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TATA POWER CO LTD (TATAPOWER)

Utilities · Electric Utilities · 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 55Growth 52Balance sheet 22
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 51Earnings 42FII/DII 89
Compare withADANI POWERNTPCADANI GREEN ENERGY

Share price

Closing priceAdjusted for splits and bonus issues.

₹360 latest close · −4.1% over the last 90 sessions

₹340₹360₹380Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹340₹360₹380Jul 3Sep 4Nov 9

₹360 month-end · −7.7% over 12 months

₹350₹400₹450Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹350₹400₹450Nov '25May '26Nov '26

₹360 month-end · +34.4% over 3 years

₹300₹400₹500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹300₹400₹500Nov '23May '25Nov '26

₹360 month-end · +404.9% since Jan '19

₹0₹200₹400Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400Jan '19Dec '22Nov '26

52-week range ₹333.20 to ₹464.90 · 1-year volatility 22.7%

Was the rally earned?

-8%share price, 1 yearEarnings and multiple

Both mattered.

  • Per-share earnings took off 5 points and the multiple took off 3 points (P/E 30.7x to 29.8x).
  • The share count rose 14%.
Net profit growth: +8 pts. Points of the price return explained by net profit growing (or shrinking).+8 ptsNet profit growthP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3 ptsP/E changeShare count change: −12 pts. Points of the price return explained by the share count changing. More shares count against the price.−12 ptsShare count changeShare price: −8%−8%Share priceNet profit growth: +8 pts. Points of the price return explained by net profit growing (or shrinking).+8ProfitP/E change: −3 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−3P/EShare count change: −12 pts. Points of the price return explained by the share count changing. More shares count against the price.−12SharesShare price: −8%−8%Share price
Net profit growth+8 ptsNet profit rose about 8%, which lifts the price.
P/E change-3 ptsThe P/E fell from 30.7x to 29.8x, which lowers the price.
Share count change-12 ptsShare count rose 14%, which lowers the price.
+34%share price, 3 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 17 points and the multiple added 17 points (P/E 25.7x to 29.8x).
  • The share count rose 19%.
Net profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37 ptsNet profit growthP/E change: +17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+17 ptsP/E changeShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20 ptsShare count changeShare price: +34%+34%Share priceNet profit growth: +37 pts. Points of the price return explained by net profit growing (or shrinking).+37ProfitP/E change: +17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+17P/EShare count change: −20 pts. Points of the price return explained by the share count changing. More shares count against the price.−20SharesShare price: +34%+34%Share price
Net profit growth+37 ptsNet profit rose about 38%, which lifts the price.
P/E change+17 ptsThe P/E rose from 25.7x to 29.8x, which lifts the price.
Share count change-20 ptsShare count rose 19%, which lowers the price.
+66%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 161 points, but investors now pay less per rupee of profit (P/E 61.4x to 29.8x), which took 94 points back.
  • The share count rose 7%.
Net profit growth: +169 pts. Points of the price return explained by net profit growing (or shrinking).+169 ptsNet profit growthP/E change: −94 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−94 ptsP/E changeShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8 ptsShare count changeShare price: +66%+66%Share priceNet profit growth: +169 pts. Points of the price return explained by net profit growing (or shrinking).+169ProfitP/E change: −94 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−94P/EShare count change: −8 pts. Points of the price return explained by the share count changing. More shares count against the price.−8SharesShare price: +66%+66%Share price
Net profit growth+169 ptsNet profit rose about 265%, which lifts the price.
P/E change-94 ptsThe P/E fell from 61.4x to 29.8x, which lowers the price.
Share count change-8 ptsShare count rose 7%, which lowers 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 POWER

How rough has the ride been?

Maximum drawdown-64.4%recovered 2020-12
1-year volatility22.7%annualised
Beta vs sector index0.813-year daily, correlation 0.72
Volume spikes0last 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

-64.4% (2019-01 peak to 2020-05 low, recovered 2020-12)

-36.5% (2022-04 peak to 2023-03 low, recovered 2023-12)

-31.0% (2024-09 peak to 2026-10 low, not yet recovered)

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?

29.8xP/E todayWithin its usual range
Against its own history44th percentile
CheapestMedian 31.4xDearest

Usual range 7.0x to 43.3x since 2019-01.

Against Utilities29.8x vs 27.3x
This company
29.8x
Sector median
27.3x

9% above the Utilities median.

3.6x25.7x47.7x69.7xJan '19Aug '20Mar '22Oct '23May '25Nov '263.6x25.7x47.7x69.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianUtilities median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Utilities peers?

