Horizon Industrial Parks Ltd
Incorporated in 2009, Horizon Industrial Parks, backed by Blackstone Group, is India’s largest industrial and logistics infrastructure developer, owner, and operator by total network.[1]
- Market Cap ₹ 16,049 Cr.
- Current Price ₹ 55.7
- High / Low ₹ 60.2 / 53.7
- Stock P/E
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 3.18 %
- ROE -6.18 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 26.0 to 18.4 days.
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -10.8% over last 3 years.
* 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
Consumer Discretionary Realty Realty Residential, Commercial Projects
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 151 | 234 | 390 | 691 | |
| 132 | 97 | 100 | 160 | |
| Operating Profit | 19 | 137 | 290 | 531 |
| OPM % | 13% | 59% | 74% | 77% |
| 20 | 16 | 25 | 76 | |
| Interest | 131 | 194 | 353 | 539 |
| Depreciation | 67 | 98 | 143 | 266 |
| Profit before tax | -160 | -139 | -181 | -197 |
| Tax % | -5% | -0% | -1% | 3% |
| -151 | -139 | -179 | -204 | |
| EPS in Rs | -2.70 | -2.53 | -3.11 | -0.81 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| TTM: | 77% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -13% |
| TTM: | -18% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -11% |
| Last Year: | -6% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 536 | 536 | 536 | 2,450 |
| Reserves | 78 | 136 | 472 | 3,215 |
| 2,335 | 3,294 | 7,017 | 6,904 | |
| 226 | 324 | 1,811 | 927 | |
| Total Liabilities | 3,174 | 4,290 | 9,835 | 13,495 |
| 2,480 | 3,611 | 8,534 | 9,981 | |
| CWIP | 0 | 0 | 0 | 111 |
| Investments | 51 | 80 | 131 | 737 |
| 643 | 599 | 1,170 | 2,666 | |
| Total Assets | 3,174 | 4,290 | 9,835 | 13,495 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 89 | 129 | 235 | 464 | |
| -409 | -791 | -1,583 | -4,740 | |
| 376 | 716 | 1,458 | 4,638 | |
| Net Cash Flow | 56 | 54 | 110 | 362 |
| Free Cash Flow | 94 | 130 | 235 | 472 |
| CFO/OP | 498% | 96% | 80% | 90% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 20 | 31 | 28 | 18 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 20 | 31 | 28 | 18 |
| Working Capital Days | -321 | -234 | -1,547 | -208 |
| ROCE % | 2% | 3% | 3% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Horizon Industrial Parks announced Q1 FY27 results: revenue up 23% to Rs 2,005 million, EBITDA up 36%.
- Consolidated And Standalone Unaudited Financial Results Of The Company For The Quarter Ended June 30, 2026 Pursuant To Regulation 33 And Other Applicable Provisions Of SEBI (LODR) Regulations, 2015
-
Board Meeting Outcome for Outcome Of The Board Meeting Of Horizon Industrial Parks Limited (The 'Company')
- Board approved Q1 FY27 results; IPO of 43.34 crore shares listed Aug 24, plus 49% stake acquisition.
-
Copy Of Invitation To The Investors To Attend The Conference Call
- Investor conference call on September 11, 2026 at 5:00 p.m. for Q1FY27 results and business updates.
-
Outcome Of The Board Meeting Of Horizon Industrial Parks Limited ('The Company')
- Board approved Asheesh Mohta’s reappointment and fixed 17th AGM for September 30, 2026.
Business Overview[1]
Horizon Industrial Parks is an industrial and logistics infrastructure developer, owner, and operator focused on Grade A+ fulfilment centres, industrial facilities, and in-city logistics centres.
The company has built a pan-India network
of 45 assets across 10 major industrial and consumption hubs , with a Total Network of 58.58 msf as of May 2026.
The business is essentially a combination
of industrial real estate development and long-term leasing, with the company acquiring land, developing large-scale facilities, leasing to the customers, and actively managing the assets.
Its facilities are located near major consumption and manufacturing clusters, enabling customers to reduce logistics costs and shorten the time required to start operations.[2][3]