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Last Updated: April 2, 2026, 4:45 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 526931 | NSE: HRYNSHP

Hariyana Ship Breakers Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹12.59Overvalued by 86.82%vs CMP ₹95.50

P/E (5.8) × ROE (1.1%) × BV (₹243.00) × DY (2.00%)

₹179.78Undervalued by 88.25%vs CMP ₹95.50
MoS: +46.9% (Strong)Confidence: 50/100 (Moderate)Models: 5 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹17.4227%Over (-81.8%)
Graham NumberEarnings₹300.9020%Under (+215.1%)
Earnings PowerEarnings₹14.5913%Over (-84.7%)
DCFCash Flow₹371.8613%Under (+289.4%)
Net Asset ValueAssets₹243.219%Under (+154.7%)
Earnings YieldEarnings₹165.609%Under (+73.4%)
ROCE CapitalReturns₹325.009%Under (+240.3%)
Consensus (7 models)₹179.78100%Undervalued
Key Drivers: EPS CAGR 38.4% lifts DCF — verify sustainability. | ROE 1.1% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 38.4%

*Investments are subject to market risks

Investment Snapshot

60
Hariyana Ship Breakers Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health58/100 · Moderate
ROCE 3.2% WeakROE 1.1% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 75.0% Stable
Earnings Quality50/100 · Moderate
OPM contracting (0% → -454%) DecliningWorking capital: -24,223 days (improving) Efficient
Quarterly Momentum100/100 · Strong
Revenue (4Q): +272% YoY AcceleratingProfit (4Q): +765% YoY StrongOPM: 81.8% (up 81.8% YoY) Margin expansion
Industry Rank35/100 · Weak
P/E 5.8 vs industry 32.0 Cheaper than peersROCE 3.2% vs industry 19.5% Below peersROE 1.1% vs industry 24.9% Below peers3Y sales CAGR: -100% Shrinking

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 58.9 Cr.
Current Price 95.5
Intrinsic Value₹179.78
High / Low 149/82.2
Stock P/E5.77
Book Value 243
Dividend Yield0.00 %
ROCE3.20 %
ROE1.10 %
Face Value 10.0
PEG Ratio0.15

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

View Share Price Target for Hariyana Ship Breakers Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hariyana Ship Breakers Ltd 58.9 Cr. 95.5 149/82.25.77 2430.00 %3.20 %1.10 % 10.0
Mazagon Dock Shipbuilders Ltd 93,512 Cr. 2,318 3,778/2,05740.7 2000.75 %48.8 %36.5 % 5.00
Cochin Shipyard Ltd 35,216 Cr. 1,339 2,547/1,18749.5 2190.73 %20.4 %15.8 % 5.00
Swan Defence and Heavy Industries Ltd 8,348 Cr. 1,585 2,518/95.0 46.50.00 %5.76 %46.3 % 10.0
Industry Average45,692.00 Cr1,334.3831.99177.130.37%19.54%24.93%7.50

All Competitor Stocks of Hariyana Ship Breakers Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 31.2715.4256.4690.840.610.720.220.000.000.000.001.302.20
Expenses 31.0613.1861.7788.69-0.041.440.550.470.570.520.390.280.40
Operating Profit 0.212.24-5.312.150.65-0.72-0.33-0.47-0.57-0.52-0.391.021.80
OPM % 0.67%14.53%-9.40%2.37%106.56%-100.00%-150.00%78.46%81.82%
Other Income 1.673.542.984.341.741.772.082.062.041.992.172.697.30
Interest 0.541.230.770.051.000.661.110.600.560.520.540.620.45
Depreciation 0.190.170.300.300.290.280.280.280.280.270.280.280.28
Profit before tax 1.154.38-3.406.141.100.110.360.710.630.680.962.818.37
Tax % 65.22%15.30%2.06%3.58%33.64%63.64%36.11%30.99%31.75%32.35%29.17%20.28%18.52%
Net Profit 0.403.71-3.475.920.740.040.230.490.420.460.682.256.82
EPS in Rs 0.656.02-5.639.601.200.060.370.790.680.751.103.6511.06