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

  • ROCE60th▲ 3 pts vs a year ago
  • Op. margin51stflat vs a year ago
  • Revenue growth13th▼ 29 pts vs a year ago
  • EPS growth31st▼ 29 pts vs a year ago
  • Debt/equity ↓22nd▲ 5 pts vs a year ago
  • Cash cycle ↓79thflat vs a year ago
  • P/E ↓48th▲ 3 pts vs a year ago
  • 12M momentum52nd▼ 19 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 Utilities sector page Watch it move against Utilities in the Observatory

What is the price implying?

~22%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 38.8x, a holder earning 12%/yr needs earnings to grow about 22.1%/yr for 10 years, then trade at 15x.

Delivered9.5%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+12.6 ptsimplied minus delivered
Rank266thmost demanding of 856

Over time

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

-1%20%41% Jan 2019Nov 2026 -1%20%41% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x23.6%24.7%25.8%
15x21.0%22.1%23.2%
20x17.8%18.8%19.9%

Drag a slider to test other assumptions

Implied: 22.1%/yr

Looking back

  • Jan 2020Price implied 6%/yr; EPS has since grown 8%/yr (7.0 yrs)
  • Jan 2021Price implied 10%/yr; EPS has since grown 22%/yr (6.0 yrs)
  • Jan 2022Price implied 26%/yr; EPS has since grown 29%/yr (5.0 yrs)

Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Utilities The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹360.00
P/E
29.8x
ROCE
11.0%
Market Cap
₹1.15L cr
Revenue (TTM)
₹63444 cr
P/S
1.8x
P/B
2.9x
ROE
9.8%
Operating Margin
20.0%
Debt / Equity
1.9x
Promoter Holding
46.9%
12M Momentum
-7.7%

52-week range

₹333.20₹464.90
20% of the way from its 52-week low to its high

Price risk

1Y volatility
22.7%
Beta vs sector
1-year daily
0.73

Balance sheet & cash

Interest cover
operating profit ÷ interest
2.3x
Cash from profit, 3Y
operating cash flow ÷ net profit
2.20x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 6checks within range1 beyond a threshold
Other income reliance63%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 63.1%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate22%Within range

Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion2.20xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 2.20x (cash from operations ₹31,177 cr, net profit ₹14,173 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow2 of 5 yrsNear threshold

Fiscal years with positive free cash flow in the last 5: 2. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-18 daysWithin range

Debtor days are below the median of the previous three fiscal years by 18 days (26 vs 44). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress17% of fixed assetsWithin range

Capital work-in-progress is 17% 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 2.4 pts.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters46.9%46.9%0.0 pts
FIIs10.0%10.0%0.0 pts
DIIs15.7%18.1%+2.4 pts
Public and others27.1%24.7%-2.5 pts

Number of shareholders

40.0 lakhshareholders+5% since Sep '23
38.1L40.9L43.8L46.7L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 38.1 lakh
Dec '23: 39.8 lakh
Mar '24: 44.4 lakh
Jun '24: 46.1 lakh
Sep '24: 45.5 lakh
Dec '24: 46.4 lakh
Mar '25: 46.7 lakh
Jun '25: 45.1 lakh
Sep '25: 44.0 lakh
Dec '25: 42.4 lakh
Mar '26: 41.1 lakh
Jun '26: 40.0 lakh
 38.1L40.9L43.8L46.7L Sep '23Sep '24Sep '25Jun '26
Sep '23: 38.1 lakh
Dec '23: 39.8 lakh
Mar '24: 44.4 lakh
Jun '24: 46.1 lakh
Sep '24: 45.5 lakh
Dec '24: 46.4 lakh
Mar '25: 46.7 lakh
Jun '25: 45.1 lakh
Sep '25: 44.0 lakh
Dec '25: 42.4 lakh
Mar '26: 41.1 lakh
Jun '26: 40.0 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

