HBL Power Systems Ltd
Incorporated in 1983, HBL Power System Ltd manufactures and services different types of batteries, e-mobility, and other products[1]
- Market Cap ₹ 17,776 Cr.
- Current Price ₹ 641
- High / Low ₹ 724 / 244
- Stock P/E 54.3
- Book Value ₹ 44.0
- Dividend Yield 0.08 %
- ROCE 35.9 %
- ROE 27.7 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 66.1% CAGR over last 5 years
- Company's working capital requirements have reduced from 115 days to 82.8 days
Cons
- Stock is trading at 14.4 times its book value
* 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
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,709 | 1,304 | 1,349 | 1,299 | 1,414 | 1,603 | 1,266 | 1,092 | 912 | 1,236 | 1,369 | 2,233 | 2,286 | |
1,487 | 1,208 | 1,210 | 1,164 | 1,286 | 1,477 | 1,169 | 1,011 | 845 | 1,097 | 1,217 | 1,810 | 1,830 | |
Operating Profit | 222 | 95 | 139 | 134 | 129 | 126 | 97 | 81 | 67 | 139 | 151 | 423 | 456 |
OPM % | 13% | 7% | 10% | 10% | 9% | 8% | 8% | 7% | 7% | 11% | 11% | 19% | 20% |
23 | 66 | 9 | 12 | 21 | 16 | 21 | 22 | 6 | 26 | 20 | 8 | -7 | |
Interest | 126 | 76 | 71 | 68 | 46 | 41 | 31 | 22 | 15 | 7 | 7 | 13 | 13 |
Depreciation | 64 | 39 | 53 | 51 | 48 | 46 | 44 | 41 | 39 | 35 | 35 | 41 | 43 |
Profit before tax | 55 | 46 | 24 | 27 | 54 | 55 | 43 | 40 | 19 | 122 | 130 | 377 | 393 |
Tax % | 33% | 16% | 43% | 45% | 29% | 42% | 35% | 35% | 29% | 23% | 24% | 26% | |
38 | 39 | 14 | 15 | 38 | 32 | 28 | 26 | 14 | 94 | 98 | 280 | 309 | |
EPS in Rs | 0.93 | 1.57 | 0.56 | 0.59 | 1.53 | 1.14 | 1.00 | 0.95 | 0.50 | 3.39 | 3.56 | 10.13 | 11.16 |
Dividend Payout % | 16% | 13% | 36% | 42% | 18% | 22% | 30% | 32% | 71% | 12% | 13% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | 6% |
5 Years: | 12% |
3 Years: | 35% |
TTM: | 51% |
Compounded Profit Growth | |
---|---|
10 Years: | 36% |
5 Years: | 66% |
3 Years: | 160% |
TTM: | 154% |
Stock Price CAGR | |
---|---|
10 Years: | 42% |
5 Years: | 104% |
3 Years: | 135% |
1 Year: | 138% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 12% |
3 Years: | 17% |
Last Year: | 28% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 25 | 25 | 25 | 25 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
Reserves | 519 | 536 | 539 | 584 | 701 | 724 | 739 | 745 | 754 | 838 | 924 | 1,193 |
879 | 734 | 686 | 549 | 479 | 366 | 232 | 161 | 70 | 63 | 86 | 67 | |
700 | 459 | 311 | 277 | 258 | 224 | 162 | 169 | 184 | 204 | 257 | 366 | |
Total Liabilities | 2,123 | 1,755 | 1,562 | 1,435 | 1,467 | 1,342 | 1,161 | 1,103 | 1,036 | 1,133 | 1,294 | 1,654 |
847 | 495 | 456 | 415 | 417 | 363 | 321 | 304 | 279 | 265 | 320 | 354 | |
CWIP | 72 | 56 | 49 | 48 | 33 | 26 | 37 | 27 | 43 | 81 | 50 | 20 |
Investments | 30 | 1 | 2 | 8 | 8 | 5 | 5 | 6 | 7 | 8 | 9 | 108 |
1,174 | 1,202 | 1,054 | 964 | 1,008 | 947 | 797 | 766 | 707 | 779 | 915 | 1,171 | |
Total Assets | 2,123 | 1,755 | 1,562 | 1,435 | 1,467 | 1,342 | 1,161 | 1,103 | 1,036 | 1,133 | 1,294 | 1,654 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
35 | -36 | 79 | 158 | 43 | 159 | 167 | 149 | 121 | 62 | 122 | 273 | |
-35 | 156 | -13 | -10 | 60 | -8 | 1 | -6 | -32 | -17 | -50 | -139 | |
2 | -115 | -66 | -153 | -114 | -150 | -163 | -114 | -104 | -22 | 10 | -42 | |
Net Cash Flow | 1 | 5 | -0 | -5 | -11 | 1 | 5 | 29 | -14 | 23 | 82 | 91 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 114 | 122 | 106 | 120 | 122 | 103 | 105 | 102 | 102 | 86 | 83 | 62 |
