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TRIBHOVANDAS BHIMJI ZAVERI LTD (TBZ)

Retail Trade · Specialty Stores · figures to Nov '26

Price #2
Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.53 / 100
Profitability 67Growth 68Balance sheet 23
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.86 / 100
Price 100Earnings 79FII/DII 78

Passes these screensQuality CompounderHigh MomentumConsistent compounders

Compare withAVENUE SUPERMARTS LTD DMARTLENSKART SOLUTIONSKALYAN JEWELLERS INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹636.15 latest close · +230.2% over the last 90 sessions

₹200₹400₹600₹800Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹200₹400₹600₹800Jul 3Sep 4Nov 9

₹636.15 month-end · +262.7% over 12 months

₹200₹400₹600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹200₹400₹600Nov '25May '26Nov '26

₹636.15 month-end · +407.1% over 3 years

₹200₹400₹600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹200₹400₹600Nov '23May '25Nov '26

₹636.15 month-end · +986.5% since Jan '19

₹0₹200₹400₹600Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹200₹400₹600Jan '19Dec '22Nov '26

52-week range ₹110.50 to ₹789.00 · 1-year volatility 66.0%

Was the rally earned?

+263%share price, 1 yearEarnings-driven

Mostly yes.

  • Per-share earnings added 217 points to the rise, while the multiple moved less (P/E 15.9x to 19.9x).
  • The share count barely moved.
Net profit growth: +219 pts. Points of the price return explained by net profit growing (or shrinking).+219 ptsNet profit growthP/E change: +46 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+46 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: +263%+263%Share priceNet profit growth: +219 pts. Points of the price return explained by net profit growing (or shrinking).+219ProfitP/E change: +46 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+46P/EShare count change: −2 pts. Points of the price return explained by the share count changing. More shares count against the price.−2SharesShare price: +263%+263%Share price
Net profit growth+219 ptsNet profit rose about 192%, which lifts the price.
P/E change+46 ptsThe P/E rose from 15.9x to 19.9x, which lifts the price.
Share count change-2 ptsShare count was little changed. More shares would count against the price.
+407%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 419 points, but investors now pay less per rupee of profit (P/E 20.8x to 19.9x), which took 12 points back.
  • The share count barely moved.
Net profit growth: +420 pts. Points of the price return explained by net profit growing (or shrinking).+420 ptsNet profit growthP/E change: −12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−12 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: +407%+407%Share priceNet profit growth: +420 pts. Points of the price return explained by net profit growing (or shrinking).+420ProfitP/E change: −12 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−12P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +407%+407%Share price
Net profit growth+420 ptsNet profit rose about 433%, which lifts the price.
P/E change-12 ptsThe P/E fell from 20.8x to 19.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+715%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 545 points to the rise, while the multiple moved less (P/E 12.0x to 19.9x).
  • The share count barely moved.
Net profit growth: +546 pts. Points of the price return explained by net profit growing (or shrinking).+546 ptsNet profit growthP/E change: +171 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+171 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: +715%+715%Share priceNet profit growth: +546 pts. Points of the price return explained by net profit growing (or shrinking).+546ProfitP/E change: +171 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+171P/EShare count change: −1 pts. Points of the price return explained by the share count changing. More shares count against the price.−1SharesShare price: +715%+715%Share price
Net profit growth+546 ptsNet profit rose about 396%, which lifts the price.
P/E change+171 ptsThe P/E rose from 12.0x to 19.9x, which lifts the price.
Share count change-1 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 AVENUE SUPERMARTS LTD DMART

How rough has the ride been?

Maximum drawdown-75.8%recovered 2021-01
1-year volatility66.0%annualised
Beta vs sector index1.103-year daily, correlation 0.36
Volume spikes14last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−73.4% 0%−20%−40%−60%2020202220242026−73.4%
Largest drawdowns

-75.8% (2019-04 peak to 2020-03 low, recovered 2021-01)

-66.0% (2024-09 peak to 2026-03 low, recovered 2026-09)

-48.8% (2021-10 peak to 2022-06 low, recovered 2023-08)

Most recent volume spikes

2026-09-02: 21.1x the 50-day median, price +14.0% that day

2026-09-01: 11.2x the 50-day median, price +20.0% that day

2026-08-21: 6x the 50-day median, price +12.3% 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?

