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Nifty
Sensex

:
:

23996.25
76755.05

-191.45 (-0.79%)
-715.06 (-0.92%)

Hind Rectifiers Ltd.

Electric Equipment

Rating :

77/99

BSE: 504036 | NSE: HIRECT

Watchlist

NSE BSE

1278.40

22-Jul-2026

Open
High
Low
Previous Close

1350
1350
1270
1308.60

Volume
Traded Value (lacs)
52 Week High
52 Week Low

129059
168530765.6
1399
565.2

Stock Summary

Market Cap(Crs)
Stock P:E
Face Value

4,532.14
100.05
2

Enterprise Value(Crs)
Dividend Yield
Price:Book Value

4,763.87
0.11%
22.39

Chart

Price | P:E | P:BV | EV:EBITDA | MCap:Sales | EPS

Revenue CAGR (%)

10 Years
5 Years
3 Years

23.88
20.60
24.52

EBITDA CAGR (%)

10 Years
5 Years
3 Years

35.46
34.09
13.94

PAT CAGR (%)

10 Years
5 Years
3 Years

-
49.20
53.23

P:E (Median)

8 Years
5 Years
3 Years

60.05
60.05
60.05

P:BV (Average)

8 Years
5 Years
3 Years

12.42
12.42
12.42

EV:EBITDA (Average)

8 Years
5 Years
3 Years

30.23
30.23
30.23

Earnings Forecasts:

(Updated: 18-07-2026)

Description 2026 2027 2028 2029
Adj EPS 81 -3 197.26 3.65
P/E Ratio 15.78 -426.13 6.48 350.25
Revenue 105.19 - - 517.6
EBITDA 655.4 - - 44.3
Net Income 70.3 - - 12.5
ROA 37.1 - - -
P/B Ratio - - - -
ROE - - - 10.6
FCFF 26.1 - - -16.6
FCFF Yield -14.3 - - -0.4
Net Debt -0.34 - - -
BVPS - - - -

Quarterly Results

Consolidated Figures in Rs. Crores /

Standalone

Description Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var%
Net Sales 264.02 185.05 42.67% 243.27 168.94 44.00% 227.15 165.84 36.97% 214.77 135.53 58.47%
Expenses 237.17 164.99 43.75% 217.80 151.32 43.93% 201.24 147.54 36.40% 190.50 121.05 57.37%
EBITDA 26.85 20.06 33.85% 25.47 17.62 44.55% 25.91 18.31 41.51% 24.27 14.48 67.61%
EBIDTM 10.17% 10.84% 10.47% 10.43% 11.41% 11.04% 11.30% 10.68%
Other Income 0.40 0.34 17.65% 0.21 0.50 -58.00% 0.13 0.13 0.00% 0.23 0.51 -54.90%
Interest 4.01 4.02 -0.25% 4.65 2.52 84.52% 3.56 3.40 4.71% 3.62 3.26 11.04%
Depreciation 3.70 2.21 67.42% 3.40 2.15 58.14% 2.81 2.11 33.18% 2.73 2.01 35.82%
PBT 18.82 14.16 32.91% 16.35 13.46 21.47% 19.67 12.93 52.13% 18.15 9.72 86.73%
Tax 2.44 4.01 -39.15% 2.62 3.45 -24.06% 4.92 2.75 78.91% 5.34 2.79 91.40%
PAT 16.38 10.15 61.38% 13.73 10.01 37.16% 14.75 10.18 44.89% 12.81 6.93 84.85%
PATM 6.20% 5.48% 5.64% 5.92% 6.49% 6.14% 5.97% 5.11%
EPS 4.76 2.95 61.36% 3.99 2.91 37.11% 4.29 2.96 44.93% 3.72 2.01 85.07%

