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About
Horizon Industrial Parks Ltd (HORIZONIND)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544880 NSE: HORIZONIND Business Support | Small Cap | Horizon Industrial Share Price
₹55.98 -0.80 (-1.41%)
As on 03-Sep'26 10:27
Horizon Industrial Parks Ltd (HORIZONIND)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544880 NSE: HORIZONIND Business Support | Small Cap | Horizon Industrial Share Price
₹55.98 -0.80 (-1.41%)
As on 03-Sep'26 10:27
Key Metrics
Valuation Multiples
Market Cap
₹16,369 Cr.
Current Price
₹56
52-Week Low / High
₹54 / 60
TTM EPS
₹0.2
TTM Sales
₹137 Cr.
Book Value per Share
₹33.9
P/E Ratio
248.99
In line with its 5-year historical median
Industry PE
27.8
Price to Book (P/B)
1.68
In line with its 5-year historical median
Price to Sales (P/S)
119.08
In line with its 5-year historical median
EV/EBITDA
94.40
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
1.57%
Return on Capital Employed (ROCE)
2.40%
Return on Assets (ROA)
1.12%
Operating Profit Margin
2.8%
Net Profit Margin
47.83%
Gross Profit Margin
69.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
4.64%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-92.27%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
75.40%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹6,889 Cr.
Equity
₹2,882.9 Cr.
Face Value
₹10
All Time Low / High
₹55.01 / 60.20
Check Before You Invest
Quality
Not GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Horizon Industrial Parks Ltd a good quality company?
Horizon Industrial Parks Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Horizon Industrial Parks Ltd performance compare with that of its Peers?
Revenue growth of Horizon Industrial Parks Ltd vs industry peers?
Horizon Industrial Parks Ltd revenue CAGR is 21.17%, compared to the industry median CAGR of 12.23%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Horizon Industrial Parks Ltd?
Promoters hold 75.40% of the Horizon Industrial Parks Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Horizon Industrial Parks Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Horizon Industrial Parks Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | -1.9% | -1.4% | 3.2% | 2.4% | - |
| Value Creation Index ⓘ | -1.1 | -1.1 | -0.8 | -0.8 | - |
Growth Parameters ⓘ |
|||||
| Sales ⓘ | 77.3 | 90.5 | 131 | 137 | 137 |
| Sales YoY Gr. | - | 17.1% | 45.2% | 4.6% | - |
| Adj EPS ⓘ | -1.3 | -1.4 | -0.2 | 0.3 | 0.2 |
| YoY Gr. | - | NA | NA | NA | - |
| BVPS (₹) ⓘ | 6.7 | 5.3 | 22.4 | 29.3 | 33.9 |
| Adj Net Profit ⓘ | -70.1 | -77.1 | -9.2 | 67.1 | 66 |
| Cash Flow from Ops. ⓘ | 36.6 | 28 | 39.3 | 19.7 | - |
| Debt/CF from Ops. ⓘ | 20.1 | 33.6 | 28.6 | 52.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 21.2% | 4.6% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | 63.7% | 30.5% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | -19.6 | -24.1 | -0.7 | 1.4 | 0.7 |
| Op. Profit Mgn % ⓘ | 0.4 | 1 | 18.3 | 2.8 | NAN |
| Net Profit Mgn % ⓘ | -90.7 | -85.2 | -7 | 48.8 | 48.2 |
| Debt to Equity ⓘ | 2.1 | 3.3 | 0.9 | 0.1 | - |
| Working Cap Days ⓘ | 0 | 661 | 639 | 1,236 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 14 | 21 | 42 | 0 |
Valuation of Horizon Industrial - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|
| Sales | 77 | 90 | 131 | 137 |
| Operating Expenses ⓘ + | 77 | 90 | 107 | 136 |
| Operating Profit ⓘ | 0 | 1 | 24 | 2 |
| Operating Profit Margin (%) | 0.4% | 1.0% | 18.3% | 1.4% |
