Hindustan Composites Ltd

AI

Hindustan Composites Ltd

₹ 409 -0.12%
18 Aug - close price
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.

  • Market Cap 598 Cr.
  • Current Price 409
  • High / Low 550 / 346
  • Stock P/E 34.2
  • Book Value 775
  • Dividend Yield 0.49 %
  • ROCE 0.48 %
  • ROE 0.42 %
  • Face Value 5.00

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 2.59% 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 384 days.
  • Working capital days have increased from 170 days to 452 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
153 166 199 197 178 185 233 283 298 325 60 221
123 129 165 173 160 158 199 242 246 266 51 191
Operating Profit 30 37 34 24 18 26 33 41 52 59 9 30
OPM % 20% 22% 17% 12% 10% 14% 14% 14% 17% 18% 15% 14%
-2 1 0 2 0 6 0 1 0 -4 26 13
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 7 8 9 9 10 9 9 9 10 10 4 8
Profit before tax 22 30 26 17 9 24 25 33 43 45 32 36
Tax % 15% 23% 11% -5% -20% 16% 13% 16% 19% 22% 2%
19 23 23 18 10 20 22 27 34 35 31 32
EPS in Rs 12.61 15.68 15.58 11.88 7.09 13.35 14.63 18.60 23.30 23.70 21.06 21.90
Dividend Payout % 3% 1% 3% 17% 28% 15% 14% 11% 9% 8% 24%
Compounded Sales Growth
10 Years: -9%
5 Years: -20%
3 Years: -40%
TTM: -16%
Compounded Profit Growth
10 Years: -13%
5 Years: -21%
3 Years: -45%
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

Consolidated Figures in Rs. Crores / View Standalone

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 7 7 7 7 7 7 7 7 7
Reserves 627 683 725 746 754 810 910 913 979 1,077 1,138
5 5 5 4 6 0 0 1 0 0 2
62 84 88 89 84 105 85 78 94 112 117
Total Liabilities 699 776 825 847 851 922 1,002 1,000 1,081 1,196 1,264
120 124 122 125 122 116 113 111 138 134 151
CWIP 0 0 0 0 0 0 0 0 0 4 0
Investments 470 536 605 608 616 687 796 807 872 962 1,006
109 116 98 113 113 119 93 82 71 96 107
Total Assets 699 776 825 847 851 922 1,002 1,000 1,081 1,196 1,264

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6 10 50 3 3 9 22 16 40 30 21
-4 -8 -52 -2 5 0 -13 -21 -35 -18 -30
-1 -1 -1 -3 -1 -9 -3 -2 -4 -3 -4
Net Cash Flow 1 1 -2 -1 6 1 7 -8 1 9 -12
Free Cash Flow -5 -2 43 -8 -4 13 16 10 4 24 -1
CFO/OP 44% 39% 164% 26% 20% 52% 86% 58% 92% 70% 375%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 63 59 63 63 70 82 58 51 45 57 384
Inventory Days 51 58 53 54 66 59 48 38 41 30 383
Days Payable 101 166 164 153 169 205 157 115 133 138 977
Cash Conversion Cycle 14 -49 -48 -36 -34 -64 -51 -26 -47 -50 -211
Working Capital Days 78 107 99 98 96 138 35 39 22 34 452
ROCE % 5% 4% 2% 1% 2% 3% 4% 5% 5% 0%

Insights

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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
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Investment Portfolio Value (Treasury)
INR Crore ・Standalone data
Customer Concentration in Manufacturing Segment
% of composite revenue ・Standalone data
Permanent Employees
count ・Standalone data
Combined Manufacturing Capacity
units per annum ・Standalone data
Investment Portfolio Equity Share
% ・Standalone data
Number of Customers Contributing >10% of Total Sales
count ・Standalone data
Solar / Renewable Energy Installed Capacity
MWp ・Standalone data

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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 15,32915,48315,40615,57316,17315,37815,34115,20715,15414,83814,69014,936

* 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.

Click on the line-items to see the names of individual entities.

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