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TRANSPORT CORPORATION OF INDIA (TCI)

Transportation · Trucking · 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.72 / 100
Profitability 66Growth 64Balance sheet 87
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.49 / 100
Price 44Earnings 41FII/DII 61

Passes these screensQuality CompounderDebt-light & profitable

Compare withBLACKBUCKVRL LOGISTICSWESTERN CARRIERS INDIA

Share price

Closing priceAdjusted for splits and bonus issues.

₹861.45 latest close · −7.5% over the last 90 sessions

₹800₹850₹900₹950Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹800₹850₹900₹950Jul 3Sep 4Nov 9

₹861.45 month-end · −21.2% over 12 months

₹900₹1,000₹1,100Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹900₹1,000₹1,100Nov '25May '26Nov '26

₹861.45 month-end · +0.3% over 3 years

₹800₹1,000₹1,200Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹800₹1,000₹1,200Nov '23May '25Nov '26

₹861.45 month-end · +210.2% since Jan '19

₹500₹1,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹500₹1,000Jan '19Dec '22Nov '26

52-week range ₹797.00 to ₹1224.00 · 1-year volatility 29.9%

Was the rally earned?

-21%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 6 points, but investors now pay less per rupee of profit (P/E 19.6x to 14.5x), which took 27 points back.
  • The share count barely moved.
Net profit growth: +5 pts. Points of the price return explained by net profit growing (or shrinking).+5 ptsNet profit growthP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27 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: −21%−21%Share priceNet profit growth: +5 pts. Points of the price return explained by net profit growing (or shrinking).+5ProfitP/E change: −27 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−27P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −21%−21%Share price
Net profit growth+5 ptsNet profit rose about 6%, which lifts the price.
P/E change-27 ptsThe P/E fell from 19.6x to 14.5x, which lowers 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 fell 2%.
Net profit growth: +35 pts. Points of the price return explained by net profit growing (or shrinking).+35 ptsNet profit growthP/E change: −37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−37 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: 0%0%Share priceNet profit growth: +35 pts. Points of the price return explained by net profit growing (or shrinking).+35ProfitP/E change: −37 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−37P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: 0%0%Share price
Net profit growth+35 ptsNet profit growth over the period.
P/E change-37 ptsThe P/E fell from 21.0x to 14.5x, which lowers the price.
Share count change+2 ptsShare count fell 2%, which lifts the price.
+26%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 128 points, but investors now pay less per rupee of profit (P/E 36.0x to 14.5x), which took 102 points back.
  • The share count fell 2%.
Net profit growth: +125 pts. Points of the price return explained by net profit growing (or shrinking).+125 ptsNet profit growthP/E change: −102 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−102 ptsP/E changeShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3 ptsShare count changeShare price: +26%+26%Share priceNet profit growth: +125 pts. Points of the price return explained by net profit growing (or shrinking).+125ProfitP/E change: −102 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−102P/EShare count change: +3 pts. Points of the price return explained by the share count changing. More shares count against the price.+3SharesShare price: +26%+26%Share price
Net profit growth+125 ptsNet profit rose about 205%, which lifts the price.
P/E change-102 ptsThe P/E fell from 36.0x to 14.5x, which lowers the price.
Share count change+3 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 BLACKBUCK

How rough has the ride been?

Maximum drawdown-58.3%recovered 2021-05
1-year volatility29.9%annualised
Beta vs sector index0.443-year daily, correlation 0.35
Volume spikes6last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−54.3% 0%−20%−40%2020202220242026−54.3%
Largest drawdowns

-58.3% (2019-03 peak to 2020-03 low, recovered 2021-05)

-36.3% (2024-12 peak to 2026-09 low, not yet recovered)

-36.0% (2022-01 peak to 2022-03 low, recovered 2023-11)

Most recent volume spikes

2026-10-27: 5.2x the 50-day median, price +0.2% that day

2026-09-30: 6.8x the 50-day median, price +0.4% that day

2026-09-29: 19.6x the 50-day median, price +0.4% 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?

14.5xP/E todayWithin its usual range
Against its own history21st percentile
CheapestMedian 18.8xDearest

Usual range 13.2x to 23.8x since 2019-01.

