MarketFriction

HMT Ltd

NSE HMT · BSE 500191 · Industrial Products
₹58.24 -3.09%
NSE close2026-10-01
52 week range41.00 - 72.95
Market cap₹2,121 Cr.
GSM Price band 5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales363249324229402526217129
Expenses57559453654610246634410252
Operating Profit-20-23-46-21-23-17-62-21-37-23-30-23
OPM %-56%-71%-93%-67%-55%-57%-155%-86%-145%-111%-42%-81%
Other Income10102,7031412-15491316151413
Interest171718201417191816181718
Depreciation222222122211
Profit before tax-29-322,638-29-27-51-33-28-39-27-35-29
Tax %0%0%-0%0%0%0%9%0%0%0%7%0%
Net Profit-29-322,641-29-27-51-36-28-39-27-37-29
EPS in Rs-0.81-0.8974.27-0.81-0.76-1.44-1.01-0.78-1.10-0.77-1.05-0.82
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales228190195263260204176204163142143147
Expenses307727318275299274261298274265255261
Operating Profit-79-537-123-12-39-70-85-94-110-123-112-114
OPM %-34%-283%-63%-4.6%-15%-35%-49%-46%-68%-86%-78%-78%
Other Income-136474824527158702572,735605859
Interest536266676584746968706969
Depreciation101110910101098776
Profit before tax-278-562-151156157-105533-1152,548-140-129-130
Tax %0%-3%-0%0%1%4%0%7%-0%2%2%
Net Profit-278-544-151155156-110533-1232,551-143-132-133
EPS in Rs-2.31-4.52-1.264.364.38-3.0914.97-3.4671.73-4.02-3.70-3.74
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-5%-7%-11%9%
Compounded Profit Growth%-4%-2%5%
Stock Price CAGR5%16%9%1%
Return on Equity%%%%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,2041,2041,2041,204356356356356356356356356
Reserves-5,149-5,461-6,002-6,098-5,107-4,959-5,069-4,536-4,659-2,108-2,254-2,382
Borrowings2,2053234,4014,5144,3444,3764,4053,7533,7641,0291,0291,033
Other Liabilities2,4134,7701,0941,0271,1559761,0091,0871,2511,3441,4131,549
Total Liabilities673836697647748748700660711622544555
Fixed Assets948876665966605344403630
CWIP137911157674322
Investments111100000000
Other Assets565740611569673675635600663578506523
Total Assets673836697647748748700660711622544555
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-223-117-661-108-43-269-71-50103-847-4644
Cash from Investing Activity7-158298188-2745-28-4830-0
Cash from Financing Activity20735454184-246-357-74828-7-3
Net Cash Flow-9236-115-168-116-92-1379-67-2441
Free Cash Flow-223-122-662-109243-11-73-5598-850-4844
CFO/OP76%148%127%87%-102%602%100%54%-115%-0%34%-42%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days145160185196231211302323333300318239
Inventory Days7586381,0291,1481,243754720667412585640470
Days Payable214304508528628405390361254453470529
Cash Conversion Cycle689494706816846560632630491432488180
Working Capital Days-2,581-6,931-8,622-8,680-6,531-6,544-8,803-9,124-8,194-4,246-5,129-5,586
ROCE %
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters93.69%93.69%93.69%93.69%93.69%93.69%93.69%93.69%93.69%93.69%93.69%93.69%
Government5.61%5.61%5.61%5.61%5.61%5.61%5.61%5.61%5.61%5.61%5.61%5.61%
Public0.71%0.71%0.70%0.70%0.71%0.71%0.71%0.71%0.70%0.70%0.71%0.70%
No. of Shareholders18,16118,78520,12321,51025,11625,64327,03427,93027,69627,50926,89726,136

