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VALIANT ORGANICS LTD (VALIANTORG)

Process Industries

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 50Growth 17Balance sheet 61
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.80 / 100
Price 99Earnings 88FII/DII 54
Compare withCOROMANDEL INTERNATIONAL LIMITLINDE INDIA LIMITEDGUJARAT FLUOROCHEMICALS LTD

Passes these screens: High Momentum

Share Price
₹418.20
P/E
21.7x
ROCE
5.0%
Market Cap
₹1173 cr
Revenue (TTM)
₹766 cr
P/S
1.5x
P/B
1.5x
ROE
7.1%
Operating Margin
18.0%
Debt / Equity
0.3x
Promoter Holding
37.9%
12M Momentum
39.3%
P/E vs its own history48th percentilesince Oct '20
P/E vs Process Industries1.2xthe sector median

52-week range

₹195.00₹505.00
72% of the way from its 52-week low to its high

Price risk

1Y volatility
56.0%
Beta vs sector
1-year daily
1.27

Balance sheet & cash

Interest cover
operating profit ÷ interest
5.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
5.00x
Share count, 1Y
unchanged

Was the rally earned?

+39%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 283 points, but investors now pay less per rupee of profit (P/E 168.6x to 21.7x), which took 243 points back.
  • The share count barely moved.
1 year Net profit growth: +282 pts. Points of the price return explained by net profit growing (or shrinking).+282 ptsP/E change: -243 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-243 ptsShare count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. +39% 1 year Net profit growth: +282 pts. Points of the price return explained by net profit growing (or shrinking).+282 ptsP/E change: -243 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-243 ptsShare count change: +0 pts. Points of the price return explained by the share count changing. More shares count against the price. +39%
Net profit growth+282 ptsNet profit rose about 982%, which lifts the price.
P/E change-243 ptsThe P/E fell from 168.6x to 21.7x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-5%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 51 points, while the multiple moved less (P/E 13.6x to 21.7x).
  • The share count fell 12%.
3 years Net profit growth: -63 pts. Points of the price return explained by net profit growing (or shrinking).-63 ptsP/E change: +46 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+46 ptsShare count change: +12 pts. Points of the price return explained by the share count changing. More shares count against the price.+12 pts -5% 3 years Net profit growth: -63 pts. Points of the price return explained by net profit growing (or shrinking).-63 ptsP/E change: +46 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+46 ptsShare count change: +12 pts. Points of the price return explained by the share count changing. More shares count against the price. -5%
Net profit growth-63 ptsNet profit fell about 47%, which lowers the price.
P/E change+46 ptsThe P/E rose from 13.6x to 21.7x, which lifts the price.
Share count change+12 ptsShare count fell 12%, which lifts the price.
-68%share price, 5 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 47 points, while the multiple moved less (P/E 31.0x to 21.7x).
  • The share count fell 10%.
5 years Net profit growth: -53 pts. Points of the price return explained by net profit growing (or shrinking).-53 ptsP/E change: -21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-21 ptsShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price. -68% 5 years Net profit growth: -53 pts. Points of the price return explained by net profit growing (or shrinking).-53 ptsP/E change: -21 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-21 ptsShare count change: +6 pts. Points of the price return explained by the share count changing. More shares count against the price. -68%
Net profit growth-53 ptsNet profit fell about 59%, which lowers the price.
P/E change-21 ptsThe P/E fell from 31.0x to 21.7x, which lowers the price.
Share count change+6 ptsShare count fell 10%, 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 COROMANDEL INTERNATIONAL LIMIT

Is it expensive against its own past and its peers?

21.7xP/E todayWithin its usual range
Against its own history48th percentileMedian 22.2x; usual range 12.6x to 33.7x since 2020-10.
Against Process Industries21.7x vs 18.0xAbove the Process Industries median.
9.7x67.7x125.7x183.7xOct '20Jan '22Apr '23Jul '24Oct '25Oct '269.7x67.7x125.7x183.7xOct '20Oct '22Oct '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianProcess Industries median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianProcess Industries median
How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dashed 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 Process Industries is valued

What is the price implying?

