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VINYL CHEMICALS (INDIA) LTD (VINYLINDIA)

Distribution Services

Quality scoreHow the business itself ranks against its sector peers on profitability, 3-year growth and leverage. 50 is the middle of the sector.56 / 100
Profitability 50Growth 18Balance sheet 100
Compare withADANI ENTERPRISES LIMITEDAEGIS LOGISTICS LTDSCHNEIDER ELECTRIC INFRA LTD
Share Price
₹235.44
P/E
23.1x
ROCE
15.0%
Market Cap
₹433 cr
Revenue (TTM)
₹601 cr
P/S
0.7x
P/B
3.3x
ROE
14.4%
Operating Margin
2.7%
Debt / Equity
0.0x
Promoter Holding
50.4%
12M Momentum
-12.8%
P/E vs its own history50th percentilesince Jan '19
P/E vs Distribution Services1.4xthe sector median

52-week range

₹157.10₹286.60
60% of the way from its 52-week low to its high

Price risk

1Y volatility
44.4%
Beta vs sector
1-year daily
0.49

Balance sheet & cash

Debt service
no meaningful debt
Cash from profit, 3Y
operating cash flow ÷ net profit
0.73x
Share count, 1Y
unchanged

Was the rally earned?

-13%share price, 1 yearEarnings-driven

Mostly earnings.

  • Per-share earnings took off 15 points, while the multiple moved less (P/E 22.7x to 23.1x).
  • The share count rose 4%.
1 year Net profit growth: -11 pts. Points of the price return explained by net profit growing (or shrinking).-11 ptsP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+2 ptsShare count change: -4 pts. Points of the price return explained by the share count changing. More shares count against the price.-4 pts -13% 1 year Net profit growth: -11 pts. Points of the price return explained by net profit growing (or shrinking).-11 ptsP/E change: +2 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: -4 pts. Points of the price return explained by the share count changing. More shares count against the price.-4 pts -13%
Net profit growth-11 ptsNet profit fell about 11%, which lowers the price.
P/E change+2 ptsThe P/E rose from 22.7x to 23.1x, which lifts the price.
Share count change-4 ptsShare count rose 4%, which lowers the price.
-43%share price, 3 yearsEarnings-driven

Mostly earnings.

  • Per-share earnings took off 50 points, while the multiple moved less (P/E 21.1x to 23.1x).
  • The share count barely moved.
3 years Net profit growth: -50 pts. Points of the price return explained by net profit growing (or shrinking).-50 ptsP/E change: +7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+7 ptsShare count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -43% 3 years Net profit growth: -50 pts. Points of the price return explained by net profit growing (or shrinking).-50 ptsP/E change: +7 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.Share count change: +1 pts. Points of the price return explained by the share count changing. More shares count against the price. -43%
Net profit growth-50 ptsNet profit fell about 48%, which lowers the price.
P/E change+7 ptsThe P/E rose from 21.1x to 23.1x, which lifts the price.
Share count change+1 ptsShare count was little changed. More shares would count against the price.
-10%share price, 5 yearsLower P/E held it back

Earnings helped, the multiple did not.

  • Per-share earnings added 47 points, but investors now pay less per rupee of profit (P/E 42.1x to 23.1x), which took 57 points back.
  • The share count rose 3%.
5 years Net profit growth: +51 pts. Points of the price return explained by net profit growing (or shrinking).+51 ptsP/E change: -57 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-57 ptsShare count change: -3 pts. Points of the price return explained by the share count changing. More shares count against the price. -10% 5 years Net profit growth: +51 pts. Points of the price return explained by net profit growing (or shrinking).+51 ptsP/E change: -57 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.-57 ptsShare count change: -3 pts. Points of the price return explained by the share count changing. More shares count against the price. -10%
Net profit growth+51 ptsNet profit rose about 70%, which lifts the price.
P/E change-57 ptsThe P/E fell from 42.1x to 23.1x, which lowers the price.
Share count change-3 ptsShare count rose 3%, which lowers 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 ADANI ENTERPRISES

Is it expensive against its own past and its peers?

23.1xP/E todayWithin its usual range
Against its own history50th percentileMedian 23.2x; usual range 12.7x to 35.4x since 2019-01.
Against Distribution Services23.1x vs 17.1xAbove the Distribution Services median.
7.1x20.3x33.5x46.7xJan '19Aug '20Mar '22Oct '23May '25Oct '267.1x20.3x33.5x46.7xJan '19Aug '21Mar '24Oct '26
P/E (this company)10th to 90th percentile of its own historyIts medianDistribution Services median

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

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P/S (this company)10th to 90th percentile of its own historyIts medianDistribution Services 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 Distribution Services is valued

What is the price implying?

~10%annual earnings growth implied by the price

At a P/E of 17.7x, the price would imply about 10.0%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Below the ₹1,000 cr market-cap floor used for the lists.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Distribution Services The market-wide Expectations lists

What changed?

  1. Jun '26Slipped to the 2nd quartile of Distribution Services on ROCE (from the top quartile).
  2. Mar '26Fell 82% from the Sep 2022 peak to the Mar 2026 low.
  3. Dec '25Slipped to the bottom quartile of Distribution Services on EPS growth (from the 3rd quartile).
  4. Sep '25Year-on-year EPS growth turned negative.
  5. Sep '25Slipped to the 3rd quartile of Distribution Services on operating margin (from the 2nd quartile).
  6. Jun '25Year-on-year EPS growth turned positive.
  7. Jun '25Moved into the 2nd quartile of Distribution Services on operating margin (from the 3rd quartile).
  8. Mar '25Slipped to the 3rd quartile of Distribution Services on operating margin (from the 2nd quartile).
Show 15 earlier events
  1. Jun '24Year-on-year EPS growth turned negative.
  2. Jun '24Slipped to the 3rd quartile of Distribution Services on EPS growth (from the 2nd quartile).
  3. Jun '23Revenue (TTM) reached a new high of ₹1,013 cr.
  4. Jun '23Slipped to the 2nd quartile of Distribution Services on EPS growth (from the top quartile).
  5. Jul '22Regained the 2021-10 peak, 7 months after the low.
  6. Jun '22Revenue (TTM) reached a new high of ₹865 cr.
  7. Dec '21Fell 33% from the Oct 2021 peak to the Dec 2021 low.
  8. Aug '21P/E crossed above the 90th percentile of its own history to date (37.3x).
  9. Jun '21Year-on-year EPS growth turned positive.
  10. Jun '21Moved into the top quartile of Distribution Services on EPS growth (from the 3rd quartile).
  11. Jan '21P/E crossed above the 90th percentile of its own history to date (28.6x).
  12. Dec '20Regained the 2020-05 peak, 5 months after the low.
  13. Jul '20Fell 32% from the May 2020 peak to the Jul 2020 low.
  14. May '20Regained the 2019-03 peak, 2 months after the low.
  15. Mar '20Fell 54% from the Mar 2019 peak to the Mar 2020 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

Are profits backed by cash?

4 of 7 checks are within range, 2 near a threshold, 1 beyond a threshold.
Tap a check to see how it is measured.

Other income reliance48%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 48.0%. 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 conversion0.73xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.73x (cash from operations ₹44 cr, net profit ₹60 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+8 daysWithin range

Debtor days are above the median of the previous three fiscal years by 8 days (69 vs 61). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress0% of fixed assetsWithin range

Capital work-in-progress is 0% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-62 days / 2 yrsWithin range

Days payable changed by -62 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, institutional and promoter holdings were broadly unchanged.
  • The number of shareholders fell from 45,819 to 38,667 (-16%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters50.4%50.4%0.0 pts
FIIs0.0%0.0%0.0 pts
DIIs0.0%0.1%+0.1 pts
Public and others49.6%49.5%0.0 pts

Number of shareholders

38,667shareholders-16% since Dec '23
39k41k43k46k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 45,819
Mar '24: 44,460
Jun '24: 44,255
Sep '24: 43,083
Dec '24: 42,338
Mar '25: 41,924
Jun '25: 41,227
Sep '25: 40,756
Dec '25: 39,684
Mar '26: 38,831
Jun '26: 38,667
 39k41k43k46k Dec '23Dec '24Dec '25Jun '26
Dec '23: 45,819
Mar '24: 44,460
Jun '24: 44,255
Sep '24: 43,083
Dec '24: 42,338
Mar '25: 41,924
Jun '25: 41,227
Sep '25: 40,756
Dec '25: 39,684
Mar '26: 38,831
Jun '26: 38,667