Fundamentals

Market Cap₹ 2,121 Cr.
Current Price₹ 60.0
Book Value₹ -57.0
ROCE%
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)5%
Consolidated figures.
Valuation
Market capRs 2,071 Cr
Enterprise valueRs 2,842 Cr
Price to book-1.02x
Price to sales14.09x
EV / sales19.33x
Price to cash flow47.12x
Earnings yield-6.42%
P/E, 3-year average0.60x
P/B, 3-year average-0.92x
P/E, 5-year average1.17x
P/B, 5-year average-0.64x
Profitability
Operating margin (excl. other income)-78.43%
Operating margin (incl. other income)-37.46%
EBITDA margin-37.56%
Pre-tax margin-88.68%
Net profit margin-90.44%
Net margin, latest quarter-100.97%
ROE6.70%
ROA-23.93%
ROE, 3-year average-23.24%
ROA, 3-year average111.41%
ROE, 5-year average-15.76%
ROA, 5-year average78.91%
Tax rate-2.02%
Other income / net worth-2.88%
Growth
Sales growth (latest year)0.24%
Sales CAGR, 3 years-11.21%
Sales CAGR, 5 years-6.86%
Sales growth QoQ-59.50%
Sales growth YoY (latest quarter)17.84%
Per share
EPS (TTM)Rs -3.74
EPS (latest year)Rs -3.70
EPS (latest quarter)Rs -0.82
EPS, 3-year averageRs 21.34
EPS, 5-year averageRs 15.10
Book value per shareRs -56.99
Sales per shareRs 4.13
Cash flow per shareRs 1.24
Free cash flow per shareRs 1.24
Efficiency
Asset turnover0.26x
Fixed asset turnover4.75x
Inventory turnover1.00x
Inventory days364 days
Debtor days239 days
Debtors turnover1.53x
Creditor days529 days
Cash conversion cycle180 days
Working capital days-5586 days
Leverage
Total debtRs 1,033 Cr
Cash and bankRs 262 Cr
Net debtRs 771 Cr
Debt to equity-0.51x
Interest coverage-0.90x
Current ratio (filing 2026-03-31)0.20x
Quick ratio (filing 2026-03-31)0.17x
Trade payables (filing 2026-03-31)Rs 119 Cr
Owners' fund to total sources-365.05%
Debt to assets186.13%
Cash flow
Cash from Operating Activity (latest year)Rs 44 Cr
Cash from Investing Activity (latest year)Rs -0 Cr
Cash from Financing Activity (latest year)Rs -3 Cr
Net Cash Flow (latest year)Rs 41 Cr
Free cash flow (latest year)Rs 44 Cr
FCFE (approx.: FCF + change in debt)Rs 48 Cr
Cash from ops / profit, 5 years-0.30x
Sales to cash flow3.25x
Statement figures
Net sales (TTM)Rs 147 Cr
Net sales (latest year)Rs 143 Cr
Sales (latest quarter)Rs 29 Cr
Operating profit excl. other income (latest year)Rs -112 Cr
Operating profit (latest quarter)Rs -23 Cr
Other income (TTM)Rs 59 Cr
EBITDA (TTM)Rs -55 Cr
PBDT (TTM)Rs -124 Cr
Profit before tax (TTM)Rs -130 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs -133 Cr
Net profit (latest year)Rs -132 Cr
Net profit (latest quarter)Rs -29 Cr
Depreciation (TTM)Rs 6 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 69 Cr
Cost of goods sold (latest year)Rs 106 Cr
Total expenditure (latest year)Rs 255 Cr
Total income (latest year)Rs 201 Cr
Share capitalRs 356 Cr
ReservesRs -2,382 Cr
Shareholders' fundsRs -2,027 Cr
Total assetsRs 555 Cr
Net blockRs 30 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 0 Cr
ReceivablesRs 93 Cr
InventoryRs 106 Cr
Other liabilitiesRs 1,549 Cr
Shares outstanding (crore)35.56
Ownership
Promoter holding93.69% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
Not enough history to build valuation bands (needs two years of profits and prices).
PeriodHMTNifty 50Difference
1 week-5.6%-2.8% -2.9 pts
1 month-9.4%-6.8% -2.6 pts
3 months-14.8%-7.6% -7.1 pts
6 months+1.9%+0.4% +1.5 pts
1 year-3.6%-9.9% +6.3 pts
2 years-31.2%-13.6% -17.6 pts
3 years+25.7%+14.2% +11.5 pts
5 years+101.5%+27.9% +73.6 pts

