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Last Updated: April 2, 2026, 3:01 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 517271 | NSE: HBLENGINE

HBL Power Systems Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹265.11Overvalued by 59.83%vs CMP ₹660.00

P/E (22.4) × ROE (20.6%) × BV (₹71.60) × DY (0.30%)

₹265.06Overvalued by 59.84%vs CMP ₹660.00
MoS: -149% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹406.4623%Over (-38.4%)
Graham NumberEarnings₹215.1017%Over (-67.4%)
Earnings PowerEarnings₹71.0911%Over (-89.2%)
DCFCash Flow₹700.2011%Fair (+6.1%)
Net Asset ValueAssets₹71.587%Over (-89.2%)
EV/EBITDAEnterprise₹154.449%Over (-76.6%)
Earnings YieldEarnings₹287.207%Over (-56.5%)
ROCE CapitalReturns₹29.087%Over (-95.6%)
Revenue MultipleRevenue₹70.936%Over (-89.3%)
Consensus (9 models)₹265.06100%Overvalued
Key Drivers: EPS CAGR 53.3% lifts DCF — verify sustainability. | Wide model spread (₹29–₹700) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 53.3%

*Investments are subject to market risks

Investment Snapshot

81
HBL Power Systems Ltd scores 81/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 27.3% ExcellentROE 20.6% ExcellentD/E 0.07 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money70/100 · Strong
FII holding up 1.04% (6mo) AccumulatingPromoter holding at 59.1% Stable
Earnings Quality65/100 · Strong
OPM expanding (11% → 20%) Improving
Quarterly Momentum100/100 · Strong
Revenue (4Q): +22% YoY AcceleratingProfit (4Q): +96% YoY StrongOPM: 44.0% (up 23.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 22.4 vs industry 29.8 In-lineROCE 27.3% vs industry 15.9% Above peersROE 20.6% vs industry 11.4% Above peers3Y sales CAGR: 17% 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, 3:01 am

Market Cap 18,303 Cr.
Current Price 660
Intrinsic Value₹265.06
High / Low 1,122/421
Stock P/E22.4
Book Value 71.6
Dividend Yield0.30 %
ROCE27.3 %
ROE20.6 %
Face Value 1.00
PEG Ratio0.42

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

View Share Price Target for HBL Power Systems Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
HBL Power Systems Ltd 18,303 Cr. 660 1,122/42122.4 71.60.30 %27.3 %20.6 % 1.00
Exide Industries Ltd 25,487 Cr. 300 431/28730.6 1730.67 %8.65 %5.74 % 1.00
Goldstar Power Ltd 175 Cr. 6.10 13.5/4.5065.9 2.830.00 %11.6 %7.77 % 1.00
PAE Ltd 1.90 Cr. 19.0 19.0/6.900.14 49.90.00 %%% 10.0
Industry Average14,655.00 Cr246.2829.7674.330.24%15.85%11.37%3.25

All Competitor Stocks of HBL Power Systems Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 3143324034675575996105205214514766021,223
Expenses 281294358390456486479410412357396410679
Operating Profit 333845781011131311101099479192544
OPM % 11%12%11%17%18%19%22%21%21%21%17%32%44%
Other Income 664332-195122617-8
Interest 1232334235463
Depreciation 891010101111111111111212
Profit before tax 3033366991102981031077971191520
Tax % 35%32%3%25%26%23%33%26%29%26%26%26%26%
Net Profit 2024355268798180876545143387
EPS in Rs 0.720.861.261.872.482.852.942.893.152.331.625.1713.97

Last Updated: January 1, 2026, 12:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 8:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,3041,3491,2991,4141,6031,2661,0929121,2361,3692,2331,9673,174
Expenses 1,2081,2101,1641,2861,4771,1691,0118451,0971,2171,8101,5742,056
Operating Profit 951391341291269781671391514233931,118
OPM % 7%10%10%9%8%8%7%7%11%11%19%20%35%
Other Income 66912211621226262083824
Interest 767168464131221577131316
Depreciation 39535148464441393535414447
Profit before tax 46242754554340191221303773741,079
Tax % 16%43%45%29%42%35%35%29%23%24%26%26%
Net Profit 39141538322826149498280276795
EPS in Rs 1.570.560.591.531.141.000.950.503.393.5610.139.9928.72
Dividend Payout % 13%36%42%18%22%30%32%71%12%13%5%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-64.10%7.14%153.33%-15.79%-12.50%-7.14%-46.15%571.43%4.26%185.71%-1.43%
Change in YoY Net Profit Growth (%)0.00%71.25%146.19%-169.12%3.29%5.36%-39.01%617.58%-567.17%181.46%-187.14%

