1.7L1.8L1.9L2.0L Sep '23Sep '24Sep '25Jun '26
Sep '23: 1.9 lakh
Dec '23: 2.0 lakh
Mar '24: 1.9 lakh
Jun '24: 2.0 lakh
Sep '24: 1.9 lakh
Dec '24: 1.9 lakh
Mar '25: 1.9 lakh
Jun '25: 1.9 lakh
Sep '25: 1.9 lakh
Dec '25: 1.8 lakh
Mar '26: 1.8 lakh
Jun '26: 1.7 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

+6.7%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like TATA COMMUNICATIONS 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 −13% to +28% vs the market, against −7% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +13.7%, 80% range +5.6% to +22.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
DBL · Oct 2021: −65.5% vs market
BATAINDIA · Sep 2025: −45.4% vs market
MOTHERSON · May 2021: −43.7% vs market
MHRIL · Oct 2025: −42.6% vs market
GMMPFAUDLR · Feb 2025: −28.6% vs market
SHOPERSTOP · Aug 2024: −27.7% vs market
EVEREADY · Aug 2023: −26.8% vs market
JBMA · Oct 2025: −25.7% vs market
UPL · Feb 2020: −20.6% vs market
MOTILALOFS · Sep 2020: −19.3% vs market
PCBL · Oct 2025: −19.2% vs market
YASHO · Apr 2025: −16.5% vs market
TVSMOTOR · Mar 2021: −13.4% vs market
APOLLOHOSP · Jul 2023: −13.3% vs market
INDIGO · Sep 2025: −11.4% vs market
GREENLAM · Mar 2025: −11.0% vs market
TATAPOWER · Jul 2025: −9.2% vs market
PRSMJOHNSN · Aug 2021: −9.0% vs market
JKCEMENT · Aug 2023: −8.2% vs market
LT · Mar 2020: −2.4% vs market
ARVINDFASN · May 2025: −2.0% vs market
GODREJIND · Jan 2025: +3.1% vs market
VRLLOG · Feb 2025: +4.2% vs market
JUBLFOOD · Aug 2024: +4.7% vs market
M&M · May 2020: +6.3% vs market
GRASIM · Jul 2025: +7.2% vs market
ASAHIINDIA · Jun 2025: +11.8% vs market
TORNTPOWER · Jun 2022: +13.4% vs market
BLUEDART · Dec 2021: +17.5% vs market
ADANIENT · Jun 2025: +19.3% vs market
HATSUN · Sep 2025: +19.7% vs market
KEC · Jul 2022: +20.1% vs market
JKLAKSHMI · Mar 2020: +22.9% vs market
WELSPUNLIV · Feb 2020: +23.1% vs market
IRB · Jun 2021: +24.9% vs market
BHARTIARTL · Aug 2023: +26.0% vs market
HCG · Dec 2024: +28.2% vs market
ASTERDM · Mar 2022: +28.4% vs market
BBTC · Mar 2023: +30.0% vs market
ASHOKLEY · Nov 2024: +31.2% vs market
JSWSTEEL · Feb 2021: +32.2% vs market
MINDACORP · Aug 2025: +32.6% vs market
BHARATFORG · Mar 2025: +47.2% vs market
BRIGADE · Jun 2023: +60.0% vs market
CRAFTSMAN · Jun 2025: +69.5% vs market
PRIVISCL · Jul 2024: +70.0% vs market
KIRLOSENG · Oct 2025: +89.8% vs market
VBL · Jan 2022: +91.3% vs market
SCHNEIDER · Aug 2022: +137.7% vs market
KALYANKJIL · Oct 2022: +156.5% vs market
Similar setups +6.7%All companies −7.0%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
+6.7%
All companies' median
−7.0%
Beat the market
58% vs 42%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TVSMOTOR
Consumer Durables		 Mar 2021 45x13% +97%−10% −13%
HATSUN
Consumer Non-Durables		 Sep 2025 72x13% −23%−23% +20%
MHRIL
Consumer Services		 Oct 2025 51x10% −13%−15% −43%
BHARATFORG
Producer Manufacturing		 Mar 2025 61x13% +4%−35% +47%
TATAPOWER
Utilities		 Jul 2025 32x11% −12%−18% −9%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
KIRLOSENG
Producer Manufacturing		 Oct 2025 31x14% −13%−16% +90%
GODREJIND
Process Industries		 Jan 2025 74x6% −1%−28% +3%
JKCEMENT
Non-Energy Minerals		 Aug 2023 60x10% +21%−4% −8%
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, interest cover 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 TATA COMMUNICATIONS 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.

