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5040

Hind Rectifiers BSE:504036 Stock Report

Last Price

₹222.15

Market Cap

₹3.7b

7D

-2.7%

1Y

15.6%

Updated

28 Sep, 2022

Data

Company Financials
504036 fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance2/6
Financial Health4/6
Dividends2/6

504036 Stock Overview

Hind Rectifiers Limited develops, designs, manufactures, and markets power semiconductor devices, power electronic equipment, and railway transportation equipment in India and internationally.

Hind Rectifiers Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Hind Rectifiers
Historical stock prices
Current Share Price₹222.15
52 Week High₹286.00
52 Week Low₹152.90
Beta0.56
1 Month Change29.23%
3 Month Change24.11%
1 Year Change15.58%
3 Year Change44.11%
5 Year Change93.43%
Change since IPO1,129.61%

Recent News & Updates

Shareholder Returns

504036IN ElectricalIN Market
7D-2.7%-3.8%-4.4%
1Y15.6%15.9%-1.9%

Return vs Industry: 504036 underperformed the Indian Electrical industry which returned 17.5% over the past year.

Return vs Market: 504036 exceeded the Indian Market which returned -1.2% over the past year.

Price Volatility

Is 504036's price volatile compared to industry and market?
504036 volatility
504036 Average Weekly Movement8.8%
Electrical Industry Average Movement6.8%
Market Average Movement5.9%
10% most volatile stocks in IN Market9.2%
10% least volatile stocks in IN Market3.8%

Stable Share Price: 504036 is more volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: 504036's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of Indian stocks.

About the Company

FoundedEmployeesCEOWebsite
1958445Sh. Nevatiahttps://hirect.com

Hind Rectifiers Limited develops, designs, manufactures, and markets power semiconductor devices, power electronic equipment, and railway transportation equipment in India and internationally. It offers IGBT-based converters, transformers, auxiliary panels, electronics for 3 phase locomotives, and LHB coaches; electrostatic high voltage power supplies for a pollution control system for the power sector; and large power supplies for electrolysis and electrochemical process equipment. The company also provides various traction and aux transformers, IGBT propulsion systems, auxiliary converters and battery chargers, on-board DC rectifiers, traction motors, electrical switch boards, safety and protection electronics, and rolling stock HVAC systems, as well as electrostatic precipitator, power quality improvement, special rectifiers, and power rectifiers for electrochemical industries.

Hind Rectifiers Fundamentals Summary

How do Hind Rectifiers's earnings and revenue compare to its market cap?
504036 fundamental statistics
Market Cap₹3.68b
Earnings (TTM)₹39.80m
Revenue (TTM)₹3.71b

92.4x

P/E Ratio

1.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
504036 income statement (TTM)
Revenue₹3.71b
Cost of Revenue₹2.94b
Gross Profit₹777.65m
Other Expenses₹737.85m
Earnings₹39.80m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 14, 2022

Earnings per share (EPS)2.40
Gross Margin20.94%
Net Profit Margin1.07%
Debt/Equity Ratio69.8%

How did 504036 perform over the long term?

See historical performance and comparison

Dividends

0.2%

Current Dividend Yield

17%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is 504036 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 504036?

Other financial metrics that can be useful for relative valuation.

504036 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA27.8x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does 504036's PE Ratio compare to its peers?

504036 PE Ratio vs Peers
The above table shows the PE ratio for 504036 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average26.7x
MARINE Marine Electricals (India)
24xn/a₹3.6b
517059 Salzer Electronics
14.4xn/a₹3.9b
540795 Dynamic Cables
9.4xn/a₹3.1b
526445 Indrayani Biotech
59.1xn/a₹3.3b
504036 Hind Rectifiers
92.4xn/a₹3.7b

Price-To-Earnings vs Peers: 504036 is expensive based on its Price-To-Earnings Ratio (92.4x) compared to the peer average (26.7x).


Price to Earnings Ratio vs Industry

How does 504036's PE Ratio compare vs other companies in the IN Electrical Industry?

Price-To-Earnings vs Industry: 504036 is expensive based on its Price-To-Earnings Ratio (92.4x) compared to the Indian Electrical industry average (22x)


Price to Earnings Ratio vs Fair Ratio

What is 504036's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

504036 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio92.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 504036's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of 504036 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 504036 (₹222.15) is trading above our estimate of fair value (₹158.62)

Significantly Below Fair Value: 504036 is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Hind Rectifiers forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


18.7%

Forecasted Capital Goods industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Hind Rectifiers has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


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  • Examine Hind Rectifiers's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  • Hind Rectifiers competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Hind Rectifiers performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


20.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 504036 has high quality earnings.

Growing Profit Margin: 504036's current net profit margins (1.1%) are lower than last year (2%).


Past Earnings Growth Analysis

Earnings Trend: 504036 has become profitable over the past 5 years, growing earnings by 20% per year.

Accelerating Growth: 504036's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 504036 had negative earnings growth (-38.9%) over the past year, making it difficult to compare to the Electrical industry average (33.7%).


Return on Equity

High ROE: 504036's Return on Equity (3.7%) is considered low.


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Financial Health

How is Hind Rectifiers's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: 504036's short term assets (₹1.6B) exceed its short term liabilities (₹1.1B).

Long Term Liabilities: 504036's short term assets (₹1.6B) exceed its long term liabilities (₹264.8M).


Debt to Equity History and Analysis

Debt Level: 504036's net debt to equity ratio (69.5%) is considered high.

Reducing Debt: 504036's debt to equity ratio has reduced from 73.3% to 69.8% over the past 5 years.

