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Hind Rectifiers share price & results

Hind Rectifiers Limited· Capital Goods· Industrials

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Mumbai maker of traction transformers, converters and power electronics for Indian Railways and industry.

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Reported

The figures, each with its period

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

MetricValueChangeBasisPeriodNote
Revenue258 ₹ crore+20.3% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin5.1 %−6.2 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit6.5 ₹ crore−49.1% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity21.30 %+0.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-1.10 %−3.2 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)41.95 %+26.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

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

Guidance

What management said, and what became of it

1 of 2 judged targets kept · 10 open · verdicts reflect calls analysed to Q1 FY27.

Hind Rectifiers Limited management guidance track record on Inve: 12 targets tracked across analysed earnings calls (1 achieved, 1 missed, 10 open).

TargetOriginal wordingSaidLatest callVerdict
EBITDA MarginEBITDA in the range of mid-teens to late teens... in the next few years
Call transcript, Q4 FY25 · 6 May 2025		Q4 FY25Q1 FY27:Consolidated EBITDA margin at 5.4% remains significantly below the 'mid-to-late teens' target. Management expects the drag from Elventive to continue for another 3-5 quarters before breakeven.
Call transcript, Q1 FY27 · 12 Aug 2026		At Risk
Revenue Growthtarget 30% growth conservatively
Call transcript, Q4 FY25 · 6 May 2025		Q4 FY25Q4 FY26:Achieved 44.8% standalone and 52.5% consolidated revenue growth for FY26, exceeding the 30% target. Reiterated 30% growth target for FY27 on a standalone basis.
Call transcript, Q4 FY26 · 18 May 2026		Achieved
Order Book Growth30% more for the year-end order book from current levels
Call transcript, Q2 FY26 · 7 Nov 2025		Q2 FY26Q4 FY26:Order book at year-end was INR 845.5 crores, a decline from previous quarters and a miss on the guided 30% growth target.
Call transcript, Q4 FY26 · 18 May 2026		Missed

Source: Inve Guidance Tracker for Hind Rectifiers Limited · to Q1 FY27

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.

1 of Hind Rectifiers Limited's 12 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 9 more targets are in the full ledger.

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Price

₹995.2 +3.03% · +₹29.3

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

Performance −37.9% 1Y

₹1.0k₹1.5kOct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 12 Feb 2026Q4 FY26 — 18 May 2026Q1 FY27 — 12 Aug 2026

1Y: ₹1,603 on 24 Oct 2025 → ₹995.2. High ₹1,870.4 (3 Nov 2025), low ₹660.1 (30 Mar 2026).

Previous close
₹965.9
Market cap
₹3.4k Cr
52-week range
₹660.1 – ₹1,870.4
One year
−40.87%
Price to earnings (TTM to Jun 2026)
87.39×
Return on equity (TTM to Jun 2026)
21.30%

Overview

Symbol
NSE:HIRECT
Industry
Industrials
Exchange
NSE
Currency
INR

What Hind Rectifiers Limited does

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

Hind Rectifiers (rebranding as HIRECT) designs and manufactures power-conversion and traction electronics — transformers, converters, motors, rectifiers and control systems — used mainly in Indian Railways' locomotives and coaches, alongside electrostatic-precipitator (ESP) rectifiers and industrial power-supply products for sectors such as power generation, cement, chemicals, oil & gas and defence. It runs two manufacturing plants (Sinnar and Satpur, Maharashtra) and two R&D centres (Mumbai and Hyderabad), and has backward-integrated into copper-conductor manufacturing used as a raw material for transformers. In FY26 it acquired France-based Elventive France (formerly BeLink Solutions), a robotics, EMS and power-electronics R&D firm, to build a European manufacturing and R&D base serving automotive, defence, aerospace and industrial customers. The company describes itself as evolving from a component supplier into a systems provider, developing indigenous locomotive propulsion and brake systems in-house.

Segments

  • Railway Transformer
  • Railway Electromechanical
  • Railway Electronics
  • Industrial Products
  • Spares & Services
Manufacturing plants
2 (Sinnar and Satpur, Maharashtra)
R&D centres
2 (Mumbai and Hyderabad, 150+ engineers)
Countries exported to
30+
Client network
500+ clients
Office locations
6
Global accreditations held
8
Founded 1958Headquarters Mumbai, MaharashtraEmployees 745 (May 2026) Company website

How the price took the results

close before → close after

Q1 FY27
+1.6%
12 Aug
Q4 FY26
−3.8%
18 May
Q3 FY26
−3.0%
12 Feb
Q2 FY26
−5.0%
7 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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