New Risk • May 14
New major risk - Revenue and earnings growth Earnings have declined by 68% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings have declined by 68% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.8% average weekly change). Reported Earnings • May 14
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: ₹159 loss per share (further deteriorated from ₹43.63 loss in FY 2025). Revenue: ₹37.9b (up 4.7% from FY 2025). Net loss: ₹1.20b (loss widened 263% from FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 2.3% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. New Risk • May 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 309% Minor Risk Share price has been volatile over the past 3 months (8.7% average weekly change). 공시 • May 04
BirlaNu Limited to Report Q4, 2026 Results on May 12, 2026 BirlaNu Limited announced that they will report Q4, 2026 results on May 12, 2026 New Risk • Mar 17
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.07b (US$98.2m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.0% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 309% Minor Risk Market cap is less than US$100m (₹9.07b market cap, or US$98.2m). Price Target Changed • Feb 19
Price target decreased by 8.1% to ₹2,037 Down from ₹2,216, the current price target is provided by 1 analyst. New target price is 26% above last closing price of ₹1,620. Stock is down 12% over the past year. The company is forecast to post a net loss per share of ₹120 next year compared to a net loss per share of ₹43.63 last year. Reported Earnings • Feb 16
Third quarter 2026 earnings released: ₹70.32 loss per share (vs ₹47.05 loss in 3Q 2025) Third quarter 2026 results: ₹70.32 loss per share (further deteriorated from ₹47.05 loss in 3Q 2025). Revenue: ₹8.70b (up 8.0% from 3Q 2025). Net loss: ₹530.3m (loss widened 50% from 3Q 2025). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 116 percentage points per year, which is a significant difference in performance. 공시 • Feb 10
BirlaNu Limited to Report Q3, 2026 Results on Feb 13, 2026 BirlaNu Limited announced that they will report Q3, 2026 results on Feb 13, 2026 공시 • Dec 31
Chandrakant Birla completed the acquisition of 39.89% stake in BirlaNu Limited (NSEI:BIRLANU) from a group of shareholders. Chandrakant Birla agreed to acquire 39.89% stake in BirlaNu Limited (NSEI:BIRLANU) from a group of shareholders on December 20, 2025.
Chandrakant Birla completed the acquisition of 39.89% stake in BirlaNu Limited (NSEI:BIRLANU) from a group of shareholders on December 29, 2025. Reported Earnings • Nov 08
Second quarter 2026 earnings released: ₹56.84 loss per share (vs ₹19.45 profit in 2Q 2025) Second quarter 2026 results: ₹56.84 loss per share (down from ₹19.45 profit in 2Q 2025). Revenue: ₹8.24b (up 6.4% from 2Q 2025). Net loss: ₹428.6m (down 392% from profit in 2Q 2025). Revenue is forecast to grow 7.8% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. 공시 • Oct 27
BirlaNu Limited to Report Q2, 2026 Results on Nov 07, 2025 BirlaNu Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Price Target Changed • Aug 08
Price target decreased by 15% to ₹2,333 Down from ₹2,744, the current price target is provided by 1 analyst. New target price is 18% above last closing price of ₹1,980. Stock is down 32% over the past year. The company is forecast to post a net loss per share of ₹78.40 next year compared to a net loss per share of ₹43.63 last year. 공시 • Jul 24
BirlaNu Limited to Report Q1, 2026 Results on Aug 04, 2025 BirlaNu Limited announced that they will report Q1, 2026 results on Aug 04, 2025 Upcoming Dividend • Jul 17
Upcoming dividend of ₹30.00 per share Eligible shareholders must have bought the stock before 24 July 2025. Payment date: 22 August 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.3%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.5%). Reported Earnings • Jul 09
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: ₹43.63 loss per share (down from ₹46.14 profit in FY 2024). Revenue: ₹36.2b (up 7.1% from FY 2024). Net loss: ₹329.0m (down 195% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. Declared Dividend • Jun 27
Dividend of ₹30.00 announced Shareholders will receive a dividend of ₹30.00. Ex-date: 24th July 2025 Payment date: 22nd August 2025 Dividend yield will be 1.3%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Reported Earnings • May 19
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: ₹43.63 loss per share (down from ₹46.14 profit in FY 2024). Revenue: ₹36.4b (up 8.0% from FY 2024). Net loss: ₹329.0m (down 195% from profit in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • May 18
