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Last Updated: April 2, 2026, 4:45 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 515147 | NSE: HALDYNGL

Haldyn Glass Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹56.08Overvalued by 32.11%vs CMP ₹82.60

P/E (19.0) × ROE (8.9%) × BV (₹41.20) × DY (0.85%)

₹55.90Overvalued by 32.32%vs CMP ₹82.60
MoS: -47.8% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹63.4923%Over (-23.1%)
Graham NumberEarnings₹61.5716%Over (-25.5%)
Earnings PowerEarnings₹12.9811%Over (-84.3%)
DCFCash Flow₹52.5214%Over (-36.4%)
Net Asset ValueAssets₹41.117%Over (-50.2%)
EV/EBITDAEnterprise₹100.279%Under (+21.4%)
Earnings YieldEarnings₹40.907%Over (-50.5%)
ROCE CapitalReturns₹53.077%Over (-35.8%)
Revenue MultipleRevenue₹71.075%Over (-14%)
Consensus (9 models)₹55.90100%Overvalued
Key Drivers: Wide model spread (₹13–₹100) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 13.2%

*Investments are subject to market risks

Investment Snapshot

64
Haldyn Glass Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health63/100 · Moderate
ROCE 11.5% AverageROE 8.9% AverageD/E 0.02 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money40/100 · Moderate
FII holding stable No changeDII holding down 0.91% MF sellingPromoter holding at 58.9% Stable
Earnings Quality65/100 · Strong
OPM expanding (9% → 14%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +15% YoY GrowingProfit (4Q): +4% YoY Positive
Industry Rank75/100 · Strong
P/E 19.0 vs industry 19.0 In-lineROCE 11.5% vs industry 7.2% Above peers3Y sales CAGR: 21% High growth

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, 4:45 am

Market Cap 444 Cr.
Current Price 82.6
Intrinsic Value₹55.90
High / Low 155/70.4
Stock P/E19.0
Book Value 41.2
Dividend Yield0.85 %
ROCE11.5 %
ROE8.88 %
Face Value 1.00
PEG Ratio1.44

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

View Share Price Target for Haldyn Glass Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Haldyn Glass Ltd 444 Cr. 82.6 155/70.419.0 41.20.85 %11.5 %8.88 % 1.00
Hindusthan National Glass & Industries Ltd 79.2 Cr. 8.84 21.6/8.84 89.90.00 %2.96 %% 2.00
Industry Average444.00 Cr45.7219.0065.550.43%7.23%8.88%1.50

All Competitor Stocks of Haldyn Glass Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 88.5773.8172.9246.4395.2284.2186.84105.90105.2583.61115.02115.71124.70
Expenses 79.1467.9861.6047.7279.0470.6374.5590.5292.9169.9498.30102.17108.38
Operating Profit 9.435.8311.32-1.2916.1813.5812.2915.3812.3413.6716.7213.5416.32
OPM % 10.65%7.90%15.52%-2.78%16.99%16.13%14.15%14.52%11.72%16.35%14.54%11.70%13.09%
Other Income 1.392.113.957.860.228.973.462.144.223.141.406.271.84
Interest 0.360.510.711.142.295.393.513.693.863.903.623.423.33
Depreciation 1.802.062.173.356.127.156.267.597.587.347.607.967.89
Profit before tax 8.665.3712.392.087.9910.015.986.245.125.576.908.436.94
Tax % 33.83%-22.16%26.15%-38.94%27.78%32.57%14.88%16.19%22.27%19.21%21.88%19.34%24.06%
Net Profit 5.736.569.152.895.776.765.105.233.984.505.406.805.27
EPS in Rs 1.071.221.700.541.071.260.950.970.740.841.001.270.98

Last Updated: March 3, 2026, 9:20 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 6:55 am

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 141172166223229178213320299382439
Expenses 123145160197202157196289258327379
Operating Profit 182772628211631415560
OPM % 13%16%4%12%12%12%8%10%14%14%14%
Other Income 235125611211313
Interest 11101112111614
Depreciation 8111111131078192931
Profit before tax 111701615141433322328
Tax % 38%37%355%22%32%30%18%18%24%18%
Net Profit 711-06871227251922
EPS in Rs 1.242.00-0.091.031.531.392.205.014.573.504.09
Dividend Payout % 40%28%-329%58%39%43%27%12%15%20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2016-20172017-20182019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)57.14%-100.00%33.33%-12.50%71.43%125.00%-7.41%-24.00%
Change in YoY Net Profit Growth (%)0.00%-157.14%133.33%-45.83%83.93%53.57%-132.41%-16.59%

Haldyn Glass Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 8 years from 2016-2017 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: February 1, 2026, 2:56 am

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 55555555555
Reserves 115128125128133139148172194210216
Borrowings 18238261247123128133
Other Liabilities 3834333333363647127146154
Total Liabilities 176170166175173186202271450490509
Fixed Assets 8475665950454557240257251
CWIP 2111000123911
Investments 022242218172935434957
Other Assets 71727493104124127156158183200
Total Assets 176170166175173186202271450490509

Reserves and Borrowings Chart

Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 142197162210311945
Cash from Investing Activity + -49-1-5-21-1-12-58-86-34
Cash from Financing Activity + 9-21-33-10-2-13065-10
Net Cash Flow -25-127620-33-21
Free Cash Flow -37197211182-32-777
CFO/OP 96%91%199%43%91%138%90%119%52%81%

Free Cash Flow

MonthMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.0025.004.0018.0026.0015.004.00-16.00-82.00-73.00

