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 ₹ 14,025 Cr.
- Current Price ₹ 48.6
- High / Low ₹ 60.2 / 48.0
- 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 / 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
- Shareholder Meeting / Postal Ballot-Scrutinizer''s Report
-
Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011
- Deutsche Bank disclosed encumbrance over 75.4% Horizon Industrial Parks shares for USD 480 million facility.
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011.
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
- Shareholder Meeting / Postal Ballot-Outcome of AGM
Concalls
-
Sep 2026Transcript
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]