| Other Income ⓘ + | 2 | 7 | 76 | 167 |
| Interest ⓘ | 50 | 61 | 82 | 73 |
| Depreciation ⓘ | 23 | 24 | 27 | 30 |
| Profit Before Tax ⓘ | -70 | -77 | -9 | 66 |
| Tax ⓘ | 0 | 0 | 0 | 0 |
| Profit After Tax | -70 | -77 | -9 | 66 |
| PAT Margin (%) | -90.7% | -84.6% | -7.0% | 47.8% |
| Adjusted EPS (₹) | -1.3 | -1.4 | -0.2 | 0.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 358 | 281 | 1,202 | 7,172 | |||||||
| Debt + | 727 | 873 | 1,104 | 1,011 | |||||||
| Minority Interest | 0 | 0 | 0 | 0 | |||||||
| Trade Payables | 3 | 8 | 8 | 12 | |||||||
| Others Liabilities ⓘ | 49 | 121 | 1,101 | 152 | |||||||
| Total Liabilities ⓘ | 1,138 | 1,283 | 3,414 | 8,347 | |||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 12 | 10 | 12 | 28 | |||||||
| CWIP ⓘ | 0 | 0 | 0 | 2 | |||||||
| Investments ⓘ | 370 | 385 | 2,301 | 5,361 | |||||||
| Inventories | 0 | 0 | 0 | 0 | |||||||
| Trade Receivables | 7 | 16 | 28 | 31 | |||||||
| Cash Equivalents | 70 | 33 | 103 | 1,496 | |||||||
| Others Assets ⓘ | 678 | 840 | 971 | 1,428 | |||||||
| Total Assets ⓘ | 1,138 | 1,283 | 3,414 | 8,347 | |||||||
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 37 | 28 | 39 | 20 |
| Cash Flow From Investing Activity ⓘ + | -204 | -192 | -1,129 | -4,114 |
| Cash Flow From Financing Activity ⓘ + | 214 | 128 | 1,148 | 4,487 |
| Net Cash Flow ⓘ | 47 | -37 | 59 | 392 |
| PARTICULARS | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -19.59 | -23.95 | -1.24 | 1.57 | ||||||
| ROCE (%) | -1.87 | -1.36 | 3.22 | 2.4 | ||||||
| Asset Turnover Ratio | 0.07 | 0.07 | 0.06 | 0.02 | ||||||
| PAT to CFO Conversion(x) | N/A | N/A | N/A | 0.3 | ||||||
| Working Capital Days | ||||||||||
| Receivable Days | 33.70 | 46.30 | 60.50 | 78 | ||||||
| Inventory Days | 0 | 0 | 0 | 0 | ||||||
| Payable Days | 0 | 0 | 0 | 0 | ||||||
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Horizon Industrial Parks Ltd FAQs
The current trading price of Horizon Industrial on 03-Sep-2026 10:27 is ₹55.98.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 02-Sep-2026 the market cap of Horizon Industrial stood at ₹16,369.1 Cr
The latest P/E ratio of Horizon Industrial as of 02-Sep-2026 is 249.0.
The latest P/B ratio of Horizon Industrial as of 02-Sep-2026 is 1.68.
The 52-week high of Horizon Industrial is ₹60.20 and the 52-week low is ₹53.72.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Horizon Industrial is ₹137 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Horizon Industrial Parks Ltd is a below average quality company.
The key valuation ratios of Horizon Industrial Parks Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Horizon Industrial Parks Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Horizon Industrial Parks Ltd
Horizon Industrial Parks (formerly known as Horizon Industrial Parks Private Limited) was incorporated on September 22, 2009. The company is industrial and logistics infrastructure developer, owner and operator. It offers its clients Grade A quality fulfilment centers (warehouses), industrial facilities, and in-city centers across the country’s major industrial and consumption hubs. Its comprehensive business ecosystem provides a holistic end-to-end solution that enables its customers to operate seamlessly and reduce time-to-market. Its solutions include, among others, built-to-suit facilities, fully fitted plug-and-play facilities, cold storage, energy solutions, on-site staff accommodation, racking and material handling equipment (MHEs), all designed to support efficient operations.
