# HBL Engineering share price today (HBL Engineering Ltd, formerly HBL Power Systems, NSE: HBLENGINE)

> HBL Engineering share price today: ₹836.40 at the NSE close on 4 November 2026, down 14.6% in a year. HBL Engineering (NSE: HBLENGINE) is worth ₹23,195 crore, trades at a P/E of 28.9 and has closed between ₹642.05 and ₹1,041.30 over the past 52 weeks. > HBL Engineering Ltd's P/E is near the low end of its own history, higher than only 33% of past readings, and its quarterly results are still getting worse. HBLENGINE · Railways - Kavach/Springs · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/hbl-engineering-ltd

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## Key numbers

- Business trend: Growing steadily, from the last 12 quarters
- Price: ₹836.40 (−14.6% in a year)
- P/E: 28.9× (lower than 67% of the last 11 years)
- Revenue (Jun 2026): ₹638 Cr (+6.0% on a year ago)
- Profit (Jun 2026): ₹109 Cr (−23.8% on a year ago)
- Operating margin: 23.0% (−9.0 points on a year ago)
- ROCE: 59%, FY26
- ROIC: 47.5%, against a 12.0% cost of capital: +35.5 points

The main question: yearly earnings per share moved +194.3% while the share price moved −14.6%. ## What is the HBL Engineering share price today? HBL Engineering Ltd's share price was ₹836.40 at the close on 4 November 2026. It has been falling for 11 weeks. That is 11.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹642 and ₹1,041, and at that close it sat 49% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 7 weeks in a row. Over the last 11 years the share price moved +2,290% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at HBL Engineering this quarter? Three changes stood out: profit fell in the June 2026 quarter, operating margin down 9 points on a year earlier and revenue up on a year earlier for 5 quarters in a row. 1. Profit fell in the June 2026 quarter Profit was ₹109 crore, -23.8% on a year earlier (₹143 crore), after 4 quarters of growth. 2. Operating margin down 9 points on a year earlier 23% in the June 2026 quarter, from 32%. 3. Revenue up on a year earlier for 5 quarters in a row In the June 2026 quarter revenue was ₹638 crore, +6% on a year earlier. ## What are HBL Engineering's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), HBL Engineering reported revenue of ₹638 crore, up 6.0% from ₹602 crore a year earlier, and a profit of ₹109 crore, down 23.8% from ₹143 crore. ### HBL Engineering results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹638 crore | ₹602 crore | +6.0% |
| Profit | ₹109 crore | ₹143 crore | −23.8% |
| Earnings per share | ₹3.94 | ₹5.17 | −23.8% |
| Operating margin | 23.0% | 32.0% | −9.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the HBL Engineering share price history? HBL Engineering closed at ₹836.40 on 4 November 2026, down 14.6% from ₹979.20 a year earlier (7 November 2025) and up 1,517.8% over five years. Its highest weekly close since March 2016 was ₹1,041.30 on 14 November 2025. ### HBL Engineering share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹799.35 | +4.6% |
| 1 month ago · 1 Oct 2026 | ₹779.35 | +7.3% |
| 6 months ago · 8 May 2026 | ₹848.15 | −1.4% |
| 1 year ago · 7 Nov 2025 | ₹979.20 | −14.6% |
| 3 years ago · 3 Nov 2023 | ₹287.30 | +191.1% |
| 5 years ago · 4 Nov 2021 | ₹51.70 | +1,517.8% |
| 10 years ago · 4 Nov 2016 | ₹42.50 | +1,868.0% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹35.00 | +2,289.7% |
| Highest weekly close since March 2016, also the 52-week high · 14 Nov 2025 | ₹1,041.30 | −19.7% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹11.05 | +7,469.2% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹642.05 | +30.3% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (560 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on HBL Engineering? 4 Nov 2026: HBL Engineering closed at ₹836.40, up 4.6% on the week and up 7.3% on the month. 11 Sep 2026: ex-date for a dividend of ₹1 a share. ### Earlier