+12.2%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like TATA POWER CO 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 −26% to +26% vs the market, against −6% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +18.5%, 80% range +1.2% to +23.9%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
MOTHERSON · Oct 2021: −53.4% vs market
JKLAKSHMI · Oct 2025: −44.9% vs market
MHRIL · Oct 2025: −42.6% vs market
BATAINDIA · Aug 2025: −40.3% vs market
UPL · Dec 2022: −35.4% vs market
GMMPFAUDLR · May 2025: −33.8% vs market
DALBHARAT · Oct 2025: −33.2% vs market
AARTIIND · Jun 2024: −31.6% vs market
TATACHEM · Oct 2025: −29.3% vs market
CESC · May 2020: −28.9% vs market
BRIGADE · Oct 2025: −28.4% vs market
RAMCOCEM · Oct 2025: −27.2% vs market
BIRLACORPN · Jun 2025: −27.0% vs market
BLUEDART · Aug 2024: −24.4% vs market
EVEREADY · Mar 2023: −23.0% vs market
GODREJIND · Feb 2022: −18.5% vs market
APOLLOTYRE · Sep 2025: −14.9% vs market
TVSMOTOR · Feb 2021: −13.5% vs market
RELIANCE · Jul 2025: −10.7% vs market
NTPC · Sep 2025: −5.7% vs market
PRSMJOHNSN · Nov 2021: −1.3% vs market
HINDALCO · May 2021: −0.8% vs market
TATACOMM · Sep 2025: +2.1% vs market
GRASIM · Feb 2021: +10.9% vs market
APOLLOHOSP · May 2024: +12.1% vs market
JINDALSTEL · Jun 2025: +12.4% vs market
ADANIENT · Oct 2025: +13.3% vs market
LUPIN · Feb 2020: +16.9% vs market
KEC · Jun 2022: +17.3% vs market
BIOCON · Jun 2025: +17.4% vs market
TATASTEEL · Jun 2025: +17.5% vs market
BALRAMCHIN · Aug 2025: +20.1% vs market
HATSUN · Jan 2020: +22.7% vs market
SRF · Nov 2024: +24.4% vs market
IRB · Jun 2021: +24.9% vs market
POWERGRID · May 2023: +25.6% vs market
JKCEMENT · Apr 2024: +25.8% vs market
BHARTIARTL · Aug 2023: +26.0% vs market
BBTC · Mar 2023: +30.0% vs market
ASHOKLEY · Jul 2025: +30.3% vs market
ASTERDM · Jun 2022: +31.1% vs market
JSWSTEEL · Feb 2021: +32.2% vs market
LT · Jun 2022: +32.3% vs market
M&M · May 2023: +32.3% vs market
ASAHIINDIA · Nov 2024: +43.5% vs market
TORNTPOWER · Dec 2022: +49.3% vs market
JSWENERGY · Apr 2020: +53.8% vs market
BHARATFORG · Sep 2025: +58.0% vs market
PRESTIGE · Nov 2022: +84.8% vs market
MOTILALOFS · Aug 2023: +112.6% vs market
Similar setups +12.2%All companies −6.3%← 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 · 1 beyond the range shown, drawn at the edge

Similar setups' median
+12.2%
All companies' median
−6.3%
Beat the market
56% vs 43%

50 past situations · 50 companies · 27 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
LT
Industrial Services		 Jun 2022 25x10% +4%−25% +32%
TVSMOTOR
Consumer Durables		 Feb 2021 45x13% +37%−9% −14%
TATACOMM
Communications		 Sep 2025 27x15% −24%−25% +2%
M&M
Consumer Durables		 May 2023 25x11% +28%−5% +32%
JSWSTEEL
Non-Energy Minerals		 Feb 2021 24x9% +68%−6% +32%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
BATAINDIA
Consumer Non-Durables		 Aug 2025 41x15% −24%−25% −40%
BHARATFORG
Producer Manufacturing		 Sep 2025 56x12% −20%−21% +58%
GRASIM
Non-Energy Minerals		 Feb 2021 18x8% +75%−6% +11%
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: ROCE, 12-month momentum 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 POWER CO LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

TATA STEELTATASTEEL
Non-Energy Minerals
71%similar
revenuemarket cap
RELIANCE INDUSTRIESRELIANCE
Energy Minerals
69%similar
volatilityrevenue
GRASIM INDUSTRIESGRASIM
Non-Energy Minerals
67%similar
debt/equityvolatility
IRB INFRASTRUCTURE DEVELOPERSIRB
Industrial Services
65%similar
revenue growthvolatility
SRFSRF
Process Industries
65%similar
revenue growthmarket cap
TORRENT POWERTORNTPOWER
Utilities
77%similar
revenue growthrevenue
POWER GRID CORPORATION OF INDIPOWERGRID
Utilities
64%similar
volatilityrevenue
CESCCESC
Utilities
61%similar
ROCEEPS growth

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

What changed?