Its network of assets is spread across major industrial and consumption hubs in India, including Delhi National Capital Region (Delhi-NCR), Mumbai (Maharashtra), Bangalore (Karnataka), Chennai (Tamil Nadu), Pune (Maharashtra), Hyderabad (Telangana), Ahmedabad (Gujarat) and Nagpur (Maharashtra). It has built this network through strategic acquisitions, greenfield developments that have transformed barren landscapes into thriving commercial hubs and targeted strategic redevelopments.
Business area of the company
The company is principally engaged in the business of developing, operating and maintaining industrial and warehousing parks in India.
Services of the company
- Fulfilment centers (warehouses): Its fulfilment centers provide bulk storage solutions to customers across multiple sectors including e-commerce, third-party logistics, FMCG and retail. These Grade A facilities are integral to its customers’ supply chains, connecting goods-producing factories with retailers and consumers.
- Industrial facilities: Its industrial facilities are designed to support assembly, light engineering, manufacturing activities, and associated storage across a broad spectrum of sectors, including renewable energy, electric vehicles, automotive, electronics, aerospace, specialty chemicals, telecommunications and packaging.
- In-city centers: Its in-city centers are multi-use facilities located around dense residential clusters enabling close proximity to consumers.
Awards, accreditations and recognition
- 2023: Greenbase Industrial & Logistics Parks, (formerly known as Hiranandani Energy Private Limited) Pune, was pre-certified Platinum in the category ‘Green Logistics Park’ by Indian Green Building Council.
- 2023: The company was awarded ‘Fastest Growing Industrial & Logistics Parks’ at Express Logistics & Supply Chain Leadership Awards.
- 2023: The company was awarded ‘Frontiers of Grade A Industrial Park’ at CII Supply Chain and Logistics Excellence – Scale Awards.
- 2024: Horizon Industrial Park Chakan II was awarded ‘Warehousing Project of the Year’ at GRI Awards.
- 2024: Horizon Industrial Park Chakan II was awarded ‘Industrial Warehousing Project of the Year’ at Realty+ Conclave & Excellence Awards (West).
- 2024: The company was awarded ‘Developer of the Year Industrial & Warehousing’ at Realty+ Conclave & Excellence Awards (North).
- 2024: JCK Horizon Industrial Park Kothur, was awarded ‘Industrial/ Warehousing Project of the Year’ in the 16th Realty + Excellence Awards (South).
- 2024: The company was awarded ‘Leader in Innovative Industrial Real Estate Solutions’ at CII IL Supply Chain and Logistics Excellence – Scale Awards.
- 2024: Horizon Industrial Park Chakan II was awarded in the category of ‘Industrial / Warehousing Project (West - Ongoing)’ at the Economic Times Real Estate Awards.
- 2024: Horizon Industrial Parks Bilaspur was awarded ‘IGBC Green Logistics Park Platinum’ by Confederation of Indian Industry.
- 2024: Horizon Industrial Park Chakan II was awarded ‘IGBC Green Logistics Park Platinum’ by Confederation of Indian Industry.
- 2024: Horizon Industrial Park Malur was awarded ‘IGBC Green Logistics Park Platinum’ by Confederation of Indian Industry.
- 2024: Horizon Industrial Park Farukhnagar I was awarded ‘IGBC Green Logistics Park Platinum’ by Confederation of Indian Industry.
- 2024: The company was awarded ‘IGBC Green Champion Award’ in the category “Pioneer in Large-Scale Adoption of Green Logistics Parks and Warehouses in India” by the Indian Green Building Council.
- 2024: XSIO Park One, was certified Platinum in the category “Green Logistics Park” by Indian Green Building Council.
- 2024: Horizon InCity Alipur I was pre-certified Platinum in the category “Green Warehouse” by Indian Green Building Council.
- 2025: Horizon Industrial Park Kothur, was pre-certified Platinum in the category “Green Logistics Park” by Indian Green Building Council.
- 2025: Horizon Industrial Park Hosur, was pre-certified Platinum in the category “Green Logistics Park” by Indian Green Building Council.
- 2025: Horizon Industrial Park Farukhnagar II, was awarded the “Industrial & Logistics Project of the Year” at the GRI Awards, Real Estate, Global 2025.
History and milestones
- 2009: Incorporation of the company.
- 2020: Launched its network with 14.55 msf acquisition across 6 assets.
