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Last Updated: April 2, 2026, 4:45 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 541276 | NSE: HARDWYN

Hardwyn India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹16.63Overvalued by 18.08%vs CMP ₹20.30

P/E (89.7) × ROE (2.8%) × BV (₹8.20) × DY (2.00%)

₹7.66Overvalued by 62.27%vs CMP ₹20.30
MoS: -165% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹18.7723%Fair (-7.5%)
Graham NumberEarnings₹6.3716%Over (-68.6%)
Earnings PowerEarnings₹1.5811%Over (-92.2%)
DCFCash Flow₹4.0814%Over (-79.9%)
Net Asset ValueAssets₹8.217%Over (-59.6%)
EV/EBITDAEnterprise₹4.559%Over (-77.6%)
Earnings YieldEarnings₹2.207%Over (-89.2%)
ROCE CapitalReturns₹2.997%Over (-85.3%)
Revenue MultipleRevenue₹4.335%Over (-78.7%)
Consensus (9 models)₹7.66100%Overvalued
Key Drivers: ROE 2.8% is below cost of equity. | Wide model spread (₹2–₹19) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.9%

*Investments are subject to market risks

Investment Snapshot

52
Hardwyn India Ltd scores 52/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 4.1% WeakROE 2.8% WeakD/E 0.01 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 43.8% Stable
Earnings Quality65/100 · Strong
OPM expanding (9% → 12%) Improving
Quarterly Momentum40/100 · Moderate
Revenue (4Q): +5% YoY GrowingProfit (4Q): -10% YoY DecliningOPM: 7.3% (down 10.9% YoY) Margin pressure
Industry Rank30/100 · Weak
P/E 89.7 vs industry 102.1 In-lineROCE 4.1% vs industry 15.2% Below peersROE 2.8% vs industry 8.8% Below peers3Y sales CAGR: 19% 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, 4:45 am

Market Cap 991 Cr.
Current Price 20.3
Intrinsic Value₹7.66
High / Low 21.0/10.8
Stock P/E89.7
Book Value 8.20
Dividend Yield0.00 %
ROCE4.13 %
ROE2.77 %
Face Value 1.00
PEG Ratio6.96

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

View Share Price Target for Hardwyn India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hardwyn India Ltd 991 Cr. 20.3 21.0/10.889.7 8.200.00 %4.13 %2.77 % 1.00
Euro Asia Exports Ltd 1,094 Cr. 798 984/54.3507 11.10.00 %82.7 %87.0 % 10.0
Hexa Tradex Ltd 877 Cr. 159 216/147 8710.00 %0.05 %0.60 % 2.00
India Motor Parts & Accessories Ltd 1,217 Cr. 976 1,194/91013.6 2,0493.08 %4.38 %3.50 % 10.0
State Trading Corporation of India Ltd (STCINDIA) 619 Cr. 103 168/97.013.9 6630.00 %%% 10.0
Industry Average10,858.54 Cr140.30102.09119.050.48%15.22%8.81%7.62

All Competitor Stocks of Hardwyn India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 34.7229.8827.1636.3435.0636.9430.9039.8734.4936.3031.9543.1438.56
Expenses 29.9424.9025.7234.2728.7031.1328.6633.9328.2133.4826.5036.7035.75
Operating Profit 4.784.981.442.076.365.812.245.946.282.825.456.442.81
OPM % 13.77%16.67%5.30%5.70%18.14%15.73%7.25%14.90%18.21%7.77%17.06%14.93%7.29%
Other Income 0.010.680.200.080.070.150.030.090.260.360.050.030.14
Interest 0.200.180.160.190.510.290.160.150.580.280.170.190.23
Depreciation 0.070.070.060.060.130.870.400.410.410.420.380.410.42
Profit before tax 4.525.411.421.905.794.801.715.475.552.484.955.872.30
Tax % 27.88%30.87%28.87%28.95%29.19%31.46%29.24%29.25%29.01%30.24%29.09%29.13%28.70%
Net Profit 3.273.731.001.354.113.301.203.873.941.743.514.151.64
EPS in Rs 0.110.080.020.030.080.070.020.080.080.040.070.080.03

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

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 7:00 am

MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1842125784124135141150
Expenses 1842115579111119124132
Operating Profit 0002513161718
OPM % 1%1%4%4%6%11%12%12%12%
Other Income 000001011
Interest 000011111
Depreciation 000000122
Profit before tax 0002513141516
Tax % 20%25%31%27%28%29%30%29%
Net Profit 000239101111
EPS in Rs 0.000.000.000.050.120.190.200.220.22
Dividend Payout % 0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)50.00%200.00%11.11%10.00%
Change in YoY Net Profit Growth (%)0.00%150.00%-188.89%-1.11%

Hardwyn India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 4 years from 2021-2022 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

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

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 71010101026354949
Reserves 00025346347344352
Borrowings 0605759106
Other Liabilities 213223532524759
Total Liabilities 917133957409443449466
Fixed Assets 000011544
CWIP 000000000
Investments 00000348348348348
Other Assets 917133956609097113
Total Assets 917133957409443449466

Reserves and Borrowings Chart

Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -7-96-4-0421
Cash from Investing Activity + -0-0-0-0-1-0-5-1
Cash from Financing Activity + 79-651-33-1
Net Cash Flow 0-0010000
Free Cash Flow -7-96-4-13-31
CFO/OP -6,830%-3,775%1,298%-146%22%56%41%35%