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (4.3% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 32% per year over the past 5 years. 공시 • May 10
BirlaNu Limited to Report Q4, 2025 Results on May 17, 2025 BirlaNu Limited announced that they will report Q4, 2025 results at 4:00 PM, Indian Standard Time on May 17, 2025 공시 • Apr 09
Birlanu Limited Announces Resignation of Ms. Surbhi Puri Bist as Chief Human Resource Officer, Effective from July 4, 2025 BirlaNu Limited announced that Ms. Surbhi Puri Bist, Chief Human Resource Officer, a Senior Management Personnel, has tendered her resignation from the services of the Company vide letter dated April 8, 2025 due to personal reasons. Her last date of working will be July 4, 2025. Price Target Changed • Feb 11
Price target decreased by 11% to ₹2,678 Down from ₹3,023, the current price target is provided by 1 analyst. New target price is 40% above last closing price of ₹1,909. Stock is down 31% over the past year. The company is forecast to post a net loss per share of ₹32.70 compared to earnings per share of ₹46.14 last year. Reported Earnings • Feb 07
Third quarter 2025 earnings released: ₹47.05 loss per share (vs ₹9.52 loss in 3Q 2024) Third quarter 2025 results: ₹47.05 loss per share (further deteriorated from ₹9.52 loss in 3Q 2024). Revenue: ₹8.09b (up 3.2% from 3Q 2024). Net loss: ₹354.8m (loss widened 394% from 3Q 2024). Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. 공시 • Jan 29
HIL Limited to Report Q3, 2025 Results on Feb 06, 2025 HIL Limited announced that they will report Q3, 2025 results at 4:00 PM, Indian Standard Time on Feb 06, 2025 Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: ₹19.45 (vs ₹20.94 loss in 2Q 2024) Second quarter 2025 results: EPS: ₹19.45 (up from ₹20.94 loss in 2Q 2024). Revenue: ₹7.94b (up 9.7% from 2Q 2024). Net income: ₹146.7m (up ₹304.5m from 2Q 2024). Profit margin: 1.8% (up from net loss in 2Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 2 years, while revenues in the Basic Materials industry in India are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Nov 04
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to ₹2,737. The fair value is estimated to be ₹3,496, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. 공시 • Oct 23
HIL Limited to Report Q2, 2025 Results on Nov 07, 2024 HIL Limited announced that they will report Q2, 2025 results on Nov 07, 2024 Buy Or Sell Opportunity • Oct 15
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.7% to ₹2,778. The fair value is estimated to be ₹3,519, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Price Target Changed • Sep 10
Price target increased by 7.5% to ₹3,214 Up from ₹2,991, the current price target is provided by 1 analyst. New target price is 15% above last closing price of ₹2,794. Stock is down 8.8% over the past year. The company is forecast to post earnings per share of ₹5.70 for next year compared to ₹46.14 last year. Buy Or Sell Opportunity • Sep 03
Now 21% undervalued Over the last 90 days, the stock has risen 13% to ₹2,808. The fair value is estimated to be ₹3,539, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. New Risk • Aug 16
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.02x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.02x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹16.74 (vs ₹76.76 in 1Q 2024) First quarter 2025 results: EPS: ₹16.74 (down from ₹76.76 in 1Q 2024). Revenue: ₹11.1b (up 9.5% from 1Q 2024). Net income: ₹126.2m (down 78% from 1Q 2024). Profit margin: 1.1% (down from 5.7% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 4.5% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. 공시 • Aug 13
HIL Limited Appoints Manish Khandelwal as Business Head Construction Chemical & Putty HIL Limited informed that Mr. Manish Khandelwal has been appointed as Vice-President, Business Head Construction Chemical & Putty with effect from August 12, 2024 and designated as Senior Management Personnel of the Company. Manish is an astute and result oriented professional with 25+ years of extensive experience and proven track record in creating multiple brands and business with expertise in starting and stabilizing business operations, sales & marketing, service & strategic planning with P&L accountability. He started his career with Honda Siel Power Products Ltd., followed by Armstrong World Industries India, Pacific Holdings India, Unilin India Pvt. Ltd., Weber Stephen India Pvt. Ltd. and Greenply Industries Ltd. Prior to joining HIL, he was associated with Wavin Industries Ltd. as Commercial Director India & South Asia. Manish holds a B.Sc. from Agra University and a PGDBM from IAMT, Ghaziabad. 공시 • Aug 05
