New Risk • May 20
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 10% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risk High level of debt (113% net debt to equity). Announcement • May 18
Hind Rectifiers Limited announced that it expects to receive INR 999.999903 million in funding Hind Rectifiers Limited announced a private placement to issue 1,086,366 Equity shares at an issue price of INR 920.50 for the proceeds of INR 999,999,903 on May 16, 2026. Transaction involves participation of Tata Mutual Fund (Small Cap Fund), Non-promoter - Institution (Mutual fund). Transaction is approved by board of directors and is still subject to shareholder and regulatory approval. Reported Earnings • May 17
Full year 2026 earnings released: EPS: ₹13.10 (vs ₹10.82 in FY 2025) Full year 2026 results: EPS: ₹13.10 (up from ₹10.82 in FY 2025). Revenue: ₹10.0b (up 53% from FY 2025). Net income: ₹450.1m (up 21% from FY 2025). Profit margin: 4.5% (down from 5.7% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has increased by 106% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹840, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 27x in the Electrical industry in India. Total returns to shareholders of 720% over the past three years. New Risk • Mar 30
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 8.1% 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: Minor Risks High level of debt (96% net debt to equity). Share price has been volatile over the past 3 months (8.1% average weekly change). Announcement • Mar 23
Hind Rectifiers Limited Announces Availability of Advanced Copper Conductors for High-Power Transformers Hind Rectifiers Limited announced the commercial availability of its new, high-performance copper products: Continuously Transposed Conductors (CTC), Paper Insulated Copper Conductors (PICC), and Enameled Paper Insulated Copper Conductors (EPICC). Manufactured at HIRECT's newly inaugurated copper processing plant in Sinnar, Nashik, these advanced conductors are engineered specifically to meet the rigorous demands of transformers, traction motors, and other high-power wound components. These conductors will support key infrastructure segments including power grids, railway rolling stock and catenary power supply systems, and industrial power networks. With this development, the company aims to strengthen its position in the transformer supply chain while expanding its presence in global markets through targeted exports. HIRECT's new production lines offer flexibility in both conductor sizing and insulation layers: Continuously Transposed Conductors (CTC): Optimized for high-efficiency transformers, the CTC lines can handle anywhere from 5 to 63 strands per conductor. Strand dimensions are highly customizable, ranging from 2.5 mm to 12.0 mm in width and 1.0 mm to 5.0 mm in thickness, with transposition pitches adjustable between 25 mm and 200 mm. PICC and EPICC: The Paper Insulated lines can cover copper widths up to 20 mm and thickness up to 8 mm. Advanced Insulation Capabilities: HIRECT's enameling lines can apply four distinct types of coating insulation to suit various thermal and electrical classes. For paper insulation, the advanced machinery can tightly wrap up to 32 layers in a single pass for CTC, and up to 8 layers in a single pass for PICC. Overall insulation thickness can be precisely controlled between 0.25 mm and 5 mm. To maintain optimal manufacturing conditions for consistent quality, the entire CTC production area is housed in a dust-free and air-conditioned environment. HIRECT's Sinnar facility is ISO 9001:2015 certified and operates extensive in-house testing labs—including dielectric dissipation (Tan Delta), high voltage breakdown, interstrand shorts, proof stress - covering all key tests related to CTC, PICC and Enameled PICC. This ensures that every spool meets the highest international quality and performance standards. Reported Earnings • Feb 12
