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 ₹ 3,018 Cr.
- Current Price ₹ 878
- High / Low ₹ 1,054 / 492
- Stock P/E 58.9
- Book Value ₹ 55.3
- Dividend Yield 0.11 %
- ROCE 21.6 %
- ROE 25.6 %
- Face Value ₹ 2.00
Pros
- Company is expected to give good quarter
Cons
- Stock is trading at 15.9 times its book value
- Company might be capitalizing the interest cost
* 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
Industrials Capital Goods Industrial Manufacturing Industrial Products
Part of BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|
| 518 | 655 | 904 | |
| 473 | 585 | 809 | |
| Operating Profit | 45 | 71 | 96 |
| OPM % | 9% | 11% | 11% |
| -6 | 1 | -0 | |
| Interest | 13 | 14 | 16 |
| Depreciation | 7 | 8 | 12 |
| Profit before tax | 18 | 50 | 67 |
| Tax % | 29% | 26% | |
| 13 | 37 | 50 | |
| EPS in Rs | 3.65 | 10.82 | 14.60 |
| Dividend Payout % | 16% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 45% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 59% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 39% |
| 5 Years: | 67% |
| 3 Years: | 100% |
| 1 Year: | 71% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 26% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|
| Equity Capital | 3 | 3 | 3 |
| Reserves | 121 | 156 | 187 |
| 135 | 164 | 208 | |
| 71 | 93 | 107 | |
| Total Liabilities | 331 | 417 | 505 |
| 90 | 107 | 112 | |
| CWIP | 22 | 12 | 54 |
| Investments | 0 | 0 | 0 |
| 219 | 298 | 338 | |
| Total Assets | 331 | 417 | 505 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| 34 | 36 | |
| -19 | -25 | |
| -14 | -11 | |
| Net Cash Flow | 0 | -0 |
| Free Cash Flow | 20 | 14 |
| CFO/OP | 76% | 62% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2024 | Mar 2025 | |
|---|---|---|
| Debtor Days | 63 | 61 |
| Inventory Days | 92 | 92 |
| Days Payable | 45 | 46 |
| Cash Conversion Cycle | 110 | 107 |
| Working Capital Days | 24 | 25 |
| ROCE % | 22% |
Insights
In beta| Mar 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Order Book INR Cr |
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| Capital Expenditure INR Cr ・Standalone data |
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| Number of Permanent Employees Count |
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| Working Capital Days Days |
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| Cumulative Units of ESP Transformers & Rectifiers Units |
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| Market Share in Railway Traction Products (Estimated) % ・Standalone data |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Update on board meeting
3m - Board on May 16, 2026 will consider preferential equity issue alongside FY26 results and dividend.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4h - Intimation on Earnings Conference Call to discuss the financial and operational performance for Q4 & FY26.
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Board Meeting Intimation for Audited Standalone And Consolidated Financial Results For The Quarter And Year Ended March 31, 2026 And Declaration Of Dividend.
4h - Board meeting on May 16, 2026 to approve audited FY26 results and consider dividend.
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
29 Apr - Intimation of allotment of 4625 equity shares pursuant to exercise of stock options by the options grantees under the Company''s Stock Option Plan.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Apr - Public notice in respect of equity shares which are liable to be transferred to the Investor Education and Protection Fund Account.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from bse
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Financial Year 2011
from nse
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025TranscriptAI SummaryPPT
Company Overview[1]
Established in 1958 in collaboration with Westinghouse Brake & Signal Co. Ltd (UK), Hind Rectifiers specializes in design, manufacturing, and supply of electrical and electronic equipment. Its core focus lies in power conversion products, catering primarily to the railway and industrial sectors.