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-82.0%not yet recovered
1-year volatility44.4%annualised

Monthly share price

₹41₹240₹440₹640 Jan '19Aug '20Mar '22Oct '23May '25Oct '26
2019-01: ₹72.55
2019-02: ₹66.30
2019-03: ₹77.75
2019-04: ₹76.30
2019-05: ₹71.45
2019-06: ₹66.25
2019-07: ₹66.75
2019-08: ₹61.45
2019-09: ₹61.30
2019-10: ₹63.25
2019-11: ₹60.65
2019-12: ₹64.55
2020-01: ₹61.90
2020-02: ₹57.25
2020-03: ₹40.65
2020-04: ₹61.65
2020-05: ₹105.20
2020-06: ₹88.30
2020-07: ₹79.05
2020-08: ₹95.95
2020-09: ₹95.50
2020-10: ₹102.20
2020-11: ₹100.20
2020-12: ₹123.10
2021-01: ₹116.50
2021-02: ₹127.70
2021-03: ₹113.60
2021-04: ₹123.80
2021-05: ₹143.85
2021-06: ₹143.45
2021-07: ₹153.35
2021-08: ₹230.95
2021-09: ₹219.50
2021-10: ₹260.40
2021-11: ₹221.35
2021-12: ₹230.80
2022-01: ₹273.45
2022-02: ₹233.55
2022-03: ₹256.10
2022-04: ₹284.40
2022-05: ₹264.00
2022-06: ₹263.75
2022-07: ₹346.30
2022-08: ₹483.40
2022-09: ₹640.00
2022-10: ₹615.25
2022-11: ₹551.50
2022-12: ₹486.00
2023-01: ₹385.65
2023-02: ₹341.65
2023-03: ₹325.35
2023-04: ₹501.80
2023-05: ₹454.85
2023-06: ₹487.15
2023-07: ₹475.35
2023-08: ₹463.05
2023-09: ₹440.20
2023-10: ₹410.20
2023-11: ₹399.80
2023-12: ₹444.15
2024-01: ₹423.75
2024-02: ₹376.85
2024-03: ₹308.30
2024-04: ₹379.05
2024-05: ₹340.25
2024-06: ₹395.20
2024-07: ₹397.95
2024-08: ₹401.20
2024-09: ₹393.70
2024-10: ₹356.60
2024-11: ₹343.75
2024-12: ₹333.05
2025-01: ₹299.15
2025-02: ₹220.30
2025-03: ₹275.80
2025-04: ₹268.55
2025-05: ₹297.05
2025-06: ₹308.30
2025-07: ₹285.05
2025-08: ₹264.75
2025-09: ₹275.65
2025-10: ₹270.00
2025-11: ₹239.55
2025-12: ₹236.80
2026-01: ₹210.65
2026-02: ₹204.80
2026-03: ₹161.00
2026-04: ₹250.05
2026-05: ₹261.95
2026-06: ₹250.50
2026-07: ₹241.80
2026-08: ₹232.67
2026-09: ₹219.03
2026-10: ₹235.44
 ₹41₹240₹440₹640 Jan '19Aug '21Mar '24Oct '26
2019-01: ₹72.55
2019-02: ₹66.30
2019-03: ₹77.75
2019-04: ₹76.30
2019-05: ₹71.45
2019-06: ₹66.25
2019-07: ₹66.75
2019-08: ₹61.45
2019-09: ₹61.30
2019-10: ₹63.25
2019-11: ₹60.65
2019-12: ₹64.55
2020-01: ₹61.90
2020-02: ₹57.25
2020-03: ₹40.65
2020-04: ₹61.65
2020-05: ₹105.20
2020-06: ₹88.30
2020-07: ₹79.05
2020-08: ₹95.95
2020-09: ₹95.50
2020-10: ₹102.20
2020-11: ₹100.20
2020-12: ₹123.10
2021-01: ₹116.50
2021-02: ₹127.70
2021-03: ₹113.60
2021-04: ₹123.80
2021-05: ₹143.85
2021-06: ₹143.45
2021-07: ₹153.35
2021-08: ₹230.95
2021-09: ₹219.50
2021-10: ₹260.40
2021-11: ₹221.35
2021-12: ₹230.80
2022-01: ₹273.45
2022-02: ₹233.55
2022-03: ₹256.10
2022-04: ₹284.40
2022-05: ₹264.00
2022-06: ₹263.75
2022-07: ₹346.30
2022-08: ₹483.40
2022-09: ₹640.00
2022-10: ₹615.25
2022-11: ₹551.50
2022-12: ₹486.00
2023-01: ₹385.65
2023-02: ₹341.65
2023-03: ₹325.35
2023-04: ₹501.80
2023-05: ₹454.85
2023-06: ₹487.15
2023-07: ₹475.35
2023-08: ₹463.05
2023-09: ₹440.20
2023-10: ₹410.20
2023-11: ₹399.80
2023-12: ₹444.15
2024-01: ₹423.75
2024-02: ₹376.85
2024-03: ₹308.30
2024-04: ₹379.05
2024-05: ₹340.25
2024-06: ₹395.20
2024-07: ₹397.95
2024-08: ₹401.20
2024-09: ₹393.70
2024-10: ₹356.60
2024-11: ₹343.75
2024-12: ₹333.05
2025-01: ₹299.15
2025-02: ₹220.30
2025-03: ₹275.80
2025-04: ₹268.55
2025-05: ₹297.05
2025-06: ₹308.30
2025-07: ₹285.05
2025-08: ₹264.75
2025-09: ₹275.65
2025-10: ₹270.00
2025-11: ₹239.55
2025-12: ₹236.80
2026-01: ₹210.65
2026-02: ₹204.80
2026-03: ₹161.00
2026-04: ₹250.05
2026-05: ₹261.95
2026-06: ₹250.50
2026-07: ₹241.80
2026-08: ₹232.67
2026-09: ₹219.03
2026-10: ₹235.44