Third quarter 2026 earnings released: EPS: ₹7.58 (vs ₹5.84 in 3Q 2025) Third quarter 2026 results: EPS: ₹7.58 (up from ₹5.84 in 3Q 2025). Revenue: ₹2.78b (up 64% from 3Q 2025). Net income: ₹130.1m (up 30% from 3Q 2025). Profit margin: 4.7% (down from 5.9% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 87% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,429, the stock trades at a trailing P/E ratio of 51.7x. Average trailing P/E is 25x in the Electrical industry in India. Total returns to shareholders of 583% over the past three years. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: ₹8.58 (vs ₹5.95 in 2Q 2025) Second quarter 2026 results: EPS: ₹8.58 (up from ₹5.95 in 2Q 2025). Revenue: ₹2.27b (up 37% from 2Q 2025). Net income: ₹147.2m (up 45% from 2Q 2025). Profit margin: 6.5% (up from 6.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 103% per year whereas the company’s share price has increased by 101% per year. Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,853, the stock trades at a trailing P/E ratio of 73.8x. Average trailing P/E is 38x in the Electrical industry in India. Total returns to shareholders of 696% over the past three years. Announcement • Oct 03
Hind Rectifiers Limited announced that it has received INR 68.4115 million in funding from Elventive Tech Private Limited On October 1, 2025. Hind Rectifiers Limited announced that it has closed the transaction. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹1,653, the stock trades at a trailing P/E ratio of 66x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 867% over the past three years. Announcement • Jul 29
Hind Rectifiers Limited announced that it expects to receive INR 68.4115 million in funding from Elventive Tech Private Limited Hind Rectifiers Limited announced a private placement of 200,000 fully convertible warrants at an issue price of INR 342.0575 for gross proceeds of INR 68,411,500 on July 29, 2025. The transaction includes participation from Elventive Tech Private Limited. The warrants are fully convertible into equal number of Equity Shares of face value of INR 2 each, Each Warrant is convertible into 1 Equity Share and the conversion can be exercised at any time within a period of 18 months from the date of allotment, in one or more tranches, as the case may be and on such other terms and conditions as applicable. The transaction has been approved by board of directors of the company. New Risk • Jul 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.8% average weekly change). Minor Risk High level of debt (99% net debt to equity). Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to ₹1,712, the stock trades at a trailing P/E ratio of 79.2x. Average trailing P/E is 40x in the Electrical industry in India. Total returns to shareholders of 851% over the past three years. Upcoming Dividend • Jul 17
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 22 July 2025. Payment date: 28 August 2025. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (0.4%). Reported Earnings • Jul 04
Full year 2025 earnings released: EPS: ₹21.64 (vs ₹7.31 in FY 2024) Full year 2025 results: EPS: ₹21.64 (up from ₹7.31 in FY 2024). Revenue: ₹6.55b (up 27% from FY 2024). Net income: ₹371.1m (up 197% from FY 2024). Profit margin: 5.7% (up from 2.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year whereas the company’s share price has increased by 92% per year. Declared Dividend • Jul 03
Dividend increased to ₹2.00 Dividend of ₹2.00 is 67% higher than last year. Ex-date: 22nd July 2025 Payment date: 28th August 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • May 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risk High level of debt (99% net debt to equity). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹1,106, the stock trades at a trailing P/E ratio of 51.1x. Average trailing P/E is 39x in the Electrical industry in India. Total returns to shareholders of 480% over the past three years. Reported Earnings • May 07
Full year 2025 earnings released: EPS: ₹21.64 (vs ₹7.31 in FY 2024) Full year 2025 results: EPS: ₹21.64 (up from ₹7.31 in FY 2024). Revenue: ₹6.57b (up 27% from FY 2024). Net income: ₹371.1m (up 197% from FY 2024). Profit margin: 5.7% (up from 2.4% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Announcement • May 06
Hind Rectifiers Limited Recommends Final Dividend for the Financial Year 2024-2025 Hind Rectifiers Limited Considered and recommended final dividend of INR 2 per equity share (100% of face value of INR 2/- each), for the financial year 2024-25, subject To Approve the members of the Company, which shall be paid within 30 days from the conclusion of the ensuing Annual General Meeting, if approved. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹995, the stock trades at a trailing P/E ratio of 52.5x. Average trailing P/E is 35x in the Electrical industry in India. Total returns to shareholders of 422% over the past three years. New Risk • Feb 19
