HERCULES
Hercules Investments financials
- Market cap
- ₹382 Cr
- Sector
- Capital Goods
What Hercules Investments Limited does
Hercules Hoists Limited (being renamed Hercules Investments Limited/Hercules Securities Limited) functions as a Core Investment Company (unregistered), engaged primarily in holding equity investments in Bajaj group companies rather than running its own trading operations. Its income comes from dividends received on these holdings, not from sale of goods or services — the company reported no revenue from operations in FY2024-25. Pursuant to an NCLT (Mumbai) order dated 2 August 2024 approving a scheme of demerger, the company's hoists-manufacturing business, along with its related assets and liabilities, was transferred to its wholly-owned subsidiary, Indef Manufacturing Limited. As of the FY25 balance sheet date, the company itself has no subsidiaries, associate companies, or joint ventures.
Segments
- Investment holding
- Business classification
- Core Investment Company (unregistered)
- Subsidiaries / associates / JVs
- None (as on 31 March 2025)
- Investee group
- Bajaj group companies (equity holdings, dividend income only, no consolidated operations)
- Former manufacturing business
- Hoists business demerged into wholly-owned subsidiary Indef Manufacturing Limited (NCLT order dated 2 Aug 2024)
Quarterly results
Q4 FY26: revenue up 81.2% against the same quarter last year.
| Line item | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 38 | 0 | 0 | 0 | 0 −100% | 0 | 3 | 0 +81% |
| EBITDA | 6 | -0 | -0 | 0 | -0 −102% | -0 −9% | 3 +2820% | -0 |
| Net profit | 6 | 3 | 3 | 0 | -0 −100% | 5 +96% | 3 −4% | -0 |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −27.1% 1Y
1Y: ₹218.5 on 31 Dec 2024 → ₹159.32. High ₹228.69 (3 Jan 2025), low ₹130.37 (17 Mar 2025).
Financials, as filed
Revenue fell 72.2% a year over 3 years, FY23 to FY26. Operating margin widened to 72.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹151 Cr | ₹180 Cr | ₹38 Cr | ₹3 Cr |
| Operating profit | ₹17 Cr | ₹29 Cr | ₹5 Cr | ₹2 Cr |
| Operating margin | 11.1% | 16.2% | 13.9% | 72.0% |
| Interest | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹4 Cr | ₹4 Cr | ₹1 Cr | ₹0 Cr |
| Net profit | ₹103 Cr | ₹36 Cr | ₹11 Cr | ₹8 Cr |
| Net margin | 68.5% | 20.0% | 29.6% | 237.5% |
| Cash from operations | ₹12 Cr | ₹28 Cr | ₹8 Cr | ₹-1 Cr |
| Free cash flow | ₹87 Cr | ₹25 Cr | ₹8 Cr | ₹-1 Cr |
| ROCE | — | 6.0% | — | — |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Reserves | ₹491 Cr | ₹616 Cr | ₹703 Cr | ₹945 Cr | ₹859 Cr | ₹688 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹7 Cr | ₹5 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹31 Cr | ₹60 Cr | ₹60 Cr | ₹97 Cr | ₹91 Cr | ₹62 Cr |
| Total liabilities | ₹525 Cr | ₹679 Cr | ₹774 Cr | ₹1.1k Cr | ₹954 Cr | ₹754 Cr |
| Fixed assets | ₹33 Cr | ₹29 Cr | ₹36 Cr | ₹34 Cr | ₹0 Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹422 Cr | ₹573 Cr | ₹662 Cr | ₹944 Cr | ₹951 Cr | ₹753 Cr |
| Other assets | ₹71 Cr | ₹77 Cr | ₹76 Cr | ₹73 Cr | ₹2 Cr | ₹1 Cr |
| Total assets | ₹525 Cr | ₹679 Cr | ₹774 Cr | ₹1.1k Cr | ₹954 Cr | ₹754 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 11% to 21,278.
- Promoters
- 69.6%
- Public
- 30.4%
Since Jun 2025
- Promoters 0.00 pp
- FIIs 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 69.6%, FIIs 0.1%, Public 30.3%.Dec '23: Promoters 69.6%, FIIs 0.1%, Public 30.3%.Mar '24: Promoters 69.6%, FIIs 1.9%, Public 28.5%.Jun '24: Promoters 69.6%, FIIs 1.7%, Public 28.7%.Sep '24: Promoters 69.6%, FIIs 1.7%, Public 28.7%.Dec '24: Promoters 69.6%, Public 30.4%.Mar '25: Promoters 69.6%, FIIs 0.1%, Public 30.3%.Jun '25: Promoters 69.6%, Public 30.4%.Sep '25: Promoters 69.6%, Public 30.4%.Dec '25: Promoters 69.6%, Public 30.4%.Mar '26: Promoters 69.6%, Public 30.4%.Jun '26: Promoters 69.6%, Public 30.4%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Hercules Investments Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Bajaj Holdings And Investment Limited | 19.53% | unchanged |
| Jamnalal Sons Pvt Ltd | 19.35% | unchanged |
| Bajaj Sevashram Private Ltd | 5.84% | unchanged |
| Heinrich De Fries Gmbh | 5.00% | unchanged |
| Bachhraj Factories Private Limited | 3.86% | unchanged |
| Kiran Bajaj | 3.55% | unchanged |
| Niraj Bajaj | 3.42% | unchanged |
| Devaj Ravi Jhunjhunwala | 3.26% | unchanged |
| Shekhar Bajaj | 2.83% | unchanged |
| Vanraj Anant Bajaj | 1.73% | unchanged |
| Pooja Bajaj | 1.73% | unchanged |
| Niraj Bajaj Trust | 1.73% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Hercules Investments Limited
Guides on how to read this kind of business and the numbers that matter.