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TVS MOTOR COMPANY LIMITED (TVSMOTOR)

Consumer Durables · Motor Vehicles · 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.47 / 100
Profitability 64Growth 74Balance sheet 2
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.65 / 100
Price 68Earnings 62FII/DII 66

Passes these screensConsistent compoundersNear 52-week high

Compare withMAHINDRA & MAHINDRAMARUTI SUZUKI INDIABAJAJ AUTO

Share price

Closing priceAdjusted for splits and bonus issues.

₹4,505.9 latest close · +24.2% over the last 90 sessions

₹3,500₹4,000₹4,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹3,500₹4,000₹4,500Jul 3Sep 4Nov 9

₹4,505.9 month-end · +27.6% over 12 months

₹3,500₹4,000₹4,500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹3,500₹4,000₹4,500Nov '25May '26Nov '26

₹4,505.9 month-end · +141.7% over 3 years

₹2,000₹3,000₹4,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹2,000₹3,000₹4,000Nov '23May '25Nov '26

₹4,505.9 month-end · +801.2% since Jan '19

₹0₹2,000₹4,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹2,000₹4,000Jan '19Dec '22Nov '26

52-week range ₹3228.00 to ₹4516.20 · 1-year volatility 27.9%

Was the rally earned?

+28%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 41 points, but investors now pay less per rupee of profit (P/E 70.4x to 62.5x), which took 13 points back.
  • The share count fell 2%.
Net profit growth: +39 pts. Points of the price return explained by net profit growing (or shrinking).+39 ptsNet profit growthP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13 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: +28%+28%Share priceNet profit growth: +39 pts. Points of the price return explained by net profit growing (or shrinking).+39ProfitP/E change: −13 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−13P/EShare count change: +2 pts. Points of the price return explained by the share count changing. More shares count against the price.+2SharesShare price: +28%+28%Share price
Net profit growth+39 ptsNet profit rose about 41%, which lifts the price.
P/E change-13 ptsThe P/E fell from 70.4x to 62.5x, which lowers the price.
Share count change+2 ptsShare count fell 2%, which lifts the price.
+142%share price, 3 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 152 points, but investors now pay less per rupee of profit (P/E 66.7x to 62.5x), which took 10 points back.
  • The share count rose 6%.
Net profit growth: +161 pts. Points of the price return explained by net profit growing (or shrinking).+161 ptsNet profit growthP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10 ptsP/E changeShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9 ptsShare count changeShare price: +142%+142%Share priceNet profit growth: +161 pts. Points of the price return explained by net profit growing (or shrinking).+161ProfitP/E change: −10 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−10P/EShare count change: −9 pts. Points of the price return explained by the share count changing. More shares count against the price.−9SharesShare price: +142%+142%Share price
Net profit growth+161 ptsNet profit rose about 173%, which lifts the price.
P/E change-10 ptsThe P/E fell from 66.7x to 62.5x, which lowers the price.
Share count change-9 ptsShare count rose 6%, which lowers the price.
+556%share price, 5 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 518 points to the rise, while the multiple moved less (P/E 54.9x to 62.5x).
  • The share count barely moved.
Net profit growth: +524 pts. Points of the price return explained by net profit growing (or shrinking).+524 ptsNet profit growthP/E change: +38 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+38 ptsP/E changeShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5 ptsShare count changeShare price: +556%+556%Share priceNet profit growth: +524 pts. Points of the price return explained by net profit growing (or shrinking).+524ProfitP/E change: +38 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+38P/EShare count change: −5 pts. Points of the price return explained by the share count changing. More shares count against the price.−5SharesShare price: +556%+556%Share price
Net profit growth+524 ptsNet profit rose about 487%, which lifts the price.
P/E change+38 ptsThe P/E rose from 54.9x to 62.5x, which lifts the price.
Share count change-5 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 MAHINDRA & MAHINDRA

How rough has the ride been?

Maximum drawdown-55.2%recovered 2021-02
1-year volatility27.9%annualised
Beta vs sector index1.113-year daily, correlation 0.70
Volume spikes0last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−55.2% 0%−20%−40%2020202220242026−55.2%
Largest drawdowns

-55.2% (2019-01 peak to 2020-04 low, recovered 2021-02)

-29.6% (2021-11 peak to 2022-03 low, recovered 2022-06)

-26.2% (2024-09 peak to 2025-01 low, recovered 2025-08)

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?

