Hardwyn India Ltd. (IN:HARDWYN)
:HARDWYN
Want to see IN:HARDWYN full AI Analyst Report?
Top Page
Hardwyn India Ltd.
(HARDWYN)
Select Model
Select Model
Rating:64Neutral
Price Target:
₹27.00
▲(37.76% Upside)
Action:Reiterated
Date:05/31/26
The score is driven by solid financial strength (growth and profitability with very low leverage) and supportive technical uptrend. These positives are meaningfully offset by weak/volatile cash conversion and a very high P/E valuation.
Positive Factors
Multi-year revenue scaling & rising net income
Sustained multi-year revenue growth and rising net income show the business is scaling its core hardware sales and gaining commercial traction. A larger, growing revenue base improves resilience, funds reinvestment in distribution and product range, and supports durable operating leverage.
Negative Factors
Volatile and weak cash conversion
Low OCF relative to earnings and a history of negative cash flows point to working-capital swings or timing issues that undermine earnings quality. Persistent cash conversion volatility can limit reinvestment, hurt liquidity in downturns and complicate reliable capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue scaling & rising net income
Sustained multi-year revenue growth and rising net income show the business is scaling its core hardware sales and gaining commercial traction. A larger, growing revenue base improves resilience, funds reinvestment in distribution and product range, and supports durable operating leverage.
Read all positive factors
Hardwyn India Ltd. (HARDWYN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹11.93B
Dividend YieldN/A
Average Volume (3M)44.60K
Price to Earnings (P/E)91.2
Beta (1Y)0.75
Revenue Growth8.27%
EPS Growth17.49%
CountryIN
Employees88
SectorConsumer Defensive
Sector Strength42
IndustryConstruction
Share Statistics
EPS (TTM)0.28
Shares Outstanding488,434,050
10 Day Avg. Volume80,261
30 Day Avg. Volume44,605
Financial Highlights & Ratios
PEG Ratio4.28
Price to Book (P/B)2.42
Price to Sales (P/S)4.92
P/FCF Ratio280.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Hardwyn India Ltd. Business Overview & Revenue Model
Company Description
Hardwyn India Limited, established in 1965 and based in New Delhi, India, operates as a prominent purveyor of architectural hardware and aluminum products. Trading under its "Hardwyn" brand, the company supplies a diverse range of items to both In...
How the Company Makes Money
Hardwyn India Ltd. primarily makes money by manufacturing, sourcing, and selling architectural hardware and related fittings, earning revenue from the sale of its product range to dealers, distributors, retailers, fabricators, and project/contract...
Hardwyn India Ltd. Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
82
Very Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.86B | 2.00B | 1.85B | 1.53B | 1.65B | 845.58M |
| Gross Profit | 297.33M | 226.33M | 262.80M | 237.24M | 209.91M | 95.28M |
| EBITDA | 225.57M | 212.04M | 188.07M | 169.80M | 140.77M | 53.22M |
| Net Income | 138.38M | 132.06M | 112.31M | 102.36M | 92.81M | 34.07M |
Balance Sheet | ||||||
| Total Assets | 4.82B | 4.66B | 4.65B | 4.45B | 4.18B | 570.35M |
| Cash, Cash Equivalents and Short-Term Investments | 20.82M | 20.88M | 20.33M | 950.00K | 1.88M | 980.33K |
| Total Debt | 62.09M | 64.38M | 98.87M | 92.38M | 45.70M | 66.00M |
| Total Liabilities | 756.38M | 541.42M | 663.30M | 579.98M | 409.55M | 416.88M |
| Stockholders Equity | 4.01B | 4.06B | 3.93B | 3.82B | 3.73B | 153.47M |
Cash Flow | ||||||
| Free Cash Flow | 40.99M | 35.09M | 6.82M | -32.64M | -14.16M | -8.75M |
| Operating Cash Flow | 50.68M | 61.99M | 15.60M | 21.38M | -9.98M | -1.77M |
| Investing Cash Flow | -9.70M | -26.90M | -8.78M | -55.72M | -4.18M | -6.98M |
| Financing Cash Flow | -40.49M | -34.48M | -3.89M | 36.96M | 14.61M | 10.90M |
Hardwyn India Ltd. Technical Analysis
Positive
19.60
Price Trends
23.64
Positive
20.44
Positive
17.71
Positive
Market Momentum
0.35
Positive
48.49
Neutral
13.70
Positive
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 19.6 is below the 20-day moving average (MA) of 24.77, below the 50-day MA of 23.64, and above the 200-day MA of 17.71, indicating a neutral trend. The MACD of 0.35 indicates Positive momentum. The RSI at 48.49 is Neutral, neither overbought nor oversold. The STOCH value of 13.70 is Positive, 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
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | ₹11.93B | 91.22 | ― | ― | 8.27% | 17.49% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | ₹8.01B | 27.78 | ― | ― | 62.82% | 149.54% | |
56 Neutral | ₹1.37B | 8.36 | ― | ― | -3.96% | -25.42% | |
54 Neutral | ₹20.95B | 278.87 | ― | 0.23% | -6.49% | -77.93% | |
45 Neutral | ₹5.47B | -5.40 | ― | 0.50% | -17.75% | -2721.49% | |
45 Neutral | ₹3.74B | 341.59 | ― | 0.22% | -18.64% | ― |
* Consumer Defensive Sector Average
IN:HARDWYN
Hardwyn India Ltd.
24.42
9.92
68.41%
IN:APOLLOPIPE
Apollo Pipes Ltd.
475.55
45.74
10.64%
IN:EVERESTIND
Everest Industries Limited
345.00
-137.66
-28.52%
IN:KRITI
Kriti Industries (India) Ltd.
71.00
-72.05
-50.37%
IN:SEJALLTD
Sejal Glass Limited
702.20
192.45
37.75%
IN:TEXMOPIPES
Texmo Pipes & Products Ltd.
46.83
-18.37
-28.17%
Hardwyn India Ltd. Corporate Events
Hardwyn India Launches ISI-Certified Floor Spring, Wins Institutional Orders Across India
Apr 18, 2026
Hardwyn India Ltd. has launched an ISI-certified Floor Spring for frameless glass doors, designed to offer reliable control, smooth closing, and durability for high-traffic environments such as hospitals, universities, and government buildings. Av...
Hardwyn India Says It Does Not Qualify as SEBI-Defined Large Corporate for Debt Issues
Apr 18, 2026
Hardwyn India Limited has notified the stock exchanges that it does not qualify as a “Large Corporate” as of March 31, 2026 under SEBI’s October 2023 circular on fund-raising through debt securities. As a result, the company is n...
Hardwyn India Appoints Pooja Sarkar as Company Secretary and Compliance Officer
Mar 9, 2026
Hardwyn India Limited’s board has approved the appointment of Ms. Pooja Sarkar as Company Secretary and Compliance Officer, effective 9 March 2026, at a meeting held at its registered office. Sarkar, a qualified company secretary with over f...
Hardwyn India Appoints New Company Secretary and Compliance Officer
Mar 9, 2026
Hardwyn India Ltd. has appointed Ms. Pooja Sarkar as its Company Secretary and Compliance Officer with effect from 9 March 2026, following approval by the Board of Directors at a meeting held the same day. Sarkar is a qualified company secretary w...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.