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VOLTAMP TRANSFORMERS LIMITED (VOLTAMP)

Producer Manufacturing · Electrical Products · 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.80 / 100
Profitability 76Growth 64Balance 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.39 / 100
Price 55Earnings 23

Passes these screensQuality CompounderDebt-light & profitableInstitutions in, retail outConsistent compounders

Compare withBHARAT HEAVY ELECTRICALSABB INDIASIEMENS

Share price

Closing priceAdjusted for splits and bonus issues.

₹9,858 latest close · +1.6% over the last 90 sessions

₹9,000₹10,000₹11,000Jul 3Jul 29Aug 24Sep 17Oct 14Nov 9 ₹9,000₹10,000₹11,000Jul 3Sep 4Nov 9

₹9,858 month-end · +20.8% over 12 months

₹8,000₹10,000₹12,000Nov '25Jan '26Apr '26Jun '26Sep '26Nov '26 ₹8,000₹10,000₹12,000Nov '25May '26Nov '26

₹9,858 month-end · +79.1% over 3 years

₹5,000₹10,000Nov '23Jun '24Jan '25Sep '25Apr '26Nov '26 ₹5,000₹10,000Nov '23May '25Nov '26

₹9,858 month-end · +893.6% since Jan '19

₹0₹5,000₹10,000₹15,000Jan '19Aug '20Mar '22Sep '23Apr '25Nov '26 ₹0₹5,000₹10,000₹15,000Jan '19Dec '22Nov '26

52-week range ₹6666.00 to ₹12863.00 · 1-year volatility 41.8%

Was the rally earned?

+21%share price, 1 yearMultiple-driven

Partly.

  • Most of the rise came from investors paying a higher multiple (P/E 25.4x to 31.5x); per-share earnings took off 3 points.
  • The share count barely moved.
Net profit growth: −3 pts. Points of the price return explained by net profit growing (or shrinking).−3 ptsNet profit growthP/E change: +24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+24 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: +21%+21%Share priceNet profit growth: −3 pts. Points of the price return explained by net profit growing (or shrinking).−3ProfitP/E change: +24 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+24P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +21%+21%Share price
Net profit growth-3 ptsNet profit fell about 3%, which lowers the price.
P/E change+24 ptsThe P/E rose from 25.4x to 31.5x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+79%share price, 3 yearsEarnings-driven

Mostly yes.

  • Per-share earnings added 63 points to the rise, while the multiple moved less (P/E 27.8x to 31.5x).
  • The share count barely moved.
Net profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63 ptsNet profit growthP/E change: +17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+17 ptsP/E changeShare price: +79%+79%Share priceNet profit growth: +63 pts. Points of the price return explained by net profit growing (or shrinking).+63ProfitP/E change: +17 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+17P/EShare price: +79%+79%Share price
Net profit growth+63 ptsNet profit rose about 58%, which lifts the price.
P/E change+17 ptsThe P/E rose from 27.8x to 31.5x, which lifts the price.
Share count change0 ptsShare count was little changed. More shares would count against the price.
+417%share price, 5 yearsEarnings and multiple

Both mattered.

  • Per-share earnings added 264 points and the multiple added 153 points (P/E 17.2x to 31.5x).
  • The share count barely moved.
Net profit growth: +264 pts. Points of the price return explained by net profit growing (or shrinking).+264 ptsNet profit growthP/E change: +153 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+153 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: +417%+417%Share priceNet profit growth: +264 pts. Points of the price return explained by net profit growing (or shrinking).+264ProfitP/E change: +153 pts. Points of the price return explained by the market paying a higher or lower P/E multiple.+153P/EShare count change: 0 pts. Points of the price return explained by the share count changing. More shares count against the price.0SharesShare price: +417%+417%Share price
Net profit growth+264 ptsNet profit rose about 183%, which lifts the price.
P/E change+153 ptsThe P/E rose from 17.2x to 31.5x, which lifts 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 BHARAT HEAVY ELECTRICALS

How rough has the ride been?

