Hindustan Hardy Ltd (505893)
Q2 FY27 results
📅 Next results: 05 Nov 2026 (board meeting)Hindustan Hardy Ltd's board meets on 5 Nov 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q1 FY27, Hindustan Hardy's revenue was ₹24.3 Cr (-9.0% year on year, -17.8% on the previous quarter), and net profit ₹1.2 Cr (-60.5% year on year); the operating margin was 7.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹24.3 | -9.0% | -17.8% |
| Operating profit | ₹1.9 | -55.5% | -31.2% |
| Net profit | ₹1.2 | -60.5% | -37.4% |
| EPS (₹) | 7.85 | -60.5% | -37.5% |
| Operating margin | 7.7% | — | — |
📢 Recent Corporate Announcements
Hindustan Hardy Ltd has scheduled its 44th Annual General Meeting (AGM) for Thursday, September 10, 2026, at 2:30 p.m. The company has fixed Thursday, September 3, 2026, as the record date for the purpose of the AGM and dividend eligibility. If approved by shareholders at the AGM, the dividend will be disbursed on Tuesday, September 15, 2026. The specific dividend amount per share was not disclosed in this filing.
- 44th Annual General Meeting to take place on September 10, 2026, at 2:30 p.m.
- Record date for AGM and dividend set for September 3, 2026
- Proposed dividend payment scheduled for September 15, 2026, subject to AGM approval
Hindustan Hardy Limited has scheduled its 44th Annual General Meeting (AGM) for Thursday, September 10, 2026, at 2:30 PM. The company fixed September 03, 2026, as the record date for determining shareholder entitlement to dividend and AGM participation. If approved by shareholders at the AGM, the dividend will be paid on September 15, 2026. The specific dividend amount per share was not disclosed in the filing.
- 44th Annual General Meeting scheduled for Thursday, September 10, 2026 at 2:30 PM
- Record date fixed as Thursday, September 03, 2026 for AGM and dividend eligibility
- Dividend payment date scheduled for Tuesday, September 15, 2026, subject to member approval
Hindustan Hardy Ltd has scheduled its 44th Annual General Meeting for Thursday, September 10, 2026, via video conferencing. The company has fixed September 3, 2026, as the record date for determining shareholder eligibility for both the AGM and dividend. If approved by shareholders at the meeting, the dividend will be disbursed on Tuesday, September 15, 2026. Key agenda items include adopting FY26 audited accounts and the reappointment of director Ms. Arati Sanjaya Saran.
- 44th Annual General Meeting to be held on Thursday, September 10, 2026 at 2:30 p.m. IST via VC/OAVM
- Record date fixed as Thursday, September 3, 2026 for AGM attendance and dividend entitlement
- Dividend payment scheduled for Tuesday, September 15, 2026, subject to shareholder approval at the AGM
- Reappointment of Ms. Arati Sanjaya Saran (holding 150 equity shares) retiring by rotation
Hindustan Hardy Ltd has released its 44th Integrated Annual Report for FY 2025-26 and scheduled its Annual General Meeting for September 10, 2026. The company confirmed a recommended final dividend of ₹2.80 per equity share (28% of face value ₹10), involving a total payout of ₹41.96 Lakhs. The record date for dividend entitlement is set for September 3, 2026, with payment scheduled for September 15, 2026, subject to shareholder approval. The annual report also highlights FY26 export earnings (FOB value) of ₹2,586.83 Lakhs compared to ₹2,398.99 Lakhs in FY25.
- Recommended final dividend of ₹2.80 per equity share (28%) with total outflow of ₹41.96 Lakhs.
- Record date for dividend entitlement fixed as September 3, 2026; payment date is September 15, 2026.
- 44th Annual General Meeting to be held via video conferencing on September 10, 2026.
- FOB value of export earnings rose to ₹2,586.83 Lakhs in FY26 from ₹2,398.99 Lakhs in FY25.
- Reported key balance sheet metrics include an ROCE of 32.26% and ROE of 25.06% for FY26.
