Hindustan Composites Ltd

₹ 409 -0.12%

18 Aug - close price

hindcompo.com BSE: 509635 NSE: HINDCOMPOS

About

Incorporated in 1964, Hindustan Composites Ltd is in the business of manufacturing and marketing of fibre based friction material, and treasury business^[1]

Key Points

Business Overview:^[1]^[2]
HCL is an ISO 9001:2015 & IATF 16949:2016 certified developer, manufacturer & marketer of Friction Materials in India comprising Brake Lining, Clutch Facing, Disc Brake Pad, Roll Lining, Brake Block, etc. Company is also engaged in the treasury business.

Website BSE NSE

Market Cap ₹ 598 Cr.
Current Price ₹ 409
High / Low ₹ 550 / 346
Stock P/E 34.2
Book Value ₹ 777
Dividend Yield 0.49 %
ROCE 0.48 %
ROE 0.41 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.
Stock is trading at 0.53 times its book value

Cons

The company has delivered a poor sales growth of -20.1% over past five years.
Company has a low return on equity of 2.73% over last 3 years.
Earnings include an other income of Rs.13.4 Cr.
Dividend payout has been low at 13.6% of profits over last 3 years
Company has high debtors of 387 days.
Working capital days have increased from 175 days to 465 days

* 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.70	71.72	71.69	78.57	77.15	76.95	81.83	89.15	14.62	88.58	94.51	18.05	20.05
	61.19	58.22	60.67	66.31	63.61	64.04	65.69	72.92	11.51	78.05	79.68	15.60	17.51
Operating Profit	14.51	13.50	11.02	12.26	13.54	12.91	16.14	16.23	3.11	10.53	14.83	2.45	2.54
OPM %	19.17%	18.82%	15.37%	15.60%	17.55%	16.78%	19.72%	18.21%	21.27%	11.89%	15.69%	13.57%	12.67%
	0.06	0.64	0.01	0.22	0.05	0.17	0.02	-3.94	5.92	0.00	-2.91	9.59	6.75
Interest	0.04	0.04	0.01	0.00	0.03	0.02	0.02	0.01	0.00	0.08	0.06	0.00	0.00
Depreciation	2.22	2.32	2.53	2.46	2.51	2.60	2.63	2.59	0.91	2.92	2.99	1.01	0.96
Profit before tax	12.31	11.78	8.49	10.02	11.05	10.46	13.51	9.69	8.12	7.53	8.87	11.03	8.33
Tax %	18.44%	15.62%	23.91%	20.46%	21.54%	11.19%	18.80%	37.36%	8.13%	29.88%	24.80%	-6.07%	-4.20%
	10.04	9.94	6.46	7.97	8.67	9.29	10.97	6.07	7.46	5.28	6.67	11.70	8.68
EPS in Rs	6.80	6.73	4.37	5.40	5.87	6.29	7.43	4.11	5.05	3.58	4.52	7.92	5.88
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	143	153	166	199	197	178	185	233	283	298	325	60	221
	107	123	127	162	172	158	155	195	239	243	263	51	191
Operating Profit	36	30	39	37	25	20	30	37	44	55	62	9	30
OPM %	25%	20%	23%	18%	13%	11%	16%	16%	16%	18%	19%	15%	14%
	0	0	1	0	2	0	4	-4	-2	-2	-7	26	13
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	6	7	8	9	9	10	9	9	9	10	10	4	8
Profit before tax	30	24	32	28	18	10	25	25	33	43	45	32	36
Tax %	13%	13%	22%	10%	-4%	-17%	15%	13%	16%	19%	22%	2%
	26	21	25	25	19	12	21	22	27	34	35	31	32
EPS in Rs	17.43	14.00	16.82	17.18	12.86	8.15	14.21	14.63	18.60	23.30	23.70	21.06	21.90
Dividend Payout %	2%	2%	2%	3%	16%	25%	14%	14%	11%	9%	8%	24%

Compounded Sales Growth
10 Years:	-9%
5 Years:	-20%
3 Years:	-40%
TTM:	-16%

Compounded Profit Growth
10 Years:	-14%
5 Years:	-23%
3 Years:	-46%
TTM:	-53%

Stock Price CAGR
10 Years:	0%
5 Years:	6%
3 Years:	0%
1 Year:	-11%

Return on Equity
10 Years:	3%
5 Years:	3%
3 Years:	3%
Last Year:	0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5	5	5	7	7	7	7	7	7	7	7	7
Reserves	544	630	688	733	755	764	812	912	916	981	1,079	1,140
	6	5	5	5	4	6	0	0	1	0	0	2
	29	62	83	88	89	84	103	83	76	92	110	116
Total Liabilities	584	702	781	833	856	861	923	1,003	1,000	1,081	1,196	1,265
	115	120	124	122	125	122	116	113	111	138	134	151
CWIP	0	0	0	0	0	0	0	0	0	0	4	0
Investments	386	473	541	613	617	625	687	796	807	872	962	1,006
	83	109	116	98	113	113	120	94	82	72	96	108
Total Assets	584	702	781	833	856	861	923	1,003	1,000	1,081	1,196	1,265

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	11	8	11	53	5	4	9	22	16	40	30	21
	-8	-6	-9	-54	-3	3	0	-13	-21	-35	-18	-30
	-3	-1	-1	-1	-3	-1	-9	-3	-2	-4	-3	-4
Net Cash Flow	1	1	1	-2	-1	6	1	7	-8	1	9	-12
Free Cash Flow	4	-3	0	46	-7	-2	13	16	10	4	24	-1
CFO/OP	40%	51%	42%	159%	30%	27%	46%	77%	54%	87%	67%	375%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	59	63	59	63	63	70	83	59	51	46	58	387
Inventory Days	44	51	58	53	54	66	59	48	38	41	30	383
Days Payable	75	101	166	164	154	166	198	151	110	128	133	946
Cash Conversion Cycle	28	14	-49	-48	-36	-31	-55	-44	-21	-42	-45	-177
Working Capital Days	103	78	107	99	98	98	142	38	41	25	36	465
ROCE %	5%	4%	5%	4%	2%	1%	3%	3%	4%	5%	5%	0%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Composite Products Revenue Share of Total Segment Revenue
%

xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xxx	xxx	xxx	xxx	xxx	xxx	xxx		xxx	xxx
	xx,xxx,xxx	xx,xxx,xxx		xx,xxx,xxx	xx,xxx,xxx				x,xxx,xxx
				xx.xx	xx.xx	xx.xx	xx.xx		xx.xx
							xx	xx	xx
								x.xx	x.xx

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Investment Portfolio Value (Treasury)
INR Crore

Customer Concentration in Manufacturing Segment
% of composite revenue

Permanent Employees
count

Combined Manufacturing Capacity
units per annum

Investment Portfolio Equity Share
%

Number of Customers Contributing >10% of Total Sales
count

Solar / Renewable Energy Installed Capacity
MWp

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%
	0.04%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	24.97%	24.98%	25.01%	25.00%	25.01%	25.00%	25.00%	25.01%	25.02%	25.02%	25.02%	24.99%
No. of Shareholders	15,329	15,483	15,406	15,573	16,173	15,378	15,341	15,207	15,154	14,838	14,690	14,936

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%	74.97%
	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%
	0.04%	0.03%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	24.99%	25.00%	25.01%	25.01%	24.99%	25.01%	25.01%	25.01%	25.00%	25.02%	24.99%
No. of Shareholders	14,176	16,615	16,253	15,535	13,890	14,986	14,695	15,406	15,341	14,690	14,936

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Hindustan Composites Ltd

Hindustan Composites Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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