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Hanman Fit Overview

1. Business Overview

Hanman Fit Ltd. (Ticker: HANMAN) operates in the amusement, recreation, and club sector in India. Its core business model involves developing, managing, and operating facilities that offer leisure and entertainment services. This typically includes amusement parks, recreational centers, and various types of clubs (e.g., sports clubs, social clubs). The company generates revenue primarily through direct charges such as entry tickets, membership fees, pay-per-use services, food and beverage sales, merchandise, and potentially hosting events or corporate bookings within its premises.

2. Key Segments / Revenue Mix

Specific breakdowns of key segments or revenue mix for Hanman Fit Ltd. are not available from the provided information. However, based on its sector, potential revenue streams would likely include:

Admission/Membership Fees: From amusement park entries, club memberships, or day passes for recreational facilities.

Food & Beverage (F&B): Sales within the parks, clubs, and recreational centers.

Merchandise & Retail: Sales of branded items, souvenirs, or other goods.

Events & Rentals: Income from hosting private events, parties, or corporate functions.

Ancillary Services: Revenue from specific rides, games, locker rentals, or parking.

3. Industry & Positioning

The amusement parks, recreation, and club industry in India is characterized by a mix of organized players and numerous local, unorganized entities. It is influenced by factors like disposable income, urbanization, and domestic tourism trends. The industry can be capital-intensive, requiring significant investment in land, infrastructure, and attractions. Competition can be localized, with companies vying for discretionary spending. Without specific details, Hanman Fit Ltd.'s positioning could range from being a niche player targeting specific demographics (e.g., family entertainment, adventure sports, luxury clubs) to a broader player with multiple types of facilities. Its success likely depends on location, uniqueness of offerings, and service quality relative to local and regional competitors.

4. Competitive Advantage (Moat)

Given the limited information, specific durable competitive advantages for Hanman Fit Ltd. cannot be definitively stated. However, in the amusement and recreation sector, potential moats can include:

Brand Recognition: A strong, trusted brand can attract repeat visitors and command premium pricing.

Strategic Location: Owning or securing prime land in high-traffic or easily accessible areas near urban centers is a significant advantage.

High Switching Costs: For club memberships, social ties and established routines can make switching difficult.

Scale/Network Effects: For larger operators, having multiple parks or facilities can offer economies of scale in marketing and operations, although this is less common for individual facilities.

Unique Attractions/Experiences: Proprietary rides or unique themed experiences can differentiate a park.

Whether Hanman Fit Ltd. possesses any of these specific moats would require further analysis.

5. Growth Drivers

Key factors that could drive growth for Hanman Fit Ltd. over the next 3-5 years include:

Rising Disposable Incomes: Increased discretionary spending among the Indian middle class on leisure and entertainment.

Urbanization & Population Growth: Growing urban populations create a larger customer base for local recreational facilities.

Domestic Tourism: Growth in intra-state and inter-state tourism can boost footfall at popular amusement and recreational sites.

Expansion & Diversification: Opening new parks, clubs, or expanding existing facilities with new attractions or services.

Event Hosting & Corporate Bookings: Leveraging facilities for corporate events, school trips, or private parties.

Technological Integration: Adopting technology for better customer experience (e.g., online booking, digital payments, loyalty programs).

6. Risks

Hanman Fit Ltd. faces several business risks inherent to its sector:

Seasonality & Weather Dependence: Revenue can be highly seasonal, heavily impacted by monsoons, extreme heat, or other adverse weather conditions.

Economic Downturns: Discretionary spending on leisure is often among the first to be cut during economic slowdowns, impacting footfall and revenue.

High Capital Expenditure: Development and maintenance of amusement parks and clubs require substantial ongoing investment.

Regulatory & Safety Risks: Strict regulations concerning safety standards, licenses, and environmental compliance can lead to operational challenges and costs.

Competition: Intense competition from existing players, new entrants, and alternative entertainment options (e.g., malls, cinemas, digital entertainment).

Health & Safety Concerns: Incidents related to ride safety or public health crises (like pandemics) can severely impact visitor confidence and operations.

Land Acquisition & Real Estate Costs: Securing suitable land at reasonable costs for expansion or new projects can be challenging in India.

