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Last Updated: April 2, 2026, 4:47 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 505893 | NSE: HINDHARD

Hindustan Hardy Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹542.37Overvalued by 25.09%vs CMP ₹724.00

P/E (11.9) × ROE (25.0%) × BV (₹227.00) × DY (0.39%)

₹574.34Overvalued by 20.67%vs CMP ₹724.00
MoS: -26.1% (Negative)Confidence: 61/100 (Moderate)Models: 2 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹650.6020%Over (-10.1%)
Graham NumberEarnings₹558.1715%Over (-22.9%)
Earnings PowerEarnings₹239.4912%Over (-66.9%)
DCFCash Flow₹1,417.7010%Under (+95.8%)
Net Asset ValueAssets₹232.487%Over (-67.9%)
EV/EBITDAEnterprise₹538.028%Over (-25.7%)
Dividend DiscountDividends₹110.008%Over (-84.8%)
Earnings YieldEarnings₹610.007%Over (-15.7%)
ROCE CapitalReturns₹831.808%Under (+14.9%)
Revenue MultipleRevenue₹269.015%Over (-62.8%)
Consensus (10 models)₹574.34100%Overvalued
Key Drivers: Wide model spread (₹110–₹1,418) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 20.0%

*Investments are subject to market risks

Investment Snapshot

72
Hindustan Hardy Ltd scores 72/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health83/100 · Strong
ROCE 28.4% ExcellentROE 25.0% ExcellentD/E 0.31 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 66.2% Stable
Earnings Quality65/100 · Strong
OPM expanding (9% → 12%) Improving
Quarterly Momentum90/100 · Strong
Revenue (4Q): +40% YoY AcceleratingProfit (4Q): +75% YoY Strong
Industry Rank50/100 · Moderate
P/E 11.9 vs industry 11.9 In-lineROCE 28.4% vs industry 28.4% Average3Y sales CAGR: 9% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:47 am

Market Cap 109 Cr.
Current Price 724
Intrinsic Value₹574.34
High / Low 1,350/630
Stock P/E11.9
Book Value 227
Dividend Yield0.39 %
ROCE28.4 %
ROE25.0 %
Face Value 10.0
PEG Ratio0.60

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Hindustan Hardy Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hindustan Hardy Ltd 109 Cr. 724 1,350/63011.9 2270.39 %28.4 %25.0 % 10.0
Industry Average109.00 Cr724.0011.90227.000.39%28.40%25.00%10.00

All Competitor Stocks of Hindustan Hardy Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 17.1417.5016.4016.5416.8518.0516.5319.9219.9025.1026.7525.3327.10
Expenses 14.9815.1714.0415.1315.1516.0115.2117.0818.0821.3422.5622.6824.60
Operating Profit 2.162.332.361.411.702.041.322.841.823.764.192.652.50
OPM % 12.60%13.31%14.39%8.52%10.09%11.30%7.99%14.26%9.15%14.98%15.66%10.46%9.23%
Other Income 0.320.130.110.000.150.040.040.180.070.230.310.380.14
Interest 0.110.100.070.050.040.080.040.050.000.090.090.070.11
Depreciation 0.230.230.230.240.260.250.250.270.290.310.350.350.40
Profit before tax 2.142.132.171.121.551.751.072.701.603.594.062.612.13
Tax % 27.10%26.29%25.81%26.79%25.81%27.43%25.23%28.15%23.75%26.46%26.35%25.29%26.29%
Net Profit 1.561.561.610.831.161.270.791.941.222.642.981.941.58
EPS in Rs 10.4110.4110.745.547.748.485.2712.958.1417.6219.8912.9510.54

