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VESUVIUS INDIA LTD (VESUVIUS)

Non-Energy Minerals · Construction Materials · 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 74Growth 79Balance 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.44 / 100
Price 12Earnings 35FII/DII 85
Compare withULTRATECH CEMENTGRASIM INDUSTRIESAMBUJA CEMENTS

Share price

Closing priceAdjusted for splits and bonus issues.

₹364.8 latest close · −22.4% over the last 90 sessions

₹350₹400₹450Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹350₹400₹450Jul 3Sep 4Nov 9

₹364.8 month-end · −23.6% over 12 months

₹350₹400₹450₹500Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹350₹400₹450₹500Nov '25May '26Nov '26

₹364.8 month-end · −3.4% over 3 years

₹300₹400₹500₹600Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹300₹400₹500₹600Nov '23May '25Nov '26

₹364.8 month-end · +217.2% since Jan '19

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

52-week range ₹354.05 to ₹607.90 · 1-year volatility 33.3%

Was the rally earned?

-24%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 2 points, but investors now pay less per rupee of profit (P/E 38.7x to 28.9x), which took 25 points back.
  • The share count barely moved.
Net profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2 ptsNet profit growthP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25 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: −24%−24%Share priceNet profit growth: +2 pts. Points of the price return explained by net profit growing (or shrinking).+2ProfitP/E change: −25 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−25P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −24%−24%Share price
Net profit growth+2 ptsNet profit rose about 2%, which lifts the price.
P/E change-25 ptsThe P/E fell from 38.7x to 28.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
-3%share price, 3 yearsRoughly flat
  • The share price was roughly flat over 3 years (-3%).
  • The share count barely moved.
Net profit growth: +77 pts. Points of the price return explained by net profit growing (or shrinking).+77 ptsNet profit growthP/E change: −81 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−81 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: −3%−3%Share priceNet profit growth: +77 pts. Points of the price return explained by net profit growing (or shrinking).+77ProfitP/E change: −81 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−81P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: −3%−3%Share price
Net profit growth+77 ptsNet profit rose about 119%, which lifts the price.
P/E change-81 ptsThe P/E fell from 65.7x to 28.9x, which lowers the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+211%share price, 5 yearsLower P/E held it back

Mostly yes, with a catch.

  • Per-share earnings added 293 points, but investors now pay less per rupee of profit (P/E 45.0x to 28.9x), which took 82 points back.
  • The share count barely moved.
Net profit growth: +293 pts. Points of the price return explained by net profit growing (or shrinking).+293 ptsNet profit growthP/E change: −82 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−82 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: +211%+211%Share priceNet profit growth: +293 pts. Points of the price return explained by net profit growing (or shrinking).+293ProfitP/E change: −82 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.−82P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +211%+211%Share price
Net profit growth+293 ptsNet profit rose about 383%, which lifts the price.
P/E change-82 ptsThe P/E fell from 45.0x to 28.9x, 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 ULTRATECH CEMENT

How rough has the ride been?

Maximum drawdown-41.8%not yet recovered
1-year volatility33.3%annualised
Beta vs sector index0.633-year daily, correlation 0.36
Volume spikes3last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%2020202120222023202420252026−41.8% 0%−20%−40%2020202220242026−41.8%
Largest drawdowns

-41.8% (2025-06 peak to 2026-10 low, not yet recovered)

-39.0% (2019-01 peak to 2020-04 low, recovered 2021-07)

-39.0% (2024-09 peak to 2025-02 low, recovered 2025-05)

Most recent volume spikes

2026-10-06: 5.8x the 50-day median, price +3.9% that day

2026-09-30: 134.1x the 50-day median, price +6.0% that day

2026-09-29: 45.1x the 50-day median, price +3.8% 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).

Is it expensive against its own past and its peers?

28.9xP/E todayWithin its usual range
Against its own history31st percentile
CheapestMedian 36.6xDearest

Usual range 22.2x to 51.4x since 2019-01.

Against Non-Energy Minerals28.9x vs 21.8x
This company
28.9x
Sector median
21.8x

33% above the Non-Energy Minerals median.

8.6x27.6x46.6x65.7xJan '19Aug '20Mar '22Oct '23May '25Nov '268.6x27.6x46.6x65.7xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianNon-Energy Minerals 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 Non-Energy Minerals is valued

Where does it rank among Non-Energy Minerals peers?