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 8.0% 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: Minor Risks High level of debt (91% net debt to equity). Share price has been volatile over the past 3 months (8.0% average weekly change). Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: ₹5.84 (vs ₹0.89 in 3Q 2024) Third quarter 2025 results: EPS: ₹5.84 (up from ₹0.89 in 3Q 2024). Revenue: ₹1.69b (up 24% from 3Q 2024). Net income: ₹100.1m (up ₹84.9m from 3Q 2024). Profit margin: 5.9% (up from 1.1% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 78% per year whereas the company’s share price has increased by 74% per year. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹1,061, the stock trades at a trailing P/E ratio of 76.9x. Average trailing P/E is 42x in the Electrical industry in India. Total returns to shareholders of 372% over the past three years. Announcement • Nov 25
Hind Rectifiers Limited Announces Resignation of Anil Mehta as Joint Chief Financial Officer, Effective November 29, 2024 Hind Rectifiers Limited informed that Mr. Anil Mehta, Joint Chief Financial Officer and Key Managerial Personnel (KMP), has resigned from his position with the Company. His last working day with the Company will be November 29, 2024. Reported Earnings • Oct 31
Second quarter 2025 earnings released: EPS: ₹5.95 (vs ₹2.32 in 2Q 2024) Second quarter 2025 results: EPS: ₹5.95 (up from ₹2.32 in 2Q 2024). Revenue: ₹1.66b (up 26% from 2Q 2024). Net income: ₹101.9m (up 156% from 2Q 2024). Profit margin: 6.1% (up from 3.0% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 30
Hind Rectifiers Limited Announces Executive Changes Hind Rectifiers Limited informed that a meeting of the Nomination and Remuneration Committee of the Company was held on October 30, 2024 approved Mr. Lalit Tejwani, has been designated as Chief Strategy Officer (Genior Management Personal) Mr. K. R. Narayan, has been designated as Chief Revenue Officer (Senior Management Personal) These changes are effective immediately, following the recommendation of the Nomination and Remuneration Committee, and were approved by the Board of Directors at its meeting held October 30, 2024. The categorization of the above officers as Senior Management Personnel has also been approved/changed. Mr. Lalit Tejwani, currently serving as the Chief Marketing Officer of the Company, has been designated as Chief Strategy Officer of the Company effective October 30, 2024 Mr. Lalit Tejwani, Chief Strategy Officer, is responsible for shaping the Company's strategic direction and fostering long-term growth. He leads efforts to identify new business opportunities, assess market trends, and leverage competitive insights to ensure alignment with the Company's vision. A key part of his role is to identify and evaluate acquisition opportunities that drive inorganic growth, expanding the Company's reach and market presence. Mr. Tejwani works closely with cross-functional teams to ensure the effective execution of strategic initiatives, optimizing resources and _ enhancing operational efficiency. His expertise in strategic planning and building high- impact partnerships has been instrumental in strengthening the Company's position in a rapidly evolving market. Mr. K. R. Narayan, currently serving as the Vice President Marketing of the Company, has been designated as Chief Revenue Officer of the Company effective October 30, 2024 Mr. K. R. Narayan, Chief Revenue Officer, is a seasoned Power Electronic Engineer with over 35 years of expertise in application-based sales an marketing for industrial segments, including semiconductors, electrostatic pollution control, and electrochemical industries in both Indian and global markets. He has also worked extensively in rail transportation with Indian Railways. Mr. Narayan has played a vital role in the Company's growth leveraging his deep industry knowledge and market insights to drive revenue and strengthen customer relationships. His strategic approach and technical acumen have been instrumental in expanding Hind Rectifiers' market footprint and fostering innovation within the organization. Announcement • Oct 22
