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About
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
₹550 10.00 (1.85%)
As on 23-Sep'26 13:36
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
₹550 10.00 (1.85%)
As on 23-Sep'26 13:36
Key Metrics
Valuation Multiples
Market Cap
₹1,016 Cr.
Current Price
₹550
52-Week Low / High
₹516 / 895
TTM EPS
₹10.5
TTM Sales
₹910 Cr.
Book Value per Share
₹279.9
P/E Ratio
51.49
Higher than its 5-year historical median
Industry PE
49.2
Price to Book (P/B)
1.93
Lower than its 5-year historical median
Price to Sales (P/S)
1.12
Lower than its 5-year historical median
EV/EBITDA
9.27
In line with its 5-year historical median
Dividend Yield
0.73%
Profitability Efficiency
Return on Equity (ROE)
4.18%
Return on Capital Employed (ROCE)
8.39%
Return on Assets (ROA)
2.51%
Operating Profit Margin
11.1%
Net Profit Margin
2.31%
Gross Profit Margin
11.1%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
1.39%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-25.61%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-48.02%
Asset Quality
Promoter Holding
56.12%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹508 Cr.
Equity
₹18.8 Cr.
Face Value
₹10
All Time Low / High
₹1.88 / 1275.75
Check Before You Invest
Quality
Not GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is The Hi-Tech Gears Ltd a good quality company?
The Hi-Tech Gears 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 The Hi-Tech Gears Ltd performance compare with that of its Peers?
Revenue growth of The Hi-Tech Gears Ltd vs industry peers?
The Hi-Tech Gears Ltd revenue CAGR is 4.03%, compared to the industry median CAGR of 1.58%, indicating faster growth and gaining its market share.
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.
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 3.8% 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.
The Hi-Tech Gears 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'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 13% | 15.1% | 15.2% | 7.5% | 14% | 13.4% | 15% | 14.3% | 13.9% | 9.8% | - |
| Value Creation Index ⓘ | -0.1 | 0.1 | 0.1 | -0.5 | -0 | 0.0 | 0.1 | 0.0 | 0.0 | -0.3 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 448 | 527 | 647 | 509 | 522 | 645 | 782 | 780 | 658 | 667 | 659 |
| Sales YoY Gr. | - | 17.6% | 22.8% | -21.3% | 2.6% | 23.4% | 21.3% | -0.2% | -15.7% | 1.4% | - |
| Adj EPS ⓘ | 10.7 | 16.8 | 15.8 | 4.1 | 17.7 | 19 | 24.8 | 25.9 | 23.9 | 14.5 | 15.9 |
| YoY Gr. | - | 56.4% | -5.7% | -74.4% | 336.1% | 7.3% | 30.7% | 4.4% | -7.7% | -39.5% | - |
| BVPS (₹) ⓘ | 114.3 | 128.1 | 142.9 | 142.1 | 164 | 186.1 | 211.6 | 235.7 | 250 | 263.4 | 266.6 |
| Adj Net Profit ⓘ | 20.1 | 31.4 | 29.6 | 7.6 | 33.2 | 35.6 | 46.5 | 48.6 | 44.9 | 27.2 | 30 |
| Cash Flow from Ops. ⓘ | 37.2 | 45.5 | 37.1 | 144 | 57.5 | 53.2 | 53.2 | 85.2 | 87.8 | 55.3 | - |
| Debt/CF from Ops. ⓘ | 3.3 | 4 | 6.8 | 1.3 | 3.5 | 3.9 | 3.8 | 1.4 | 0.6 | 0.8 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 4.5% | 5% | -5.2% | 1.4% | ||||
| Adj EPS ⓘ | 3.4% | -3.9% | -16.4% | -39.5% | ||||
| BVPSⓘ | 9.7% | 9.9% | 7.6% | 5.4% | ||||
| Share Price | 4% | 15% | 14% | -28.1% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 9.8 | 13.8 | 11.7 | 2.8 | 11.5 | 10.8 | 12.4 | 11.6 | 9.8 | 5.6 | 6 |
| Op. Profit Mgn % ⓘ | 12.2 | 13.4 | 12.9 | 11.6 | 15.8 | 14.7 | 14 | 13.6 | 14.6 | 11.1 | 11 |
| Net Profit Mgn % ⓘ | 4.5 | 6 | 4.6 | 1.5 | 6.4 | 5.5 | 5.9 | 6.2 | 6.8 | 4.1 | 4.5 |
| Debt to Equity ⓘ | 0.6 | 0.8 | 1 | 0.7 | 0.7 | 0.6 | 0.5 | 0.3 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 99 | 117 | 130 | 158 | 134 | 137 | 135 | 138 | 155 | 153 | 74 |
| Cash Conv. Cycle ⓘ | 41 | 49 | 54 | 55 | 31 | 40 | 50 | 63 | 76 | 81 | 36 |
Valuation of Hi-Tech Gears - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 471 | 749 | 914 | 722 | 746 | 971 | 1,169 | 1,107 | 927 | 908 |
| Operating Expenses ⓘ + | 415 | 654 | 800 | 638 | 656 | 889 | 1,028 | 957 | 791 | 807 |
