HBLENGINE · NSE · Other Industrial Products
HBL Engineering Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Consumer Cyclical
fair
low confidence
No valuation within 120 days; P/E 25.5 vs peers 26.6 (3rd of 8); P/B 7.8 vs peers 5.7 (5th of 9).
Statements through FY2026Prices adjusted for 1 corporate actionNot yet reviewed by the adversarial model
What is HBL Engineering's share price today?
HBL Engineering last traded at ₹730.35 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, down 21.6% over a year. Its 52-week range is ₹613 to ₹1,122. The live price is in the app.
₹730.35
+1.6% today
−21.6% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range23% of the way up
Low ₹613High ₹1,122
What is HBL Engineering's market cap?
HBL Engineering's market capitalisation is about ₹19,932 crore: what it would cost to buy every share at today's price. That makes it the 123rd largest small cap company we cover.
₹19,932 Cr
Small Cap123rd largest small cap company
Share price₹730.35
×
Shares in issue27 crore
=
Market cap₹19,932 Cr
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →
Key facts
From the exchange
- Symbol
- NSE: HBLENGINE
- ISIN
- INE292B01021
- Cap bucket
- Small Cap, 123rd largest by market cap
- Industry (NSE)
- Industrials › Capital Goods › Industrial Products › Other Industrial Products
- Listed since
- 2007
- Futures and options
- Not traded
Is HBL Engineering overvalued?
Fair, with low confidence: no valuation within 120 days; P/E 25.5 vs peers 26.6 (3rd of 8); P/B 7.8 vs peers 5.7 (5th of 9).
Valuation
Latest price and trailing 12 months
P/E
25.52
vs peers 26.6 · 3rd of 8
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B
7.84
vs peers 5.7 · 5th of 9
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap
₹19,932 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield
0.5%
vs peers 0.5% · 2nd of 5
Last year's dividends as a share of today's price. Learn more →
PEG (vendor)
1.60
vs peers 4.5 · 3rd of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth
0.25
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
Is HBL Engineering a quality business?
Quality score 74.2, 3rd of 9 in its peer set; WATCH on 30 of 30 flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score
74.2
vs peers 53.5 · 3rd of 9
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level
WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →
Profitability
ROE
43.9%
vs peers 14.8% · 2nd of 9
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE
55.6%
vs peers 19.3% · 2nd of 9
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin
23.0%
vs peers 9.3% · 1st of 8
Profit after everything, as a share of revenue. Learn more →
EPS
₹29.38
Trailing 12 months
Profit for each share over the last 12 months.
Inside the app
Get a sneak peek of Valarth
Has HBL Engineering made money for shareholders?
Not over these periods: −21.6% over one year.
Shareholder returns
5-year return
Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer
Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →
Returns
3Y and 5Y are yearly averages
1W
−5.8%1M
−0.1%3M
−6.2%6M
−4.4%1Y
−21.6%3Y
—5Y
—— not available
Does HBL Engineering pay a dividend?
Yes. HBL Engineering's dividend yield is 0.49% at the latest price; the last payout was ₹1.00 a share, ex-dividend 11 Sep 2026.
Dividends
Per share, by ex-dividend date
Dividend yield0.49%
The past 12 months' dividends as a share of today's price.
11 Sep 2026 · Final₹1.00
13 Feb 2026 · Interim₹2.00
12 Sep 2025 · Final₹1.00
13 Sep 2024 · Final₹0.50
15 Sep 2023 · Final₹0.45
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.
Is HBL Engineering growing?
Revenue 3 years 34.4% a year; profit 3 years 102.2% a year; revenue 5 years 21.7% a year.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
34.4% a year
vs peers 10.3% · 1st of 6
Compound annual growth of revenue over three years. Learn more →
Profit 3 years
102.2% a year
vs peers 15.1% · 1st of 6
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years
21.7% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years
52.8% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years
102.2% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years
126.3% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history
-52.4%
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
How did HBL Engineering do last quarter?
HBL Engineering reported revenue of ₹638 Cr, up 67.9% on a year earlier and a net profit of ₹111 Cr, up 194.6% in the Jun 2026 quarter.
Latest quarter
Jun 2026
Revenue, latest quarter₹638 Cr
+67.9% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹111 Cr
+194.6% on a year earlier
What was left for shareholders after every cost and tax.
How does HBL Engineering compare with its peers?
Compared with 8 Other Industrial Products; 3rd of 8 on P/E; 3rd of 9 on quality score.