PRESTIGE ESTATES PROJECTS LIMIPRESTIGE
Finance
66%similar
market cappromoter holding
GRASIM INDUSTRIESGRASIM
Non-Energy Minerals
62%similar
debt/equityrevenue
ASAHI INDIA GLASSASAHIINDIA
Consumer Durables
61%similar
volatilityP/E
NARAYANA HRUDAYALAYANH
Health Services
61%similar
market capvolatility
TORRENT POWERTORNTPOWER
Utilities
60%similar
operating marginvolatility
BHARTI HEXACOMBHARTIHEXA
Communications
48%similar
market capP/E
BHARTI AIRTELBHARTIARTL
Communications
30%similar
revenuedebt/equity
INDUS TOWERSINDUSTOWER
Communications
13%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 Jul '22

  1. OctPriceVolume reached 24.4x its 50-day median on 2026-10-15; price +6.3% that day.
  2. JunResultsYear-on-year EPS growth turned negative.
  3. JunPeer rankSlipped to the 3rd quartile of Communications on EPS growth (from the top quartile).
  4. AprPriceVolume reached 11.2x its 50-day median on 2026-04-23; price +3.7% that day.
  5. MarValuationP/E fell below the 10th percentile of its own history to date (21.6x).
  6. JanPriceVolume reached 10.8x its 50-day median on 2026-01-22; price -4.3% that day.
  7. OctPriceVolume reached 62.6x its 50-day median on 2025-10-10; price +10.2% that day.
  8. SepPeer rankMoved into the top quartile of Communications on EPS growth (from the 2nd quartile).
Show 22 earlier events
  1. AugPriceVolume reached 13.8x its 50-day median on 2025-08-21; price -3.4% that day.
  2. JunResultsYear-on-year EPS growth turned positive.
  3. JunPeer rankSlipped to the 2nd quartile of Communications on ROCE (from the top quartile).
  4. AprPriceVolume reached 6.4x its 50-day median on 2025-04-23; price -0.9% that day.
  5. MarPriceFell 39% from the Oct 2024 peak to the Mar 2025 low.
  6. MarPriceVolume reached 18.2x its 50-day median on 2025-03-11; price +8.7% that day.
  7. SepPeer rankMoved into the 3rd quartile of Communications on EPS growth (from the bottom quartile).
  8. SepPriceVolume reached 7.4x its 50-day median on 2024-09-25; price +5.2% that day.
  9. JunResultsYear-on-year EPS growth turned negative.
  10. JunPeer rankSlipped to the bottom quartile of Communications on EPS growth (from the 2nd quartile).
  11. MarValuationP/E crossed above the 90th percentile of its own history to date (31.9x).
  12. JanPriceVolume reached 7.1x its 50-day median on 2024-01-18; price +4.2% that day.
  13. NovPriceVolume reached 26.6x its 50-day median on 2023-11-30; price -0.4% that day.
  14. JulPriceVolume reached 10.3x its 50-day median on 2023-07-11; price +6.9% that day.
  15. JunResultsRevenue (TTM) reached a new high of ₹17,838 cr.
  16. JunPriceRegained the 2022-01 peak, 12 months after the low.
  17. JunPeer rankSlipped to the 2nd quartile of Communications on EPS growth (from the top quartile).
  18. AprPriceVolume reached 14.2x its 50-day median on 2023-04-20; price +3.3% that day.
  19. JanDebtDebt / equity halved over 12 months to 9.83x.
  20. DecPeer rankMoved into the top quartile of Communications on EPS growth (from the 2nd quartile).
  21. DecPriceVolume reached 10.3x its 50-day median on 2022-12-13; price +7.1% that day.
  22. JulPriceVolume reached 12.0x its 50-day median on 2022-07-21; price +10.0% 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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1151.2x₹25426 cr27.5%15.0%3.6x
