Management Or Ownership Change
Expected: March 2026LOW confidence
What: Personnel Change: New CS/Compliance Officer
Hardwyn India Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +45.1%Very Weak9w StreakRe-Entry
In , Hardwyn India Ltd (Trading) is outperforming Nifty 500 with +45.1% relative strength. Fundamentals: Very Weak. On a 9-week streak.
Hardwyn India Ltd Key Facts
- PE Ratio
- 103.0x
- Market Cap
- ₹1,199 Cr
- PAT Growth YoY
- -55%
- Revenue Growth YoY
- +6%
- OPM
- 6.2%
- RS vs Nifty 500
- +45.1%
PE: Mid ExpansionFalling Knife
What's Happening
🔻Earnings declining and PE falling — fundamentals deteriorating
💪Debt reduced 40% YoY — balance sheet strengthening
💰Trading 93% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Management Or Ownership Change
March 2026LOW
Key Risks
1. Severe margin compression with operating margins falling from 13
HIGH2. BSE inquiry regarding unusual trading activity and volume surge
MEDIUMSector-Specific Signals
Operating Margin6.15%-765 bps
Return on Equity2.85%Not Given
Debt to Equity Ratio0.02xNot Given
Promoter Pledged Shares0%0 bps
Key Numbers
PAT Growth YoY
-55%
Stable
Revenue YoY
+6%
Stable
Operating Margin
6.2%
-765 bps YoY
PE Ratio
103.0
Current Price
₹25
Fundamental Score
16/100
Very Weak
3Y PAT CAGR
+54%
Market Cap
1.2K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Hardwyn India Ltd's Earnings Accelerating?
Based on Q3 FY26 (web) earnings • Updated Apr 18, 2026
What Are the Key Risks for Hardwyn India Ltd?
Earnings deceleration risks from management commentary
Severe margin compression with operating margins falling from 13
HIGHTrigger: Severe margin compression with operating margins falling from 13.8% to 6.15% YoY.
Impact: PAT impact: 55.14% decline
Management view: Focus on operational efficiency and cost management.
Monitor: commodity
BSE inquiry regarding unusual trading activity and volume surge
MEDIUMTrigger: BSE inquiry regarding unusual trading activity and volume surge.
Management view: Clarified that movement is market-driven with no undisclosed material information.
Monitor: regulatory
What Did Hardwyn India Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹49.08 Cr
YoY +5.8%QoQ -3.18%
Revenue growth remained positive on an annual basis but saw a slight sequential dip.
EBITDA
₹3.02 Cr
YoY -52.81%Margin 6.15%
EBITDA margins hit an 8-quarter low due to severe cost or competitive pressures.
PAT
₹1.79 Cr
YoY -55.14%QoQ -58.85%
Net profit was severely impacted by dramatic margin compression across all key metrics.
Other Highlights
• Operating profit absolute figure of ₹3.02 crores fell 52.81% year-on-year.
• PBT less other income fell 50.5% to ₹2.33 crores vs 4-quarter average.
• 9M FY26 PAT margin stands at 6.85% vs 6.0% in full-year FY25.
What Sector Metrics Matter for Hardwyn India Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Operating Margin
6.15%
YoY -765 bpsQoQ -723 bps
Why: Severe competitive or cost pressures that management has failed to address effectively.
Return on Equity
2.85%
YoY Not GivenQoQ Not Given
Why: Generates returns well below the cost of capital, destroying shareholder value over time.
Debt to Equity Ratio
0.02x
YoY Not GivenQoQ Not Given
Why: Maintains a conservative capital structure with limited financial leverage.
Promoter Pledged Shares
0%
YoY 0 bpsQoQ 0 bps
Why: Promoters confirmed no shares were pledged for loans during the financial year.
P/E Ratio (TTM)
60.0x
YoY Not GivenQoQ Not Given
Why: Trading at a steep premium compared to the industry average of 11x.