HIL Limited to Report Q1, 2025 Results on Aug 13, 2024 HIL Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Upcoming Dividend • Jul 16
Upcoming dividend of ₹22.50 per share Eligible shareholders must have bought the stock before 23 July 2024. Payment date: 22 August 2024. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 1.3%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.5%). Reported Earnings • Jul 08
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹46.14 (down from ₹129 in FY 2023). Revenue: ₹33.7b (down 3.0% from FY 2023). Net income: ₹347.9m (down 64% from FY 2023). Profit margin: 1.0% (down from 2.8% in FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 6.3% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹2,883, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 32x in the Basic Materials industry in India. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹2,020 per share. Declared Dividend • Jun 05
Final dividend of ₹22.50 announced Shareholders will receive a dividend of ₹22.50. Ex-date: 23rd July 2024 Payment date: 22nd August 2024 Dividend yield will be 1.5%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (81% earnings payout ratio) and cash flows (48% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 171% over the next 2 years, which should provide support to the dividend and adequate earnings cover. 공시 • Jun 05
HIL Limited, Annual General Meeting, Jul 30, 2024 HIL Limited, Annual General Meeting, Jul 30, 2024, at 15:00 Indian Standard Time. Board Change • May 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Sunil Bhumralkar was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 08
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹46.15 (down from ₹129 in FY 2023). Revenue: ₹34.0b (down 2.1% from FY 2023). Net income: ₹347.9m (down 64% from FY 2023). Profit margin: 1.0% (down from 2.8% in FY 2023). Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 9.9% p.a. on average during the next 2 years, compared to a 5.1% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. 공시 • Apr 24
HIL Limited (NSEI:HIL) completed the acquisition of Crestia Polytech Private Limited for INR 1.6 billion. HIL Limited (NSEI:HIL) agreed to acquire Crestia Polytech Private Limited for INR 900 million on March 11, 2024. The consideration consists of INR 900 million in cash subject to certain net working capital and other adjustments. As part of the consideration, INR 900 million was paid towards common equity. Crestia Polytech Private Limited reported the revenue of INR 1.6 billion for the financial year 2023. The board of directors of the HIL Limited (NSEI:HIL) approved the acquisition of 100% equity share capital of Crestia Polytech Private Limited. The completion of this acquisition is contingent upon the fulfillment of various conditions precedent as agreed between the parties and receipt of relevant approvals / consents as specified in the Share Subscription and Purchase Agreement.HIL Limited (NSEI:HIL) completed the acquisition of Crestia Polytech Private Limited for INR 1.6 billion on April 24, 2024. Buy Or Sell Opportunity • Apr 18
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.4% to ₹2,686. The fair value is estimated to be ₹3,442, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 348% in the next 2 years. Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Arvind Sahay was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Mar 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 4.2% to ₹2,684. The fair value is estimated to be ₹3,372, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 348% in the next 2 years. 공시 • Mar 12
HIL Limited (NSEI:HIL) agreed to acquire Crestia Polytech Private Limited for INR 900 million. HIL Limited (NSEI:HIL) agreed to acquire Crestia Polytech Private Limited for INR 900 million on March 11, 2024. The consideration consists of INR 900 million in cash. As part of the consideration, INR 900 million was paid towards common equity. Crestia Polytech Private Limited reported the revenue of INR 1.6 billion for the financial year 2023. The board of directors of the HIL Limited (NSEI:HIL) approved the acquisition of 100% equity share capital of Crestia Polytech Private Limited. The completion of this acquisition is contingent upon the fulfillment of various conditions precedent as agreed between the parties and receipt of relevant approvals / consents as specified in the Share Subscription and Purchase Agreement (“SSPA”). Buy Or Sell Opportunity • Mar 11