62.5xP/E todayWithin its usual range
Against its own history65th percentile
CheapestMedian 55.2xDearest

Usual range 30.3x to 71.5x since 2019-01.

Against Consumer Durables62.5x vs 25.5x
This company
62.5x
Sector median
25.5x

145% above the Consumer Durables median.

13.1x36.0x58.9x81.8xJan '19Aug '20Mar '22Oct '23May '25Nov '2613.1x36.0x58.9x81.8xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianConsumer Durables median

The chart loads when you open this tab.

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianConsumer Durables 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 Consumer Durables is valued

Where does it rank among Consumer Durables peers?

Each cell is the company's percentile rank among its Consumer Durables 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

  • ROCE56th▼ 3 pts vs a year ago
  • Op. margin71st▼ 3 pts vs a year ago
  • Revenue growth70th▲ 11 pts vs a year ago
  • EPS growth71st▼ 13 pts vs a year ago
  • Debt/equity ↓2ndflat vs a year ago
  • Cash cycle ↓94thflat vs a year ago
  • P/E ↓11th▼ 8 pts vs a year ago
  • 12M momentum83rd▼ 6 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 Consumer Durables sector page Watch it move against Consumer Durables in the Observatory

What is the price implying?

~37%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 119.8x, a holder earning 12%/yr needs earnings to grow about 37.0%/yr for 10 years, then trade at 15x.

Delivered21.3%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+15.7 ptsimplied minus delivered
Rank220thmost demanding of 856

Over time

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

0%20%39% Jan 2019Nov 2026 0%20%39% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x38.7%39.9%41.2%
15x35.8%37.0%38.2%
20x32.1%33.3%34.4%

Drag a slider to test other assumptions

Implied: 37.0%/yr

Looking back

  • Jan 2020Price implied 19%/yr; EPS has since grown 24%/yr (7.0 yrs)
  • Jan 2021Price implied 23%/yr; EPS has since grown 30%/yr (6.0 yrs)
  • Jan 2022Price implied 25%/yr; EPS has since grown 39%/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 Consumer Durables The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹4505.90
P/E
62.5x
ROCE
17.0%
Market Cap
₹2.14L cr
Revenue (TTM)
₹60156 cr
P/S
3.6x
P/B
22.4x
ROE
35.8%
Operating Margin
14.0%
Debt / Equity
3.4x
Promoter Holding
50.3%
12M Momentum
27.6%

52-week range

₹3228.00₹4516.20
99% of the way from its 52-week low to its high

Price risk

1Y volatility
27.9%
Beta vs sector
1-year daily
1.12

Balance sheet & cash

Interest cover
operating profit ÷ interest
3.4x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.56x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold
Other income reliance2%Within range

Other income as a share of pre-tax profit (trailing twelve months): 1.7%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate33%Within range

Median quarterly effective tax rate over about 2.5 years: 33.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.56xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.56x (cash from operations ₹4,117 cr, net profit ₹7,345 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+3 daysWithin range

Debtor days are above the median of the previous three fiscal years by 3 days (17 vs 14). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress24% of fixed assetsWithin range

Capital work-in-progress is 24% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+3 days / 2 yrsWithin range

Days payable changed by +3 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 3 years, DIIs trimmed 2.0 pts; FIIs added 1.9 pts.
  • The number of shareholders rose from 2.0 lakh to 3.3 lakh (+64%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change
Promoters50.3%50.3%0.0 pts
FIIs18.5%20.4%+1.9 pts
DIIs23.1%21.1%-2.0 pts
Public and others8.1%8.1%0.0 pts