Hind Rectifiers Limited to Report Q2, 2025 Results on Oct 30, 2024 Hind Rectifiers Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Reported Earnings • Jul 08
Full year 2024 earnings released: EPS: ₹7.31 (vs ₹3.84 loss in FY 2023) Full year 2024 results: EPS: ₹7.31 (up from ₹3.84 loss in FY 2023). Revenue: ₹5.18b (up 44% from FY 2023). Net income: ₹125.1m (up ₹188.7m from FY 2023). Profit margin: 2.4% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 65% per year, which means it is well ahead of earnings. Announcement • Jul 05
Hind Rectifiers Limited, Annual General Meeting, Aug 01, 2024 Hind Rectifiers Limited, Annual General Meeting, Aug 01, 2024, at 12:30 Indian Standard Time. Announcement • May 30
Hind Rectifiers Limited Recommends Final Dividend for the Financial Year 2023-2024 Hind Rectifiers Limited Considered and recommended final dividend of INR 1.20 per equity share (60% of face value of INR 2/- each), for the financial year 2023-2024, subject to approval of the members of the Company, which shall be paid/dispatched within 30 days from the conclusion of the up coming Annual General Meeting, if approved. Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹7.30 (vs ₹3.84 loss in FY 2023) Full year 2024 results: EPS: ₹7.30 (up from ₹3.84 loss in FY 2023). Revenue: ₹5.18b (up 44% from FY 2023). Net income: ₹125.1m (up ₹188.7m from FY 2023). Profit margin: 2.4% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 75% per year, which means it is well ahead of earnings. Announcement • May 23
Hind Rectifiers Limited to Report Q4, 2024 Results on May 28, 2024 Hind Rectifiers Limited announced that they will report Q4, 2024 results on May 28, 2024 New Risk • Feb 10
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 51% 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: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Earnings have declined by 42% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (3.5% increase in shares outstanding). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: ₹0.89 (vs ₹1.46 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.89 (down from ₹1.46 in 3Q 2023). Revenue: ₹1.37b (up 41% from 3Q 2023). Net income: ₹15.2m (down 37% from 3Q 2023). Profit margin: 1.1% (down from 2.5% in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has increased by 60% per year, which means it is well ahead of earnings. Announcement • Feb 01
Hind Rectifiers Limited to Report Q3, 2024 Results on Feb 08, 2024 Hind Rectifiers Limited announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹2.32 (vs ₹2.45 loss in 2Q 2023) Second quarter 2024 results: EPS: ₹2.32 (up from ₹2.45 loss in 2Q 2023). Revenue: ₹1.32b (up 70% from 2Q 2023). Net income: ₹39.8m (up ₹80.4m from 2Q 2023). Profit margin: 3.0% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 131 percentage points per year, which is a significant difference in performance. Board Change • Nov 08
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. 3 experienced directors. 4 highly experienced directors. Independent Non-Executive Additional Director Ashlesha Bodas was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Hind Rectifiers Limited to Report Q2, 2024 Results on Nov 04, 2023 Hind Rectifiers Limited announced that they will report Q2, 2024 results on Nov 04, 2023 Announcement • Aug 01
Hind Rectifiers Limited to Report Q1, 2024 Results on Aug 08, 2023 Hind Rectifiers Limited announced that they will report Q1, 2024 results on Aug 08, 2023 Reported Earnings • Aug 01
Full year 2023 earnings released: ₹3.84 loss per share (vs ₹4.71 profit in FY 2022) Full year 2023 results: ₹3.84 loss per share (down from ₹4.71 profit in FY 2022). Revenue: ₹3.59b (down 3.5% from FY 2022). Net loss: ₹63.6m (down 182% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 121 percentage points per year, which is a significant difference in performance. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 4 highly experienced directors. MD, CEO & Director Sh. Nevatia was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 30
