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HBL Engineering Overview

HBL Power Systems Ltd is engaged inside the commercial enterprise of manufacturing batteries. The Company's segments comprises Batteries and Electronics. The Batteries and Electronics segment includes various forms of merchandise for defense, aviation, telecom and commercial application. Its merchandise consists of batteries, which include Lead Acid Batteries, Nickel-Cadmium Batteries and Specialized Defense Batteries; Power Electronics, which incorporates Thyristor Battery Charger, Switch Mode Rectifiers, Battery Monitoring System and Earth Le...Read More

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HBL Engineering Key Financials

Market Cap ₹21366 Cr.

Stock P/E 77.2

P/B 9.7

Current Price ₹770.8

Book Value ₹ 79.5

Face Value 1

52W High ₹1122

Dividend Yield 0.13%

52W Low ₹ 404.3

HBL Engineering Share Price

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Volume
Price

HBL Engineering Quarterly Price

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HBL Engineering Peer Comparison

HBL Engineering Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 557 599 610 520 521 451 476 602 1223 874
Other Income 3 5 7 5 12 2 7 20 16 11
Total Income 560 605 617 526 533 452 482 621 1239 885
Total Expenditure 456 486 479 410 412 357 396 410 679 572
Operating Profit 104 118 138 116 121 95 86 212 560 313
Interest 3 3 4 2 3 5 4 6 3 3
Depreciation 10 11 11 11 11 11 11 12 12 12
Exceptional Income / Expenses -0 -3 -25 -0 0 -0 -1 -3 -24 -1
Profit Before Tax 91 102 98 103 107 79 71 191 520 297
Provision for Tax 24 23 32 27 31 21 18 49 133 80
Profit After Tax 67 78 66 76 76 58 52 141 387 218
Adjustments 2 1 16 4 11 6 -7 2 -0 3
Profit After Adjustments 69 79 81 80 87 65 45 143 387 221
Adjusted Earnings Per Share 2.5 2.9 2.9 2.9 3.1 2.3 1.6 5.2 14 8

HBL Engineering 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 1350 1299 1414 1603 1266 1092 912 1236 1369 2233 1967 3175
Other Income 22 13 18 24 13 17 10 14 18 18 27 54
Total Income 1372 1312 1432 1627 1279 1108 922 1251 1386 2251 1994 3227
Total Expenditure 1211 1164 1286 1477 1169 1011 845 1097 1217 1810 1576 2057
Operating Profit 161 148 146 150 110 97 77 153 169 441 418 1171
Interest 71 68 46 41 31 22 15 7 7 13 13 16
Depreciation 53 51 48 46 44 41 39 35 35 41 44 47
Exceptional Income / Expenses -13 -2 3 -10 7 5 -5 11 1 -28 -1 -29
Profit Before Tax 24 27 54 55 43 40 19 122 130 377 374 1079
Provision for Tax 10 12 16 23 15 14 6 29 31 96 97 280
Profit After Tax 14 15 38 32 28 26 14 94 98 280 276 798
Adjustments 0 0 0 0 0 0 0 0 0 1 0 -2
Profit After Adjustments 14 15 38 32 28 26 14 94 99 281 277 796
Adjusted Earnings Per Share 0.6 0.6 1.4 1.1 1 0.9 0.5 3.4 3.6 10.1 10 28.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -12% 17% 12% 4%
Operating Profit CAGR -5% 40% 34% 10%
PAT CAGR -1% 43% 60% 35%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 46% 99% 86% 35%
ROE Average 20% 19% 14% 8%
ROCE Average 27% 25% 19% 13%

HBL Engineering 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 565 609 729 752 766 773 782 866 951 1221 1483
Minority's Interest 0 -1 -2 -2 0 0 0 0 0 -1 -0
Borrowings 201 107 28 6 7 1 11 28 39 23 6
Other Non-Current Liabilities 21 19 16 17 14 22 24 23 18 45 65
Total Current Liabilities 800 735 725 613 424 358 238 262 347 483 640
Total Liabilities 1587 1468 1496 1386 1212 1154 1054 1178 1355 1772 2193
Fixed Assets 456 416 417 363 321 304 279 265 320 354 397
Other Non-Current Assets 70 89 73 67 73 56 97 120 102 202 364
Total Current Assets 1060 964 1006 934 802 774 659 792 933 1215 1432
Total Assets 1587 1468 1496 1386 1212 1154 1054 1178 1355 1772 2193

HBL Engineering 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 22 22 17 6 7 12 41 26 50 132 223
Cash Flow from Operating Activities 79 158 43 159 167 149 121 62 122 270 239
Cash Flow from Investing Activities -13 -10 60 -8 1 -6 -32 -17 -50 -137 -320
Cash Flow from Financing Activities -66 -153 -114 -149 -163 -114 -104 -22 10 -42 -26
Net Cash Inflow / Outflow -0 -5 -11 1 5 29 -14 23 82 91 -107
Closing Cash & Cash Equivalent 21 17 6 7 12 41 26 50 132 223 117

