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VEEDOL CORPORATION LIMITED (VEEDOL)

Process Industries · Chemicals: Specialty · 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.84 / 100
Profitability 81Growth 73Balance sheet 100
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.52 / 100
Price 43Earnings 66FII/DII 46

Passes these screensQuality CompounderDebt-light & profitable

Compare withLINDE INDIACOROMANDEL INTERNATIONAL LIMITGUJARAT FLUOROCHEMICALS

Share price

Closing priceAdjusted for splits and bonus issues.

₹1,394.9 latest close · −4.4% over the last 90 sessions

₹1,300₹1,400₹1,500Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹1,300₹1,400₹1,500Jul 3Sep 4Nov 9

₹1,394.9 month-end · −14.7% over 12 months

₹1,400₹1,600Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹1,400₹1,600Nov '25May '26Nov '26

₹1,394.9 month-end · +5.0% over 3 years

₹1,500₹2,000₹2,500Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹1,500₹2,000₹2,500Nov '23May '25Nov '26

₹1,394.9 month-end · +37.2% since Jan '19

₹1,000₹2,000₹3,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹1,000₹2,000₹3,000Jan '19Dec '22Nov '26

52-week range ₹1238.20 to ₹1844.80 · 1-year volatility 23.2%

Was the rally earned?

-15%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 18 points, but investors now pay less per rupee of profit (P/E 15.7x to 11.1x), which took 32 points back.
  • The share count barely moved.
Net profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18 ptsNet profit growthP/E change: −32 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−32 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: −15%−15%Share priceNet profit growth: +18 pts. Points of the price return explained by net profit growing (or shrinking).+18ProfitP/E change: −32 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−32P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −15%−15%Share price
Net profit growth+18 ptsNet profit rose about 21%, which lifts the price.
P/E change-32 ptsThe P/E fell from 15.7x to 11.1x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+5%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (+5%).
  • The share count barely moved.
Net profit growth: +66 pts. Points of the price return explained by net profit growing (or shrinking).+66 ptsNet profit growthP/E change: −62 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−62 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: +5%+5%Share priceNet profit growth: +66 pts. Points of the price return explained by net profit growing (or shrinking).+66ProfitP/E change: −62 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−62P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +5%+5%Share price
Net profit growth+66 ptsNet profit rose about 91%, which lifts the price.
P/E change-62 ptsThe P/E fell from 20.2x to 11.1x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-9%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 43 points, but investors now pay less per rupee of profit (P/E 18.9x to 11.1x), which took 51 points back.
  • The share count barely moved.
Net profit growth: +43 pts. Points of the price return explained by net profit growing (or shrinking).+43 ptsNet profit growthP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51 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: −9%−9%Share priceNet profit growth: +43 pts. Points of the price return explained by net profit growing (or shrinking).+43ProfitP/E change: −51 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−51P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −9%−9%Share price
Net profit growth+43 ptsNet profit rose about 56%, which lifts the price.
P/E change-51 ptsThe P/E fell from 18.9x to 11.1x, which lowers the price.
Share count change0 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 LINDE INDIA

How rough has the ride been?

Maximum drawdown-76.8%not yet recovered
1-year volatility23.2%annualised
Beta vs sector index1.093-year daily, correlation 0.58
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−25%−50%−75%2020202120222023202420252026−76.4% 0%−25%−50%−75%2020202220242026−76.4%
Largest drawdowns

-76.8% (2021-07 peak to 2023-03 low, not yet recovered)

-50.5% (2019-03 peak to 2020-03 low, recovered 2021-05)

Most recent volume spikes

2026-11-02: 5.6x the 50-day median, price +4.3% that day

2026-08-11: 7.4x the 50-day median, price +0.4% that day

2026-08-06: 7.2x the 50-day median, price +3.3% 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?

11.1xP/E todayNear its historic low
Against its own history3rd percentile
CheapestMedian 16.2xDearest

Usual range 12.2x to 24.4x since 2019-01.

Against Process Industries11.1x vs 18.1x
This company
11.1x
Sector median
18.1x

39% below the Process Industries median.