Description Mar 26 Mar 25 Var% Dec 25 Dec 24 Var% Sep 25 Sep 24 Var% Jun 25 Jun 24 Var%
Net Sales 279.81 185.05 51.21% 277.39 168.94 64.19% 227.15 165.84 36.97% 214.77 135.53 58.47%
Expenses 271.39 165.15 64.33% 251.85 151.32 66.44% 201.26 147.54 36.41% 190.55 121.05 57.41%
EBITDA 8.42 19.90 -57.69% 25.54 17.62 44.95% 25.89 18.31 41.40% 24.23 14.48 67.33%
EBIDTM 3.01% 10.75% 9.21% 10.43% 11.40% 11.04% 11.28% 10.68%
Other Income 1.08 0.34 217.65% 0.21 0.50 -58.00% 0.13 0.13 0.00% 0.23 0.51 -54.90%
Interest 4.09 4.02 1.74% 4.71 2.52 86.90% 3.56 3.40 4.71% 3.62 3.26 11.04%
Depreciation 3.85 2.21 74.21% 4.45 2.15 106.98% 2.81 2.11 33.18% 2.73 2.01 35.82%
PBT 0.85 14.01 -93.93% 15.32 13.46 13.82% 19.64 12.93 51.89% 18.10 9.72 86.21%
Tax 2.44 4.01 -39.15% 2.62 3.45 -24.06% 4.92 2.75 78.91% 5.34 2.79 91.40%
PAT -1.59 9.99 - 12.70 10.01 26.87% 14.72 10.18 44.60% 12.77 6.93 84.27%
PATM -0.57% 5.40% 4.58% 5.92% 6.48% 6.14% 5.94% 5.11%
EPS 1.31 2.91 -54.98% 3.79 2.91 30.24% 4.28 2.97 44.11% 3.72 2.02 84.16%

Annual Results

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description TTM Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Net Sales - 949.21 655.37 517.55 359.10 372.10 305.10 299.62 255.14 125.69 111.48 Net Sales Growth - 44.84% 26.63% 44.12% -3.49% 21.96% 1.83% 17.43% 102.99% 12.75% Cost Of Goods Sold - 717.34 478.29 384.33 279.57 288.33 235.66 209.34 185.91 87.96 78.83 Gross Profit - 231.88 177.08 133.23 79.53 83.77 69.44 90.28 69.23 37.73 32.66 GP Margin - 24.43% 27.02% 25.74% 22.15% 22.51% 22.76% 30.13% 27.13% 30.02% 29.30% Total Expenditure - 851.02 584.40 475.81 343.64 349.45 285.08 261.64 236.08 115.85 106.76 Power & Fuel Cost - 5.88 4.86 4.17 2.58 2.26 1.88 1.92 1.83 1.56 1.52 % Of Sales - 0.62% 0.74% 0.81% 0.72% 0.61% 0.62% 0.64% 0.72% 1.24% 1.36% Employee Cost - 78.89 63.26 52.35 39.07 36.64 32.74 29.80 22.31 18.28 18.73 % Of Sales - 8.31% 9.65% 10.11% 10.88% 9.85% 10.73% 9.95% 8.74% 14.54% 16.80% Manufacturing Exp. - 8.68 6.39 6.55 5.39 4.08 3.02 3.04 2.90 1.91 1.38 % Of Sales - 0.91% 0.98% 1.27% 1.50% 1.10% 0.99% 1.01% 1.14% 1.52% 1.24% General & Admin Exp. - 15.49 10.49 10.81 8.14 8.46 5.22 6.82 6.45 5.08 4.94 % Of Sales - 1.63% 1.60% 2.09% 2.27% 2.27% 1.71% 2.28% 2.53% 4.04% 4.43% Selling & Distn. Exp. - 8.38 7.26 7.40 3.96 2.27 2.10 3.94 3.62 0.22 0.35 % Of Sales - 0.88% 1.11% 1.43% 1.10% 0.61% 0.69% 1.31% 1.42% 0.18% 0.31% Miscellaneous Exp. - 16.36 13.86 10.20 4.94 7.40 4.47 6.78 13.06 0.83 0.35 % Of Sales - 1.72% 2.11% 1.97% 1.38% 1.99% 1.47% 2.26% 5.12% 0.66% 0.91% EBITDA - 98.19 70.97 41.74 15.46 22.65 20.02 37.98 19.06 9.84 4.72 EBITDA Margin - 10.34% 10.83% 8.06% 4.31% 6.09% 6.56% 12.68% 7.47% 7.83% 4.23% Other Income - 5.81 1.48 3.78 0.26 0.34 0.36 0.48 7.69 0.44 0.68 Interest - 16.39 13.69 13.40 8.50 7.34 9.18 8.15 7.83 5.95 5.16 Depreciation - 12.63 8.49 7.45 5.14 4.49 3.83 4.07 2.72 2.31 2.00 PBT - 74.98 50.27 24.68 2.08 11.16 7.36 26.24 16.20 2.02 -1.76 Tax - 15.31 13.00 5.18 -2.32 3.36 2.03 7.76 4.86 0.70 -2.58 Tax Rate - 20.98% 25.86% 29.28% 26.70% 30.11% 27.58% 29.57% 29.19% 34.65% 27.02% PAT - 57.67 37.27 12.51 -6.36 7.80 5.33 18.48 11.79 1.31 -6.97 PAT before Minority Interest - 57.67 37.27 12.51 -6.36 7.80 5.33 18.48 11.79 1.31 -6.97 Minority Interest - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 PAT Margin - 6.08% 5.69% 2.42% -1.77% 2.10% 1.75% 6.17% 4.62% 1.04% -6.25% PAT Growth - 54.74% 197.92% - - 46.34% -71.16% 56.74% 800.00% - EPS - 16.76 10.83 3.64 -1.85 2.27 1.55 5.37 3.43 0.38 -2.03