Number of shareholders

3.3 lakhshareholders+64% since Sep '23
2.0L2.5L2.9L3.3L Sep '23Jun '24Mar '25Dec '25Jun '26
Sep '23: 2.0 lakh
Dec '23: 2.4 lakh
Mar '24: 2.6 lakh
Jun '24: 2.7 lakh
Sep '24: 2.7 lakh
Dec '24: 2.9 lakh
Mar '25: 3.0 lakh
Jun '25: 3.0 lakh
Sep '25: 3.1 lakh
Dec '25: 3.2 lakh
Mar '26: 3.2 lakh
Jun '26: 3.3 lakh
 2.0L2.5L2.9L3.3L Sep '23Sep '24Sep '25Jun '26
Sep '23: 2.0 lakh
Dec '23: 2.4 lakh
Mar '24: 2.6 lakh
Jun '24: 2.7 lakh
Sep '24: 2.7 lakh
Dec '24: 2.9 lakh
Mar '25: 3.0 lakh
Jun '25: 3.0 lakh
Sep '25: 3.1 lakh
Dec '25: 3.2 lakh
Mar '26: 3.2 lakh
Jun '26: 3.3 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

−4.6%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 TVS MOTOR COMPANY 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 −24% to +15% vs the market, against −7% for all non-financial companies in the same months.
  • The gap against the base rate (+2.1%, 80% range −8.9% to +6.2%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
UNITDSPR · Feb 2020: −42.7% vs market
KIRLOSENG · Jun 2024: −40.2% vs market
KALYANKJIL · Dec 2024: −40.0% vs market
PVRINOX · Jan 2020: −38.0% vs market
SHOPERSTOP · Jun 2023: −37.0% vs market
JUBLFOOD · Jan 2025: −33.4% vs market
WESTLIFE · Jun 2023: −33.0% vs market
GODREJIND · Mar 2025: −32.1% vs market
RELIANCE · Aug 2020: −31.8% vs market
BRIGADE · Sep 2024: −31.5% vs market
ZYDUSLIFE · Nov 2020: −26.7% vs market
TORNTPOWER · Apr 2020: −24.9% vs market
BLUEDART · May 2022: −23.9% vs market
POWERGRID · Mar 2020: −23.8% vs market
COROMANDEL · Mar 2020: −21.1% vs market
INDIGO · Mar 2025: −20.8% vs market
TORNTPHARM · Feb 2020: −17.0% vs market
TATAPOWER · Apr 2024: −15.8% vs market
ADANIENT · Jul 2022: −15.4% vs market
M&M · Sep 2025: −14.4% vs market
UNOMINDA · Sep 2025: −10.4% vs market
JKCEMENT · May 2025: −8.0% vs market
TATACOMM · Oct 2025: −5.6% vs market
ADANIPORTS · May 2024: −5.2% vs market
HATSUN · Oct 2025: −4.9% vs market
GRASIM · Apr 2025: −4.3% vs market
JSWENERGY · Mar 2024: −1.8% vs market
V2RETAIL · Sep 2025: −0.3% vs market
ASHOKLEY · May 2024: +0.2% vs market
HCG · Mar 2025: +0.2% vs market
BHARATFORG · Aug 2023: +0.7% vs market
LT · Oct 2025: +1.5% vs market
ASAHIINDIA · Oct 2025: +3.6% vs market
JSWSTEEL · Mar 2025: +8.5% vs market
APOLLOHOSP · Aug 2025: +8.6% vs market
NH · Nov 2020: +9.4% vs market
BHARTIARTL · Jun 2023: +12.2% vs market
ULTRACEMCO · Mar 2020: +15.5% vs market
CCL · May 2025: +16.6% vs market
BLUESTARCO · Feb 2023: +18.4% vs market
KIMS · Jun 2025: +20.7% vs market
TITAN · Oct 2025: +25.1% vs market
PRESTIGE · Nov 2023: +27.3% vs market
PRIVISCL · Jul 2025: +34.4% vs market
CRAFTSMAN · Jul 2025: +38.8% vs market
SRF · Oct 2020: +50.1% vs market
TIINDIA · Aug 2021: +54.8% vs market
VBL · Jun 2022: +69.1% vs market
TRENT · Oct 2023: +137.4% vs market
ADANIENSOL · Jan 2021: +214.8% vs market
Similar setups −4.6%All companies −6.7%← 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
−4.6%
All companies' median
−6.7%
Beat the market
44% vs 43%

50 past situations · 50 companies · 32 months · 2020–2025

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
TITAN
Consumer Durables		 Oct 2025 90x19% +15%−1% +25%
APOLLOHOSP
Health Services		 Aug 2025 76x17% +10%−4% +9%
INDIGO
Transportation		 Mar 2025 33x24% +44%0% −21%
LT
Industrial Services		 Oct 2025 35x15% +11%0% +2%
BHARTIARTL
Communications		 Jun 2023 59x12% +28%0% +12%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JKCEMENT
Non-Energy Minerals		 May 2025 59x16% +42%0% −8%
JUBLFOOD
Consumer Services		 Jan 2025 118x11% +36%−8% −33%
M&M
Consumer Durables		 Sep 2025 31x14% +11%−7% −14%
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 P/S. 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 TVS MOTOR COMPANY 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.