Maximum drawdown-57.8%not yet recovered
1-year volatility41.8%annualised
Beta vs sector index1.333-year daily, correlation 0.56
Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

0%−20%−40%−60%2020202120222023202420252026−56.6% 0%−20%−40%−60%2020202220242026−56.6%
Largest drawdowns

-57.8% (2024-08 peak to 2025-02 low, not yet recovered)

-46.1% (2020-02 peak to 2020-03 low, recovered 2021-06)

-31.4% (2022-07 peak to 2022-09 low, recovered 2023-05)

Most recent volume spikes

2026-10-29: 9.3x the 50-day median, price -2.0% that day

2026-07-31: 17.8x the 50-day median, price +6.7% 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?

31.5xP/E todayNear its historic high
Against its own history81st percentile
CheapestMedian 20.8xDearest

Usual range 12.4x to 35.7x since 2019-01.

Against Producer Manufacturing31.5x vs 29.6x
This company
31.5x
Sector median
29.6x

6% above the Producer Manufacturing median.

10.2x25.8x41.4x57.0xJan '19Aug '20Mar '22Oct '23May '25Nov '2610.2x25.8x41.4x57.0xJan '19Sep '21May '24Nov '26
P/E (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing median

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

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianProducer Manufacturing 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 Producer Manufacturing is valued

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).

Where it ranks today

  • ROCE81st▼ 6 pts vs a year ago
  • Op. margin70th▼ 8 pts vs a year ago
  • Revenue growth59thflat vs a year ago
  • EPS growth34th▼ 4 pts vs a year ago
  • Debt/equity ↓95thflat vs a year ago
  • Cash cycle ↓31st▼ 8 pts vs a year ago
  • P/E ↓46th▼ 17 pts vs a year ago
  • 12M momentum73rd▲ 29 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 Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

What is the price implying?

~22%annual earnings growth implied by the priceIn line with delivered growth

At normalised P/E (five-year average earnings) of 39.3x, a holder earning 12%/yr needs earnings to grow about 21.7%/yr for 10 years, then trade at 15x.

Delivered22.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg
Gap−0.5 ptsimplied minus delivered
Rank541stmost demanding of 856

Over time

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

0%17%33% Jan 2019Nov 2026 0%17%33% Jan 2019Nov 2026

Change the assumptions

Exit P/E / return11%12%13%
12x23.1%24.2%25.3%
15x20.6%21.7%22.8%
20x17.4%18.5%19.5%

Drag a slider to test other assumptions

Implied: 21.7%/yr

Looking back

  • Jan 2020Price implied 14%/yr; EPS has since grown 20%/yr (7.0 yrs)
  • Jan 2021Price implied 11%/yr; EPS has since grown 23%/yr (6.0 yrs)
  • Jan 2022Price implied 16%/yr; EPS has since grown 22%/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 Producer Manufacturing The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov
₹9858.00
P/E
31.5x
ROCE
24.0%
Market Cap
₹9973 cr
Revenue (TTM)
₹2274 cr
P/S
4.4x
P/B
5.6x
ROE
17.7%
Operating Margin
15.0%
Debt / Equity
0.0x
Promoter Holding
30.0%
12M Momentum
20.8%

52-week range

₹6666.00₹12863.00
52% of the way from its 52-week low to its high

Price risk

1Y volatility
41.8%
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
0.61x
Share count, 1Y
unchanged

Are profits backed by cash?

4 of 7checks within range1 beyond a threshold
Other income reliance17%Near threshold

Other income as a share of pre-tax profit (trailing twelve months): 17.4%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate24%Within range

Median quarterly effective tax rate over about 2.5 years: 24.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.61xNear threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.61x (cash from operations ₹575 cr, net profit ₹937 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

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

Receivable days vs history-9 daysWithin range

Debtor days are below the median of the previous three fiscal years by 9 days (46 vs 55). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress92% of fixed assetsBeyond threshold

Capital work-in-progress is 92% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-1 days / 2 yrsWithin range

Days payable changed by -1 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 trimmed 8.0 pts; DIIs added 5.2 pts; FIIs trimmed 1.7 pts.
  • The number of shareholders rose from 30,223 to 52,732 (+74%) between Dec 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupDec '23Jun '26Change
Promoters38.0%30.0%-8.0 pts
FIIs23.2%21.5%-1.7 pts
DIIs28.7%33.9%+5.2 pts
Public and others10.0%14.6%+4.6 pts