Last Updated: March 3, 2026, 9:12 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 7:15 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 485255373847394563636881104
Expenses 46515336374438395757607291
Operating Profit 212113156681013
OPM % 5%2%4%2%3%6%2%12%9%9%11%12%13%
Other Income 1010100001001
Interest 1111000000000
Depreciation 1211111111111
Profit before tax 2-21-11204557912
Tax % 46%-26%16%-6%1%77%77%28%27%27%26%26%
Net Profit 1-21-1100344579
EPS in Rs 5.61-10.483.74-5.216.072.600.2021.2224.5625.6332.5043.9861.00
Dividend Payout % 54%0%13%0%0%46%0%9%8%9%8%6%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-300.00%150.00%-200.00%200.00%-100.00%33.33%0.00%25.00%40.00%
Change in YoY Net Profit Growth (%)0.00%450.00%-350.00%400.00%-300.00%133.33%-33.33%25.00%15.00%

Hindustan Hardy Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 9 years from 2014-2015 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: March 3, 2026, 1:09 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2222222222222
Reserves 8676777101317222833
Borrowings 7765454464487
Other Liabilities 13121410121211151214151918
Total Liabilities 30272923242623303336435660
Fixed Assets 866444557771111
CWIP 0101000100436
Investments 0000000000000
Other Assets 22202319202118252629324242
Total Assets 30272923242623303336435660

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 123120421562
Cash from Investing Activity + -0-1-11-0-1-2-1-2-1-4-5
Cash from Financing Activity + -0-2-1-2-21-2-02-3-03
Net Cash Flow 0-0-00-0-001112-0
Free Cash Flow 11222-131-142-4
CFO/OP 62%268%125%187%196%38%482%50%38%104%109%47%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-5.00-6.00-4.00-4.00-3.00-2.00-3.001.000.002.004.002.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 77.4673.9274.9389.37116.53104.3894.40139.62111.38113.12109.16118.75
Inventory Days 69.7556.2654.7365.7276.2076.9196.2786.8251.6065.1268.6979.73
Days Payable 120.62117.05133.17133.49154.83123.82138.47167.95102.77113.02110.41130.15
Cash Conversion Cycle 26.5913.12-3.5121.6037.9057.4652.2058.4960.2165.2267.4468.33
Working Capital Days -13.55-15.76-15.42-18.435.9712.3814.0141.9846.5059.4853.6759.98
ROCE %15.92%-7.84%11.53%0.30%11.30%16.02%3.58%33.80%29.07%25.53%27.57%28.37%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 66.16%66.16%66.16%66.16%66.16%66.16%66.16%66.16%66.16%66.16%66.16%66.16%
Public 33.85%33.85%33.84%33.84%33.84%33.84%33.85%33.85%33.84%33.84%33.85%33.84%
No. of Shareholders 3,1683,1673,2503,3643,6113,7563,9484,1264,1764,3044,5144,433

