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As of 6 Nov 2026, HBL Engineering trades at 29.8× trailing earnings, below the industry P/E of 30.0×, and the shares are 25% below their 52-week high. Its ROCE of 46% is the highest among the 7 largest Electrical Equipment & Parts peers, and sales and net profit grew 34% and 102% a year over 3 years. It has almost no debt, and its dividend yield is 0.4%. It is a small-cap company with a market cap of ₹23,264 Cr, ranked 9th of 97 Electrical Equipment & Parts companies by market cap; the shares fell 14% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Jun 2026.How we calculate this

past year
Open
₹850.00
Day high
₹854.20
Day low
₹833.25
Prev. close
₹855.20
Volume
9.3 L

Health check

3 good · 1 fair · 2 to check
  • ReturnsBehind

    −14.0% over a year, better than 2 of 7 peers.

  • Price tagIn line

    P/E 29.8 vs industry 30.0.

  • GrowthStrong

    Sales +34.2%, profit +102.1% a year over 3 years.

  • ProfitabilityStrong

    ROCE 46.4% vs peer median 22.1%.

  • Balance sheetSolid

    Practically debt-free, Piotroski 8 of 9.

  • Red flags1 to check

    Quarterly profit down 23.9% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Electrical Equipment & Parts

96 listed peers. Screen the industry

Small cap

₹23,264 Cr, #9 of 97 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Jun 2026: sales ₹3,339 Cr · profit ₹781 Cr
Market cap
₹23,264 Cr
Small cap
P/E
29.8
Industry 30.0
Price to book
10.41
Peers 7.24
Dividend yield
0.36%
ROE
44.1%
Peers 18.0%
ROCE
46.4%
Peers 22.1%
Debt to equity
0.03
Debt ₹67 Cr
EPS (TTM)
₹28.16
Face value ₹1
OPM (TTM)
32.0%
Net margin 23.4%
Sales growth
+6.0%
Latest quarter vs a year ago
Profit growth
−23.9%
Latest quarter vs a year ago
Price to sales
6.97
EV/EBITDA 21.2

Strengths and risks

Strengths

  • Return on equity of 44.1%.
  • Return on capital employed of 46.4%.
  • Practically debt-free.
  • Net margin of 23.4%.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Quarterly profit down 23.9% on a year ago.

Derived automatically from reported figures. Not a recommendation.

About HBL Engineering

HBL Engineering Limited manufactures and sells batteries and electronic equipment in India and internationally. It operates through Industrial batteries, Defense and Aviation batteries, and Electronics segments. The company offers lead acid batteries, nickel-cadmium batteries, silver zinc batteries, and lithium batteries. It also provides rail signaling electronics, electronic fuzes for ammunition, train collision avoidance systems, train management…

Headquarters
Hyderabad
Employees
2,455
Sector
Industrials
ISIN
INE292B01021
Website
hbl.in

Price range

52 weeks

₹613.00₹1,122.00

Today

₹833.25₹854.20
Avg volume (3M)
23.6 L
1-year return
minus 14.0%
From 52-week high
minus 25.2%

Peers · Electrical Equipment & Parts

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
POWERINDIAHitachi Energy India27,800.00minus 1.42%1,23,911107.795.324.9%16.1%0.0222.2%plus 37.9%
CGPOWERCG Power and Industrial Solutions773.00minus 4.43%1,21,78588.672.519.3%13.1%0.0221.2%plus 8.2%
POLYCABPolycab India7,871.00plus 0.28%1,18,61337.529.030.4%13.6%0.0226.6%plus 3.8%
HAVELLSHavells India1,128.00plus 5.61%70,78942.630.022.1%9.1%0.029.9%minus 28.1%
APARINDSApar Industries14,106.00minus 9.65%59,06541.630.726.7%9.5%0.1217.0%plus 87.2%
KEIKEI Industries3,988.00minus 1.80%38,14336.129.918.7%11.0%0.0419.1%plus 1.8%
HONAUTHoneywell Automation India30,080.00minus 0.79%26,61347.035.715.7%13.8%0.0210.9%minus 17.5%
HBLENGINEHBL Engineering839.25minus 1.87%23,26429.820.446.4%32.0%0.0334.2%minus 14.0%
Median of 7 peers–−1.42%70,78942.630.722.1%13.1%0.0219.1%3.8%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26
6021,223874604638
410679572529491
19254430274.7147
31.9%44.5%34.6%12.4%23.0%
19.615.810.51320.6
6.43.52.62.35.4
11.512.212.314.612.4
−3.1−23.9−1−3.3−0
19152029767.5149
25.5%25.6%26.8%22.9%25.8%
14338722163.8109
5.1713.977.962.323.95

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+34.2%
Profit CAGR 3Y
+102.1%
EPS CAGR 3Y
+102.3%
ROE
44.1%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,3582,2211,9543,283
–+63.6%minus 12.1%+68.0%
1,2061,7991,5642,174
1524223891,108
11.2%19.0%19.9%33.8%
18.231.933.770.6
5.79.37.410.1
35.5384144.8
0.7−29.8−0.8−32.3
1303773741,092
24.2%25.6%26.0%25.4%
98.7281277815
–+184.7%minus 1.4%+194.3%
3.5510.139.9929.40

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
27.727.727.727.7
9241,1931,4552,187
8667.574.366.9
257366422661
1,2941,6541,9802,942
334368493576
25.923.1102138
11.910.196.6141
133229203677
7891,0241,0851,411
1,2941,6541,9802,942

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
122270247738
−49.7−137−320−214
−9.642.3−33.4−113
63.2176−107411
−63.9−74.1−122−150
58.6196125588
––−13.9−83.2

Shareholding pattern

Source: NSE filings

NSE hasn’t returned a shareholding pattern for this company. Institutions hold about 56.3% (Yahoo estimate).

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you