Hindusthan Insulators & Industries Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Hindusthan Insulators & Industries Ltd trades at ₹1,272, in a confirmed uptrend and 13 weeks into that stage. That is +115.0% against its own 200-day average. It sits at 100% of a 52-week range of ₹380 to ₹1,272. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 20 straight weeks.

Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹1,272 it trades +115.0% versus its 200-day average and sits at 100% of its 52-week range (₹380–₹1,272).

Against the market, two honest reads. Cumulative: over the last 9.9 years the stock moved +403% while the NIFTY 500 moved +222% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 20 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 2nd percentile of its own range.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Hindusthan Insulators & Industries Ltd trades at 36.9× P/E, about the cheapest it has ever traded. Its long-run median P/E is 88.2×, measured across 5.3 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 36.9× is about the cheapest it has ever traded, against a long-run median of 88.2× measured over 5.3 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

The price move, decomposed: over 5y, of the +12.3%/yr price move, ~+103.0%/yr came from earnings growth and ~−90.7 pp from the multiple (compressing). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Hindusthan Insulators & Industries Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 9 quarters across 2 curves, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

50.1/100 — rank 11 of 14 in Electric Equipment - General · 44% evidence confidence · provisional, ranked below fully-evidenced peers

Hindusthan Insulators & Industries Ltd scores 50.1 out of 100 against the 14 companies it is compared with in Electric Equipment - General, ranking 11. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 14.6 + 5.5 + 10 + 20 = 50.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Hindusthan Insulators & Industries Ltd reported ₹115 Cr of revenue in the Jun 25 quarter, −21.2% year on year. Over 10 years it has compounded at −3.6% a year. The last full year, FY25, came in at ₹546 Cr. The last four reported quarters add to ₹515 Cr.

Hindusthan Insulators & Industries Ltd reported ₹115 Cr of revenue in the Jun 25 quarter, −21.2% year on year. Over 10 years it has compounded at −3.6% a year. The last full year, FY25, came in at ₹546 Cr. The last four reported quarters add to ₹515 Cr.

FY25 revenue came in at ₹546 Cr (+3.4% on the year), capping 10 years at −3.6% compound. The latest quarter (Jun 25) printed ₹115 Cr, −21.2% year on year.

Pace check: the last four quarters averaged −9.7% growth against the decade's −3.6% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −10.3% over the last 4 quarters against −2.0%/yr over the last 8 — rolling over.

→ Revenue slipped — did margins hold as it scaled? Next: 1.0% this quarter (−3.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Hindusthan Insulators & Industries Ltd's operating margin is 1.0% in the Jun 25 quarter, −3.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −4.0% to 11.0%. The current quarter sits inside that band.

Hindusthan Insulators & Industries Ltd's operating margin is 1.0% in the Jun 25 quarter, −3.0 percentage points against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −4.0% to 11.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 1.0%, −3.0 pp against the same quarter a year ago. Across 12 fiscal years the operating margin has ranged −4.0%–11.0%.

🚨 Why the margin moved: operating margin went −3.3 pp year on year while gross margin went +5.7 pp — the loss came mostly from the gross line: input costs and pricing.

→ Margins slipped — did that reach the bottom line? Next: profit null in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Hindusthan Insulators & Industries Ltd posted a net loss of ₹23.0 Cr in the Jun 25 quarter. The full FY25 year was a loss of ₹30.0 Cr. That loss is 20.0% of the quarter's revenue. The same quarter a year earlier lost ₹8.0 Cr. 11 of the last 12 reported quarters were loss-making.

Hindusthan Insulators & Industries Ltd posted a net loss of ₹23.0 Cr in the Jun 25 quarter. The full FY25 year was a loss of ₹30.0 Cr. That loss is 20.0% of the quarter's revenue. The same quarter a year earlier lost ₹8.0 Cr. 11 of the last 12 reported quarters were loss-making.

Jun 25 profit was ₹−23.0 Cr, null year on year. On the full year, FY25 printed ₹−30.0 Cr (null).

→ Profit rose — but did the cash follow? Next: 2,600% of the last 2 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 2 fiscal years 2,600% of Hindusthan Insulators & Industries Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY25 that was ₹−14.0 Cr of operating cash against ₹−30.0 Cr of profit. After ₹−12.0 Cr of capital spending, ₹−2.0 Cr was left as free cash.

FY25: operating cash of ₹−14.0 Cr against reported profit of ₹−30.0 Cr, leaving free cash of ₹−2.0 Cr after ₹−12.0 Cr of capital spending. Across the last 2 fiscal years the conversion rate is 2,600% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 2,600%: the cash cycle tightened 11 days between FY20 and FY25 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 111-day cycle and ₹−21.0 Cr of building.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Hindusthan Insulators & Industries Ltd's cash conversion cycle runs 111 days in FY25, down from 122 days in FY20. Capital spending ran ₹−21.0 Cr over the last 3 years. At FY25 sales of ₹546 Cr each day of that cycle holds about ₹1.5 Cr, so roughly ₹166 Cr sits inside the business at any moment.

FY25: debtors at 67 days, inventory at 141 days — roughly 4.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 111 days, tighter than FY20's 122.

The full loop: cash goes out to suppliers and production on day 0; stock waits 141 days to sell; customers pay about 67 days after that; and suppliers themselves are paid at 98 days — netting out to the 111-day cycle.

In money terms: at FY25 sales of ₹546 Cr, each day of the cycle holds about ₹1.5 Cr — so the 111-day loop keeps roughly ₹166 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹−21.0 Cr over the last 3 fiscal years against ₹81.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹1.0 Cr (FY25) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is −7%.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Hindusthan Insulators & Industries Ltd earns a ROCE of −7% in FY25. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is −5.5% net margin on 0.67× asset turns.

FY25 ROCE is −7%.

Why the return is what it is — the wiring (FY25): −5.5% net margin × 0.67× asset turns × 2.81× balance-sheet leverage ≈ −10.4% on equity. Margin does its share; leverage is a meaningful part of the equation.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 1.34.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Hindusthan Insulators & Industries Ltd carries ₹386 Cr of borrowings against ₹289 Cr of equity in FY25, a debt-to-equity of 1.34. Operating profit covers the interest bill −1×. Over 5 years borrowings went from ₹292 Cr to ₹386 Cr. Capital spending ran ₹−21.0 Cr across the last 3 of those years.

FY25: borrowings of ₹386 Cr against equity of ₹289 Cr — a debt-to-equity of 1.34. Operating profit covers the interest bill −1×. Over 5 years borrowings went from ₹292 Cr to ₹386 Cr while capital spending ran ₹−21.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Hindusthan Insulators & Industries Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 75.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: +0.2 points over 8 quarters to 0.6%; Promoters: +0.0 points over 8 quarters to 75.0%.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Hindusthan Insulators & Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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