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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1.36 | 1.61 | 1.29 | 1.59 | 1.13 | 1.39 | 1.77 | 1.94 | 2.38 | 2.93 | 3.36 | 2.41 |
| Operating costs | 0.68 | 0.52 | 0.42 | 0.47 | 0.58 | 0.44 | 1.32 | 0.83 | 1.57 | 0.98 | 1.55 | 1.00 |
| EBITDA | 0.68 | 1.09 | 0.87 | 1.12 | 0.55 | 0.95 | 0.45 | 1.11 | 0.81 | 1.95 | 1.81 | 1.41 |
| EBITDA margin % | 50.00% | 67.70% | 67.44% | 70.44% | 48.67% | 68.35% | 25.42% | 57.22% | 34.03% | 66.55% | 53.87% | 58.51% |
| Depreciation & amortisation | 0.17 | 0.16 | 0.16 | 0.17 | 0.18 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.20 | 0.20 |
| Finance costs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Non-operating income | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.13 | 0.12 |
| Pre-tax profit | 0.62 | 1.04 | 0.82 | 1.06 | 0.48 | 0.87 | 0.37 | 1.04 | 0.73 | 1.88 | 1.74 | 1.33 |
| Effective tax rate % | -11.29% | 25.96% | 32.93% | -6.60% | 214.58% | 29.89% | 75.68% | 25.96% | 2.74% | 25.00% | -17.24% | 19.55% |
| Profit after tax | 0.69 | 0.77 | 0.55 | 1.14 | -0.55 | 0.61 | 0.09 | 0.77 | 0.70 | 1.41 | 2.05 | 1.07 |
| Earnings per share (Rs) | 10.15 | 11.33 | 8.09 | 16.78 | -8.09 | 8.98 | 1.32 | 11.33 | 10.30 | 20.75 | 30.17 | 15.75 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 5.47 | 8.19 | 4.21 | 2.89 | 3.52 | 3.19 | 4.16 | 3.91 | 5.43 | 5.91 | 10.64 | 11.08 |
| Operating costs | 3.48 | 2.95 | 2.64 | 2.53 | 2.05 | 2.29 | 1.92 | 2.15 | 2.16 | 2.77 | 4.90 | 5.10 |
| EBITDA | 1.99 | 5.24 | 1.57 | 0.36 | 1.47 | 0.90 | 2.24 | 1.76 | 3.27 | 3.14 | 5.74 | 5.98 |
| EBITDA margin % | 36.38% | 63.98% | 37.29% | 12.46% | 41.76% | 28.21% | 53.85% | 45.01% | 60.22% | 53.13% | 53.95% | 53.97% |
| Depreciation & amortisation | 0.33 | 0.36 | 0.39 | 0.38 | 0.40 | 0.47 | 0.59 | 0.65 | 0.67 | 0.72 | 0.78 | 0.80 |
| Finance costs | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Non-operating income | 0.00 | 0.16 | 0.13 | 0.20 | 0.17 | 0.14 | 0.20 | 0.19 | 0.42 | 0.37 | 0.45 | 0.50 |
| Pre-tax profit | 1.66 | 5.04 | 1.31 | 0.18 | 1.24 | 0.57 | 1.85 | 1.30 | 3.02 | 2.79 | 5.41 | 5.68 |
| Effective tax rate % | 689.76% | 19.84% | 16.03% | 38.89% | 26.61% | 98.25% | 31.35% | 16.15% | 14.57% | 53.41% | 8.87% | |
| Profit after tax | -9.79 | 4.04 | 1.09 | 0.12 | 0.90 | 0.01 | 1.27 | 1.10 | 2.58 | 1.29 | 4.93 | 5.23 |
| Earnings per share (Rs) | -144.08 | 59.46 | 16.04 | 1.77 | 13.25 | 0.15 | 18.69 | 16.19 | 37.97 | 18.98 | 72.55 | 76.97 |
| Paid out as dividend % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Revenue CAGR | 7% | 27% | 40% | 78% | ||
| Profit CAGR | 10% | 246% | 65% | 468% | ||
| Share price CAGR | 11% | 26% | 25% | 5% | ||
| Average return on equity | 4% | 5% | 6% | 10% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net block (property, plant) | 7.44 | 7.14 | 9.53 | 9.41 | 10.38 | 11.12 | 19.31 | 19.71 | 20.22 | 19.65 | 20.52 | 20.24 |
| Capital work in progress | 0.00 | 0.00 | 0.19 | 0.02 | 0.00 | 0.27 | 0.24 | 0.10 | 0.03 | 0.47 | 0.22 | 0.26 |
