Is Hardcastle & Waud Manufacturing Company Ltd (509597) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Hardcastle & Waud Manufacturing Company Ltd is a below average quality company .

Is Hardcastle & Waud Manufacturing Company Ltd (509597) undervalued or overvalued?

The key valuation ratios of Hardcastle & Waud Manufacturing Company Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is Hardcastle & Waud Manufacturing Company Ltd (509597) share price return in the past 10 years?

Hardcastle & Waud Manufacturing Company Ltd share price has appreciated 7.6% annually (CAGR) over the past ten years.

Is Hardcastle & Waud Manufacturing Company Ltd (509597) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Hardcastle & Waud Manufacturing Company 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 Hardcastle & Waud Manufacturing Company Ltd (509597)?

Company share prices are keep on changing according to the market conditions. The current trading price of Hardcastle & Waud Manufacturing Company Ltd (509597) on 17-Apr-2026 16:59:59 at 16:59 is 704.90.

What is the P/E ratio of Hardcastle & Waud Manufacturing Company?

The latest standalone P/E ratio of Hardcastle & Waud Manufacturing Company as of 17-Apr-2026 is 16.12.

What is the P/B ratio of Hardcastle & Waud Manufacturing Company Ltd (509597)?

The latest standalone P/B ratio of Hardcastle & Waud Manufacturing Company Ltd (509597) as of 17-Apr-2026 is 0.98.

What is the 52-week high and low of Hardcastle & Waud Manufacturing Company Ltd (509597)?

The 52-week high of Hardcastle & Waud Manufacturing Company Ltd (509597) is Rs. 899.00 and the 52-week low is Rs. 602.25.

Hardcastle & Waud Manufacturing Company Ltd (509597) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Hardcastle & Waud Manufacturing Company Ltd (509597)
Brand: Hardcastle & Waud Manufacturing Company

Hardcastle & Waud Manufacturing Company Ltd (509597) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Key Metrics

Market Cap

₹48 Cr.

P/E Ratio

16.12

Price to Book (P/B)

0.98

Price to Sales (P/S)

5.31

EV/EBITDA

9.92

Return on Capital Employed (ROCE)

6.18%

Current Price

₹704.9

Return on Equity (ROE)

2.86%

Return on Assets (ROA)

2.72%

Operating Profit Margin

52.9%

Net Profit Margin

21.85%

Gross Profit Margin

59.5%

Book Value per Share

₹718.3

Sales Growth (YoY)

8.87%

Sales Growth (3 Years)

12.29%

Operating Profit Growth (1 Year)

-6.13%

Operating Profit Growth (3 Years)

11.12%

Net Profit Growth (1 Year)

-50%

52-Week Low / High

₹602 / 899

Net Profit Growth (3 Years)

0.39%

Dividend Yield

0.00%

Promoter Holding

73.61%

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

0.00%

Check Before You Invest

Q.1 Revenue growth of Hardcastle & Waud Manufacturing Company Ltd?

Hardcastle & Waud Manufacturing Company Ltd revenue growth is 8.9% for FY-2025 , which is below its 5 year CAGR of 10.8% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of Hardcastle & Waud Manufacturing Company Ltd?

Promoters hold 73.61% of the Hardcastle & Waud Manufacturing Company Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Hardcastle & Waud Manufacturing Company Ltd vs industry peers?

Hardcastle & Waud Manufacturing Company Ltd revenue CAGR is 10.84% , compared to the industry median CAGR of 7.7% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Hardcastle & Waud Manufacturing Company Ltd belong to?

Hardcastle & Waud Manufacturing Company Ltd belongs to the Chemicals & Fertilizers sector, operating specifically within the Chemicals segment.

Q.1 Stock return of Hardcastle & Waud Manufacturing Company Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 8.1% based on the current price.

