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Swing Capital

HBL Engineering Ltd

NSE: HBLENGINE BSE: 517271Energy

Incorporated in 1983, HBL Power System Ltd manufactures and services different types of batteries, e-mobility, and other products[1]

₹744
52W: ₹542 — ₹1122
PE 25.4 · Book ₹70.4 · +957% vs book
Market Cap₹20,625 Cr
Stock P/E25.4Price to Earnings
ROCE27%Return on Capital
ROE20.2%Return on Equity
Div. Yield0.27%Face Value ₹1

Strengths

  • +Company is almost debt free.
  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 66.7% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 10.6 times its book value

Shareholding Pattern

Promoters59.11%
FIIs5.94%
DIIs0.79%
Public34.17%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters59.11%59.1%▼0.059.1%59.1%59.1%59.11%▲0.059.11%59.11%
FIIs4.66%4.91%▲0.35.22%▲0.34.83%▼0.44.83%7.1%▲2.35.87%▼1.25.94%▲0.1
DIIs1.07%0.96%▼0.10.39%▼0.60.36%▼0.00.36%0.64%▲0.30.82%▲0.20.79%▼0.0
Public35.17%35.03%▼0.135.27%▲0.235.7%▲0.435.7%33.12%▼2.634.2%▲1.134.17%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales5515956045115204554605881,203864
Expenses450483473403411360382399666563
Operating Profit1011111311081099578189537301
OPM %18%19%22%21%21%21%17%32%45%35%
Net Profit69767174806151140382218
EPS ₹2.472.752.552.682.92.221.855.0413.797.85

AI Insights

Revenue Trend

TTM revenue at ₹3,114Cr, up 60% YoY. OPM at 35%.

Debt Position

Borrowings at ₹77Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.

Capex Cycle

CWIP at ₹129Cr (32% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 0.79% (+0.65pp change). FIIs: 5.94% (+3.31pp change). Promoters hold 59.11%.

Margin & Efficiency

ROCE improving from 5% (Mar 2014) to 27% (Mar 2025). Working capital days: 108.

Valuation

PE 25.4x with 27% ROCE. Price is 957% above book value of ₹70.4. Dividend yield: 0.27%.

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