6.8x17.4x27.9x38.5xJan '19Aug '20Mar '22Oct '23May '25Nov '266.8x17.4x27.9x38.5xJan '19Sep '21May '24Nov '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; 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 Process Industries is valued

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).

Where it ranks today

  • ROCE89thflat vs a year ago
  • Op. margin72nd▲ 16 pts vs a year ago
  • Revenue growth63rd▲ 21 pts vs a year ago
  • EPS growth60th▼ 7 pts vs a year ago
  • Debt/equity ↓90thflat vs a year ago
  • Cash cycle ↓59th▲ 10 pts vs a year ago
  • P/E ↓74th▲ 9 pts vs a year ago
  • 12M momentum40th▼ 27 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 Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~9%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 16.4x, a holder earning 12%/yr needs earnings to grow about 8.7%/yr for 10 years, then trade at 15x.

Delivered7.1%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap+1.6 ptsimplied minus delivered
Rank498thmost demanding of 856

Over time

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

-3%10%22% Jan 2019Nov 2026 -3%10%22% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x9.6%10.6%11.6%
15x7.7%8.7%9.7%
20x5.2%6.2%7.1%

Drag a slider to test other assumptions

Implied: 8.7%/yr

Looking back

  • Jan 2020Price implied 8%/yr; EPS has since grown 10%/yr (7.0 yrs)
  • Jan 2021Price implied 7%/yr; EPS has since grown 8%/yr (6.0 yrs)
  • Jan 2022Price implied 12%/yr; EPS has since grown 6%/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

Key figures

Share Priceclose 9 Nov
₹1394.90
P/E
11.1x
ROCE
24.0%
Market Cap
₹2431 cr
Revenue (TTM)
₹2263 cr
P/S
1.1x
P/B
2.3x
ROE
21.2%
Operating Margin
16.0%
Debt / Equity
0.0x
Promoter Holding
64.6%
12M Momentum
-14.7%

52-week range

₹1238.20₹1844.80
26% of the way from its 52-week low to its high

Price risk

1Y volatility
23.2%
Beta vs sector
1-year daily
0.91

Balance sheet & cash

Interest cover
operating profit ÷ interest
100.0x
Cash from profit, 3Y
operating cash flow ÷ net profit
0.75x
Share count, 1Y
unchanged

Are profits backed by cash?

5 of 7checks within range2 near a threshold
Other income reliance17%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 17.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate23%Within range

Median quarterly effective tax rate over about 2.5 years: 22.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.75xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.75x (cash from operations ₹380 cr, net profit ₹504 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+11 daysWithin range

Debtor days are above the median of the previous three fiscal years by 11 days (58 vs 47). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress2% of fixed assetsWithin range

Capital work-in-progress is 2% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+12 days / 2 yrsWithin range

Days payable changed by +12 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, promoters added 2.3 pts.
  • The number of shareholders fell from 68,097 to 54,979 (-19%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters62.3%64.6%+2.3 pts
FIIs1.4%1.0%-0.4 pts
DIIs1.3%1.2%-0.1 pts
Public and others32.6%30.8%-1.8 pts

Number of shareholders

54,979shareholders-19% since Dec '23
55k59k64k68k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 68,097
Mar '24: 65,843
Jun '24: 62,488
Sep '24: 60,070
Dec '24: 59,365
Mar '25: 58,514
Jun '25: 59,920
Sep '25: 56,831
Dec '25: 56,211
Mar '26: 55,526
Jun '26: 54,979
 55k59k64k68k Dec '23Dec '24Dec '25Jun '26
Dec '23: 68,097
Mar '24: 65,843
Jun '24: 62,488
Sep '24: 60,070
Dec '24: 59,365
Mar '25: 58,514
Jun '25: 59,920
Sep '25: 56,831
Dec '25: 56,211
Mar '26: 55,526
Jun '26: 54,979