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.7% to ₹2,700. The fair value is estimated to be ₹3,447, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.8% over the last 3 years. Earnings per share has declined by 41%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 348% in the next 2 years. Upcoming Dividend • Feb 05
Upcoming dividend of ₹15.00 per share at 1.7% yield Eligible shareholders must have bought the stock before 12 February 2024. Payment date: 03 March 2024. Payout ratio is a comfortable 48% and the cash payout ratio is 100%. Trailing yield: 1.7%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.4%). Declared Dividend • Feb 04
Dividend reduced to ₹15.00 Dividend of ₹15.00 is 25% lower than last year. Ex-date: 12th February 2024 Payment date: 3rd March 2024 Dividend yield will be 1.4%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is covered by both earnings (48% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 194% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 03
Third quarter 2024 earnings released: ₹9.52 loss per share (vs ₹16.65 profit in 3Q 2023) Third quarter 2024 results: ₹9.52 loss per share (down from ₹16.65 profit in 3Q 2023). Revenue: ₹7.94b (up 3.5% from 3Q 2023). Net loss: ₹71.8m (down 157% from profit in 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. 공시 • Feb 03
HIL Limited Declares Interim Dividend for the Financial Year 2023-24 The Board of Directors of HIL Limited at its meeting held on February 2, 2024 has, declared interim dividend of INR 15 per equity share of INR 10 each (i.e. 150%) for the financial year 2023-24, fixed February 12, 2024 as record date and the said interim dividend will be paid to those members whose name appears in Register of Members (both physical & electronic mode) as on said record date. The Interim Dividend will be paid to the entitled members within 30 days from the date of declaration. 공시 • Jan 23
HIL Limited to Report Q3, 2024 Results on Feb 02, 2024 HIL Limited announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 02
Second quarter 2024 earnings released: ₹20.94 loss per share (vs ₹9.01 loss in 2Q 2023) Second quarter 2024 results: ₹20.94 loss per share (further deteriorated from ₹9.01 loss in 2Q 2023). Revenue: ₹7.28b (down 4.7% from 2Q 2023). Net loss: ₹157.8m (loss widened 133% from 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.0% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. 공시 • Oct 28
HIL Limited to Report Q2, 2024 Results on Nov 01, 2023 HIL Limited announced that they will report Q2, 2024 results on Nov 01, 2023 공시 • Sep 02
HIL Limited Approves Executive Changes HIL Limited at its meeting held on September 1, 2023 approved the resignation of Mr. Kamal Saboo as Company Secretary and Compliance Officer of the Company with effect from September 1, 2023. The company approved appointment of Ms. Nidhi Bisaria as the Company Secretary and Compliance Officer of the Company with effect from September 2, 2023. Ms. Nidhi Bisaria is an experienced company secretary with a strong background in corporate governance, legal compliance, and executive support. She has over 20 years’ experience with proven ability to navigate complex regulatory landscapes, streamline board operations/processes, and facilitate transparent communication. She is adept at ensuring organizational compliance while enabling strategic growth and effective decision-making. Further, Ms. Nidhi has been associated with CK Birla Group since year 2017 as the Company Secretary & Compliance Officer of one of the listed companies of the Group, Orient Cement Limited. Prior to joining CK Birla Group, she was the Company Secretary & Compliance Officer of Dalmia Bharat Limited and has worked with various other Dalmia Group companies. Ms. Nidhi is a Commerce and Law Graduate from C.C.S. University, Meerut and Fellow Member of the Institute of Company Secretaries of India. New Risk • Aug 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Upcoming Dividend • Jul 14
Upcoming dividend of ₹25.00 per share at 1.5% yield Eligible shareholders must have bought the stock before 21 July 2023. Payment date: 29 August 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 1.5%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (0.5%). Reported Earnings • Jul 10
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: ₹129 (down from ₹281 in FY 2022). Revenue: ₹34.8b (down 1.2% from FY 2022). Net income: ₹971.0m (down 54% from FY 2022). Profit margin: 2.8% (down from 6.0% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%. Revenue is forecast to grow 9.6% p.a. on average during the next 2 years, compared to a 5.7% decline forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Jul 08