HBL Power Systems Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:13%
3 Years:17%
TTM:-10%
Compounded Profit Growth
10 Years:26%
5 Years:65%
3 Years:48%
TTM:5%
Stock Price CAGR
10 Years:38%
5 Years:122%
3 Years:109%
1 Year:36%
Return on Equity
10 Years:11%
5 Years:16%
3 Years:20%
Last Year:21%

Last Updated: September 5, 2025, 5:50 am

Balance Sheet

Last Updated: December 4, 2025, 1:21 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 25252528282828282828282828
Reserves 5365395847017247397457548389241,1931,4551,957
Borrowings 734686549479366232161706386677487
Other Liabilities 459311277258224162169184204257366422605
Total Liabilities 1,7551,5621,4351,4671,3421,1611,1031,0361,1331,2941,6541,9802,677
Fixed Assets 495456415417363321304279265320354397416
CWIP 564948332637274381502068129
Investments 1288556789108290319
Other Assets 1,2021,0549641,0089477977667077799151,1711,2251,813
Total Assets 1,7551,5621,4351,4671,3421,1611,1031,0361,1331,2941,6541,9802,677

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -36791584315916714912162122273239
Cash from Investing Activity + 156-13-1060-81-6-32-17-50-139-320
Cash from Financing Activity + -115-66-153-114-150-163-114-104-2210-42-26
Net Cash Flow 5-0-5-111529-14238291-107
Free Cash Flow -4962144514916814086416822889
CFO/OP -32%60%125%41%149%192%201%184%65%105%85%86%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-639.00-547.00-415.00-350.00-240.00-135.00-80.00-3.0076.0065.00356.00319.00

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 12210612012210310510210286835869
Inventory Days 276226185168126145162188149147137201
Days Payable 1348177684334414442434168
Cash Conversion Cycle 265252228222186216222246193188154202
Working Capital Days 515755667310412114912611781106
ROCE %4%8%8%8%9%6%6%4%13%14%36%27%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 59.08%59.10%59.11%59.11%59.11%59.11%59.10%59.10%59.10%59.10%59.11%59.11%
FIIs 0.91%2.63%2.23%2.66%4.59%4.66%4.91%5.22%4.83%4.83%7.10%5.87%
DIIs 0.00%0.14%0.08%0.41%0.66%1.07%0.96%0.39%0.36%0.36%0.64%0.82%
Public 40.00%38.14%38.58%37.82%35.65%35.17%35.03%35.27%35.70%35.70%33.12%34.20%
No. of Shareholders 1,71,7141,79,4442,21,3922,42,3852,87,0323,32,9123,68,6883,58,7983,81,8263,81,8263,26,0663,42,335