Description TTM Mar 26 Mar 25 Mar 24
Net Sales - 999.13 655.37 517.55 Net Sales Growth - 52.45% 26.63% Cost Of Goods Sold - 736.01 478.29 384.33 Gross Profit - 263.12 177.08 133.23 GP Margin - 26.33% 27.02% 25.74% Total Expenditure - 918.96 584.55 475.81 Power & Fuel Cost - 8.46 4.86 4.17 % Of Sales - 0.85% 0.74% 0.81% Employee Cost - 112.05 63.26 52.35 % Of Sales - 11.21% 9.65% 10.11% Manufacturing Exp. - 13.08 6.39 6.55 % Of Sales - 1.31% 0.98% 1.27% General & Admin Exp. - 22.06 10.64 10.81 % Of Sales - 2.21% 1.62% 2.09% Selling & Distn. Exp. - 8.64 7.26 7.40 % Of Sales - 0.86% 1.11% 1.43% Miscellaneous Exp. - 18.67 13.86 10.20 % Of Sales - 1.87% 2.11% 1.97% EBITDA - 80.17 70.82 41.74 EBITDA Margin - 8.02% 10.81% 8.06% Other Income - 6.50 1.48 3.78 Interest - 16.92 13.69 13.40 Depreciation - 13.83 8.49 7.45 PBT - 55.91 50.11 24.68 Tax - 15.31 13.00 5.18 Tax Rate - 28.40% 25.94% 29.28% PAT - 45.01 37.11 12.51 PAT before Minority Interest - 38.60 37.11 12.51 Minority Interest - 6.41 0.00 0.00 PAT Margin - 4.50% 5.66% 2.42% PAT Growth - 21.29% 196.64% EPS - 13.08 10.79 3.64

Results Balance Sheet

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Shareholder's Funds 221.26 160.03 124.53 111.71 107.44 99.77 95.64 78.14 66.29 53.21 Share Capital 6.87 3.43 3.43 3.42 3.31 3.31 3.31 3.31 3.31 3.01 Total Reserves 206.89 156.26 120.54 107.53 103.69 96.46 92.33 74.82 62.98 50.20 Non-Current Liabilities 45.49 38.99 31.47 25.03 24.04 12.88 14.77 12.13 1.31 -2.92 Secured Loans 32.50 28.40 23.35 24.33 20.88 11.25 15.09 16.74 10.03 5.52 Unsecured Loans 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.98 Long Term Provisions 6.38 5.25 5.18 5.21 5.27 5.32 4.19 2.04 1.68 1.66 Current Liabilities 345.86 218.56 172.92 150.83 112.25 124.47 127.43 87.41 74.51 51.62 Trade Payables 111.75 59.92 47.28 53.12 47.62 41.89 39.47 32.87 27.80 12.31 Other Current Liabilities 51.68 31.88 25.29 24.48 16.29 14.83 15.43 9.75 8.15 5.35 Short Term Borrowings 175.94 120.32 95.82 70.54 45.90 65.80 69.38 41.91 38.10 33.29 Short Term Provisions 6.50 6.44 4.52 2.69 2.44 1.96 3.15 2.88 0.46 0.67 Total Liabilities 612.61 417.58 328.92 287.57 243.73 237.12 237.84 177.68 142.11 101.91 Net Block 166.75 107.07 89.62 79.52 48.07 40.61 33.04 26.20 27.32 19.88 Gross Block 221.49 150.31 130.37 115.49 79.94 68.33 57.06 46.72 45.74 36.23 Accumulated Depreciation 54.74 43.24 40.75 35.97 31.87 27.72 24.02 20.52 18.42 16.35 Non Current Assets 204.13 150.58 119.97 102.01 79.29 62.46 60.84 46.83 37.34 29.45 Capital Work in Progress 9.18 12.13 22.44 20.72 27.95 19.85 17.98 13.84 4.24 4.72 Non Current Investment 18.30 0.42 0.13 0.13 0.13 0.10 6.10 0.10 0.10 0.05 Long Term Loans & Adv. 9.91 21.05 1.77 1.64 3.14 1.87 3.73 6.55 5.55 4.48 Other Non Current Assets 0.00 9.90 6.00 0.00 0.00 0.02 0.00 0.13 0.13 0.32 Current Assets 405.25 263.75 208.95 184.98 163.86 174.67 176.99 130.84 104.77 72.46 Current Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Inventories 135.28 120.73 96.72 92.44 77.02 68.54 69.27 54.15 34.41 27.13 Sundry Debtors 227.10 109.55 89.16 67.56 67.78 87.74 81.04 63.26 55.39 35.62 Cash & Bank 1.39 1.14 1.55 1.39 1.34 1.62 3.03 1.70 2.26 1.49 Other Current Assets 41.48 1.40 1.04 2.13 17.72 16.76 23.65 11.73 12.71 8.22 Short Term Loans & Adv. 38.41 30.93 20.48 21.46 16.95 16.11 19.29 7.88 6.38 6.27 Net Current Assets 59.39 45.19 36.03 34.16 51.62 50.19 49.57 43.43 30.26 20.84 Total Assets 609.38 414.33 328.92 286.99 243.15 237.13 237.83 177.67 142.11 101.91