Diluted EPS
₹0.04
YoY -50.0%QoQ -55.56%
Why: Profit erosion driven by margin collapse.
What Is Hardwyn India Ltd's Management Guidance?
Forward-looking targets from management
Management Tone: CAUTIOUS
How Fast Is Hardwyn India Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +6% | +30% | Stable |
| PAT (Net Profit) | -55% | +54% | Stable |
| OPM | 6.2% | -765 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
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Frequently Asked Questions: Hardwyn India Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Hardwyn India Ltd's latest quarterly results?
Hardwyn India Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: -55.1% (stable)
- Revenue Growth YoY: +5.8%
- Operating Margin: 6.2% (volatile)
Is Hardwyn India Ltd's profit growing or declining?
Hardwyn India Ltd's profit is declining with an stable trend.
- PAT Growth YoY: -55.1% (latest quarter)
- PAT Growth QoQ: -58.9% (sequential)
- 3-Year PAT CAGR: +54.2%
- Trend: Stable — consistent growth pattern
What is Hardwyn India Ltd's revenue growth trend?
Hardwyn India Ltd's revenue growth trend is stable.
- Revenue Growth YoY: +5.8%
- Revenue Growth QoQ: -3.2% (sequential)
- 3-Year Revenue CAGR: +29.9%
How is Hardwyn India Ltd's operating margin trending?
Hardwyn India Ltd's operating margin is volatile.
- Current OPM: 6.2%
- OPM Change YoY: -7.7% basis points
- OPM Change QoQ: -7.2% basis points
What is Hardwyn India Ltd's 3-year profit and revenue CAGR?
Hardwyn India Ltd's long-term compounding rates
- 3-Year Profit CAGR: +54.2%
- 3-Year Revenue CAGR: +29.9%
Is Hardwyn India Ltd's growth accelerating or decelerating?
Hardwyn India Ltd's earnings growth is stable with weakening on a sequential basis.
- YoY Acceleration: -62.8% bps
- Sequential Acceleration: -69.8% bps
- Note: YoY and QoQ trends are diverging — worth monitoring
- Margin Warning: Operating margins are under pressure
What is Hardwyn India Ltd's trailing twelve month (TTM) performance?
Hardwyn India Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹12 Cr
- TTM PAT Growth: -8.4% YoY
- TTM Revenue: ₹188 Cr
- TTM Revenue Growth: +2.9% YoY
- TTM Operating Margin: 9.8%
Is Hardwyn India Ltd overvalued or undervalued?
Hardwyn India Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 103.0x
- Price-to-Book: 3.0x
What is Hardwyn India Ltd's current PE ratio?
Hardwyn India Ltd's current PE ratio is 103.0x.
- Current PE: 103.0x
- Market Cap: 1.2K Cr
How does Hardwyn India Ltd's valuation compare to its history?
Hardwyn India Ltd's current PE is 103.0x.
- Current PE: 103.0x
- Valuation Assessment: Significantly Overvalued
What is Hardwyn India Ltd's price-to-book ratio?
Hardwyn India Ltd's price-to-book ratio is 3.0x.
- Price-to-Book (P/B): 3.0x
- Book Value per Share: ₹8
- Current Price: ₹25
Is Hardwyn India Ltd a fundamentally strong company?
Hardwyn India Ltd is rated Very Weak with a fundamental score of 15.7/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +5.8% (10% weight)
- PAT Growth YoY: -55.1% (10% weight)
- PAT Growth QoQ: -58.9% (10% weight)
- Margins stable (10% weight)
Is Hardwyn India Ltd debt free?
Hardwyn India Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹6 Cr
What is Hardwyn India Ltd's return on equity (ROE) and ROCE?
Hardwyn India Ltd's return ratios over recent years
- FY2023: ROCE 7.0%
- FY2024: ROCE 4.0%
- FY2025: ROCE 4.0%
Is Hardwyn India Ltd's cash flow positive?