30 events since Jan '21

  1. OctPriceFell 31% from the Sep 2024 peak to the Oct 2026 low.
  2. AugPeer rankMoved into the 2nd quartile of Utilities on operating margin (from the 3rd quartile).
  3. JunPeer rankSlipped to the 3rd quartile of Utilities on operating margin (from the 2nd quartile).
  4. MarResultsYear-on-year EPS growth turned negative.
  5. MarPeer rankSlipped to the 3rd quartile of Utilities on EPS growth (from the 2nd quartile).
  6. MarPriceVolume reached 6.7x its 50-day median on 2026-03-12; price +4.3% that day.
  7. SepPeer rankMoved into the 2nd quartile of Utilities on operating margin (from the 3rd quartile).
  8. JunPeer rankSlipped to the 3rd quartile of Utilities on operating margin (from the 2nd quartile).
Show 22 earlier events
  1. MarResultsRevenue (TTM) reached a new high of ₹64,230 cr.
  2. MarPeer rankMoved into the 2nd quartile of Utilities on operating margin (from the 3rd quartile).
  3. SepPeer rankSlipped to the 3rd quartile of Utilities on operating margin (from the 2nd quartile).
  4. JunResultsRevenue (TTM) reached a new high of ₹61,449 cr.
  5. JunPeer rankSlipped to the 3rd quartile of Utilities on EPS growth (from the top quartile).
  6. MarPriceVolume reached 6.4x its 50-day median on 2024-03-07; price +7.7% that day.
  7. DecPriceRegained the 2022-04 peak, 9 months after the low.
  8. DecPriceVolume reached 21.5x its 50-day median on 2023-12-07; price +10.8% that day.
  9. JulPriceVolume reached 7.6x its 50-day median on 2023-07-28; price +6.2% that day.
  10. JunResultsRevenue (TTM) reached a new high of ₹55,109 cr.
  11. MarPriceFell 36% from the Apr 2022 peak to the Mar 2023 low.
  12. AugPeer rankMoved into the 2nd quartile of Utilities on ROCE (from the 3rd quartile).
  13. JunResultsYear-on-year EPS growth turned positive.
  14. JunPeer rankMoved into the top quartile of Utilities on EPS growth (from the 3rd quartile).
  15. AprPriceVolume reached 8.1x its 50-day median on 2022-04-06; price +5.9% that day.
  16. OctPriceVolume reached 10.8x its 50-day median on 2021-10-13; price +14.5% that day.
  17. SepPriceVolume reached 5.6x its 50-day median on 2021-09-29; price +8.2% that day.
  18. JunResultsRevenue (TTM) reached a new high of ₹32,703 cr.
  19. JunPeer rankMoved into the 3rd quartile of Utilities on EPS growth (from the bottom quartile).
  20. JunSharesShare count is up 18.5% over 12 months.
  21. JunPriceVolume reached 9.5x its 50-day median on 2021-06-09; price +6.5% that day.
  22. JanValuationP/E crossed above the 90th percentile of its own history to date (20.1x).