~17%annual earnings growth implied by the priceAbove delivered growth

At normalised P/E (five-year average earnings) of 23.6x, a holder earning 12%/yr needs earnings to grow about 17.2%/yr for 10 years, then trade at 15x.

Delivered−51.5%/yrEPS, last 7 fiscal years · 3-yr avg to 3-yr avg
Gap+47.2 ptsimplied minus delivered
Rank14thmost demanding of 843

Over time

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

-52%-15%23% Oct 2020Oct 2026 -52%-15%23% Oct 2020Oct 2026

Change the assumptions

Exit P/E / return11%12%13%
12x18.7%19.8%20.9%
15x16.1%17.2%18.2%
20x12.8%13.9%14.9%
Implied: 17.2%/yr

Looking back

  • Jan 2021Price implied 18%/yr; EPS has since grown −22%/yr (6.0 yrs)
  • Jan 2022Price implied 18%/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 Process Industries The market-wide Expectations lists

What changed?

  1. Oct '26Volume reached 12.9x its 50-day median on 2026-10-01; price +4.8% that day.
  2. Sep '26Year-on-year EPS growth turned positive.
  3. Sep '26Moved into the top quartile of Process Industries on operating margin (from the 2nd quartile).
  4. Sep '26Volume reached 15.2x its 50-day median on 2026-09-30; price +12.5% that day.
  5. Jun '26Moved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  6. May '26Volume reached 13.0x its 50-day median on 2026-05-18; price +1.8% that day.
  7. Apr '26P/E crossed above the 90th percentile of its own history to date (35.2x).
  8. Mar '26Fell 89% from the Nov 2020 peak to the Mar 2026 low.
Show 22 earlier events
  1. Mar '26Slipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  2. Mar '26Volume reached 99.7x its 50-day median on 2026-03-19; price +9.4% that day.
  3. Sep '25EPS (TTM) turned positive.
  4. Sep '25P/E crossed above the 90th percentile of its own history to date (183.7x).
  5. Jun '25Moved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  6. Apr '25Volume reached 18.2x its 50-day median on 2025-04-02; price +13.6% that day.
  7. Mar '25Moved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
  8. Feb '25Volume reached 14.9x its 50-day median on 2025-02-14; price +6.7% that day.
  9. Dec '24Slipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
  10. Sep '24Moved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
  11. Sep '24Volume reached 13.6x its 50-day median on 2024-09-10; price +5.5% that day.
  12. Jun '24EPS (TTM) turned negative.
  13. Jun '24Slipped to the bottom quartile of Process Industries on ROCE (from the 2nd quartile).
  14. Jun '24Dividend payout cut from 3% to 0% of profit.
  15. Jun '24Volume reached 6.2x its 50-day median on 2024-06-19; price +5.3% that day.
  16. Mar '24P/E fell below the 10th percentile of its own history to date (11.7x).
  17. Mar '24Volume reached 12.1x its 50-day median on 2024-03-05; price +4.8% that day.
  18. Dec '23Volume reached 7.7x its 50-day median on 2023-12-27; price +3.8% that day.
  19. Aug '23Volume reached 7.2x its 50-day median on 2023-08-10; price -10.0% that day.
  20. Jun '23Moved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).
  21. Jun '23Dividend payout cut from 8% to 3% of profit.
  22. May '23Volume reached 14.7x its 50-day median on 2023-05-23; price +15.8% 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

Are profits backed by cash?

5 of 7 checks are within range, 2 near a threshold.
Tap a check to see how it is measured.

Other income reliance34%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 33.8%. 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 conversion10.55xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 10.55x (cash from operations ₹232 cr, net profit ₹22 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+30 daysNear threshold

Debtor days are above the median of the previous three fiscal years by 30 days (120 vs 90). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress3% of fixed assetsWithin range

Capital work-in-progress is 3% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-57 days / 2 yrsWithin range

Days payable changed by -57 over two years. Bands: rise of up to 30 days; more than 30 days.