Against Transportation14.5x vs 15.9x
This company
14.5x
Sector median
15.9x

9% below the Transportation median.

8.1x18.5x28.8x39.1xJan '19Aug '20Mar '22Oct '23May '25Nov '268.1x18.5x28.8x39.1xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianTransportation median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

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

Where does it rank among Transportation peers?

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

  • ROCE85th▲ 4 pts vs a year ago
  • Op. margin47thflat vs a year ago
  • Revenue growth42nd▼ 14 pts vs a year ago
  • EPS growth50th▼ 20 pts vs a year ago
  • Debt/equity ↓82nd▼ 3 pts vs a year ago
  • Cash cycle ↓60th▲ 8 pts vs a year ago
  • P/E ↓60th▲ 4 pts vs a year ago
  • 12M momentum28th▼ 52 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 Transportation sector page Watch it move against Transportation in the Observatory

What is the price implying?

~13%annual earnings growth implied by the priceBelow delivered growth

At normalised P/E (five-year average earnings) of 18.1x, a holder earning 12%/yr needs earnings to grow about 13.0%/yr for 10 years, then trade at 15x.

Delivered19.4%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−6.3 ptsimplied minus delivered
Rank656thmost demanding of 856

Over time

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

0%12%25% Jan 2019Nov 2026 0%12%25% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x14.4%15.4%16.4%
15x12.0%13.0%14.0%
20x9.0%10.0%10.9%

Drag a slider to test other assumptions

Implied: 13.0%/yr

Looking back

  • Jan 2020Price implied 15%/yr; EPS has since grown 18%/yr (7.0 yrs)
  • Jan 2021Price implied 12%/yr; EPS has since grown 22%/yr (6.0 yrs)
  • Jan 2022Price implied 24%/yr; EPS has since grown 25%/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 Transportation The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹861.45
P/E
14.5x
ROCE
19.0%
Market Cap
₹6618 cr
Revenue (TTM)
₹5026 cr
P/S
1.3x
P/B
2.6x
ROE
17.8%
Operating Margin
11.0%
Debt / Equity
0.1x
Promoter Holding
68.7%
12M Momentum
-21.2%

52-week range

₹797.00₹1224.00
15% of the way from its 52-week low to its high

Price risk

1Y volatility
29.9%
Beta vs sector
1-year daily
0.41

Balance sheet & cash

Interest cover
operating profit ÷ interest
21.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.90x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 6checks within range2 near a threshold
Other income reliance26%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 25.6%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate9%Near threshold

Median quarterly effective tax rate over about 2.5 years: 9.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.90xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 0.90x (cash from operations ₹1,102 cr, net profit ₹1,230 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+7 daysWithin range

Debtor days are above the median of the previous three fiscal years by 7 days (61 vs 54). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress29% of fixed assetsWithin range

Capital work-in-progress is 29% 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders rose from 42,383 to 48,535 (+15%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters69.0%68.7%-0.3 pts
FIIs2.6%3.0%+0.5 pts
DIIs12.9%12.7%-0.2 pts
Public and others15.6%15.6%0.0 pts

Number of shareholders

48,535shareholders+15% since Sep '23
41k45k48k52k Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 42,383
Dec '23: 41,164
Mar '24: 43,736
Jun '24: 43,822
Sep '24: 49,571
Dec '24: 51,797
Mar '25: 51,693
Jun '25: 50,827
Sep '25: 49,643
Dec '25: 47,661
Mar '26: 48,190
Jun '26: 48,535
 41k45k48k52k Sep '23Sep '24Sep '25Jun '26
Sep '23: 42,383
Dec '23: 41,164
Mar '24: 43,736
Jun '24: 43,822
Sep '24: 49,571
Dec '24: 51,797
Mar '25: 51,693
Jun '25: 50,827
Sep '25: 49,643
Dec '25: 47,661
Mar '26: 48,190
Jun '26: 48,535

