Hirect Limited
NSE: HIRECT · Industrial Products · sector
₹965.90NSE close 2026-10-26
Key numbers
Market cap₹3,320 cr
Price₹965.90
52w high / low₹1,399 / ₹565
P/E78.3xSector median 24.2x
P/B15.9xSector median 2.8x
Book value₹60.7
Dividend yield0.11%Sector median 0.50%
ROE22.6%Sector median 11.5%
ROCE14.5%Sector median 13.4%
OPM7.2%Sector median 10.3%
Debt / equity1.13xSector median 0.17x
EV/EBITDA47.6xSector median 16.7x
Interest cover3.8x
Current ratio1.12x
Sales growth 3y+40.6%Sector median +10.2%
Profit growth 3y–Sector median +12.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 152 companies in Industrial Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹5 cr vs borrowings ₹237 cr (FY26): borrowings are higher by ₹232 cr.
- Borrowings rose in each of the last 3 years (₹105 cr → ₹237 cr).
- Operating profit covered interest 3.8x in the last 12 months.
- 8.92% of the promoters' shares are pledged (3.8% of all shares).
- Promoter holding fell by 1.34 percentage points in a year, to 42.59% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 5 years (FY25).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 14% of net profit in the last 12 months.
- Debtor days went from 63 (FY24) to 90 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹965.90 on 2026-10-26: -31.0% from the 52-week high, +70.9% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,984.40 · low ₹702.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166 | 169 | 185 | 215 | 227 | 277 | 280 | 258 |
| EBITDA | 18 | 18 | 20 | 24 | 26 | 24 | 8 | 17 |
| OPM % | 11.0% | 10.4% | 10.8% | 11.3% | 11.4% | 8.7% | 2.8% | 6.5% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 4 |
| Net profit | 10 | 10 | 10 | 13 | 15 | 13 | 4 | 9 |
| EPS (₹) | 2.98 | 2.92 | 2.92 | 3.72 | 4.29 | 3.79 | 1.52 | 2.74 |
| Revenue YoY | +37.0% | +64.2% | +51.2% | +20.3% | ||||
| Profit YoY | +44.5% | +30.0% | -55.0% | -26.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 372 | 359 | 518 | 655 | 999 | 1,043 |
| EBITDA | 22 | 4 | 37 | 70 | 82 | 75 |
| Net profit | 8 | -6 | 13 | 37 | 45 | 42 |
| EPS (₹) | 2.35 | -1.92 | 5.70 | 10.82 | 13.68 | 12.34 |
| Revenue growth | -3.5% | +44.1% | +26.6% | +52.5% | +42.0% | |
| Profit growth | -181.5% | – | +196.6% | +21.3% | -3.0% | |
| Dividend / share (₹) | 0.40 | 0.40 | – | 1.20 | 2.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +40.6% | +26.8% | +42.0% |
| Net profit | – | +53.2% | -3.0% |
| EPS | – | +53.4% | – |
| Share price | – | +39.6% (2y) | +34.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 112 | 125 | 160 | 209 |
| Borrowings | – | 105 | 129 | 159 | 237 |
| Cash & equivalents | – | 1 | 2 | 1 | 5 |
| Total assets | – | 292 | 331 | 417 | 662 |
| Fixed assets | – | 73 | 77 | 87 | 172 |
| Capital work in progress | – | 7 | 8 | 7 | 3 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 68 | 89 | 110 | 246 |
| Inventory | – | 92 | 97 | 121 | 149 |
| Payables | – | 53 | 47 | 60 | 119 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 36 | 8 | 34 | 36 | 86 |
| Cash from investing | -21 | -29 | -19 | -25 | -90 |
| Cash from financing | -16 | 21 | -14 | -11 | 8 |
| Capex | 20 | 0 | 14 | 23 | 97 |
| Free cash flow | 16 | 8 | 20 | 13 | -12 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -5.7% | 10.0% | 23.2% | 21.6% |
| ROCE % | – | -0.3% | 12.0% | 19.9% | 15.7% |
| Debtor days | – | 69 | 63 | 61 | 90 |
| Inventory days | – | 121 | 92 | 92 | 74 |
| Payable days | – | 69 | 45 | 46 | 59 |
| Cash conversion cycle (days) | – | 121 | 110 | 107 | 105 |
| Working capital days | – | 35 | 25 | 25 | 17 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 42.59% |
| FIIs | 6.84% |
| DIIs | 3.16% |
| of which Mutual funds | 3.06% |
| of which Insurance | 0.00% |
| Government | 0.00% |
| Public (non-institutions) | 47.40% |
| Quarter | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Mar 2026 | Jun 2026 | Jul 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 43.98% | 43.93% | 43.93% | 43.93% | 43.93% | 43.92% | 42.58% | 42.59% |
| Promoter group | % |
|---|---|
| Saurabh Sushil Nevatia | 20.35% |
| Suramya Saurabh Nevatia | 14.53% |
| Suryansh Saurabh Nevatia | 2.70% |
| Shriya Saurabh Nevatia | 2.03% |
| Bharti Saurabh Nevatia | 1.53% |
| Surabhi Golyan | 1.41% |
| Akshada Suramya Nevatia | 0.04% |
| Saurabh Nevatia (Karta of SUSHIL KUMAR NEVATIA HUF) | 0.00% |
| Adiv Nevatia | 0.00% |
| Nurvi Nevatia | 0.00% |
| SAURABH NEVATIA (Karta of Saurabh Nevatia HUF) | 0.00% |
| Elventive Tech Private Limited | 0.00% |
| Force Motion Technology Private Limited | 0.00% |
| Caelora Capital FZCO | 0.00% |
| Elventive France (Formerly known as BELINK HIRECT SAS) | 0.00% |
| Public holders above 1% | % |
|---|---|
| BTR Industries Ltd | 6.77% |
| Tata Mutual Fund - Tata Small CAP Fund | 3.06% |
| Cassini Partners L.P. Managed BY Habrok | 2.85% |
| Habrok India Master LP | 2.65% |
| Niraj Bajaj . | 1.69% |
| Mukul Mahavir Agrawal | 1.41% |
| Investor Education and Protection Fund A | 1.37% |
22,375 shareholders. Pledged: 8.92% of promoter shares.