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 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 71627682869491687863
Inventory Days 2802151621108520317875238335
Days Payable 101447059661189896209214
Cash Conversion Cycle 25023316813310617917246107184
Working Capital Days 4087907385928933-202
ROCE %14%1%13%13%10%10%18%13%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 58.11%58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.14%58.53%58.88%
FIIs 0.00%0.00%0.00%0.00%0.00%0.00%0.06%0.00%0.00%0.00%0.00%0.00%
DIIs 0.00%0.00%0.00%1.17%1.51%1.74%1.79%1.98%2.44%2.64%1.46%1.53%
Public 41.90%41.86%41.87%40.69%40.36%40.12%40.02%39.89%39.41%39.22%40.02%39.59%
No. of Shareholders 21,73820,89822,52623,18821,93821,89821,41321,84021,68221,49222,15921,566

Shareholding Pattern Chart

No. of Shareholders

Haldyn Glass 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 1.001.001.001.001.00
Basic EPS (Rs.) 3.504.575.012.201.39
Diluted EPS (Rs.) 3.494.564.982.201.39
Cash EPS (Rs.) 7.887.065.113.363.78
Book Value[Excl.RevalReserv]/Share (Rs.) 40.0737.1332.9828.5526.80
Book Value[Incl.RevalReserv]/Share (Rs.) 40.0737.1332.9828.5526.80
Revenue From Operations / Share (Rs.) 70.9955.5859.4639.5833.10
PBDIT / Share (Rs.) 11.4210.306.443.954.65
PBIT / Share (Rs.) 6.076.815.042.622.74
PBT / Share (Rs.) 3.295.034.812.512.66
Net Profit / Share (Rs.) 2.533.563.712.021.87
NP After MI And SOA / Share (Rs.) 3.504.575.012.201.39
PBDIT Margin (%) 16.0918.5310.839.9914.05
PBIT Margin (%) 8.5512.248.476.608.27
PBT Margin (%) 4.639.058.096.348.02
Net Profit Margin (%) 3.556.416.235.105.63
NP After MI And SOA Margin (%) 4.938.228.425.554.21
Return on Networth / Equity (%) 8.7312.3015.187.705.20
Return on Capital Employeed (%) 9.8411.9012.998.599.67
Return On Assets (%) 3.845.469.915.854.02
Long Term Debt / Equity (X) 0.320.330.140.000.00
Total Debt / Equity (X) 0.580.600.240.040.02
Asset Turnover Ratio (%) 0.810.821.351.050.94
Current Ratio (X) 1.090.961.883.123.46
Quick Ratio (X) 0.620.661.542.322.66
Inventory Turnover Ratio (X) 6.622.533.612.242.46
Dividend Payout Ratio (NP) (%) 0.0015.3111.9827.2743.05
Dividend Payout Ratio (CP) (%) 0.008.679.3516.9518.14
Earning Retention Ratio (%) 0.0084.6988.0272.7356.95
Cash Earning Retention Ratio (%) 0.0091.3390.6583.0581.86
Interest Coverage Ratio (X) 4.115.8128.5638.3556.75
Interest Coverage Ratio (Post Tax) (X) 1.913.0117.4420.6123.76
Enterprise Value (Cr.) 588.82902.52354.48204.61136.50
EV / Net Operating Revenue (X) 1.543.021.110.960.76
EV / EBITDA (X) 9.5916.3010.249.635.46
MarketCap / Net Operating Revenue (X) 1.242.661.061.080.96
Retention Ratios (%) 0.0084.6888.0172.7256.94
Price / BV (X) 2.203.981.901.491.19
Price / Net Operating Revenue (X) 1.242.661.061.080.96
EarningsYield 0.030.030.070.050.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Haldyn Glass Ltd. is a Public Limited Listed company incorporated on 25/04/1991 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L51909GJ1991PLC015522 and registration number is 015522. Currently Company is involved in the business activities of Manufacture of hollow glassware (bottles, jars etc.) for the conveyance or packing of goods. Company's Total Operating Revenue is Rs. 381.60 Cr. and Equity Capital is Rs. 5.38 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Glass & Glass ProductsVillage Gavasad, Vadodra District Gujarat 391430Contact not found
Management
NamePosition Held
Mr. Narendra ShettyExecutive Chairman
Mr. Tarun ShettyManaging Director
Mr. Rohan AjilaDirector
Mr. G PadbhanabhanDirector
Mr. Ajit ShahDirector
Ms. Mona CheriyanDirector

FAQ

What is the intrinsic value of Haldyn Glass Ltd and is it undervalued?

As of 14 April 2026, Haldyn Glass Ltd's intrinsic value is ₹55.90, which is 32.32% lower than the current market price of ₹82.60, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (8.88 %), book value (₹41.2), dividend yield (0.85 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Haldyn Glass Ltd?

Haldyn Glass Ltd is trading at ₹82.60 as of 14 April 2026, with a FY2026-2027 high of ₹155 and low of ₹70.4. The stock is currently near its 52-week low. Market cap stands at ₹444 Cr..

How does Haldyn Glass Ltd's P/E ratio compare to its industry?

Haldyn Glass Ltd has a P/E ratio of 19.0, which is below the industry average of 19.00. This is broadly in line with or below the industry average.

Is Haldyn Glass Ltd financially healthy?

Key indicators for Haldyn Glass Ltd: ROCE of 11.5 % is moderate. Dividend yield is 0.85 %.

Is Haldyn Glass Ltd profitable and how is the profit trend?

Haldyn Glass Ltd reported a net profit of ₹19 Cr in Mar 2025 on revenue of ₹382 Cr. Compared to ₹12 Cr in Mar 2022, the net profit shows an improving trend.

Does Haldyn Glass Ltd pay dividends?

Haldyn Glass Ltd has a dividend yield of 0.85 % at the current price of ₹82.60. 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 Haldyn Glass 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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