Current Share Price (NSE / BSE) ₹ 1,595.40
52-Week Range ₹ 890 — ₹ 2,096.60
Market Cap ₹ 58,500-₹ 60,000 Crore
P/E Ratio (Trailing-12-months / TTM) 106×
Price / Book (P/B) 14.8×
EPS (TTM) ₹ 15.3 per share
Book Value per Share ₹ 109.37
ROE (Return on Equity) 13.7-14%
ROCE (Return on Capital Employed) 19.7%
Debt to Equity Near zero i.e. almost debt-free
Dividend Yield 0.28-0.29%
Valuation is very high: P/E 106× is steep; P/B 14.8× also high. Margin for error is small.
Recent Profit Decline: Q4 FY25 standalone PAT declined by 5.5% YoY. That concerns given high expectations.
Volatility / Sensitivity to Execution: Order execution, delivery delays, supply chain issues could affect performance. Also “other income” might be inflating profits in some quarters.
Dividend Yield is low: At ~0.3%, yield is not significant especially given the high price. If investor is seeking income, that’s a downside.
Dependence on Government Contracts: While stability is a plus, there may be risks (delays, policy changes, budget constraints). Also, export dependence is limited (or growing slowly). Competitive pressures, technological demands are rising.