APOLLO HOSPITALS ENTERPRISES LAPOLLOHOSP
Health Services
75%similar
ROCEEPS growth
JK CEMENTJKCEMENT
Non-Energy Minerals
71%similar
EPS growthpromoter holding
FSN ECOMMERCE VENTURES NYKAANYKAA
Retail Trade
70%similar
ROCEvolatility
LARSEN AND TOUBROLT
Industrial Services
65%similar
market caprevenue
CRAFTSMAN AUTOMATIONCRAFTSMAN
Producer Manufacturing
64%similar
P/Edebt/equity
TITAN COMPANYTITAN
Consumer Durables
81%similar
operating marginrevenue
MAHINDRA & MAHINDRAM&M
Consumer Durables
54%similar
volatilitymarket cap
BAJAJ AUTOBAJAJ-AUTO
Consumer Durables
53%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 Jan '21

  1. JunPeer rankSlipped to the 2nd quartile of Consumer Durables on EPS growth (from the top quartile).
  2. SepPeer rankSlipped to the 2nd quartile of Consumer Durables on operating margin (from the top quartile).
  3. AugPriceRegained the 2024-09 peak, 7 months after the low.
  4. AugPriceVolume reached 6.1x its 50-day median on 2025-08-18; price +6.6% that day.
  5. JunPeer rankMoved into the top quartile of Consumer Durables on operating margin (from the 2nd quartile).
  6. JanPriceFell 26% from the Sep 2024 peak to the Jan 2025 low.
  7. JanPriceVolume reached 5.3x its 50-day median on 2025-01-29; price +5.5% that day.
  8. AugValuationP/E crossed above the 90th percentile of its own history to date (79.2x).
Show 22 earlier events
  1. JunResultsRevenue (TTM) reached a new high of ₹38,779 cr.
  2. JunPeer rankSlipped to the 2nd quartile of Consumer Durables on EPS growth (from the top quartile).
  3. MayPriceVolume reached 5.8x its 50-day median on 2024-05-09; price +3.4% that day.
  4. NovValuationP/E crossed above the 90th percentile of its own history to date (66.7x).
  5. JulPriceVolume reached 6.7x its 50-day median on 2023-07-25; price +5.9% that day.
  6. JunResultsRevenue (TTM) reached a new high of ₹31,974 cr.
  7. JunPeer rankMoved into the top quartile of Consumer Durables on EPS growth (from the 2nd quartile).
  8. MayPriceVolume reached 5.4x its 50-day median on 2023-05-05; price +3.9% that day.
  9. NovPriceVolume reached 17.7x its 50-day median on 2022-11-30; price +0.8% that day.
  10. JulPriceVolume reached 6.2x its 50-day median on 2022-07-29; price +4.3% that day.
  11. JunResultsYear-on-year EPS growth turned positive.
  12. JunPriceRegained the 2021-11 peak, 3 months after the low.
  13. MarPriceFell 30% from the Nov 2021 peak to the Mar 2022 low.
  14. FebValuationP/E crossed above the 90th percentile of its own history to date (49.4x).
  15. FebPriceVolume reached 9.5x its 50-day median on 2022-02-08; price +3.1% that day.
  16. NovPriceVolume reached 14.0x its 50-day median on 2021-11-09; price +2.7% that day.
  17. OctValuationP/E crossed above the 90th percentile of its own history to date (53.0x).