Last 90 trading days

₹200₹221₹243₹264 Jun 23Jul 20Aug 13Sep 8Oct 6Oct 30
2026-06-23: ₹261.80
2026-06-25: ₹257.00
2026-06-30: ₹250.50
2026-07-02: ₹258.60
2026-07-06: ₹260.30
2026-07-08: ₹252.10
2026-07-10: ₹256.90
2026-07-14: ₹251.00
2026-07-16: ₹251.20
2026-07-20: ₹246.65
2026-07-22: ₹244.20
2026-07-24: ₹242.65
2026-07-28: ₹241.95
2026-07-30: ₹238.05
2026-08-03: ₹246.25
2026-08-05: ₹243.35
2026-08-07: ₹242.72
2026-08-11: ₹242.08
2026-08-13: ₹240.46
2026-08-17: ₹236.57
2026-08-19: ₹235.75
2026-08-21: ₹235.19
2026-08-25: ₹237.14
2026-08-27: ₹234.75
2026-08-31: ₹232.67
2026-09-02: ₹225.18
2026-09-04: ₹232.38
2026-09-08: ₹224.57
2026-09-10: ₹221.63
2026-09-15: ₹218.59
2026-09-17: ₹214.17
2026-09-21: ₹216.69
2026-09-23: ₹221.54
2026-09-25: ₹219.85
2026-09-29: ₹214.68
2026-10-01: ₹214.23
2026-10-06: ₹212.77
2026-10-08: ₹209.80
2026-10-12: ₹202.34
2026-10-14: ₹206.94
2026-10-16: ₹203.84
2026-10-21: ₹201.62
2026-10-23: ₹200.06
2026-10-27: ₹257.84
2026-10-29: ₹241.90
2026-10-30: ₹235.44
 ₹200₹221₹243₹264 Jun 23Aug 5Sep 17Oct 30
2026-06-23: ₹261.80
2026-06-25: ₹257.00
2026-06-30: ₹250.50
2026-07-02: ₹258.60
2026-07-06: ₹260.30
2026-07-08: ₹252.10
2026-07-10: ₹256.90
2026-07-14: ₹251.00
2026-07-16: ₹251.20
2026-07-20: ₹246.65
2026-07-22: ₹244.20
2026-07-24: ₹242.65
2026-07-28: ₹241.95
2026-07-30: ₹238.05
2026-08-03: ₹246.25
2026-08-05: ₹243.35
2026-08-07: ₹242.72
2026-08-11: ₹242.08
2026-08-13: ₹240.46
2026-08-17: ₹236.57
2026-08-19: ₹235.75
2026-08-21: ₹235.19
2026-08-25: ₹237.14
2026-08-27: ₹234.75
2026-08-31: ₹232.67
2026-09-02: ₹225.18
2026-09-04: ₹232.38
2026-09-08: ₹224.57
2026-09-10: ₹221.63
2026-09-15: ₹218.59
2026-09-17: ₹214.17
2026-09-21: ₹216.69
2026-09-23: ₹221.54
2026-09-25: ₹219.85
2026-09-29: ₹214.68
2026-10-01: ₹214.23
2026-10-06: ₹212.77
2026-10-08: ₹209.80
2026-10-12: ₹202.34
2026-10-14: ₹206.94
2026-10-16: ₹203.84
2026-10-21: ₹201.62
2026-10-23: ₹200.06
2026-10-27: ₹257.84
2026-10-29: ₹241.90
2026-10-30: ₹235.44

