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Hi-Green Carbon share price & results

Hi-Green Carbon· Utilities

Results to
Mar 2026
Latest analysed call
Q2 FY26
Ownership as of
Sept 2026

Rajasthan/Maharashtra-based tyre recycler that uses proprietary continuous pyrolysis technology to convert end-of-life tyres into recovered carbon black, pyrolysis oil and sodium silicate.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue55.0 ₹ crore+5.8% YoYQuarterly, as filedQuarter to Mar 2026Revenue from operations as filed.
Operating margin15.0 %−6.0 pts YoYOperating profit / revenueQuarter to Mar 2026For the quarter; a change is in percentage points.
Net profit2.0 ₹ crore−60.0% YoYQuarterly, as filedQuarter to Mar 2026Profit after tax as filed.
Return on equityUnavailable−6.3 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.
Free cash flow margin-26.62 %+15.6 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)Unavailable+4.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM · period unavailableNot in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Mar 2026

Guidance

What management said, and what became of it

1 of 1 judged target kept · 6 open · verdicts reflect calls analysed to Q2 FY26.

Hi-Green Carbon management guidance track record on Inve: 7 targets tracked across analysed earnings calls (1 achieved, 0 missed, 6 open).

TargetOriginal wordingSaidLatest callVerdict
Capacity Utilization Ramp-up TimeHardly take 3 - 4 months to utilize our 70-80% capacity in a new plants.
Call transcript, Q4 FY25 · 12 Jun 2025		Q4 FY25Q2 FY26:Maharashtra pyrolysis plant achieved 75% utilization within the guided timeframe.
Call transcript, Q2 FY26 · 18 Nov 2025		Achieved
EBITDA / Operating MarginStable around 20% to 25% in between on a long-term basis.
Call transcript, Q4 FY25 · 12 Jun 2025		Q4 FY25Q2 FY26:H1 FY26 operating margin dropped to 15%. Management reiterated the 20% target for the full year, but current performance is lagging.
Call transcript, Q2 FY26 · 18 Nov 2025		At Risk
FY26 Full Year RevenueRevenue could be around 130 to 140 crores.
Call transcript, Q2 FY26 · 18 Nov 2025		Q2 FY26Q2 FY26:H1 FY26 achieved ₹69 Cr; H2 target is ~₹80 Cr. On track to hit ₹130-140 Cr.
Call transcript, Q2 FY26 · 18 Nov 2025		New

Source: Inve Guidance Tracker for Hi-Green Carbon · to Q2 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

6 of Hi-Green Carbon's 7 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 4 more targets are in the full ledger.

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Price

₹138.1 −3.22% · −₹4.6

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −30.2% 1Y

₹100₹120₹140₹160₹180₹200Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 18 Nov 2025

1Y: ₹197.9 on 24 Oct 2025 → ₹138.1. High ₹198 (28 Oct 2025), low ₹103.5 (30 Mar 2026).

Previous close
₹142.7
Market cap
₹345 Cr
52-week range
₹103.5 – ₹198
One year
−29.27%
Price to earnings (FY ending Mar 2026)
72.78×
Return on equity (FY ending Mar 2026)
5.36%

Overview

Symbol
NSE:HIGREEN
Sector
Utilities
Exchange
NSE
Currency
INR

What Hi-Green Carbon does

Based on the company's own presentations, annual report and earnings calls.

Hi-Green Carbon recycles end-of-life tyres (ELTs) using proprietary continuous pyrolysis technology at plants in Bhilwara (Rajasthan) and Dhule (Maharashtra), with a third plant at Dhar (Madhya Pradesh) commissioned in 2026. The pyrolysis process converts scrap tyres into Recovered Carbon Black (rCB), Tyre Pyrolysis Oil (TPO), scrap steel and syngas; the syngas is further used to manufacture Sodium Silicate. These outputs are sold to industries such as rubber and tyre manufacturing, plastics, paints, textiles, detergents, and as furnace/boiler/refinery fuel. The company has backward-integrated into crumb rubber manufacturing via its subsidiary Samsara Recycling and also offers renewable-energy equipment (gasification units, hot air generators, pyrolysis plants) inherited from the Radhe Group's engineering legacy.

Segments

  • Recovered Carbon Black (rCB)
  • Pyrolysis Oil (TPO)
  • Sodium Silicate
  • Renewable Technology Solutions
Manufacturing plants
3 locations — Bhilwara (Rajasthan) and Dhule (Maharashtra) operational; Dhar (Madhya Pradesh) commissioned 2026
Installed tyre-pyrolysis capacity
72,000 MTPA (300 TPD) across 3 plants
Waste tyre processed (H1 FY26)
17,400 metric tons at 75-76% capacity utilisation (Rajasthan & Maharashtra plants)
Global customer base
200+ customers worldwide
Quality/sustainability certifications
ISCC EU, ISCC+, REACH, GMP, ISO 14001, ISO 9001, ISO 45001
Captive solar power
529 KW solar plant at Rajasthan (Bhilwara) unit
Founded 2011Headquarters Rajkot, Gujarat Company website

How the price took the results

close before → close after

Q2 FY26
+0.2%
18 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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