Hazoor Multi Projects 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.

Hazoor Multi Projects Ltd trades at ₹19.2, in a downtrend and 75 weeks into that stage. That is −31.3% against its own 200-day average. It sits at 0% of a 52-week range of ₹19 to ₹45. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (13 weeks and counting).

Today the stock is in a downtrend — week 75 of stage 4, confirmed. At ₹19.2 it trades −31.3% versus its 200-day average and sits at 0% of its 52-week range (₹19–₹45).

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +6,754% while the NIFTY 500 moved +273% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (13 weeks and counting; last ahead the week of 2026-02-20) — 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.

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.

Hazoor Multi Projects Ltd trades at 17.8× P/E, mid-range by its own standards (49th percentile). Its long-run median P/E is 18.0×, measured across 10.5 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 17.8× is mid-range by its own standards (49th percentile), against a long-run median of 18.0× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved −11.7% against a −53.8% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the +63.7%/yr price move, ~+152.2%/yr came from earnings growth and ~−88.5 pp from the multiple (compressing); over 10y, of the +64.8%/yr price move, ~+58.8%/yr came from earnings growth and ~+6.0 pp from the multiple (expanding). 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 unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.

Solved at its 13 June 2026 price, Hazoor Multi Projects Ltd was paying for profit growth of about 17.3% a year. Today the market pays 17.8× P/E, the 49th percentile of its own 11-year range.

What the two numbers say together. The multiple is unremarkable against its own past, and the growth the price is paying for is the whole of what a buyer is backing.

How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.

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).

Hazoor Multi Projects 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 7 quarters across 1 curve, 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.

4-Factor Sector Score

46.0/100 — rank 10 of 18 in Infra - Construction & Contracting · 69% evidence confidence

Hazoor Multi Projects Ltd scores 46.0 out of 100 against the 18 companies it is compared with in Infra - Construction & Contracting, ranking 10. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 13.6 + 13.4 + 10.4 + 8.6 = 46. 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.

Hazoor Multi Projects Ltd reported ₹120 Cr of revenue in the Jun 26 quarter, −33.5% year on year. Over 18 years it has compounded at 22.5% a year. The last full year, FY26, came in at ₹580 Cr. The last four reported quarters add to ₹519 Cr.

FY26 revenue came in at ₹580 Cr (−9.1% on the year), capping 18 years at 22.5% compound. The latest quarter (Jun 26) printed ₹120 Cr, −33.5% year on year.

Pace check: the last four quarters averaged −29.8% growth against the decade's 22.5% — the current year is running slower than its own long-run rate.

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.

Hazoor Multi Projects Ltd's operating margin is 84.5% in the Jun 26 quarter, +70.1 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −2.9% to 64.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 84.5%, +70.1 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −2.9%–64.0%.

Why the margin moved: operating margin went +70.1 pp year on year while gross margin went +28.4 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

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

Hazoor Multi Projects Ltd earned ₹0.3 Cr of net profit in the Jun 26 quarter, −97.8% year on year. Full-year FY26 profit was ₹43.0 Cr. That is 0.3% of the quarter's revenue. The same quarter a year earlier earned ₹13.8 Cr. 1 of the last 11 reported quarters were loss-making.

Jun 26 profit was ₹0.3 Cr, −97.8% year on year. On the full year, FY26 printed ₹43.0 Cr (+7.5%).

🚨 Why profit moved: revenue contributed −33.5% and the margin +70.1 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.

Pace comparison, last four quarters: profit −14.3% vs revenue −29.8%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

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 3 fiscal years −116% of Hazoor Multi Projects Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹97.0 Cr of operating cash against ₹43.0 Cr of profit. After ₹163 Cr of capital spending, ₹−66.0 Cr was left as free cash.

FY26: operating cash of ₹97.0 Cr against reported profit of ₹43.0 Cr, leaving free cash of ₹−66.0 Cr after ₹163 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −116% 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 −116%: the cash cycle tightened 741 days between FY12 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: the bigger cash user is investment — capital spending ran 1.9× depreciation over three years, so the next section's job is to check what that build-out is buying.

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).

Hazoor Multi Projects Ltd's cash conversion cycle runs −741 days in FY26, down from 0 days in FY12. Capital spending ran ₹370 Cr over the last 3 years. At FY26 sales of ₹580 Cr each day of that cycle holds about ₹1.6 Cr, so roughly ₹−1,177 Cr sits inside the business at any moment.

FY26: debtors at 68 days, inventory at 1 days — roughly 0.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −741 days, tighter than FY12's 0.

The full loop: cash goes out to suppliers and production on day 0; stock waits 1 days to sell; customers pay about 68 days after that; and suppliers themselves are paid at 810 days — netting out to the −741-day cycle.

In money terms: at FY26 sales of ₹580 Cr, each day of the cycle holds about ₹1.6 Cr — so the −741-day loop keeps roughly ₹−1,177 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹370 Cr over the last 3 fiscal years against ₹195 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹65.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

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.

Hazoor Multi Projects Ltd earns a ROCE of 12% in FY26. That is up from a trough of −7% in FY11. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 7.4% net margin on 0.34× asset turns.

FY26 ROCE is 12%, recovered from a FY11 trough of −7% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 7.4% net margin × 0.34× asset turns × 2.70× balance-sheet leverage ≈ 6.8% on equity. Margin does its share; leverage is a meaningful part of the equation.

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.

Hazoor Multi Projects Ltd carries ₹455 Cr of borrowings against ₹624 Cr of equity in FY26, a debt-to-equity of 0.73. Operating profit covers the interest bill 6×. Over 13 years borrowings went from ₹3.0 Cr to ₹455 Cr. Capital spending ran ₹370 Cr across the last 3 of those years.

FY26: borrowings of ₹455 Cr against equity of ₹624 Cr — a debt-to-equity of 0.73. Operating profit covers the interest bill 6×. Over 13 years borrowings went from ₹3.0 Cr to ₹455 Cr while capital spending ran ₹370 Cr in just the last 3 — part of the build-out is riding on borrowed money.

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.

Promoters cut 7.4 points of Hazoor Multi Projects Ltd over 8 quarters, the biggest move on the register. That takes promoters to 13.7% of the company. Foreign institutions moved +7.3 points over the same window, to 26.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −7.4 points over 8 quarters to 13.7%; Foreign institutions: +7.3 points over 8 quarters to 26.4%; Domestic institutions: +0.0 points over 8 quarters to 0.0%. Note the structure: promoters hold under 20% — this is a widely-held company where institutions, not a family, set the direction.

🚨 Why the register moved: promoters drove it (−7.4 points), absorbed on the other side by foreign institutions (+7.3 points) — distribution into the market’s bid.

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.

Hazoor Multi Projects 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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