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High Energy Batteries (India) Ltd (504176)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504176 NSE: Batteries | Small Cap | High Energy Batterie Share Price

₹500.05 9.10 (1.85%)

As on 05-Jun'26 09:55

High Energy Batteries (India) Ltd (504176)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504176 NSE: Batteries | Small Cap | High Energy Batterie Share Price

₹500.05 9.10 (1.85%)

As on 05-Jun'26 09:55

Key Metrics
Valuation Multiples
Market Cap
₹440 Cr.
Current Price
₹500.1
52-Week Low / High
₹470 / 830
TTM EPS
₹17.2
TTM Sales
₹83.1 Cr.
Book Value per Share
₹124.4
P/E Ratio
28.59
Higher than its 5-year historical median
Industry PE
24.5
Price to Book (P/B)
3.95
Lower than its 5-year historical median
Price to Sales (P/S)
5.30
In line with its 5-year historical median
EV/EBITDA
18.10
Higher than its 5-year historical median
Dividend Yield
0.60%
Profitability Efficiency
Return on Equity (ROE)
16.37%
Outperforms industry median
Return on Capital Employed (ROCE)
21.80%
Outperforms industry median
Return on Assets (ROA)
13.13%
Operating Profit Margin
21.4%
Net Profit Margin
18.93%
Gross Profit Margin
26.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
3.66%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-16.14%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-10.66%
Asset Quality
Promoter Holding
43.07%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹110 Cr.
Equity
₹1.8 Cr.
Face Value
₹2
All Time Low / High
₹4.59 / 1058.80

High Energy Batteries (India) stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Weak
Q.1 Is High Energy Batteries (India) Ltd a good quality company?
High Energy Batteries (India) 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 High Energy Batteries (India) Ltd performance compare with that of its Peers?
Q.1 Revenue growth of High Energy Batteries (India) Ltd vs industry peers?
High Energy Batteries (India) Ltd revenue CAGR is 5.67%, compared to the industry median CAGR of 5.68%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of High Energy Batteries (India) Ltd?
Promoters hold 43.07% of the High Energy Batteries (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of High Energy Batteries (India) Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 34.1% 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.
High Energy Batteries (India) 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 % -13%17.7%21.1%10.5%25.4%43.8%36.4%35.1%26.9%21.8%-
Value Creation
Index
-1.90.30.5-0.30.82.11.61.50.90.6-

Growth Parameters

Sales 22.847.259.446.661.577.879.692.878.18183
Sales YoY Gr.-107.2%25.8%-21.5%31.9%26.6%2.2%16.7%-15.8%3.7%-
Adj EPS -10.8-13.60.56.220.42022.919.117.117.2
YoY Gr.-NANA-86%1115.7%229.7%-2.2%14.4%-16.3%-10.6%-
BVPS (₹) 2.516.620.420.826.546.862.18297.8111.1124.4
Adj Net
Profit
-9.7-0.93.30.55.618.317.920.517.215.315
Cash Flow from Ops. 7-32.65.211.29.216.117.323.53.9-
Debt/CF from Ops. 4-8.915.37.52.93.81.51.20.22.9-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15.1%5.7%0.6%3.7%
Adj EPS NA22.5%-5.1%-10.6%
BVPS52.2%33.2%21.4%13.6%
Share Price 32.3% 16.6% 4.5% -30.2%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-169.9-10.719.72.526.355.836.731.721.316.414.6
Op. Profit
Mgn %
-28.515.919.715.516.938.536.832.626.521.522.9
Net Profit
Mgn %
-42.6-25.51923.522.522.12218.918.5
Debt to
Equity
12.21.82.22.11.40.80.40.30.10.10
Working Cap
Days
547263259350260229272268330332185
Cash Conv.
Cycle
348120121178142147199212265257124

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales23475947617880937881
Operating Expenses + 29404839514850635764
Manufacturing Costs23434345711
Material Costs15242821252626312423
Employee Cost 681010111215161720
Other Costs 6665116511810
Operating Profit -68127103029302117
Operating Profit Margin (%) -28.5%15.9%19.7%15.4%16.9%38.5%36.8%32.6%26.5%21.4%
Other Income + 0000500256
Exceptional Items 2000000000
Interest 5566654321
Depreciation 1111111111
Profit Before Tax -1115192425272321
Tax -4210367765
Profit After Tax -7-13061818201715
PAT Margin (%) -30.2%-1.8%5.5%0.9%9.1%23.6%22.6%22.1%22.0%18.9%
Adjusted EPS (₹)-7.7-1.03.70.56.320.520.022.919.117.1
Dividend Payout Ratio (%)0%0%0%0%0%14.70%15%15.30%15.70%17.50%