19.9xP/E todayWithin its usual range
Against its own history74th percentile
CheapestMedian 17.6xDearest

Usual range 10.0x to 24.6x since 2019-01.

Against Retail Trade19.9x vs 22.4x
This company
19.9x
Sector median
22.4x

11% below the Retail Trade median.

5.2x25.1x45.1x65.0xJan '19Aug '20Mar '22Oct '23May '25Nov '265.2x25.1x45.1x65.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianRetail Trade median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianRetail Trade 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 Retail Trade is valued

Where does it rank among Retail Trade peers?

Each cell is the company's percentile rank among its Retail Trade 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

  • ROCE81st▲ 30 pts vs a year ago
  • Op. margin53rdflat vs a year ago
  • Revenue growth75th▲ 16 pts vs a year ago
  • EPS growth98th▲ 30 pts vs a year ago
  • Debt/equity ↓19th▼ 4 pts vs a year ago
  • Cash cycle ↓19th▼ 4 pts vs a year ago
  • P/E ↓57th▼ 19 pts vs a year ago
  • 12M momentum100th▲ 46 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 Retail Trade sector page Watch it move against Retail Trade in the Observatory

What is the price implying?

~27%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 55.6x, a holder earning 12%/yr needs earnings to grow about 26.6%/yr for 10 years, then trade at 15x.

Delivered30.6%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−4.0 ptsimplied minus delivered
Rank610thmost demanding of 856

Over time

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

0%43%86% Jan 2019Nov 2026 0%43%86% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x28.1%29.3%30.4%
15x25.5%26.6%27.7%
20x22.1%23.2%24.3%

Drag a slider to test other assumptions

Implied: 26.6%/yr

Looking back

  • Jan 2020Price implied 17%/yr; EPS has since grown 44%/yr (7.0 yrs)
  • Jan 2021Price implied 26%/yr; EPS has since grown 46%/yr (6.0 yrs)
  • Jan 2022Price implied 15%/yr; EPS has since grown 36%/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 Retail Trade The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹636.15
P/E
19.9x
ROCE
22.0%
Market Cap
₹4234 cr
Revenue (TTM)
₹3420 cr
P/S
1.2x
P/B
5.1x
ROE
25.4%
Operating Margin
9.0%
Debt / Equity
1.1x
Promoter Holding
74.1%
12M Momentum
262.7%

52-week range

₹110.50₹789.00
77% of the way from its 52-week low to its high

Price risk

1Y volatility
66.0%
Beta vs sector
1-year daily
1.14

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.1x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.13x
low
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance3%Within range

Other income as a share of pre-tax profit (trailing twelve months): 2.8%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate27%Within range

Median quarterly effective tax rate over about 2.5 years: 26.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.13xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.13x (cash from operations ₹43 cr, net profit ₹324 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

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

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (0 vs 0). 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+4 days / 2 yrsWithin range

Days payable changed by +4 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 30,876 to 50,689 (+64%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters74.1%74.1%0.0 pts
FIIs1.8%1.5%-0.4 pts
DIIs0.0%0.0%0.0 pts
Public and others24.1%24.4%+0.4 pts

Number of shareholders

50,689shareholders+64% since Dec '23
31k39k47k55k Dec '23Jun '24Dec '24Jun '25Mar '26Jun '26
Dec '23: 30,876
Mar '24: 31,111
Jun '24: 31,369
Sep '24: 49,524
Dec '24: 55,154
Mar '25: 53,666
Jun '25: 53,830
Sep '25: 53,332
Mar '26: 54,101
Jun '26: 50,689
 31k39k47k55k Dec '23Sep '24Jun '25Jun '26
Dec '23: 30,876
Mar '24: 31,111
Jun '24: 31,369
Sep '24: 49,524
Dec '24: 55,154
Mar '25: 53,666
Jun '25: 53,830
Sep '25: 53,332
Mar '26: 54,101
Jun '26: 50,689