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
2026-1129.8x₹63444 cr9.8%11.0%1.9x
2026-1028.5x₹63444 cr9.8%11.0%1.9x
2026-0929.7x₹63444 cr9.8%11.0%1.9x
2026-0829.6x₹62428 cr9.5%11.0%1.9x
2026-0732.4x₹62428 cr9.5%11.0%1.9x
2026-0632.8x₹62428 cr9.5%11.0%1.9x
2026-0535.4x₹64624 cr10.3%11.0%1.8x
2026-0437.4x₹64624 cr10.3%11.0%1.8x
2026-0331.9x₹64624 cr10.3%11.0%1.8x
2026-0229.8x₹66067 cr10.3%11.0%1.8x
2026-0128.9x₹66067 cr10.3%11.0%1.8x
2025-1229.9x₹66067 cr10.3%11.0%1.8x
2025-1130.7x₹66220 cr10.0%11.0%1.8x
2025-1031.9x₹66220 cr10.0%11.0%1.8x
2025-0930.6x₹66220 cr10.0%11.0%1.8x
2025-0830.1x₹65479 cr9.8%11.0%1.8x
2025-0732.0x₹65479 cr9.8%11.0%1.8x
2025-0632.6x₹65479 cr9.8%11.0%1.8x
2025-0532.8x₹64230 cr10.3%11.0%1.7x
2025-0432.1x₹64230 cr10.3%11.0%1.7x
2025-0331.4x₹64230 cr10.3%11.0%1.7x
2025-0228.9x₹63490 cr10.0%11.0%1.7x
2025-0131.1x₹63490 cr10.0%11.0%1.7x
2024-1233.5x₹63490 cr10.0%11.0%1.7x
2024-1135.8x₹63530 cr9.8%11.0%1.7x
2024-1038.1x₹63530 cr9.8%11.0%1.7x
2024-0941.7x₹63530 cr9.8%11.0%1.7x
2024-0837.6x₹61449 cr9.7%11.0%1.7x
2024-0739.2x₹61449 cr9.7%11.0%1.7x
2024-0638.1x₹61449 cr9.7%11.0%1.7x
2024-0541.8x₹55109 cr9.7%12.0%1.8x
2024-0443.0x₹55109 cr9.7%12.0%1.8x
2024-0337.8x₹55109 cr9.7%12.0%1.8x
2024-0235.6x₹55109 cr9.7%12.0%1.8x
2024-0137.3x₹55109 cr9.7%12.0%1.8x
2023-1231.8x₹55109 cr9.7%12.0%1.8x
2023-1125.7x₹55109 cr9.7%12.0%1.8x
2023-1022.9x₹55109 cr9.7%12.0%1.8x
2023-0925.1x₹55109 cr9.7%12.0%1.8x
2023-0823.5x₹55109 cr9.7%12.0%1.8x
2023-0722.7x₹55109 cr9.7%12.0%1.8x
2023-0621.3x₹55109 cr9.7%12.0%1.8x
2023-0539.2x₹42816 cr7.1%9.0%2.3x
2023-0436.9x₹42816 cr7.1%9.0%2.3x
2023-0334.9x₹42816 cr7.1%9.0%2.3x
2023-0237.2x₹42816 cr7.1%9.0%2.3x
2023-0139.1x₹42816 cr7.1%9.0%2.3x
2022-1238.1x₹42816 cr7.1%9.0%2.3x
2022-1141.2x₹42816 cr7.1%9.0%2.3x
2022-1041.5x₹42816 cr7.1%9.0%2.3x
2022-0939.7x₹42816 cr7.1%9.0%2.3x
2022-0843.5x₹42816 cr7.1%9.0%2.3x
2022-0740.7x₹42816 cr7.1%9.0%2.3x
2022-0637.1x₹42816 cr7.1%9.0%2.3x
2022-0566.6x₹32703 cr4.7%8.0%2.1x
2022-0468.7x₹32703 cr4.7%8.0%2.1x
2022-0367.6x₹32703 cr4.7%8.0%2.1x
2022-0263.2x₹32703 cr4.7%8.0%2.1x
2022-0169.7x₹32703 cr4.7%8.0%2.1x
2021-1262.6x₹32703 cr4.7%8.0%2.1x
2021-1161.4x₹32703 cr4.7%8.0%2.1x
2021-1060.7x₹32703 cr4.7%8.0%2.1x
2021-0945.0x₹32703 cr4.7%8.0%2.1x
2021-0836.6x₹32703 cr4.7%8.0%2.1x
2021-0735.4x₹32703 cr4.7%8.0%2.1x
2021-0634.6x₹32703 cr4.7%8.0%2.1x
2021-0528.3x₹29136 cr4.9%8.0%2.7x
2021-0426.3x₹29136 cr4.9%8.0%2.7x
2021-0327.5x₹29136 cr4.9%8.0%2.7x
2021-0225.3x₹29136 cr4.9%8.0%2.7x
2021-0120.1x₹29136 cr4.9%8.0%2.7x
2020-1220.1x₹29136 cr4.9%8.0%2.7x
2020-1117.3x₹29136 cr4.9%8.0%2.7x
2020-1013.9x₹29136 cr4.9%8.0%2.7x
2020-0914.2x₹29136 cr4.9%8.0%2.7x
2020-0815.6x₹29136 cr4.9%8.0%2.7x
2020-0713.0x₹29136 cr4.9%8.0%2.7x
2020-0611.9x₹29136 cr4.9%8.0%2.7x
2020-054.2x₹29881 cr10.5%7.0%2.6x
2020-043.6x₹29881 cr10.5%7.0%2.6x
2020-033.8x₹29881 cr10.5%7.0%2.6x
2020-025.4x₹29881 cr10.5%7.0%2.6x
2020-016.7x₹29881 cr10.5%7.0%2.6x
2019-126.5x₹29881 cr10.5%7.0%2.6x
2019-116.6x₹29881 cr10.5%7.0%2.6x
2019-106.8x₹29881 cr10.5%7.0%2.6x
2019-097.2x₹29881 cr10.5%7.0%2.6x
2019-086.5x₹29881 cr10.5%7.0%2.6x
2019-077.0x₹29881 cr10.5%7.0%2.6x
2019-067.9x₹29881 cr10.5%7.0%2.6x
2019-057.7x₹26840 cr11.7%6.0%3.0x
2019-047.6x₹26840 cr11.7%6.0%3.0x
2019-038.3x₹26840 cr11.7%6.0%3.0x
2019-027.4x₹26840 cr11.7%6.0%3.0x
2019-018.0x₹26840 cr11.7%6.0%3.0x

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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