Drawdown from peak

0% -40% -80% Jan '19Dec '22Oct '26 0% -40% -80% Jan '19Dec '22Oct '26
Largest drawdowns

-82.0% (2022-09 peak to 2026-03 low, not yet recovered)

-53.7% (2019-03 peak to 2020-03 low, recovered 2020-05)

-32.9% (2021-10 peak to 2021-12 low, recovered 2022-07)

Where does it rank among Distribution Services peers?

Each cell is the company's percentile rank among its Distribution Services 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 Distribution Services sector page Watch it move against Distribution Services in the Observatory

What happened next to similar setups

−1.1%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 VINYL CHEMICALS (INDIA) 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 −25% to +38% vs the market, against −4% for all non-financial companies in the same months.
  • The gap against the base rate (+2.8%, 80% range −8.0% to +11.8%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−50%0%+50%+100%
NIRAJ · Jan 2025: −48.4% vs market
ZENITHSTL · Oct 2025: −41.7% vs market
PODDARMENT · Jul 2021: −40.1% vs market
MUNJALSHOW · Aug 2020: −36.3% vs market
MANALIPETC · May 2024: −34.0% vs market
INSECTICID · Aug 2022: −33.5% vs market
PLASTIBLEN · Oct 2023: −33.1% vs market
SOTL · Jan 2025: −31.6% vs market
MADRASFERT · Aug 2025: −30.2% vs market
PONNIERODE · Jun 2021: −28.9% vs market
TVTODAY · Oct 2025: −26.1% vs market
SURYAROSNI · Oct 2025: −25.3% vs market
KSL · Mar 2021: −24.7% vs market
NOCIL · Dec 2023: −24.3% vs market
DLINKINDIA · May 2020: −22.5% vs market
SANDESH · Jan 2021: −18.8% vs market
BUTTERFLY · Oct 2025: −18.3% vs market
IFBAGRO · Dec 2021: −17.3% vs market
SHREDIGCEM · Jul 2023: −13.5% vs market
VARDHACRLC · Jul 2025: −11.2% vs market
ALPHAGEO · Jun 2021: −8.0% vs market
KITEX · Dec 2021: −4.5% vs market
IMPAL · Jun 2025: −4.4% vs market
SESHAPAPER · Mar 2025: −2.6% vs market
INDRAMEDCO · Feb 2020: −1.9% vs market
ALBERTDAVD · Apr 2022: −0.2% vs market
TNPETRO · May 2025: +0.3% vs market
FMGOETZE · Nov 2022: +4.4% vs market
EXCELINDUS · May 2024: +4.4% vs market
BEPL · Apr 2024: +5.0% vs market
INDNIPPON · Aug 2023: +13.6% vs market
RALLIS · May 2024: +18.5% vs market
MODISONLTD · Jun 2023: +23.4% vs market
PPAP · Jul 2020: +25.0% vs market
VSTTILLERS · Oct 2024: +30.7% vs market
HERITGFOOD · Apr 2023: +33.0% vs market
ADOR · Oct 2025: +34.5% vs market
EVERESTIND · Dec 2021: +38.7% vs market