- 2021: Scaled network, adding 8 industrial and logistics facilities with acquisition of 18.07 msf.
- 2021: Launched in-city vertical with 0.80 msf acquisition.
- 2021: Acquisition of the company by one of its Promoters, namely, BREP Asia II EIP Holding (NQ) Pte. Ltd.
- 2022: Acquisition of 100% stake in Vertical Logistic Park LLP, expanding its presence in NCR.
- 2022: Acquisition of 65% stake on fully diluted basis in Vidarbha Cargo Private Limited, marking its presence in Nagpur, Maharashtra.
- 2023: Started value added services with 1st roof top solar commissioned of 0.98 MW and first cold storage facility.
- 2024: Scaled up in-city strategy in partnership with CWC across 13 locations with 4.55 msf.
- 2024: Acquisition of 100% stake in Panvel Warehousing Private Limited expanding its presence in Chakan, Pune.
- 2025: Expanded its network by acquisition of 10.12 msf and consolidated its presence in Chennai, Delhi-NCR, MMR and Nagpur.
- 2025: Expanded its customer base to serve 100+ clients.
- 2025: Industrial and logistics park platform with 58.01 msf developable area / 2,190+ acres land across 10 cities and 45 assets.
- 2025: Acquisition by the company of 100% stake in Patencheru Industrial Park Private Limited (formerly known as Allcargo Logistics & Industrial Park Private Limited), Malur Logistics and Industrial Parks Private Limited, Venkatapura Logistics and Industrial Parks Private Limited, Kalina Warehousing Private Limited, and FRK II Industrial Park Private Limited (formerly known as Allcargo Multimodal Private Limited.
- 2025: Acquisition by the company of 100% stake in Redhills Industrial Park Private Limited, Lakshmipathi Realtors Private Limited, SFW Pukkathurai Realtors Private Limited, Alotrion Warehousing Private Limited, Alotronix Warehousing Private Limited, Alotronix Warehousing One Private Limited, Alotronix Warehousing Two Private Limited, Alotronix Warehousing Four Private Limited, Alotronix Warehousing Five Private Limited, Alotronix Warehousing Six Private Limited, Alotronix Warehousing Seven Private Limited, Alotronix Warehousing Eight Private Limited, Alotronix Warehousing Nine Private Limited, Alotronix Warehousing Ten Private Limited, Alotronix Warehousing Twelve Private Limited, Alotronix Warehousing Thirteen Private Limited, ILV Distripark Private Limited, (formerly known as Casa Grande Disripark Private Limited), ILV Distripark (Mappedu) Private Limited (formerly known as Casa Grande Mappedu Distripark Private Limited), LI Industrial Parks Private Limited, ILV Distripark (MWC) Private Limited, (formerly known as CGD Mappedu Private Limited), and 80% stake in Bhiwandi Industrial and Logistics Parks Private Limited, (formerly known as Bhiwandi Industrial & Logistics Parks Private Limited) and Banamakanahalli Industrial and Logistics Private Limited.
- 2025: Acquisition of 65% stake in XSIO Logistics Parks Private Limited through Vidarbha Cargo Private Limited; 100% stake in Goodluck Buildtech Private Limited, Jindpur Industrial Park Private Limited, (formerly known as Anant Raj Hotels Private Limited) and Pluto Valencia Business Parks Private Limited by the company and 80% stake in Juturna Developers Private Limited, Talegaon Industrial Parks Private Limited (formerly known as Nidar Industrial Park Pune Private Limited),Volumnus Developers Private Limited and Juturna-2 Industrial Parks Private Limited (formerly known as Greenbase Industrial Parks Private Limited) (wholly-owned subsidiaries of Juturna Developers Private Limited).
- 2025: Acquisition by the company of 80% stake in KCP - 3 Industrial and Logistics Parks Private Limited, KCP - 2 Industrial and Logistics Parks Private Limited and Sriperumbudur Industrial and Logistics Private Limited; 65% stake in XSIO Industrial Parks Private Limited; and 51% equity stake in Onirique Builders and Developers Private Limited.
- 2026: Acquisition of 49% stake in Vision Softech Facilities Private Limited by the company.
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