HIL Limited Recommends Interim Dividend and Final Dividend for the Financial Year 2022-23 HIL Limited announced that at its 76th Annual General Meeting to be held on Monday, July 31, 2023, proposed To confirm the payment of Interim Dividend of INR 20 (i.e. 200%) per Equity Share of INR 10 each and to declare a Final Dividend of INR 25 (i.e. 250%) per Equity Share of INR 10 each for the financial year 2022-23. 공시 • Jun 17
HIL Limited, Annual General Meeting, Jul 31, 2023 HIL Limited, Annual General Meeting, Jul 31, 2023, at 15:00 Indian Standard Time. Reported Earnings • May 16
Full year 2023 earnings released: EPS: ₹129 (vs ₹281 in FY 2022) Full year 2023 results: EPS: ₹129 (down from ₹281 in FY 2022). Revenue: ₹35.0b (flat on FY 2022). Net income: ₹971.1m (down 54% from FY 2022). Profit margin: 2.8% (down from 6.0% in FY 2022). Revenue is forecast to grow 9.1% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jan 30
Upcoming dividend of ₹20.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 06 February 2023. Payment date: 26 February 2023. Payout ratio is a comfortable 24% but the company is paying out more than the cash it is generating. Trailing yield: 1.8%. Within top quartile of Indian dividend payers (1.6%). Higher than average of industry peers (0.9%). Reported Earnings • Jan 28
Third quarter 2023 earnings released: EPS: ₹16.65 (vs ₹45.49 in 3Q 2022) Third quarter 2023 results: EPS: ₹16.65 (down from ₹45.49 in 3Q 2022). Revenue: ₹7.68b (down 6.5% from 3Q 2022). Net income: ₹125.3m (down 63% from 3Q 2022). Profit margin: 1.6% (down from 4.2% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Jan 28
HIL Limited Declares Interim Dividend HIL Limited declared interim dividend of INR 20 per equity share of INR 10 each (i.e. 200%) for the financial year 2022-23, Fixed Monday, February 6, 2023 as record date and the said interim dividend will be paid to those members whose name appears in Register of Members (both physical &electronic mode) as on Record date. Payment of the said interim dividend will be processed within 30 days from the date of declaration, at the Board meeting held on January 27, 2023. 공시 • Jan 19
HIL Limited to Report Q3, 2023 Results on Jan 27, 2023 HIL Limited announced that they will report Q3, 2023 results on Jan 27, 2023 Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 37% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from ₹37.6b to ₹34.7b. EPS estimate also fell from ₹281 per share to ₹177 per share. Net income forecast to grow 13% next year vs 21% growth forecast for Basic Materials industry in India. Consensus price target down from ₹4,794 to ₹3,657. Share price was steady at ₹2,640 over the past week. Price Target Changed • Nov 16
Price target decreased to ₹3,657 Down from ₹4,794, the current price target is provided by 1 analyst. New target price is 39% above last closing price of ₹2,640. Stock is down 40% over the past year. The company is forecast to post earnings per share of ₹177 for next year compared to ₹281 last year. Reported Earnings • Nov 05
Second quarter 2023 earnings released: ₹9.01 loss per share (vs ₹34.85 profit in 2Q 2022) Second quarter 2023 results: ₹9.01 loss per share (down from ₹34.85 profit in 2Q 2022). Revenue: ₹7.71b (flat on 2Q 2022). Net loss: ₹67.7m (down 126% from profit in 2Q 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Basic Materials industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. 공시 • Oct 28
HIL Limited to Report Q2, 2023 Results on Nov 04, 2022 HIL Limited announced that they will report Q2, 2023 results on Nov 04, 2022 Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹2,753, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 29x in the Basic Materials industry in India. Total returns to shareholders of 131% over the past three years. Major Estimate Revision • Aug 06
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from ₹314 to ₹281 per share. Revenue forecast steady at ₹37.6b. Net income forecast to grow 13% next year vs 11% growth forecast for Basic Materials industry in India. Consensus price target broadly unchanged at ₹4,794. Share price was steady at ₹3,559 over the past week. 공시 • Jul 19
HIL Limited to Report Q1, 2023 Results on Jul 29, 2022 HIL Limited announced that they will report Q1, 2023 results on Jul 29, 2022 Upcoming Dividend • Jul 14
Upcoming dividend of ₹45.00 per share Eligible shareholders must have bought the stock before 21 July 2022. Payment date: 28 August 2022. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of Indian dividend payers (1.8%). Higher than average of industry peers (1.0%). Reported Earnings • Jul 10