Peers in Industrial Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| INDOMIM | ₹52,085 cr | – | – | – | – | – | – | – |
| CPPLUS | ₹45,577 cr | 94.7x | 24.3x | 25.5% | 33.3% | 14.5% | – | 0.04% |
| SYRMA | ₹28,803 cr | 77.7x | 10.1x | 17.4% | 17.6% | 11.1% | +33.0% | 0.10% |
| HONAUT | ₹27,500 cr | 50.1x | 6.2x | 13.0% | 16.9% | 13.3% | +10.7% | 0.34% |
| KAYNES | ₹22,167 cr | 64.0x | 4.7x | 9.1% | 11.1% | 15.5% | +47.7% | – |
| JYOTICNC | ₹20,523 cr | 63.8x | 10.3x | 17.4% | 18.5% | 24.4% | – | – |
| LMW | ₹17,267 cr | 84.2x | 5.7x | 7.0% | 9.3% | 7.1% | -12.1% | 0.19% |
| TEGA | ₹12,752 cr | 447.9x | 3.7x | 0.9% | 4.5% | 7.5% | +11.7% | 0.11% |
| LLOYDSENGG | ₹12,248 cr | 48.1x | 7.3x | 14.1% | 15.1% | 14.2% | +60.9% | 0.27% |
| HIRECT | ₹3,320 cr | 78.3x | 15.9x | 22.6% | 14.5% | 7.2% | +40.6% | 0.11% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Engineering Products | ₹949 cr | 93.1% | ₹114 cr | 12.0% |
| EMS | ₹50 cr | 4.9% | ₹-19 cr | -37.8% |
| CTC/ PICC/ EPICC | ₹21 cr | 2.0% | ₹-1 cr | -6.9% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-04 | Dividend | Dividend - Rs 1.40 Per Share |
| 2026-03-27 | Bonus | Bonus 1:1 |
| 2025-07-22 | Dividend | Dividend - Rs 2 Per Share |
| 2024-07-25 | Dividend | Annual General Meeting/Dividend - Rs 1.20 Per Share |
| 2022-08-01 | Dividend | Annual General Meeting/Dividend - Rs 0.40 Per Share |
| 2021-08-04 | Dividend | Annual General Meeting/Dividend - Rs 0.40 Per Share |
| 2020-09-07 | Dividend | Annual General Meeting/Dividend - Rs 0.80 Per Share |
| 2019-07-30 | Dividend | Annual General Meeting/Dividend Rs 0.40 Per Share |
| 2018-08-01 | Other | Annual General Meeting |
| 2017-10-17 | Rights | Rights 1:10 @ Premium Rs 78/- |
| 2017-08-24 | Other | Annual General Meeting |
| 2016-07-21 | Other | Annual General Meeting |
| 2015-08-07 | Other | Annual General Meeting |
| 2014-08-06 | Dividend | Annual General Meeting / Dividend - Re 0.20/- Per Share |
| 2013-08-02 | Dividend | Annual General Meeting/Dividend Rs 1.60/- Per Share |
| 2012-07-31 | Dividend | Annual General Meeting/Dividend Rs 1.60 Per Share |
| 2011-07-29 | Dividend | Annual General Meeting And Dividend Rs.1.50 Per Share |
| 2010-08-04 | Dividend | Annual General Meeting And Dividend Rs.1.40 Per Share |
| 2009-08-31 | Other | Agm/Div-Rs.2/- Per Share |
| 2008-10-06 | Bonus | Bonus - 1:1 |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Industrial Products |
| Sub-industry | Industrial Products |
| Symbol | HIRECT |
| BSE code | 504036 |
| ISIN | INE835D01023 |
| Face value | ₹2.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.