Hindustan Hardy reported a weak set of numbers for Q1 FY27, with Net Profit falling 60.5% YoY to ₹1.18 cr from ₹2.98 cr. Revenue from operations declined 8.9% YoY to ₹24.35 cr, also showing a sharp sequential drop from ₹29.62 cr in Q4 FY26. Profitability was severely impacted as total expenses remained stagnant at ₹23 cr despite the lower top-line, leading to a significant contraction in PBT margins from 15.2% to 6.6%. Consequently, EPS for the quarter fell to ₹7.85 from ₹19.90 in the same period last year.
- Net Profit after tax fell 60.5% YoY to ₹1.18 cr compared to ₹2.98 cr in June 2025
- Revenue from operations decreased 8.9% YoY to ₹24.35 cr from ₹26.75 cr
- Profit Before Tax (PBT) margin contracted sharply to 6.6% from 15.2% YoY
- Earnings Per Share (EPS) dropped to ₹7.85 from ₹19.90 in the year-ago quarter
- Total expenses remained nearly flat at ₹23.00 cr despite the revenue decline
Hindustan Hardy reported a weak set of numbers for Q1 FY27, with Net Profit falling 60.4% YoY to ₹1.18 cr from ₹2.98 cr. Revenue from operations declined 8.98% YoY to ₹24.35 cr, while sequential revenue fell 17.8% compared to Q4 FY26. The profitability was severely impacted by a contraction in margins, with Profit Before Tax (PBT) dropping to ₹1.62 cr from ₹4.06 cr in the year-ago period. Consequently, EPS for the quarter plummeted to ₹7.85 from ₹19.90 YoY.
- Net Profit after Tax fell 60.4% YoY to ₹1.18 cr in Q1 FY27.
- Revenue from operations decreased 8.98% YoY to ₹24.35 cr.
- Profit Before Tax (PBT) margin contracted to 6.6% from 15.2% in the same quarter last year.
- Other expenses rose to ₹5.58 cr, accounting for 22.9% of revenue compared to 18.3% YoY.
- Earnings Per Share (EPS) dropped to ₹7.85 from ₹19.90 in Q1 FY26.
Hindustan Hardy Ltd has scheduled a board meeting for August 5, 2026, to consider and approve the unaudited financial results for the quarter ended June 30, 2026. The company, which operates in the auto components sector with a market cap of ₹123 Cr, reported a TTM revenue of ₹109 Cr and a PAT of ₹8 Cr. The trading window for insiders has been closed since July 1, 2026, and will remain so until August 7, 2026. Investors will be monitoring if the company can maintain its OPM of 11.1% and ROCE of 28.0% in the new fiscal year.
- Board meeting scheduled for August 5, 2026, to approve Q1 FY2027 results.
- Trading window for insiders closed from July 1, 2026, to August 7, 2026.
- Company reported a TTM revenue of ₹109 Cr and TTM PAT of ₹8 Cr.
- Previous year's corresponding quarter (June 2025) saw a net profit of ₹2.98 Cr on revenue of ₹26.75 Cr.
Financial Performance
Revenue Growth by Segment
The company operates in a single business segment. Total revenue from operations grew 20.29% YoY, reaching INR 81.97 Cr in FY 2024-25 compared to INR 68.14 Cr in FY 2023-24. Growth was driven by steady sales increases throughout the year, peaking in Q4 due to both export and domestic demand.
Geographic Revenue Split
Domestic sales contribute approximately 70% of revenue, while exports account for around 30% of total revenue. Export demand is a significant driver of growth, though it has led to a slight increase in the debtors collection period to 90 days.
Profitability Margins
Profitability improved across all metrics: Gross/Operating Profit Margin rose to 11.13% (up from 10.04% YoY), and Net Profit Margin increased to 8.14% (up from 7.15% YoY). Return on Net Worth improved to 22.32% from 20.90%.
EBITDA Margin
Operating Profit Margin stood at 11.13% in FY 2024-25, representing a 10.89% improvement over the previous year's 10.04%, driven by cost reduction initiatives and improved operational efficiency.
Capital Expenditure
The company has moderate debt-funded capital expenditure plans over the medium term to support its growth trajectory, though specific INR Cr values for future years are not disclosed. Historical growth saw revenue rise from INR 45 Cr in FY 2022 to INR 81 Cr in FY 2025.