Debt Coverage: 504036's debt is well covered by operating cash flow (48.4%).

Interest Coverage: 504036's interest payments on its debt are not well covered by EBIT (1.9x coverage).


Balance Sheet


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Dividend

What is Hind Rectifiers's current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


0.18%

Current Dividend Yield

Dividend Yield vs Market

Hind Rectifiers Dividend Yield vs Market
How does Hind Rectifiers dividend yield compare to the market?
SegmentDividend Yield
Company (Hind Rectifiers)0.2%
Market Bottom 25% (IN)0.4%
Market Top 25% (IN)1.6%
Industry Average (Electrical)0.6%
Analyst forecast in 3 Years (Hind Rectifiers)n/a

Notable Dividend: 504036's dividend (0.18%) isn’t notable compared to the bottom 25% of dividend payers in the Indian market (0.36%).

High Dividend: 504036's dividend (0.18%) is low compared to the top 25% of dividend payers in the Indian market (1.64%).


Stability and Growth of Payments

Stable Dividend: 504036's dividend payments have been volatile in the past 10 years.

Growing Dividend: 504036's dividend payments have fallen over the past 10 years.


Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (16.6%), 504036's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (4.1%), 504036's dividend payments are thoroughly covered by cash flows.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.9yrs

Average management tenure


CEO

Sh. Nevatia

2.08yrs

Tenure

₹3,871,000

Compensation

Mr. Sh. Suramya Nevatia serves as Chief Executive Officer and Director of Hind Rectifiers Limited since August 17, 2020 and has been its Managing Director since November 11, 2020. He served as Joint Managi...


CEO Compensation Analysis

Sh. Nevatia's Compensation vs Hind Rectifiers Earnings
How has Sh. Nevatia's remuneration changed compared to Hind Rectifiers's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

₹40m

Mar 31 2022n/an/a

₹78m

Dec 31 2021n/an/a

₹71m

Sep 30 2021n/an/a

₹70m

Jun 30 2021n/an/a

₹65m

Mar 31 2021₹4m₹1m

₹53m

Dec 31 2020n/an/a

₹65m

Sep 30 2020n/an/a

₹90m

Jun 30 2020n/an/a

₹136m

Mar 31 2020₹7m₹6m

₹185m

Dec 31 2019n/an/a

₹214m

Sep 30 2019n/an/a

₹208m

Jun 30 2019n/an/a

₹157m

Mar 31 2019₹2m₹2m

₹118m

Compensation vs Market: Sh.'s total compensation ($USD47.41K) is about average for companies of similar size in the Indian market ($USD40.46K).

Compensation vs Earnings: Sh.'s compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 504036's management team is seasoned and experienced (5.9 years average tenure).


Board Members

Experienced Board: 504036's board of directors are considered experienced (7.6 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of 504036?
Owner TypeNumber of SharesOwnership Percentage
Private Companies203,3331.2%
State or Government226,3601.4%
Institutions952,4925.8%
Public Companies2,400,00014.5%
General Public3,389,05720.5%
Individual Insiders9,392,48156.7%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 75.57% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
21.85%
Saurabh Nevatia
3,619,938₹804.2m0%no data
14.49%
Schneider Electric S.E.
2,400,000₹533.2m0%no data
12.22%
Suramya Nevatia
2,024,768₹449.8m0%no data
2.97%
Bronte Capital Management Pty Ltd.
492,347₹109.4m0%0.15%
2.9%
Nirajkumar Bajaj
479,553₹106.5m0%no data
2.85%
Suryansh Nevatia
472,000₹104.9m0%no data
2.78%
Habrok Capital Management LLP
460,145₹102.2m0%5.92%
2.14%
Shreeya Nevatia
355,200₹78.9m0%no data
1.64%
Bharti Nevatia
271,100₹60.2m0%no data
1.51%
Surabhi Golyan
250,000₹55.5m0%no data
1.4%
Veena Jagwani
232,200₹51.6m0%no data
1.37%
Investor Education and Protection Fund (IEPF)
226,360₹50.3m0%no data
1.29%
Sunaina Kejriwal
213,180₹47.4m0%no data
0.94%
Contemporary Industries Limited
154,961₹34.4m0%no data
0.91%
Dilip Maloo
150,000₹33.3m0%no data
0.85%
Sanjivnayan Bajaj
140,250₹31.2m0%no data
0.51%
Rajivnayan Bajaj
84,150₹18.7m0%no data
0.47%
Shefali Bajaj
78,540₹17.4m0%no data
0.46%
Vinod Ohri
76,660₹17.0m0%no data
0.39%
Rajesh Agrawal
64,653₹14.4m0%no data
0.37%
Bhavna Desai
60,489₹13.4m0%no data
0.36%
Kumud Bajaj
59,517₹13.2m0%no data
0.31%
Suman Jain
51,000₹11.3m0%no data
0.31%
Vandan Shah
50,655₹11.3m0%no data
0.3%
Udayan Desai
50,000₹11.1m0%no data

Company Information

Hind Rectifiers Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Hind Rectifiers Limited
  • Ticker: 504036
  • Exchange: BSE
  • Founded: 1958
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Implied Market Cap: ₹3.680b
  • Shares outstanding: 16.56m
  • Website: https://hirect.com

Number of Employees


Location

  • Hind Rectifiers Limited
  • Lake Road
  • Bhandup (West)
  • Mumbai
  • Maharashtra
  • 400078
  • India


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
504036BSE (Mumbai Stock Exchange)YesEquity SharesININRMay 2005
HIRECTNSEI (National Stock Exchange of India)YesEquity SharesININRMay 2005

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2022/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.