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

+0.7%typical 12-month return vs the marketNot meaningfully different from the base rate
  • We found 50 past situations where a non-financial company looked like TRIBHOVANDAS BHIMJI ZAVERI 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 −23% to +64% vs the market, against −5% for all non-financial companies in the same months.
  • The gap against the base rate (+5.7%, 80% range −1.5% to +14.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
EKC · Jan 2022: −61.2% vs market
SALZERELEC · Jan 2025: −56.5% vs market
AVPINFRA · Apr 2025: −46.6% vs market
ASHAPURMIN · Oct 2023: −43.4% vs market
KRITI · Sep 2024: −42.5% vs market
KHAICHEM · Apr 2022: −39.3% vs market
DYCL · Jan 2025: −34.8% vs market
PATELENG · Feb 2024: −33.3% vs market
GPTINFRA · Aug 2024: −31.5% vs market
REFEX · May 2025: −29.3% vs market
IRCON · Jun 2024: −26.3% vs market
LTFOODS · Aug 2020: −24.7% vs market
TEMBO · Feb 2025: −23.5% vs market
ICIL · Jun 2021: −23.0% vs market
PARADEEP · Sep 2025: −21.7% vs market
BHARATWIRE · Jul 2023: −18.1% vs market
ABCIND · Dec 2024: −12.0% vs market
TRIVENI · Mar 2022: −8.2% vs market
SANGAMIND · Jun 2022: −7.8% vs market
GEEKAYWIRE · Dec 2023: −7.4% vs market
BCLIND · Mar 2022: −6.9% vs market
FILATEX · Sep 2021: −3.0% vs market
DSSL · Jan 2023: −2.5% vs market
JAIBALAJI · Dec 2023: +0.3% vs market
POWERMECH · Jun 2023: +0.3% vs market
PARACABLES · Aug 2023: +1.1% vs market
HFCL · Nov 2021: +1.3% vs market
SKYGOLD · Sep 2024: +5.9% vs market
PITTIENG · Apr 2022: +10.3% vs market
PGIL · May 2025: +11.1% vs market
MADRASFERT · Dec 2022: +12.3% vs market
JINDWORLD · Jun 2022: +14.7% vs market
GOKEX · Jun 2022: +16.2% vs market
TCPLPACK · Dec 2022: +16.7% vs market
KECL · Jul 2023: +39.6% vs market
CEMPRO · Oct 2024: +39.7% vs market
FACT · Jun 2023: +55.0% vs market
STEELXIND · Jun 2020: +66.8% vs market
POCL · Apr 2025: +69.1% vs market
KOPRAN · Dec 2020: +73.2% vs market
GRAVITA · Jun 2022: +74.4% vs market
KDDL · Aug 2022: +85.3% vs market
LUMAXTECH · Oct 2025: +89.6% vs market
FORCEMOT · Jul 2024: +94.6% vs market
APARINDS · May 2023: +98.2% vs market
PRIVISCL · Nov 2020: +116.1% vs market
RVNL · May 2023: +121.5% vs market
KRISHANA · Oct 2025: +139.1% vs market
KIRLOSENG · Jun 2023: +142.6% vs market
RAMASTEEL · Aug 2021: +147.9% vs market
Similar setups +0.7%All companies −5.0%← 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 · 5 beyond the range shown, drawn at the edge

Similar setups' median
+0.7%
All companies' median
−5.0%
Beat the market
54% vs 44%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
PGIL
Consumer Non-Durables		 May 2025 28x21% +128%−14% +11%
ASHAPURMIN
Non-Energy Minerals		 Oct 2023 24x16% +240%−10% −43%
PRIVISCL
Process Industries		 Nov 2020 12x20% +539850%−9% +116%
JAIBALAJI
Non-Energy Minerals		 Dec 2023 31x18% +1291%−2% 0%
REFEX
Energy Minerals		 May 2025 38x26% +236%−21% −29%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
GEEKAYWIRE
Producer Manufacturing		 Dec 2023 19x27% +505%−8% −7%
SALZERELEC
Producer Manufacturing		 Jan 2025 32x13% +196%−23% −57%
LUMAXTECH
Producer Manufacturing		 Oct 2025 41x19% +116%−15% +90%
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: interest cover, P/S 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 TRIBHOVANDAS BHIMJI ZAVERI 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.