Compared with 8 Other Industrial Products
8 companies
- HBL Engineering Ltd (this page)
- Inox India Ltd
- KRN Heat Exchanger and Refrigeration Ltd
- Esab India Ltd
- Subros Ltd
- WPIL Ltd
- Harsha Engineers International Ltd
- Aimtron Electronics Ltd
- Ador Welding Ltd
HBL Engineering against its peers
Largest 8 of 8 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
HBL Engineering Ltd₹19,932 Cr25.57.843.9%55.6%−21.6%
Inox India Ltd₹18,669 Cr73.29.324.8%32.0%+72.6%
KRN Heat Exchanger and Refrigeration Ltd₹9,073 Cr89.49.313.4%16.1%+63.2%
Esab India Ltd₹8,304 Cr37.417.852.3%66.8%+10.0%
Subros Ltd₹4,415 Cr26.63.314.2%18.0%−35.8%
WPIL Ltd₹4,209 Cr24.83.412.5%15.1%−2.8%
Harsha Engineers International Ltd₹4,024 Cr26.02.013.1%17.1%+13.1%
Aimtron Electronics Ltd₹3,720 Cr—7.920.4%29.0%+138.6%
Ador Welding Ltd₹2,575 Cr22.72.715.3%20.6%+42.1%
Peer median—26.65.714.8%19.3%+27.6%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.
Who owns HBL Engineering?
HBL Engineering is held by promoters 59.1%, foreign institutions 5.6%, domestic institutions 1.0%.
Shareholding pattern
Latest filing, percent of shares
Promoters59.1%
The founders and controlling group.
Foreign institutions5.6%
Overseas funds investing through the FPI route.
Domestic institutions1.0%
Indian insurers, banks, pension and mutual funds together.
Mutual funds0.3%
Indian mutual fund schemes; part of domestic institutions.
Retail and others27.3%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.
What does HBL Engineering do and what is it sensitive to?
The company designs, develops and manufactures specialized batteries, electronics and other engineering products in India, with customers including Railways, Telecom/Industry, Defence and exporters. Sensitive to: exchange rate (consolidated group).
Business-model card
FY2025 · 36 verified
4Revenue
5Channels
1Regulators
4Reg. dependencies
4Sensitivities
2Costs
3Geographies
The company designs, develops and manufactures specialized batteries, electronics and other engineering products in India, with customers including Railways, Telecom/Industry, Defence and exporters. It earns mainly from product sales, with service income and scrap sales as smaller lines.
Revenue by segment
Year ended March 31, 2025 (consolidated, Ind AS 108 segment note)
Batteries - Exports18.4%
Batteries - Domestic sales54.3%
Defence & Aviation - Exports4.5%
Defence & Aviation - Domestic sales7.3%
Electronics - Exports0.6%
Electronics - Domestic sales14.9%
Revenue engine
4 verified
Battery segment
Reportable segment for batteries. The FY2025 standalone battery customer revenue is stated as 1,38,246.62 lakhs (within India and export). Interpretation: the excerpt does not state a share, so share_pct is left null.
Electronics & Others segment
Reportable segment labelled Electronics & Others. The FY2025 standalone revenue for this line is stated as 56,366.63 lakhs. Interpretation: it covers electronics, drive-train and other items, and the excerpts do not split these further.
Sale of products (consolidated)
Largest consolidated revenue line, stated as 1,70,292.14 lakhs for FY2025 against 1,87,116.85 lakhs for FY2024.
1 more statement
Sale of services (consolidated)
Stated as 25,073.45 lakhs for FY2025 against 35,007.23 lakhs for FY2024. Interpretation: the excerpts do not say what the service work consists of.
Customers & channels
5 verified
Top five customers (22.6%)
Stated share of revenue from the top five customers in FY2025 (28.53% in FY2024). Interpretation: this shows concentration in a small customer group.
Telecom/Industry market
The company says it is not participating in the lithium opportunity for the telecom market, which is a named customer group in the revenue table. The reason given is unattractive price levels and warranty risk.
Defence and Aviation customers
Company says it provides services to the Defence & Aviation industry and uses email, weblinks, customer care numbers and channel sales dealers to communicate with customers.
2 more statements
Export customers (OEMs and EPCs)
The company says new OEM and EPC customers increased volume across geographies, especially the Middle East. Standalone export sales are stated as 452 crores for March 2025.
Dealers and importers (channel sales)
Business partners are engaged through dealer channel sales and coordinating units of importers, and the company says this is to service present customers and grow potential.
Regulators
1 verified
Government and Regulatory Bodies
Permissions, licences and business development approvals are obtained from these bodies. The excerpt names no specific authority.
Regulatory dependencies
4 verified
Provision for EPR expenses
A cost line in selling expenses, stated as 1,089.89 lakhs in FY2025 standalone. Interpretation: EPR is a producer-responsibility obligation, so a higher obligation would raise selling costs and reduce margin unless passed through.
Government subsidies for EVs
The company says earlier EV demand was led by government subsidies, and that its own strategy should not depend on subsidies. Interpretation: removal of subsidies would hit EV-linked demand and not HBL's chosen model, which the company says is based on use-case economics.