Shareholding Pattern Chart

No. of Shareholders

HBL Power Systems Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Samco Active Momentum Fund 52,228 0.62 4.09133,0122026-02-23 07:16:42-60.73%
Samco Special Opportunities Fund 43,830 2.56 3.43N/AN/AN/A
Taurus Flexi Cap Fund 24,000 0.55 1.88N/AN/AN/A
Samco Dynamic Asset Allocation Fund 18,153 0.61 1.422,8052026-02-23 07:16:42547.17%
Taurus ELSS Tax Saver Fund 8,650 0.94 0.6814,5812026-01-25 10:32:08-40.68%
Taurus Infrastructure Fund 1,050 0.94 0.08N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 9.9610.073.513.350.44
Diluted EPS (Rs.) 9.9610.073.513.350.44
Cash EPS (Rs.) 11.0710.964.784.611.85
Book Value[Excl.RevalReserv]/Share (Rs.) 53.4944.0334.3231.2328.21
Book Value[Incl.RevalReserv]/Share (Rs.) 53.4944.0334.3231.2328.21
Revenue From Operations / Share (Rs.) 70.9780.5749.3844.6032.90
PBDIT / Share (Rs.) 15.0815.926.105.532.78
PBIT / Share (Rs.) 13.4914.434.824.271.38
PBT / Share (Rs.) 12.9912.954.634.380.65
Net Profit / Share (Rs.) 9.479.483.503.350.44
NP After MI And SOA / Share (Rs.) 9.9910.133.563.390.49
PBDIT Margin (%) 21.2519.7612.3512.408.44
PBIT Margin (%) 19.0017.919.769.564.18
PBT Margin (%) 18.2916.079.389.831.98
Net Profit Margin (%) 13.3411.767.097.501.35
NP After MI And SOA Margin (%) 14.0712.577.207.591.50
Return on Networth / Equity (%) 18.6723.0110.3610.841.75
Return on Capital Employeed (%) 24.0731.8013.2512.904.67
Return On Assets (%) 13.9816.987.628.291.32
Long Term Debt / Equity (X) 0.000.010.040.030.01
Total Debt / Equity (X) 0.030.040.080.050.07
Asset Turnover Ratio (%) 1.081.511.131.130.84
Current Ratio (X) 2.862.773.053.463.00
Quick Ratio (X) 1.611.681.882.041.68
Inventory Turnover Ratio (X) 4.073.142.582.551.87
Dividend Payout Ratio (NP) (%) 5.004.4411.2310.3320.19
Dividend Payout Ratio (CP) (%) 4.313.878.267.525.27
Earning Retention Ratio (%) 95.0095.5688.7789.6779.81
Cash Earning Retention Ratio (%) 95.6996.1391.7492.4894.73
Interest Coverage Ratio (X) 32.1134.1225.8320.515.23
Interest Coverage Ratio (Post Tax) (X) 21.2423.4715.6311.982.21
Enterprise Value (Cr.) 12999.4812422.212571.141701.47915.36
EV / Net Operating Revenue (X) 6.615.561.881.381.00
EV / EBITDA (X) 31.0928.1415.2011.1011.89
MarketCap / Net Operating Revenue (X) 6.655.641.931.421.02
Retention Ratios (%) 94.9995.5588.7689.6679.80
Price / BV (X) 8.8310.322.772.031.18
Price / Net Operating Revenue (X) 6.655.641.931.421.02
EarningsYield 0.020.020.030.050.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

HBL Engineering Ltd. is a Public Limited Listed company incorporated on 29/08/1986 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L40109TG1986PLC006745 and registration number is 006745. Currently Company is involved in the business activities of Manufacture of batteries and accumulators. Company's Total Operating Revenue is Rs. 1946.13 Cr. and Equity Capital is Rs. 27.72 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Batteries8-2-601, Road No 10, Hyderabad Telangana 500034Contact not found
Management
NamePosition Held
Dr. Aluru Jagadish PrasadChairman & Managing Director
Mr. M S S SrinathWhole Time Director
Mr. Narsing Rao SingayapallyVice Chairman, Non Exe. & Ind.Director
Mr. Deeksha MikkilineniNon Exe.Non Ind.Director
Mrs. Kavita Prasad AluruNon Exe.Non Ind.Director
Mrs. Richa DattaInd. Non-Executive Director
Mr. Karipineni Venkat SriramInd. Non-Executive Director
Mrs. Aparna SurabhiInd. Non-Executive Director

FAQ

What is the intrinsic value of HBL Power Systems Ltd and is it undervalued?

As of 15 April 2026, HBL Power Systems Ltd's intrinsic value is ₹265.06, which is 59.84% lower than the current market price of ₹660.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (20.6 %), book value (₹71.6), dividend yield (0.30 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of HBL Power Systems Ltd?

HBL Power Systems Ltd is trading at ₹660.00 as of 15 April 2026, with a FY2026-2027 high of ₹1,122 and low of ₹421. The stock is currently in the middle of its 52-week range. Market cap stands at ₹18,303 Cr..

How does HBL Power Systems Ltd's P/E ratio compare to its industry?

HBL Power Systems Ltd has a P/E ratio of 22.4, which is below the industry average of 29.76. This is broadly in line with or below the industry average.

Is HBL Power Systems Ltd financially healthy?

Key indicators for HBL Power Systems Ltd: ROCE of 27.3 % indicates efficient capital utilization; ROE of 20.6 % shows strong shareholder returns. Dividend yield is 0.30 %.

Is HBL Power Systems Ltd profitable and how is the profit trend?

HBL Power Systems Ltd reported a net profit of ₹276 Cr in Mar 2025 on revenue of ₹1,967 Cr. Compared to ₹94 Cr in Mar 2022, the net profit shows an improving trend.

Does HBL Power Systems Ltd pay dividends?

HBL Power Systems Ltd has a dividend yield of 0.30 % at the current price of ₹660.00. 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 HBL Power Systems 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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