Yash Highvoltage Ltd
Incorporated in 2002, Yash Highvoltage
Ltd is in the business of power engineering
and specialized high voltage and high current Transformer Bushing[1]
- Market Cap ₹ 3,480 Cr.
- Current Price ₹ 1,164
- High / Low ₹ 1,310 / 366
- Stock P/E 56.6
- Book Value ₹ 107
- Dividend Yield 0.12 %
- ROCE 28.6 %
- ROE 23.5 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 58.3% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.4%
Cons
- Stock is trading at 10.9 times its book value
- Promoter holding has decreased over last quarter: -3.45%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 38 | 37 | 65 | 90 | 108 | 150 | 235 | 330 | |
| 32 | 30 | 51 | 71 | 87 | 117 | 178 | 241 | |
| Operating Profit | 6 | 7 | 15 | 19 | 22 | 33 | 57 | 89 |
| OPM % | 16% | 20% | 22% | 21% | 20% | 22% | 24% | 27% |
| 0 | 0 | 0 | 0 | 1 | 2 | 4 | 3 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 4 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 3 | 6 | 8 |
| Profit before tax | 4 | 6 | 12 | 16 | 18 | 28 | 50 | 80 |
| Tax % | 28% | 30% | 30% | 30% | 31% | 24% | 25% | |
| 3 | 4 | 9 | 11 | 12 | 21 | 37 | 60 | |
| EPS in Rs | 1.27 | 1.76 | 3.92 | 5.14 | 5.55 | 7.51 | 13.08 | 20.42 |
| Dividend Payout % | 38% | 67% | 30% | 29% | 0% | 13% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 44% |
| 3 Years: | 38% |
| TTM: | 72% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 58% |
| 3 Years: | 51% |
| TTM: | 115% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 120% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 24% |
| Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 3 | 3 | 3 | 3 | 3 | 14 | 14 | 15 |
| Reserves | 10 | 14 | 21 | 29 | 39 | 133 | 170 | 305 |
| 3 | 2 | 7 | 8 | 7 | 24 | 38 | 16 | |
| 9 | 12 | 11 | 19 | 22 | 32 | 43 | 117 | |
| Total Liabilities | 26 | 31 | 43 | 59 | 71 | 204 | 264 | 453 |
| 0 | 8 | 14 | 17 | 18 | 42 | 52 | 129 | |
| CWIP | 0 | 1 | 0 | 0 | 5 | 8 | 52 | 17 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 |
| 26 | 22 | 28 | 42 | 47 | 154 | 156 | 301 | |
| Total Assets | 26 | 31 | 43 | 59 | 71 | 204 | 264 | 453 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 3 | 7 | 7 | 9 | 14 | 10 | 9 | |
| -1 | -3 | -10 | -4 | -9 | -84 | -15 | |
| -1 | -2 | 3 | -5 | -5 | 96 | 1 | |
| Net Cash Flow | 0 | 2 | 0 | 0 | 0 | 22 | -5 |
| Free Cash Flow | 2 | 4 | 1 | 5 | 1 | -29 | -50 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 66% | 112% | 76% | 75% | 87% | 49% | 42% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 68 | 66 | 53 | 66 | 42 | 68 | 47 |
| Inventory Days | 133 | 193 | 130 | 126 | 143 | 138 | 201 |
| Days Payable | 90 | 132 | 81 | 110 | 103 | 93 | 62 |
| Cash Conversion Cycle | 111 | 127 | 102 | 82 | 82 | 112 | 187 |
| Working Capital Days | 80 | 68 | 45 | 47 | 45 | 44 | 69 |
| ROCE % | 35% | 52% | 48% | 45% | 28% | 29% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Bushing units sold units |
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| Export share in revenue (geography mix) % |
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| RIP share in revenue (product mix) % |
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| Cumulative bushings installed units |
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| Installed capacity (units) units |
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| Capacity utilization % |
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| Order book Rs. Cr |
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| Repeat order rate % |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Yash Highvoltage shared recording of its earnings call held on 21 October 2026.
-
Submission Of Statement Of Deviation Or Variation In Utilisation Of Proceeds For The Quarter Ended September 30, 2026- Pref Issue
- Submitted deviation/variation statement for preferential issue proceeds for quarter ended September 30, 2026.
-
Submission Of Statement Of Deviation Or Variation In Utilisation Of Proceeds For The Quarter Ended September 30, 2026- IPO Fund
- Filed deviation/variation statement for IPO proceeds for quarter ended September 30, 2026.
-
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
- Intimation of allotment of 9200 Equity shares pursuant to the exercise of vested employee stock Options under the Yash Highvoltage Limited Employee Stock Option Scheme-2025 …
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- H1 FY27 revenue rose 95% to ₹194.5 crore, PAT up 165% to ₹36.2 crore; new US agreements.
Annual reports
-
Annual Report 2026
from bse
-
Annual Report 2025
from bse
-
Annual Report 2024
from web
Concalls
-
Oct 2026PPT REC
-
May 2026Transcript PPT REC
-
Oct 2025Transcript PPT REC
-
Jun 2025Transcript
-
Jan 2025Transcript
-
Sep 2024PPT
Business Overview:[1]
a) YHVL is in manufacturing and distribution of wide range of transformer which includes:
- Oil Impregnated Paper [OIP] condenser
bushing
- Resin Impregnated Paper [RIP] / Resin Impregnated Synthetic [RIS] condenser
bushing
- High Voltage and High Current bushing
- OIP Wall bushing
- Oil to Oil bushing
b) The company also undertakes repairing, retrofitting and replacement services of old bushings.
c) It provides on-site/off-site bushings
technical testing, analysis and repairing
services.
d) Company is on the approved vendor
list of various Indian Government Enterprises
and large private companies engaged in
Power sector.
e) YHVL is an ISO 9001:2015 accredited manufacturer of HV condenser-graded transformer bushings, compliant with
IEC, IEEE and ANSI standards.