HBL Engineering 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) 0.56 0.59 1.39 1.14 1 0.95 0.5 3.39 3.56 10.13 9.99
CEPS(Rs) 2.63 2.59 3.13 2.81 2.61 2.42 1.9 4.65 4.83 11.6 11.57
DPS(Rs) 0.2 0.25 0.25 0.25 0.3 0.3 0.35 0.4 0.45 0.5 1
Book NAV/Share(Rs) 22.32 24.08 26.3 27.12 27.64 27.88 28.21 31.23 34.32 44.03 53.49
Core EBITDA Margin(%) 9.58 9.57 8.37 7.71 7.68 7.37 7.39 11.24 11.06 18.96 19.91
EBIT Margin(%) 6.53 6.79 6.55 5.86 5.8 5.71 3.74 10.51 9.96 17.45 19.67
Pre Tax Margin(%) 1.66 1.92 3.54 3.37 3.38 3.67 2.13 9.9 9.48 16.87 19
PAT Margin (%) 0.95 1.05 2.5 1.94 2.19 2.4 1.51 7.58 7.19 12.55 14.05
Cash Profit Margin (%) 4.59 4.66 5.65 4.76 5.7 6.13 5.76 10.42 9.78 14.4 16.3
ROA(%) 0.82 0.97 2.59 2.2 2.14 2.22 1.24 8.4 7.77 17.93 13.95
ROE(%) 2.44 2.53 5.74 4.28 3.65 3.41 1.77 11.37 10.83 25.81 20.45
ROCE(%) 7.44 7.92 8.5 8.23 6.94 6.48 3.87 14.79 14.02 33.76 27.46
Receivable days 104.32 106.48 106.58 103.21 117.68 111.7 111.83 80.66 80.63 54.29 67.32
Inventory Days 141.54 118.62 95.41 86.57 99.81 105.17 118.9 88.12 85.78 62.84 89.64
Payable days 104.75 81.92 67.74 49.65 45.16 40.97 47.17 37.54 40.73 36.31 58.58
PER(x) 90.75 62.01 30.94 39.31 25.39 11.68 67.45 18.7 26.75 44.85 47.26
Price/Book(x) 2.28 1.51 1.63 1.66 0.92 0.4 1.18 2.03 2.77 10.32 8.83
Dividend Yield(%) 0.39 0.69 0.58 0.56 1.18 2.71 1.05 0.63 0.47 0.11 0.21
EV/Net Sales(x) 1.43 1.1 1.16 0.99 0.71 0.35 1 1.38 1.88 5.56 6.61
EV/Core EBITDA(x) 12.01 9.7 11.22 10.64 8.17 3.93 11.89 11.1 15.2 28.15 31.09
Net Sales Growth(%) 3.27 -3.83 8.92 13.33 -21.03 -13.75 -16.46 35.54 10.72 63.18 -11.92
EBIT Growth(%) -22.29 0.67 5.46 -4.86 -23.27 -15.19 -44.28 280.48 4.98 185.83 -0.73
PAT Growth(%) -64.29 7.96 158.85 -17.44 -12.5 -5.47 -45.5 582.69 5.05 184.77 -1.38
EPS Growth(%) -64.12 4.31 136.27 -17.44 -12.51 -5.47 -47.64 584.09 5.06 184.72 -1.41
Debt/Equity(x) 1.22 0.9 0.66 0.49 0.3 0.19 0.07 0.06 0.08 0.05 0.04
Current Ratio(x) 1.33 1.31 1.39 1.52 1.89 2.16 2.78 3.03 2.69 2.51 2.24
Quick Ratio(x) 0.68 0.77 0.83 0.92 1.13 1.31 1.55 1.86 1.72 1.62 1.4
Interest Cover(x) 1.34 1.39 2.17 2.35 2.4 2.81 2.32 17.37 20.83 30.13 29.71
Total Debt/Mcap(x) 0.53 0.6 0.44 0.29 0.33 0.49 0.06 0.03 0.03 0 0

HBL Engineering Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 59.11 59.11 59.11 59.11 59.11 59.11 59.11 59.11 59.11 59.11
FII 2.23 2.66 4.58 4.65 4.9 5.22 4.83 4.83 7.1 5.87
DII 0.08 0.41 0.66 1.07 0.97 0.39 0.36 0.36 0.65 0.82
Public 38.58 37.82 35.65 35.17 35.02 35.28 35.7 35.7 33.14 34.2
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

HBL Engineering News

HBL Engineering Pros & Cons

Pros

  • Company has delivered good profit growth of 60% CAGR over last 5 years
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 36.31 to 58.58days.
  • Stock is trading at 9.7 times its book value.
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