DeciZen - make an informed investing decision on Hardcastle&Waud Mfg

Based on:

Data

M-Cap below 100cr DeciZen not available

Hardcastle & Waud Manufacturing Company stock performance

Key Ratios

Is Hardcastle & Waud Manufacturing Company 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 % ⓘ	4.1%	14.1%	3.6%	0.5%	3.4%	1.6%	4.9%	3.2%	7%	6.2%	-
Value Creation Index ⓘ	-0.7	0.0	-0.7	-1.0	-0.8	-0.9	-0.7	-0.8	-0.5	-0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	7	8.2	4.2	2.9	3.5	3.2	4.2	3.9	5.4	5.9	9
Sales YoY Gr.	-	16.8%	-48.8%	-31.4%	21.8%	-9.4%	30.4%	-6%	38.4%	8.9%	-
Adj EPS ⓘ	-134.7	59.4	16.1	1.8	13.3	0.1	18.5	16	38	19.5	43.7
YoY Gr.	-	NA	-73%	-89%	653.4%	-98.9%	13135.7%	-13.7%	137.3%	-48.7%	-
BVPS (₹) ⓘ	526.1	524.4	541.2	541.7	516.5	513.7	591.8	614.6	654.5	670	718.3
Adj Net Profit ⓘ	-9.2	4	1.1	0.1	0.9	0	1.3	1.1	2.6	1.3	3
Cash Flow from Ops. ⓘ	0.6	-1.7	-0.6	0.7	0.2	1.4	3.2	-3	3.1	0.7	-
Debt/CF from Ops. ⓘ	0	0	0	0.4	0.3	0	0	0	0	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-2%	10.8%	12.3%	8.9%
Adj EPS ⓘ	NA	8%	1.7%	-48.7%
BVPSⓘ	2.7%	5.3%	4.2%	2.4%
Share Price	7.6%	30.4%	22.1%	-5.4%

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 % ⓘ	-22.5	11.3	3	0.3	2.5	0	3.4	2.7	6	2.9	6.3
Op. Profit Mgn % ⓘ	41.3	63.7	37.2	12.8	41.9	28.3	53.6	45.1	60.2	52.9	48
Net Profit Mgn % ⓘ	-130.1	49.1	25.9	4.2	25.6	0.3	30.3	27.8	47.6	22.5	32.9
Debt to Equity ⓘ	0	0	0	0	0	0	0	0	0	0	-
Working Cap Days ⓘ	310	325	733	1,107	926	754	603	595	127	60	69
Cash Conv. Cycle ⓘ	1	-10	25	45	39	49	18	-0	-7	-16	41

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	43.7	-
TTM Sales (₹ Cr.)	9	-
BVPS (₹) ⓘ	718.3	-
Reserves (₹ Cr.) ⓘ	48	-
P/BV ⓘ	0.98	-
PE ⓘ	16.12	-

From the Market
52 Week Low / High (₹)	602.25 / 899.00
All Time Low / High (₹)	1.00 / 1387.00
Market Cap (₹ Cr.)	47.9
Equity (₹ Cr.)	0.7
Face Value (₹)	10
Industry PE ⓘ	45.3

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Valuation of Hardcastle&Waud Mfg - 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	7.04	8.22	4.21	2.89	3.52	3.19	4.16	3.91	5.41	5.89
Operating Expenses ⓘ +	5.05	2.98	2.64	2.52	2.04	2.29	1.93	2.15	2.16	2.83
Manufacturing Costs	0.38	0.19	0.09	0.09	0.19	0.19	0.16	0.20	0.18	0.19
Material Costs	1.66	1.55	1.38	1.11	0.71	0.98	0.58	0.40	0.45	0.86
Employee Cost	0.66	0.46	0.52	0.64	0.61	0.70	0.65	0.60	0.63	0.73
Other Costs ⓘ	2.34	0.78	0.67	0.68	0.53	0.42	0.54	0.94	0.90	1.04
Operating Profit ⓘ	1.99	5.24	1.57	0.37	1.48	0.90	2.23	1.76	3.26	3.06
Operating Profit Margin (%)	28.3%	63.7%	37.2%	12.8%	41.9%	28.3%	53.6%	45.1%	60.2%	52.0%
Other Income ⓘ +	0	0.16	0.13	0.20	0.17	0.14	0.20	0.19	0.44	0.44
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	0	0	0	0	0	0	0	0	0	0
Depreciation ⓘ	0.33	0.36	0.39	0.38	0.40	0.47	0.59	0.65	0.67	0.72
Profit Before Tax ⓘ	1.66	5.04	1.30	0.19	1.24	0.56	1.85	1.31	3.02	2.78
Tax ⓘ	11.45	1	0.21	0.07	0.34	0.55	0.58	0.21	0.44	1.50
Profit After Tax	-9.79	4.04	1.09	0.12	0.90	0.01	1.27	1.10	2.58	1.29
PAT Margin (%)	-139.0%	49.1%	25.9%	4.2%	25.6%	0.3%	30.6%	28.0%	47.6%	21.9%
Adjusted EPS (₹)	-144.0	59.4	16.1	1.8	13.3	0.1	18.7	16.1	37.9	18.9
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