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+12.9%typical 12-month return vs the marketAbove the base rate
  • We found 50 past situations where a non-financial company looked like VEEDOL CORPORATION 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 −16% to +35% vs the market, against −8% for all non-financial companies in the same months.
  • The analogs' median sat above that base rate (gap +20.7%, 80% range +3.3% to +26.5%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

−50%0%+50%+100%
RADIANTCMS · Feb 2025: −46.3% vs market
DBCORP · Mar 2020: −37.2% vs market
ACC · Aug 2025: −34.2% vs market
EXPLEOSOL · Jan 2025: −29.7% vs market
SKFINDIA · Oct 2025: −29.5% vs market
KSL · Jun 2021: −27.3% vs market
LINCOLN · Oct 2024: −24.0% vs market
KKCL · Jan 2025: −21.7% vs market
MGL · Jun 2025: −21.0% vs market
FDC · Feb 2025: −20.9% vs market
CHAMBLFERT · Sep 2025: −20.3% vs market
HONDAPOWER · Oct 2020: −16.5% vs market
KANSAINER · May 2025: −15.9% vs market
SHRIPISTON · May 2020: −14.9% vs market
TVTODAY · Oct 2021: −14.6% vs market
BALMLAWRIE · Feb 2020: −11.4% vs market
VARDHACRLC · May 2020: −11.0% vs market
GSPL · Nov 2023: −4.7% vs market
SHREDIGCEM · Nov 2024: −2.6% vs market
IGL · Oct 2024: −1.7% vs market
AUTOAXLES · Jun 2025: −1.4% vs market
IMPAL · Sep 2025: +0.4% vs market
SANDESH · May 2020: +1.4% vs market
FINCABLES · Oct 2021: +7.6% vs market
MAYURUNIQ · Apr 2025: +11.8% vs market
BEPL · Oct 2025: +13.9% vs market
SWARAJENG · Dec 2024: +14.8% vs market
GOODYEAR · May 2022: +15.4% vs market
DODLA · May 2023: +17.5% vs market
TCI · Dec 2023: +18.9% vs market
FMGOETZE · Mar 2025: +22.9% vs market
HEROMOTOCO · Apr 2025: +24.9% vs market
KSCL · Jun 2023: +25.1% vs market
ARE&M · Mar 2024: +27.3% vs market
NATIONALUM · Apr 2020: +27.3% vs market
FLAIR · Mar 2025: +29.5% vs market
LGBBROSLTD · Dec 2024: +35.0% vs market
INDNIPPON · Jun 2025: +35.3% vs market
SHARDAMOTR · Jan 2023: +36.5% vs market
ADOR · Jul 2025: +37.2% vs market
AVANTIFEED · Dec 2023: +38.1% vs market
ALBERTDAVD · Mar 2023: +41.5% vs market
DHANUKA · Oct 2023: +41.8% vs market
FIEMIND · Dec 2024: +44.5% vs market
NUCLEUS · Jun 2020: +46.2% vs market
RITES · Jul 2022: +54.0% vs market
ENGINERSIN · May 2022: +63.0% vs market
BAJAJCON · Jan 2025: +69.0% vs market
INDRAMEDCO · Oct 2022: +113.3% vs market
MAZDOCK · Feb 2022: +202.0% vs market
Similar setups +12.9%All companies −7.8%← 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 · 2 beyond the range shown, drawn at the edge

Similar setups' median
+12.9%
All companies' median
−7.8%
Beat the market
58% vs 41%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
DHANUKA
Process Industries		 Oct 2023 16x27% +9%−9% +42%
GOODYEAR
Consumer Durables		 May 2022 16x21% −1%−26% +15%
SKFINDIA
Producer Manufacturing		 Oct 2025 20x29% −12%−13% −30%
LGBBROSLTD
Producer Manufacturing		 Dec 2024 14x23% 0%−16% +35%
TCI
Transportation		 Dec 2023 20x22% +33%−8% +19%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MAYURUNIQ
Process Industries		 Apr 2025 14x19% −13%−31% +12%
EXPLEOSOL
Technology Services		 Jan 2025 15x20% −12%−21% −30%
FMGOETZE
Producer Manufacturing		 Mar 2025 11x17% +1%−32% +23%
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, operating margin and 12-month momentum. 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 VEEDOL CORPORATION 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.