Number of shareholders

52,732shareholders+74% since Dec '23
27k40k54k67k Dec '23Jun '24Dec '24Jun '25Dec '25Jun '26
Dec '23: 30,223
Mar '24: 26,754
Jun '24: 32,028
Sep '24: 37,198
Dec '24: 45,154
Mar '25: 56,960
Jun '25: 61,983
Sep '25: 66,973
Dec '25: 60,919
Mar '26: 56,679
Jun '26: 52,732
 27k40k54k67k Dec '23Dec '24Dec '25Jun '26
Dec '23: 30,223
Mar '24: 26,754
Jun '24: 32,028
Sep '24: 37,198
Dec '24: 45,154
Mar '25: 56,960
Jun '25: 61,983
Sep '25: 66,973
Dec '25: 60,919
Mar '26: 56,679
Jun '26: 52,732

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

−1.5%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 VOLTAMP TRANSFORMERS 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 −27% to +20% vs the market, against −1% for all non-financial companies in the same months.
  • The gap against the base rate (−0.7%, 80% range −19.6% to +7.5%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

−100%−50%0%+50%+100%
VEEDOL · Jul 2021: −69.7% vs market
NUCLEUS · Oct 2020: −40.3% vs market
FINCABLES · Jun 2024: −38.5% vs market
SIRCA · Jun 2023: −36.7% vs market
GRSE · Jul 2020: −35.2% vs market
SAREGAMA · Jan 2025: −33.2% vs market
JYOTHYLAB · Jul 2024: −33.0% vs market
ENGINERSIN · Jan 2024: −32.3% vs market
FDC · Dec 2020: −32.1% vs market
CARERATING · Oct 2021: −31.2% vs market
ARE&M · Jun 2020: −29.9% vs market
SASKEN · Apr 2021: −28.2% vs market
ZENSARTECH · Oct 2025: −27.3% vs market
VESUVIUS · Aug 2025: −24.7% vs market
INDNIPPON · Apr 2020: −22.9% vs market
HONDAPOWER · Jun 2020: −22.5% vs market
BSOFT · Jul 2021: −22.2% vs market
SUMICHEM · Jun 2025: −20.7% vs market
KSB · Apr 2024: −20.1% vs market
CERA · Jul 2023: −20.0% vs market
DHANUKA · Dec 2020: −19.6% vs market
SHANTIGEAR · Aug 2023: −10.3% vs market
JUSTDIAL · Jan 2020: −10.2% vs market
KENNAMET · Oct 2022: −8.9% vs market
ERIS · Aug 2020: −4.7% vs market
SKFINDIA · Oct 2022: +1.7% vs market
SUPREMEIND · Jul 2023: +2.2% vs market
BLS · Jun 2024: +3.1% vs market
INTELLECT · Jun 2024: +5.3% vs market
FINEORG · Jun 2025: +7.8% vs market
RHIM · Jul 2022: +8.0% vs market
BOROLTD · Apr 2023: +10.6% vs market
CARBORUNIV · Jan 2022: +11.1% vs market
BEL · Apr 2020: +14.3% vs market
AJANTPHARM · Jan 2024: +14.6% vs market
FINPIPE · Apr 2020: +17.8% vs market
JBCHEPHARM · Feb 2021: +19.8% vs market
INGERRAND · Jan 2023: +19.8% vs market
ADVENZYMES · Aug 2020: +20.3% vs market
SCHAEFFLER · Feb 2025: +20.6% vs market
RITES · May 2023: +29.8% vs market
RATEGAIN · Sep 2025: +31.3% vs market
BDL · Jun 2022: +37.0% vs market
COFORGE · Apr 2020: +49.4% vs market
GRINDWELL · Sep 2021: +49.9% vs market
PERSISTENT · Feb 2021: +98.0% vs market
TRITURBINE · Jul 2022: +104.1% vs market
MAZDOCK · Feb 2024: +113.1% vs market
TDPOWERSYS · Feb 2025: +147.8% vs market
ADFFOODS · Apr 2020: +186.7% vs market
Similar setups −1.5%All companies −0.8%← worse than the marketbetter than the market →

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

Similar setups' median
−1.5%
All companies' median
−0.8%
Beat the market
50% vs 49%

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

The closest matches

CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
VESUVIUS
Non-Energy Minerals		 Aug 2025 40x25% −7%−19% −25%
TDPOWERSYS
Producer Manufacturing		 Feb 2025 36x25% +4%−35% +148%
GRSE
Producer Manufacturing		 Jul 2020 14x22% +44%−19% −35%
BDL
Electronic Technology		 Jun 2022 25x26% +90%−20% +37%
FINCABLES
Producer Manufacturing		 Jun 2024 37x19% +82%−5% −39%
Show the other 3 matches
CompanyWhenP/EROCE12M mom.DrawdownNext 12 months
JBCHEPHARM
Health Technology		 Feb 2021 32x23% +108%−10% +20%
JUSTDIAL
Technology Services		 Jan 2020 18x22% +18%−31% −10%
KSB
Producer Manufacturing		 Apr 2024 75x23% +101%−9% −20%
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: ROCE, P/E and P/S. 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 VOLTAMP TRANSFORMERS 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.