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

−5.9%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 TRANSPORT CORPORATION OF INDIA 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 +31% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (−2.1%, 80% range −7.5% to +5.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ROUTE · Nov 2024: −55.4% vs market
DBCORP · Jan 2020: −50.1% vs market
GHCL · Mar 2023: −40.8% vs market
AHLUCONT · Aug 2025: −37.5% vs market
HERITGFOOD · Jul 2025: −34.7% vs market
EXIDEIND · Oct 2020: −31.9% vs market
PSPPROJECT · Nov 2023: −30.8% vs market
CROMPTON · Oct 2025: −28.4% vs market
JAGRAN · Mar 2020: −28.3% vs market
ROSSARI · Aug 2025: −27.1% vs market
ARE&M · Sep 2025: −24.2% vs market
VEEDOL · Sep 2025: −22.9% vs market
VAIBHAVGBL · May 2023: −21.7% vs market
HEIDELBERG · Apr 2023: −21.0% vs market
BALMLAWRIE · Sep 2020: −20.6% vs market
EXPLEOSOL · May 2025: −19.1% vs market
INDOCO · Jan 2023: −18.3% vs market
KANSAINER · May 2025: −15.9% vs market
SHRIPISTON · May 2020: −14.9% vs market
CIEINDIA · Dec 2024: −14.6% vs market
BSOFT · Oct 2025: −8.1% vs market
GALAXYSURF · Aug 2025: −7.5% vs market
DCMSHRIRAM · Nov 2023: −7.0% vs market
MASTEK · May 2024: −7.0% vs market
AMBIKCO · Mar 2020: −6.2% vs market
AARTIDRUGS · Jan 2023: −5.6% vs market
ORIENTCEM · Jun 2022: −4.4% vs market
KNRCON · Jun 2023: −1.6% vs market
LGBBROSLTD · Aug 2024: 0% vs market
VRLLOG · May 2020: +0.5% vs market
VSSL · Oct 2024: +4.7% vs market
GOODYEAR · May 2022: +15.4% vs market
DODLA · Sep 2022: +15.8% vs market
STARCEMENT · Nov 2024: +18.6% vs market
NILKAMAL · Nov 2020: +22.4% vs market
GAEL · Apr 2025: +23.4% vs market
KIRLOSENG · May 2020: +30.0% vs market
HEROMOTOCO · Aug 2023: +31.5% vs market
GRANULES · Jul 2023: +32.1% vs market
VTL · Sep 2020: +41.4% vs market
ZENSARTECH · Apr 2023: +49.1% vs market
CYIENT · Aug 2020: +58.1% vs market
USHAMART · May 2025: +59.7% vs market
INSECTICID · Nov 2021: +61.4% vs market
KEI · Jul 2021: +62.4% vs market
GODFRYPHLP · Feb 2022: +75.3% vs market
RATNAMANI · Jan 2022: +76.1% vs market
KPRMILL · Aug 2020: +103.1% vs market
GABRIEL · Nov 2024: +123.5% vs market
FSL · May 2020: +158.5% vs market
Similar setups −5.9%All companies −3.8%← 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 · 3 beyond the range shown, drawn at the edge

Similar setups' median
−5.9%
All companies' median
−3.8%
Beat the market
44% vs 46%

50 past situations · 50 companies · 33 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
SHRIPISTON
Producer Manufacturing		 May 2020 8x20% −48%−51% −15%
CYIENT
Technology Services		 Aug 2020 13x17% −8%−21% +58%
GALAXYSURF
Consumer Non-Durables		 Aug 2025 26x16% −23%−32% −8%
GODFRYPHLP
Consumer Non-Durables		 Feb 2022 14x15% +14%−25% +75%
ARE&M
Producer Manufacturing		 Sep 2025 21x16% −31%−31% −24%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DBCORP
Consumer Services		 Jan 2020 9x22% −22%−32% −50%
CIEINDIA
Producer Manufacturing		 Dec 2024 22x18% 0%−24% −15%
ROUTE
Communications		 Nov 2024 25x21% −7%−23% −55%
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, ROCE and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 5 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 TRANSPORT CORPORATION OF INDIA. 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.