Valuation of High Energy Batterie - 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 21518192442567388100
Share Capital 2222222222
Reserves 0131617224054728698
Debt +2827403832312421511
Long Term Debt00991030000
Short Term Debt2827312922282421511
Minority Interest0000000000
Trade Payables8161414754335
Others Liabilities 719810111614171210
Total Liabilities 45778180749498115108125

Fixed Assets

Net Fixed Assets +15343332313130404143
Gross Block36353536363737485053
Accumulated Depreciation211345678910
CWIP 0000000000
Investments 0111111123
Inventories17242625282935353940
Trade Receivables714151791820292027
Cash Equivalents 2141165123
Others Assets 3334497859
Total Assets 45778180749498115108125

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 7-3351191617244
PBT -1115192425272321
Adjustment 2567765643
Changes in Working Capital 16-10-8-2-4-20-7-94-15
Tax Paid -00-00-0-1-7-7-7-5
Cash Flow From Investing Activity + 6-0-0-0-0-1-1-11-2-7
Capex 6-0-0-0-0-1-0-11-2-3
Net Investments 000000-0-1-1-4
Others 00-0000000-0
Cash Flow From Financing Activity + -1721-7-11-3-17-10-212
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -2000000000
Interest Paid -5-4-5-6-6-5-4-3-2-1
Dividend Paid 000000-3-3-3-3
Others -965-2-62-10-4-166
Net Cash Flow -4-13-2-16-1-4-0-1

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-120.48-10.0619.852.3726.4455.836.7731.7321.2916.37
ROCE (%)-13.0317.6921.0710.5325.4243.8436.3835.126.8521.8
Asset Turnover Ratio0.420.790.760.580.80.930.830.870.70.69
PAT to CFO Conversion(x)N/AN/A1N/A1.830.50.890.851.410.27
Working Capital Days
Receivable Days138.7080.7087.50122.4076.6064.308795.10114.60106.20
Inventory Days339.10157.80152.60198.80157133.20147.40139.20173.20177.30
Payable Days201.80183.90194.70248.20153.8082.1060.9040.8046.3064.50

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

High Energy Batteries (India) Ltd FAQs

The current trading price of High Energy Batterie on 05-Jun-2026 09:55 is ₹500.1.

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 04-Jun-2026 the market cap of High Energy Batterie stood at ₹440.1 Cr

The latest P/E ratio of High Energy Batterie as of 04-Jun-2026 is 28.59.

The latest P/B ratio of High Energy Batterie as of 04-Jun-2026 is 3.95.

The 52-week high of High Energy Batterie is ₹830.4 and the 52-week low is ₹470.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of High Energy Batterie is ₹83.10 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that High Energy Batteries (India) Ltd is a good quality company.

The key valuation ratios of High Energy Batteries (India) 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 Weak which suggest that the price of High Energy Batteries (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About High Energy Batteries (India) Ltd

Established in the year 1979, High Energy Batteries (India) is an established manufacturer of Hi Tech batteries for use in Army, Navy, Airforce and Launch Vehicles. The company also exports products to various countries.

The company has a strong base of in-house Research and Development wing to design, develop and establish manufacturing of batteries - Silver Oxide Zinc, Nickel Cadmium, Silver Chloride Magnesium for stringent applications such as Underwater propulsion, Control guidance, Communication, Emergency starting and for aerospace applications.

The company is also engaged in the Research and Development of Nickel Metal Hydride Cells, Fuel Cells and Cuprous Chloride Chemistry. The company can undertake any developmental activity and establish the technology for the manufacture of electrochemical systems for use in critical demanding applications.

Product range of the company includes:

  • Aircraft Batteries 
  • Helicopter Batteries 
  • Torpedo Batteries 
  • Aerospace Batteries 
  • Industrial Nickel Cadmium Cells 
  • Launch Vehicle Applications 
  • Rail Road & UPS Batteries 
  • Batteries for Other Applications

Achievements/ recognition:-

Certification

  • ISO 9001: 2000
  • ISO 14001: 2000

Awards

  • National Awards for R&D Efforts in Industry 2004
  • National Awards for Indigenisation
  • National Awards for R&D Efforts in Industry 1990
  • NSTL-Industry-Awards-2007
  • SMB- AWARD
  • Tech- Ab- Award
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