SAFARI INDUSTRIES INDIASAFARI
Consumer Durables
65%similar
revenuerevenue growth
INTELLECT DESIGN ARENAINTELLECT
Technology Services
63%similar
promoter holdingvolatility
MARKSANS PHARMAMARKSANS
Health Technology
62%similar
revenue growthmarket cap
TANLA PLATFORMSTANLA
Technology Services
61%similar
market capROCE
INDIGO PAINTSINDIGOPNTS
Process Industries
60%similar
P/Eoperating margin
KIRLOSKAR PNEUMATIC COLTDKIRLPNU
Producer Manufacturing
63%similar
operating marginP/E
TRIVENI TURBINETRITURBINE
Producer Manufacturing
62%similar
revenueEPS growth
FINOLEX CABLESFINCABLES
Producer Manufacturing
60%similar
EPS growthdebt/equity

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

What changed?

30 events since Sep '23

  1. OctPriceVolume reached 9.3x its 50-day median on 2026-10-29; price -2.0% that day.
  2. SepResultsRevenue (TTM) reached a new high of ₹2,274 cr.
  3. AugValuationP/E crossed above the 90th percentile of its own history to date (36.1x).
  4. JulPriceVolume reached 17.8x its 50-day median on 2026-07-31; price +6.7% that day.
  5. JunResultsYear-on-year EPS growth turned negative.
  6. JunPeer rankSlipped to the 2nd quartile of Producer Manufacturing on operating margin (from the top quartile).
  7. MayPriceVolume reached 11.1x its 50-day median on 2026-05-05; price -19.5% that day.
  8. MarResultsYear-on-year EPS growth turned positive.
Show 22 earlier events
  1. MarInstitutionsFII + DII holding rose 6.5 pts over 2 quarters to 53.2%.
  2. MarPeer rankMoved into the 2nd quartile of Producer Manufacturing on EPS growth (from the 3rd quartile).
  3. FebPriceVolume reached 6.1x its 50-day median on 2026-02-05; price +3.7% that day.
  4. DecPromoterPromoter holding fell 7.8 pts to 30.0%.
  5. DecResultsRevenue (TTM) reached a new high of ₹2,016 cr.
  6. NovPriceVolume reached 17.2x its 50-day median on 2025-11-10; price +11.1% that day.
  7. SepResultsYear-on-year EPS growth turned negative.
  8. SepPriceVolume reached 61.0x its 50-day median on 2025-09-09; price -3.5% that day.
  9. JunInstitutionsFII + DII holding fell 3.7 pts over 2 quarters to 47.4%.
  10. JunPeer rankSlipped to the 3rd quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  11. MarPeer rankSlipped to the 2nd quartile of Producer Manufacturing on EPS growth (from the top quartile).
  12. FebPriceFell 58% from the Aug 2024 peak to the Feb 2025 low.
  13. FebPriceVolume reached 9.8x its 50-day median on 2025-02-20; price +12.8% that day.
  14. OctPriceVolume reached 10.4x its 50-day median on 2024-10-28; price -13.9% that day.
  15. SepPeer rankMoved into the top quartile of Producer Manufacturing on EPS growth (from the 2nd quartile).
  16. JulPriceVolume reached 6.7x its 50-day median on 2024-07-29; price +16.0% that day.