Each cell is the company's percentile rank among its Non-Energy Minerals 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

  • ROCE87thflat vs a year ago
  • Op. margin74th▲ 4 pts vs a year ago
  • Revenue growth50th▼ 22 pts vs a year ago
  • EPS growth48thflat vs a year ago
  • Debt/equity ↓96thflat vs a year ago
  • Cash cycle ↓64thflat vs a year ago
  • P/E ↓39th▲ 10 pts vs a year ago
  • 12M momentum31st▼ 17 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 Non-Energy Minerals sector page Watch it move against Non-Energy Minerals in the Observatory

What is the price implying?

~21%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 34.6x, a holder earning 12%/yr needs earnings to grow about 21.1%/yr for 10 years, then trade at 15x.

Delivered18.1%/yrEPS, last 9 fiscal years · 3-yr avg to 3-yr avg
Gap+3.0 ptsimplied minus delivered
Rank476thmost demanding of 856

Over time

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

-1%17%35% Jan 2019Nov 2026 -1%17%35% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x22.6%23.7%24.8%
15x20.0%21.1%22.2%
20x16.7%17.8%18.8%

Drag a slider to test other assumptions

Implied: 21.1%/yr

“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 Non-Energy Minerals The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹364.80
P/E
28.9x
Market Cap
₹7412 cr
Revenue (TTM)
₹2134 cr
P/S
3.5x
P/B
4.2x
ROE
14.7%
Operating Margin
16.0%
Debt / Equity
0.0x
Promoter Holding
55.6%
12M Momentum
-23.6%

52-week range

₹354.05₹607.90
4% of the way from its 52-week low to its high

Price risk

1Y volatility
33.3%
Beta vs sector
1-year daily
0.59

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.70x
Share count, 1Y
unchanged

Are profits backed by cash?

2 of 5checks within range3 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 rate26%Within range

Median quarterly effective tax rate over about 2.5 years: 26.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.70xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.70x (cash from operations ₹517 cr, net profit ₹742 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow3 of 5 yrsNear threshold

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

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress7% of fixed assetsWithin range

Capital work-in-progress is 7% 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 2 years, FIIs added 2.8 pts; DIIs trimmed 1.2 pts.
  • The number of shareholders rose from 21,474 to 33,741 (+57%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters55.6%55.6%0.0 pts
FIIs1.7%4.6%+2.8 pts
DIIs23.3%22.0%-1.2 pts
Public and others19.4%17.8%-1.6 pts

Number of shareholders

33,741shareholders+57% since Dec '23
21k26k31k36k Dec '23Jun '24Mar '25Sep '25Mar '26Jun '26
Dec '23: 21,474
Mar '24: 22,517
Jun '24: 25,289
Dec '24: 28,956
Mar '25: 28,701
Jun '25: 34,163
Sep '25: 36,281
Dec '25: 34,319
Mar '26: 33,525
Jun '26: 33,741
 21k26k31k36k Dec '23Dec '24Sep '25Jun '26
Dec '23: 21,474
Mar '24: 22,517
Jun '24: 25,289
Dec '24: 28,956
Mar '25: 28,701
Jun '25: 34,163
Sep '25: 36,281
Dec '25: 34,319
Mar '26: 33,525
Jun '26: 33,741

