High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Reasonably good balance sheet.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Awesome revenue growth! Revenue grew 52.4% over last year and 178.5% in last three years on TTM basis.
Past Returns: Outperforming stock! In past three years, the stock has provided 106.2% return compared to 8.9% by NIFTY 50.
No major cons observed.
Valuation | |
|---|---|
| Market Cap | 3.45 kCr |
| Price/Earnings (Trailing) | 59.84 |
| Price/Sales (Trailing) | 3.45 |
| EV/EBITDA | 36.69 |
| Price/Free Cashflow | 223.6 |
| MarketCap/EBT | 48 |
| Enterprise Value | 3.69 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 1 kCr |
| Rev. Growth (Yr) | 51.5% |
| Earnings (TTM) | 57.67 Cr |
| Earnings Growth (Yr) | 64% |
Profitability | |
|---|---|
| Operating Margin | 9% |
| EBT Margin | 7% |
| Return on Equity | 26.06% |
| Return on Assets | 8.71% |
| Free Cashflow Yield | 0.45% |
Growth & Returns | |
|---|---|
| Price Change 1W | 1.2% |
| Price Change 1M | 11.9% |
| Price Change 6M | 21.3% |
| Price Change 1Y | 71.1% |
| 3Y Cumulative Return | 106.2% |
| 5Y Cumulative Return | 69.1% |
| 7Y Cumulative Return | 48.9% |
| 10Y Cumulative Return | 40.3% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -84.76 Cr |
| Cash Flow from Operations (TTM) | 85.81 Cr |
| Cash Flow from Financing (TTM) | -5.66 Cr |
| Cash & Equivalents | 3.91 Cr |
| Free Cash Flow (TTM) | 15.45 Cr |
| Free Cash Flow/Share (TTM) | 4.49 |
Balance Sheet | |
|---|---|
| Total Assets | 662.07 Cr |
| Total Liabilities | 391.35 Cr |
| Shareholder Equity | 221.26 Cr |
| Current Assets | 405.25 Cr |
| Current Liabilities | 345.86 Cr |
| Net PPE | 171.52 Cr |
| Inventory | 135.28 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.36 |
| Debt/Equity | 1.07 |
| Interest Coverage | 3.52 |
| Interest/Cashflow Ops | 6.4 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 2 |
| Dividend Yield | 0.15% |
| Shares Dilution (1Y) | 0.10% |
| Shares Dilution (3Y) | 0.30% |
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Balance Sheet: Reasonably good balance sheet.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Awesome revenue growth! Revenue grew 52.4% over last year and 178.5% in last three years on TTM basis.
Past Returns: Outperforming stock! In past three years, the stock has provided 106.2% return compared to 8.9% by NIFTY 50.
No major cons observed.
Investor Care | |
|---|---|
| Dividend Yield | 0.15% |
| Dividend/Share (TTM) | 2 |
| Shares Dilution (1Y) | 0.10% |
| Earnings/Share (TTM) | 16.8 |
Financial Health | |
|---|---|
| Current Ratio | 1.17 |
| Debt/Equity | 1.07 |
Technical Indicators | |
|---|---|
| RSI (14d) | 60.71 |
| RSI (5d) | 79.86 |
| RSI (21d) | 60.59 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal | Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
Summary of Hind Rectifiers's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management provided an optimistic outlook during the Q3 FY26 earnings call for Hind Rectifiers Limited. The key forward-looking points included:
Order Book Stability: As of December 31, 2025, the order book stood at INR 1,103 crores, indicating sustained demand momentum, particularly from Indian Railways and leading OEM customers.
Capital Expenditure Initiatives: The union budget allocated a record INR 2.93 lakh crores for Indian Railways, emphasizing growth opportunities in electrification, modernization, and safety systems. Management anticipates this would support overall demand for railway equipment and power system suppliers.
Strategic Enhancements: The company is focusing on backward integration through a specialized copper conductors project, expected to stabilize by Q1 FY27, enhancing cost efficiencies and reducing dependency on outside vendors.
Leadership Influx: The appointment of Douglas Bailey as Global CEO is expected to enhance operational efficiency and foster technology-driven growth.
Bonus Shares Announcement: A 1:1 bonus share issue was approved, reflecting the company's strong financial position and commitment to rewarding shareholders.
Revenue Growth Forecast: Management expects a year-on-year revenue growth of approximately 30% for Q4 FY26 and a similar trajectory going into FY27, primarily driven by existing business lines.
Propulsion System Trials: Trials for the propulsion system commenced, projected to be completed within three to four months, with expectations of participating in related tenders afterward.
Future Product Pipeline: The company has approximately 40 products under R&D, with ongoing evaluations for launches, which will contribute to future growth beyond existing offerings.
Overall, management expresses confidence in the company's long-term growth prospects generated by strategic investments and a strong order pipeline.
1. Question: "Order book seems to be muted during the quarter. In Q3, didn't we receive any new orders? And can you also please share the trajectory of the order book going forward?"
Answer: Our order book remains robust, despite some delays because railway tenders expected this quarter have shifted out. However, requirements are building up, particularly for transformers, a key product line. We are optimistic about receiving new orders in the next quarter, indicating an upward trajectory for the order book overall.
2. Question: "What is the status of the integration of Hirect and BeLink regarding processes and technology transfer? Can you provide updates on potential cross-selling opportunities in the European market?"
Answer: The integration with BeLink is an ongoing process. This industry requires time to build products and design them into customer systems. We are proactively reaching out to BeLink's customers to explore synergies, particularly in railways and heavy engineering, but it will take time before we realize results.