Description Mar 26 Mar 25 Mar 24
Shareholder's Funds 208.57 159.87 124.53 Share Capital 6.87 3.43 3.43 Total Reserves 194.20 156.10 120.54 Non-Current Liabilities 59.92 38.99 31.47 Secured Loans 32.50 28.40 23.35 Unsecured Loans 0.00 0.00 0.00 Long Term Provisions 16.61 5.25 5.18 Current Liabilities 396.34 218.43 172.92 Trade Payables 118.89 59.92 47.28 Other Current Liabilities 67.85 31.75 25.29 Short Term Borrowings 190.37 120.33 95.82 Short Term Provisions 19.23 6.44 4.52 Total Liabilities 662.06 417.29 328.92 Net Block 196.07 107.07 89.62 Gross Block 252.02 150.31 130.37 Accumulated Depreciation 55.95 43.24 40.75 Non Current Assets 216.63 150.29 119.97 Capital Work in Progress 10.42 12.13 22.44 Non Current Investment 0.13 0.13 0.13 Long Term Loans & Adv. 10.02 21.05 1.77 Other Non Current Assets 0.00 9.90 6.00 Current Assets 442.20 263.75 208.95 Current Investments 0.00 0.00 0.00 Inventories 149.11 120.73 96.72 Sundry Debtors 246.42 109.55 89.16 Cash & Bank 4.98 1.13 1.55 Other Current Assets 41.68 1.40 1.04 Short Term Loans & Adv. 33.84 30.93 20.48 Net Current Assets 45.86 45.31 36.03 Total Assets 658.83 414.04 328.92

Cash Flow

Standalone Figures in Rs. Crores /

Consolidated

Right to Left

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Cash From Operating Activity 90.68 35.63 33.90 33.03 36.27 21.71 4.44 6.47 -3.63 -3.26 PBT 72.98 50.27 17.69 -8.68 11.16 7.36 26.24 16.65 2.02 -9.78 Adjustment 42.05 35.52 30.59 30.07 11.24 12.35 11.13 9.50 7.47 7.05 Changes in Working Capital -11.15 -42.17 -14.17 12.31 16.21 3.87 -28.88 -18.03 -13.17 -1.24 Cash after chg. in Working capital 103.88 43.63 34.11 33.69 38.61 23.58 8.48 8.12 -3.68 -3.96 Interest Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Tax Paid -13.20 -8.00 -0.21 -0.66 -2.35 -1.87 -4.05 -1.65 0.05 0.71 Other Direct Exp. Paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Cash From Investing Activity -84.76 -25.31 -19.47 -29.30 -19.94 -8.38 -21.62 -10.42 -10.31 -3.81 Net Fixed Assets -68.23 -9.63 -16.60 -28.32 -19.71 -13.14 -14.48 -10.58 -9.03 -3.88 Net Investments -17.88 -0.29 0.00 0.00 -0.03 6.00 -6.00 0.00 -0.05 0.00 Others 1.35 -15.39 -2.87 -0.98 -0.20 -1.24 -1.14 0.16 -1.23 0.07 Cash from Financing Activity -5.66 -10.74 -14.26 -3.68 -16.61 -14.73 18.51 3.39 14.71 3.66 Net Cash Inflow / Outflow 0.26 -0.42 0.16 0.05 -0.28 -1.41 1.33 -0.56 0.77 -3.41 Opening Cash & Equivalents 1.13 1.55 1.39 1.34 1.62 3.03 1.70 2.26 1.49 4.90 Closing Cash & Equivalent 1.39 1.13 1.55 1.39 1.34 1.62 3.03 1.70 2.26 1.49

