Hind Rectifiers Ltd - Stock Valuation and Financial Performance

BSE: 504036 | NSE: HIRECT | Electric Equipment | Small Cap

Hind Rectifiers Share Price

725 21.20 3.01%
as on 12-Jul'24 16:01

DeciZen - make an informed investing decision on Hind Rectifiers

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Hind Rectifiers stock performance -

mw4me loader
P/E Ratio (SA):
99.08
Market Cap:
1,239.6 Cr.
52-wk low:
272.1
52-wk high:
815.4

Is Hind Rectifiers Ltd an attractive stock to invest in?

1. Is Hind Rectifiers Ltd a good quality company?

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

2. Is Hind Rectifiers Ltd 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.

3. Is Hind Rectifiers Ltd a good buy now?

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

10 Year X-Ray of Hind Rectifiers:

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.
Hind Rectifiers Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % -2.2%0.9%2.2%5.2%12.9%14.9%6.8%7%3.7%11.4%-
Value Creation
Index
-1.2-0.9-0.8-0.6-0.10.1-0.5-0.5-0.7-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 9493.9111126255300305372359518518
Sales YoY Gr.--0%18.7%12.8%103%17.4%1.8%22%-3.5%44.1%-
Adj EPS -2.3-1-10.86.811.23.74.70.810.27.3
YoY Gr.-NANANA760.8%65%-67.1%26.6%-82.9%1171.3%-
BVPS (₹) 40.839.834.24047.257.760.264.664.872.372.3
Adj Net
Profit
-3.6-1.5-1.61.311.318.66.17.71.417.413
Cash Flow from Ops. 25.2-3.3-3.66.54.421.736.33333.9-
Debt/CF from Ops. 13.26.1-12.6-149.820.23.92.13.23.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 20.9%15.2%19.3%44.1%
Adj EPS NA8.4%40.2%1171.3%
BVPS6.6%8.9%6.3%11.7%
Share Price 31.6% 43.1% 62.9% 149.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
-5.6-2.4-2.72.215.621.46.37.51.314.810.1
Op. Profit
Mgn %
-2.62.24.27.87.512.76.96.14.48.78.6
Net Profit
Mgn %
-3.9-1.6-1.414.46.222.10.43.42.4
Debt to
Equity
0.40.50.80.80.80.90.80.70.910.2
Working Cap
Days
34033525326417519121116717814163
Cash Conv.
Cycle
22620315115599112129991008311

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 10.10%

Sales growth is growing at healthy rate in last 3 years 19.26%

Net Profit is growing at healthy rate in last 3 years 40.21%

Sales growth is good in last 4 quarters at 45.12%

Debt to equity has increased versus last 3 years average to 1.04

Latest Financials - Hind Rectifiers Ltd.

Standalone Consolidated
TTM EPS (₹) 7.3 -
TTM Sales (₹ Cr.) 518 -
BVPS (₹.) 72.3 -
Reserves (₹ Cr.) 121 -
P/BV 10.00 -
PE 99.08 -
From the Market
52 Week Low / High (₹) 272.10 / 815.35
All Time Low / High (₹) 0.86 / 815.35
Market Cap (₹ Cr.) 1,240
Equity (₹ Cr.) 3.4
Face Value (₹) 2
Industry PE 107.8

Management X-Ray of Hind Rectifiers:

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 Hind Rectifiers

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales9494111126255300305372359518
Operating Expenses 9692107116236262285349344473
Manufacturing Costs33335556811
Material Costs70667988186209236288280384
Employee Cost 16171918223033373952
Other Costs 7666231812181725
Operating Profit -22510193820231545
Operating Profit Margin (%) -2.6%2.2%4.2%7.8%7.5%12.7%6.6%6.1%4.3%8.7%
Other Income 0110800001
Interest 23568897813
Depreciation 1222344457
Exceptional Items 00-800000-11-7
Profit Before Tax -6-2-1021726711-918
Tax -2-1-315823-25
Profit After Tax -4-2-71121858-613
PAT Margin (%) -3.8%-1.6%-6.3%1.0%4.6%6.2%1.7%2.1%-1.8%2.4%
Adjusted EPS (₹)-2.3-1.0-4.50.87.111.23.24.7-3.77.3
Dividend Payout Ratio (%)0%0%0%0%6%7%12%9%0%16%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 636253667896100107111124
Share Capital 3333333333
Reserves 60595063759296104108121
Minority Interest0000000000
Debt263240485984776795119
Long Term Debt06610171511212423
Short Term Debt25253338426966467196
Trade Payables19221228333942485347
Others Liabilities 43-3081818222938
Total Liabilities 112119102142178238237244288329

Fixed Assets

Gross Block3135364647576880115132
Accumulated Depreciation13151618212428323642
Net Fixed Assets18212027263341488090
CWIP 1254141820282122
Investments 0000060000
Inventories22332734546969779297
Trade Receivables57453655638188686889
Cash Equivalents 1512232112
Others Assets12141318182719212629
Total Assets 112119102142178238237244288329

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 25-3-46422363334
PBT -6-2-1021726711-918
Adjustment 4577101112113031
Changes in Working Capital 43-1-13-18-2941612-14
Tax Paid 0010-2-4-2-2-10
Cash Flow From Investing Activity -3-5-4-10-10-22-8-20-29-19
Capex -3-5-4-11-11-15-13-20-29-14
Net Investments 00000-6600-6
Others 00000-1-1000
Cash Flow From Financing Activity 03415319-15-17-4-14
Net Proceeds from Shares 00012000000
Net Proceeds from Borrowing 0600000000
Interest Paid -2-3-5-5-7-7-9-7-8-12
Dividend Paid 0000000-1-10
Others 30981126-6-95-2
Net Cash Flow 04-31-11-1000
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)-5.54-2.41-12.112.216.3321.275.467.54-5.8410.65
ROCE (%)-4.021.19-4.677.5418.9121.028.9710.12-0.0913.23
Asset Turnover Ratio0.890.861.091.041.61.441.281.551.351.68
PAT to CFO Conversion(x)N/AN/AN/A-40.50.224.44.5N/A2.62
Working Capital Days
Receivable Days2031871221318588101766955
Inventory Days971019088637582718667
Payable Days961138083606363576648

Hind Rectifiers Ltd Stock News

Hind Rectifiers Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Hind Rectifiers on 12-Jul-2024 16:01 is ₹725.0.
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 12-Jul-2024 16:01 the market cap of Hind Rectifiers stood at ₹1,239.6.
The latest P/E ratio of Hind Rectifiers as of 12-Jul-2024 16:01 is 99.08.
The latest P/B ratio of Hind Rectifiers as of 12-Jul-2024 16:01 is 10.00.
The 52-week high of Hind Rectifiers is ₹815.4 and the 52-week low is ₹272.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hind Rectifiers is ₹517.5 ( 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

Trading

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