Red flags

F-score 6 of 8
seriousNegative equity Shareholders' equity is negative
explainWeak cash conversion Cash from operations was -37% of net profit over the last 3 years
lookRepeated losses Net loss in each of the last two years
lookAuditor change Auditor change 2026-09-10: HMT Limited has informed the Exchange regarding Change in Auditors of the company.
lookOn NSE surveillance On NSE surveillance: GSM
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 2026
Sales ₹29 Cr +16.0% vs Jun 2025. Net loss ₹29 Cr.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2024-11-14Annual General Meeting
2023-09-22Annual General Meeting
2022-09-22Annual General Meeting
2021-10-21 Annual General Meeting
2020-11-12 Annual General Meeting
2019-09-20 Annual General Meeting
2018-09-18 Annual General Meeting
2017-12-05 Annual General Meeting
2016-12-08 Annual General Meeting
2015-09-18 Annual General Meeting
2014-09-18Annual General Meeting
2012-09-18Annual General Meeting
2011-09-21Annual General Meeting
2010-09-20Annual General Meeting
2009-09-18Annual General Meeting
2008-09-17Annual General Meeting
2007-09-19Agm
2006-11-01Agm
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of the 73rd Annual General Meeting of the Company held on September 30, 2026
2026-09-25General UpdatesCorrigendum & Addendum to the Annual Report (with C&AG Comments & replies thereto) for the Financial Year 2025-26
2026-09-22General UpdatesIntimation regarding Closure of Trading Window for the Quarter and Half-Year ended 30th September 2026.
2026-09-10Change in AuditorsChange in Auditors of the company.
2026-09-08Record DateRecord date for the purpose of Meeting is 23-Sep-2026.
2026-09-08Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-08General UpdatesBook Closure Date from September 24, 2026 to September 30, 2026
2026-08-26Delay/default in the paymentDelay/default in the payment of fines/penalties/dues etc. to authority
2026-08-17AppointmentAppointment of Shri. Dharmender Varada and Smt. Seema Mishra as Non- Executive Independent Directors of the company w.e.f. August 17, 2026.
2026-08-17AppointmentAppointment of Shri. Dharmender Varada and Smt. Seema Mishra as Non- Executive Independent Directors of the company w.e.f. August 17, 2026.
2026-08-14Director changeChange in Director(s) of the company.
2026-08-14Board meeting outcomeHMT Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-29General UpdatesGeneral Updates
2026-07-29Board meeting outcomeHMT Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-07-27UpdatesAnnual Audited Financial Results-31.03.2026.
2026-07-07LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-01General UpdatesGeneral Updates
2026-06-30Change in ManagementChange in Management
2026-06-25General UpdatesGeneral Updates
2026-05-28General UpdatesGeneral Updates
2026-05-26Disclosure under SEBI TakeovHMT Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acqui...
2026-05-22Director changeChange in Director(s) of the company.
2026-05-20General UpdatesDelay in submission of financial results for the financial year ended March 31, 2026
2026-04-27Director changeChange in Director(s) of the company.
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.
Order dateForumCase
2021-01-05NCLTHMT Chinar Watches Ltd Vs :
2020-12-02NCLTHMT Chinar Watches Ltd Vs :
2020-11-11NCLTHMT Bearings Ltd Vs
2020-10-28NCLTHMT Bearings Ltd Vs
2020-10-21NCLTHMT Chinar Watches Ltd Vs :
2020-10-05NCLTHMT Bearings Ltd Vs
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
EPS in the scrip is zero (4 trailing quarters)GSMLess than 100 unique PAN traded in previous 30 daysLoss makingUnder BZ/SZ Series
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03