LINCOLN · Feb 2023: +39.5% vs market
IOLCP · May 2025: +43.6% vs market
DODLA · Jan 2023: +47.3% vs market
MAZDA · Dec 2022: +51.4% vs market
WINDLAS · Mar 2023: +52.5% vs market
VOLTAMP · Apr 2022: +61.2% vs market
AVANTIFEED · Apr 2024: +61.5% vs market
HONDAPOWER · Sep 2022: +61.7% vs market
CHEMBOND · Dec 2022: +70.1% vs market
ENGINERSIN · Feb 2023: +96.7% vs market
ANUP · Mar 2023: +112.3% vs market
NBCC · Mar 2023: +125.9% vs market
Similar setups −1.1%All companies −3.9%← 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
−1.1%
All companies' median
−3.9%
Beat the market
48% vs 46%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
MUNJALSHOW
Producer Manufacturing		 Aug 2020 12x6% +14%−17% −36%
PODDARMENT
Process Industries		 Jul 2021 18x14% +131%−4% −40%
KITEX
Process Industries		 Dec 2021 24x11% +77%−4% −5%
VARDHACRLC
Consumer Non-Durables		 Jul 2025 32x7% −23%−23% −11%
WINDLAS
Health Technology		 Mar 2023 13x15% +7%−15% +53%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
ALBERTDAVD
Health Technology		 Apr 2022 16x12% +41%−12% 0%
MAZDA
Producer Manufacturing		 Dec 2022 13x18% +11%−16% +51%
AVANTIFEED
Process Industries		 Apr 2024 26x18% +47%−5% +62%
How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and ROCE. Not used (unavailable for this company): 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 VINYL CHEMICALS (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 2026-10-30. 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 (94 months)
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-1023.1x₹601 cr14.4%15.0%0.0x
2026-0921.5x₹601 cr15.4%15.0%0.0x
2026-0825.9x₹652 cr13.1%15.0%0.0x
2026-0726.9x₹652 cr13.1%15.0%0.0x
2026-0627.8x₹652 cr13.1%15.0%0.0x
2026-0525.1x₹645 cr15.0%22.0%0.0x
2026-0424.0x₹645 cr15.0%22.0%0.0x
2026-0315.5x₹645 cr15.0%22.0%0.0x
2026-0219.2x₹622 cr15.0%22.0%0.0x
2026-0119.7x₹622 cr15.0%22.0%0.0x
2025-1222.2x₹622 cr15.0%22.0%0.0x
2025-1120.1x₹620 cr16.5%22.0%0.0x
2025-1022.7x₹620 cr16.5%22.0%0.0x
2025-0923.1x₹620 cr16.5%22.0%0.0x
2025-0821.8x₹625 cr17.3%22.0%0.0x
2025-0723.4x₹625 cr17.3%22.0%0.0x
2025-0625.3x₹625 cr17.3%22.0%0.0x
2025-0524.1x₹620 cr19.7%22.0%0.0x
2025-0421.8x₹620 cr19.7%22.0%0.0x
2025-0322.4x₹620 cr19.7%22.0%0.0x
2025-0216.5x₹633 cr21.4%22.0%0.0x
2025-0122.4x₹633 cr21.4%22.0%0.0x
2024-1224.9x₹633 cr21.4%22.0%0.0x
2024-1127.1x₹637 cr20.5%22.0%0.0x
2024-1028.1x₹637 cr20.5%22.0%0.0x
2024-0931.0x₹637 cr20.5%22.0%0.0x
