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The Hi-Tech Gears Ltd (HITECHGEAR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522073 NSE: HITECHGEAR Auto Ancillary | Small Cap | Hi-Tech Gears Share Price

₹590 10.00 (1.72%)

As on 11-Jun'26 16:59

The Hi-Tech Gears Ltd (HITECHGEAR)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 522073 NSE: HITECHGEAR Auto Ancillary | Small Cap | Hi-Tech Gears Share Price

₹590 10.00 (1.72%)

As on 11-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,110 Cr.
Current Price
₹590
52-Week Low / High
₹532 / 895
TTM EPS
₹17.6
TTM Sales
₹649 Cr.
Book Value per Share
₹263.7
P/E Ratio
33.58
Higher than its 5-year historical median
Industry PE
42.1
Price to Book (P/B)
2.24
Higher than its 5-year historical median
Price to Sales (P/S)
1.71
Higher than its 5-year historical median
EV/EBITDA
12.82
Higher than its 5-year historical median
Dividend Yield
0.83%
Profitability Efficiency
Return on Equity (ROE)
10.39%
Underperforms industry median
Return on Capital Employed (ROCE)
13.91%
In line with industry median
Return on Assets (ROA)
6.74%
Operating Profit Margin
14.6%
Net Profit Margin
7.2%
Gross Profit Margin
14.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-15.69%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-8.56%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-3.84%
Asset Quality
Promoter Holding
56.12%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹477 Cr.
Equity
₹18.8 Cr.
Face Value
₹10
All Time Low / High
₹1.88 / 1275.75

The Hi-Tech Gears stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Semi Strong
Q.1 Is The Hi-Tech Gears Ltd a good quality company?
The Hi-Tech Gears Ltd is a good quality company, based on a consistently good 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 The Hi-Tech Gears Ltd performance compare with that of its Peers?
Q.1 Revenue growth of The Hi-Tech Gears Ltd vs industry peers?
The Hi-Tech Gears Ltd revenue CAGR is 5.24%, compared to the industry median CAGR of 11.89%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of The Hi-Tech Gears Ltd?
Promoters hold 56.12% of the The Hi-Tech Gears Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of The Hi-Tech Gears Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.4% 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 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.
The Hi-Tech Gears Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 17.9%13%15.1%15.2%7.5%14%13.4%15%14.3%13.9%-
Value Creation
Index
0.3-0.10.10.1-0.5-00.00.10.00.0-

Growth Parameters

Sales 450448527647509522645782780658649
Sales YoY Gr.--0.4%17.6%22.8%-21.3%2.6%23.4%21.3%-0.2%-15.7%-
Adj EPS 11.310.716.815.84.117.71924.825.923.917.6
YoY Gr.--5%56.4%-5.7%-74.4%336.1%7.3%30.7%4.4%-7.7%-
BVPS (₹) 88.4114.3128.1142.9142.1164186.1211.6235.7250263.7
Adj Net
Profit
21.120.131.429.67.633.235.646.548.644.933
Cash Flow from Ops. 50.437.245.537.114457.553.253.285.287.8-
Debt/CF from Ops. 0.83.346.81.33.53.93.81.40.6-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 4.3%5.2%0.7%-15.7%
Adj EPS 8.7%42.6%8%-7.7%
BVPS12.3%12%10.3%6.1%
Share Price 8.9% 20.4% 15.3% -22.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
11.29.813.811.72.811.510.812.411.69.86.8
Op. Profit
Mgn %
12.712.213.412.911.615.814.71413.614.611.4
Net Profit
Mgn %
4.74.564.61.56.45.55.96.26.85.1
Debt to
Equity
0.30.60.810.70.70.60.50.30.10
Working Cap
Days
899911713015813413713513815574
Cash Conv.
Cycle
3741495455314050637636

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales450448527647509522645782780658
Operating Expenses + 393394457565451440550673675561
Manufacturing Costs535567796462768810289
Material Costs247234280346260270328420420341
Employee Cost 697279101968010111011095
Other Costs 24333039312844544337
Operating Profit 5755718258829510910596
Operating Profit Margin (%) 12.7%12.2%13.4%12.7%11.4%15.8%14.7%14.0%13.5%14.6%
Other Income + 26131661079912
Exceptional Items -1000000000
Interest 23918221818171812
Depreciation 23252627272530323233
Profit Before Tax 34334853155054696564
Tax 1212161881215191516
Profit After Tax 2121323583739504947
PAT Margin (%) 4.7%4.7%6.1%5.5%1.5%7.1%6.0%6.4%6.3%7.2%
Adjusted EPS (₹)11.311.117.018.94.119.920.526.826.225.2
Dividend Payout Ratio (%)26.60%22.50%20.60%18.50%36.40%10.10%7.30%9.30%19.10%19.80%

Valuation of Hi-Tech Gears - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 196214240268267308349397443470
Share Capital 19191919191919191919
Reserves 177196222249248289331378424451
Debt +411231792361601501521369853
Long Term Debt07212216416014511659308
Short Term Debt415157720537776745
Minority Interest0000000000
Trade Payables393855636876103847962
Others Liabilities 40577582106121134130100102
Total Liabilities 316433550649600655739747719687