Credit Rating & Borrowing
The company maintains a comfortable financial risk profile with an interest coverage ratio of 51.11x (improving 81.03% YoY from 28.23x). Gearing is low at 0.26x as of March 31, 2025.
Operational Drivers
Raw Materials
Steel and iron are the primary raw materials, collectively accounting for 56% to 58% of the total cost of manufacturing or operating income.
Import Sources
Not specifically disclosed, but the company monitors global commodity prices for steel and petroleum, which have recently stabilized.
Capacity Expansion
While specific MTPA figures are not provided, the company is targeting volume growth to remain competitive. Revenue has scaled from INR 45 Cr in FY22 to INR 81.4 Cr in FY25, with Q1 FY26 already reporting INR 26.75 Cr.
Raw Material Costs
Raw material costs represent 56-58% of revenue. The company is susceptible to sharp adverse movements in input prices, although operating margins increased from 11% to 12.20% over the last two fiscals due to efficiency gains.
Manufacturing Efficiency
The company is focused on increasing efficiency and volume growth to offset rising production costs. Profitability ratios improved YoY, indicating successful cost-control measures.
Logistics & Distribution
Not disclosed as a specific percentage, but distribution is impacted by global competition from the Far East, Turkey, and Eastern Europe.
Strategic Growth
Expected Growth Rate
20-25%
Growth Strategy
Growth will be achieved through expanding product offerings, targeting new customers in the agriculture and infrastructure sectors, and leveraging the increasing global acceptance of Indian products for sourcing. The company reported INR 26.75 Cr in Q1 FY26, suggesting a strong run-rate for the full fiscal year.
Products & Services
Propeller shafts and components for the agriculture and infrastructure segments.
Brand Portfolio
Hindustan Hardy.
New Products/Services
The company is continuing efforts to expand its product offering to target new customers, though specific revenue contribution percentages for new launches are not disclosed.
Market Expansion
Targeting global sourcing markets where India is viewed as a viable option, specifically competing against suppliers from the Far East, Turkey, and Eastern Europe.
External Factors
Industry Trends
The industry is seeing a shift toward India as a global sourcing hub. However, competition is intensifying from Turkey and Eastern Europe, and quality standards are becoming increasingly stringent with high penalties for non-compliance.
Competitive Landscape
Key competition arises from manufacturers in the Far East, Turkey, and Eastern Europe.
Competitive Moat
The moat is built on established customer relationships and the ability to meet stringent global quality standards, though it is challenged by low-cost competition from the Far East.
Macro Economic Sensitivity
Highly sensitive to the Indian monsoon (affects agricultural sales) and government infrastructure spending levels.
Consumer Behavior
Increased global acceptance of Indian-manufactured engineering products is shifting demand toward Indian suppliers.
Geopolitical Risks
Global outlook is uncertain due to geopolitical tensions and elections in major economies, which may impact export demand.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act, 2013, and Indian Accounting Standards (Ind-AS). The company maintains internal financial controls to ensure reliable financial reporting as per Section 143(3)(i).
Taxation Policy Impact
The company has no disputed amounts in respect of Income Tax, GST, or Customs Duty. It complies with Section 135 of the Companies Act regarding CSR fund transfers.
Legal Contingencies
There are no disputed statutory dues or unrecorded income transactions reported in tax assessments. No material foreseeable losses on long-term contracts were identified.
Risk Analysis
Key Uncertainties
Raw material price volatility (steel/iron) and forex fluctuations represent the primary risks, potentially impacting margins by 1-2% if not managed.
Geographic Concentration Risk
Approximately 70% of revenue is concentrated in the Indian domestic market, with a specific reliance on the agricultural sector's performance.
Third Party Dependencies
The company relies on third-party confirmations for stocks lying with them at year-end, though no major discrepancies (>10%) were noted.
Technology Obsolescence Risk
The company is focused on efficiency and volume growth to remain competitive against technologically evolving global peers.
Credit & Counterparty Risk
Debtors collection period increased to 90 days from 82 days, primarily due to higher export sales, which requires monitoring of counterparty credit risk.