Hardwyn India Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹2 Cr
- Free Cash Flow (FCF): ₹1 Cr
- CFO/PAT Ratio: 18% (weak cash conversion)
What is Hardwyn India Ltd's dividend yield?
Hardwyn India Ltd currently does not pay a significant dividend (yield 0.00%).
- Dividend Yield: 0.00%
- Current Price: ₹25
Who holds Hardwyn India Ltd shares — promoters, FII, DII?
Hardwyn India Ltd's shareholding pattern (Mar 2026)
- Promoters: 43.8%
- FII (Foreign): 0.6%
- Public: 55.1%
Is promoter holding increasing or decreasing in Hardwyn India Ltd?
Hardwyn India Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 43.8% (Mar 2026)
- Previous Quarter: 43.8% (Dec 2025)
- Change: 0.00% (stable)
How long has Hardwyn India Ltd been outperforming Nifty 500?
Hardwyn India Ltd has been outperforming Nifty 500 for 9 consecutive weeks, indicating consistent outperformance.
Is Hardwyn India Ltd a new momentum entry or an established outperformer?
Hardwyn India Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
What are the growth catalysts for Hardwyn India Ltd?
Hardwyn India Ltd has 1 key growth catalyst identified from recent earnings analysis
- Management Or Ownership Change — Administrative changes are unlikely to drive immediate PAT inflection.
What are the key risks in Hardwyn India Ltd?
Hardwyn India Ltd has 2 key risks worth monitoring
- [HIGH] Severe margin compression with operating margins falling from 13 — Severe margin compression with operating margins falling from 13.8% to 6.15% YoY.
- [MEDIUM] BSE inquiry regarding unusual trading activity and volume surge — BSE inquiry regarding unusual trading activity and volume surge.
What is Hardwyn India Ltd's management guidance for growth?
Hardwyn India Ltd's management has provided the following forward guidance
- Revenue outlook: Not Given
- Margin outlook: Not Given
- Management tone: cautious
What sector-specific metrics matter most for Hardwyn India Ltd?
Hardwyn India Ltd's most important sub-sector-specific KPIs from the latest concall
- Operating Margin: 6.15% (YoY -765 bps) (QoQ -723 bps) — Severe competitive or cost pressures that management has failed to address effectively.
- Return on Equity: 2.85% (YoY Not Given) (QoQ Not Given) — Generates returns well below the cost of capital, destroying shareholder value over time.
- Debt to Equity Ratio: 0.02x (YoY Not Given) (QoQ Not Given) — Maintains a conservative capital structure with limited financial leverage.
- Promoter Pledged Shares: 0% (YoY 0 bps) (QoQ 0 bps) — Promoters confirmed no shares were pledged for loans during the financial year.
- P/E Ratio (TTM): 60.0x (YoY Not Given) (QoQ Not Given) — Trading at a steep premium compared to the industry average of 11x.
- Diluted EPS: ₹0.04 (YoY -50.0%) (QoQ -55.56%) — Profit erosion driven by margin collapse.
Is Hardwyn India Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Hardwyn India Ltd may be worth studying
- Cash flow is positive — CFO ₹2 Cr
What is the investment thesis for Hardwyn India Ltd?
Hardwyn India Ltd investment thesis summary:
Research Signals (Bull Case)
- Growth catalyst: Management Or Ownership Change
Risk Factors (Bear Case)
- Margins under pressure
- Appears significantly overvalued
- Key risk: Severe margin compression with operating margins falling from 13
What is the future outlook for Hardwyn India Ltd?
Hardwyn India Ltd's forward outlook based on current data signals
- Earnings Trend: stable
- Revenue Trend: stable
- Margin Trend: volatile
- Valuation: Significantly Overvalued
- Key Catalyst: Management Or Ownership Change
- Key Risk: Severe margin compression with operating margins falling from 13
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.