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Last Updated on: 25 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of Hind Rectifiers Ltd

About the Company - Hind Rectifiers Ltd

Hind Rectifiers Ltd. is a Public Limited Listed company incorporated on 25/04/1958 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L28900MH1958PLC011077 and registration number is 011077. Currently Company is involved in the business activities of Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. Company’s Total Operating Revenue is Rs. 372.10 Cr. and Equity Capital is Rs. 3.31 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Electronics - Equipment/ComponentsLake Road, Bhandup (West), Mumbai Maharashtra 400078investors@hirect.com
http://www.hirect.com
Management
NamePosition Held
Mr. Pradeep V GoyalChairman & Ind.Director
Mr. Suramya NevatiaManaging Director & CEO
Mrs. Akshada NevatiaExecutive Director
Mr. Pawan Kumar GolyanNon Exe.Non Ind.Director
Mr. Parimal MerchantIndependent Director
Mr. Ashlesha BodasIndependent Director
Mr. V K BhartiaIndependent Director
Mr. Vandan ShahIndependent Director

Basic Stock Data of Hind Rectifiers Ltd

Last Updated: July 24, 2024, 11:13 pm

Market Cap 1,237 Cr.
Current Price 722
High / Low824/275
Stock P/E71.4
Book Value 72.7
Dividend Yield0.00 %
ROCE15.9 %
ROE14.7 %
Face Value 2.00
PEG Ratio-3.41

Data Source: screener.in

Hind Rectifiers Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales81.0075.5773.45102.1294.19102.3472.6477.6497.23111.5997.58131.98136.63
Expenses76.1571.3968.3694.6789.5397.3672.9179.8490.68100.5790.95121.37123.15
Operating Profit4.854.185.097.454.664.98-0.27-2.206.5511.026.6310.6113.48
OPM %5.99%5.53%6.93%7.30%4.95%4.87%-0.37%-2.83%6.74%9.88%6.79%8.04%9.87%
Other Income0.040.100.050.100.040.160.020.060.04-10.630.060.10-6.91
Interest2.262.101.771.681.671.761.722.151.992.272.522.843.23
Depreciation0.961.051.061.081.141.211.241.281.251.371.551.882.02
Profit before tax1.671.132.314.791.892.17-3.21-5.573.35-3.252.625.991.32
Tax %25.15%23.89%33.33%29.44%30.69%28.11%29.28%27.29%27.76%24.31%27.86%33.72%-14.39%
Net Profit1.250.851.553.381.311.56-2.27-4.062.42-2.461.903.981.52
EPS in Rs0.750.510.942.040.790.94-1.37-2.451.46-1.441.112.320.89

Last Updated: July 11, 2024, 7:37 am

Hind Rectifiers Ltd Quarterly Chart

Hind Rectifiers Ltd Profit & Loss

Last Updated: July 10, 2024, 5:50 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales118136979494111126255300305372359438
Expenses1021221009692107116229262285349344404
Operating Profit1614-4-22510263820231535
OPM %13%10%-4%-3%2%4%8%10%13%7%6%4%8%
Other Income00001-701000-10-10
Interest21223568897810
Depreciation2221222344456
Profit before tax1211-7-6-2-1021726711-99
Tax %12%9%30%40%31%27%35%29%30%28%30%27%
Net Profit1110-5-4-2-71121858-66
EPS in Rs6.436.10-2.97-2.15-0.91-4.290.797.1211.163.224.71-3.713.45
Dividend Payout %23%24%-6%0%0%0%0%6%7%12%8%0%

Hind Rectifiers Ltd Profit & Loss Yearly Chart

Hind Rectifiers Ltd Growth

Compounded Sales Growth
10 Years:18%
5 Years:15%
3 Years:19%
TTM:44%
Compounded Profit Growth
10 Years:19%
5 Years:9%
3 Years:48%
TTM:297%
Stock Price CAGR
10 Years:32%
5 Years:43%
3 Years:66%
1 Year:148%
Return on Equity
10 Years:7%
5 Years:10%
3 Years:9%
Last Year:15%

Last Updated: July 25, 2024, 9:09 am

Hind Rectifiers Ltd Balance Sheet

Last Updated: July 10, 2024, 5:50 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital3333333333333
Reserves60676360595063759296104108114
Borrowings1519232632415164908475105111
Other Liabilities25242526301935435757647674
Total Liabilities103114113116123113153185243241246292303
Fixed Assets161716182120272633414880100
CWIP000125414182028218
Investments0000000060000
Other Assets8797979610188121144185180170192194
Total Assets103114113116123113153185243241246292303

Hind Rectifiers Ltd Reserves and Borrowings Chart

Hind Rectifiers Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 6-125-3-46422363334
Cash from Investing Activity -4-1-3-5-4-10-10-22-8-20-29-19
Cash from Financing Activity 0-103415319-15-17-4-14
Net Cash Flow3-3-04-31-11-1-000

Hind Rectifiers Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days18315320022117411716190991056669
Inventory Days8810014711718012614310612110697121
Days Payable73568997124571156569656069
Cash Conversion Cycle198197258241230185188132151146104120
Working Capital Days179173243228224172192120141145103116
ROCE %19%14%-6%-4%1%3%8%19%21%9%10%5%

