HVAX Technologies Ltd.
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ABOUT
AI Sector View
AI GENERATEDConstruction
Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.
PROS
- Company has a good return on equity (ROE) track record: 3 Years ROE 30.8%
- Company has a healthy return on capital (ROCE) of 26.3%
- Operating margins have improved to 14.2% from 10.9%
- Company comfortably covers its interest (7.1x coverage)
- Attractively priced for its growth - PEG of 0.3
- Company maintains a comfortable, low leverage position
CONS
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.53x)
- Working capital days have increased from 83 to 186 days
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NBCC | 86.60 | 31.48 | 23382.00 | 1.15 | 158.01 | 17.01 | 2259.53 | -5.51 | 41.74 | 6.86 |
| CMPDI | 244.05 | 28.42 | 17425.17 | 1.29 | 1162.70 | — | 4813.70 | — | 38.09 | 30.22 |
| RITES | 215.65 | 24.83 | 10364.22 | 3.69 | 97.78 | 7.58 | 532.20 | 8.67 | 22.99 | 22.45 |
| HVAX | 667.00 | 12.94 | 185.22 | 0.00 | — | — | — | — | 22.44 | — |
| DHRUV | 23.00 | 0.00 | 43.62 | 0.00 | -4.76 | -398.06 | 15.55 | -26.07 | -33.41 | -23.24 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
No quarterly results found
We don't have this information yet. Please check back later.
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 61 | 68 | 96 | 106 | 131 | |
| 55 | 61 | 87 | 93 | 112 | |
| Operating Profit | 5 | 7 | 9 | 13 | 19 |
| OPM % | 8.93% | 10.09% | 8.92% | 12.27% | 14.18% |
| 1 | 1 | 0 | 1 | 0 | |
| Interest | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 2 |
| Profit before Tax | 5 | 6 | 7 | 11 | 15 |
| Tax % | 28.94% | 25.04% | 25.56% | 25.41% | 26.18% |
| Net Profit | 4 | 4 | 5 | 9 | 11 |
| EPS | 60.31 | 67.78 | 84.35 | 124.94 | 39.77 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 24%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 38%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -33%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 36%
- 3 Years:
- 31%
- Last Year:
- 21%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 1 | 3 |
| 7 | 11 | 17 | 30 | 69 | |
| 7 | 10 | 17 | 24 | 28 | |
| Trade Payables | 9 | 8 | 9 | 6 | 16 |
| 13 | 23 | 35 | 2 | 6 | |
| Total Liabilities | 37 | 54 | 78 | 64 | 121 |
| 10 | 8 | 7 | 9 | 8 | |
| 1 | 0 | 1 | 0 | 0 | |
| 3 | 15 | 20 | 20 | 21 | |
| 0 | 0 | 0 | 25 | 71 | |
| Cash & Bank | 3 | 6 | 9 | 5 | 14 |
| 20 | 24 | 42 | 4 | 7 | |
| Total Assets | 37 | 54 | 78 | 64 | 121 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 8 | 1 | -2 | -12 | -22 | |
| Cash from Investing | -4 | 2 | -0 | -2 | 0 |
| Cash from Financing | -3 | 2 | 6 | 10 | 31 |
| -1 | 3 | 2 | -4 | 10 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| PER SHARE | |||||
| EPS (₹) | 60.31 | 67.78 | 84.35 | 124.94 | 39.77 |
| Book Value (₹) | 126.80 | 194.59 | 278.94 | 454.50 | 259.34 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 23.96 | 29.16 | 33.91 | 46.89 | 45.33 |
| PROFITABILITY | |||||
| Operating Margin % | 10.72% | 10.87% | 9.14% | 12.27% | 14.18% |
| Net Margin % | 6.12% | 6.13% | 5.42% | 8.03% | 8.43% |
| ROE % | 47.56% | 42.18% | 35.63% | 35.35% | 21.45% |
| ROCE % | 39.14% | 33.62% | 27.36% | 29.04% | 22.44% |
| 10.08% | 9.21% | 7.88% | 12.02% | 11.95% | |
| EFFICIENCY | |||||
| Debtor Days | 98 | 96 | 99 | 99 | 134 |
| Inventory Days | 17 | 47 | 67 | 69 | 57 |
| Payable Days | 77 | 76 | 51 | 42 | 50 |
| 38 | 68 | 115 | 126 | 141 | |
| FINANCIAL HEALTH | |||||
| Debt to Equity (x) | 0.89x | 0.84x | 0.98x | 0.79x | 0.39x |
| Interest Coverage (x) | 10.36x | 9.90x | 10.94x | 8.24x | 7.06x |
| 1.07x | 1.17x | 1.19x | 1.82x | 2.44x | |
| GROWTH | |||||
| Revenue Growth % | 0.00% | 12.36% | 40.54% | 10.56% | 23.54% |
| Operating Profit Growth % | 0.00% | 14.00% | 18.13% | 64.57% | 31.52% |
| Net Profit Growth % | 0.00% | 12.38% | 24.45% | 63.65% | 29.69% |
| 0.00% | 0.00% | 0.00% | 48.12% | -68.17% | |
| VALUATION | |||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 14.08x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 2.16x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 1.41x | 8.92x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
No announcements filed.
News
Recent coverage and analyst commentary for HVAX
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HVAX Technologies Ltd.
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