52-week range
Price risk
Balance sheet & cash
Was the rally earned?
Mostly yes.
- Per-share earnings added 193 points to the rise, while the multiple moved less (P/E 38.1x to 45.3x).
- The share count barely moved.
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.
Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.
Net profit is trailing twelve months as reported with a 60-day lag.
What is the price implying?
At a P/E of 45.3x, the price would imply about 25.1%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Fewer than six years of annual earnings are available, which is too little to measure delivered growth.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Producer Manufacturing The market-wide Expectations lists
What changed?
- Oct '26Fell 34% from the Aug 2026 peak to the Oct 2026 low.
- Jun '26Revenue (TTM) reached a new high of ₹1,797 cr.
- May '26Volume reached 12.5x its 50-day median on 2026-05-12; price +4.1% that day.
- Apr '26Regained the 2025-11 peak, 3 months after the low.
- Feb '26Volume reached 5.5x its 50-day median on 2026-02-11; price -4.7% that day.
- Jan '26Fell 31% from the Nov 2025 peak to the Jan 2026 low.
- Nov '25Volume reached 20.3x its 50-day median on 2025-11-10; price +19.2% that day.
- Aug '25Regained the 2024-11 peak, 5 months after the low.
Show 22 earlier events
- Jul '25Volume reached 25.3x its 50-day median on 2025-07-07; price -2.6% that day.
- Jun '25Volume reached 9.1x its 50-day median on 2025-06-27; price +5.0% that day.
- Mar '25Promoter holding fell 4.6 pts to 64.9%.
- Mar '25Fell 59% from the Nov 2024 peak to the Mar 2025 low.
- Mar '25Volume reached 6.9x its 50-day median on 2025-03-26; price -5.0% that day.
- Dec '24Volume reached 6.8x its 50-day median on 2024-12-24; price +1.3% that day.
- Jul '24Regained the 2023-11 peak, 4 months after the low.
- Jul '24Volume reached 7.1x its 50-day median on 2024-07-05; price +4.7% that day.
- May '24Volume reached 10.8x its 50-day median on 2024-05-13; price +4.9% that day.
- Mar '24Fell 65% from the Nov 2023 peak to the Mar 2024 low.
- Mar '24Volume reached 36.3x its 50-day median on 2024-03-18; price +4.9% that day.
- Nov '23Regained the 2023-09 peak, 2 months after the low.
- Nov '23Volume reached 6.1x its 50-day median on 2023-11-16; price +2.6% that day.
- Sep '23Fell 28% from the Sep 2023 peak to the Sep 2023 low.
- Aug '23Volume reached 5.2x its 50-day median on 2023-08-25; price +1.8% that day.
- Jun '23Regained the 2022-11 peak, 3 months after the low.
- May '23Volume reached 31.5x its 50-day median on 2023-05-29; price +19.9% that day.
- Mar '23Fell 39% from the Nov 2022 peak to the Mar 2023 low.
- Feb '23Volume reached 14.0x its 50-day median on 2023-02-20; price +6.0% that day.
- Nov '22Regained the 2022-01 peak, 4 months after the low.
- Nov '22Volume reached 75.0x its 50-day median on 2022-11-22; price +17.7% that day.
- Sep '22Volume reached 13.0x its 50-day median on 2022-09-01; price +9.0% that day.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Are profits backed by cash?
1 of 1 checks are within range.
Tap a check to see how it is measured.
Other income reliance2%Within range
Other income as a share of pre-tax profit (trailing twelve months): 2.2%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate—Not enough data
Not enough reported data to compute this.
Cash conversion—Not enough data
Not enough reported data to compute this.
Free cash flow—Not enough data
Not enough reported data to compute this.
Receivable days vs history—Not enough data
Not enough reported data to compute this.
Capital work in progress—Not enough data
Not enough reported data to compute this.
Payable days—Not enough data
Not enough reported data to compute this.
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.
Who has been buying and selling?