  18. JulPriceVolume reached 6.7x its 50-day median on 2021-07-30; price +3.1% that day.
  19. AprPriceVolume reached 23.3x its 50-day median on 2021-04-28; price +14.0% that day.
  20. FebPriceRegained the 2019-01 peak, 10 months after the low.
  21. JanValuationP/E crossed above the 90th percentile of its own history to date (42.6x).
  22. JanPriceVolume reached 14.0x its 50-day median on 2021-01-29; price +6.0% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history60 months · 2021-12 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1162.5x₹60156 cr35.8%17.0%3.4x
2026-1058.1x₹60156 cr36.1%17.0%3.4x
2026-0956.9x₹60156 cr36.1%17.0%3.4x
2026-0868.3x₹56070 cr32.0%17.0%3.4x
2026-0767.9x₹56070 cr32.0%17.0%3.4x
2026-0654.5x₹56070 cr32.0%17.0%3.4x
2026-0555.1x₹52559 cr34.6%15.0%3.4x
2026-0457.3x₹52559 cr34.6%15.0%3.4x
2026-0355.2x₹52559 cr34.6%15.0%3.4x
2026-0270.2x₹48838 cr31.4%15.0%3.4x
2026-0166.7x₹48838 cr31.4%15.0%3.4x
2025-1267.5x₹48838 cr31.4%15.0%3.4x
2025-1170.4x₹46089 cr28.6%15.0%3.4x
2025-1069.9x₹46089 cr28.6%15.0%3.4x
2025-0968.5x₹46089 cr28.6%15.0%3.4x
2025-0869.6x₹44193 cr26.9%15.0%3.4x
2025-0759.5x₹44193 cr26.9%15.0%3.4x
2025-0662.0x₹44193 cr26.9%15.0%3.4x
2025-0566.9x₹42593 cr29.6%15.0%3.8x
2025-0464.3x₹42593 cr29.6%15.0%3.8x
2025-0358.2x₹42593 cr29.6%15.0%3.8x
2025-0256.0x₹41672 cr28.2%15.0%3.8x
2025-0161.9x₹41672 cr28.2%15.0%3.8x
2024-1259.6x₹41672 cr28.2%15.0%3.8x
2024-1167.5x₹40303 cr25.8%15.0%3.8x
2024-1069.2x₹40303 cr25.8%15.0%3.8x
2024-0978.8x₹40303 cr25.8%15.0%3.8x
2024-0879.2x₹38779 cr25.2%15.0%3.8x
2024-0771.3x₹38779 cr25.2%15.0%3.8x
2024-0666.6x₹38779 cr25.2%15.0%3.8x
2024-0577.9x₹31974 cr22.8%13.0%4.1x
2024-0473.7x₹31974 cr22.8%13.0%4.1x
2024-0376.9x₹31974 cr22.8%13.0%4.1x
2024-0276.5x₹31974 cr22.8%13.0%4.1x
2024-0171.6x₹31974 cr22.8%13.0%4.1x
2023-1272.4x₹31974 cr22.8%13.0%4.1x
2023-1166.7x₹31974 cr22.8%13.0%4.1x
2023-1056.9x₹31974 cr22.8%13.0%4.1x
2023-0954.4x₹31974 cr22.8%13.0%4.1x
2023-0850.8x₹31974 cr22.8%13.0%4.1x
2023-0749.2x₹31974 cr22.8%13.0%4.1x
2023-0647.4x₹31974 cr22.8%13.0%4.1x
2023-0581.8x₹24355 cr15.9%11.0%3.6x
2023-0471.5x₹24355 cr15.9%11.0%3.6x
2023-0367.6x₹24355 cr15.9%11.0%3.6x
2023-0267.8x₹24355 cr15.9%11.0%3.6x
2023-0165.1x₹24355 cr15.9%11.0%3.6x
2022-1268.1x₹24355 cr15.9%11.0%3.6x
2022-1165.8x₹24355 cr15.9%11.0%3.6x
2022-1071.9x₹24355 cr15.9%11.0%3.6x
2022-0964.8x₹24355 cr15.9%11.0%3.6x
2022-0861.9x₹24355 cr15.9%11.0%3.6x
2022-0757.0x₹24355 cr15.9%11.0%3.6x
2022-0652.9x₹24355 cr15.9%11.0%3.6x
2022-0558.9x₹19421 cr15.2%11.0%3.2x
2022-0452.3x₹19421 cr15.2%11.0%3.2x
2022-0350.0x₹19421 cr15.2%11.0%3.2x
2022-0249.4x₹19421 cr15.2%11.0%3.2x
2022-0148.5x₹19421 cr15.2%11.0%3.2x
2021-1250.1x₹19421 cr15.2%11.0%3.2x

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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