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

+5.2%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 VESUVIUS INDIA LTD today on valuation, margins, debt, growth, price momentum, size and volatility.
  • Over the following 12 months the middle half of them returned −17% to +22% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (+6.2%, 80% range −5.4% to +9.3%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
ARE&M · Mar 2021: −49.1% vs market
TCIEXP · Jun 2023: −47.0% vs market
CELLO · Sep 2025: −43.8% vs market
JYOTHYLAB · May 2025: −42.0% vs market
TTKPRESTIG · Apr 2023: −35.0% vs market
ROSSARI · Jul 2023: −32.8% vs market
RALLIS · Mar 2021: −23.8% vs market
WONDERLA · Mar 2020: −23.4% vs market
STARCEMENT · Jun 2020: −21.9% vs market
CASTROLIND · Sep 2020: −21.7% vs market
SWARAJENG · Jan 2021: −20.2% vs market
ROLEXRINGS · Feb 2025: −19.5% vs market
CERA · Mar 2025: −16.8% vs market
BSOFT · Jun 2022: −15.4% vs market
SUMICHEM · Jul 2023: −14.8% vs market
PGHL · Dec 2023: −10.0% vs market
TVTODAY · Feb 2020: −9.0% vs market
ADVENZYMES · Jun 2023: −6.7% vs market
BHARATRAS · Sep 2021: −6.3% vs market
NOCIL · Apr 2022: −4.9% vs market
ACE · Oct 2025: −4.5% vs market
3MINDIA · Apr 2024: −2.8% vs market
CRISIL · Apr 2024: +0.6% vs market
INDIGOPNTS · Sep 2025: +3.1% vs market
DEEPAKNTR · Jul 2023: +4.3% vs market
TECHNOE · Jun 2020: +6.1% vs market
RHIM · Mar 2020: +7.1% vs market
SCHAEFFLER · Dec 2024: +7.9% vs market
FDC · Oct 2023: +8.3% vs market
BAJAJCON · Mar 2020: +9.1% vs market
INTELLECT · Sep 2024: +9.8% vs market
EMAMILTD · Jun 2023: +10.8% vs market
FINCABLES · Jun 2020: +11.4% vs market
RATNAMANI · Sep 2025: +12.4% vs market
JUSTDIAL · Apr 2023: +15.6% vs market
KENNAMET · Aug 2020: +17.0% vs market
ESCORTS · Apr 2021: +18.1% vs market
VSTTILLERS · Jun 2025: +22.8% vs market
ZYDUSWELL · Sep 2024: +23.2% vs market
GRINDWELL · Sep 2025: +24.9% vs market
CUMMINSIND · Apr 2020: +38.9% vs market
LMW · May 2020: +49.3% vs market
TRITURBINE · May 2021: +55.5% vs market
KAJARIACER · Aug 2020: +69.2% vs market
RATEGAIN · Aug 2025: +70.1% vs market
CARBORUNIV · Aug 2020: +93.4% vs market
ACUTAAS · Feb 2024: +102.8% vs market
SUPREMEIND · Aug 2022: +107.2% vs market
BSE · Feb 2021: +181.6% vs market
NEWGEN · Jan 2023: +186.1% vs market
Similar setups +5.2%All companies −1.0%← worse than the marketbetter than the market →

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 4 beyond the range shown, drawn at the edge

Similar setups' median
+5.2%
All companies' median
−1.0%
Beat the market
56% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JYOTHYLAB
Consumer Non-Durables		 May 2025 34x27% −14%−40% −42%
CERA
Consumer Durables		 Mar 2025 31x25% −17%−46% −17%
LMW
Producer Manufacturing		 May 2020 15x18% −54%−56% +49%
INDIGOPNTS
Process Industries		 Sep 2025 35x19% −28%−38% +3%
ESCORTS
Producer Manufacturing		 Apr 2021 29x21% +57%−22% +18%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
FINCABLES
Producer Manufacturing		 Jun 2020 11x18% −35%−37% +11%
KENNAMET
Producer Manufacturing		 Aug 2020 19x— −20%−35% +17%
TCIEXP
Transportation		 Jun 2023 43x— −1%−20% −47%
How reliable is this?

Matched on P/E, P/S, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, P/S and P/E. Not used (unavailable for this company): ROCE 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 VESUVIUS INDIA LTD. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

FeatureWeightNon-financialFinancial
P/E1yesyes
P/S1yes—
P/B1—yes
ROCE1yes—
operating margin1yes—
ROE1—yes
debt/equity0.75yes—
interest cover0.5yes—
revenue growth0.75yesyes
12-month momentum1yesyes
drawdown from 12-month high0.75yesyes
size0.75yesyes
volatility0.5yesyes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

  • One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
  • Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
  • Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
  • Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
  • Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

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

ACTION CONSTRUCTION EQUIPMENTSACE
Producer Manufacturing
73%similar
revenue growthdebt/equity
FIEM INDUSTRIESFIEMIND
Producer Manufacturing
70%similar
revenue growthpromoter holding
KINGFA SCIENCE & TECH (I)KINGFA
Process Industries
70%similar
operating marginrevenue growth
SWARAJ ENGINESSWARAJENG
Producer Manufacturing
66%similar
revenuedebt/equity
ADOR WELDINGADOR
Producer Manufacturing
64%similar
debt/equitypromoter holding
STYLAM INDUSTRIESSTYLAMIND
Non-Energy Minerals
65%similar
promoter holdingvolatility
RAMCO INDUSTRIESRAMCOIND
Non-Energy Minerals
46%similar
promoter holdingoperating margin
GRAVITA INDIAGRAVITA
Non-Energy Minerals
43%similar
promoter holdingP/E

