Hindusthan Engineering Unlisted Shares
About Hindusthan Engineering Unlisted Shares
Hindusthan Engineering & Industries Limited (HEIL) is a leading engineering and manufacturing company with a legacy dating back to 1947. The company specializes in rolling stock, foundry, chemicals, and jute products, serving Indian Railways and global markets.
Business Divisions
- Rolling Stock – HEIL has been a pioneer in manufacturing freight cars, supplying Indian Railways with high-payload stainless steel wagons for commodities like petroleum, chemicals, and cement.
- Foundry – The company produces bogies, couplers, CMS crossings, and other railway components, exporting to North America, Australia, and South Korea. It is a licensee of Standard Car Truck Company, U.S.A.
- Chemicals – HEIL operates a fully automated plant for cyanide production, with 40% of its output exported. The products serve industries like pharmaceuticals, electroplating, and rubber.
- Jute – Through Dalhousie Jute Company, HEIL manufactures packaging materials used in food grain, sugar, cement, and fertilizer industries, with a strong global presence.
Financial Highlights
- Revenue Growth – The company’s revenue grew from INR 800 Cr in 2021 to INR 2754 Cr in 2024, demonstrating strong business expansion.
- Profitability – PAT increased from INR 40 Cr in 2021 to INR 207 Cr in 2024, with net profit margins rising to 7.52% in 2024.
- Operational Performance – EBITDA surged from INR 72 Cr in 2021 to INR 300 Cr in 2024, while OPM improved to 10.89% in 2024.
- Earnings Per Share (EPS) – EPS witnessed substantial growth from INR 26.67 in 2021 to INR 140.82 in 2024.
- Asset Expansion – Total assets increased from INR 1512 Cr in 2021 to INR 2222 Cr in 2024, driven by higher trade receivables and inventory.
- Debt Position – Borrowings rose from INR 173 Cr in 2021 to INR 410 Cr in 2024, indicating capital utilization for expansion.
- Reserves Strength – Reserves grew from INR 1079 Cr in 2021 to INR 1384 Cr in 2024, reflecting financial stability and retained earnings growth.
Pros
- Market Leadership – HEIL has a strong presence in rolling stock and foundry, securing major railway contracts domestically and internationally.
- Revenue & Profit Growth – Consistent growth in revenue and PAT indicates financial strength and business expansion.
- Diverse Product Portfolio – The company operates in multiple industries, reducing dependency on a single revenue source.
Cons
High Borrowings – Debt increased significantly, which may impact financial flexibility in the future.
Operational Costs – Rising material and employee expenses affect profit margins despite revenue growth.
Market Dependency – Heavy reliance on railway contracts and exports may expose HEIL to sector-specific risks.
Key Details
| Share Name | Particulars |
|---|---|
| Hindusthan Engineering Pvt. | 1470.00 |
| Ltd. Unlisted | Per Equity Share |
| Lot Size | 100 Shares |
| 52 Week High | ₹1750 |
| 52 Week Low | ₹850 |
| Depository | NSDL & CDSL |
| PAN Number | AAACH8505Q |
| ISIN Number | INE665C01026 |
| CIN | U93000WB1998PLC086303 |
| RTA | C.B. Management Services |
| Fundamentals | Value |
|---|---|
| Market Cap (in cr.) | 2161.90 |
| P/E Ratio | 10.44 |
| P/B Ratio | 1.53 |
| Debt to Equity | 0.29 |
| ROE (%) | 15% |
| Book Value | 957.86 |
| EPS | 140.82 |
| Face Value | 10 |
| Total Shares | 14706776 |
Financials
| P&L Statement | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 2754 | 1756 | 943 |
| Cost of Material Consumed | 1947 | 1267 | 528 |
| Gross Margins (%) | 29.3 | 27.85 | 44.01 |
| Change in Inventory | -72 | -60 | 40 |
| Employee Benefit Expenses | 144 | 140 | 118 |
| Other Expenses | 435 | 289 | 190 |
| EBITDA | 300 | 120 | 67 |
| OPM (%) | 10.89 | 6.83 | 7.1 |
| Other Income | 42 | 27 | 28 |
| Finance Cost | 31 | 19 | 10 |
| D&A | 36 | 34 | 35 |
| EBIT | 264 | 86 | 32 |
| EBIT Margins (%) | 9.59 | 4.9 | 3.39 |
| PBT | 276 | 94 | 50 |
| PBT Margins (%) | 10.02 | 5.35 | 5.3 |
| Tax | 69 | 24 | 11 |
| PAT | 207 | 70 | 39 |
| NPM (%) | 7.52 | 3.99 | 4.14 |
| EPS | 140.82 | 47.62 | 26 |
| Ratio | FY24 | FY23 | FY22 |
|---|---|---|---|
| Operating Margin | 11% | 6% | 6% |
| Net Profit Margin | 7% | 4% | 4% |
| Return on Equity | 15% | 6% | 3% |
| Debt-Equity | 0.29 | 0.24 | 0.13 |
| Current Ratio | 1.25 | 1.67 | 2.25 |
| Dividend Payout | 0% | 0% | 0% |
| Company | Hindusthan Engineering | Titagarh Rail Systems | Texmaco Rail & Engineering |
|---|---|---|---|
| Market Cap (₹ Crores) | 2463 | 10702 | 5830 |
| Profitability Margin (%) | 7.00% | 7.00% | 3.00% |
| ROCE (%) | 21.00% | 25.00% | 11.00% |
| ROE (%) | 15.00% | 18.00% | 6.00% |
| D/E Ratio | 0.29 | 0.21 | 0.35 |
| P/E Ratio | 11.88 | 36.7 | 23 |
| P/B Ratio | 1.76 | 4.55 | 2.17 |
| Book Value per Share (₹) | 951.13 | 175 | 67.1 |
| Assets | 2024 | 2023 | 2022 |
|---|---|---|---|
| Fixed Assets | 331 | 309 | 301 |
| CWIP | 16 | 49 | 32 |
| Investments | 107 | 112 | 112 |
| Trade Receivables | 251 | 221 | 175 |
| Inventory | 697 | 370 | 246 |
| Other Assets | 820 | 745 | 644 |
| Total Assets | 2222 | 1806 | 1510 |
| Liabilities | 2024 | 2023 | 2022 |
|---|---|---|---|
| Share Capital | 14.7 | 14.7 | 15 |
| FV | 10 | 10 | 10 |
| Reserves | 1384 | 1192 | 1121 |
| Borrowings | 410 | 284 | 147 |
| Trade Payables | 280 | 161 | 96 |
| Other Liabilities | 133.3 | 154.3 | 131 |
| Total Liabilities | 2222 | 1806 | 1510 |
Promoters or Management
| Name | Designation | Experience | LinkedIn Profile |
|---|---|---|---|
| Shri Vikram Aditya Mody | Chairman | 20+ | — |
| Shri Satish Kapur | Director | 20+ | — |
