Hind Rectifiers Ltd (HIRECT) — shareholding pattern, promoter holding, financials and share price
About Hind Rectifiers Ltd (HIRECT)
Hind Rectifiers Ltd operates in the Industrial Products industry, within the Capital Goods sector. It trades on the NSE as HIRECT and on the BSE under scrip code 504036. Its ISIN is INE835D01023.
HRL manufactures power electronic equipment such as converters, inverters, propulsion system, rectifiers and railway transformation equipment like traction transformer for locomotive, motors, various types of panels for locomotive switch board cabinet, regulated battery charger, inverters and modular pantry. The manufacturing facilities are in Mumbai and Nasik, Maharashtra, and Dehradun, Uttarakhand, and its registered office is in Mumbai.
Hind Rectifiers Limited (Hirect) is a 67-year-old Indian engineering firm that designs, develops, and manufactures power electronic equipment and railway propulsion and traction systems, including traction transformers, IGBT converters, rectifiers, propulsion systems, HVAC and auxiliary converters for locomotives and coaches, with two manufacturing plants, two R&D centers and exports to multiple geographies.
Q3 FY26 and 9M FY26 delivered a sharp performance: consolidated Q3 revenue rose 64.2% YoY to Rs.277.4 crore and 9M revenue climbed 52.9% YoY to Rs.719.3 crore, while consolidated EBITDA expanded materially (44.9% YoY in Q3) despite margin pressure from commodity and ramp investments, producing the company’s highest-ever quarterly revenue in Q3 FY26.
Listed peers in Industrial Products: Pitti Engineering Ltd, Shanthi Gears Ltd, GMM Pfaudler Ltd, Jash Engineering Ltd, Windsor Machines Ltd, Spectrum Electrical Industries Ltd.
Valuation & Returns
10 Jul 2026At ₹1,052 a share on 10 Jul 2026, Hind Rectifiers Ltd (HIRECT) was valued at a price-to-earnings ratio of 93.68x against an industry P/E of 48.01x and a price-to-book of 22.62x on a book value of ₹46.51 per share as of Mar 2025. Solomo computes return on equity of 24.14% and return on capital employed of 21.56% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 93.68x
- Industry P/E
- 48.01x
- P/B
- 22.62x
- EPS (TTM)
- ₹11.23
- Book value / share
- ₹46.51
- ROE
- 24.14%
- ROCE
- 21.56%
- ROA
- 9.25%
- Debt / equity
- 1.03x
- Dividend yield
- 0.19%
- EBITDA margin
- 8.38%
- 52-week range
- ₹565.2 – ₹1,212.1
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, Hind Rectifiers Ltd (HIRECT) reported revenue of ₹999 crore, net profit of ₹39 crore and earnings per share of ₹13.1. That compares with revenue of ₹655 crore and net profit of ₹37 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹279.82 crore and net profit ₹-1.59 crore (consolidated).
| Metric | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue (₹ cr) | 518 | 655 | 999 |
| Net profit (₹ cr) | 13 | 37 | 39 |
| EPS (₹) | 3.65 | 10.82 | 13.1 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 23.30% | 16.95% | 20.77% | 26.63% |
| Profit growth | - | 15.06% | 68.44% | 196.64% |
| Stock price CAGR | 42% | 72% | 107% | 98% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 43.92% of Hind Rectifiers Ltd (HIRECT) (down 0.01 pp QoQ), foreign institutional investors (FII) hold 6.57% and domestic institutional investors (DII) hold 0.2%. Promoters have pledged 6.8% of their holding. Market capitalisation was ₹3,616 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2001.
Largest disclosed public shareholders in Jun 2026: Unclaimed or Suspense or Escrow Account 7.35%, BTR INDUSTRIES LTD 6.98%, CASSINI PARTNERS L.P. MANAGED BY HABROK 2.94%, HABROK INDIA MASTER LP 2.5%, NIRAJ BAJAJ 1.75%, MUKUL MAHAVIR AGRAWAL 1.45%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 43.92% | 6.8% | 6.57% | 0.2% | 56.08% |
| Mar 2026 | 43.93% | 6.8% | 6.38% | 0.13% | 56.07% |
| Dec 2025 | 43.93% | 6.8% | 6.38% | 0.13% | 56.07% |
| Sep 2025 | 43.93% | 6.8% | 6.64% | 0.13% | 56.07% |
| Jun 2025 | 43.98% | - | 6.3% | 0.07% | 56.02% |
| Mar 2025 | 43.98% | - | 6.03% | 0.02% | 56.02% |
| Dec 2024 | 43.98% | - | 6.28% | 0.09% | 56.02% |
| Sep 2024 | 44.05% | - | 5.97% | 0.02% | 55.95% |