ESG obligations
Company states ESG obligations are rising each year and that companies are evaluated on contributions reported annually. Interpretation: stricter ESG rules would raise reporting cost and could favour electric drive-trains as a secondary benefit.
1 more statement
Foreign Exchange Management Act, 1999
Governs foreign direct investment, overseas direct investment and external commercial borrowings. The company says it has no foreign direct investment (other than permitted portfolio holdings) and no external commercial borrowings, so this rule limits foreign funding routes.
Sensitivities
4 verified
Exchange rate (consolidated group)
Company states the group's results are affected as the local currency appreciates or depreciates against foreign currencies. The excerpt also states depreciation/appreciation produced incremental operating margins of about 1,039.28 lakhs in FY2025 on unhedged exposures.
Interest rates on borrowings
Interest rate risk on borrowings is named as a liquidity risk. Interpretation: a rise in rates increases finance cost, with finance cost stated at 1,302.13 lakhs in FY2025.
Lithium-ion vs lead-acid price
Company states lithium-ion cells are price competitive with industrial VRLA lead batteries. Interpretation: a fall in lithium-ion prices would speed substitution away from VRLA, and a rise would slow it.
1 more statement
Customer credit risk
Company states trade receivables are typically unsecured. Interpretation: customer payment delays or defaults would hit cash flow directly, and expected credit loss was 824.83 lakhs at March 2025.
Cost inputs
2 verified
Imported lithium-ion cells
Lithium packs are assembled from imported cells, with marginal value added through BMS and racks. Interpretation: cell cost and import dependence drive the cost of this line.
Freight and insurance on sales
Stated as 3,833.13 lakhs in FY2025 selling expenses (4,663.16 lakhs in FY2024). Interpretation: this is a delivery cost that moves with volumes and shipping distance.
Geographies
3 verified
Export markets (APAC, Africa, Europe)
Company says it will increase on-ground market development efforts in these regions in FY2026.
Middle East
Company says new customer engagement increased volumes here, more so than in other regions.
India and overseas customers
Trade receivables derive from customers primarily located in India and overseas.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Dividend - Re 1 Per Share (11 Sep 2026).
Change log
8 entries · newest first
- Corporate actionDividend - Re 1 Per Share.
- Results filedQ1 FY2027 results filed.
- Results filedQ4 FY2026 results filed.
- Corporate actionInterim Dividend - Rs 2 Per Share.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Corporate actionDividend - Re 1 Per Share.
- Results filedQ1 FY2026 results filed.
Get alerts →Sign in to be told when any of these change.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
- FlagsWATCH on 30 of 30 flags judged; 1 red.
- Data gapsBusiness quality, 5-year return, Wealth destroyer: not available yet.
What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓183 months of month-end prices, adjusted for bonuses and splits (1 corporate action)○no valuation of ours yet✓business-model card FY2025 · 36 verified
Questions people ask
What is HBL Engineering's share price today?
HBL Engineering last traded at ₹730.35 on the NSE, as of 12 Oct 2026, 11:00 pm IST, up 1.6% on the day, down 21.6% over a year. Its 52-week range is ₹613 to ₹1,122. The live price is in the app.
What is HBL Engineering's market cap?
HBL Engineering's market capitalisation is about ₹19,932 crore: what it would cost to buy every share at today's price. That makes it the 123rd largest small cap company we cover.
Is HBL Engineering Ltd a large cap, mid cap or small cap?
HBL Engineering Ltd (HBLENGINE) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is HBL Engineering Ltd's P/E ratio?
25.52, vs peers 26.6 · 3rd of 8. Price divided by last year's earnings per share: how many years of today's profit you pay for.
Is HBL Engineering Ltd overvalued?
Fair, with low confidence: no valuation within 120 days; P/E 25.5 vs peers 26.6 (3rd of 8); P/B 7.8 vs peers 5.7 (5th of 9).
How does HBL Engineering Ltd make money?
The company designs, develops and manufactures specialized batteries, electronics and other engineering products in India, with customers including Railways, Telecom/Industry, Defence and exporters. It earns mainly from product sales, with service income and scrap sales as smaller lines.
Who are HBL Engineering Ltd's peers?
Compared with 8 Other Industrial Products: Inox India Ltd, KRN Heat Exchanger and Refrigeration Ltd, Esab India Ltd, Subros Ltd, WPIL Ltd and 3 more. The app shows how they compare on every figure.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.
How did HBL Engineering do last quarter?
HBL Engineering reported revenue of ₹638 Cr, up 67.9% on a year earlier and a net profit of ₹111 Cr, up 194.6% in the Jun 2026 quarter.
Who owns HBL Engineering?
HBL Engineering is held by promoters 59.1%, foreign institutions 5.6%, domestic institutions 1.0%.
Does HBL Engineering pay a dividend?
Yes. HBL Engineering's dividend yield is 0.49% at the latest price; the last payout was ₹1.00 a share, ex-dividend 11 Sep 2026.