HBL Power Systems Ltd - Stock Valuation and Financial Performance

BSE: 517271 | NSE: HBLPOWER | Batteries | Small Cap

HBL Power Sys Share Price

454.50 -6.70 -1.45%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on HBL Power Sys

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

HBL Power Systems stock performance -

mw4me loader
P/E Ratio (SA):
56.06
Market Cap:
12,784.2 Cr.
52-wk low:
86.1
52-wk high:
612

Is HBL Power Systems Ltd an attractive stock to invest in?

1. Is HBL Power Systems Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that HBL Power Systems Ltd is a average quality company.

2. Is HBL Power Systems Ltd undervalued or overvalued?

The key valuation ratios of HBL Power Systems Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is HBL Power Systems Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of HBL Power Systems Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of HBL Power Sys:

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.
HBL Power Systems Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 4.8%5%4.3%5%4.7%3.6%2.7%2.4%8.7%9.3%-
Value Creation
Index
-0.7-0.6-0.7-0.6-0.7-0.8-0.8-0.8-0.4-0.3-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 1,2811,3301,2881,4071,5931,2611,0779091,2221,3502,002
Sales YoY Gr.-3.9%-3.1%9.2%13.2%-20.8%-14.6%-15.6%34.4%10.5%-
Adj EPS 0.50.60.2110.60.40.42.63.18.2
YoY Gr.-31.1%-71.2%482.4%-1%-38.8%-33.3%-2.5%566.7%19.6%-
BVPS (₹) 23.123.224.726.727.42828.228.631.534.541
Adj Net
Profit
11.415.14.227.327.116.611.210.87286.1228
Cash Flow from Ops. -45.994.916142.515716514711361122-
Debt/CF from Ops. -15.97.23.411.22.31.410.50.80.6-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 0.6%-3.3%7.8%10.5%
Adj EPS 24%26%98.1%19.6%
BVPS4.5%4.7%6.9%9.6%
Share Price 47.6% 76.9% 138.2% 405.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
22.60.743.62.21.41.48.79.421.8
Op. Profit
Mgn %
8.51110.59.27.97.67.37.511.110.916.5
Net Profit
Mgn %
0.91.10.31.91.71.311.25.96.411.4
Debt to
Equity
1.31.20.90.60.50.30.20.10.10.1-
Working Cap
Days
28428226223822325626227820621192
Cash Conv.
Cycle
17717717415815719019520514814258

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 21.80%

Net Profit is growing at healthy rate in last 3 years 98.11%

Sales growth is good in last 4 quarters at 52.72%

Sales growth has been subdued in last 3 years 7.81%

Latest Financials - HBL Power Systems Ltd.

Standalone Consolidated
TTM EPS (₹) 8.2 8.5
TTM Sales (₹ Cr.) 2,002 2,026
BVPS (₹.) 41 41.1
Reserves (₹ Cr.) 1,108 1,110
P/BV 11.25 11.23
PE 56.06 54.58
From the Market
52 Week Low / High (₹) 86.10 / 612.00
All Time Low / High (₹) 0.26 / 612.00
Market Cap (₹ Cr.) 12,784
Equity (₹ Cr.) 27.7
Face Value (₹) 1
Industry PE 27.6

Management X-Ray of HBL Power Sys:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of HBL Power Sys

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales1,2811,3301,2881,4071,5931,2611,0779091,2211,350
Operating Expenses 1,1811,1851,1531,2771,4671,1669998411,0861,202
Manufacturing Costs174156158166185150136118144155
Material Costs7898237758831,062819681564749827
Employee Cost 94939893918184779099
Other Costs 1241131231351301169882104122
Operating Profit 100145135130126967868135148
Operating Profit Margin (%) 7.8%10.9%10.5%9.2%7.9%7.6%7.3%7.5%11.1%10.9%
Other Income 1017131723131791418
Interest 767168464131221476
Depreciation 39515048464440383534
Exceptional Items 57-15-9-3-1075-5111
Profit Before Tax 5225205052403819118126
Tax 711121623151452931
Profit After Tax 4515834302524158996
PAT Margin (%) 3.5%1.1%0.6%2.4%1.9%2.0%2.2%1.6%7.3%7.1%
Adjusted EPS (₹)1.80.60.31.21.10.90.90.53.23.5
Dividend Payout Ratio (%)11%35%81%20%23%33%35%67%12%13%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 585588624739761777783793872956
Share Capital 25252528282828282828
Reserves 560562599712733749755765844928
Minority Interest0000000000
Debt656625520456343215140574766
Long Term Debt22419910426560102838
Short Term Debt432427415430338209140471928
Trade Payables2931821641651247676678697
Others Liabilities 250203172143163150159144175236
Total Liabilities 1,7851,5981,4791,5041,3901,2191,1581,0611,1801,354

