Is Hind Rectifiers Ltd (HIRECT) a good quality company?

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

Is Hind Rectifiers Ltd (HIRECT) undervalued or overvalued?

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

What is Hind Rectifiers Ltd (HIRECT) share price return in the past 10 years?

Hind Rectifiers Ltd share price has appreciated 39.1% annually (CAGR) over the past ten years.

Is Hind Rectifiers Ltd (HIRECT) a good buy now?

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

What is the share price of Hind Rectifiers Ltd (HIRECT)?

Company share prices are keep on changing according to the market conditions. The current trading price of Hind Rectifiers Ltd (HIRECT) on 17-Apr-2026 16:59:59 at 16:59 is 897.30.

What is the P/E ratio of Hind Rectifiers?

The latest standalone P/E ratio of Hind Rectifiers as of 17-Apr-2026 is 59.78.

What is the P/B ratio of Hind Rectifiers Ltd (HIRECT)?

The latest standalone P/B ratio of Hind Rectifiers Ltd (HIRECT) as of 17-Apr-2026 is 14.80.

What is the 52-week high and low of Hind Rectifiers Ltd (HIRECT)?

The 52-week high of Hind Rectifiers Ltd (HIRECT) is Rs. 1050.50 and the 52-week low is Rs. 433.35.

Hind Rectifiers Ltd (HIRECT) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: Hind Rectifiers Ltd (HIRECT)
Brand: Hind Rectifiers

Hind Rectifiers Ltd (HIRECT) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Hind Rectifiers Ltd (HIRECT)

BSE: 504036 NSE: HIRECT

Key Metrics

Market Cap

₹3,075 Cr.

P/E Ratio

59.78

Price to Book (P/B)

14.80

Price to Sales (P/S)

3.53

EV/EBITDA

33.85

Return on Capital Employed (ROCE)

22.35%

Current Price

₹897.3

Return on Equity (ROE)

26.28%

Return on Assets (ROA)

9.99%

Operating Profit Margin

10.8%

Net Profit Margin

5.69%

Gross Profit Margin

Book Value per Share

₹60.5

Sales Growth (YoY)

26.63%

Sales Growth (3 Years)

20.77%

Operating Profit Growth (1 Year)

70.03%

Operating Profit Growth (3 Years)

46.33%

Net Profit Growth (1 Year)

197.92%

52-Week Low / High

₹433 / 1,051

Net Profit Growth (3 Years)

68.44%

Dividend Yield

0.21%

Promoter Holding

43.93%

Pledged shares (%)
of Promoter's holding (%)

6.81%

Check Before You Invest

Q.1 Revenue growth of Hind Rectifiers Ltd?

Hind Rectifiers Ltd revenue growth is 26.6% for FY-2025 , which is above its 5 year CAGR of 17% , indicating faster growth.

Q.1 Promoter shareholding and pledge status of Hind Rectifiers Ltd?

Promoters hold 43.93% of the Hind Rectifiers Ltd, with 6.81% of their stake pledged, indicating low pledge risk.

Q.1 Revenue growth of Hind Rectifiers Ltd vs industry peers?

Hind Rectifiers Ltd revenue CAGR is 16.95% , compared to the industry median CAGR of 13.21% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Hind Rectifiers Ltd belong to?

Hind Rectifiers Ltd belongs to the Capital Goods & Industrial Consumables sector, operating specifically within the Electric Equipment segment.

Q.1 Stock return of Hind Rectifiers Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 39.2% based on the current price.