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: ₹281 (down from ₹286 in FY 2021). Revenue: ₹35.2b (up 16% from FY 2021). Net income: ₹2.10b (down 1.8% from FY 2021). Profit margin: 6.0% (down from 7.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) missed analyst estimates by 1.3%. Over the next year, revenue is forecast to grow 7.5%, compared to a 15% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year whereas the company’s share price has increased by 32% per year. 공시 • Jul 09
HIL Limited Recommends Final Dividend for the Year 2021- 2022 HIL Limited recommended a final dividend of INR 25 per equity share of INR 10 each (250% of the paid-up value) and an additional final dividend of INR 20 per equity share of INR 10 each (200% of the paid-up value) to commemorate the celebration of Platinum Jubilee on completion of 75 years of incorporation for consideration and approval at the upcoming 75th Annual General Meeting of the Company. With the proposed final dividends, the total dividend for the year 2021-22 works out to be INR 65 per equity share (650% of the paid- up value) as against the total dividend of INR 40 per equity share (400% of the paid-up value) declared in the previous year. The Register of Members and Share Transfer Books of the Company will remain closed from July 23, 2022 to July 29, 2022, both days inclusive, for determining the entitlement of the shareholders for the final dividend for the financial year ended March 31, 2022 and for annual book closure. The Record Date for payment of final dividend is July 22, 2022 for determining the entitlement of members for final dividend for the financial year 2021-22. Price Target Changed • May 18
Price target decreased to ₹4,798 Down from ₹5,538, the current price target is provided by 1 analyst. New target price is 40% above last closing price of ₹3,432. Stock is down 24% over the past year. The company is forecast to post earnings per share of ₹331 for next year compared to ₹281 last year. Reported Earnings • May 08
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹281 (down from ₹286 in FY 2021). Revenue: ₹35.5b (up 17% from FY 2021). Net income: ₹2.10b (down 1.8% from FY 2021). Profit margin: 5.9% (down from 7.0% in FY 2021). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 100%. Earnings per share (EPS) also missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 1.7%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Additional Independent Director Velloor Ranganathan was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 19
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Additional Independent Director Velloor Ranganathan was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Feb 01
Upcoming dividend of ₹20.00 per share Eligible shareholders must have bought the stock before 08 February 2022. Payment date: 26 February 2022. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 1.1%. Lower than top quartile of Indian dividend payers (1.4%). In line with average of industry peers (1.0%). Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹45.49 (down from ₹70.11 in 3Q 2021). Revenue: ₹8.21b (up 2.3% from 3Q 2021). Net income: ₹341.5m (down 35% from 3Q 2021). Profit margin: 4.2% (down from 6.5% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. 공시 • Jan 28
HIL Limited Declares Interim Dividend for the Financial Year 2021-22 HIL Limited announced that at its board meeting held on January 27, 2022, the board declared the payment of interim dividend of INR 20 (200%) per equity shares of face value of INR 10 each for the financial year 2021-22. Fixed February 09, 2022 as the Record Date to determine the eligible shareholders whose names appear in the Register of Members (Both Physical & Electronic mode). Eligible members will be paid said Interim Dividend within 30 days from the date of declaration. Price Target Changed • Nov 02
Price target decreased to ₹5,538 Down from ₹6,745, the current price target is provided by 1 analyst. New target price is 19% above last closing price of ₹4,665. Stock is up 177% over the past year. The company posted earnings per share of ₹286 last year. Reported Earnings • Oct 30
Second quarter 2022 earnings released: EPS ₹34.85 (vs ₹65.09 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹7.66b (up 8.8% from 2Q 2021). Net income: ₹261.1m (down 46% from 2Q 2021). Profit margin: 3.4% (down from 6.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Recent Insider Transactions • Oct 02
Chief Financial Officer recently sold ₹645k worth of stock On the 29th of September, Karuppan Veerappan sold around 127 shares on-market at roughly ₹5,079 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹95m. Karuppan has been a seller over the last 12 months, reducing personal holdings by ₹17m. 
