About
Hind Rectifiers Limited designs, develops, manufactures, and markets power semiconductors, power electronic equipment, and railway transportation equipment in India and internationally. The company provides traction and aux transformers, IGBT propulsion systems, auxiliary converters and battery chargers, on-board DC rectifiers, traction motors, and electrical switch boards and railway equipment, as well as electronic safety protection devices and rolling stock HVAC systems for railway. It also offers industrial electrostatic precipitator systems, rectifiers, active harmonic filters, and DC air cored reactors. In addition, the company provides repairing and servicing, AMC and erectioning, and commissioning services. Its products are used in electro static precipitator, electro chemical, and other applications. Hind Rectifiers Limited was incorporated in 1958 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap4,325 Cr
P/E110.00
Div Yield0.11 %
Book Value₹60.70
52w High₹1,400.00
52w Low₹565.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 258.45 | 279.82 | 277.39 | 227.15 | 214.77 | 185.05 | 168.94 | 165.85 | 135.53 | 151.36 | 136.63 |
| Expenses | 245.23 | 271.39 | 251.84 | 201.27 | 190.55 | 165.15 | 151.31 | 147.54 | 121.05 | 137.86 | 123.15 |
| Operating Profit | 13.22 | 8.43 | 25.55 | 25.88 | 24.22 | 19.90 | 17.63 | 18.31 | 14.48 | 13.50 | 13.48 |
| OPM % | 5.12 | 3.01 | 9.21 | 11.39 | 11.28 | 10.75 | 10.44 | 11.04 | 10.68 | 8.92 | 9.87 |
| Other Income | 7.86 | 0.36 | -1.07 | 0.13 | 0.23 | 0.34 | 0.50 | 0.13 | 0.51 | 0.38 | -6.91 |
| Depreciation | 4.71 | 3.85 | 4.45 | 2.81 | 2.73 | 2.22 | 2.15 | 2.11 | 2.01 | 2.00 | 2.02 |
| Interest | 4.74 | 4.09 | 4.71 | 3.56 | 3.62 | 4.02 | 2.52 | 3.40 | 3.26 | 4.13 | 3.23 |
| Profit before tax | 11.63 | 0.85 | 15.32 | 19.64 | 18.10 | 14.00 | 13.46 | 12.93 | 9.72 | 7.75 | 1.32 |
| Tax % | 44.02 | 285.88 | 17.10 | 25.05 | 29.50 | 28.71 | 25.63 | 21.19 | 28.70 | 33.81 | -14.39 |
| Net Profit | 6.50 | -1.58 | 12.70 | 14.72 | 12.77 | 9.99 | 10.01 | 10.19 | 6.93 | 5.12 | 1.52 |
| EPS in Rs | 2.74 | 1.31 | 3.69 | 4.28 | 3.72 | 2.91 | 2.92 | 2.97 | 2.02 | 1.49 | 0.44 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| Sales | 999.00 | 655.00 | 518.00 |
| Expenses | 914.00 | 585.00 | 473.00 |
| Operating Profit | 85.00 | 71.00 | 45.00 |
| OPM % | 9.00 | 11.00 | 9.00 |
| Other Income | 0.00 | 1.00 | -6.00 |
| Interest | 17.00 | 14.00 | 13.00 |
| Depreciation | 14.00 | 8.00 | 7.00 |
| Profit before tax | 54.00 | 50.00 | 18.00 |
| Tax % | 28.00 | 26.00 | 29.00 |
| Net Profit | 39.00 | 37.00 | 13.00 |
| EPS in Rs | 13.10 | 10.82 | 3.65 |
| Dividend Payout % | 11.00 | 9.00 | 16.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| Equity Capital | 7.00 | 3.00 | 3.00 |
| Reserves | 202.00 | 156.00 | 121.00 |
| Borrowings | 245.00 | 164.00 | 135.00 |
| Other Liabilities | 209.00 | 93.00 | 71.00 |
| Total Liabilities | 662.00 | 417.00 | 331.00 |
| Fixed Assets | 196.00 | 107.00 | 90.00 |
| CWIP | 10.00 | 12.00 | 22.00 |
| Investments | 0.00 | 0.00 | 0.00 |
| Other Assets | 455.00 | 298.00 | 219.00 |
| Total Assets | 662.00 | 417.00 | 331.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| Cash from Operating Activity | 86.00 | 36.00 | 34.00 |
| Cash from Investing Activity | -90.00 | -25.00 | -19.00 |
| Cash from Financing Activity | 8.00 | -11.00 | -14.00 |
| Net Cash Flow | 4.00 | 0.00 | 0.00 |
| Free Cash Flow | -12.00 | 14.00 | 20.00 |
| CFO/OP % | 116.00 | 62.00 | 76.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| Debtor Days | 90.00 | 61.00 | 63.00 |
| Inventory Days | 74.00 | 92.00 | 92.00 |
| Days Payable | 59.00 | 46.00 | 45.00 |
| Cash Conversion Cycle | 105.00 | 107.00 | 110.00 |
| Working Capital Days | 15.00 | 25.00 | 24.00 |
| ROCE % | 19.00 | 22.00 | — |
Corporate Actions
25 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 04 Aug 2026 | 04 Aug 2026 | — | 1.40 | |
| Bonus | 27 Mar 2026 | 27 Mar 2026 | 1:1 | — | |
| Dividend | 22 Jul 2025 | 22 Jul 2025 | — | 2.00 | |
| Dividend | 25 Jul 2024 | — | — | 1.20 | |
| Dividend | 01 Aug 2022 | — | — | 0.40 | |
| Dividend | 04 Aug 2021 | — | — | 0.40 | |
| Dividend | 07 Sep 2020 | — | — | 0.80 | |
| Dividend | 30 Jul 2019 | — | — | 0.40 | |
| Other | 01 Aug 2018 | — | — | — | Annual General Meeting |
| Rights | 17 Oct 2017 | 18 Oct 2017 | 1:10 | — | |
| Other | 17 Oct 2017 | 18 Oct 2017 | — | — | Right Issue of Equity Shares |
| Other | 24 Aug 2017 | — | — | — | Annual General Meeting |
| Other | 21 Jul 2016 | — | — | — | Annual General Meeting |
| Other | 07 Aug 2015 | — | — | — | Annual General Meeting |
| Dividend | 06 Aug 2014 | — | — | 0.20 | |
| Dividend | 02 Aug 2013 | — | — | 1.60 | |
| Dividend | 31 Jul 2012 | — | — | 1.60 | |
| Dividend | 29 Jul 2011 | — | — | 1.50 | |
| Dividend | 04 Aug 2010 | — | — | 1.40 | |
| Dividend | 31 Aug 2009 | — | — | 2.00 | |
| Bonus | 06 Oct 2008 | 07 Oct 2008 | 1:1 | — | |
| Dividend | 18 Aug 2008 | — | — | 2.00 | |
| Split | 28 Aug 2007 | 04 Sep 2007 | 10:2 | — | |
| Dividend | 20 Jul 2007 | — | — | 10.00 | NSE/BSE dividend mismatch: NSE=2.0; BSE=10.0 |
| Dividend | 20 Jul 2007 | — | — | 2.00 | NSE/BSE dividend mismatch: NSE=2.0; BSE=10.0 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update2 Sep 2025 from crisil
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Rating update6 Jan 2025 from crisil
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Rating update10 Jul 2024 from crisil
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Rating update18 Jan 2024 from crisil
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Rating update30 Jun 2023 from crisil
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Rating update13 Feb 2023 from crisil