D.B.CORPDBCORP
Consumer Services
65%similar
revenuemarket cap
BALMER LAWRIE & COBALMLAWRIE
Producer Manufacturing
64%similar
revenue growthvolatility
JYOTHY LABSJYOTHYLAB
Consumer Non-Durables
64%similar
ROCEpromoter holding
SHARDA MOTOR INDUSTRIESSHARDAMOTR
Producer Manufacturing
60%similar
promoter holdingdebt/equity
SWARAJ ENGINESSWARAJENG
Producer Manufacturing
60%similar
volatilityrevenue
DHANUKA AGRITECHDHANUKA
Process Industries
72%similar
revenueP/E
BHANSALI ENGINEERING POLYMERSBEPL
Process Industries
64%similar
ROCEmarket cap
INSECTICIDES INDIAINSECTICID
Process Industries
62%similar
revenueEPS growth

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

What changed?

30 events since Aug '22

  1. NovPriceVolume reached 5.6x its 50-day median on 2026-11-02; price +4.3% that day.
  2. SepValuationP/E fell below the 10th percentile of its own history to date (10.9x).
  3. AugPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  4. AugPriceVolume reached 7.4x its 50-day median on 2026-08-11; price +0.4% that day.
  5. JunPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  6. MarValuationP/E fell below the 10th percentile of its own history to date (11.2x).
  7. DecPromoterPromoter holding rose 2.2 pts to 64.6%.
  8. SepPriceVolume reached 75.1x its 50-day median on 2025-09-15; price +9.7% that day.
Show 22 earlier events
  1. JunResultsRevenue (TTM) reached a new high of ₹1,969 cr.
  2. JunPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  3. JunPriceVolume reached 20.5x its 50-day median on 2025-06-11; price -1.2% that day.
  4. MarPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  5. JanPriceVolume reached 8.5x its 50-day median on 2025-01-13; price -6.0% that day.
  6. DecPeer rankMoved into the 2nd quartile of Process Industries on operating margin (from the 3rd quartile).
  7. SepPeer rankSlipped to the 3rd quartile of Process Industries on operating margin (from the 2nd quartile).
  8. JunResultsYear-on-year EPS growth turned positive.
  9. JunPeer rankMoved into the top quartile of Process Industries on ROCE (from the 2nd quartile).
  10. JunPriceVolume reached 15.6x its 50-day median on 2024-06-24; price +5.9% that day.
  11. AprValuationP/E crossed above the 90th percentile of its own history to date (27.2x).
  12. JanPriceVolume reached 20.5x its 50-day median on 2024-01-30; price +9.6% that day.
  13. DecPriceVolume reached 28.3x its 50-day median on 2023-12-04; price -0.5% that day.
  14. NovValuationP/E crossed above the 90th percentile of its own history to date (20.2x).
  15. AugPriceVolume reached 5.5x its 50-day median on 2023-08-22; price +3.7% that day.
  16. JunResultsRevenue (TTM) reached a new high of ₹1,854 cr.