Last Updated: March 3, 2026, 9:18 am

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4642313652751563771271481685414904
Expenses 4652443732861623871431451705315222
Operating Profit -1-12-7-11-6-10-163-11-3-22
OPM % -0%-5%-2%-4%-4%-3%-13%2%-1%1%-2%-905%55%
Other Income 32332430212112158811814
Interest 13478411222232
Depreciation 2222001111111
Profit before tax 1614891010-615464213
Tax % 15%1%5%-7%4%17%5%36%53%26%18%33%
Net Profit 131479108-710243210
EPS in Rs 21.3922.9312.0515.1915.9113.20-11.1116.023.266.785.242.5916.56
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)7.69%-50.00%28.57%11.11%-20.00%-187.50%242.86%-80.00%100.00%-25.00%-33.33%
Change in YoY Net Profit Growth (%)0.00%-57.69%78.57%-17.46%-31.11%-167.50%430.36%-322.86%180.00%-125.00%-8.33%

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

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: March 3, 2026, 1:08 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 6666666666666
Reserves 789299109118127120130132136139141144
Borrowings 2116793671423151616
Other Liabilities 5611814096341126321345498333
Total Liabilities 351222252219469265165271195263163166169
Fixed Assets 24171599911121211121110
CWIP 0000012222000
Investments 13317769107131122114117124134138141
Other Assets 3141741601413531243114265126181818
Total Assets 351222252219469265165271195263163166169

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -9211250-472-42-1434-3-480-2
Cash from Investing Activity + 11-13-475251-414160113
Cash from Financing Activity + 85-97-6-6-9-1-1-118-10-5
Net Cash Flow 32-4-144-47-149-1-40-9-3
Free Cash Flow -9311650-421-44-1731-4-481-2
CFO/OP 7,241%-916%-679%413%-38%418%86%1,352%27%-6,652%-57%46%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-212.00-18.00-14.00-20.00-9.00-16.00-23.002.00-5.00-22.00-18.00-18.00

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 30.0660.7034.6829.810.400.092.574.060.894.730.000.00
Inventory Days 94.2317.333.8024.28661.7492.6632.58206.0016.72624.054.37
Days Payable 34.10180.28142.16117.94755.2582.7267.85289.75112.01687.410.00
Cash Conversion Cycle 90.20-102.24-103.69-63.85-93.1010.02-32.70-79.69-94.40-58.644.370.00
Working Capital Days 41.3783.1520.4157.30-83.97-8.21-27.09-85.36-99.87-120.14-32.27-24,222.73
ROCE %11.88%8.05%11.10%16.21%9.48%6.11%-3.80%12.80%4.24%5.13%3.92%3.20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%74.95%
Public 25.06%25.05%25.04%25.04%25.05%25.04%25.05%25.04%25.05%25.05%25.05%25.04%
No. of Shareholders 3,4253,3263,5453,5313,5784,4936,0545,7915,7656,2776,2076,242