INDO RAMA SYNTHETICS (INDIA) LINDORAMA
Process Industries
62%similar
volatilitypromoter holding
LUMAX INDUSTRIESLUMAXIND
Producer Manufacturing
60%similar
operating margindebt/equity
JAIN RESOURCE RECYCLINGJAINREC
Non-Energy Minerals
57%similar
promoter holdingdebt/equity
RANE (MADRAS)RML
Producer Manufacturing
56%similar
debt/equityrevenue
WHEELS INDIAWHEELS
Producer Manufacturing
55%similar
operating margindebt/equity
ELECTRONICS MART INDIAEMIL
Retail Trade
41%similar
revenue growthdebt/equity
MANOJ VAIBHAV GEMS JEWMVGJL
Retail Trade
41%similar
revenue growthpromoter holding
KALYAN JEWELLERS INDIAKALYANKJIL
Retail Trade
35%similar
debt/equityROCE

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

What changed?

30 events since Jun '23

  1. SepPriceRegained the 2024-09 peak, 6 months after the low.
  2. JulPriceVolume reached 47.4x its 50-day median on 2026-07-14; price +15.5% that day.
  3. JunPeer rankMoved into the top quartile of Retail Trade on ROCE (from the 3rd quartile).
  4. JunDividendDividend payout cut from 22% to 8% of profit.
  5. MayPriceVolume reached 28.9x its 50-day median on 2026-05-29; price +20.0% that day.
  6. MarPriceFell 66% from the Sep 2024 peak to the Mar 2026 low.
  7. FebValuationP/E fell below the 10th percentile of its own history to date (10.5x).
  8. FebPeer rankSlipped to the 3rd quartile of Retail Trade on ROCE (from the 2nd quartile).
Show 22 earlier events
  1. JanPriceVolume reached 233.2x its 50-day median on 2026-01-07; price +15.4% that day.
  2. DecPeer rankMoved into the top quartile of Retail Trade on EPS growth (from the 2nd quartile).
  3. NovPriceVolume reached 16.0x its 50-day median on 2025-11-10; price +5.1% that day.
  4. SepPeer rankMoved into the 2nd quartile of Retail Trade on operating margin (from the 3rd quartile).
  5. AugPriceVolume reached 20.2x its 50-day median on 2025-08-05; price +6.7% that day.
  6. JunPeer rankMoved into the 2nd quartile of Retail Trade on ROCE (from the 3rd quartile).
  7. AprPriceVolume reached 12.0x its 50-day median on 2025-04-22; price +5.9% that day.
  8. DecResultsRevenue (TTM) reached a new high of ₹2,411 cr.
  9. DecPeer rankMoved into the top quartile of Retail Trade on EPS growth (from the 2nd quartile).
  10. AugValuationP/E crossed above the 90th percentile of its own history to date (24.4x).
  11. JulPriceRegained the 2024-01 peak, 1 month after the low.
  12. JulPriceVolume reached 37.1x its 50-day median on 2024-07-23; price +13.9% that day.
  13. JunPriceFell 30% from the Jan 2024 peak to the Jun 2024 low.
  14. JunPeer rankSlipped to the 2nd quartile of Retail Trade on EPS growth (from the top quartile).
  15. JunPriceVolume reached 6.7x its 50-day median on 2024-06-19; price +5.1% that day.