  17. JunPeer rankMoved into the 3rd quartile of Process Industries on EPS growth (from the bottom quartile).
  18. JunPriceVolume reached 18.9x its 50-day median on 2023-06-16; price +2.8% that day.
  19. MarPriceFell 77% from the Jul 2021 peak to the Mar 2023 low.
  20. MarValuationP/E fell below the 10th percentile of its own history to date (11.8x).
  21. NovPriceVolume reached 52.6x its 50-day median on 2022-11-29; price +11.0% that day.
  22. AugPriceVolume reached 41.9x its 50-day median on 2022-08-02; price +10.4% 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
2026-1111.1x₹2263 cr21.2%24.0%0.0x
2026-1010.6x₹2263 cr21.3%24.0%0.0x
2026-0910.9x₹2263 cr21.3%24.0%0.0x
2026-0813.4x₹2168 cr18.6%24.0%0.0x
2026-0712.7x₹2168 cr18.6%24.0%0.0x
2026-0613.1x₹2168 cr18.6%24.0%0.0x
2026-0512.9x₹2093 cr21.3%24.0%0.0x
2026-0412.8x₹2093 cr21.3%24.0%0.0x
2026-0311.2x₹2093 cr21.3%24.0%0.0x
2026-0212.9x₹2037 cr20.6%24.0%0.0x
2026-0113.3x₹2037 cr20.6%24.0%0.0x
2025-1215.2x₹2037 cr20.6%24.0%0.0x
2025-1115.7x₹2004 cr19.9%24.0%0.0x
2025-1016.9x₹2004 cr19.9%24.0%0.0x
2025-0917.0x₹2004 cr19.9%24.0%0.0x
2025-0817.1x₹1969 cr18.5%24.0%0.0x
2025-0717.2x₹1969 cr18.5%24.0%0.0x
2025-0617.4x₹1969 cr18.5%24.0%0.0x
2025-0519.5x₹1924 cr18.4%24.0%0.0x
2025-0416.8x₹1924 cr18.4%24.0%0.0x
2025-0315.7x₹1924 cr18.4%24.0%0.0x
2025-0216.9x₹1938 cr18.0%24.0%0.0x
2025-0117.9x₹1938 cr18.0%24.0%0.0x
2024-1219.4x₹1938 cr18.0%24.0%0.0x
2024-1121.8x₹1936 cr18.0%24.0%0.0x
2024-1022.7x₹1936 cr18.0%24.0%0.0x
2024-0926.6x₹1936 cr18.0%24.0%0.0x
2024-0831.8x₹1931 cr17.3%24.0%0.0x
2024-0733.0x₹1931 cr17.3%24.0%0.0x
2024-0627.9x₹1931 cr17.3%24.0%0.0x
2024-0527.2x₹1854 cr15.1%20.0%0.0x
2024-0427.2x₹1854 cr15.1%20.0%0.0x
2024-0321.3x₹1854 cr15.1%20.0%0.0x
2024-0224.3x₹1854 cr15.1%20.0%0.0x
2024-0124.5x₹1854 cr15.1%20.0%0.0x
2023-1221.5x₹1854 cr15.1%20.0%0.0x
2023-1120.2x₹1854 cr15.1%20.0%0.0x
2023-1017.7x₹1854 cr15.1%20.0%0.0x
2023-0918.5x₹1854 cr15.1%20.0%0.0x
2023-0817.7x₹1854 cr15.1%20.0%0.0x
2023-0717.0x₹1854 cr15.1%20.0%0.0x
2023-0615.4x₹1854 cr15.1%20.0%0.0x
2023-0512.3x₹1536 cr17.1%22.0%0.0x
2023-0412.2x₹1536 cr17.1%22.0%0.0x
2023-0311.8x₹1536 cr17.1%22.0%0.0x
2023-0213.0x₹1536 cr17.1%22.0%0.0x
2023-0113.9x₹1536 cr17.1%22.0%0.0x
2022-1214.2x₹1536 cr17.1%22.0%0.0x
2022-1115.3x₹1536 cr17.1%22.0%0.0x
2022-1014.4x₹1536 cr17.1%22.0%0.0x
2022-0914.5x₹1536 cr17.1%22.0%0.0x
2022-0816.2x₹1536 cr17.1%22.0%0.0x
2022-0714.4x₹1536 cr17.1%22.0%0.0x
2022-0614.6x₹1536 cr17.1%22.0%0.0x
2022-0513.4x₹1258 cr19.1%26.0%0.0x
2022-0414.2x₹1258 cr19.1%26.0%0.0x
2022-0313.8x₹1258 cr19.1%26.0%0.0x
2022-0215.7x₹1258 cr19.1%26.0%0.0x
2022-0117.5x₹1258 cr19.1%26.0%0.0x
2021-1218.3x₹1258 cr19.1%26.0%0.0x

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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