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 +	35.75	35.63	36.77	36.81	35.10	34.91	40.22	41.76	44.48	45.52
Share Capital ⓘ	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68	0.68
Reserves ⓘ	35.07	34.95	36.09	36.13	34.42	34.23	39.54	41.08	43.80	44.84
Debt +	0	0	0	0.25	0.05	0	0	0	0	0
Long Term Debt	0	0	0	0	0	0	0	0	0	0
Short Term Debt	0	0	0	0.25	0.05	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	0.33	0.07	0	0.03	0.08	0.13	0.11	0.07	0.04	0.44
Others Liabilities ⓘ	3.33	2.16	2.20	2.23	1.50	1.75	3.21	1.47	1.40	2.70
Total Liabilities ⓘ	39.40	37.87	38.97	39.32	36.72	36.78	43.53	43.30	45.92	48.66
Fixed Assets
Net Fixed Assets ⓘ +	7.14	2.68	2.68	3.77	11.12	4.21	4.86	5.63	5.33	6.45
Gross Block	10.99	2.91	3.19	4.52	12.53	5.52	6.32	7.37	7.47	9.01
Accumulated Depreciation	3.84	0.24	0.51	0.75	1.40	1.31	1.45	1.74	2.15	2.56
CWIP ⓘ	0	0.19	0.02	0	0.27	0.24	0.10	0.03	0.47	0.22
Investments ⓘ	25.31	26.56	27.14	26.52	16.05	13.04	13.68	19.59	23.06	26.45
Inventories	0	0	0.01	0.03	0.26	0	0	0	0	0
Trade Receivables	0.42	0.35	0.34	0.36	0.26	0.64	0.25	0.11	0	0.61
Cash Equivalents	0.44	0.33	0.33	0.34	0.12	0.17	0.31	0.45	1.99	0.28
Others Assets ⓘ	6.09	7.76	8.45	8.31	8.64	18.49	24.32	17.49	15.07	14.64
Total Assets ⓘ	39.40	37.87	38.97	39.32	36.72	36.78	43.53	43.30	45.92	48.66

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 ⓘ +	0.58	-1.65	-0.60	0.65	0.16	1.35	3.21	-2.96	3.08	0.69
PBT ⓘ	1.66	5.04	1.30	0.19	1.24	0.56	1.85	1.31	3.02	2.78
Adjustment ⓘ	0.28	-4.75	-0.89	0.23	-0.52	0.43	-0.81	-0.57	-1.84	-1.84
Changes in Working Capital ⓘ	-1.15	-1.94	-0.73	0.08	-0.58	0.38	2.63	-3.33	2.31	0.47
Tax Paid ⓘ	-0.21	-0	-0.28	0.15	0.02	-0.02	-0.46	-0.37	-0.41	-0.72
Cash Flow From Investing Activity ⓘ +	-0.75	1.55	0.53	-0.89	-0.25	-1.25	-3.11	3.07	-1.55	-2.40
Capex	-0.04	-0.90	-0.11	-1.31	-0.60	-0.85	-0.83	-1.07	-0.55	-1.39
Net Investments	-0.72	2.42	0.62	0.41	0.34	-0.41	5.21	-5.10	-1.44	-1.68
Others ⓘ	0.01	0.02	0.01	0.01	0.01	0.02	-7.48	9.24	0.45	0.67
Cash Flow From Financing Activity ⓘ +	-0	0	0	0.25	-0.20	-0.05	0	0	0	0
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-0	0	0	0	0	0	0	0	0	0
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	0	0	0	0.25	-0.20	-0.05	0	0	0	0
Net Cash Flow ⓘ	-0.18	-0.10	-0.07	0.01	-0.29	0.05	0.10	0.11	1.54	-1.71