| Investments | 24.55 | 25.31 | 19.71 | 20.41 | 19.91 | 16.05 | 13.04 | 13.68 | 19.59 | 23.06 | 26.45 | 27.22 |
| Current & other assets | 15.96 | 6.95 | 8.68 | 9.35 | 9.25 | 10.21 | 4.87 | 10.04 | 3.47 | 2.74 | 1.48 | 6.22 |
| Total assets | 47.95 | 39.40 | 38.11 | 39.19 | 39.54 | 37.65 | 37.46 | 43.53 | 43.31 | 45.92 | 48.67 | 53.94 |
| Share capital | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 |
| Reserves & surplus | 44.88 | 35.07 | 34.95 | 36.09 | 36.13 | 34.42 | 34.23 | 39.54 | 41.08 | 43.80 | 44.84 | 50.03 |
| Total debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other liabilities & provisions | 2.39 | 3.65 | 2.48 | 2.42 | 2.48 | 2.50 | 2.55 | 3.31 | 1.55 | 1.44 | 3.15 | 3.23 |
| Equity + liabilities | 47.95 | 39.40 | 38.11 | 39.19 | 39.54 | 37.65 | 37.46 | 43.53 | 43.31 | 45.92 | 48.67 | 53.94 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 17.25 | 0.58 | -1.65 | -0.60 | 0.65 | 0.16 | 1.35 | 3.21 | -2.96 | 3.08 | 0.69 | -3.86 |
| Investing cash flow | -17.10 | -0.75 | 1.55 | 0.53 | -0.89 | -0.25 | -1.25 | -3.11 | 3.07 | -1.55 | -2.40 | 4.54 |
| Free cash flow (after capex) | 16.95 | 0.54 | -2.55 | -0.71 | -0.66 | -0.44 | 0.50 | 2.38 | -4.03 | 2.53 | -0.70 | -3.34 |
| Financing cash flow | 0.00 | 0.00 | 0.00 | 0.00 | 0.25 | -0.20 | -0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net change in cash | 0.15 | -0.18 | -0.10 | -0.07 | 0.01 | -0.29 | 0.05 | 0.10 | 0.11 | 1.54 | -1.71 | 0.68 |
| Cash conversion (OCF / EBITDA) % | -3,617% | 40% | -31% | -20% | 139% | 10% | 152% | 164% | -147% | 107% | 45% | -63% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on capital employed % | 3.09% | 4.08% | 14.12% | 3.62% | 0.49% | 3.43% | 1.63% | 4.87% | 3.15% | 7.00% | 6.31% | 11.26% |
| Receivable days | 49.98 | 28.03 | 15.60 | 29.48 | 45.47 | 26.96 | 73.23 | 21.94 | 10.27 | 0.00 | 37.67 | 9.95 |
| Inventory days | 1.88 | 0.00 | 0.00 | 2.64 | 9.86 | 131.81 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Payable days | 20.70 | 0.00 | 9.86 | 40.56 | ||||||||
| Cash cycle (days) | 31.17 | 28.03 | 15.60 | 32.12 | 45.47 | 118.21 | 73.23 | 21.94 | 10.27 | 0.00 | 37.67 | 9.95 |
| Working capital days | -211.56 | -123.45 | -82.45 | -156.06 | -291.75 | -162.80 | 136.16 | 617.69 | 205.37 | -8.07 | -30.26 | 124.53 |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter group % | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% | 73.61% |
| Domestic institutions % | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% | 0.08% |
| Retail & others % | 26.31% | 26.31% | 26.31% | 26.30% | 26.29% | 26.31% | 26.30% | 26.30% | 26.31% | 26.31% | 26.30% | 26.30% |
| Shareholder count | 1,323 | 1,374 | 1,430 | 1,420 | 1,523 | 1,534 | 1,527 | 1,517 | 1,492 | 1,487 | 1,494 | 1,518 |
Fundamentals
Market value₹ 57.2 Cr.
Last price₹ 842
P/E (trailing)11.0
Book value / share₹ 746
Return on capital11.3 %
Return on equity10.2 %
Dividend yield0.00 %
Face value₹ 10.0
Revenue CAGR (TTM)78%
Profit CAGR (TTM)468%
Standalone figures.