3. Question: "On the R&D front, how many products are currently under development? Do we expect to launch some in the coming quarter?"
Answer: We currently have about 40 products under development across various categories, including complete new products and upgrades. We're continuously rolling out product improvements, with several releases planned in the near future.
4. Question: "Have we completed the 50,000-kilometer trial run for the propulsion system? Do we have any orders in the pipeline?"
Answer: The trials for the propulsion system have commenced, and we anticipate completion of the 50,000 kilometers within three to four months. We also have orders in hand valued at around INR 50 crores and expect additional orders soon.
5. Question: "What is the status concerning the additional order of INR 101 crores from Indian Railways?"
Answer: This amount reflects the total pending orders we had as of December 31, 2025, with no new orders having been finalized during this last quarter.
6. Question: "Can you guide us for the margins going forward? Why did they drop this quarter?"
Answer: The dip in margins is attributed to raw material price fluctuations, particularly in copper. We expect to regain improved margins as our in-house copper conductor factory becomes operational, which should normalize from Q2 of next year.
7. Question: "What is your outlook for Q4 FY '26 in terms of growth and margins?"
Answer: While we don't provide specific guidance, Q4 is looking promising. We expect year-on-year growth of about 30%, and we are focused on maintaining and improving our margins as we navigate through operational efficiencies.
8. Question: "Can you provide some insights into the commercial activity regarding the high-speed rail corridors?"
Answer: We are exploring opportunities related to products we can offer for the high-speed railway corridors mentioned in the budget. However, detailed order expectations are too early to specify as we are still in the initial exploratory phases.
9. Question: "How is the Europe subsidiary performing, and do you foresee breakeven soon?"
Answer: The BeLink subsidiary is currently operating at a loss, and we anticipate a turnaround will take some time. We are focusing on integrations and exploring its potential market presence but do not expect breakeven in the immediate term.
10. Question: "What are the company's aspirations for the next few years in terms of revenue milestones?"
Answer: Our ambition is to expand offerings beyond railways into various sectors, while also enhancing export capabilities. Over the next five years, we plan to build a globally competitive position focusing on power electronics and technology innovation, targeting significant growth through product diversification and expansion.
Analysis of Hind Rectifiers's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Mar 31, 2026
| Description | Share | Value |
|---|---|---|
| Engineering Products | 88.1% | 264 Cr |
| CTC/ PICC/ EPICC | 6.7% | 20 Cr |
| EMS | 5.3% | 15.8 Cr |
| Total | 299.8 Cr |
Understand Hind Rectifiers ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| SAURABH NEVATIA | 21% |
| SURAMYA SAURABH NEVATIA | 14.98% |
| BTR Industries | 6.98% |
| CASSINI PARTNERS L.P. MANAGED BY HABROK | 2.94% |
| SURYANSH SAURABH NEVATIA | 2.78% |
| HABROK INDIA MASTER LP | 2.5% |
| SHRIYA SAURABH NEVATIA | 2.1% |
| NIRAJ BAJAJ | 1.75% |
| BHARTI SAURABH NEVATIA | 1.58% |
| MUKUL MAHAVIR AGRAWAL | 1.45% |
| SURABHI GOLYAN | 1.45% |
| Investor Education and Protection Fund (IEPF) | 1.29% |
| VEENA K JAGWANI | 1% |
| AKSHADA S NEVATIA | 0.03% |
| Saurabh Nevatia (Karta of SUSHIL KUMAR NEVATIA HUF) | 0% |
| ADIV NEVATIA | 0% |
| NURVI NEVATIA | 0% |
| SAURABH NEVATIA (Karta of Saurabh Nevatia HUF) | 0% |
| Caelora Capital FZCO | 0% |
| BELINK HIRECT SAS | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
Detailed comparison of Hind Rectifiers against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| ABB | ABB India | 1.4 LCr | 13.59 kCr | -9.20% | +11.90% | 46.88 | 10.27 | - | - |
| CGPOWER | CG Power and Industrial Solutions | 1.36 LCr | 12.66 kCr | +7.30% | +24.50% | 112.09 | 10.75 | - | - |
| SIEMENS | Siemens | 1.33 LCr | 18.09 kCr | +0.20% | +13.30% | 75.07 | 7.34 | - | - |
| TDPOWERSYS | TD Power Systems | 20.34 kCr | 1.88 kCr | +28.00% | +163.70% | 85.16 | 10.83 | - | - |
Comprehensive comparison against sector averages
HIRECT metrics compared to Industrial
| Category | HIRECT | Industrial |
|---|---|---|
| PE | 59.84 | 48.65 |
| PS | 3.45 | 3.26 |
| Growth | 52.4 % | 9.3 % |
Hind Rectifiers Limited engages in the designs, development, manufacture, and marketing of power semiconductor devices, power electronic equipment, and railway transportation equipment in India and internationally. The company provides various traction and aux transformers, IGBT propulsion systems, auxiliary converters and battery chargers, on-board DC rectifiers, traction motors, panels, electrical switch boards, power supplies, safety, and protection electronics, and rolling stock HVAC systems for railways, as well as electrostatic precipitators, power quality improvement solutions, and special, and current rectifiers. It also offers repairing and servicing, AMC and erectioning, and commissioning services. Hind Rectifiers Limited was incorporated in 1958 and is based in Mumbai, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
HIRECT vs Industrial (2021 - 2026)