Free Cash Flow

MonthMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow0.00-6.000.00-3.00-2.008.007.007.00

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 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 178148291135132628481
Inventory Days 1066971113152166
Days Payable 458314616397143103
Cash Conversion Cycle 13414821458407893144
Working Capital Days 1398832669586476100
ROCE %2%3%17%27%7%4%4%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 43.77%43.77%43.77%43.77%43.77%43.77%43.77%43.77%43.77%43.77%43.77%43.77%
FIIs 0.53%0.83%0.46%0.46%0.46%0.46%0.48%0.07%0.91%0.01%0.01%0.63%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.46%0.46%0.46%0.46%0.46%
Public 55.71%55.40%55.78%55.75%55.76%55.77%55.75%55.70%54.86%55.77%55.75%55.13%
No. of Shareholders 3,45618,64321,33123,74332,19434,48036,43659,25060,24058,40755,80353,048

Shareholding Pattern Chart

No. of Shareholders

Hardwyn India 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 23
FaceValue 1.001.0010.00
Basic EPS (Rs.) 0.230.295.86
Diluted EPS (Rs.) 0.230.295.86
Cash EPS (Rs.) 0.260.324.53
Book Value[Excl.RevalReserv]/Share (Rs.) 8.0510.96142.38
Book Value[Incl.RevalReserv]/Share (Rs.) 8.0510.96142.38
Revenue From Operations / Share (Rs.) 3.784.3862.93
PBDIT / Share (Rs.) 0.380.486.32
PBIT / Share (Rs.) 0.340.456.21
PBT / Share (Rs.) 0.320.415.88
Net Profit / Share (Rs.) 0.220.294.42
NP After MI And SOA / Share (Rs.) 0.220.294.42
PBDIT Margin (%) 10.1811.1010.05
PBIT Margin (%) 9.2310.319.87
PBT Margin (%) 8.589.559.35
Net Profit Margin (%) 6.086.697.02
NP After MI And SOA Margin (%) 6.086.697.02
Return on Networth / Equity (%) 2.852.673.10
Return on Capital Employeed (%) 4.274.064.31
Return On Assets (%) 2.412.292.76
Total Debt / Equity (X) 0.020.020.01
Asset Turnover Ratio (%) 0.400.350.00
Current Ratio (X) 1.731.651.74
Quick Ratio (X) 0.840.780.88
Inventory Turnover Ratio (X) 3.423.640.00
Interest Coverage Ratio (X) 15.6814.4919.23
Interest Coverage Ratio (Post Tax) (X) 10.369.7314.44
Enterprise Value (Cr.) 564.801175.70676.51
EV / Net Operating Revenue (X) 3.067.694.11
EV / EBITDA (X) 30.0369.2440.88
MarketCap / Net Operating Revenue (X) 2.997.624.06
Price / BV (X) 1.403.041.80
Price / Net Operating Revenue (X) 2.997.624.06
EarningsYield 0.020.010.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hardwyn India Ltd. is a Public Limited Listed company incorporated on 12/10/2017 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74990DL2017PLC324826 and registration number is 324826. Currently company belongs to the Industry of Trading. Company's Total Operating Revenue is Rs. 141.56 Cr. and Equity Capital is Rs. 48.84 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Trading & DistributorsB-101, Phase - 1, New Delhi Delhi 110064Contact not found
Management
NamePosition Held
Mr. Swaran Jeet Singh SayalChairperson & Executive Director
Mr. Rubaljeet Singh SayalManaging Director & CFO
Mr. Tanya SayalNon Exe.Non Ind.Director
Mr. Kulmeet Singh LambaInd. Non-Executive Director
Mr. Shikha ChawlaInd. Non-Executive Director
Ms. Nidhi SethiInd. Non-Executive Director

FAQ

What is the intrinsic value of Hardwyn India Ltd and is it undervalued?

As of 14 April 2026, Hardwyn India Ltd's intrinsic value is ₹7.66, which is 62.27% lower than the current market price of ₹20.30, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.77 %), book value (₹8.20), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hardwyn India Ltd?

Hardwyn India Ltd is trading at ₹20.30 as of 14 April 2026, with a FY2026-2027 high of ₹21.0 and low of ₹10.8. The stock is currently near its 52-week high. Market cap stands at ₹991 Cr..

How does Hardwyn India Ltd's P/E ratio compare to its industry?

Hardwyn India Ltd has a P/E ratio of 89.7, which is below the industry average of 102.09. This is broadly in line with or below the industry average.

Is Hardwyn India Ltd financially healthy?

Key indicators for Hardwyn India Ltd: ROCE of 4.13 % is on the lower side compared to the industry average of 15.22%; ROE of 2.77 % is below ideal levels (industry average: 8.81%). Dividend yield is 0.00 %.

Is Hardwyn India Ltd profitable and how is the profit trend?

Hardwyn India Ltd reported a net profit of ₹11 Cr in Mar 2025 on revenue of ₹141 Cr. Compared to ₹3 Cr in Mar 2022, the net profit shows an improving trend.

Does Hardwyn India Ltd pay dividends?

Hardwyn India Ltd has a dividend yield of 0.00 % at the current price of ₹20.30. The company is currently not paying meaningful dividends.

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 Hardwyn India 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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