- Results for April to June 2026: Revenue up 6.0% and profit down 23.8% on a year earlier. - 13 Feb 2026: ex-date for an interim dividend of ₹2 a share. ## What dividend does HBL Engineering pay? HBL Engineering paid ₹3 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.36% at the ₹836.40 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 11 September 2026. ### HBL Engineering dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 11 Sep 2026 | ₹1 | Dividend |
| 13 Feb 2026 | ₹2 | Interim |
| 12 Sep 2025 | ₹1 | Dividend |
| 13 Sep 2024 | ₹0.50 | Dividend |
| 15 Sep 2023 | ₹0.45 | Dividend |
| 15 Sep 2022 | ₹0.40 | Dividend |
| 16 Sep 2021 | ₹0.35 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. HBL Engineering Ltd paid out 10% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## Which stock lists is HBL Engineering on? HBL Engineering is on one of our India lists: Small & mid cap stocks. [Small & mid cap stocks Size rank in India: 339](https://www.sectoralpha.in/small-cap-stocks-india)

## Is HBL Engineering profitable? HBL Engineering Ltd earned ₹109 Cr of net profit in the Jun 2026 quarter, −23.8% on the same quarter a year earlier. Full-year FY26 profit was ₹814 Cr. Over 10 years profit has grown 49.1% a year on average. That is 17.1% of the quarter's revenue. The same quarter a year earlier earned ₹143 Cr. For the full year, FY26 profit was ₹814 Cr (+194.9% on the year before). Why profit moved: revenue changed +6.0% on a year earlier and the margin moved −9.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +150.4% and revenue +65.3%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does HBL Engineering make, and is it growing? HBL Engineering Ltd reported ₹638 Cr of revenue in the Jun 2026 quarter, +6.0% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 9.8% a year on average. The last full year, FY26, came in at ₹3,303 Cr. The last four reported quarters add to ₹3,339 Cr. FY26 revenue was ₹3,303 Cr, +67.9% on the year before. Recent pace: the last four quarters grew +65.3% on average, against 9.8% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +62.9%, against +20.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +129.4%, against +59.1% a year (accelerating). ## How much of every ₹100 of sales does HBL Engineering keep? HBL Engineering Ltd's operating margin was 23.0% in the Jun 2026 quarter, 9.0 percentage points lower than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 7.0% and 34.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −8.9 percentage points on the year while gross margin changed −5.2 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. ## Is HBL Engineering's profit turning into cash? Over the last 3 years, 92% of HBL Engineering Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹738 Cr of operating cash against ₹814 Cr of profit. After ₹154 Cr of spending on assets, ₹584 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 92% of profit came in as cash: the cash cycle got 75 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 2.5× depreciation over three years. The next section checks what that spending is building. ## Where does HBL Engineering's cash go? HBL Engineering Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 171 days in FY26, down from 246 days in FY21. It spent ₹334 Cr on assets over the last 3 years. Customers take 71 days to pay, and stock sits for 148 days on average. At FY26 sales of ₹3,303 Cr, each day of that cycle ties up about ₹9.0 Cr, so roughly ₹1,547 Cr is tied up in the business at any time. FY26: customers took 71 days to pay and stock sat for 148 days, about 4.9 months of sales sitting as stock, for a full cycle of 171 days, shorter than FY21's 246. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 148 days. Customers pay about 71 days after that. Suppliers are paid at 49 days. Together that makes the 171-day cycle. Spending on assets: ₹334 Cr over the last 3 years, against ₹136 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹127 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is HBL Engineering's P/E ratio, and how does it compare with its own history? HBL Engineering Ltd's P/E is 28.9×, near the low end of its own history: it has been lower only 33% of the time. Its usual P/E (the middle reading) is 37.1×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹28.17. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +194.3% while the price moved −14.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +74.5% a year; about +83.8% a year came from earnings growth and about −9.3 percentage points from the multiple (the market paying less); over 10 years the price moved +34.7% a year; about +46.6% a year came from earnings growth and about −11.9 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the HBL Engineering business getting better or worse? HBL Engineering Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 53.2%. This is based on 12 quarters of 4 measures. Why it matters: steady growth with healthy returns is how a business compounds over time. ## How much does HBL Engineering earn on its capital? HBL Engineering Ltd earned a ROCE of 59% in FY26. That is up from a low of 4% in FY14. Its return on capital used (ROIC) is 35.