HBL Engineering Ltd

₹ 638 0.84%

27 Dec 1:43 p.m.

About

Incorporated in 1983, HBL Power System Ltd manufactures and services different types of batteries, e-mobility, and other products^[1]

Key Points

Market Position
The company ranks ** 2nd globally in the industrial nickel batteries segment and 3rd** in India's VRLA lead batteries segment. It is also the only manufacturer of PLT lead batteries in the country. ^[1]

Website BSE NSE

Market Cap ₹ 17,671 Cr.
Current Price ₹ 638
High / Low ₹ 740 / 378
Stock P/E 54.9
Book Value ₹ 48.5
Dividend Yield 0.08 %
ROCE 34.4 %
ROE 26.3 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is almost debt free.
Company is expected to give good quarter
Company has delivered good profit growth of 67.9% CAGR over last 5 years
Debtor days have improved from 81.0 to 63.7 days.
Company's working capital requirements have reduced from 118 days to 84.2 days

Cons

Stock is trading at 13.1 times its book value

* 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

Sector: Auto Ancillaries Industry: Auto Ancillaries

Part of BSE 250 SmallCap Index Nifty 500 Multicap 50:25:25 BSE 400 MidSmallCap Index BSE SmallCap BSE Consumer Discretionary Nifty MidSmallcap 400 BSE 500 Nifty Total Market Nifty Smallcap 100 BSE Allcap Nifty 500 Nifty Smallcap 250

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	279	344	377	315	308	329	398	458	551	595	604	511	520
	255	299	322	280	276	291	355	384	450	483	473	403	411
Operating Profit	24	45	54	34	32	38	43	75	101	111	131	108	109
OPM %	8%	13%	14%	11%	10%	12%	11%	16%	18%	19%	22%	21%	21%
	2	2	3	3	6	6	4	3	3	1	-19	5	12
Interest	1	2	2	1	1	2	2	2	3	3	4	2	2
Depreciation	9	9	8	8	8	9	9	9	10	10	10	10	11
Profit before tax	15	36	47	28	29	33	36	66	91	99	98	101	108
Tax %	10%	33%	27%	32%	35%	31%	3%	27%	25%	23%	28%	27%	26%
	14	24	34	19	19	23	35	49	69	76	71	74	80
EPS in Rs	0.50	0.88	1.23	0.69	0.68	0.82	1.26	1.75	2.47	2.75	2.55	2.68	2.90
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,196	1,277	1,329	1,288	1,407	1,593	1,261	1,077	909	1,222	1,350	2,209	2,231
	1,054	1,177	1,184	1,162	1,277	1,467	1,166	999	841	1,086	1,202	1,790	1,771
Operating Profit	142	100	145	126	130	126	96	78	68	135	148	419	460
OPM %	12%	8%	11%	10%	9%	8%	8%	7%	8%	11%	11%	19%	21%
	17	67	2	13	14	13	19	21	4	25	19	-12	-0
Interest	93	76	71	68	46	41	31	22	14	7	6	12	11
Depreciation	40	39	51	50	48	46	44	40	38	35	34	39	42
Profit before tax	25	52	25	20	50	52	40	38	19	118	126	355	407
Tax %	19%	14%	42%	61%	32%	43%	37%	36%	25%	24%	24%	26%
	20	45	15	8	34	30	25	24	15	89	96	264	301
EPS in Rs	0.81	1.78	0.58	0.31	1.34	1.07	0.91	0.87	0.53	3.23	3.45	9.52	10.88
Dividend Payout %	19%	11%	35%	81%	20%	23%	33%	35%	67%	12%	13%	5%

Compounded Sales Growth
10 Years:	6%
5 Years:	12%
3 Years:	34%
TTM:	28%

Compounded Profit Growth
10 Years:	68%
5 Years:	68%
3 Years:	151%
TTM:	84%

Stock Price CAGR
10 Years:	35%
5 Years:	109%
3 Years:	115%
1 Year:	42%

Return on Equity
10 Years:	8%
5 Years:	11%
3 Years:	16%
Last Year:	26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	25	25	25	25	28	28	28	28	28	28	28	28	28
Reserves	521	560	562	599	712	733	749	755	765	844	928	1,178	1,317
	815	731	683	546	476	365	231	158	67	61	81	56	51
	319	452	303	276	259	221	160	166	183	202	256	363	402
Total Liabilities	1,680	1,768	1,574	1,445	1,475	1,347	1,168	1,107	1,043	1,134	1,293	1,624	1,798
	486	474	444	415	416	363	320	301	277	263	317	345	349
CWIP	68	56	49	48	33	26	37	27	43	81	49	18	31
Investments	150	29	23	15	8	3	3	3	3	5	8	93	94
	977	1,208	1,058	968	1,016	954	807	775	720	786	919	1,167	1,325
Total Assets	1,680	1,768	1,574	1,445	1,475	1,347	1,168	1,107	1,043	1,134	1,293	1,624	1,798

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	59	-46	95	161	42	157	165	147	113	61	122	258
	-6	166	-24	-15	61	-6	2	-3	-24	-17	-48	-120
	-50	-115	-66	-152	-114	-149	-163	-114	-103	-22	8	-47
Net Cash Flow	3	5	5	-6	-11	3	4	30	-14	22	82	91

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	132	131	112	125	127	107	110	107	110	92	87	64
Inventory Days	236	277	226	185	167	125	143	162	184	147	146	137
Days Payable	105	136	81	77	68	43	34	41	43	42	43	41
Cash Conversion Cycle	263	272	258	233	225	189	219	229	250	197	191	160
Working Capital Days	158	182	180	177	182	155	169	175	175	138	132	84
ROCE %	8%	5%	9%	7%	8%	9%	6%	6%	4%	13%	13%	34%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	58.95%	58.97%	58.97%	58.97%	59.02%	59.08%	59.10%	59.11%	59.11%	59.11%	59.11%	59.10%
	11.25%	9.15%	4.79%	1.55%	1.77%	0.91%	2.63%	2.23%	2.66%	4.59%	4.66%	4.91%
	9.32%	9.33%	9.32%	3.59%	0.00%	0.00%	0.14%	0.08%	0.41%	0.66%	1.07%	0.96%
	20.48%	22.55%	26.92%	35.88%	39.21%	40.00%	38.14%	38.58%	37.82%	35.65%	35.17%	35.03%
No. of Shareholders	1,18,833	1,41,740	1,51,017	1,67,040	1,76,536	1,71,714	1,79,444	2,21,392	2,42,385	2,87,032	3,32,912	3,68,688

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	74.24%	56.35%	56.46%	57.85%	58.51%	58.97%	59.08%	59.11%	59.10%
	0.04%	10.74%	11.05%	11.05%	10.67%	9.15%	0.91%	4.59%	4.91%
	8.66%	13.28%	12.53%	11.29%	9.75%	9.33%	0.00%	0.66%	0.96%
	17.06%	19.63%	19.95%	19.81%	21.07%	22.55%	40.00%	35.65%	35.03%
No. of Shareholders	27,069	46,205	46,049	44,544	77,508	1,41,740	1,71,714	2,87,032	3,68,688

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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HBL Engineering Ltd

HBL Engineering Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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