Fixed Assets

Net Fixed Assets +174171169175198205222211213233
Gross Block394419441456504531572592616665
Accumulated Depreciation219249271281306326350381403432
CWIP 332141225161331
Investments 0102154158163164167167166155
Inventories32354674565779798593
Trade Receivables66731001095982125152142116
Cash Equivalents 16142442456051594631
Others Assets 25365677686279676359
Total Assets 316433550649600655739747719687

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 503745371445853538588
PBT 34334853155054696564
Adjustment 27222732463744474641
Changes in Working Capital 4-4-13-3190-15-29-43-8-2
Tax Paid -14-13-17-17-7-14-15-21-17-15
Cash Flow From Investing Activity + -25-119-88-63-51-15-43-35-14-3
Capex -25-15-27-64-39-23-38-16-24-23
Net Investments 00-93-154-0-22616
Others 0-105-52-323-6344
Cash Flow From Financing Activity + -12754348-108-23-18-31-78-84
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -14000000000
Interest Paid -2-1-7-15-18-16-17-14-18-12
Dividend Paid -6-6-6-7-70-4-3-5-9
Others 10825770-84-73-14-55-63
Net Cash Flow 13-7122-1519-8-13-70

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)13.3410.9814.0313.952.912.9811.7313.4911.7310.39
ROCE (%)17.9113.0315.1115.167.5413.9513.3914.9714.3413.91
Asset Turnover Ratio1.631.311.11.080.820.830.931.051.060.94
PAT to CFO Conversion(x)2.381.761.411.06181.571.361.061.731.87
Working Capital Days
Receivable Days48.1051.8058.6058.7060.1049.3058.7064.7068.8071.70
Inventory Days22.2024.8027.3033.7046.5039.5038.3036.8038.5049.50
Payable Days53.8059.5060.5062.5092.2097.7099.6081.507175.50

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

The Hi-Tech Gears Ltd FAQs

The current trading price of Hi-Tech Gears on 11-Jun-2026 16:59 is ₹590.0.

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 10-Jun-2026 the market cap of Hi-Tech Gears stood at ₹1,110 Cr

The latest P/E ratio of Hi-Tech Gears as of 10-Jun-2026 is 33.58.

The latest P/B ratio of Hi-Tech Gears as of 10-Jun-2026 is 2.24.

The 52-week high of Hi-Tech Gears is ₹894.8 and the 52-week low is ₹532.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hi-Tech Gears is ₹649 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that The Hi-Tech Gears Ltd is a good quality company.

The key valuation ratios of The Hi-Tech Gears Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of The Hi-Tech Gears Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About The Hi-Tech Gears Ltd

The Hi-Tech Gears Ltd. is an auto component manufacturer (Tier 1 supplier) of world class repute. The Company has a foothold in US and Canada. It is a listed-on country’s premier stock exchanges, i.e. BSE & NSE and is regularly traded scrip.

It has manufacturing facilities in Bhiwadi and Manesar with subsidiary companies in North America.

The Company spans a spectrum of products, including transmission and engine components, driveline components, engines design services and advanced technology-enabled products and solutions at the fore front of cutting-edge technology.

The Customer of the company ranges from the manufacturers of two wheelers, four wheelers, off road equipment, generator manufacturers, medium and heavy vehicles etc.

Business area of the company

The company is primarily engaged in the business of gears and transmission components, & the inherent nature of both the activities is governed by the same set of risk and returns, & these have been grouped as a single segment in the above disclosures.

Milestones

  • 1986: Incorporated as a Public Limited company
  • 1988: Production Commencement & became single source supplier to Hero Honda
  • 1989: Product Indigenization
  • 1992: Technical Tie-up with Kyush Musashi, a subsidiary of Honda Motors, Japan
  • 1993: Backward Integration into Precision Forgings
  • 1995: Selected as single source supplier to Honda Power, Tata Cummins Ltd.
  • 1996: Technology Agreement with GETRAG, US
  • 1996: Certified as ISO 9002, BPR launched
  • 1997: Selected as a global source to Cummins, US
  • 1998: Certified as QS 9000
  • 1999: Separate Division to handle high-end design and CAD Services established, under the name of Hi-Tech ESoft.
  • 2002: Launches Initiative of Lean Manufactured
  • 2003: Certified for: Integrated Quality Management Systems; TS 16949 for quality & obtained Environment Certification ISO 4001; Occupational Health & Safety Certification OHSAS 18001:1999
  • 2004: Prototyping/Productionsing Precision Components for Robert Bosch, GM, Volvo and Daimler Chrysler
  • 2005: State-of-the-art Manufacturing Facility set up at Manesar
  • 2007: Hi-Tech eSoft (division of HGL) Certified for ISO 9001:2000
  • 2008: ACMA Export Award 2006-07
  • 2009: Excellence Award for Manufacturing and Export
  • 2010: TPM Excellence Awards Category A & Shingo Silver Medallion
  • 2011: New State of Art “ECOFAC” Plant setup in Bhiwadi
  • 2012: Award for excellence in Consistent TPM Commitment
  • 2013: ACMA Export Award
  • 2014: ACMA Export Award (Large Category)
  • 2015: Name of the Company changed to “The Hi-Tech Gears Ltd.”
  • 2017: Acquisition of Teutech Industries INC, Canada and Teutech LLC, USA.
  • 2019: Achieved a Turnover of INR 9,000 Million (on Consolidated Basis)
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