Hind Rectifiers

NSE: HIRECT · Industrial Products

52W Range₹644 ₹2,109

Snapshot

Unlock Hind Rectifiers's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Hind Rectifiers Limited designs, manufactures, and markets power semiconductor devices, electronic equipment, and railway transportation components. The company serves diverse sectors including power, electrochemical, and railway infrastructure through a comprehensive portfolio of converters, transformers, and power supply systems.

Business Model

The company generates revenue through the sale of specialized power electronic equipment and railway components, complemented by value-added services such as maintenance, erectioning, and commissioning. It leverages long-standing technical expertise to provide bespoke solutions for industrial and transportation applications.

  • Incorporation Year:1958

Growth Outlook

Growth is primarily driven by the ongoing modernisation of Indian railway infrastructure and the increasing demand for high-efficiency power electronics in the industrial sector. The company's focus on advanced propulsion systems and pollution control equipment positions it to benefit from domestic industrialisation trends.

Key Risks

  • Dependency on Railway Sector. A significant portion of revenue is tied to railway infrastructure projects, making the company vulnerable to fluctuations in government capital expenditure and policy shifts.
  • Raw Material Price Volatility. Fluctuations in the costs of essential raw materials like copper and electronic components can adversely impact profit margins.
  • Intense Competition. The company faces stiff competition from both domestic and international players offering similar power electronic and semiconductor solutions.
  • Technological Obsolescence. Rapid advancements in power electronics require continuous R&D investment to remain competitive and meet evolving industry standards.

Price

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Key Metrics

P/E

51.3x

Q4 FY26 · consolidated

51.3 vs 26.3x5Y avg

EV/EBITDA

54.4x

Q4 FY26 · consolidated

54.4 vs 159.3x5Y avg

NET PROFIT MARGIN

-0.6%

Q4 FY26 · consolidated

-6.0 ppYoY

DEBT TO EQUITY

1.1x

Q4 FY26 · consolidated

+0.14xYoY

Peers · Industrial Products

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Hind RectifiersHIRECT
2,59451.2954.388.6%22.4%32.4%-1.2%
Omnitech Engg.OMNI
2,92733.0%
Pitti Engineering LimitedPITTIENG
2,86829.9211.4812.8%18.6%12.8%18.6%-1.8%
Marine Electric.MARINE
2,32960.0530.9114.3%12.6%13.8%20.5%+27.0%
Standard Engineering TechnologySETL
2,32771.8842.0517.8%11.4%16.0%
Cyient DLM LimitedCYIENTDLM
2,27663.5228.72-17.0%12.9%7.6%10.4%+21.3%

As of Q4 FY26

Financials