Hardwyn India Ltd. (HARDWYN) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: N/A
• Average Volume (3M): 44.60K
• Price to Earnings (P/E): 44.3
• Beta (1Y): 1.16
• Revenue Growth: 18.93%
• EPS Growth: 29.21%
• Country: IN
• Employees: 88
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Construction
• EPS (TTM): 0.07
• Shares Outstanding: 488,434,050
• 10 Day Avg. Volume: 80,261
• 30 Day Avg. Volume: 44,605
• PEG Ratio: -2.51
• Price to Book (P/B): 1.48
• Price to Sales (P/S): 3.16
• P/FCF Ratio: 853.66
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 68 Neutral
• Price Target: ₹15.50 ▲(10.01% Upside)

Hardwyn India Ltd. demonstrates strong financial performance with significant revenue growth and solid equity. However, technical indicators suggest mixed signals, and the high P/E ratio indicates overvaluation. The absence of dividend yield further impacts the valuation negatively.

Hardwyn India Ltd. Business Overview & Revenue Model

Company Description

Hardwyn India Limited engages in the trading of aluminum products under the Hardwyn brand in India and internationally. The company's products include door closers, floor springs, glass patch fittings, point fixed architectural fittings, shower enclosure fittings, shower hinges, plastic profiles, mortise handle and locks, spider fittings, shower sliding system, motion gate series, automatic and shower doors, stainless steel railings and balustrades, brass and zinc handles, cylindrical and furniture locks, telescopic channels, and electronic safes, as well as bathroom accessories and aluminum profile products. It serves architects, builders, fabricators, interior decorators, corporate houses, and government contractors. The company was formerly known as Garv Industries Limited and changed its name to Hardwyn India Limited in January 2020. Hardwyn India Limited was founded in 1965 and is based in New Delhi, India.

How the Company Makes Money

Hardwyn India Ltd. generates revenue through the sale of its extensive range of architectural hardware products. The company’s revenue model is primarily based on direct sales to retailers, wholesalers, and construction firms, as well as through online platforms. Key revenue streams include bulk orders from construction projects, retail sales through hardware stores, and strategic partnerships with builders and architects. Additionally, Hardwyn invests in branding and marketing initiatives to enhance visibility and expand its customer base, which significantly contributes to its earnings.

Hardwyn India Ltd. Financial Statement Overview

Summary

Hardwyn India Ltd. exhibits robust financial performance with strong revenue growth and improved profitability. The balance sheet is solid, with substantial equity and manageable debt levels. However, cash flow variability presents a challenge. Overall, the company's financial health is commendable, with opportunities for further growth leveraging its solid equity base.

Income Statement

Hardwyn India Ltd. has shown strong revenue growth over recent years, with a notable increase from ₹845.6 million in 2022 to ₹1,846 million in 2025. Gross profit margins have been stable, averaging around 14-15% in recent years, while net profit margin has improved, reaching 6.1% in 2025. EBIT and EBITDA margins are favorable, indicating effective cost management and operational efficiency.

Balance Sheet

The company maintains a healthy equity position with a high equity ratio of around 84.6% in 2025, indicating financial stability. However, the debt-to-equity ratio, while relatively low at 0.025, suggests the company could potentially leverage more for growth. Return on equity has improved, reaching 2.85% in 2025, reflecting enhanced shareholder value creation.

Cash Flow

The operating cash flow has been inconsistent, with a significant drop in 2025 to ₹15.6 million. Despite this, free cash flow turned positive in 2025 at ₹6.8 million, recovering from previous negative figures. The free cash flow to net income ratio indicates improvements in cash generation relative to profitability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2022	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.87B	1.85B	1.53B	845.58M	1.65B	577.43M
Gross Profit	293.52M	262.80M	237.24M	95.28M	209.91M	38.76M
EBITDA	220.70M	188.07M	169.80M	53.22M	140.77M	23.69M
Net Income	135.25M	112.31M	102.36M	34.07M	92.81M	15.36M
Balance Sheet
Total Assets	0.00	4.65B	4.45B	570.35M	4.18B	389.83M
Cash, Cash Equivalents and Short-Term Investments	20.33M	20.33M	950.00K	980.33K	1.88M	1.06M
Total Debt	0.00	98.87M	92.38M	66.00M	45.70M	49.29M
Total Liabilities	-3.99B	663.30M	579.98M	416.88M	409.55M	270.43M
Stockholders Equity	3.99B	3.93B	3.82B	153.47M	3.73B	119.40M
Cash Flow
Free Cash Flow	0.00	6.82M	-32.64M	-8.75M	-14.16M	-37.58M
Operating Cash Flow	0.00	15.60M	21.38M	-1.77M	-9.98M	-35.96M
Investing Cash Flow	0.00	-8.78M	-55.72M	-6.98M	-4.18M	-1.62M
Financing Cash Flow	0.00	-3.89M	36.96M	10.90M	14.61M	46.92M

Hardwyn India Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 14.09
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HARDWYN, the sentiment is Positive. The current price of 14.09 is above the 20-day moving average (MA) of 12.95, above the 50-day MA of 13.33, and above the 200-day MA of 13.89, indicating a bullish trend. The MACD of -0.10 indicates Negative momentum. The RSI at 60.79 is Neutral, neither overbought nor oversold. The STOCH value of 72.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HARDWYN.

Hardwyn India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HARDWYN	68 Neutral	―	44.28	―	―	18.93%	29.21%
TEXMOPIPES	63 Neutral	₹1.58B	8.50	―	―	-15.89%	682.75%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
EVERESTIND	60 Neutral	₹10.45B	104.00	―	0.39%	5.43%	-209.44%
APOLLOPIPE	58 Neutral	₹14.63B	50.89	―	0.22%	10.92%	-36.77%
SEJALLTD	56 Neutral	₹8.22B	42.00	―	―	46.74%	281.49%
KRITI	44 Neutral	₹6.32B	206.34	―	0.17%	-18.41%	-139.53%