HVAX Technologies Ltd
Established in 2010, HVAX Technologies Limited provides turnkey engineering, procurement, and execution of controlled environment and cleanroom infrastructure, design, engineering, and consulting services to pharmaceutical and healthcare companies.[1]
- Market Cap ₹ 211 Cr.
- Current Price ₹ 760
- High / Low ₹ 1,029 / 618
- Stock P/E 14.8
- Book Value ₹ 311
- Dividend Yield 0.00 %
- ROCE 19.7 %
- ROE 18.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 31.3% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.7.06 Cr.
- Company has high debtors of 193 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.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 44 | 61 | 68 | 96 | 106 | 131 | 160 | |
| 41 | 55 | 61 | 87 | 93 | 112 | 144 | |
| Operating Profit | 3 | 5 | 7 | 9 | 13 | 19 | 16 |
| OPM % | 7% | 9% | 10% | 9% | 12% | 14% | 10% |
| 1 | 1 | 1 | 0 | 1 | 0 | 7 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 | 3 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 2 | 1 |
| Profit before tax | 3 | 5 | 6 | 7 | 11 | 15 | 19 |
| Tax % | 25% | 29% | 25% | 26% | 25% | 26% | 25% |
| 2 | 4 | 4 | 5 | 9 | 11 | 14 | |
| EPS in Rs | 30.96 | 60.30 | 67.76 | 84.29 | 125.00 | 39.76 | 51.50 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 19% |
| TTM: | 22% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 40% |
| TTM: | 30% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 22% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 22% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.62 | 0.62 | 0.62 | 0.62 | 0.68 | 3 | 3 |
| Reserves | 5 | 7 | 11 | 17 | 30 | 69 | 84 |
| 11 | 7 | 10 | 17 | 24 | 28 | 40 | |
| 11 | 22 | 32 | 44 | 8 | 22 | 25 | |
| Total Liabilities | 28 | 37 | 54 | 78 | 64 | 122 | 151 |
| 7 | 10 | 8 | 7 | 9 | 8 | 7 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 1 | 0 | 1 | 0 | 0 | 1 |
| 20 | 26 | 45 | 70 | 54 | 114 | 143 | |
| Total Assets | 28 | 37 | 54 | 78 | 64 | 122 | 151 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 2 | 8 | -1 | -4 | -12 | -22 | -14 | |
| -1 | -4 | 2 | -0 | -2 | 0 | -1 | |
| -1 | -4 | 2 | 6 | 10 | 31 | 9 | |
| Net Cash Flow | 0 | -1 | 3 | 2 | -4 | 10 | -6 |
| Free Cash Flow | 2 | 4 | 0 | -4 | -15 | -22 | -14 |
| CFO/OP | 80% | 169% | 9% | -21% | -71% | -102% | -54% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 92 | 98 | 106 | 124 | 86 | 199 | 193 |
| Inventory Days | 26 | 24 | 130 | 114 | 109 | 95 | 144 |
| Days Payable | 92 | 77 | 74 | 53 | 32 | 72 | 72 |
| Cash Conversion Cycle | 25 | 45 | 162 | 184 | 162 | 222 | 265 |
| Working Capital Days | 7 | -8 | 1 | 10 | 67 | 146 | 165 |
| ROCE % | 36% | 32% | 27% | 28% | 22% | 20% |
Insights
In beta| Mar 2010 | Mar 2016 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Fixed Asset Turnover Ratio Times |
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Extracted by Screener AI
Documents
Announcements
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Change in Management
22 May 2026 - Board appointed Rajendra Prasad Kharita CFO; approved FY26 audited results and RPTs up to Rs75 crore for FY27.
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Appointment
22 May 2026 - Board approved CFO appointment, FY26 audited results, and RPTs up to Rs 75 crore and Rs 2 crore.
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Outcome of Board Meeting
22 May 2026 - On May 22, 2026, HVAX appointed a new CFO, approved FY26 audited results, and acquired 80% of Krew Instruments.
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Change in Management
21 May 2026 - Mr. Siddharth Rajendrakumar Patel resigned as CFO effective May 21, 2026, citing pre-occupation.
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General Updates
30 April 2026 - HVAX Technologies Limited has informed about General Updates
Annual reports
Concalls
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Nov 2025TranscriptPPT
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Sep 2025TranscriptAI SummaryPPT
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May 2025TranscriptPPTREC
Business Profile[1] The company supplies a range of products manufactured by third parties, including cleanroom wall and ceiling panels, covings, riser panels, cleanroom doors, flooring systems, pass boxes, air showers, LT/HT electrical panels, prefabricated galvanized iron (GI) ducts, air handling units, chillers, Building Management Systems (BMS) equipment, and utility generation and distribution equipment.