Mukul Agrawal holds 1.46% stake: Hind Rectifiers Ltd reports robust financial performance driven by sustained business momentum!
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The stock is up by 77 per cent from its 52-week low and has given multibagger returns of 850 per cent in 5 years.
Hind Rectifiers Limited has reported a landmark financial performance for the third quarter and nine months ending December 31, 2025, highlighted by its highest-ever quarterly revenue. For Q3FY26, the company achieved a 64.2 per cent year-on-year increase in revenue to Rs 277.4 crore, while its nine-month revenue surged by 52.9 per cent to Rs 719.3 crore. This growth was primarily fuelled by heavy demand for traction Transformers and power electronics from Indian Railways. Profitability followed a similar upward trajectory, with consolidated PAT for the nine months rising by 49.3 per cent to Rs 40.5 crore, despite a slight moderation in EBITDA margins caused by expansion investments and rising raw material costs.
Strategically, the company is focusing on vertical integration and leadership to sustain this momentum. A major highlight of the quarter was the operational commencement of the copper conductor plant in Sinnar, which allows the company to use in-house manufactured materials for its railway transformers. This backward integration is expected to enhance cost efficiency, reduce lead times and mitigate supply chain penalties. Furthermore, the company has strengthened its executive ranks by appointing Mr Douglas J. Bailey as Global CEO, signalling a clear intent to scale its international operations and integrate with BeLink Solutions to explore European markets in the railway and Defence sectors.
Looking ahead, Hind Rectifiers is well-positioned with a robust Order Book valued at Rs 1,013 crore as of December 2025. This pipeline is supported by strong government tailwinds, including continued investment in railway electrification and defence indigenisation. To share this success with investors, the Board of Directors has approved a 1:1 bonus share issuance, a move intended to improve share liquidity and reward long-term shareholders. Management remains confident that the combination of disciplined execution, strategic capacity expansion and a favourable domestic infrastructure environment will continue to drive value creation through FY27.
About the Company
Hind Rectifiers Ltd (HIRECT) was established in 1958 in partnership with Westinghouse, Brake & Signal, UK. It has grown over the past 66 years to become a major player in the engineering and manufacturing sectors. HIRECT operates with a workforce of 950 employees spread across two manufacturing plants located at Nashik and Bhandup in India. The company exports its products to over 30 countries and has offices located in India, Sweden and the UAE. HIRECT is renowned for designing and manufacturing a wide range of power electronics equipment, including Power Converters, Control Electronics, Transformers, Rectifiers, Inverters, Motors and HVAC systems. These products serve a variety of sectors, including Railways, Defence and industries such as Power, Hydrogen, Steel, Cement, Chemical and Paper, among others. The company is recognised for its quality and innovation in providing solutions for both industrial and transportation applications.
The company has a market cap of Rs 2,350 crore and an Ace Investor, Mukul Agrawal, owns 2,50,000 shares or a 1.45 per cent stake in the company. The stock is up by 77 per cent from its 52-week low and has given multibagger returns of 850 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.