7. Management & Ownership

Information regarding the specific promoters, management quality, and ownership structure of Hanman Fit Ltd. is not available. In Indian context, promoters typically refer to the founding shareholders or controlling family groups. Management quality would depend on their experience in the leisure and hospitality sector, strategic vision, and operational execution capabilities. Ownership structure often involves a significant stake held by the promoter group, along with institutional and public shareholdings, typical for a publicly listed company on an Indian exchange.

8. Outlook

Hanman Fit Ltd. operates in a sector with significant long-term potential in India, driven by increasing disposable incomes, a young population, and growing urbanization. The company stands to benefit from the rising trend of domestic tourism and demand for leisure and entertainment options. However, the industry is capital-intensive, subject to seasonal fluctuations, and vulnerable to economic cycles and unforeseen events (like health crises). Success will hinge on its ability to offer unique and compelling experiences, maintain high safety standards, manage costs effectively, and strategically expand its footprint. The company's future performance will largely depend on its execution capabilities, ability to differentiate its offerings, and resilience against competitive pressures and economic headwinds.

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Hanman Fit Key Financials

Market Cap ₹4 Cr.

Stock P/E -5.2

P/B 2.6

Current Price ₹4.1

Book Value ₹ 1.6

Face Value 10

52W High ₹6.6

Dividend Yield 0%

52W Low ₹ 3.1

Hanman Fit Share Price

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Volume
Price

Hanman Fit Quarterly Price

Show Value Show %

Hanman Fit Quarterly Results

#(Fig in Cr.) Mar 2017 Sep 2017
Net Sales 2 2
Other Income 0 0
Total Income 2 2
Total Expenditure 3 2
Operating Profit -1 -0
Interest 0 0
Depreciation 2 1
Exceptional Income / Expenses 0 0
Profit Before Tax -3 -1
Provision for Tax 0 0
Profit After Tax -3 -1
Adjustments 3 1
Profit After Adjustments 0 0
Adjusted Earnings Per Share -3.8 -1.1

Hanman Fit Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 9 11 10 5 3 1 1 0 0 0 0 4
Other Income 1 0 0 1 0 0 0 0 0 1 0 0
Total Income 10 11 10 6 3 1 1 0 0 1 0 4
Total Expenditure 9 11 11 6 5 4 2 0 0 0 1 5
Operating Profit 1 1 -1 0 -2 -3 -1 -0 0 1 -1 -1
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 2 0 1 1 0 0 0 0 0 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 -3 -1 -3 -4 -2 -0 -0 0 -1 -4
Provision for Tax 0 0 0 0 0 0 0 0 0 -0 0 0
Profit After Tax 0 -0 -3 -1 -3 -4 -2 -0 -0 1 -1 -4
Adjustments 0 0 0 0 0 0 0 0 0 0 0 4
Profit After Adjustments 0 -0 -3 -1 -3 -4 -2 -0 -0 1 -1 0
Adjusted Earnings Per Share 0.1 -0.4 -4.7 -0.5 -2.6 -3.6 -1.7 -0.5 -0.1 0.6 -0.8 -4.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% 0% -100% -100%
Operating Profit CAGR -200% 0% 0% NAN%
PAT CAGR -200% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -36% 30% 18% -17%
ROE Average -39% -5% -18% -20%
ROCE Average -34% -11% -18% -18%

Hanman Fit Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 12 12 8 11 8 4 2 2 2 2 2
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 1 1 1 0 1 1 1 1 1 1 0
Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0
Total Current Liabilities 2 2 2 2 4 3 2 2 1 0 1
Total Liabilities 15 15 11 14 13 7 6 5 4 3 3
Fixed Assets 5 7 6 6 5 3 2 2 2 2 1
Other Non-Current Assets 1 2 1 3 2 2 2 1 0 1 1
Total Current Assets 8 6 4 6 5 3 2 2 2 0 0
Total Assets 15 15 11 14 13 7 6 5 4 3 3

Hanman Fit Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 2 1 0 -0 0 0 -0 0 0
Cash Flow from Operating Activities -3 5 0 -2 -1 -2 -1 -0 0 0 1
Cash Flow from Investing Activities -3 -3 -1 -1 -0 2 1 0 0 0 -0
Cash Flow from Financing Activities 7 -0 -0 3 0 -0 1 0 -0 -0 -1
Net Cash Inflow / Outflow 0 1 -1 -1 -0 0 0 -0 -0 0 0
Closing Cash & Cash Equivalent 0 2 1 0 -0 0 0 -0 -0 0 0

