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HBL Engineering Limited
(HBLENGINE)
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Rating:67Neutral
Price Target:
₹763.00
▲(3.74% Upside)
Action:Reiterated
Date:08/24/26
The score is driven primarily by strong financial performance (rapid multi-year revenue and net income growth) supported by a low-leverage balance sheet, partially offset by historically volatile cash-flow and margin/cash-conversion consistency. Technicals currently weigh on the score due to the stock trading below key moving averages with negative MACD, while valuation is mixed with a ~24.9 P/E and a low ~0.43% dividend yield.
Positive Factors
Sustained Revenue and Profit Growth
The multi-year expansion in revenue and net income indicates strong business scaling and improving earnings capacity. FY2026 revenue growth of 96.0% reinforces the company’s ability to capture demand and expand its operating base.
Negative Factors
Volatile Cash Conversion
Despite the FY2026 rebound, inconsistent conversion of earnings into cash raises questions about the durability and quality of reported profits. Recurring volatility could constrain internally funded growth and increase working-capital dependence.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue and Profit Growth
The multi-year expansion in revenue and net income indicates strong business scaling and improving earnings capacity. FY2026 revenue growth of 96.0% reinforces the company’s ability to capture demand and expand its operating base.
Read all positive factors
HBL Engineering Limited (HBLENGINE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹191.33B
Dividend Yield0.43%
Average Volume (3M)101.38K
Price to Earnings (P/E)24.5
Beta (1Y)1.66
Revenue Growth62.97%
EPS Growth129.72%
CountryIN
Employees2,152
SectorGeneral
Sector StrengthN/A
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)15.59
Shares Outstanding277,194,950
10 Day Avg. Volume142,427
30 Day Avg. Volume101,384
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)7.70
Price to Sales (P/S)5.16
P/FCF Ratio28.11
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)17.74
Revenue Forecast (FY)₹35.12B
HBL Engineering Limited Business Overview & Revenue Model
Company Description
HBL Engineering Ltd. is a global manufacturer and distributor of various battery types and specialized products, serving both Indian and international clientele. The company's operations are divided into key segments: industrial batteries, defense...
How the Company Makes Money
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HBL Engineering Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.85B | 33.03B | 19.54B | 22.33B | 13.69B | 12.13B |
| Gross Profit | 7.44B | 16.12B | 62.86M | 8.74B | 5.36B | 3.19B |
| EBITDA | 6.29B | 11.13B | 4.25B | 4.23B | 1.70B | 1.64B |
| Net Income | 4.32B | 8.15B | 2.77B | 2.81B | 986.53M | 939.02M |
Balance Sheet | ||||||
| Total Assets | 26.77B | 29.42B | 19.79B | 16.54B | 12.94B | 11.33B |
| Cash, Cash Equivalents and Short-Term Investments | 3.41B | 6.92B | 2.03B | 2.29B | 1.56B | 896.00M |
| Total Debt | 872.40M | 668.70M | 742.95M | 674.62M | 860.21M | 626.07M |
| Total Liabilities | 6.92B | 7.28B | 4.97B | 4.34B | 3.43B | 2.67B |
| Stockholders Equity | 19.85B | 22.14B | 14.83B | 12.21B | 9.51B | 8.66B |
Cash Flow | ||||||
| Free Cash Flow | 2.14B | 6.06B | 10.92M | 2.20B | 585.59M | -56.59M |
| Operating Cash Flow | 3.74B | 7.57B | 28.78M | 2.73B | 1.22B | 624.69M |
| Investing Cash Flow | -3.47B | -2.33B | -38.72M | -1.39B | -497.13M | -167.67M |
| Financing Cash Flow | -53.62M | -1.13B | -2.52M | -342.71M | -95.56M | 223.22M |
HBL Engineering Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹114.33B | 36.03 | ― | 1.09% | 17.84% | -2.60% | |
73 Outperform | ₹41.02B | 41.18 | ― | ― | 21.99% | 28.74% | |
67 Neutral | ₹191.33B | 24.48 | ― | 0.42% | 62.97% | 129.72% | |
64 Neutral | ₹90.71B | 34.80 | ― | 0.07% | 14.60% | -0.37% | |
59 Neutral | ₹276.93B | 150.64 | ― | ― | 9.56% | -29.50% | |
58 Neutral | ₹26.89B | 24.10 | ― | 1.39% | 18.29% | -18.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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HBL Engineering Limited Corporate Events
HBL Engineering Board Clears Q1 Results and Sets Key Dates for Dividend and AGM
Aug 8, 2026
HBL Engineering Limited’s board has approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, with auditors issuing an unmodified opinion. This signals operational and financial stability, and ...
HBL Engineering Confirms No Deviation in Use of Share Issue Proceeds
May 28, 2026
HBL Engineering Limited reported that there was no deviation or variation in the utilization of funds previously raised through share issuances for the quarter ended March 31, 2026. The company confirmed that all proceeds were used in line with th...
HBL Engineering Flags Strong FY26 Results and Signals Cautious Growth Outlook for FY27
May 24, 2026
HBL Engineering Limited informed shareholders that its financial performance in FY26 was significantly better than in FY25, aligning with expectations set as early as September 2025. However, while Q4 FY26 sales exceeded those of Q4 FY25, profitab...
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.