Shareholding Pattern Chart

No. of Shareholders

Hindustan Hardy Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 43.9832.5025.6124.5721.25
Diluted EPS (Rs.) 43.9832.5025.6124.5721.25
Cash EPS (Rs.) 51.4839.0131.6329.2725.26
Book Value[Excl.RevalReserv]/Share (Rs.) 197.00155.45123.7099.8376.81
Book Value[Incl.RevalReserv]/Share (Rs.) 197.00155.45123.7099.8376.81
Dividend / Share (Rs.) 2.802.502.202.002.00
Revenue From Operations / Share (Rs.) 543.56452.71421.03417.63297.72
PBDIT / Share (Rs.) 68.4052.1743.8440.3334.67
PBIT / Share (Rs.) 60.9045.6537.8135.6330.66
PBT / Share (Rs.) 59.7144.0335.0533.5229.42
Net Profit / Share (Rs.) 43.9832.4925.6124.5721.25
PBDIT Margin (%) 12.5811.5210.419.6511.64
PBIT Margin (%) 11.2010.088.988.5310.29
PBT Margin (%) 10.989.728.328.029.88
Net Profit Margin (%) 8.097.176.085.887.13
Return on Networth / Equity (%) 22.3220.9020.6924.6127.67
Return on Capital Employeed (%) 27.9026.7027.5030.6435.78
Return On Assets (%) 11.6011.3210.5510.9310.45
Long Term Debt / Equity (X) 0.090.080.090.140.08
Total Debt / Equity (X) 0.250.170.200.430.31
Asset Turnover Ratio (%) 1.631.711.801.951.66
Current Ratio (X) 1.711.811.801.591.33
Quick Ratio (X) 1.311.431.421.291.04
Inventory Turnover Ratio (X) 9.885.686.396.644.18
Dividend Payout Ratio (NP) (%) 5.686.777.818.130.00
Dividend Payout Ratio (CP) (%) 4.855.636.326.830.00
Earning Retention Ratio (%) 94.3293.2392.1991.870.00
Cash Earning Retention Ratio (%) 95.1594.3793.6893.170.00
Interest Coverage Ratio (X) 57.3932.2715.8719.1227.90
Interest Coverage Ratio (Post Tax) (X) 37.9021.1010.2712.6518.10
Enterprise Value (Cr.) 105.2660.8637.1840.7124.98
EV / Net Operating Revenue (X) 1.290.890.580.650.55
EV / EBITDA (X) 10.277.795.666.744.81
MarketCap / Net Operating Revenue (X) 1.240.890.560.570.49
Retention Ratios (%) 94.3193.2292.1891.860.00
Price / BV (X) 3.432.621.922.391.92
Price / Net Operating Revenue (X) 1.240.890.560.570.49
EarningsYield 0.060.070.100.100.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hindustan Hardy Ltd. is a Public Limited Listed company incorporated on 16/10/1982 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L29300MH1982PLC028498 and registration number is 028498. Currently Company is involved in the business activities of Manufacture of diverse parts and accessories for motor vehecles sucs as brakes, gearboxes, axles, road wheels, suspension shock absorbers, radiators, silencers, exhaust pipes, catalysers, clutches, steering wheels, steering columns and steering boxes etc.. Company's Total Operating Revenue is Rs. 81.45 Cr. and Equity Capital is Rs. 1.50 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Dr. Trans & Steer - OthersC-12, Additional Nasik Industrial Area, Ambad, Nasik Maharashtra 422010Contact not found
Management
NamePosition Held
Ms. Devaki SaranChairperson & Managing Director
Mr. Vijay PathakCOO & Executive Director
Mr. Navroze Shiamak MarshallIndependent Director
Mr. Sanjiv BhasinIndependent Director
Ms. Mallika SaranExecutive Director & CFO
Mr. Cowasji Jehangir JehangirIndependent Director
Mrs. Arati SaranWoman Director

FAQ

What is the intrinsic value of Hindustan Hardy Ltd and is it undervalued?

As of 18 April 2026, Hindustan Hardy Ltd's intrinsic value is ₹574.34, which is 20.67% lower than the current market price of ₹724.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (25.0 %), book value (₹227), dividend yield (0.39 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hindustan Hardy Ltd?

Hindustan Hardy Ltd is trading at ₹724.00 as of 18 April 2026, with a FY2026-2027 high of ₹1,350 and low of ₹630. The stock is currently near its 52-week low. Market cap stands at ₹109 Cr..

How does Hindustan Hardy Ltd's P/E ratio compare to its industry?

Hindustan Hardy Ltd has a P/E ratio of 11.9, which is below the industry average of 11.90. This is broadly in line with or below the industry average.

Is Hindustan Hardy Ltd financially healthy?

Key indicators for Hindustan Hardy Ltd: ROCE of 28.4 % indicates efficient capital utilization; ROE of 25.0 % shows strong shareholder returns. Dividend yield is 0.39 %.

Is Hindustan Hardy Ltd profitable and how is the profit trend?

Hindustan Hardy Ltd reported a net profit of ₹7 Cr in Mar 2025 on revenue of ₹81 Cr. Compared to ₹4 Cr in Mar 2022, the net profit shows an improving trend.

Does Hindustan Hardy Ltd pay dividends?

Hindustan Hardy Ltd has a dividend yield of 0.39 % at the current price of ₹724.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hindustan Hardy Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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