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 ₹ 262 Cr.
- Current Price ₹ 945
- High / Low ₹ 1,029 / 462
- Stock P/E 23.8
- Book Value ₹ 259
- Dividend Yield 0.00 %
- ROCE 22.5 %
- ROE 21.5 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 42.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 27.9%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has high debtors of 199 days.
- Working capital days have increased from 142 days to 218 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.
Peer comparison
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 44 | 61 | 68 | 96 | 106 | 131 | |
| 41 | 55 | 61 | 87 | 92 | 112 | |
| Operating Profit | 3 | 5 | 7 | 9 | 14 | 19 |
| OPM % | 7% | 9% | 10% | 9% | 13% | 14% |
| 1 | 1 | 1 | 0 | 1 | 0 | |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 3 | 5 | 6 | 7 | 13 | 15 |
| Tax % | 25% | 29% | 25% | 26% | 25% | 26% |
| 2 | 4 | 4 | 5 | 9 | 11 | |
| EPS in Rs | 30.96 | 60.30 | 67.76 | 84.29 | 137.76 | 39.76 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 24% |
| 3 Years: | 24% |
| TTM: | 24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 42% |
| 3 Years: | 40% |
| TTM: | 25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 31% |
| 3 Years: | 28% |
| Last Year: | 22% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.62 | 0.62 | 0.62 | 0.62 | 0.68 | 3 |
| Reserves | 5 | 7 | 11 | 17 | 30 | 69 |
| 11 | 7 | 10 | 17 | 24 | 28 | |
| 11 | 22 | 32 | 44 | 9 | 22 | |
| Total Liabilities | 28 | 37 | 54 | 78 | 64 | 122 |
| 7 | 10 | 8 | 7 | 9 | 8 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 1 | 1 | 0 | 1 | 0 | 0 |
| 20 | 26 | 45 | 70 | 54 | 114 | |
| Total Assets | 28 | 37 | 54 | 78 | 64 | 122 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 2 | 8 | -1 | -4 | -12 | -22 | |
| -1 | -4 | 2 | -0 | -2 | 0 | |
| -1 | -4 | 2 | 6 | 10 | 31 | |
| Net Cash Flow | 0 | -1 | 3 | 2 | -4 | 10 |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 92 | 98 | 106 | 124 | 86 | 199 |
| Inventory Days | 26 | 24 | 130 | 114 | 109 | 95 |
| Days Payable | 92 | 77 | 74 | 53 | 32 | 72 |
| Cash Conversion Cycle | 25 | 45 | 162 | 184 | 162 | 222 |
| Working Capital Days | 29 | 3 | 38 | 67 | 141 | 218 |
| ROCE % | 36% | 32% | 27% | 30% | 22% |
Documents
Announcements
- Structural Digital Database 21 July 2025
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
15 July 2025 - Certificate confirming securities dematerialization compliance for quarter ended June 30, 2025.
-
Analysts/Institutional Investor Meet/Con. Call Updates
11 July 2025 - HVAX Technologies Limited has informed about Outcome
-
Analysts/Institutional Investor Meet/Con. Call Updates
7 July 2025 - HVAX Technologies Limited has informed about Schedule of meet
-
Disclosure under SEBI Takeover Regulations
26 June 2025 - Promoters hold 66.65% shares; no encumbrance during FY ended March 31, 2025.
Annual reports
No data available.
Concalls
-
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.