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. OctPriceFell 42% from the Jun 2025 peak to the Oct 2026 low.
  2. OctPriceVolume reached 5.8x its 50-day median on 2026-10-06; price +3.9% that day.
  3. SepPriceVolume reached 134.1x its 50-day median on 2026-09-30; price +6.0% that day.
  4. JunResultsYear-on-year EPS growth turned positive.
  5. JunPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
  6. AprPriceVolume reached 6.7x its 50-day median on 2026-04-16; price +2.4% that day.
  7. FebPriceVolume reached 242.0x its 50-day median on 2026-02-20; price +7.6% that day.
  8. DecPeer rankMoved into the top quartile of Non-Energy Minerals on operating margin (from the 2nd quartile).
Show 22 earlier events
  1. SepResultsYear-on-year EPS growth turned negative.
  2. SepPriceVolume reached 7.0x its 50-day median on 2025-09-09; price -0.3% that day.
  3. MayPriceRegained the 2024-09 peak, 3 months after the low.
  4. MayPriceVolume reached 8.0x its 50-day median on 2025-05-30; price +5.7% that day.
  5. MarPeer rankSlipped to the 2nd quartile of Non-Energy Minerals on operating margin (from the top quartile).
  6. FebPriceFell 39% from the Sep 2024 peak to the Feb 2025 low.
  7. FebPriceVolume reached 10.2x its 50-day median on 2025-02-24; price +5.4% that day.
  8. SepPriceVolume reached 11.2x its 50-day median on 2024-09-20; price +3.9% that day.
  9. AprPriceVolume reached 10.5x its 50-day median on 2024-04-25; price +9.8% that day.
  10. MarResultsRevenue (TTM) reached a new high of ₹1,603 cr.
  11. MarPeer rankMoved into the top quartile of Non-Energy Minerals on ROCE (from the 2nd quartile).
  12. FebPriceVolume reached 5.1x its 50-day median on 2024-02-12; price -2.4% that day.
  13. OctPriceVolume reached 5.2x its 50-day median on 2023-10-31; price +5.2% that day.
  14. JulValuationP/E crossed above the 90th percentile of its own history to date (63.7x).
  15. JulPriceVolume reached 21.7x its 50-day median on 2023-07-28; price +5.4% that day.
  16. JunPeer rankMoved into the top quartile of Non-Energy Minerals on EPS growth (from the 2nd quartile).
  17. MayPriceVolume reached 34.8x its 50-day median on 2023-05-16; price +20.1% that day.
  18. MarResultsRevenue (TTM) reached a new high of ₹1,343 cr.
  19. MarPeer rankMoved into the 2nd quartile of Non-Energy Minerals on ROCE (from the 3rd quartile).
  20. FebPriceVolume reached 24.5x its 50-day median on 2023-02-16; price +10.4% that day.
  21. NovPriceVolume reached 14.6x its 50-day median on 2022-11-15; price +11.8% that day.
  22. AugPriceRegained the 2021-07 peak, 5 months after the low.