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, DIIs trimmed 0.9 pts.
  • The number of shareholders fell from 49,050 to 40,526 (-17%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters37.9%37.9%0.0 pts
FIIs0.7%0.2%-0.5 pts
DIIs0.9%0.0%-0.9 pts
Public and others60.5%61.9%+1.4 pts

Number of shareholders

40,526shareholders-17% since Dec '23
41k44k47k50k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 49,050
Mar '24: 50,460
Jun '24: 50,022
Sep '24: 48,189
Dec '24: 49,017
Mar '25: 48,077
Jun '25: 44,293
Sep '25: 43,274
Dec '25: 42,311
Mar '26: 40,928
Jun '26: 40,526
 41k44k47k50k Dec '23Dec '24Dec '25Jun '26
Dec '23: 49,050
Mar '24: 50,460
Jun '24: 50,022
Sep '24: 48,189
Dec '24: 49,017
Mar '25: 48,077
Jun '25: 44,293
Sep '25: 43,274
Dec '25: 42,311
Mar '26: 40,928
Jun '26: 40,526

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

How rough has the ride been?

Maximum drawdown-89.4%not yet recovered
1-year volatility56.0%annualised
Beta vs sector index1.143-year daily, correlation 0.41
Volume spikes12last 90 sessions, 5x the 50-day median

Monthly share price

₹202₹688₹1,174₹1,660 Oct '20Jan '22Apr '23Jul '24Oct '25Oct '26
2020-10: ₹1660.10
2020-11: ₹1567.00
2020-12: ₹1535.60
2021-01: ₹1363.95
2021-02: ₹1257.55
2021-03: ₹1291.95
2021-04: ₹1547.35
2021-05: ₹1533.95
2021-06: ₹1565.40
2021-07: ₹1383.00
2021-08: ₹1283.45
2021-09: ₹1395.95
2021-10: ₹1309.45
2021-11: ₹1008.50
2021-12: ₹1042.80
2022-01: ₹1118.70
2022-02: ₹886.35
2022-03: ₹920.90
2022-04: ₹889.95
2022-05: ₹676.15
2022-06: ₹532.95
2022-07: ₹670.00
2022-08: ₹596.55
2022-09: ₹739.85
2022-10: ₹669.35
2022-11: ₹644.55
2022-12: ₹595.90
2023-01: ₹477.40
2023-02: ₹403.65
2023-03: ₹416.85
2023-04: ₹503.65
2023-05: ₹594.95
2023-06: ₹559.15
2023-07: ₹552.30
2023-08: ₹507.30
2023-09: ₹472.35
2023-10: ₹440.15
2023-11: ₹473.30
2023-12: ₹503.95
2024-01: ₹485.85
2024-02: ₹426.60
2024-03: ₹380.80
2024-04: ₹419.05
2024-05: ₹391.05
2024-06: ₹402.90
2024-07: ₹404.65
2024-08: ₹410.40
2024-09: ₹403.70
2024-10: ₹397.80
2024-11: ₹337.35
2024-12: ₹306.35
2025-01: ₹284.70
2025-02: ₹266.95
2025-03: ₹260.65
2025-04: ₹322.20
2025-05: ₹455.80
2025-06: ₹409.75
2025-07: ₹353.65
2025-08: ₹335.10
2025-09: ₹326.90
2025-10: ₹300.15
2025-11: ₹252.20
2025-12: ₹273.50
2026-01: ₹240.90
2026-02: ₹229.58
2026-03: ₹202.07
2026-04: ₹272.58
2026-05: ₹297.20
2026-06: ₹274.10
2026-07: ₹266.70
2026-08: ₹290.65
2026-09: ₹455.10
2026-10: ₹418.20
 ₹202₹688₹1,174₹1,660 Oct '20Oct '22Oct '24Oct '26
2020-10: ₹1660.10
2020-11: ₹1567.00
2020-12: ₹1535.60
2021-01: ₹1363.95
2021-02: ₹1257.55
2021-03: ₹1291.95
2021-04: ₹1547.35
2021-05: ₹1533.95
2021-06: ₹1565.40
2021-07: ₹1383.00
2021-08: ₹1283.45
2021-09: ₹1395.95
2021-10: ₹1309.45
2021-11: ₹1008.50
2021-12: ₹1042.80
2022-01: ₹1118.70
2022-02: ₹886.35
2022-03: ₹920.90
2022-04: ₹889.95
2022-05: ₹676.15
2022-06: ₹532.95
2022-07: ₹670.00
2022-08: ₹596.55
2022-09: ₹739.85
2022-10: ₹669.35
2022-11: ₹644.55
2022-12: ₹595.90
2023-01: ₹477.40
2023-02: ₹403.65
2023-03: ₹416.85
2023-04: ₹503.65
2023-05: ₹594.95
2023-06: ₹559.15
2023-07: ₹552.30
2023-08: ₹507.30
2023-09: ₹472.35
2023-10: ₹440.15
2023-11: ₹473.30
2023-12: ₹503.95
2024-01: ₹485.85
2024-02: ₹426.60
2024-03: ₹380.80
2024-04: ₹419.05
2024-05: ₹391.05
2024-06: ₹402.90
2024-07: ₹404.65
2024-08: ₹410.40
2024-09: ₹403.70
2024-10: ₹397.80
2024-11: ₹337.35
2024-12: ₹306.35
2025-01: ₹284.70
2025-02: ₹266.95
2025-03: ₹260.65
2025-04: ₹322.20
2025-05: ₹455.80
2025-06: ₹409.75
2025-07: ₹353.65
2025-08: ₹335.10
2025-09: ₹326.90
2025-10: ₹300.15
2025-11: ₹252.20
2025-12: ₹273.50
2026-01: ₹240.90
2026-02: ₹229.58
2026-03: ₹202.07
2026-04: ₹272.58
2026-05: ₹297.20
2026-06: ₹274.10
2026-07: ₹266.70
2026-08: ₹290.65
2026-09: ₹455.10
2026-10: ₹418.20