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 24.6% net margin and 1.12× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 24.6% net margin × 1.12× asset turnover × 1.33× leverage (assets divided by equity) ≈ 36.6% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 47.5% − 12.0% = +35.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 47.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 53.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does HBL Engineering have too much debt? HBL Engineering Ltd has total debt of ₹67.0 Cr against shareholder equity of ₹2,213 Cr as of Jun 2026, so its debt is 0.03× its equity, which is very little. Year by year, that ratio went from 0.07 in FY22 to 0.03 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the HBL Engineering shareholding pattern? No group of HBL Engineering Ltd's owners changed its stake by a full percentage point over the last two years. Foreign institutions moved +0.4 points over the same period, to 5.3%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +0.7 points over 8 quarters, to 1.6%; Foreign institutions: +0.4 points over 8 quarters, to 5.3%; Promoters: +0.0 points over 8 quarters, to 59.1%. ## How far is HBL Engineering from balance-sheet trouble? For HBL Engineering Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does HBL Engineering rank in its industry? 78.7 out of 100, rank 1 of 4 in Railways - Kavach/Springs, with 82% of the evidence available. HBL Engineering Ltd scores 78.7 out of 100 against the 4 companies it is compared with in Railways - Kavach/Springs, ranking 1. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 28 + 23 + 15.2 + 12.5 = 78.7. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is HBL Engineering compared with? HBL Engineering ranks 1 of 4 Railways - Kavach/Springs companies on the 4-Factor Sector Score, with 78.7 out of 100. 1. HBL Engineering Ltd this page HBLENGINE · turning · Most evidence points up · 82% evidence 78.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.0/35 · Revenue 62.9% · Profit 100% · Operating margin change -9 points · 100% evidence Capital efficiency 23.0/25 · ROCE 59.3% · Operating margin 23% · 100% evidence Valuation 15.2/20 · P/E 27.6× · PEG 1.01 · 85% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 7.8% · 1 year -20.4% · 25% evidence · 3 of 12 weeks ahead Exact sum: 28 + 23 + 15.2 + 12.5 = 78.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Kernex Microsystems (India) Ltd](https://www.sectoralpha.in/stocks/kernex-microsystems-indialtd) KERNEX · quiet · Most evidence points up · 80% evidence 66.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.0/35 · Revenue 100% · Profit 100% · Operating margin change 10 points · 100% evidence Capital efficiency 16.0/25 · ROCE 47.8% · Operating margin 32% · 100% evidence Valuation 10.0/20 · P/E 13.8× · PEG n/a · 0% evidence Relative strength 8.9/20 · Lead over its industry -0.7% · Lead over NIFTY 500 8.8% · 1 year 19.9% · 100% evidence · 2 of 12 weeks ahead Exact sum: 32 + 16 + 10 + 8.9 = 66.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Frontier Springs Ltd](https://www.sectoralpha.in/stocks/frontier-springs-ltd) FRONTSP · turning · Evidence leans up · 77% evidence 61.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.8/43.75 · Revenue 27.4% · Profit 37.2% · Operating margin change -2 points · 100% evidence Capital efficiency 28.8/31.25 · ROCE 50.6% · Operating margin 25% · 100% evidence Valuation 5.5/25 · P/E 25.8× · PEG 2.77 · 85% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 26.8 + 28.8 + 5.5 = 61.1 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 4. [Quadrant Future Tek Ltd](https://www.sectoralpha.in/stocks/quadrant-future-tek-ltd) QUADFUTURE · leader · Evidence leans down · 71% evidence 42.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.0/35 · Revenue 7.1% · Profit -61.2% · Operating margin change 26.9 points · 74% evidence Capital efficiency 0.0/25 · ROCE -15.5% · Operating margin -8.3% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 18.7/20 · Lead over its industry 3.5% · Lead over NIFTY 500 14.2% · 1 year 21.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 14 + 0 + 10 + 18.7 = 42.7 · What this means: Relative strength against the index is 14.2%, and revenue and profit growth are weak. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Jun 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Railways - Kavach/Springs](https://www.sectoralpha.in/sectors/railways-kavach-springs), all 4 compared on one page. ## Which companies are close to HBL Engineering in size? HBL Engineering is the largest of 4 Railways - Kavach/Springs companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: Kernex Microsystems (India), Quadrant Future Tek and Frontier Springs. ### Railways - Kavach/Springs companies close in size