Description Mar 26 Mar 25 Mar 24
Cash From Operating Activity 85.81 35.63 33.90 PBT 53.91 50.11 17.69 Adjustment 43.31 35.68 30.59 Changes in Working Capital 1.79 -42.17 -14.17 Cash after chg. in Working capital 99.01 43.63 34.11 Interest Paid 0.00 0.00 0.00 Tax Paid -13.20 -8.00 -0.21 Other Direct Exp. Paid 0.00 0.00 0.00 Extra & Other Items 0.00 0.00 0.00 Cash From Investing Activity -90.27 -25.31 -19.47 Net Fixed Assets -68.23 -9.63 Net Investments -17.88 -0.29 Others -4.16 -15.39 Cash from Financing Activity 8.11 -10.74 -14.26 Net Cash Inflow / Outflow 3.65 -0.42 0.16 Opening Cash & Equivalents 1.13 1.55 1.39 Closing Cash & Equivalent 4.98 1.13 1.55

Financial Ratios

Standalone /

Consolidated

Right to Left

Description Mar 26 Mar 25 Mar 24 Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 Mar 18 Mar 17
Book Value (Rs.) 62.20 46.52 72.34 64.79 64.60 60.24 57.74 47.17 40.02 34.24 ROA 11.20% 9.99% 4.06% -2.40% 3.24% 2.24% 8.89% 7.37% 1.08% -6.32% ROE 30.88% 26.28% 10.65% -5.84% 7.54% 5.46% 21.27% 16.33% 2.20% -12.11% ROCE 23.44% 22.35% 13.23% -0.09% 10.12% 8.97% 21.02% 18.91% 7.54% -4.67% Fixed Asset Turnover 5.11 4.67 4.21 3.67 5.02 4.87 5.77 5.52 3.10 3.38 Receivable days 64.73 55.33 55.26 68.78 76.28 100.96 87.89 84.86 130.72 121.56 Inventory Days 49.22 60.55 66.70 86.12 71.39 82.43 75.17 63.35 88.40 90.42 Payable days 43.68 40.90 47.68 65.76 56.65 63.01 50.71 49.17 64.48 61.41 Cash Conversion Cycle 70.27 74.98 74.29 89.15 91.02 120.39 112.36 99.04 154.64 150.57 Total Debt/Equity 1.04 1.00 1.04 0.94 0.70 0.84 0.94 0.81 0.77 0.77 Interest Cover 5.45 4.67 2.32 -0.02 2.52 1.80 4.22 3.13 1.34 -0.85

Description Mar 26 Mar 25 Mar 24
Book Value (Rs.) 58.50 46.47 72.34 ROA 7.15% 9.95% 3.80% ROE 21.41% 26.18% 10.09% ROCE 18.54% 22.30% 12.26% Fixed Asset Turnover 4.97 4.67 3.97 Receivable days 65.02 55.33 62.88 Inventory Days 49.29 60.55 68.21 Payable days 44.34 40.90 44.91 Cash Conversion Cycle 69.97 74.98 86.18 Total Debt/Equity 1.18 1.00 1.04 Interest Cover 4.19 4.66 2.32

Top Investors:

btr industries ltd

cassini partners l.p. managed by habrok

habrok india master lp

mukul mahavir agrawal

investor education and protection fund

vanaja sundar iyer

veena k jagwani

Annual Reports:

News Update:

Hind Rectifiers incorporates wholly-owned subsidiary in UAE
25th Jun 2026, 16:44 PM

Hirect GHL shall act as an investment holding company to oversee the investments globally
Read More
Hind Rectifiers - Quarterly Results
17th May 2026, 00:00 AM

Read More

Source: www.accordfintech.com | DISCLAIMER: Information is provided " as is" and solely for informational purposes, not for trading purposes or advice, and may be delayed.

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