Valuation
Market capRs 57 Cr
Enterprise valueRs 56 Cr
P/E (TTM)10.90x
Price to book1.12x
Price to sales5.15x
EV / EBITDA8.65x
EV / EBIT9.87x
EV / sales5.06x
Earnings yield9.17%
P/E, 3-year average19.91x
P/B, 3-year average0.94x
P/E, 5-year average18.93x
P/B, 5-year average0.76x
Profitability
Operating margin (excl. other income)53.95%
Operating margin (incl. other income)58.18%
EBITDA margin58.48%
Pre-tax margin51.26%
Net profit margin47.20%
Net margin, latest quarter44.40%
ROE10.25%
ROCE11.24%
ROA9.61%
ROE, 3-year average6.37%
ROCE, 3-year average8.15%
ROA, 3-year average6.04%
ROE, 5-year average5.03%
ROCE, 5-year average6.51%
ROA, 5-year average4.76%
ROIC (approx.)10.40%
Tax rate8.87%
Other income / net worth0.89%
Growth
Sales growth (latest year)80.03%
Profit growth (latest year)282.17%
Sales CAGR, 3 years39.61%
Sales CAGR, 5 years27.24%
Profit CAGR, 3 years64.87%
Profit CAGR, 5 years245.60%
Sales growth QoQ-28.27%
Profit growth QoQ-47.80%
Sales growth YoY (latest quarter)24.23%
Profit growth YoY (latest quarter)38.96%
Per share
EPS (TTM)Rs 76.94
EPS (latest year)Rs 72.53
EPS (latest quarter)Rs 15.74
EPS, 3-year averageRs 43.15
EPS, 5-year averageRs 32.87
Book value per shareRs 746.01
Sales per shareRs 163.00
Cash flow per shareRs -56.79
Free cash flow per shareRs -49.14
Efficiency
Asset turnover0.20x
Fixed asset turnover0.53x
Debtor days10 days
Debtors turnover36.69x
Creditor days41 days
Cash conversion cycle10 days
Working capital days125 days
Leverage
Cash and bankRs 1 Cr
Net debtRs -1 Cr
Net debt / EBITDA-0.15x
Owners' fund to total sources94.01%
Cash flow
Operating cash flow (latest year)Rs -4 Cr
Investing cash flow (latest year)Rs 5 Cr
Net change in cash (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -3 Cr
Cash from ops / profit, 5 years0.01x
Statement figures
Net sales (TTM)Rs 11 Cr
Net sales (latest year)Rs 11 Cr
Sales (latest quarter)Rs 2 Cr
Operating profit excl. other income (latest year)Rs 6 Cr
Operating profit (latest quarter)Rs 1 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 6 Cr
PBDT (TTM)Rs 6 Cr
Profit before tax (TTM)Rs 6 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 5 Cr
Net profit (latest year)Rs 5 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Cost of goods sold (latest year)Rs 3 Cr
Total expenditure (latest year)Rs 5 Cr
Total income (latest year)Rs 11 Cr
Share capitalRs 1 Cr
ReservesRs 50 Cr
Shareholders' fundsRs 51 Cr
Total assetsRs 54 Cr
Net blockRs 20 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 27 Cr
ReceivablesRs 0 Cr
Other liabilitiesRs 3 Cr
Shares outstanding (crore)0.07
Ownership
Promoter holding73.61% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 10.9 is at the 15th percentile of its own 8.4-year range
(median 18.7, low 4.5, high 132.0).
P/B 1.12 is at the 84th percentile (median 0.57).
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 | 509597 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +2.4% | +0.4% | +2.0 pts |
| 1 month | +1.3% | -4.7% | +6.0 pts |
| 3 months | -0.6% | -7.0% | +6.4 pts |
| 3 years | +95.8% | +14.4% | +81.4 pts |
| 5 years | +200.7% | +25.8% | +174.9 pts |
| Holder | Now | vs last qtr | vs 1 yr |
|---|---|---|---|
| Promoter group | 73.61% | +0.00 | +0.00 |
| Domestic institutions | 0.08% | +0.00 | +0.00 |
| Retail & others | 26.30% | +0.00 | +0.00 |
| Shareholders | 1,518 | +1 |
Changes in percentage points. Quarter Jun 2026.
Red flags
F-score 6 of 8| explain | Weak cash conversion Cash from operations was -1% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 16% of total assets in 2026 |
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 ₹2 Cr +24.2% vs Jun 2025.
Net profit ₹1 Cr +39.0%.
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 Hardcastle & Waud Mfg Co Ltd?
Hardcastle & Waud Mfg Co Ltd (509597) has a market capitalisation of Rs 57.2 Cr. at the 2026-10-09 close.
What is the P/E ratio of Hardcastle & Waud Mfg Co Ltd?
Hardcastle & Waud Mfg Co Ltd trades at a P/E of 11.0 on trailing twelve-month profit, at the 2026-10-09 close.
What were Hardcastle & Waud Mfg Co Ltd's latest quarterly results?
In the Jun 2026 quarter, Hardcastle & Waud Mfg Co Ltd sales was Rs 2 Cr (+24.2% vs Jun 2025) and net profit was Rs 1 Cr.