- Over 2 years, promoters trimmed 4.6 pts.
- The number of shareholders rose from 496 to 3,330 (+571%) between Mar 2022 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
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.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-65.2% (2023-11 peak to 2024-03 low, recovered 2024-07)
-59.4% (2024-11 peak to 2025-03 low, recovered 2025-08)
-43.3% (2021-04 peak to 2021-07 low, recovered 2022-01)
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 Producer Manufacturing peers?
Each cell is the company's percentile rank among its Producer Manufacturing 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).
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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| UTSSAV CZ GOLD JEWELS (UTSSAV) | Consumer Durables | 52% | debt/equity, P/E |
| KOVAI MEDICAL CENTER & HOSPITA (KOVAI) | Health Services | 48% | volatility, debt/equity |
| BETA DRUGS (BETA) | Health Technology | 39% | P/E, debt/equity |
| PRIZOR VIZTECH (PRIZOR) | Electronic Technology | 34% | ROCE, volatility |
| RAMCO SYSTEMS (RAMCOSYS) | Technology Services | 23% | P/E, volatility |
| BHARAT SEATS (BHARATSE) | Producer Manufacturing | 27% | revenue, debt/equity |
| EPACK PREFAB TECHNOLOGIES (EPACKPEB) | Producer Manufacturing | 27% | promoter holding, revenue |
| MARINE ELECTRICALS INDIA (MARINE) | Producer Manufacturing | 24% | market cap, promoter holding |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like V MARC INDIA LIMITED today on valuation, return on capital, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −31% to +44% vs the market, against −8% for all non-financial companies in the same months.
- The gap against the base rate (+2.5%, 80% range −5.1% to +12.6%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
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 · 3 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 33 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| VIVIANA Industrial Services |
Mar 2025 | 51x | 34% | +176% | −33% | +33% |
| MBAPL Process Industries |
Oct 2022 | 35x | 30% | +430% | −14% | +20% |
| PGEL Electronic Technology |
Jan 2022 | 128x | — | +336% | −10% | +45% |
| HIRECT Producer Manufacturing |
Jan 2025 | 89x | — | +118% | −21% | −4% |
| BCONCEPTS Consumer Durables |
Aug 2023 | 47x | 32% | +216% | −5% | +5% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| SHAREINDIA Finance |
Nov 2021 | 32x | 36% | +652% | −13% | +41% |
| FACT Process Industries |
Jun 2023 | 46x | 30% | +351% | −6% | +55% |
| SHAKTIPUMP Producer Manufacturing |
Jul 2024 | 59x | 31% | +492% | −5% | +33% |
How reliable is this?
Matched on P/E, P/S, ROCE, 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/E and P/S. Not used (unavailable for this company): operating margin. 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.
Monthly history (17 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 45.3x | ₹1797 cr | 34.2% | 41.0% | 0.7x |
| 2026-09 | 49.7x | ₹1797 cr | 34.3% | 41.0% | 0.7x |
| 2026-08 | 53.3x | ₹1797 cr | 34.3% | 41.0% | 0.7x |
| 2026-07 | 41.2x | ₹1797 cr | 34.3% | 41.0% | 0.7x |
| 2026-06 | 39.6x | ₹1797 cr | 34.3% | 41.0% | 0.7x |
| 2026-05 | 93.9x | ₹905 cr | 19.0% | — | 0.9x |
| 2026-04 | 67.2x | ₹905 cr | 19.0% | — | 0.9x |
| 2026-03 | 39.3x | ₹905 cr | 19.0% | — | 0.9x |
| 2026-02 | 47.6x | ₹905 cr | 19.0% | — | 0.9x |
| 2026-01 | 39.5x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-12 | 46.3x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-11 | 48.4x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-10 | 38.1x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-09 | 28.9x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-08 | 31.8x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-07 | 31.0x | ₹905 cr | 19.0% | — | 0.9x |
| 2025-06 | 23.2x | ₹905 cr | 19.0% | — | 0.9x |