2026-1050.5x₹25426 cr27.2%15.0%3.6x
2026-0949.9x₹25426 cr27.2%15.0%3.6x
2026-0849.0x₹24803 cr28.9%15.0%3.6x
2026-0750.0x₹24803 cr28.9%15.0%3.6x
2026-0656.1x₹24803 cr28.9%15.0%3.6x
2026-0531.5x₹24239 cr58.9%15.0%4.1x
2026-0425.3x₹24239 cr58.9%15.0%4.1x
2026-0321.6x₹24239 cr58.9%15.0%4.1x
2026-0227.6x₹23848 cr54.6%15.0%4.1x
2026-0127.1x₹23848 cr54.6%15.0%4.1x
2025-1231.5x₹23848 cr54.6%15.0%4.1x
2025-1130.5x₹23476 cr56.1%15.0%4.1x
2025-1031.6x₹23476 cr56.1%15.0%4.1x
2025-0927.2x₹23476 cr56.1%15.0%4.1x
2025-0824.0x₹23108 cr60.8%15.0%4.1x
2025-0726.8x₹23108 cr60.8%15.0%4.1x
2025-0626.2x₹23108 cr60.8%15.0%4.1x
2025-0542.8x₹22763 cr62.6%18.0%6.3x
2025-0440.6x₹22763 cr62.6%18.0%6.3x
2025-0340.3x₹22763 cr62.6%18.0%6.3x
2025-0241.6x₹22553 cr51.9%18.0%6.3x
2025-0150.3x₹22553 cr51.9%18.0%6.3x
2024-1252.4x₹22553 cr51.9%18.0%6.3x
2024-1154.4x₹21697 cr51.6%18.0%6.3x
2024-1055.0x₹21697 cr51.6%18.0%6.3x
2024-0966.2x₹21697 cr51.6%18.0%6.3x
2024-0857.7x₹20969 cr54.3%18.0%6.3x
2024-0758.6x₹20969 cr54.3%18.0%6.3x
2024-0654.6x₹20969 cr54.3%18.0%6.3x
2024-0528.2x₹17838 cr118.6%24.0%5.7x
2024-0427.4x₹17838 cr118.6%24.0%5.7x
2024-0331.9x₹17838 cr118.6%24.0%5.7x
2024-0230.5x₹17838 cr118.6%24.0%5.7x
2024-0127.6x₹17838 cr118.6%24.0%5.7x
2023-1228.1x₹17838 cr118.6%24.0%5.7x
2023-1127.1x₹17838 cr118.6%24.0%5.7x
2023-1026.4x₹17838 cr118.6%24.0%5.7x
2023-0930.7x₹17838 cr118.6%24.0%5.7x
2023-0828.4x₹17838 cr118.6%24.0%5.7x
2023-0728.5x₹17838 cr118.6%24.0%5.7x
2023-0625.3x₹17838 cr118.6%24.0%5.7x
2023-0525.0x₹16725 cr160.0%22.0%9.8x
2023-0424.4x₹16725 cr160.0%22.0%9.8x
2023-0324.0x₹16725 cr160.0%22.0%9.8x
2023-0223.2x₹16725 cr160.0%22.0%9.8x
2023-0123.7x₹16725 cr160.0%22.0%9.8x
2022-1224.5x₹16725 cr160.0%22.0%9.8x
2022-1125.0x₹16725 cr160.0%22.0%9.8x
2022-1024.2x₹16725 cr160.0%22.0%9.8x
2022-0922.1x₹16725 cr160.0%22.0%9.8x
2022-0823.1x₹16725 cr160.0%22.0%9.8x
2022-0720.1x₹16725 cr160.0%22.0%9.8x
2022-0617.6x₹16725 cr160.0%22.0%9.8x
2022-0522.4x₹17100 cr—18.0%99.1x
2022-0424.9x₹17100 cr—18.0%99.1x
2022-0328.0x₹17100 cr—18.0%99.1x
2022-0227.0x₹17100 cr—18.0%99.1x
2022-0129.2x₹17100 cr—18.0%99.1x
2021-1233.4x₹17100 cr—18.0%99.1x
2021-1129.6x₹17100 cr—18.0%99.1x
2021-1029.8x₹17100 cr—18.0%99.1x
2021-0931.7x₹17100 cr—18.0%99.1x
2021-0832.3x₹17100 cr—18.0%99.1x
2021-0732.9x₹17100 cr—18.0%99.1x
2021-0629.3x₹17100 cr—18.0%99.1x
2021-05—₹17068 cr—9.0%—
2021-04—₹17068 cr—9.0%—
2021-03—₹17068 cr—9.0%—
2021-02—₹17068 cr—9.0%—
2021-01—₹17068 cr—9.0%—
2020-12—₹17068 cr—9.0%—
2020-11—₹17068 cr—9.0%—
2020-10—₹17068 cr—9.0%—
2020-09—₹17068 cr—9.0%—
2020-08—₹17068 cr—9.0%—
2020-07—₹17068 cr—9.0%—
2020-06—₹17068 cr—9.0%—
2020-05—₹16525 cr—8.0%—
2020-04—₹16525 cr—8.0%—
2020-03—₹16525 cr—8.0%—
2020-02—₹16525 cr—8.0%—
2020-01—₹16525 cr—8.0%—
2019-12—₹16525 cr—8.0%—
2019-11—₹16525 cr—8.0%—
2019-10—₹16525 cr—8.0%—
2019-09—₹16525 cr—8.0%—
2019-08—₹16525 cr—8.0%—
2019-07—₹16525 cr—8.0%—
2019-06—₹16525 cr—8.0%—
2019-05—₹16772 cr-65.3%8.0%17.9x
2019-04—₹16772 cr-65.3%8.0%17.9x
2019-03—₹16772 cr-65.3%8.0%17.9x
2019-02—₹16772 cr-65.3%8.0%17.9x
2019-01—₹16772 cr-65.3%8.0%17.9x

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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