Last 90 trading days

₹262₹340₹418₹497 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹286.70
2026-06-25: ₹284.90
2026-06-30: ₹274.10
2026-07-02: ₹277.35
2026-07-06: ₹277.60
2026-07-08: ₹275.55
2026-07-10: ₹279.05
2026-07-14: ₹274.20
2026-07-16: ₹271.55
2026-07-20: ₹267.15
2026-07-22: ₹265.95
2026-07-24: ₹262.85
2026-07-28: ₹261.55
2026-07-30: ₹266.05
2026-08-03: ₹280.00
2026-08-05: ₹286.55
2026-08-07: ₹288.50
2026-08-11: ₹309.85
2026-08-13: ₹341.55
2026-08-17: ₹308.30
2026-08-19: ₹316.55
2026-08-21: ₹302.70
2026-08-25: ₹292.30
2026-08-27: ₹300.60
2026-08-31: ₹290.65
2026-09-02: ₹301.10
2026-09-04: ₹320.25
2026-09-08: ₹342.40
2026-09-10: ₹377.45
2026-09-15: ₹388.35
2026-09-17: ₹408.45
2026-09-21: ₹422.95
2026-09-23: ₹420.80
2026-09-25: ₹410.45
2026-09-29: ₹404.60
2026-10-01: ₹477.15
2026-10-06: ₹496.80
2026-10-08: ₹450.60
2026-10-12: ₹471.85
2026-10-14: ₹458.20
2026-10-16: ₹468.55
2026-10-21: ₹428.65
2026-10-23: ₹412.65
2026-10-27: ₹426.45
2026-10-29: ₹435.45
2026-10-30: ₹418.20
 ₹262₹340₹418₹497 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹286.70
2026-06-25: ₹284.90
2026-06-30: ₹274.10
2026-07-02: ₹277.35
2026-07-06: ₹277.60
2026-07-08: ₹275.55
2026-07-10: ₹279.05
2026-07-14: ₹274.20
2026-07-16: ₹271.55
2026-07-20: ₹267.15
2026-07-22: ₹265.95
2026-07-24: ₹262.85
2026-07-28: ₹261.55
2026-07-30: ₹266.05
2026-08-03: ₹280.00
2026-08-05: ₹286.55
2026-08-07: ₹288.50
2026-08-11: ₹309.85
2026-08-13: ₹341.55
2026-08-17: ₹308.30
2026-08-19: ₹316.55
2026-08-21: ₹302.70
2026-08-25: ₹292.30
2026-08-27: ₹300.60
2026-08-31: ₹290.65
2026-09-02: ₹301.10
2026-09-04: ₹320.25
2026-09-08: ₹342.40
2026-09-10: ₹377.45
2026-09-15: ₹388.35
2026-09-17: ₹408.45
2026-09-21: ₹422.95
2026-09-23: ₹420.80
2026-09-25: ₹410.45
2026-09-29: ₹404.60
2026-10-01: ₹477.15
2026-10-06: ₹496.80
2026-10-08: ₹450.60
2026-10-12: ₹471.85
2026-10-14: ₹458.20
2026-10-16: ₹468.55
2026-10-21: ₹428.65
2026-10-23: ₹412.65
2026-10-27: ₹426.45
2026-10-29: ₹435.45
2026-10-30: ₹418.20

