Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 17.75 | 16.89 | 19.87 | 17.31 | 14.95 | 12.66 | 36.08 | 13.27 | 17.30 | 23.45 | 29.50 | 7.89 |
| Expenses | 13.11 | 12.93 | 14.57 | 14.67 | 13.31 | 12.11 | 23.56 | 12.53 | 18.04 | 16.07 | 17.82 | 9.98 |
| Operating Profit | 4.64 | 3.96 | 5.30 | 2.64 | 1.64 | 0.55 | 12.52 | 0.74 | -0.74 | 7.38 | 11.68 | -2.09 |
| OPM % | 26.14% | 23.45% | 26.67% | 15.25% | 10.97% | 4.34% | 34.70% | 5.58% | -4.28% | 31.47% | 39.59% | -26.49% |
| Other Income | 0.57 | 1.07 | 1.42 | 1.67 | 1.34 | 0.96 | 1.74 | 0.91 | 4.10 | 0.29 | -0.67 | 0.20 |
| Interest | 0.50 | 0.36 | 0.36 | 0.24 | 0.32 | 0.38 | 0.53 | 0.34 | 0.39 | 0.66 | 0.46 | 0.25 |
| Depreciation | 0.30 | 0.26 | 0.11 | 0.20 | 0.21 | 0.24 | 0.26 | 0.26 | 0.26 | 0.28 | 0.30 | 0.30 |
| Profit before tax | 4.41 | 4.41 | 6.25 | 3.87 | 2.45 | 0.89 | 13.47 | 1.05 | 2.71 | 6.73 | 10.25 | -2.44 |
| Tax % | 26.08% | 26.30% | 24.96% | 25.58% | 26.53% | 25.84% | 25.91% | 25.71% | 25.46% | 25.56% | 25.95% | -25.41% |
| Net Profit | 3.26 | 3.25 | 4.70 | 2.88 | 1.80 | 0.67 | 9.99 | 0.78 | 2.01 | 5.00 | 7.59 | -1.82 |
| EPS in Rs | 3.64 | 3.63 | 5.24 | 3.21 | 2.01 | 0.75 | 11.14 | 0.87 | 2.24 | 5.58 | 8.47 | -2.03 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23 | 47 | 59 | 47 | 61 | 78 | 80 | 93 | 78 | 81 | 84 | 78 |
| Expenses | 29 | 40 | 48 | 39 | 46 | 48 | 50 | 60 | 55 | 62 | 64 | 62 |
| Operating Profit | -6 | 8 | 12 | 7 | 15 | 30 | 29 | 33 | 24 | 19 | 19 | 16 |
| OPM % | -29% | 16% | 20% | 15% | 25% | 39% | 37% | 36% | 30% | 23% | 23% | 21% |
| Other Income | 3 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 2 | 5 | 5 | 4 |
| Interest | 5 | 5 | 6 | 6 | 6 | 5 | 4 | 3 | 2 | 1 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | -11 | 1 | 5 | 1 | 9 | 24 | 25 | 27 | 23 | 21 | 21 | 17 |
| Tax % | -35% | 175% | 29% | 23% | 36% | 24% | 27% | 25% | 26% | 26% | 26% | |
| Net Profit | -7 | -1 | 3 | 0 | 6 | 18 | 18 | 20 | 17 | 15 | 15 | 13 |
| EPS in Rs | -7.64 | -0.96 | 3.64 | 0.49 | 6.22 | 20.37 | 19.94 | 22.87 | 19.14 | 17.10 | 17.17 | 14.26 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 15% | 15% | 15% | 16% | 18% | 17% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 14% | 1% | -3% | 2% | ||
| Compounded Profit Growth | 14% | -2% | -9% | 3% | ||
| Stock Price CAGR | 30% | 8% | 3% | 4% | ||
| Return on Equity | 24% | 23% | 18% | 15% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 7 | 0 | 13 | 16 | 17 | 22 | 40 | 54 | 72 | 86 | 98 | 110 |