DeciZen - make an informed investing decision on Hind Rectifiers

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation ⓘ

3. Price Trend

Hind Rectifiers stock performance

Key Ratios

Is Hind Rectifiers Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

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

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	1.2%	-4.7%	7.5%	18.9%	21%	9%	10.1%	-0.1%	13.2%	22.4%	-
Value Creation Index ⓘ	-0.9	-1.3	-0.5	0.4	0.5	-0.4	-0.3	-1.0	-0.1	0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	93.9	111	126	255	300	305	372	359	518	655	870
Sales YoY Gr.	-	18.7%	12.8%	103%	17.4%	1.8%	22%	-3.5%	44.1%	26.6%	-
Adj EPS ⓘ	-0.5	-0.5	0.4	3.4	5.6	1.9	2.3	0.4	5.1	10.6	15
YoY Gr.	-	NA	NA	750%	65%	-67%	26%	-82.8%	1170%	109.3%	-
BVPS (₹) ⓘ	19.9	17.1	20	23.6	28.9	30.1	32.3	32.4	36.2	46.5	60.5
Adj Net Profit ⓘ	-1.5	-1.6	1.3	11.3	18.6	6.1	7.7	1.4	17.4	36.5	51
Cash Flow from Ops. ⓘ	5.2	-3.3	-3.6	6.5	4.4	21.7	36.3	33	33.9	35.6	-
Debt/CF from Ops. ⓘ	6.1	-12.6	-14	9.8	20.2	3.9	2.1	3.2	3.8	4.5	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	24.1%	17%	20.8%	26.6%
Adj EPS ⓘ	NA	13.6%	65.9%	109.3%
BVPSⓘ	9.9%	10%	12.9%	28.6%
Share Price	39.1%	69.7%	105.7%	81.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	-2.4	-2.7	2.2	15.6	21.4	6.3	7.5	1.3	14.8	25.7	28
Op. Profit Mgn % ⓘ	2.2	4.2	7.8	7.5	12.7	6.9	6.1	4.4	8.1	10.8	11
Net Profit Mgn % ⓘ	-1.6	-1.4	1	4.4	6.2	2	2.1	0.4	3.4	5.6	5.9
Debt to Equity ⓘ	0.5	0.8	0.8	0.8	0.9	0.8	0.7	0.9	1	1	-
Working Cap Days ⓘ	335	253	264	175	191	211	167	178	141	142	62
Cash Conv. Cycle ⓘ	203	151	155	99	112	129	99	100	83	81	10

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	15	14.7
TTM Sales (₹ Cr.)	870	904
BVPS (₹) ⓘ	60.5	60
Reserves (₹ Cr.) ⓘ	201	199
P/BV ⓘ	14.80	14.90
PE ⓘ	59.78	60.90

From the Market
52 Week Low / High (₹)	433.35 / 1050.50
All Time Low / High (₹)	0.43 / 1050.50
Market Cap (₹ Cr.)	3,075
Equity (₹ Cr.)	6.9
Face Value (₹)	2
Industry PE ⓘ	57.1

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

6.81

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

Valuation of Hind Rectifiers - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	94	111	126	255	300	305	372	359	518	655
Operating Expenses ⓘ +	92	107	116	236	262	285	349	344	476	584
Manufacturing Costs	3	3	3	5	5	5	6	8	11	11
Material Costs	66	79	88	186	209	236	288	280	384	478
Employee Cost	17	19	18	22	30	33	37	39	52	63
Other Costs ⓘ	6	6	6	23	18	12	18	17	28	32
Operating Profit ⓘ	2	5	10	19	38	20	23	15	42	71
Operating Profit Margin (%)	2.2%	4.2%	7.8%	7.5%	12.7%	6.6%	6.1%	4.3%	8.1%	10.8%
Other Income ⓘ +	1	1	0	8	0	0	0	0	4	1
Exceptional Items ⓘ	0	-8	0	0	0	0	0	-11	-7	0
Interest ⓘ	3	5	6	8	8	9	7	8	13	14
Depreciation ⓘ	2	2	2	3	4	4	4	5	7	8
Profit Before Tax ⓘ	-2	-10	2	17	26	7	11	-9	18	50
Tax ⓘ	-1	-3	1	5	8	2	3	-2	5	13
Profit After Tax	-2	-7	1	12	18	5	8	-6	13	37
PAT Margin (%)	-1.6%	-6.3%	1.1%	4.6%	6.2%	1.8%	2.1%	-1.8%	2.4%	5.7%
Adjusted EPS (₹)	-0.5	-2.2	0.4	3.6	5.6	1.6	2.4	-1.9	3.7	10.9
Dividend Payout Ratio (%)	0%	0%	0%	6%	7%	12%	9%	0%	16%	9%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	62	53	66	78	96	100	107	111	124	160
Share Capital ⓘ	3	3	3	3	3	3	3	3	3	3
Reserves ⓘ	59	50	63	75	92	96	104	108	121	156
Debt +	32	40	48	59	84	77	67	95	119	149
Long Term Debt	6	6	10	17	15	11	21	24	23	28
Short Term Debt	25	33	38	42	69	66	46	71	96	120
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	22	12	28	33	39	42	48	53	47	60
Others Liabilities ⓘ	3	-3	-0	8	18	18	22	29	38	49
Total Liabilities ⓘ	119	102	142	178	238	237	244	288	329	418
Fixed Assets
Net Fixed Assets ⓘ +	21	20	27	26	33	41	48	80	90	107
Gross Block	35	36	46	47	57	68	80	115	130	150
Accumulated Depreciation	15	16	18	21	24	28	32	36	41	43
CWIP ⓘ	2	5	4	14	18	20	28	21	22	12
Investments ⓘ	0	0	0	0	6	0	0	0	0	0
Inventories	33	27	34	54	69	69	77	92	97	121
Trade Receivables	45	36	55	63	81	88	68	68	89	110
Cash Equivalents	5	1	2	2	3	2	1	1	2	1
Others Assets ⓘ	14	13	18	18	27	19	21	26	29	67
Total Assets ⓘ	119	102	142	178	238	237	244	288	329	418