2024-0833.7x₹597 cr18.8%22.0%0.0x
2024-0733.4x₹597 cr18.8%22.0%0.0x
2024-0633.2x₹597 cr18.8%22.0%0.0x
2024-0517.5x₹1013 cr31.9%44.0%0.0x
2024-0419.5x₹1013 cr31.9%44.0%0.0x
2024-0315.9x₹1013 cr31.9%44.0%0.0x
2024-0219.4x₹1013 cr31.9%44.0%0.0x
2024-0121.8x₹1013 cr31.9%44.0%0.0x
2023-1222.8x₹1013 cr31.9%44.0%0.0x
2023-1120.6x₹1013 cr31.9%44.0%0.0x
2023-1021.1x₹1013 cr31.9%44.0%0.0x
2023-0922.6x₹1013 cr31.9%44.0%0.0x
2023-0823.8x₹1013 cr31.9%44.0%0.0x
2023-0724.5x₹1013 cr31.9%44.0%0.0x
2023-0625.1x₹1013 cr31.9%44.0%0.0x
2023-0523.9x₹865 cr36.5%55.0%0.0x
2023-0426.4x₹865 cr36.5%55.0%0.0x
2023-0317.1x₹865 cr36.5%55.0%0.0x
2023-0218.0x₹865 cr36.5%55.0%0.0x
2023-0120.3x₹865 cr36.5%55.0%0.0x
2022-1225.6x₹865 cr36.5%55.0%0.0x
2022-1129.0x₹865 cr36.5%55.0%0.0x
2022-1032.4x₹865 cr36.5%55.0%0.0x
2022-0933.7x₹865 cr36.5%55.0%0.0x
2022-0825.4x₹865 cr36.5%55.0%0.0x
2022-0718.2x₹865 cr36.5%55.0%0.0x
2022-0613.9x₹865 cr36.5%55.0%0.0x
2022-0542.6x₹404 cr16.2%23.0%0.0x
2022-0445.9x₹404 cr16.2%23.0%0.0x
2022-0341.4x₹404 cr16.2%23.0%0.0x
2022-0237.7x₹404 cr16.2%23.0%0.0x
2022-0144.2x₹404 cr16.2%23.0%0.0x
2021-1237.3x₹404 cr16.2%23.0%0.0x
2021-1135.8x₹404 cr16.2%23.0%0.0x
2021-1042.1x₹404 cr16.2%23.0%0.0x
2021-0935.5x₹404 cr16.2%23.0%0.0x
2021-0837.3x₹404 cr16.2%23.0%0.0x
2021-0724.8x₹404 cr16.2%23.0%0.0x
2021-0623.2x₹404 cr16.2%23.0%0.0x
2021-0535.3x₹372 cr11.5%14.0%0.0x
2021-0430.4x₹372 cr11.5%14.0%0.0x
2021-0327.9x₹372 cr11.5%14.0%0.0x
2021-0231.4x₹372 cr11.5%14.0%0.0x
2021-0128.6x₹372 cr11.5%14.0%0.0x
2020-1230.2x₹372 cr11.5%14.0%0.0x
2020-1124.6x₹372 cr11.5%14.0%0.0x
2020-1025.1x₹372 cr11.5%14.0%0.0x
2020-0923.5x₹372 cr11.5%14.0%0.0x
2020-0823.6x₹372 cr11.5%14.0%0.0x
2020-0719.4x₹372 cr11.5%14.0%0.0x
2020-0621.7x₹372 cr11.5%14.0%0.0x
2020-0521.8x₹483 cr15.3%24.0%0.0x
2020-0412.8x₹483 cr15.3%24.0%0.0x
2020-038.4x₹483 cr15.3%24.0%0.0x
2020-0211.9x₹483 cr15.3%24.0%0.0x
2020-0112.8x₹483 cr15.3%24.0%0.0x
2019-1213.4x₹483 cr15.3%24.0%0.0x
2019-1112.6x₹483 cr15.3%24.0%0.0x
2019-1013.1x₹483 cr15.3%24.0%0.0x
2019-0912.7x₹483 cr15.3%24.0%0.0x
2019-0812.7x₹483 cr15.3%24.0%0.0x
2019-0713.8x₹483 cr15.3%24.0%0.0x
2019-0613.7x₹483 cr15.3%24.0%0.0x
2019-0511.2x₹375 cr21.4%30.0%0.0x
2019-0412.0x₹375 cr21.4%30.0%0.0x
2019-0312.2x₹375 cr21.4%30.0%0.0x
2019-0210.4x₹375 cr21.4%30.0%0.0x
2019-0111.4x₹375 cr21.4%30.0%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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