Hind Rectifiers Ltd

Hind Rectifiers Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Hind Rectifiers Ltd

₹ 656 -4.02%
03 Jul 9:00 a.m.
hirect.com BSE: 504036 NSE: HIRECT
About

Incorporated in April 1958, Hind Rectifiers Ltd. is primarily engaged in developing, designing, manufacturing, and marketing Power Semiconductor, Power Electronic Equipments, and Railway Transportation Equipments. [1][2]

Key Points

Business Divisions
Equipment: The Co. provides complete solutions in design, manufacturing and services in the field of power electronic equipment for aviation, power, telecommunication, and various industrial plants. It manufactures Active Harmonic Filters, Constant Current Regulators, Water Cooled Rectifier, Thyristor Controlled Rectifier, etc. [1][2]
Semiconductors: The Co. is involved in the development and manufacturing of power
semiconductor devices and offers a range of products including Stud/Flat Base/Capsule devices, Power Stack/Assemblies, and Rotating Assemblies. [3][4]
Traction: The Co. is involved in the transport projects of Railways, Mass Transit Projects, and Metropolitan Transport Systems and it manufactures Propulsion system, Transformers, Microprocessor, Driver Display Unit, Inverters, etc. [5][6]

Website BSE NSE
  • Market Cap ₹ 1,124 Cr.
  • Current Price ₹ 656
  • High / Low ₹ 824 / 272
  • Stock P/E 64.4
  • Book Value ₹ 72.7
  • Dividend Yield 0.00 %
  • ROCE 15.7 %
  • ROE 14.8 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 9.41 times its book value
  • Company has a low return on equity of 8.94% over last 3 years.

* 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: Consumer Durables Industry: Electronics - Components

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
75.57 73.45 102.12 94.19 102.34 72.64 77.64 97.23 111.59 97.58 131.98 136.63 151.36
71.39 68.36 94.67 89.53 97.36 72.91 79.84 90.68 100.57 90.95 121.37 123.15 137.86
Operating Profit 4.18 5.09 7.45 4.66 4.98 -0.27 -2.20 6.55 11.02 6.63 10.61 13.48 13.50
OPM % 5.53% 6.93% 7.30% 4.95% 4.87% -0.37% -2.83% 6.74% 9.88% 6.79% 8.04% 9.87% 8.92%
0.10 0.05 0.10 0.04 0.16 0.02 0.06 0.04 -10.63 0.06 0.10 -6.91 0.38
Interest 2.10 1.77 1.68 1.67 1.76 1.72 2.15 1.99 2.27 2.52 2.84 3.23 4.13
Depreciation 1.05 1.06 1.08 1.14 1.21 1.24 1.28 1.25 1.37 1.55 1.88 2.02 2.00
Profit before tax 1.13 2.31 4.79 1.89 2.17 -3.21 -5.57 3.35 -3.25 2.62 5.99 1.32 7.75
Tax % 23.89% 33.33% 29.44% 30.69% 28.11% 29.28% 27.29% 27.76% 24.31% 27.86% 33.72% -14.39% 33.81%
0.85 1.55 3.38 1.31 1.56 -2.27 -4.06 2.42 -2.46 1.90 3.98 1.52 5.12
EPS in Rs 0.51 0.94 2.04 0.79 0.94 -1.37 -2.45 1.46 -1.44 1.11 2.32 0.89 2.99
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
136 97 94 94 111 126 255 300 305 372 359 518
122 100 96 92 107 116 229 262 285 349 344 473
Operating Profit 14 -4 -2 2 5 10 26 38 20 23 15 44
OPM % 10% -4% -3% 2% 4% 8% 10% 13% 7% 6% 4% 9%
0 0 0 1 -7 0 1 0 0 0 -10 -6
Interest 1 2 2 3 5 6 8 8 9 7 8 13
Depreciation 2 2 1 2 2 2 3 4 4 4 5 7
Profit before tax 11 -7 -6 -2 -10 2 17 26 7 11 -9 18
Tax % 9% 30% 40% 31% 27% 35% 29% 30% 28% 30% 27% 29%
10 -5 -4 -2 -7 1 12 18 5 8 -6 13
EPS in Rs 6.10 -2.97 -2.15 -0.91 -4.29 0.79 7.12 11.16 3.22 4.71 -3.71 7.30
Dividend Payout % 24% -6% 0% 0% 0% 0% 6% 7% 12% 8% 0% 0%
Compounded Sales Growth
10 Years: 18%
5 Years: 15%
3 Years: 19%
TTM: 44%
Compounded Profit Growth
10 Years: 19%
5 Years: 9%
3 Years: 49%
TTM: 300%
Stock Price CAGR
10 Years: 29%
5 Years: 41%
3 Years: 63%
1 Year: 129%
Return on Equity
10 Years: 7%
5 Years: 10%
3 Years: 9%
Last Year: 15%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 3 3 3 3 3 3 3 3 3 3 3 3
Reserves 67 63 60 59 50 63 75 92 96 104 108 121
19 23 26 32 41 51 64 90 84 75 105 135
24 25 26 30 19 35 43 57 57 64 76 71
Total Liabilities 114 113 116 123 113 153 185 243 241 246 292 331
17 16 18 21 20 27 26 33 41 48 80 104
CWIP 0 0 1 2 5 4 14 18 20 28 21 8
Investments 0 0 0 0 0 0 0 6 0 0 0 0
97 97 96 101 88 121 144 185 180 170 192 219
Total Assets 114 113 116 123 113 153 185 243 241 246 292 331

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6 -1 2 5 -3 -4 6 4 22 36 8 34
-4 -1 -3 -5 -4 -10 -10 -22 -8 -20 -29 -19
0 -1 0 3 4 15 3 19 -15 -17 21 -14
Net Cash Flow 3 -3 -0 4 -3 1 -1 1 -1 -0 0 0

Ratios

Figures in Rs. Crores

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 153 200 221 174 117 161 90 99 105 66 69 63
Inventory Days 100 147 117 180 126 143 106 121 106 97 121 92
Days Payable 56 89 97 124 57 115 65 69 65 60 69 45
Cash Conversion Cycle 197 258 241 230 185 188 132 151 146 104 120 110
Working Capital Days 173 243 228 224 172 192 120 141 145 103 116 100
ROCE % 14% -6% -4% 1% 3% 8% 19% 21% 9% 10% 5%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
42.25% 42.25% 42.25% 42.25% 42.25% 42.25% 42.25% 44.08% 44.08% 44.08% 44.08% 44.05%
2.78% 4.97% 6.39% 6.47% 6.47% 6.47% 6.47% 6.26% 6.26% 6.26% 5.72% 5.76%
0.02% 0.02% 0.02% 0.02% 0.02% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01%
54.95% 52.76% 51.34% 51.26% 51.26% 51.26% 51.26% 49.64% 49.64% 49.65% 50.18% 50.16%
No. of Shareholders 10,21310,0049,4329,6089,6529,5539,1368,9217,9837,5808,4039,936

* 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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