| Operating Profit ⓘ | 56 | 95 | 113 | 84 | 90 | 82 | 141 | 150 | 136 | 101 |
| Operating Profit Margin (%) | 11.9% | 12.6% | 12.4% | 11.6% | 12.1% | 8.4% | 12.1% | 13.5% | 14.7% | 11.1% |
| Other Income ⓘ + | 7 | 20 | 17 | 11 | 10 | 8 | 8 | 10 | 12 | 14 |
| Interest ⓘ | 4 | 24 | 29 | 33 | 23 | 26 | 33 | 38 | 21 | 15 |
| Depreciation ⓘ | 26 | 39 | 42 | 43 | 43 | 52 | 82 | 61 | 63 | 67 |
| Profit Before Tax ⓘ | 33 | 52 | 59 | 19 | 34 | 11 | 34 | 138 | 63 | 33 |
| Tax ⓘ | 12 | 17 | 23 | 11 | 5 | 12 | 11 | 24 | 22 | 12 |
| Profit After Tax | 20 | 34 | 36 | 8 | 29 | -1 | 23 | 114 | 40 | 21 |
| PAT Margin (%) | 4.3% | 4.6% | 3.9% | 1.2% | 3.9% | -0.1% | 2.0% | 10.3% | 4.4% | 2.3% |
| Adjusted EPS (₹) | 10.7 | 18.3 | 19.0 | 4.4 | 15.3 | -0.6 | 12.3 | 60.8 | 21.5 | 11.2 |
| Dividend Payout Ratio (%) | 23.30% | 19.20% | 18.50% | 34% | 13% | -255.50% | 20.30% | 8.20% | 23.30% | 35.90% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 201 | 241 | 272 | 276 | 321 | 331 | 354 | 466 | 483 | 522 | |
| Debt + | 317 | 343 | 402 | 301 | 372 | 413 | 372 | 169 | 71 | 52 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 57 | 76 | 97 | 94 | 112 | 143 | 121 | 108 | 84 | 101 | |
| Others Liabilities ⓘ | 116 | 104 | 113 | 141 | 117 | 116 | 150 | 184 | 183 | 175 | |
| Total Liabilities ⓘ | 692 | 764 | 884 | 812 | 922 | 1,002 | 996 | 926 | 821 | 851 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 403 | 423 | 444 | 446 | 468 | 528 | 496 | 462 | 445 | 436 | |
| CWIP ⓘ | 11 | 13 | 19 | 34 | 71 | 38 | 13 | 4 | 1 | 7 | |
| Investments ⓘ | 0 | 0 | 4 | 8 | 10 | 12 | 12 | 12 | 1 | 1 | |
| Inventories | 56 | 67 | 107 | 85 | 91 | 116 | 123 | 124 | 125 | 141 | |
| Trade Receivables | 106 | 154 | 169 | 91 | 149 | 174 | 209 | 200 | 153 | 173 | |
| Cash Equivalents | 70 | 41 | 59 | 70 | 77 | 87 | 80 | 54 | 36 | 35 | |
| Others Assets ⓘ | 45 | 66 | 81 | 78 | 56 | 47 | 63 | 70 | 59 | 58 | |
| Total Assets ⓘ | 692 | 764 | 884 | 812 | 922 | 1,002 | 996 | 926 | 821 | 851 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 54 | 15 | 47 | 184 | 37 | 56 | 54 | 117 | 149 | 86 |
| Cash Flow From Investing Activity ⓘ + | -119 | -72 | -85 | -40 | -51 | -56 | -41 | 143 | -1 | -34 |
| Cash Flow From Financing Activity ⓘ + | 26 | 18 | 60 | -151 | 25 | 11 | -41 | -280 | -150 | -57 |
| Net Cash Flow ⓘ | -40 | -39 | 22 | -7 | 12 | 10 | -27 | -19 | -3 | -5 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 16.33 | 15.48 | 13.88 | 3.02 | 9.64 | -0.34 | 6.75 | 27.88 | 8.51 | 4.18 |
| ROCE (%) | 11.01 | 13.32 | 13.35 | 7.78 | 8.33 | 4.82 | 8.32 | 23.87 | 13.73 | 8.39 |
| Asset Turnover Ratio | 1.16 | 1.04 | 1.11 | 0.85 | 0.86 | 1.01 | 1.17 | 1.15 | 1.06 | 1.09 |
| PAT to CFO Conversion(x) | 2.7 | 0.44 | 1.31 | 23 | 1.28 | N/A | 2.35 | 1.03 | 3.73 | 4.1 |
| Working Capital Days | ||||||||||
| Receivable Days | 47.10 | 62.30 | 64.40 | 65.70 | 58.70 | 60.60 | 59.70 | 67.40 | 69.60 | 65.50 |
| Inventory Days | 31.50 | 29.60 | 34.70 | 48.50 | 43.10 | 38.90 | 37.40 | 40.70 | 49 | 53.50 |
| Payable Days | 65.60 | 65.80 | 70.20 | 103.30 | 102.60 | 96.90 | 80.40 | 73.20 | 75.70 | 73.60 |
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The Hi-Tech Gears Ltd FAQs
The current trading price of Hi-Tech Gears on 23-Sep-2026 13:36 is ₹550.0.
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 22-Sep-2026 the market cap of Hi-Tech Gears stood at ₹1,016.3 Cr
The latest P/E ratio of Hi-Tech Gears as of 22-Sep-2026 is 33.99.
The latest P/B ratio of Hi-Tech Gears as of 22-Sep-2026 is 2.03.
The 52-week high of Hi-Tech Gears is ₹894.8 and the 52-week low is ₹516.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hi-Tech Gears is ₹659 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that The Hi-Tech Gears Ltd is a below average 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 Fair 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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