Hind Rectifiers Ltd Financial Efficiency Indicators Chart

Hind Rectifiers Ltd Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters42.25%42.25%42.25%42.25%42.25%42.25%44.08%44.08%44.08%44.08%44.05%44.05%
FIIs4.97%6.39%6.47%6.47%6.47%6.47%6.26%6.26%6.26%5.72%5.76%5.82%
DIIs0.02%0.02%0.02%0.02%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%
Public52.76%51.34%51.26%51.26%51.26%51.26%49.64%49.64%49.65%50.18%50.16%50.13%
No. of Shareholders10,0049,4329,6089,6529,5539,1368,9217,9837,5808,4039,93610,997

Hind Rectifiers Ltd Shareholding Pattern Chart

No. of Hind Rectifiers Ltd Shareholders

This stock is not held by any mutual fund

Hind Rectifiers Ltd ROCE Trend

Hind Rectifiers Ltd EPS Trend

Hind Rectifiers Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)7.30-3.844.713.2211.16
Diluted EPS (Rs.)7.28-3.844.683.2211.16
Cash EPS (Rs.)11.64-0.717.425.5313.62
Book Value[Excl.RevalReserv]/Share (Rs.)72.6665.2464.8760.2457.74
Book Value[Incl.RevalReserv]/Share (Rs.)72.6665.2464.8760.2457.74
Dividend / Share (Rs.)1.200.000.400.400.80
Revenue From Operations / Share (Rs.)301.99209.71224.65184.20180.89
PBDIT / Share (Rs.)26.178.9613.6012.0222.72
PBIT / Share (Rs.)21.835.9610.899.7120.26
PBT / Share (Rs.)10.32-5.076.744.4515.84
Net Profit / Share (Rs.)7.30-3.724.713.2211.16
PBDIT Margin (%)8.664.276.056.5212.55
PBIT Margin (%)7.222.844.845.2611.19
PBT Margin (%)3.41-2.412.992.418.75
Net Profit Margin (%)2.41-1.772.091.746.16
Return on Networth / Equity (%)10.04-5.697.255.3419.32
Return on Capital Employeed (%)23.657.2113.4713.7929.15
Return On Assets (%)3.77-2.173.162.217.61
Long Term Debt / Equity (X)0.180.210.190.110.15
Total Debt / Equity (X)1.040.930.690.770.88
Asset Turnover Ratio (%)1.661.331.531.261.40
Current Ratio (X)1.211.231.471.401.39
Quick Ratio (X)0.640.610.770.850.84
Inventory Turnover Ratio (X)4.033.423.983.323.59
Dividend Payout Ratio (NP) (%)0.000.008.4924.853.58
Dividend Payout Ratio (CP) (%)0.000.005.3914.472.93
Earning Retention Ratio (%)0.000.0091.5175.1596.42
Cash Earning Retention Ratio (%)0.000.0094.6185.5397.07
Interest Coverage Ratio (X)3.521.893.272.285.14
Interest Coverage Ratio (Post Tax) (X)2.531.542.131.613.53
Enterprise Value (Cr.)1159.34436.09380.72272.61276.81
EV / Net Operating Revenue (X)2.241.211.020.890.92
EV / EBITDA (X)25.8528.4116.8913.707.36
MarketCap / Net Operating Revenue (X)1.990.920.820.640.65
Retention Ratios (%)0.000.0091.5075.1496.41
Price / BV (X)8.292.982.861.982.04
Price / Net Operating Revenue (X)1.990.920.820.640.65
EarningsYield0.01-0.010.020.020.09

Hind Rectifiers Ltd Profitability Ratios (%)

Hind Rectifiers Ltd Liquidity Ratios

Hind Rectifiers Ltd Liquidity Ratios (%)

Hind Rectifiers Ltd Interest Coverage Ratios (%)

Hind Rectifiers Ltd Valuation Ratios

Fair Value

Fair Value: 778.31

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 7.80% compared to the current price 722

Intrinsic Value: 615.43

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 14.76% compared to the current price 722

Last 5 Year EPS CAGR: -20.93%

*Investments are subject to market risks

Strength and Weakness of Hind Rectifiers Ltd Stock

StrengthWeakness
  1. The company has higher reserves (79.83 cr) compared to borrowings (62.08 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (215.77 cr) and profit (4.69 cr) over the years.
  1. The stock has a low average ROCE of 8.25%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 169.67, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 179.17, which may not be favorable.

FAQ

What is the latest fair value of Hind Rectifiers Ltd?

The latest fair value of Hind Rectifiers Ltd is ₹778.31.

What is the Market Cap of Hind Rectifiers Ltd?

The Market Cap of Hind Rectifiers Ltd is 1,237 Cr..

What is the current Stock Price of Hind Rectifiers Ltd as on 25 July 2024?

The current stock price of Hind Rectifiers Ltd as on 25 July 2024 is 722.

What is the High / Low of Hind Rectifiers Ltd stocks in FY 2024?

In FY 2024, the High / Low of Hind Rectifiers Ltd stocks is 824/275.

What is the Stock P/E of Hind Rectifiers Ltd?

The Stock P/E of Hind Rectifiers Ltd is 71.4.

What is the Book Value of Hind Rectifiers Ltd?

The Book Value of Hind Rectifiers Ltd is 72.7.

What is the Dividend Yield of Hind Rectifiers Ltd?

The Dividend Yield of Hind Rectifiers Ltd is 0.00 %.

What is the ROCE of Hind Rectifiers Ltd?

The ROCE of Hind Rectifiers Ltd is 15.9 %.

What is the ROE of Hind Rectifiers Ltd?

The ROE of Hind Rectifiers Ltd is 14.7 %.

What is the Face Value of Hind Rectifiers Ltd?

The Face Value of Hind Rectifiers Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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 Hind Rectifiers 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