Full year 2023 earnings released: ₹3.84 loss per share (vs ₹4.71 profit in FY 2022) Full year 2023 results: ₹3.84 loss per share (down from ₹4.71 profit in FY 2022). Revenue: ₹3.59b (down 3.4% from FY 2022). Net loss: ₹63.6m (down 182% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹1.46 (vs ₹0.79 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.46 (up from ₹0.79 in 3Q 2022). Revenue: ₹972.3m (up 3.2% from 3Q 2022). Net income: ₹24.2m (up 85% from 3Q 2022). Profit margin: 2.5% (up from 1.4% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₹2.45 loss per share (vs ₹2.04 profit in 2Q 2022) Second quarter 2023 results: ₹2.45 loss per share (down from ₹2.04 profit in 2Q 2022). Revenue: ₹777.0m (down 24% from 2Q 2022). Net loss: ₹40.6m (down 220% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 13
Second quarter 2023 earnings released: ₹2.45 loss per share (vs ₹2.04 profit in 2Q 2022) Second quarter 2023 results: ₹2.45 loss per share (down from ₹2.04 profit in 2Q 2022). Revenue: ₹777.0m (down 24% from 2Q 2022). Net loss: ₹40.6m (down 220% from profit in 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Sep 12
Investor sentiment improved over the past week After last week's 17% share price gain to ₹203, the stock trades at a trailing P/E ratio of 72.9x. Average trailing P/E is 24x in the Electrical industry in India. Total returns to shareholders of 47% over the past three years. Upcoming Dividend • Jul 25
Upcoming dividend of ₹0.40 per share Eligible shareholders must have bought the stock before 01 August 2022. Payment date: 08 September 2022. Payout ratio is a comfortable 8.5% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.7%). Lower than average of industry peers (0.6%). Reported Earnings • Jul 15
Full year 2022 earnings released: EPS: ₹4.71 (vs ₹3.22 in FY 2021) Full year 2022 results: EPS: ₹4.71 (up from ₹3.22 in FY 2021). Revenue: ₹3.72b (up 22% from FY 2021). Net income: ₹78.0m (up 46% from FY 2021). Profit margin: 2.1% (up from 1.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jul 14
Hind Rectifiers Limited to Report Q3, 2023 Results on Feb 14, 2023 Hind Rectifiers Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improved over the past week After last week's 17% share price gain to ₹182, the stock trades at a trailing P/E ratio of 36.8x. Average trailing P/E is 19x in the Electrical industry in India. Total returns to shareholders of 43% over the past three years. Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹4.71 (vs ₹3.22 in FY 2021) Full year 2022 results: EPS: ₹4.71 (up from ₹3.22 in FY 2021). Revenue: ₹3.72b (up 22% from FY 2021). Net income: ₹78.0m (up 46% from FY 2021). Profit margin: 2.1% (up from 1.7% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 15% share price gain to ₹212, the stock trades at a trailing P/E ratio of 47.1x. Average trailing P/E is 19x in the Electrical industry in India. Total returns to shareholders of 68% over the past three years. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.79 (up from ₹0.75 in 3Q 2021). Revenue: ₹941.9m (up 16% from 3Q 2021). Net income: ₹13.1m (up 4.8% from 3Q 2021). Profit margin: 1.4% (in line with 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 23% share price gain to ₹232, the stock trades at a trailing P/E ratio of 57.3x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 106% over the past three years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 18% share price gain to ₹201, the stock trades at a trailing P/E ratio of 41.1x. Average trailing P/E is 20x in the Electrical industry in India. Total returns to shareholders of 77% over the past three years. Reported Earnings • Nov 07
Second quarter 2022 earnings released: EPS ₹2.04 (vs ₹1.73 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹1.02b (up 1.3% from 2Q 2021). Net income: ₹33.8m (up 18% from 2Q 2021). Profit margin: 3.3% (up from 2.8% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improved over the past week After last week's 19% share price gain to ₹199, the stock trades at a trailing P/E ratio of 48.4x. Average trailing P/E is 26x in the Electrical industry in India. Total returns to shareholders of 65% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 22% share price gain to ₹185, the stock trades at a trailing P/E ratio of 38.9x. Average trailing P/E is 23x in the Electrical industry in India. Total returns to shareholders of 40% over the past three years. Upcoming Dividend • Jul 28
Upcoming dividend of ₹0.40 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 11 September 2021. Trailing yield: 0.3%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (0.6%).