  16. JanPriceVolume reached 8.1x its 50-day median on 2024-01-11; price +6.4% that day.
  17. DecPriceVolume reached 18.2x its 50-day median on 2023-12-20; price +3.0% that day.
  18. AugPriceRegained the 2021-10 peak, 14 months after the low.
  19. AugPriceVolume reached 11.9x its 50-day median on 2023-08-17; price +9.8% that day.
  20. JunResultsYear-on-year EPS growth turned positive.
  21. JunPeer rankMoved into the top quartile of Retail Trade on EPS growth (from the bottom quartile).
  22. JunPriceVolume reached 66.2x its 50-day median on 2023-06-08; price +10.2% 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
2026-1119.9x₹3420 cr25.4%22.0%1.1x
2026-1019.0x₹3420 cr25.4%22.0%1.1x
2026-0919.8x₹3420 cr25.7%22.0%1.1x
2026-0810.1x₹3203 cr24.2%22.0%1.1x
2026-079.1x₹3203 cr24.2%22.0%1.1x
2026-066.4x₹3203 cr24.2%22.0%1.1x
2026-057.7x₹2902 cr21.9%12.0%1.2x
2026-046.8x₹2902 cr21.9%12.0%1.2x
2026-035.2x₹2902 cr21.9%12.0%1.2x
2026-0210.5x₹2769 cr14.2%12.0%1.2x
2026-0111.5x₹2769 cr14.2%12.0%1.2x
2025-1211.8x₹2769 cr14.2%12.0%1.2x
2025-1115.9x₹2648 cr11.1%12.0%1.2x
2025-1016.3x₹2648 cr11.1%12.0%1.2x
2025-0916.5x₹2648 cr11.1%12.0%1.2x
2025-0818.1x₹2620 cr10.4%12.0%1.2x
2025-0717.9x₹2620 cr10.4%12.0%1.2x
2025-0618.3x₹2620 cr10.4%12.0%1.2x
2025-0517.6x₹2598 cr12.0%11.0%1.0x
2025-0418.2x₹2598 cr12.0%11.0%1.0x
2025-0317.1x₹2598 cr12.0%11.0%1.0x
2025-0217.4x₹2411 cr10.5%11.0%1.0x
2025-0119.8x₹2411 cr10.5%11.0%1.0x
2024-1225.0x₹2411 cr10.5%11.0%1.0x
2024-1125.9x₹2325 cr10.0%11.0%1.0x
2024-1029.9x₹2325 cr10.0%11.0%1.0x
2024-0931.6x₹2325 cr10.0%11.0%1.0x
2024-0824.4x₹2300 cr9.0%11.0%1.0x
2024-0718.1x₹2300 cr9.0%11.0%1.0x
2024-0614.8x₹2300 cr9.0%11.0%1.0x
2024-0517.3x₹2394 cr7.1%9.0%1.0x
2024-0420.5x₹2394 cr7.1%9.0%1.0x
2024-0317.3x₹2394 cr7.1%9.0%1.0x
2024-0219.3x₹2394 cr7.1%9.0%1.0x
2024-0121.8x₹2394 cr7.1%9.0%1.0x
2023-1221.2x₹2394 cr7.1%9.0%1.0x
2023-1120.8x₹2394 cr7.1%9.0%1.0x
2023-1019.9x₹2394 cr7.1%9.0%1.0x
2023-0919.5x₹2394 cr7.1%9.0%1.0x
2023-0819.3x₹2394 cr7.1%9.0%1.0x
2023-0715.0x₹2394 cr7.1%9.0%1.0x
2023-0614.0x₹2394 cr7.1%9.0%1.0x
2023-0524.3x₹1844 cr3.8%6.0%1.1x
2023-0422.2x₹1844 cr3.8%6.0%1.1x
2023-0320.2x₹1844 cr3.8%6.0%1.1x
2023-0222.0x₹1844 cr3.8%6.0%1.1x
2023-0124.7x₹1844 cr3.8%6.0%1.1x
2022-1226.0x₹1844 cr3.8%6.0%1.1x
2022-1124.9x₹1844 cr3.8%6.0%1.1x
2022-1026.5x₹1844 cr3.8%6.0%1.1x
2022-0926.1x₹1844 cr3.8%6.0%1.1x
2022-0825.5x₹1844 cr3.8%6.0%1.1x
2022-0723.2x₹1844 cr3.8%6.0%1.1x
2022-0621.3x₹1844 cr3.8%6.0%1.1x
2022-059.6x₹1342 cr8.2%11.0%0.8x
2022-0410.8x₹1342 cr8.2%11.0%0.8x
2022-0310.5x₹1342 cr8.2%11.0%0.8x
2022-0210.2x₹1342 cr8.2%11.0%0.8x
2022-0112.6x₹1342 cr8.2%11.0%0.8x
2021-1212.1x₹1342 cr8.2%11.0%0.8x

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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