| Borrowings | 39 | 28 | 34 | 40 | 39 | 33 | 35 | 25 | 21 | 5 | 11 | 12 |
| Other Liabilities | 20 | 23 | 31 | 26 | 25 | 19 | 18 | 19 | 21 | 17 | 15 | 16 |
| Total Liabilities | 69 | 53 | 80 | 84 | 83 | 75 | 94 | 99 | 115 | 109 | 126 | 139 |
| Fixed Assets | 17 | 15 | 34 | 33 | 32 | 31 | 31 | 30 | 38 | 38 | 39 | 40 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Investments | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 3 |
| Other Assets | 52 | 38 | 46 | 50 | 50 | 43 | 62 | 68 | 76 | 70 | 84 | 95 |
| Total Assets | 69 | 53 | 80 | 84 | 83 | 75 | 94 | 99 | 115 | 109 | 126 | 139 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 4 | 7 | -3 | 3 | 5 | 11 | 9 | 16 | 17 | 24 | 4 | 14 |
| Cash from Investing Activity | 7 | 6 | -0 | -0 | -0 | -0 | -1 | -1 | -11 | -2 | -7 | -11 |
| Cash from Financing Activity | -7 | -17 | 2 | 1 | -7 | -11 | -3 | -17 | -10 | -21 | 2 | -4 |
| Net Cash Flow | 4 | -4 | -1 | 3 | -2 | -1 | 6 | -1 | -4 | -0 | -1 | -1 |
| Free Cash Flow | 4 | 13 | -3 | 2 | 5 | 11 | 8 | 16 | 6 | 22 | 1 | 9 |
| CFO/OP | -122% | -112% | -46% | 24% | 71% | 74% | 34% | 77% | 73% | 130% | 49% | 97% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 117 | 116 | 108 | 90 | 130 | 54 | 85 | 90 | 113 | 95 | 120 | 125 |
| Inventory Days | 452 | 410 | 369 | 336 | 435 | 412 | 406 | 498 | 433 | 596 | 644 | 624 |
| Days Payable | 152 | 198 | 238 | 187 | 246 | 104 | 65 | 57 | 32 | 52 | 75 | 50 |
| Cash Conversion Cycle | 416 | 328 | 239 | 239 | 319 | 363 | 427 | 531 | 513 | 639 | 689 | 699 |
| Working Capital Days | -167 | -283 | -81 | -42 | -60 | 21 | 56 | 109 | 144 | 232 | 263 | 266 |
| ROCE % | -9% | -19% | 16% | 20% | 11% | 25% | 44% | 36% | 37% | 28% | 23% | 20% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 40.88% | 40.88% | 41.27% | 41.27% | 41.27% | 41.72% | 42.90% | 42.90% | 42.90% | 42.90% | 43.06% | 43.06% |
| DIIs | 6.00% | 6.00% | 5.99% | 5.99% | 5.99% | 5.99% | 5.99% | 6.41% | 6.41% | 6.41% | 6.41% | 5.99% |
| Public | 53.12% | 53.12% | 52.74% | 52.73% | 52.73% | 52.28% | 51.10% | 50.68% | 50.68% | 50.68% | 50.51% | 50.93% |
| No. of Shareholders | 14,337 | 16,663 | 17,877 | 24,625 | 25,170 | 25,286 | 24,981 | 23,977 | 22,893 | 22,384 | 21,983 | 22,050 |
Fundamentals
Market Cap₹ 520 Cr.
Current Price₹ 580
Stock P/E38.0
Book Value₹ 124
ROCE20.4 %
ROE15.4 %
Dividend Yield0.52 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)3%
Standalone figures.