1. HBL Engineering Ltd ₹22,158 crore
2. [Kernex Microsystems (India) Ltd](https://www.sectoralpha.in/stocks/kernex-microsystems-indialtd) ₹2,627 crore
3. [Quadrant Future Tek Ltd](https://www.sectoralpha.in/stocks/quadrant-future-tek-ltd) ₹1,541 crore
4. [Frontier Springs Ltd](https://www.sectoralpha.in/stocks/frontier-springs-ltd) ₹1,513 crore

[All 4 Railways - Kavach/Springs companies, largest first](https://www.sectoralpha.in/sectors/railways-kavach-springs#all-companies)

### Companies close in size in other industries

1. [Procter & Gamble Hygiene and Health Care Ltd](https://www.sectoralpha.in/stocks/procter-gamble-hygiene-and-health-care-ltd) ₹22,239 crore · FMCG - Personal Care
2. [Hatsun Agro Product Ltd](https://www.sectoralpha.in/stocks/hatsun-agro-product-ltd) ₹22,175 crore · FMCG - Dairy Products
3. HBL Engineering Ltd ₹22,158 crore
4. [Capri Global Capital Ltd](https://www.sectoralpha.in/stocks/capri-global-capital-ltd) ₹22,153 crore · Finance & Investments - Gold Loan
5. [Sundram Fasteners Ltd](https://www.sectoralpha.in/stocks/sundram-fasteners-ltd) ₹21,742 crore · Auto Ancillaries - Engine Parts

## What else do people ask about HBL Engineering? ### What is HBL Engineering's share price today? HBL Engineering Ltd's share price is ₹836.40, −14.6% over the past year. The whole company is worth ₹23,195 Cr on the market. In the last 52 weeks it traded between ₹642 to ₹1,041; today it is 49% of the way up from the low, 11.4% above its 200-day average (as of 4 November 2026). ### What were HBL Engineering's latest quarterly results? HBL Engineering Ltd reported revenue of ₹638 Cr and net profit of ₹109 Cr for the Jun 2026 quarter. Revenue rose 6.0% and profit fell 23.8% compared with a year earlier. Earnings per share were ₹3.94. The operating margin was 23.0%, 9.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is HBL Engineering's market cap? HBL Engineering Ltd's market capitalisation is ₹23,195 Cr at a share price of ₹836.40. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is HBL Engineering performing? HBL Engineering Ltd's share price has been falling for 11 weeks. In its latest quarter, revenue rose 6.0% and profit fell 23.8% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 7 weeks running (as of 4 November 2026). ### Will HBL Engineering's share price go up? This page does not forecast HBL Engineering Ltd's share price. What it shows instead: the share price is ₹836.40, and it has been falling for 11 weeks. Its P/E of 28.9× is higher than 33% of its own last 11 years (as of 4 November 2026). ### Who owns HBL Engineering? Promoters own 59.1% of HBL Engineering Ltd, foreign institutions 5.3%, domestic institutions 1.6% and the public 33.9% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 4 November 2026). ### Does HBL Engineering have too much debt? No, HBL Engineering Ltd has little debt: its debt is 0.03× its equity, and its operating profit is 74 times its interest bill. FY26 borrowings were ₹67.0 Cr against equity of ₹2,215 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is HBL Engineering in its business cycle? HBL Engineering Ltd's FY26 operating margin was 34.0%, against a 13-year range of 7.0% to 34.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 23.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the HBL Engineering story? The main question: yearly earnings per share moved +194.3% while the share price moved −14.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is HBL Engineering a stock worth studying right now? What the numbers show: HBL Engineering Ltd's P/E is near the low end of its own history, higher than only 33% of past readings, and its quarterly results are still getting worse. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ## Lists

- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india

This is research, not advice. We’re not SEBI-registered.