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 history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1128.9x₹2134 cr14.7%—0.0x
2026-1028.6x₹2134 cr14.7%—0.0x
2026-0933.6x₹2134 cr14.7%—0.0x
2026-0831.8x₹2122 cr15.7%21.0%0.0x
2026-0734.6x₹2122 cr15.7%21.0%0.0x
2026-0635.7x₹2122 cr15.7%21.0%0.0x
2026-0536.0x₹2104 cr15.9%21.0%0.0x
2026-0439.9x₹2104 cr15.9%21.0%0.0x
2026-0333.5x₹2104 cr15.9%21.0%0.0x
2026-0241.7x₹2062 cr17.1%25.0%0.0x
2026-0141.3x₹2062 cr17.1%25.0%0.0x
2025-1240.0x₹2062 cr17.1%25.0%0.0x
2025-1138.7x₹1959 cr17.5%25.0%0.0x
2025-1040.0x₹1959 cr17.5%25.0%0.0x
2025-0941.5x₹1959 cr17.5%25.0%0.0x
2025-0840.0x₹1897 cr17.7%25.0%0.0x
2025-0741.1x₹1897 cr17.7%25.0%0.0x
2025-0644.0x₹1897 cr17.7%25.0%0.0x
2025-0545.5x₹1868 cr18.4%25.0%0.0x
2025-0435.6x₹1868 cr18.4%25.0%0.0x
2025-0335.0x₹1868 cr18.4%25.0%0.0x
2025-0231.0x₹1776 cr21.9%26.0%0.0x
2025-0133.2x₹1776 cr21.9%26.0%0.0x
2024-1235.3x₹1776 cr21.9%26.0%0.0x
2024-1143.0x₹1745 cr21.2%26.0%0.0x
2024-1042.2x₹1745 cr21.2%26.0%0.0x
2024-0944.2x₹1745 cr21.2%26.0%0.0x
2024-0846.1x₹1688 cr19.9%26.0%0.0x
2024-0744.0x₹1688 cr19.9%26.0%0.0x
2024-0642.9x₹1688 cr19.9%26.0%0.0x
2024-0552.3x₹1603 cr17.9%26.0%0.0x
2024-0443.3x₹1603 cr17.9%26.0%0.0x
2024-0331.6x₹1603 cr17.9%26.0%0.0x
2024-0256.4x₹1343 cr11.7%17.0%0.0x
2024-0161.7x₹1343 cr11.7%17.0%0.0x
2023-1262.4x₹1343 cr11.7%17.0%0.0x
2023-1165.7x₹1343 cr11.7%17.0%0.0x
2023-1062.0x₹1343 cr11.7%17.0%0.0x
2023-0954.2x₹1343 cr11.7%17.0%0.0x
2023-0859.7x₹1343 cr11.7%17.0%0.0x
2023-0763.7x₹1343 cr11.7%17.0%0.0x
2023-0641.7x₹1343 cr11.7%17.0%0.0x
2023-0540.8x₹1343 cr11.7%17.0%0.0x
2023-0429.4x₹1343 cr11.7%17.0%0.0x
2023-0328.5x₹1343 cr11.7%17.0%0.0x
2023-0248.4x₹1047 cr7.6%11.0%0.0x
2023-0148.7x₹1047 cr7.6%11.0%0.0x
2022-1248.2x₹1047 cr7.6%11.0%0.0x
2022-1151.9x₹1047 cr7.6%11.0%0.0x
2022-1044.8x₹1047 cr7.6%11.0%0.0x
2022-0946.7x₹1047 cr7.6%11.0%0.0x
2022-0843.0x₹1047 cr7.6%11.0%0.0x
2022-0734.5x₹1047 cr7.6%11.0%0.0x
2022-0630.7x₹1047 cr7.6%11.0%0.0x
2022-0530.6x₹1047 cr7.6%11.0%0.0x
2022-0430.3x₹1047 cr7.6%11.0%0.0x
2022-0330.4x₹1047 cr7.6%11.0%0.0x
2022-0236.6x₹792 cr6.3%9.0%0.0x
2022-0141.6x₹792 cr6.3%9.0%0.0x
2021-1241.6x₹792 cr6.3%9.0%0.0x
2021-1145.0x₹792 cr6.3%9.0%0.0x
2021-1041.2x₹792 cr6.3%9.0%0.0x
2021-0946.9x₹792 cr6.3%9.0%0.0x
2021-0845.4x₹792 cr6.3%9.0%0.0x
2021-0750.6x₹792 cr6.3%9.0%0.0x
2021-0642.3x₹792 cr6.3%9.0%0.0x
2021-0538.9x₹792 cr6.3%9.0%0.0x
2021-0440.6x₹792 cr6.3%9.0%0.0x
2021-0337.0x₹792 cr6.3%9.0%0.0x
2021-0224.9x₹887 cr10.7%16.0%0.0x
2021-0124.7x₹887 cr10.7%16.0%0.0x
2020-1225.9x₹887 cr10.7%16.0%0.0x
2020-1123.0x₹887 cr10.7%16.0%0.0x
2020-1021.1x₹887 cr10.7%16.0%0.0x
2020-0920.8x₹887 cr10.7%16.0%0.0x
2020-0822.6x₹887 cr10.7%16.0%0.0x
2020-0720.5x₹887 cr10.7%16.0%0.0x
2020-0621.9x₹887 cr10.7%16.0%0.0x
2020-0520.8x₹887 cr10.7%16.0%0.0x
2020-0422.0x₹887 cr10.7%16.0%0.0x
2020-0319.4x₹887 cr10.7%16.0%0.0x
2020-0225.2x₹925 cr12.6%20.0%0.0x
2020-0123.9x₹925 cr12.6%20.0%0.0x
2019-1224.1x₹925 cr12.6%20.0%0.0x
2019-1124.1x₹925 cr12.6%20.0%0.0x
2019-1021.9x₹925 cr12.6%20.0%0.0x
2019-0922.5x₹925 cr12.6%20.0%0.0x
2019-0821.3x₹925 cr12.6%20.0%0.0x
2019-0721.9x₹925 cr12.6%20.0%0.0x
2019-0624.5x₹925 cr12.6%20.0%0.0x
2019-0525.5x₹925 cr12.6%20.0%0.0x
2019-0424.7x₹925 cr12.6%20.0%0.0x
2019-0325.4x₹925 cr12.6%20.0%0.0x
2019-0225.1x₹911 cr14.2%24.0%0.0x
2019-0124.7x₹911 cr14.2%24.0%0.0x

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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