GULF OIL LUBRICANTS INDIAGULFOILLUB
Energy Minerals
75%similar
P/Evolatility
CROMPTON GREAVES CONS ELECCROMPTON
Producer Manufacturing
72%similar
ROCEoperating margin
SHARDA MOTOR INDUSTRIESSHARDAMOTR
Producer Manufacturing
70%similar
revenue growthP/E
BALMER LAWRIE & COBALMLAWRIE
Producer Manufacturing
68%similar
debt/equityEPS growth
CIE AUTOMOTIVE INDIACIEINDIA
Producer Manufacturing
66%similar
P/Evolatility
CONTAINER CORPORATION OF INDIACONCOR
Transportation
42%similar
volatilitydebt/equity
BLUE DART EXPRESSBLUEDART
Transportation
39%similar
revenuerevenue growth
VRL LOGISTICSVRLLOG
Transportation
39%similar
market capROCE

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

What changed?

30 events since Jan '22

  1. OctPriceVolume reached 5.2x its 50-day median on 2026-10-27; price +0.2% that day.
  2. SepPriceFell 36% from the Dec 2024 peak to the Sep 2026 low.
  3. SepPeer rankSlipped to the 3rd quartile of Transportation on operating margin (from the 2nd quartile).
  4. SepPriceVolume reached 265.7x its 50-day median on 2026-09-25; price +6.0% that day.
  5. JunPeer rankMoved into the 2nd quartile of Transportation on operating margin (from the 3rd quartile).
  6. AprPriceVolume reached 46.7x its 50-day median on 2026-04-02; price +11.9% that day.
  7. JulPriceVolume reached 17.3x its 50-day median on 2025-07-10; price +7.4% that day.
  8. JunPeer rankMoved into the top quartile of Transportation on ROCE (from the 2nd quartile).
Show 22 earlier events
  1. MarPeer rankSlipped to the 2nd quartile of Transportation on ROCE (from the top quartile).
  2. JanPriceVolume reached 7.4x its 50-day median on 2025-01-27; price -2.0% that day.
  3. NovPeer rankMoved into the 2nd quartile of Transportation on operating margin (from the 3rd quartile).
  4. NovPriceVolume reached 24.8x its 50-day median on 2024-11-04; price +8.7% that day.
  5. AugPriceVolume reached 28.0x its 50-day median on 2024-08-22; price +11.6% that day.
  6. JunResultsRevenue (TTM) reached a new high of ₹4,024 cr.
  7. AprPriceVolume reached 7.3x its 50-day median on 2024-04-03; price +0.7% that day.
  8. JanPriceVolume reached 76.5x its 50-day median on 2024-01-31; price +11.7% that day.
  9. NovPriceRegained the 2022-01 peak, 20 months after the low.
  10. NovPriceVolume reached 13.7x its 50-day median on 2023-11-06; price +7.7% that day.
  11. SepPriceVolume reached 14.9x its 50-day median on 2023-09-21; price +1.6% that day.
  12. JunResultsRevenue (TTM) reached a new high of ₹3,783 cr.
  13. JunSharesShare count is up 6.7% over 12 months.
  14. MayPriceVolume reached 20.3x its 50-day median on 2023-05-11; price +6.0% that day.
  15. MarPriceVolume reached 17.4x its 50-day median on 2023-03-16; price +1.7% that day.
  16. OctPriceVolume reached 8.4x its 50-day median on 2022-10-20; price +3.8% that day.
  17. AugPriceVolume reached 14.9x its 50-day median on 2022-08-02; price +3.0% that day.
  18. JunResultsRevenue (TTM) reached a new high of ₹3,259 cr.
  19. MayPriceVolume reached 6.4x its 50-day median on 2022-05-05; price +4.2% that day.
  20. AprValuationP/E crossed above the 90th percentile of its own history to date (36.8x).
  21. MarPriceFell 36% from the Jan 2022 peak to the Mar 2022 low.
  22. JanPeer rankSlipped to the 2nd quartile of Transportation on EPS growth (from the top quartile).