Drawdown from peak

0% -44% -89% Oct '20Oct '23Oct '26 0% -44% -89% Oct '20Oct '23Oct '26
Largest drawdowns

-89.4% (2020-11 peak to 2026-03 low, not yet recovered)

Most recent volume spikes

2026-10-06: 5.5x the 50-day median, price +4.4% that day

2026-10-05: 10.1x the 50-day median, price -0.3% that day

2026-10-01: 12.9x the 50-day median, price +4.8% 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).

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries 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).

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Nov '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Oct '26
Lower rank Higher rank

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 Process Industries sector page Watch it move against Process Industries in the Observatory

What else looks like this?

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

CompanySectorSimilarityClosest on
FIVE PAISA CAPITAL (5PAISA)Finance58%promoter holding, market cap
SOLARA ACTIVE PHARMA SCIEN (SOLARA)Health Technology58%ROCE, promoter holding
ALLCARGO LOGISTICS (ALLCARGO)Transportation55%ROCE, promoter holding
ADVENT HOTELS INTERNATIONAL LI (ADVENTHTL)Consumer Services52%volatility, ROCE
ONIDA ELECTRONICS (ONIDA)Consumer Durables52%revenue, promoter holding
MEGHMANI ORGANICS (MOL)Process Industries70%operating margin, P/E
BEST AGROLIFE (BESTAGRO)Process Industries57%ROCE, operating margin
SULA VINEYARDS (SULA)Process Industries57%market cap, revenue