Hanman Fit Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.12 -0.39 -4.73 -0.48 -2.59 -3.58 -1.74 -0.47 -0.14 0.63 -0.78
CEPS(Rs) 0.99 0.41 -1.64 -0.04 -1.63 -3.05 -1.43 -0.22 0.07 0.97 -0.53
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 16.36 15.99 11.27 10.25 7.66 4.08 2.34 1.88 1.74 2.37 1.59
Core EBITDA Margin(%) 1 5.8 -15.34 -14.7 -66.17 -267.72 -284.1 0 0 -61.11 -2312.13
EBIT Margin(%) 5 3.03 -33.11 -8.35 -88.38 -314.33 -332.13 0 0 97.68 -2690.16
Pre Tax Margin(%) 1.89 1.31 -34.74 -10.25 -89.08 -315.4 -332.63 0 0 97.58 -2691.15
PAT Margin (%) 0.97 -2.52 -34.74 -10.25 -89.08 -315.4 -332.63 0 0 335.26 -2691.15
Cash Profit Margin (%) 8.04 2.65 -12.09 -0.91 -56.21 -268.62 -274.14 0 0 514.01 -1813.77
ROA(%) 0.82 -1.91 -26.51 -4.05 -20.74 -37.59 -27.69 -9.28 -3.26 17.87 -27.67
ROE(%) 1.08 -2.4 -34.69 -5.3 -28.88 -61.05 -54.06 -22.06 -7.63 30.82 -39.44
ROCE(%) 4.79 2.68 -30.98 -4.1 -26.74 -54.63 -43.29 -14.25 -4.79 6.44 -33.73
Receivable days 0.78 0.6 0.64 0 0 0 0 0 0 0 0
Inventory Days 0 0 0 46.66 74.88 191.32 270.58 0 0 0 0
Payable days 0 0 0 0 0 0 1537.09 4782.52 4328.71 1202.3 0
PER(x) 222.93 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 1.63 1.91 0.83 0.56 0.59 0 0.81 1.6 1.23 0 2.31
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 2.23 1.9 0.67 1.31 1.9 9.2 5.67 0 0 55.59 117.75
EV/Core EBITDA(x) 18.5 23.14 -6.4 131.22 -3.43 -3.44 -2.07 -19.28 41.95 20.11 -6.5
Net Sales Growth(%) 133.53 24.58 -11.64 -50.39 -37.68 -60.86 -54.07 -100 0 0 -84.63
EBIT Growth(%) 40.28 -24.46 -1065.18 87.49 -559.75 -39.2 51.47 73.23 70.31 234.06 -523.16
PAT Growth(%) 4.55 -424.54 -1117.94 85.36 -441.52 -38.57 51.57 73.19 70.34 559.17 -223.34
EPS Growth(%) -38.21 -424.56 -1117.94 89.9 -441.52 -38.57 51.57 73.19 70.35 559.28 -223.34
Debt/Equity(x) 0.08 0.07 0.07 0.04 0.11 0.12 0.47 0.63 0.55 0.28 0
Current Ratio(x) 4.94 3.03 1.55 2.27 1.46 1.08 1.08 1.16 1.36 0.81 0.34
Quick Ratio(x) 4.94 3.03 1.55 2.01 1.29 0.85 0.99 1.1 1.24 0.81 0.34
Interest Cover(x) 1.61 1.76 -20.28 -4.39 -125.3 -292.51 -667.22 -309.87 -477.18 969.5 -2735
Total Debt/Mcap(x) 0.05 0.04 0.08 0.07 0.19 0 0.58 0.39 0.45 0 0

Hanman Fit Shareholding Pattern

# Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
Promoter 56 56 56 55.76 54.04 54.04 54.04 54.04 54.04 54.04
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 44 44 44 44.24 45.96 45.96 45.96 45.96 45.96 45.96
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Hanman Fit News

Hanman Fit Pros & Cons

Pros

  • Debtor days have improved from 1202.3 to 0days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of -5% over the last 3 years.
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