Inventory Days | 188 | 276 | 226 | 185 | 168 | 126 | 145 | 162 | 188 | 149 | 147 | 137 |
Days Payable | 106 | 134 | 81 | 77 | 68 | 43 | 34 | 41 | 44 | 42 | 43 | 41 |
Cash Conversion Cycle | 196 | 265 | 252 | 228 | 222 | 186 | 216 | 222 | 246 | 193 | 188 | 158 |
Working Capital Days | 117 | 172 | 173 | 172 | 177 | 150 | 164 | 168 | 169 | 133 | 128 | 83 |
ROCE % | 12% | 5% | 8% | 8% | 8% | 9% | 6% | 6% | 4% | 13% | 14% | 36% |
Documents
Announcements
Annual reports
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2011
from nse
-
Financial Year 2011
from bse
Business Verticals:
a) Electronics:[1][2][3]
In Railway Electronics company has flagship products, TCAS (Train Collison Avoidance System) for safety and TMS (Train Management System) for efficient track utilization. In 2021, Indian government adopted TCAS as India’s national Automatic Train Protection and named it KAVACH. Company has secured a contract from Eastern Railway for deploying TCAS over 260 km and 120 locomotives on Delhi- Howrah route and bid for 2 tenders in West Central Railway and Western Railway on the Delhi-Mumbai route. Company has completed execution of TMS project for the Eastern Railway in the Sealdah Division and working on the deployment of TMS on the Eastern Dedicated Freight Corridor.
In Electric Mobility verticle company has developed Electric Drive Train Kit for retrofitting light commercial vehicles and passenger buses.
It has secured approval from ICAT for one rating and seeking approval for vehicles using its drive train solution.
b) Defense[4]
Company manufactures batteries for fighter aircraft, unmanned aerial vehicles, submarine propulsion systems, torpedoes, battle tanks, missiles, artillery fuses and supplies Type 1 batteries for kilo class submarines and Varunasthra torpedo and Type 4 batteries for Scorpene class submarines for the Indian Navy. Company has also developed Submarine Type 2 (HDW) batteries, receiving production orders for Li-ion batteries for defense application from NSTL (Naval Science and Technological Laboratory). It is securing approval for artillery fuses and supplying thermal batteries to overseas contracts.
c) Batteries:[5][6]
Company provides industrial batteries to Telecom, UPS, Railways, Solar, Oil and Gas and Power sectors.
Lead Acid Batteries -
Indian Army awarded a defense order in FY22 for 2V VRLA batteries for its Data Center application. Additionally, it received orders from OEs and EPCs for NCPP and VRLA batteries for a number of Metro Rail projects. Company gained traction in Africa with export of 12V UPS batteries and concentrated on commercial exports and provided batteries for other international projects. Moreover, HBL powered 20K+ installations in FY22 as Preferred Partner for the Bharat Net Wi-Fi Project and also enhanced the 12V UPS battery capacity to meet surging demand.
Tubular Gel Batteries -
HBL received a purchase order for 312 communities' electrification using tubular gel batteries under a government initiative.
Pure Lead Thin Plate Batteries -
Company is a partner to STTelemedia for the supply of PLT batteries for existing and upcoming Data Centres. It also bagged an order from COLT, Data Centre for PLT batteries and positioned PLT as preferred batteries for Data Centres at Reliance. The Company has supplied PLT batteries for battle tank engine cranking application to the Indian Army