Hind Rectifiers Ltd
HRL manufactures power electronic equipment such as converters, inverters, propulsion system, rectifiers and railway transformation equipment like traction transformer for locomotive, motors, various types of panels for locomotive switch board cabinet, regulated battery charger, inverters and modular pantry. The manufacturing facilities are in Mumbai and Nasik, Maharashtra, and Dehradun, Uttarakhand, and its registered office is in Mumbai.
- Market Cap ₹ 1,608 Cr.
- Current Price ₹ 937
- High / Low ₹ 1,591 / 596
- Stock P/E 43.1
- Book Value ₹ 93.2
- Dividend Yield 0.13 %
- ROCE 21.7 %
- ROE 26.2 %
- Face Value ₹ 2.00
Pros
- Company's median sales growth is 17.4% of last 10 years
Cons
- Stock is trading at 10.0 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: Consumer Durables Industry: Electronics - Components
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
97 | 94 | 94 | 111 | 126 | 255 | 300 | 305 | 372 | 359 | 518 | 655 | |
100 | 96 | 92 | 107 | 116 | 229 | 262 | 285 | 349 | 344 | 473 | 585 | |
Operating Profit | -4 | -2 | 2 | 5 | 10 | 26 | 38 | 20 | 23 | 15 | 45 | 70 |
OPM % | -4% | -3% | 2% | 4% | 8% | 10% | 13% | 7% | 6% | 4% | 9% | 11% |
0 | 0 | 1 | -7 | 0 | 1 | 0 | 0 | 0 | -10 | -6 | 1 | |
Interest | 2 | 2 | 3 | 5 | 6 | 8 | 8 | 9 | 7 | 8 | 13 | 13 |
Depreciation | 2 | 1 | 2 | 2 | 2 | 3 | 4 | 4 | 4 | 5 | 7 | 8 |
Profit before tax | -7 | -6 | -2 | -10 | 2 | 17 | 26 | 7 | 11 | -9 | 18 | 50 |
Tax % | -30% | -40% | -31% | -27% | 35% | 29% | 30% | 28% | 30% | -27% | 29% | 26% |
-5 | -4 | -2 | -7 | 1 | 12 | 18 | 5 | 8 | -6 | 13 | 37 | |
EPS in Rs | -2.97 | -2.15 | -0.91 | -4.29 | 0.79 | 7.12 | 11.16 | 3.22 | 4.71 | -3.71 | 7.30 | 21.72 |
Dividend Payout % | -6% | 0% | 0% | 0% | 0% | 6% | 7% | 12% | 8% | 0% | 16% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 21% |
5 Years: | 17% |
3 Years: | 21% |
TTM: | 27% |
Compounded Profit Growth | |
---|---|
10 Years: | 29% |
5 Years: | 15% |
3 Years: | 69% |
TTM: | 115% |
Stock Price CAGR | |
---|---|
10 Years: | 30% |
5 Years: | 50% |
3 Years: | 69% |
1 Year: | 31% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 13% |
3 Years: | 16% |
Last Year: | 26% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
Reserves | 63 | 60 | 59 | 50 | 63 | 75 | 92 | 96 | 104 | 108 | 121 | 157 |
23 | 26 | 32 | 41 | 51 | 64 | 90 | 84 | 75 | 105 | 135 | 164 | |
25 | 26 | 30 | 19 | 35 | 43 | 57 | 57 | 64 | 76 | 71 | 93 | |
Total Liabilities | 113 | 116 | 123 | 113 | 153 | 185 | 243 | 241 | 246 | 292 | 331 | 418 |
16 | 18 | 21 | 20 | 27 | 26 | 33 | 41 | 48 | 80 | 90 | 112 | |
CWIP | 0 | 1 | 2 | 5 | 4 | 14 | 18 | 20 | 28 | 21 | 22 | 7 |
Investments | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 0 | 0 | 0 | 0 | 0 |
97 | 96 | 101 | 88 | 121 | 144 | 185 | 180 | 170 | 192 | 219 | 298 | |
Total Assets | 113 | 116 | 123 | 113 | 153 | 185 | 243 | 241 | 246 | 292 | 331 | 418 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-1 | 2 | 5 | -3 | -4 | 6 | 4 | 22 | 36 | 33 | 34 | 36 | |
-1 | -3 | -5 | -4 | -10 | -10 | -22 | -8 | -20 | -29 | -19 | -25 | |
-1 | 0 | 3 | 4 | 15 | 3 | 19 | -15 | -17 | -4 | -14 | -11 | |
Net Cash Flow | -3 | -0 | 4 | -3 | 1 | -1 | 1 | -1 | -0 | 0 | 0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 200 | 221 | 174 | 117 | 161 | 90 | 99 | 105 | 66 | 69 | 63 | 61 |
Inventory Days | 147 | 117 | 180 | 126 | 143 | 106 | 121 | 106 | 97 | 121 | 92 | 92 |
Days Payable | 89 | 97 | 124 | 57 | 115 | 65 | 69 | 65 | 60 | 69 | 45 | 46 |
Cash Conversion Cycle | 258 | 241 | 230 | 185 | 188 | 132 | 151 | 146 | 104 | 120 | 110 | 107 |
Working Capital Days | 243 | 228 | 224 | 172 | 192 | 120 | 141 | 145 | 103 | 116 | 100 | 100 |
ROCE % | -6% | -4% | 1% | 3% | 8% | 19% | 21% | 9% | 10% | 5% | 16% | 22% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Investor Presentation 4m
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
21m - Hind Rectifiers reports 197% PAT growth FY25, INR 893 Cr order book, INR 43 Cr capex, new subsidiaries formed.
-
Board Meeting Outcome for Outcomes Of The Board Meeting Dated 05.05.2025
3h - Approved FY25 audited results; recommended Rs 2 dividend; 52 Cr Sinnar plant expansion; 50 Cr land acquisition; new subsidiary planned.
-
Board Meeting Outcome for Outcomes Of The Board Meeting Dated 05.05.2025
4h - FY25 audited results: ₹65.5K lakh revenue, ₹3,727 lakh profit; ₹52 crore Sinnar plant expansion; ₹50 crore land acquisition; ₹2/share dividend recommended.
-
Audited Financial Results
4h - Approved FY25 results; Rs.52 Cr Sinnar plant expansion; Rs.50 Cr land acquisition; Rs.2/share dividend recommended.
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
Product Portfolio
The Company is engaged in developing, designing, manufacturing, and marketing Power Semiconductor, Power Electronic Equipments, and Railway Transportation Equipments such as: