Market Cap ₹1245 Cr.
Stock P/E 252.1
P/B 10.4
Current Price ₹726.5
Book Value ₹ 69.6
Face Value 2
52W High ₹815.4
Dividend Yield 0%
52W Low ₹ 212.1
Hind Rectifiers Ltd is engaged in growing, designing, manufacturing and advertising and marketing power semiconductor, power electronic system and railway transportation equipment. It manufactures high current rectifiers, inverters, high voltage and converters. The Company's segments encompass Electronic Components and Equipment. The Equipment department manufactures electronic stability application (ESP), Loco Transformers, Water Cooled Rectifiers, Thyristor controlled reactor (TCR). Its Traction department manufactures inverters, converters and different railway merchandise. Its Components division is engaged within the commercial enterprise of semiconductor devices, which might be used for captive consumption for production rectifiers. The Company's Trading department is engaged within the business of imported Capacitors and Fuses. It offers services, consisting of pre-set up, supervision of erection and commissioning, post commissioning and preservation, and annual maintenance contract (AMC) of railway equipment.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 102 | 94 | 102 | 73 | 78 | 97 | 112 | 98 | 132 | 137 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 102 | 94 | 103 | 73 | 78 | 97 | 112 | 98 | 132 | 137 |
| Total Expenditure | 95 | 90 | 97 | 73 | 80 | 91 | 101 | 91 | 121 | 123 |
| Operating Profit | 8 | 5 | 5 | -0 | -2 | 7 | 11 | 7 | 11 | 14 |
| Interest | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -11 | 0 | 0 | -7 |
| Profit Before Tax | 5 | 2 | 2 | -3 | -6 | 3 | -3 | 3 | 6 | 1 |
| Provision for Tax | 1 | 1 | 1 | -1 | -2 | 1 | -1 | 1 | 2 | -0 |
| Profit After Tax | 3 | 1 | 2 | -2 | -4 | 2 | -2 | 2 | 4 | 2 |
| Adjustments | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 3 | 1 | 2 | -2 | -4 | 2 | -2 | 2 | 4 | 2 |
| Adjusted Earnings Per Share | 2 | 0.8 | 0.9 | -1.4 | -2.5 | 1.5 | -1.4 | 1.1 | 2.3 | 0.9 |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 136 | 97 | 94 | 94 | 111 | 126 | 255 | 300 | 305 | 372 | 359 | 479 |
| Other Income | 0 | 0 | 0 | 1 | 1 | 0 | 8 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 136 | 97 | 94 | 95 | 112 | 126 | 263 | 300 | 305 | 372 | 359 | 479 |
| Total Expenditure | 122 | 100 | 96 | 92 | 107 | 116 | 236 | 262 | 285 | 349 | 344 | 436 |
| Operating Profit | 14 | -3 | -2 | 3 | 5 | 10 | 27 | 38 | 20 | 23 | 16 | 43 |
| Interest | 1 | 2 | 2 | 3 | 5 | 6 | 8 | 8 | 9 | 7 | 8 | 11 |
| Depreciation | 2 | 2 | 1 | 2 | 2 | 2 | 3 | 4 | 4 | 4 | 5 | 7 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -8 | 0 | 0 | 0 | 0 | 0 | -11 | -18 |
| Profit Before Tax | 11 | -7 | -6 | -2 | -10 | 2 | 17 | 26 | 7 | 11 | -9 | 7 |
| Provision for Tax | 1 | -2 | -2 | -1 | -3 | 1 | 5 | 8 | 2 | 3 | -2 | 2 |
| Profit After Tax | 10 | -5 | -4 | -2 | -7 | 1 | 12 | 18 | 5 | 8 | -6 | 6 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 10 | -5 | -4 | -2 | -7 | 1 | 12 | 18 | 5 | 8 | -6 | 6 |
| Adjusted Earnings Per Share | 6.5 | -3.2 | -2.3 | -1 | -4.5 | 0.8 | 7.1 | 11.2 | 3.2 | 4.7 | -3.7 | 2.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -3% | 6% | 23% | 10% |
| Operating Profit CAGR | -30% | -25% | 10% | 1% |
| PAT CAGR | -175% | NAN% | NAN% | NAN% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 239% | 71% | 42% | 31% |
| ROE Average | -6% | 2% | 9% | 3% |
| ROCE Average | -0% | 6% | 12% | 6% |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 70 | 66 | 63 | 62 | 53 | 66 | 78 | 96 | 100 | 107 | 112 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 6 | 6 | 10 | 17 | 15 | 11 | 21 | 24 |
| Other Non-Current Liabilities | 1 | -1 | -2 | -3 | -9 | -9 | -5 | -0 | 2 | 3 | 1 |
| Total Current Liabilities | 42 | 46 | 50 | 53 | 52 | 75 | 87 | 127 | 124 | 112 | 151 |
| Total Liabilities | 114 | 110 | 112 | 119 | 102 | 142 | 178 | 238 | 237 | 244 | 288 |
| Fixed Assets | 17 | 16 | 18 | 21 | 20 | 27 | 26 | 33 | 41 | 48 | 80 |
| Other Non-Current Assets | 5 | 6 | 9 | 8 | 10 | 10 | 21 | 28 | 22 | 31 | 22 |
| Total Current Assets | 92 | 89 | 85 | 90 | 72 | 105 | 131 | 177 | 175 | 164 | 185 |
| Total Assets | 114 | 110 | 112 | 119 | 102 | 142 | 178 | 238 | 237 | 244 | 288 |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 4 | 1 | 1 | 5 | 1 | 2 | 2 | 3 | 2 | 1 |
| Cash Flow from Operating Activities | 6 | -1 | 2 | 5 | -3 | -4 | 6 | 4 | 22 | 36 | 8 |
| Cash Flow from Investing Activities | -4 | -1 | -3 | -5 | -4 | -10 | -10 | -22 | -8 | -20 | -29 |
| Cash Flow from Financing Activities | 0 | -1 | 0 | 3 | 4 | 15 | 3 | 19 | -15 | -17 | 21 |
| Net Cash Inflow / Outflow | 3 | -3 | -0 | 4 | -3 | 1 | -1 | 1 | -1 | -0 | 0 |
| Closing Cash & Cash Equivalent | 4 | 1 | 1 | 5 | 1 | 2 | 2 | 3 | 2 | 1 | 1 |
| # | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 6.52 | -3.17 | -2.3 | -0.97 | -4.48 | 0.79 | 7.12 | 11.16 | 3.22 | 4.71 | -3.72 |
| CEPS(Rs) | 8.03 | -1.7 | -1.35 | 0.04 | -3.2 | 2.19 | 8.76 | 13.62 | 5.53 | 7.42 | -0.71 |
| DPS(Rs) | 1.6 | 0.2 | 0 | 0 | 0 | 0 | 0.4 | 0.8 | 0.4 | 0.4 | 0 |
| Book NAV/Share(Rs) | 45.36 | 42.19 | 40.76 | 39.79 | 34.24 | 40.02 | 47.17 | 57.74 | 60.24 | 64.6 | 64.79 |
| Core EBITDA Margin(%) | 9.74 | -3.46 | -2.5 | 2.07 | 3.91 | 7.74 | 7.47 | 12.68 | 6.56 | 6.09 | 4.3 |
| EBIT Margin(%) | 8.3 | -5.26 | -3.61 | 1.1 | -3.64 | 6.27 | 9.6 | 11.48 | 5.42 | 4.97 | -0.05 |
| Pre Tax Margin(%) | 7.64 | -6.93 | -5.98 | -2.2 | -7.92 | 1.59 | 6.53 | 8.76 | 2.41 | 3 | -2.42 |
| PAT Margin (%) | 6.97 | -4.83 | -3.61 | -1.52 | -5.78 | 1.03 | 4.62 | 6.17 | 1.75 | 2.1 | -1.77 |
| Cash Profit Margin (%) | 8.58 | -2.59 | -2.12 | 0.07 | -4.12 | 2.85 | 5.69 | 7.53 | 3 | 3.3 | -0.34 |
| ROA(%) | 9.38 | -4.4 | -3.22 | -1.31 | -6.32 | 1.08 | 7.37 | 8.89 | 2.24 | 3.24 | -2.4 |
| ROE(%) | 15.15 | -7.24 | -5.54 | -2.41 | -12.11 | 2.2 | 16.33 | 21.27 | 5.46 | 7.54 | -5.84 |
| ROCE(%) | 14.35 | -6.01 | -4.02 | 1.19 | -4.67 | 7.54 | 18.91 | 21.02 | 8.97 | 10.12 | -0.09 |
| Receivable days | 145.98 | 197.3 | 202.57 | 186.51 | 121.56 | 130.72 | 84.86 | 87.89 | 100.96 | 76.28 | 68.78 |
| Inventory Days | 56.72 | 100.5 | 96.72 | 100.92 | 90.42 | 88.4 | 63.35 | 75.17 | 82.43 | 71.39 | 86.12 |
| Payable days | 58.25 | 80.2 | 96.41 | 113.49 | 80.49 | 83.23 | 59.56 | 63.06 | 63.01 | 56.65 | 65.76 |
| PER(x) | 7.61 | 0 | 0 | 0 | 0 | 166.71 | 15.99 | 10.57 | 36.99 | 39.42 | 0 |
| Price/Book(x) | 1.09 | 0.78 | 1.57 | 1.52 | 2.26 | 3.31 | 2.41 | 2.04 | 1.98 | 2.87 | 3 |
| Dividend Yield(%) | 3.13 | 0.59 | 0 | 0 | 0 | 0 | 0.35 | 0.68 | 0.34 | 0.22 | 0 |
| EV/Net Sales(x) | 0.68 | 0.75 | 1.32 | 1.29 | 1.43 | 2.13 | 0.98 | 0.94 | 0.92 | 1.02 | 1.21 |
| EV/Core EBITDA(x) | 6.38 | -23.73 | -59.27 | 45.54 | 29.54 | 26.06 | 9.36 | 7.33 | 13.71 | 16.55 | 27.75 |
| Net Sales Growth(%) | 15.5 | -29 | -2.84 | -0.03 | 18.68 | 12.74 | 102.99 | 17.43 | 1.83 | 21.96 | -3.49 |
| EBIT Growth(%) | -11.72 | -144.39 | 33.33 | 130.56 | -502.39 | 281.57 | 207.15 | 40.48 | -51.9 | 11.86 | -101.02 |
| PAT Growth(%) | -5.19 | -148.63 | 27.47 | 57.74 | -361.54 | 118.86 | 796.98 | 56.72 | -71.15 | 46.27 | -181.59 |
| EPS Growth(%) | -5.19 | -148.63 | 27.47 | 57.74 | -361.54 | 117.7 | 796.98 | 56.72 | -71.15 | 46.27 | -178.92 |
| Debt/Equity(x) | 0.27 | 0.35 | 0.41 | 0.52 | 0.77 | 0.77 | 0.81 | 0.94 | 0.84 | 0.7 | 0.94 |
| Current Ratio(x) | 2.21 | 1.95 | 1.69 | 1.69 | 1.4 | 1.41 | 1.5 | 1.39 | 1.4 | 1.46 | 1.23 |
| Quick Ratio(x) | 1.58 | 1.29 | 1.24 | 1.08 | 0.88 | 0.94 | 0.88 | 0.85 | 0.85 | 0.77 | 0.61 |
| Interest Cover(x) | 12.64 | -3.13 | -1.52 | 0.33 | -0.85 | 1.34 | 3.13 | 4.22 | 1.8 | 2.52 | -0.02 |
| Total Debt/Mcap(x) | 0.25 | 0.45 | 0.26 | 0.34 | 0.34 | 0.23 | 0.34 | 0.46 | 0.42 | 0.24 | 0.31 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 42.25 | 42.25 | 42.25 | 42.25 | 42.25 | 44.08 | 44.08 | 44.08 | 44.08 | 44.05 |
| FII | 6.39 | 6.47 | 6.47 | 6.47 | 6.47 | 6.26 | 6.26 | 6.26 | 5.72 | 5.76 |
| DII | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Public | 51.34 | 51.26 | 51.26 | 51.26 | 51.26 | 49.64 | 49.64 | 49.64 | 50.18 | 50.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.75 | 0.75 | 0.75 | 0.75 | 0.75 |
| FII | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.1 | 0.1 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.85 | 0.86 | 0.86 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.66 | 1.66 | 1.66 | 1.66 | 1.66 | 1.71 | 1.71 | 1.71 | 1.71 | 1.71 |
Pros
Cons
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