Fixed Assets

Gross Block709737756799778748744712691750
Accumulated Depreciation235293341382415428443435428434
Net Fixed Assets474444415416363320301277263317
CWIP 56494833263727438149
Investments 2923158333358
Inventories598509393404364321303284302331
Trade Receivables458409442489467379317274308324
Cash Equivalents 4646312319317467103144
Others Assets123118136130148127132113119181
Total Assets 1,7851,5981,4791,5041,3901,2191,1581,0611,1801,354

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -46951614215716514711361122
PBT -425205052403819118126
Adjustment 617510088745845482642
Changes in Working Capital -100-057-8857847846-57-10
Tax Paid -3-5-16-8-26-18-13-1-27-36
Cash Flow From Investing Activity 166-24-1561-62-3-24-17-48
Capex -15-28-18-38-10-1-7-29-20-51
Net Investments 1770-140000-2-3
Others 54494434456
Cash Flow From Financing Activity -115-66-152-114-149-163-114-103-228
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -173-39-54-10-19-1-1212017
Interest Paid -27-13-43-37-28-21-13-7-2-4
Dividend Paid -4-6-6-8-8-8-17-3-10-11
Others 89-9-49-59-93-133-71-94-307
Net Cash Flow 55-6-113430-142282
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)7.962.491.294.973.953.273.091.8510.7410.45
ROCE (%)9.557.427.268.077.936.626.143.8114.1513.58
Asset Turnover Ratio0.790.850.911.031.120.970.910.821.091.07
PAT to CFO Conversion(x)-1.026.3320.131.245.236.66.137.530.691.27
Working Capital Days
Receivable Days1181101111111071221181198785
Inventory Days1371411189586991061188786
Payable Days1121058168504541463740

HBL Power Systems Ltd Stock News

HBL Power Systems Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of HBL Power Sys on 28-Mar-2024 16:01 is ₹454.5.
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 28-Mar-2024 16:01 the market cap of HBL Power Sys stood at ₹12,784.2.
The latest P/E ratio of HBL Power Sys as of 28-Mar-2024 16:01 is 56.06.
The latest P/B ratio of HBL Power Sys as of 28-Mar-2024 16:01 is 11.25.
The 52-week high of HBL Power Sys is ₹612.0 and the 52-week low is ₹86.10.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of HBL Power Sys is ₹2,002 ( Cr.) .

About HBL Power Systems Ltd

HBL Power Systems is the pioneer in the design, development and manufacture of specialized batteries and DC systems in India. It has more than 30 years of experience in the field of specialized batteries and DC power systems.

The company is the result of a merger between Hyderabad Batteries (1977) and SABNIFE Power Systems (1986). The company has its headquarters in Hyderabad, India with factories and sales offices in various parts of the country. HBL also has offices, distributors and agents all over the globe to cater to its ever-growing export business.

HBL is committed to improving global competitiveness by sharing knowledge, drive for innovation, growth, and investments in internationally benchmarked technology and niche products.

The company’s aim is to organize India's engineering talent into a globally competitive business, whether in manufacturing or in services.

Product Range:

  • Batteries - Nickel Cadmium, Lead Acid, Lithium and Silver Zinc
  • Electronics - Railway Electronics, Defence Electronics and Thyristor control Rectifiers
  • Others - Anti Infra Red Coating

Divisions:

  • HBL Rail - HBLRAIL, a unit of HBL Power Systems Limited is associated with the Indian Railways for over 25 years and has been a regular and approved supplier of batteries, power systems and electronic signaling products. It is a one stop shop for all railway signaling needs, starting from design, equipment supply to complete turnkey works contracts.
  • HBL Microwave  - HBL Microwave is focused on defence electronics. Unlike batteries and railway products where almost all development was done in house, HBL has collaborated with companies abroad for most of its defence electronics products. Radar and Electronic warfare : Joint venture with ELTA, Israel.
  • HBL Batteries

Subsidiary:

  • HBL (UK)
  • HBL Power Systems (M) SDN BHD
  • Bhagirath Energy Systems (BES)

Certifications:

a) Nickel Cadmium :

  • Pocket Plate, Valve Regulated Pocket Plate, Fibre Plate - ISO 9001, ISO 14001, IEC 60623 Certification (CSA), Bump Test, Vibration Test, Seismic Test, IEC 60623 Certification and OHSAS 18001 Certification
  • Sintered Plate - ISO 9001

b) Silver Zinc - ISO 9001

c) Lead Acid - VRLA Single Cells, VRLA Monoblocks, LMLA, VRLA GEL - ISO 9001, ISO 14001, IEC 60896 Certification (CSA) for VRLA Single Cells , IEC 60896 and Certification (CSA) for Monoblocks

c) Lithium - ISO 9001

d) Electronics - Thyristor Control Rectifiers, DC-DC Convertors and Defence Chargers - ISO 9001.

In 2009 Hbl Power Systems sets up JV Company in Saudi Arabia to manufacture of Industrial Batteries.

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