Horizon Industrial Parks (HORIZONIND) is loss-making over the last 12 months, losing ₹144 Cr, so a P/E ratio does not apply. Its share price on 6 Nov 2026 was ₹43.43, 28% below its 52-week high. Sales grew 22% a year over 3 years. Debt is 0.43× equity. It is a small-cap company with a market cap of ₹12,520 Cr, ranked 8th of 112 Real Estate (Development) companies by market cap; the shares fell 25% over the past year.
- ₹44.30
- ₹44.30
- ₹42.77
- ₹44.35
- 18.9 L
Health check
- ReturnsBehind
−25.3% over a year, better than 2 of 7 peers.
- Price tagLoss-making
Earnings were negative over the last 12 months.
- GrowthUnder pressure
Sales +22.0% a year over 3 years, but loss-making now.
- ProfitabilityWeak
ROCE 2.6% vs peer median 10.4%.
- Balance sheetStretched
Debt 0.43× equity, interest covered 0.6×, Piotroski 6 of 9.
- Red flags3 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹12,520 Cr
- Small cap
- P/E
- 83.5
- Industry 22.1
- Price to book
- 1.36
- Peers 2.88
- Dividend yield
- 0.00%
- ROE
- −4.9%
- Peers 11.1%
- ROCE
- 2.6%
- Peers 10.4%
- Debt to equity
- 0.43
- Debt ₹3,548 Cr
- EPS (TTM)
- ₹0.52
- Face value ₹10
- OPM (TTM)
- 78.3%
- Net margin −19.7%
- Sales growth
- +29.9%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 17.18
- EV/EBITDA 25.0
Strengths and risks
Strengths
- Quarterly sales up 29.9% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Loss-making over the last twelve months.
- Return on equity is low at −4.9%.
- Interest coverage of only 1.0×.
About Horizon Industrial Parks
Horizon Industrial Parks Limited engaged in the business of developing, operating, and maintaining industrial and warehousing parks in India. It offers industrial and logistic parks, fulfillment centers and industrial facilities, and in-city centers. The company also offers turnkey solutions, energy solutions, on-site staff accommodation and skill development centers, cold storage, and hospitality. It caters to the auto, engineering and aerospace,…
- Headquarters
- Mumbai
- Sector
- Real Estate
- ISIN
- INE685T01010
- Website
- hiparks.com
Price range
- Avg volume (3M)
- 60.7 L
- 1-year return
- minus 25.3%
- From 52-week high
- minus 27.9%
Peers · Real Estate - Development
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLFDLF | 752.90 | plus 1.03% | 1,86,366 | 40.8 | 127.6 | 6.3% | 15.3% | 0.01 | 11.3% | minus 3.8% |
| LODHALodha Developers | 1,179.00 | plus 0.27% | 1,17,812 | 27.1 | 25.2 | 18.2% | 33.1% | 0.41 | 20.4% | minus 3.9% |
| OBEROIRLTYOberoi Realty | 1,739.00 | minus 0.13% | 63,230 | 24.0 | 18.8 | 16.7% | 57.5% | 0.14 | 12.9% | minus 2.2% |
| GODREJPROPGodrej Properties | 1,809.30 | minus 0.31% | 54,501 | 40.4 | – | 11.1% | −6.5% | 1.02 | 32.4% | minus 20.9% |
| BRIGADEBrigade Enterprises | 558.15 | minus 0.89% | 18,205 | 25.1 | 15.6 | 9.8% | 29.2% | 0.83 | 18.5% | minus 26.2% |
| ANANTRAJAnant Raj | 445.45 | minus 4.41% | 16,031 | 26.5 | 24.1 | 10.4% | 27.8% | 0.13 | 37.9% | minus 27.8% |
| SOBHASobha | 1,275.40 | minus 1.28% | 13,642 | 71.4 | 46.7 | 7.4% | 6.5% | 0.33 | 16.3% | minus 20.2% |
| HORIZONINDHorizon Industrial Parks | 43.43 | minus 2.07% | 12,520 | 83.5 | 31.6 | 2.6% | 78.3% | 0.43 | 22.0% | minus 25.3% |
| Median of 7 peers | – | −0.31% | 54,501 | 27.1 | 24.7 | 10.4% | 27.8% | 0.33 | 18.5% | −20.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Jun 26 | Sep 26 |
|---|---|---|---|---|
| 163 | 166 | 201 | 215 | |
| – | – | +23.1% | +29.9% | |
| 49.4 | 30.6 | 39.6 | 41.5 | |
| 113 | 135 | 161 | 173 | |
| 69.7% | 81.5% | 80.3% | 80.7% | |
| 6.9 | 10.3 | 40 | 38.5 | |
| 135 | 148 | 131 | 116 | |
| 51.9 | 70.1 | 76.5 | 85.2 | |
| 3 | – | – | – | |
| −63.7 | −73 | −6.9 | 11.2 | |
| −2.7% | −4.2% | −68.3% | −24.4% | |
| −64.3 | −74 | −10.3 | 15.3 | |
| -0.33 | -0.38 | -0.04 | 0.06 |
Profit & loss
- Sales CAGR 3Y
- +22.0%
- ROE
- −4.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 370 | 447 | 560 | 671 | |
| – | +21.0% | +25.2% | +19.7% | |
| 256 | 283 | 189 | 130 | |
| 114 | 164 | 372 | 541 | |
| 30.8% | 36.6% | 66.3% | 80.6% | |
| −1.4 | 4.7 | 39.4 | 43 | |
| 288 | 387 | 468 | 516 | |
| 67.3 | 98.2 | 143 | 266 | |
| −60.9 | 45.8 | −22.8 | 17.6 | |
| −304 | −271 | −224 | −181 | |
| 3.3% | −1.5% | −7.1% | −5.6% | |
| −280 | −271 | −227 | −184 | |
| -2.06 | -2.04 | -1.68 | -0.95 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1,382 | 1,329 | 1,366 | 2,450 | |
| 800 | 529 | 697 | 3,047 | |
| 4,513 | 5,480 | 6,720 | 6,906 | |
| 665 | 1,030 | 1,016 | 903 | |
| 7,361 | 8,368 | 9,799 | 13,306 | |
| 636 | 432 | 416 | 491 | |
| 622 | 420 | 407 | 463 | |
| 88.8 | 108 | 57.1 | 76 | |
| 405 | 450 | 437 | 2,343 | |
| 5,610 | 6,959 | 8,482 | 9,933 | |
| 7,361 | 8,368 | 9,799 | 13,306 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 89.2 | 119 | 235 | 464 | |
| −409 | −876 | −1,596 | −4,873 | |
| 376 | 794 | 1,458 | 4,638 | |
| 56.5 | 37.1 | 96.7 | 229 | |
| 89.2 | 119 | 235 | 464 |
Shareholding pattern
- Promoters75.40%
- Public24.60%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 75.40% | 24.60% | 0.00 | |
| 21 Aug 2026 | 75.40% | 24.60% | – |
Major shareholders
Filings & events
News
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