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Horizon Reclaim (India) Ltd (544794)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544794 NSE: Rubber Products | Small Cap | Horizon Reclaim (I) Share Price

₹141.90 6.75 (4.99%)

As on 02-Jul'26 16:59

Horizon Reclaim (India) Ltd (544794)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544794 NSE: Rubber Products | Small Cap | Horizon Reclaim (I) Share Price

₹141.90 6.75 (4.99%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹277 Cr.
Current Price
₹141.9
52-Week Low / High
₹132 / 158
TTM EPS
₹5.4
TTM Sales
₹49.4 Cr.
Book Value per Share
₹40.5
P/E Ratio
26.37
In line with its 5-year historical median
Industry PE
27.7
Price to Book (P/B)
3.50
In line with its 5-year historical median
Price to Sales (P/S)
5.60
In line with its 5-year historical median
EV/EBITDA
19.07
In line with its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
53.63%
Return on Capital Employed (ROCE)
36.46%
Return on Assets (ROA)
23.20%
Operating Profit Margin
32%
Net Profit Margin
21.25%
Gross Profit Margin
30.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
36.44%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
53.1%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
48.51%
Asset Quality
Promoter Holding
69.97%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹60 Cr.
Equity
₹19.5 Cr.
Face Value
₹10
All Time Low / High
₹131.60 / 158.00

Horizon Reclaim (India) stock performance

Key Ratios
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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 end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

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 Reclaim (India) 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'23Mar'24Mar'25Mar'26TTM
ROCE % 13.7%13.8%62.9%36.5%-
Value Creation
Index
0.00.03.51.6-

Growth Parameters

Sales 19.720.336.249.449
Sales YoY Gr.-3.5%78.2%36.4%-
Adj EPS 0.50.54.97.25.4
YoY Gr.--2.1%967.4%45.8%-
BVPS (₹) 4.65.110.117.440.5
Adj Net
Profit
0.70.7710.211
Cash Flow from Ops. 0.61.51.710.1-
Debt/CF from Ops. 005.93.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NANA36%36.4%
Adj EPS NANA147.9%45.8%
BVPSNANA55.9%73.3%
Share Price - - - -

Key Financial Parameters

Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
10.39.464.852.118.6
Op. Profit
Mgn %
5.45.228.532NAN
Net Profit
Mgn %
3.43.219.320.621.3
Debt to
Equity
000.71.4-
Working Cap
Days
0771111500
Cash Conv.
Cycle
06560760

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26
Sales20203649
Operating Expenses + 19192634
Manufacturing Costs2247
Material Costs15162023
Employee Cost 0001
Other Costs 1112
Operating Profit 111016
Operating Profit Margin (%) 5.4%5.2%28.5%32.0%
Other Income + 0001
Exceptional Items 0000
Interest 0001
Depreciation 0011
Profit Before Tax 111014
Tax 0034
Profit After Tax 11711
PAT Margin (%) 3.4%3.5%19.5%21.3%
Adjusted EPS (₹)0.50.55.07.4
Dividend Payout Ratio (%)0%0%0%0%

Valuation of Horizon Reclaim (I) - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 771425
Share Capital 111414
Reserves 67011
Debt +001033
Long Term Debt00118
Short Term Debt00915
Minority Interest0000
Trade Payables0001
Others Liabilities 1125
Total Liabilities 882665

Fixed Assets

Net Fixed Assets +2246
Gross Block87911
Accumulated Depreciation5556
CWIP 02436
Investments 0000
Inventories11410
Trade Receivables3253
Cash Equivalents 1000
Others Assets 0099
Total Assets 882665

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 11210
PBT 111014
Adjustment 0012
Changes in Working Capital -01-6-3
Tax Paid -0-0-3-3
Cash Flow From Investing Activity + -0-2-12-35
Capex -0-2-12-35
Net Investments 0000
Others 0000
Cash Flow From Financing Activity + -0-01025
Net Proceeds from Shares 0000
Net Proceeds from Borrowing 00117
Interest Paid -0-0-0-1
Dividend Paid 0000
Others 0098
Net Cash Flow 0-0-00

Financial Ratio

PARTICULARSMar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)10.2410.365.4753.63
ROCE (%)13.7313.7962.8936.46
Asset Turnover Ratio2.622.582.121.09
PAT to CFO Conversion(x)110.290.91
Working Capital Days
Receivable Days56.9048.9039.1032.40
Inventory Days242325.5051
Payable Days5.407.805.9011.70

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Horizon Reclaim (India) Ltd FAQs

The current trading price of Horizon Reclaim (I) on 02-Jul-2026 16:59 is ₹141.9.

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 01-Jul-2026 the market cap of Horizon Reclaim (I) stood at ₹276.9 Cr

The latest P/E ratio of Horizon Reclaim (I) as of 01-Jul-2026 is 26.37.

