The Hi-Tech Gears Ltd.

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hitechgears.comBSE: 522073NSE: HITECHGEAR

Market Cap₹ 1,089 Cr.

Current Price

High / Low₹ 897 / 521

Stock P/E55.2

Book Value₹ 280

Price to Book1.95

Dividend Yield0.69 %

ROCE8.4 %

ROE4.2 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.01x)
Company has been maintaining a healthy dividend payout of 35.9%
Company generates healthy free cash flow
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 37.2% versus prior year
A large part of profit comes from other income (43.2% of PBT)
Receivables are growing faster than sales - a possible quality concern
Company has delivered a poor profit growth of -6.1% over past five years
Valuation is stretched - P/E of 55.2 is well above its own 5-year median (28.2)
Company has delivered a poor sales growth of 4.0% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MOTHERSON	164.00	39.52	173092.86	0.37	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48602.60	60.66	143358.71	0.56	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1223.50	58.77	70653.11	0.22	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2650.00	84.58	51296.66	0.13	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	803.10	72.02	50123.75	0.42	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2716.60	39.40	38212.47	0.42	244.52	8.03	4314.89	30.01	18.33	12.42
7.	CRAFTSMAN	11852.65	66.68	30999.93	0.09	150.55	116.31	2431.58	36.30	14.65	15.81
8.	ZFCVINDIA	2528.05	57.63	28770.60	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
9.	SANSERA	4107.40	73.56	25631.64	0.10	87.36	38.71	1021.26	33.27	14.29	19.18
10.	MSUMI	36.32	38.39	24086.20	1.60	1453.20	915.51	34072.60	1273.43	43.72	7.58
11.	GABRIEL	1340.50	79.82	23757.68	0.37	1081.26	925.35	14256.83	1055.00	26.37	11.71
12.	HITECHGEAR	578.85	55.19	1089.40	0.69	4.76	-20.67	237.69	12.85	8.39	11.08

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	258	278	268	281	255	241	201	210	211	235	219	224	238
	230	248	232	246	220	211	179	182	189	213	202	203	233
Operating Profit	28	29	35	35	35	30	22	29	21	22	17	20	5
OPM %	10.74%	10.47%	13.25%	12.32%	13.86%	12.36%	10.98%	13.59%	10.08%	9.46%	7.98%	9.07%	2.16%
	3	78	2	3	2	2	3	4	5	2	3	4	1
Interest	9	14	8	7	6	6	5	4	4	4	4	4	4
Depreciation	15	15	15	16	16	16	16	16	16	17	18	16	17
Profit before Tax	12	85	20	21	21	15	9	17	11	10	3	10	6
Tax %	24.33%	14.74%	24.46%	15.86%	33.22%	38.21%	21.66%	43.65%	42.91%	37.29%	72.84%	19.20%	25.49%
Net Profit	0	0	0	0	14	10	7	10	6	6	1	8	5
	4.95	38.48	7.95	9.49	7.58	5.09	3.66	5.17	3.19	3.20	0.46	4.32	2.53

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	471	749	914	722	746	971	1,169	1,107	927	908	916
	415	654	800	638	656	889	1,028	957	791	807	850
Operating Profit	56	95	113	84	90	82	141	150	136	101	65
OPM %	11.94%	12.64%	12.39%	11.59%	12.06%	8.42%	12.09%	13.55%	14.66%	11.13%	7.11%
	7	20	17	11	10	8	8	87	12	14	11
Interest	4	24	29	33	23	26	33	38	21	15	15
Depreciation	26	39	42	43	43	52	82	61	63	67	68
Profit before Tax	33	52	59	19	34	11	34	138	63	33	29
Tax %	38.18%	33.53%	39.21%	56.40%	15.36%	110.10%	31.90%	17.17%	35.69%	36.97%	32.29%
Net Profit	20	34	36	8	29	-1	23	114	40	21	20
EPS	10.73	18.25	18.96	4.41	15.34	-0.59	12.30	60.84	21.48	11.15	—
Dividend Payout %	23.30%	19.18%	18.46%	34.02%	13.04%	-255.45%	20.30%	8.22%	23.28%	35.87%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 4%
3 Years:: -8%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: -6%
3 Years:: -3%

STOCK PRICE CAGR

10 Years:: 7%
5 Years:: 15%
3 Years:: 13%
1 Year:: -17%

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 9%
3 Years:: 14%
Last Year:: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	19	19	19	19	19	19	19	19	19	19
	183	222	253	257	302	312	335	447	464	503
	322	347	404	302	374	414	373	260	177	163
Trade Payables	57	76	97	94	112	143	121	108	84	101
	111	100	111	139	115	114	149	93	77	65
Total Liabilities	692	764	884	812	922	1,002	996	926	821	851
	403	423	444	446	468	528	496	462	445	436
Capital Work in Progress	11	13	19	34	71	38	13	4	1	7
	0	0	4	8	10	12	12	12	1	1
	56	67	107	85	91	116	123	124	125	141
	0	0	0	0	0	0	0	200	153	173
Cash & Bank	70	41	59	70	77	87	80	54	36	35
	151	219	251	169	205	221	272	70	59	58
Total Assets	692	764	884	812	922	1,002	996	926	821	851

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	68	37	61	192	51	70	75	117	149	86
Cash from Investing	-119	-72	-85	-40	-51	-56	-41	143	-1	-34
Cash from Financing	26	18	60	-151	25	11	-41	-280	-150	-57
	-40	-39	22	-7	12	10	-27	-19	-3	-5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.23	56.23	56.23	56.18	56.18	56.18	56.18	56.12	56.12
	0.01	0.00	0.00	0.01	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02
	43.75	43.75	43.75	43.79	43.80	43.80	43.80	43.86	43.86

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-29

Resignation of Director/KMP/SMP

2026-08-29 - The Hi-Tech Gears Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-29

Resignation of Director/KMP/SMP

2026-08-29 - The Hi-Tech Gears Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-29

Resignation

2026-08-29 - The Hi-Tech Gears Limited has informed the Exchange regarding Resignation of Mr. Naveen Jain as Company Secretary & Compliance Officer of the company w.e.f. August 29, 2026.

2026-08-29

Cessation

2026-08-29 - The Hi-Tech Gears Limited has informed the Exchange regarding Cessation of Mr Naveen Jain as Company Secretary & Compliance Officer of the company w.e.f. August 29, 2026.

2026-08-22

Copy of Newspaper Publication

2026-08-22 - The Hi-Tech Gears Limited has informed the Exchange about Copy of Newspaper Publication regarding 40th AGM Notice and E-voting Information

2026-08-21

Shareholders meeting

2026-08-21 - The Hi-Tech Gears Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026

2026-08-20

Corporate Insolvency Resolution Process

2026-08-20 - The Hi-Tech Gears Limited has informed the Exchange about Corporate Insolvency Resolution Process

2026-08-19

Copy of Newspaper Publication

2026-08-19 - The Hi-Tech Gears Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-12

Record Date

2026-08-12 - The Hi-Tech Gears Limited has informed the Exchange that, in continuation to our letter dated August 06, 2026, the Record date for the purpose of Dividend is 15-Sep-2026.

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