Shareholding Pattern Chart

No. of Shareholders

Hariyana Ship Breakers 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.) 2.605.236.662.9915.56
Diluted EPS (Rs.) 2.605.236.662.9915.56
Cash EPS (Rs.) 5.344.737.9512.4121.74
Book Value[Excl.RevalReserv]/Share (Rs.) 238.16235.37229.95223.61220.73
Book Value[Incl.RevalReserv]/Share (Rs.) 238.16235.37229.95223.61220.73
Revenue From Operations / Share (Rs.) 0.36241.0287.68273.41240.87
PBDIT / Share (Rs.) 11.139.9513.9618.6133.55
PBIT / Share (Rs.) 9.338.0612.6617.1632.40
PBT / Share (Rs.) 4.804.039.0614.6029.54
Net Profit / Share (Rs.) 3.542.846.6410.9720.59
NP After MI And SOA / Share (Rs.) 2.605.236.662.9915.56
PBDIT Margin (%) 3056.924.1215.926.8013.92
PBIT Margin (%) 2562.133.3414.436.2713.45
PBT Margin (%) 1320.041.6710.335.3312.26
Net Profit Margin (%) 973.181.187.574.018.54
NP After MI And SOA Margin (%) 714.742.177.591.096.45
Return on Networth / Equity (%) 1.092.222.891.337.05
Return on Capital Employeed (%) 3.863.375.407.5914.49
Return On Assets (%) 0.961.971.560.943.53
Total Debt / Equity (X) 0.100.100.160.020.00
Asset Turnover Ratio (%) 0.000.690.230.720.67
Current Ratio (X) 0.180.210.931.131.05
Quick Ratio (X) 0.080.100.220.990.45
Inventory Turnover Ratio (X) 0.123.430.421.921.09
Interest Coverage Ratio (X) 2.462.473.887.2511.70
Interest Coverage Ratio (Post Tax) (X) 1.781.712.855.278.18
Enterprise Value (Cr.) 76.9766.4346.5220.94-8.97
EV / Net Operating Revenue (X) 342.860.440.860.12-0.06
EV / EBITDA (X) 11.2210.835.401.82-0.43
MarketCap / Net Operating Revenue (X) 276.220.350.630.340.21
Price / BV (X) 0.420.360.240.420.24
Price / Net Operating Revenue (X) 276.260.350.630.340.21
EarningsYield 0.020.060.120.030.29

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hariyana Ship-Breakers Ltd. is a Public Limited Listed company incorporated on 09/07/1981 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L61100MH1981PLC024774 and registration number is 024774. Currently Company is involved in the business activities of Materials recovery. Company's Total Operating Revenue is Rs. 0.22 Cr. and Equity Capital is Rs. 6.17 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Ship - Docks/Breaking/Repairs156, Maker Chambers VI, 220, Jamnalal Bajaj Marg, Mumbai Maharashtra 400021Contact not found
Management
NamePosition Held
Mr. Shantisarup ReniwalChairman & Executive Director
Mr. Rakesh ReniwalManaging Director
Mrs. Unnati ReniwalExecutive Director
Mr. Yogesh ThakkarInd.& Non Exe.Director
Mr. Divyush GoenkaInd.& Non Exe.Director
Mr. Viral kumar TeliInd.& Non Exe.Director

FAQ

What is the intrinsic value of Hariyana Ship Breakers Ltd and is it undervalued?

As of 13 April 2026, Hariyana Ship Breakers Ltd's intrinsic value is ₹179.78, which is 88.25% higher than the current market price of ₹95.50, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (1.10 %), book value (₹243), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hariyana Ship Breakers Ltd?

Hariyana Ship Breakers Ltd is trading at ₹95.50 as of 13 April 2026, with a FY2026-2027 high of ₹149 and low of ₹82.2. The stock is currently near its 52-week low. Market cap stands at ₹58.9 Cr..

How does Hariyana Ship Breakers Ltd's P/E ratio compare to its industry?

Hariyana Ship Breakers Ltd has a P/E ratio of 5.77, which is below the industry average of 31.99. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Hariyana Ship Breakers Ltd financially healthy?

Key indicators for Hariyana Ship Breakers Ltd: ROCE of 3.20 % is on the lower side compared to the industry average of 19.54%; ROE of 1.10 % is below ideal levels (industry average: 24.93%). Dividend yield is 0.00 %.

Is Hariyana Ship Breakers Ltd profitable and how is the profit trend?

Hariyana Ship Breakers Ltd reported a net profit of ₹2 Cr in Mar 2025. Compared to ₹2 Cr in Mar 2022, the net profit shows a mixed trend.

Does Hariyana Ship Breakers Ltd pay dividends?

Hariyana Ship Breakers Ltd has a dividend yield of 0.00 % at the current price of ₹95.50. 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 Hariyana Ship Breakers 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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