The latest P/B ratio of Horizon Reclaim (I) as of 01-Jul-2026 is 3.50.

The 52-week high of Horizon Reclaim (I) is ₹158.0 and the 52-week low is ₹131.6.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Horizon Reclaim (I) is ₹49.42 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Horizon Reclaim (India) Ltd is a below average quality company.

The key valuation ratios of Horizon Reclaim (India) 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 Reclaim (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Horizon Reclaim (India) Ltd

Horizon Reclaim (India) was originally incorporated as ‘Horizon Reclaim (India) Private Limited’ on August 21, 2006. Thereafter, name of the company was changed from ‘Horizon Reclaim (India) Private Limited’ to ‘Horizon Reclaim (India) Limited’, consequent to conversion of the company from private to public company, pursuant to a special resolution passed by the shareholders of the company on April 15, 2025 and a fresh certificate of incorporation consequent to change of name was issued by the Registrar of Companies, Central Processing Centre on May 06, 2025. It is engaged in the manufacturing of reclaimed rubber, which is recycled rubber derived from used rubber materials such as old tyres, rubber tubes, tread peelings, and industrial scrap, including Ethylene Propylene Diene Monomer (EPDM), a synthetic rubber known for its excellent resistance to heat. Reclaimed rubber serves as a cost-effective and environmental friendly alternative to natural and synthetic rubber and is widely used in the manufacture of various rubber-based products.

It offers reclaimed rubber in three main categories: i) Natural Rubber Reclaim, produced from rubber tyre casings and tube commonly used in footwear soles, floor mats, tyre base layers, and moulded rubber products, ii) Synthetic Rubber Reclaim, which includes EPDM and Butyl Reclaim Rubber suitable for applications requiring resistance to oil, heat, and weather, such as automotive seals, hoses, gaskets, and construction profiles and iii) Crumb rubber made from recycle tyres and used in road construction, sport surfaces and construction materials like roofing sheets. Products are supplied in different grades depending on customer requirements.

It has obtained several certifications supporting quality, safety, and environmental compliance, including ISO 9001:2015 for Quality Management System, ISO 45001:2018 for Occupational Health and Safety Management System, and ISO 14001:2015 for Environmental Management System. It also complies with the Restriction of Hazardous Substances (RoHS) requirements. Further, it is registered with the Central Pollution Control Board (CPCB) as a Waste Tyre Recycler and hold CPCB Producer Registration under the Extended Producer Responsibility (EPR) framework, which allows it to generate EPR credits by recycling waste tyres. These credits are sold to tyre manufacturers, importers, and brand owners to meet their statutory EPR obligations.

Business area of the company

The company is engaged to carry on business as manufacturers of and dealers in all types of reclaimed rubber, rubber crumbs and all kinds of rubber goods and to carry on the business as manufacturers of and dealers in all kinds of plant and machinery, equipment and accessories required to convert rubber materials into industrial and commercial products by process methods, including dipping moulding, vacuum moulding, extrusion, calendaring, vulcanizing, forming, coating, film, blending, etc.

Products of the company

Natural Reclaim Rubber

  • WTR Reclaim Rubber
  • HR (High-Resilience) Reclaim Rubber
  • 202 Reclaim Rubber
  • Super Fine Reclaim Rubber
  • Fine Reclaim Rubber

Synthetic Reclaim Rubber (EPDM and Butyl)

  • EPDM (Ethylene Propylene Diene Monomer) Reclaim Rubber
  • Butyl Reclaim Rubber

Crumb Rubber

Awards and recognitions

  • 2023: Certificate of Membership from Bhagwanpur Industries Association
  • 2024-2025: Registered as a member of Indian Industries Association

History and milestones

  • 2006: The company was incorporated as a Private Limited Company on August 21, 2006 under the name and style of ‘Horizon Reclaim (India) Private Limited’.
  • 2023: Obtained registration from the Central Pollution Control Board (CPCB) as a Recycler for recycling of waste tyres under the Hazardous and Other Wastes (Management and Transboundary Movement) Amendment Rules, 2022. 
  • 2024: It was registered as a Producer - Imports of Waste Tyres with CPCB for Extended Producer Responsibility - Obligation under Hazardous and Other Wastes (Management and Transboundary Movement) Amendment Rules, 2022) 
  • 2025: Conversion of the company from Private Limited Company to Public Limited company.
  • 2025: Completed the construction and installation of plant and machinery at the company’s manufacturing facility at Bhagwanpur, Haridwar (Unit III). 
  • 2025: Acquired land and commenced construction, including installation of pyrolysis reactor, for the company’s pyrolysis oil manufacturing facility located at Village Gundala, Rajkot, Gujarat (Unit II).

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