Hardwyn India Ltd
Incorporated in 2017, Hardwyn India Ltd is in the business of wholesale and retail trade of Architectural Hardware and Glass fittings, Kitchen Hardware, Accessories and Appliances[1]
- Market Cap ₹ 687 Cr.
- Current Price ₹ 14.1
- High / Low ₹ 30.4 / 10.8
- Stock P/E 52.6
- Book Value ₹ 8.05
- Dividend Yield 0.00 %
- ROCE 4.13 %
- ROE 2.77 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 155% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 3.08% over last 3 years.
- Promoter holding has decreased over last 3 years: -31.1%
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 18 | 42 | 12 | 57 | 84 | 124 | 135 | 141 | 143 | |
| 18 | 42 | 11 | 55 | 79 | 111 | 119 | 124 | 122 | |
| Operating Profit | 0 | 0 | 0 | 2 | 5 | 13 | 16 | 17 | 20 |
| OPM % | 1% | 1% | 4% | 4% | 6% | 11% | 12% | 12% | 14% |
| 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 2 |
| Profit before tax | 0 | 0 | 0 | 2 | 5 | 13 | 14 | 15 | 18 |
| Tax % | 20% | 25% | 31% | 27% | 28% | 29% | 30% | 29% | |
| 0 | 0 | 0 | 2 | 3 | 9 | 10 | 11 | 13 | |
| EPS in Rs | 0.00 | 0.00 | 0.00 | 0.05 | 0.12 | 0.19 | 0.20 | 0.22 | 0.27 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 65% |
| 3 Years: | 19% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 155% |
| 3 Years: | 47% |
| TTM: | 31% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 74% |
| 3 Years: | -2% |
| 1 Year: | -43% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 4% |
| 3 Years: | 3% |
| Last Year: | 3% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7 | 10 | 10 | 10 | 10 | 26 | 35 | 49 |
| Reserves | 0 | 0 | 0 | 2 | 5 | 346 | 347 | 344 |
| 0 | 6 | 0 | 5 | 7 | 5 | 9 | 10 | |
| 2 | 1 | 3 | 22 | 35 | 32 | 52 | 47 | |
| Total Liabilities | 9 | 17 | 13 | 39 | 57 | 409 | 443 | 449 |
| 0 | 0 | 0 | 0 | 1 | 1 | 5 | 4 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 348 | 348 | 348 |
| 9 | 17 | 13 | 39 | 56 | 60 | 90 | 97 | |
| Total Assets | 9 | 17 | 13 | 39 | 57 | 409 | 443 | 449 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| -7 | -9 | 6 | -4 | -0 | 4 | 2 | 1 | |
| -0 | -0 | -0 | -0 | -1 | -0 | -5 | -1 | |
| 7 | 9 | -6 | 5 | 1 | -3 | 3 | -1 | |
| Net Cash Flow | 0 | -0 | 0 | 1 | 0 | 0 | 0 | 0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 178 | 148 | 291 | 135 | 132 | 62 | 84 | 82 |
| Inventory Days | 1 | 0 | 6 | 69 | 71 | 113 | 152 | 173 |
| Days Payable | 45 | 83 | 146 | 163 | 97 | 143 | 108 | |
| Cash Conversion Cycle | 134 | 148 | 214 | 58 | 40 | 78 | 93 | 147 |
| Working Capital Days | 139 | 88 | 326 | 69 | 58 | 64 | 76 | 101 |
| ROCE % | 2% | 3% | 17% | 27% | 7% | 4% | 4% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Management
16h - Ms. Nidhi Sethi resigned as Independent Director effective 25 Oct 2025; holds one other directorship.
-
Announcement under Regulation 30 (LODR)-Resignation of Director
16h - Ms. Nidhi Sethi resigned as Independent Director effective 25 Oct 2025; personal reasons; no material reasons.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
19 Oct - For publication of notice of Annual General Meeting and e-voting details in newspaper.
-
Intimation Of 08Th Annual General Meeting ('AGM') And Book Closure For AGM
18 Oct - 08th AGM; book closure 05–12 Nov 2025; remote e‑voting 09–11 Nov; cut-off date 03 Nov 2025.
-
Reg. 34 (1) Annual Report.
18 Oct - AGM on 12 Nov 2025; preferential issue 2,53,76,751 shares @Rs184 (~Rs466.93Cr); authorised capital to Rs55Cr; MD reappointment.
Business Overview:[1]
HIL manufactures architectural hardware and glass fittings and offers solutions for residential and commercial structures