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	5	-3	-4	6	4	22	36	33	34	36
PBT ⓘ	-2	-10	2	17	26	7	11	-9	18	50
Adjustment ⓘ	5	7	7	10	11	12	11	30	31	36
Changes in Working Capital ⓘ	3	-1	-13	-18	-29	4	16	12	-14	-42
Tax Paid ⓘ	-0	1	0	-2	-4	-2	-2	-1	-0	-8
Cash Flow From Investing Activity ⓘ +	-5	-4	-10	-10	-22	-8	-20	-29	-19	-25
Capex	-5	-4	-11	-11	-15	-13	-20	-29	-14	-21
Net Investments	-0	0	-0	0	-6	6	-0	0	-6	-4
Others ⓘ	0	0	0	0	-1	-1	0	0	0	0
Cash Flow From Financing Activity ⓘ +	3	4	15	3	19	-15	-17	-4	-14	-11
Net Proceeds from Shares ⓘ	0	0	12	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	6	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-3	-5	-5	-7	-7	-9	-7	-8	-12	-13
Dividend Paid ⓘ	0	0	0	0	0	0	-1	-1	0	-2
Others ⓘ	-0	9	8	11	26	-6	-9	5	-2	4
Net Cash Flow ⓘ	4	-3	1	-1	1	-1	-0	0	0	-0

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	-2.41	-12.11	2.2	16.33	21.27	5.46	7.54	-5.84	10.65	26.28
ROCE (%)	1.19	-4.67	7.54	18.91	21.02	8.97	10.12	-0.09	13.23	22.35
Asset Turnover Ratio	0.86	1.09	1.04	1.6	1.44	1.28	1.55	1.35	1.68	1.76
PAT to CFO Conversion(x)	N/A	N/A	-4	0.5	0.22	4.4	4.5	N/A	2.62	0.97
Working Capital Days
Receivable Days	187	122	131	85	88	101	76	69	55	55
Inventory Days	101	90	88	63	75	82	71	86	67	61
Payable Days	113	80	83	60	63	63	57	66	48	41

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Hind Rectifiers Ltd FAQs

The current trading price of Hind Rectifiers on 17-Apr-2026 16:59 is ₹897.3.

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 16-Apr-2026 the market cap of Hind Rectifiers stood at ₹3,075.2 Cr

The latest P/E ratio of Hind Rectifiers as of 16-Apr-2026 is 59.78.

The latest P/B ratio of Hind Rectifiers as of 16-Apr-2026 is 14.80.

The 52-week high of Hind Rectifiers is ₹1,050.5 and the 52-week low is ₹433.4.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hind Rectifiers is ₹870 ( Cr.) .

About Hind Rectifiers Ltd

Hind Rectifiers Ltd.(Hirect) was founded in 1958, in collaboration with Westinghouse, Brake & Signal, U.K. Hind Rectifiers Ltd., has long standing tradition and experience in developing, designing, manufacturing and marketing Power Semiconductors, Power Electronic Equipments and Railway Transportation Equipments.

During this period Hirect has established considerable expertise in its area of activity and caters to wide range of application such as Electronics, Railway Transportation, Power, Telecommunication and core sector industries like steel, non-ferrous metals, cement, chemicals, metal finishing and a host of other industries. Customers have recognized the high quality of Hirect products.

In the Year 1959-60, Hirect shifted the activities to the present location of 20,000sq. Meters campus at Bhandup, Mumbai.

The plant for manufacturing power silicon diodes was imported from Westinghouse Brake & signal Co. Ltd. UK in the year 1966. Starting early 70's Hirect started manufacture of equipments like battery chargers, High Voltage and High Current Rectifiers for Railway Applications were also started about the same time.

Supreme Powertronics Pvt. Ltd., Nashik which began operations as a sister concern around mid 80's was amalgamated with HIRECT in 1995.

In the year 2001, new manufacturing facilities were created in Bhandup, Mumbai for manufacturing 25 KVA invertor to 180 KVA convertor for Indian Railways.

HIRECT has entered its Golden Jubilee year from April 2007 and to commemorate the occasion Hirect Inaugurated two more plants at Dehradun New Delhi on 13th April 2007 to manufacturing power equipments for Railways.

Product range of the company includes:

Semiconductor

Power Diodes
Thyristors
Power Module
Power Stacks
Special Products

Equipment

High Voltage
High Current
Power Electronics
Special Products

Transportation Rectifiers Transformers Converters & Inverters

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
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Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
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Hind Rectifiers Ltd (HIRECT) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Hind Rectifiers Share Price