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

What happened next to similar setups

+3.4%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 VALIANT ORGANICS 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 −18% to +74% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+4.2%, 80% range −5.3% to +30.1%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
RGL · Feb 2022: −48.4% vs market
KSL · Dec 2024: −37.4% vs market
KOPRAN · Mar 2024: −34.6% vs market
SARLAPOLY · Dec 2021: −33.2% vs market
DMCC · Mar 2025: −31.0% vs market
AGI · Jul 2025: −30.0% vs market
GUJALKALI · May 2022: −26.1% vs market
LIBERTSHOE · Apr 2020: −23.8% vs market
HGS · Dec 2021: −22.3% vs market
SMARTLINK · Mar 2023: −22.3% vs market
JKIL · Jan 2020: −19.0% vs market
SWELECTES · May 2022: −18.6% vs market
PRECAM · May 2023: −17.6% vs market
IFGLEXPOR · Oct 2023: −17.3% vs market
SHK · Mar 2024: −17.1% vs market
SUNFLAG · Mar 2025: −15.1% vs market
PONNIERODE · Apr 2020: −12.0% vs market
THEINVEST · Aug 2024: −11.9% vs market
SANGHIIND · May 2023: −9.6% vs market
KCPSUGIND · May 2020: −8.0% vs market
SPAL · Nov 2021: −4.8% vs market
SHREERAMA · May 2025: −0.9% vs market
CLEDUCATE · Jul 2022: +0.8% vs market
HUHTAMAKI · Jan 2020: +1.1% vs market
JUBLPHARMA · Sep 2024: +1.6% vs market
AVTNPL · Jan 2020: +5.3% vs market
GESHIP · May 2023: +9.2% vs market
GALLANTT · Apr 2021: +9.4% vs market
ORIENTCEM · Jan 2024: +11.5% vs market
PITTIENG · May 2022: +19.4% vs market
KAMDHENU · Mar 2021: +34.6% vs market
FACT · Jan 2020: +45.7% vs market
JINDRILL · Feb 2023: +50.2% vs market
DBCORP · May 2023: +58.5% vs market
SRHHYPOLTD · May 2020: +60.9% vs market
HBLENGINE · Nov 2020: +68.9% vs market
RISHABH · Oct 2025: +69.5% vs market
ICIL · Feb 2020: +75.8% vs market
VASCONEQ · Nov 2022: +78.5% vs market
IGPL · Oct 2020: +79.7% vs market
BBL · Jul 2023: +80.4% vs market
GENUSPOWER · Feb 2023: +88.3% vs market
ARTEMISMED · Jan 2023: +89.3% vs market
KIRLOSBROS · Apr 2023: +109.0% vs market
SARDAEN · Mar 2021: +119.2% vs market
GRPLTD · Aug 2023: +121.4% vs market
SKMEGGPROD · Dec 2022: +128.0% vs market
NEULANDLAB · Feb 2023: +197.3% vs market
JWL · May 2023: +219.5% vs market
APOLLO · Oct 2022: +291.6% vs market
Similar setups +3.4%All companies −0.8%← 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 · 7 beyond the range shown, drawn at the edge