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 (%)	-24.1	11.31	3.01	0.33	2.51	0.03	3.39	2.67	5.98	2.86
ROCE (%)	4.09	14.11	3.6	0.52	3.43	1.61	4.92	3.18	7	6.18
Asset Turnover Ratio	0.18	0.21	0.11	0.07	0.09	0.09	0.1	0.09	0.12	0.12
PAT to CFO Conversion(x)	N/A	-0.41	-0.55	5.42	0.18	135	2.53	-2.69	1.19	0.53
Working Capital Days
Receivable Days	22	17	30	45	32	51	39	17	0	38
Inventory Days	0	0	1	3	15	0	0	0	0	0
Payable Days	48	47	0	10	27	37	74	80	47	104

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Hardcastle & Waud Manufacturing Company Ltd FAQs

The current trading price of Hardcastle&Waud Mfg on 17-Apr-2026 16:59 is ₹704.9.

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 Hardcastle&Waud Mfg stood at ₹47.90 Cr

The latest P/E ratio of Hardcastle&Waud Mfg as of 16-Apr-2026 is 16.12.

The latest P/B ratio of Hardcastle&Waud Mfg as of 16-Apr-2026 is 0.98.

The 52-week high of Hardcastle&Waud Mfg is ₹899.0 and the 52-week low is ₹602.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hardcastle&Waud Mfg is ₹9.03 ( Cr.) .

About Hardcastle & Waud Manufacturing Company Ltd

Hardcastle & Waud Manufacturing Company Ltd.( Hawco) is a public limited company incorporated on October 15,1945 under the Indian Companies Act, 1913. Its registered office is at Netivli Baug, Kalyan Thane District, Maharashtra. Hawco is a multi-product company engaged in manufacturing and/or marketing of insulating varnishes, synthetic resins, pre-colour coated steel coils and profiles, sealants and maintenance products and metal processing chemicals. It has a factory at Kalyan and regional offices in all four metro cities. The shares of the company are listed at the Stock Exchange, Mumbai.

Decades earlier, in mid- twenties of the twentieth century, an honest business firm busied itself importing paints, industrial oils, heat treatment chemicals and metal processing chemicals from reputed companies in UK, USA, Germany and Austria.

Specialty products were manufactured for metal working industries, synthetic resins for printing and like industries, insulating varnishes for the electrical industry, compressed asbestos jointingâ€™s for engineering and other industries as also industrial laminator and protective paints.

The company grew from strength to strength, always maintaining its commitment to consistent expansion, diversification and growth.

HAWCOâ€™s products aid in the revolutionising of Indiaâ€™s Industrial, Construction, Automobiles, Electronics and Hardware sectors. This is an on-going task, which will continue with earnest into this millennium. Research facilities at Kalyan and Sarigam will work overtime, readying HAWCO to fully utilise the attractive opportunities presented by the open market scenario. HAWCO is busying itself today working towards shaping a far more successful tomorrow.

Product range of the company includes:

Sealants & Maintenance Division

Holdtite
Rustolene
WD 40

Synthetic Resins Division

Phenolic
Alkyds
Amino/Amides

Metal Processing Division

Fluid Power
Heat Treatment Products
Cutting Coolants
Cleaners
Metal Forming Drawing
Rust Preventives
Rolling Oils
Petrofer Brands (now available in India)

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● Conflict-Free ● SEBI Registered ● 15Y+ Track Record

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
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
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.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Hardcastle & Waud Manufacturing Company Ltd (509597) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Hardcastle&Waud Mfg Share Price