Valuation
Market capRs 513 Cr
Enterprise valueRs 524 Cr
P/E (TTM)40.12x
Price to book4.60x
Price to sales6.56x
EV / EBITDA26.02x
EV / EBIT27.58x
EV / sales6.71x
Price to cash flow35.76x
Earnings yield2.49%
Dividend yield0.52%
P/E, 3-year average30.31x
P/B, 3-year average4.94x
P/E, 5-year average21.60x
P/B, 5-year average3.95x
Profitability
Operating margin (excl. other income)22.83%
Operating margin (incl. other income)28.37%
EBITDA margin25.79%
Pre-tax margin22.08%
Net profit margin16.36%
Net margin, latest quarter-23.07%
ROE14.58%
ROCE19.33%
ROA11.61%
ROE, 3-year average17.41%
ROCE, 3-year average22.66%
ROA, 3-year average13.31%
ROE, 5-year average24.15%
ROCE, 5-year average27.89%
ROA, 5-year average15.52%
ROIC (approx.)11.46%
Tax rate25.83%
Other income / net worth4.15%
Growth
Sales growth (latest year)3.12%
Profit growth (latest year)0.39%
Sales CAGR, 3 years-3.46%
Sales CAGR, 5 years1.42%
Profit CAGR, 3 years-9.11%
Profit CAGR, 5 years-3.44%
Sales growth QoQ-73.25%
Profit growth QoQ-123.98%
Sales growth YoY (latest quarter)-40.54%
Profit growth YoY (latest quarter)-333.33%
Per share
EPS (TTM)Rs 14.26
EPS (latest year)Rs 17.17
EPS (latest quarter)Rs -2.03
EPS, 3-year averageRs 17.80
EPS, 5-year averageRs 35.28
Book value per shareRs 124.39
Sales per shareRs 87.17
Cash flow per shareRs 16.00
Free cash flow per shareRs 10.04
Dividend per share (latest year)Rs 2.99
Dividend per share, 3-year averageRs 2.99
Dividend per share, 5-year averageRs 5.48
Dividends
Dividend payout17.41%
Dividend payout, 3-year average16.84%
Dividend payout, 5-year average16.14%
Efficiency
Asset turnover0.60x
Fixed asset turnover2.08x
Inventory turnover0.80x
Inventory days455 days
Debtor days125 days
Debtors turnover2.93x
Creditor days50 days
Cash conversion cycle699 days
Working capital days266 days
Leverage
Total debtRs 12 Cr
Cash and bankRs 0 Cr
Net debtRs 11 Cr
Debt to equity0.10x
Net debt / EBITDA0.57x
Interest coverage10.80x
Owners' fund to total sources80.26%
Debt to assets8.32%
Cash flow
Cash from Operating Activity (latest year)Rs 14 Cr
Cash from Investing Activity (latest year)Rs -11 Cr
Cash from Financing Activity (latest year)Rs -4 Cr
Net Cash Flow (latest year)Rs -1 Cr
Free cash flow (latest year)Rs 9 Cr
FCFE (approx.: FCF + change in debt)Rs 9 Cr
Cash from ops / profit, 5 years0.88x
Sales to cash flow5.83x
Statement figures
Net sales (TTM)Rs 78 Cr
Net sales (latest year)Rs 84 Cr
Sales (latest quarter)Rs 8 Cr
Operating profit excl. other income (latest year)Rs 19 Cr
Operating profit (latest quarter)Rs -2 Cr
Other income (TTM)Rs 4 Cr
EBITDA (TTM)Rs 20 Cr
PBDT (TTM)Rs 18 Cr
Profit before tax (TTM)Rs 17 Cr
Tax (latest year)Rs 5 Cr
Net profit (TTM)Rs 13 Cr
Net profit (latest year)Rs 15 Cr
Net profit (latest quarter)Rs -2 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 34 Cr
Total expenditure (latest year)Rs 64 Cr
Total income (latest year)Rs 88 Cr
Share capitalRs 2 Cr
ReservesRs 110 Cr
Shareholders' fundsRs 112 Cr
Total assetsRs 139 Cr
Net blockRs 40 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 3 Cr
ReceivablesRs 29 Cr
InventoryRs 42 Cr
Other liabilitiesRs 16 Cr
Shares outstanding (crore)0.90
Ownership
Promoter holding43.06% (+0.16 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 40.1 is at the 77th percentile of its own 8.4-year range
(median 25.1, low 7.8, high 112.0).
P/B 4.60 is at the 35th percentile (median 5.11).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 504176 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.7% | -2.8% | +0.1 pts |
| 1 month | -2.6% | -6.8% | +4.2 pts |
| 3 months | +3.9% | -7.6% | +11.5 pts |
| 3 years | +6.2% | +14.2% | -7.9 pts |
| 5 years | +47.5% | +27.9% | +19.6 pts |
Red flags
F-score 4 of 8No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹8 Cr -40.5% vs Jun 2025.
Net loss ₹2 Cr.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of High Energy Batteries (India) Ltd?
High Energy Batteries (India) Ltd (504176) has a market capitalisation of Rs 520 Cr. at the 2026-10-01 close.
What is the P/E ratio of High Energy Batteries (India) Ltd?
High Energy Batteries (India) Ltd trades at a P/E of 38.0 on trailing twelve-month profit, at the 2026-10-01 close.
What were High Energy Batteries (India) Ltd's latest quarterly results?
In the Jun 2026 quarter, High Energy Batteries (India) Ltd sales was Rs 8 Cr (-40.5% vs Jun 2025) with a net loss of Rs 2 Cr.