Similar setups' median
+3.4%
All companies' median
−0.8%
Beat the market
56% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JINDRILL
Industrial Services		 Feb 2023 13x7% +52%−14% +50%
BBL
Producer Manufacturing		 Jul 2023 26x9% +117%−1% +80%
HUHTAMAKI
Process Industries		 Jan 2020 22x— +46%−12% +1%
APOLLO
Electronic Technology		 Oct 2022 30x9% +85%−10% +292%
SPAL
Consumer Non-Durables		 Nov 2021 22x10% +163%−11% −5%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
RISHABH
Producer Manufacturing		 Oct 2025 41x5% +16%−14% +70%
VASCONEQ
Industrial Services		 Nov 2022 23x2% +73%−7% +79%
HBLENGINE
Producer Manufacturing		 Nov 2020 24x6% +47%−7% +69%
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: drawdown from 12-month high, P/S and interest cover. 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 VALIANT ORGANICS 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 2026-10-30. 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: 97,430 company-months from 2000 companies; financial: 5,632 company-months from 106 companies. 2240 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.
Monthly history (73 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1021.7x₹766 cr7.1%5.0%0.3x
2026-0923.6x₹766 cr7.2%5.0%0.3x
2026-0824.5x₹738 cr4.5%5.0%0.3x
2026-0722.5x₹738 cr4.5%5.0%0.3x
2026-0623.1x₹738 cr4.5%5.0%0.3x
2026-0538.3x₹724 cr3.0%3.0%0.3x
2026-0435.2x₹724 cr3.0%3.0%0.3x
2026-0326.1x₹724 cr3.0%3.0%0.3x
2026-0227.2x₹752 cr3.2%3.0%0.3x
2026-0128.6x₹752 cr3.2%3.0%0.3x
2025-1232.4x₹752 cr3.2%3.0%0.3x
2025-11141.7x₹755 cr0.7%3.0%0.3x
2025-10168.6x₹755 cr0.7%3.0%0.3x
2025-09183.7x₹755 cr0.7%3.0%0.3x
2025-08—₹719 cr-0.5%3.0%0.3x
2025-07—₹719 cr-0.5%3.0%0.3x
2025-06—₹719 cr-0.5%3.0%0.3x
2025-05—₹692 cr-3.8%1.0%0.4x
2025-04—₹692 cr-3.8%1.0%0.4x
2025-03—₹692 cr-3.8%1.0%0.4x
2025-02—₹646 cr-5.6%1.0%0.4x
2025-01—₹646 cr-5.6%1.0%0.4x
2024-12—₹646 cr-5.6%1.0%0.4x
2024-11—₹689 cr-3.3%1.0%0.4x
2024-10—₹689 cr-3.3%1.0%0.4x
2024-09—₹689 cr-3.3%1.0%0.4x
2024-08—₹723 cr-1.1%1.0%0.4x
2024-07—₹723 cr-1.1%1.0%0.4x
2024-06—₹723 cr-1.1%1.0%0.4x
2024-0512.1x₹1052 cr14.9%14.0%0.4x
2024-0412.9x₹1052 cr14.9%14.0%0.4x
2024-0311.7x₹1052 cr14.9%14.0%0.4x
2024-0213.1x₹1052 cr14.9%14.0%0.4x
2024-0115.0x₹1052 cr14.9%14.0%0.4x
2023-1215.5x₹1052 cr14.9%14.0%0.4x
2023-1114.6x₹1052 cr14.9%14.0%0.4x
2023-1013.6x₹1052 cr14.9%14.0%0.4x
2023-0914.6x₹1052 cr14.9%14.0%0.4x
2023-0815.6x₹1052 cr14.9%14.0%0.4x
2023-0717.0x₹1052 cr14.9%14.0%0.4x
2023-0617.2x₹1052 cr14.9%14.0%0.4x
2023-0514.3x₹1153 cr20.9%21.0%0.6x
2023-0412.1x₹1153 cr20.9%21.0%0.6x
2023-0310.0x₹1153 cr20.9%21.0%0.6x
2023-029.7x₹1153 cr20.9%21.0%0.6x
2023-0111.4x₹1153 cr20.9%21.0%0.6x
2022-1214.3x₹1153 cr20.9%21.0%0.6x
2022-1115.4x₹1153 cr20.9%21.0%0.6x
2022-1016.0x₹1153 cr20.9%21.0%0.6x
2022-0917.7x₹1153 cr20.9%21.0%0.6x
2022-0814.3x₹1153 cr20.9%21.0%0.6x
2022-0716.1x₹1153 cr20.9%21.0%0.6x
2022-0612.8x₹1153 cr20.9%21.0%0.6x
2022-0516.0x₹755 cr26.1%30.0%0.4x
2022-0421.1x₹755 cr26.1%30.0%0.4x
2022-0321.8x₹755 cr26.1%30.0%0.4x
2022-0221.0x₹755 cr26.1%30.0%0.4x
2022-0126.5x₹755 cr26.1%30.0%0.4x
2021-1224.7x₹755 cr26.1%30.0%0.4x
2021-1123.9x₹755 cr26.1%30.0%0.4x
2021-1031.0x₹755 cr26.1%30.0%0.4x
2021-0933.1x₹755 cr26.1%30.0%0.4x
2021-0830.4x₹755 cr26.1%30.0%0.4x
2021-0732.8x₹755 cr26.1%30.0%0.4x
2021-0637.1x₹755 cr26.1%30.0%0.4x
2021-0530.1x₹675 cr32.6%39.0%0.4x
2021-0430.3x₹675 cr32.6%39.0%0.4x
2021-0325.3x₹675 cr32.6%39.0%0.4x
2021-0224.7x₹675 cr32.6%39.0%0.4x
2021-0126.7x₹675 cr32.6%39.0%0.4x
2020-1230.1x₹675 cr32.6%39.0%0.4x
2020-1130.7x₹675 cr32.6%39.0%0.4x
2020-1032.6x₹675 cr32.6%39.0%0.4x

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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