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
2026-1114.5x₹5026 cr17.8%19.0%0.1x
2026-1014.8x₹5026 cr18.0%19.0%0.1x
2026-0914.7x₹5026 cr18.0%19.0%0.1x
2026-0814.6x₹4917 cr18.0%19.0%0.1x
2026-0715.6x₹4917 cr18.0%19.0%0.1x
2026-0615.5x₹4917 cr18.0%19.0%0.1x
2026-0515.7x₹4772 cr21.0%21.0%0.1x
2026-0415.9x₹4772 cr21.0%21.0%0.1x
2026-0315.8x₹4772 cr21.0%21.0%0.1x
2026-0217.7x₹4670 cr20.3%21.0%0.1x
2026-0118.8x₹4670 cr20.3%21.0%0.1x
2025-1219.0x₹4670 cr20.3%21.0%0.1x
2025-1119.6x₹4586 cr20.0%21.0%0.1x
2025-1021.5x₹4586 cr20.0%21.0%0.1x
2025-0921.1x₹4586 cr20.0%21.0%0.1x
2025-0821.2x₹4492 cr19.3%21.0%0.1x
2025-0721.9x₹4492 cr19.3%21.0%0.1x
2025-0621.1x₹4492 cr19.3%21.0%0.1x
2025-0521.7x₹4392 cr20.2%20.0%0.1x
2025-0420.1x₹4392 cr20.2%20.0%0.1x
2025-0321.2x₹4392 cr20.2%20.0%0.1x
2025-0218.4x₹4247 cr19.1%20.0%0.1x
2025-0121.7x₹4247 cr19.1%20.0%0.1x
2024-1223.5x₹4247 cr19.1%20.0%0.1x
2024-1123.1x₹4120 cr18.1%20.0%0.1x
2024-1023.3x₹4120 cr18.1%20.0%0.1x
2024-0923.1x₹4120 cr18.1%20.0%0.1x
2024-0824.1x₹4024 cr17.7%20.0%0.1x
2024-0722.5x₹4024 cr17.7%20.0%0.1x
2024-0620.0x₹4024 cr17.7%20.0%0.1x
2024-0520.5x₹3783 cr18.9%22.0%0.1x
2024-0421.4x₹3783 cr18.9%22.0%0.1x
2024-0319.8x₹3783 cr18.9%22.0%0.1x
2024-0220.3x₹3783 cr18.9%22.0%0.1x
2024-0122.9x₹3783 cr18.9%22.0%0.1x
2023-1220.1x₹3783 cr18.9%22.0%0.1x
2023-1121.0x₹3783 cr18.9%22.0%0.1x
2023-1020.0x₹3783 cr18.9%22.0%0.1x
2023-0919.2x₹3783 cr18.9%22.0%0.1x
2023-0819.8x₹3783 cr18.9%22.0%0.1x
2023-0718.4x₹3783 cr18.9%22.0%0.1x
2023-0617.5x₹3783 cr18.9%22.0%0.1x
2023-0518.9x₹3259 cr20.5%23.0%0.1x
2023-0416.9x₹3259 cr20.5%23.0%0.1x
2023-0316.7x₹3259 cr20.5%23.0%0.1x
2023-0217.4x₹3259 cr20.5%23.0%0.1x
2023-0116.8x₹3259 cr20.5%23.0%0.1x
2022-1216.5x₹3259 cr20.5%23.0%0.1x
2022-1118.5x₹3259 cr20.5%23.0%0.1x
2022-1019.1x₹3259 cr20.5%23.0%0.1x
2022-0920.5x₹3259 cr20.5%23.0%0.1x
2022-0819.1x₹3259 cr20.5%23.0%0.1x
2022-0718.5x₹3259 cr20.5%23.0%0.1x
2022-0618.0x₹3259 cr20.5%23.0%0.1x
2022-0538.7x₹2802 cr12.8%15.0%0.3x
2022-0436.8x₹2802 cr12.8%15.0%0.3x
2022-0331.4x₹2802 cr12.8%15.0%0.3x
2022-0232.5x₹2802 cr12.8%15.0%0.3x
2022-0136.7x₹2802 cr12.8%15.0%0.3x
2021-1239.1x₹2802 cr12.8%15.0%0.3x

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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