  17. JunResultsRevenue (TTM) reached a new high of ₹1,616 cr.
  18. JanPriceVolume reached 7.5x its 50-day median on 2024-01-19; price +7.3% that day.
  19. DecPriceRegained the 2023-08 peak, 2 months after the low.
  20. OctPriceFell 28% from the Aug 2023 peak to the Oct 2023 low.
  21. OctPriceVolume reached 8.7x its 50-day median on 2023-10-27; price +6.3% that day.
  22. SepPriceVolume reached 23.2x its 50-day median on 2023-09-26; price -5.2% 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
2026-1131.5x₹2274 cr17.7%24.0%0.0x
2026-1033.0x₹2274 cr17.7%24.0%0.0x
2026-0933.5x₹2274 cr17.7%24.0%0.0x
2026-0836.1x₹2154 cr17.1%24.0%0.0x
2026-0732.9x₹2154 cr17.1%24.0%0.0x
2026-0634.4x₹2154 cr17.1%24.0%0.0x
2026-0527.1x₹2162 cr22.4%29.0%0.0x
2026-0433.5x₹2162 cr22.4%29.0%0.0x
2026-0324.8x₹2162 cr22.4%29.0%0.0x
2026-0228.0x₹2016 cr20.7%29.0%0.0x
2026-0122.7x₹2016 cr20.7%29.0%0.0x
2025-1224.2x₹2016 cr20.7%29.0%0.0x
2025-1125.4x₹1931 cr20.5%29.0%0.0x
2025-1023.0x₹1931 cr20.5%29.0%0.0x
2025-0922.5x₹1931 cr20.5%29.0%0.0x
2025-0824.3x₹1935 cr20.5%29.0%0.0x
2025-0727.5x₹1935 cr20.5%29.0%0.0x
2025-0629.6x₹1935 cr20.5%29.0%0.0x
2025-0526.0x₹1814 cr23.8%32.0%0.0x
2025-0422.9x₹1814 cr23.8%32.0%0.0x
2025-0322.4x₹1814 cr23.8%32.0%0.0x
2025-0218.5x₹1738 cr25.4%32.0%0.0x
2025-0124.6x₹1738 cr25.4%32.0%0.0x
2024-1229.9x₹1738 cr25.4%32.0%0.0x
2024-1130.6x₹1721 cr24.8%32.0%0.0x
2024-1034.9x₹1721 cr24.8%32.0%0.0x
2024-0939.7x₹1721 cr24.8%32.0%0.0x
2024-0846.4x₹1616 cr22.7%32.0%0.0x
2024-0744.5x₹1616 cr22.7%32.0%0.0x
2024-0636.2x₹1616 cr22.7%32.0%0.0x
2024-0557.0x₹1385 cr18.1%25.0%0.0x
2024-0452.6x₹1385 cr18.1%25.0%0.0x
2024-0348.9x₹1385 cr18.1%25.0%0.0x
2024-0244.6x₹1385 cr18.1%25.0%0.0x
2024-0140.8x₹1385 cr18.1%25.0%0.0x
2023-1233.0x₹1385 cr18.1%25.0%0.0x
2023-1127.8x₹1385 cr18.1%25.0%0.0x
2023-1024.3x₹1385 cr18.1%25.0%0.0x
2023-0922.7x₹1385 cr18.1%25.0%0.0x
2023-0829.1x₹1385 cr18.1%25.0%0.0x
2023-0723.4x₹1385 cr18.1%25.0%0.0x
2023-0620.5x₹1385 cr18.1%25.0%0.0x
2023-0531.8x₹1127 cr14.1%19.0%0.0x
2023-0422.8x₹1127 cr14.1%19.0%0.0x
2023-0320.5x₹1127 cr14.1%19.0%0.0x
2023-0220.8x₹1127 cr14.1%19.0%0.0x
2023-0119.2x₹1127 cr14.1%19.0%0.0x
2022-1221.1x₹1127 cr14.1%19.0%0.0x
2022-1120.5x₹1127 cr14.1%19.0%0.0x
2022-1020.8x₹1127 cr14.1%19.0%0.0x
2022-0919.8x₹1127 cr14.1%19.0%0.0x
2022-0821.2x₹1127 cr14.1%19.0%0.0x
2022-0726.6x₹1127 cr14.1%19.0%0.0x
2022-0621.9x₹1127 cr14.1%19.0%0.0x
2022-0520.5x₹692 cr13.4%15.0%0.0x
2022-0416.9x₹692 cr13.4%15.0%0.0x
2022-0317.7x₹692 cr13.4%15.0%0.0x
2022-0217.2x₹692 cr13.4%15.0%0.0x
2022-0118.7x₹692 cr13.4%15.0%0.0x
2021-1218.0x₹692 cr13.4%15.0%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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