Hexa Tradex 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.

Hexa Tradex Ltd trades at ₹156, in a downtrend and 82 weeks into that stage. That is −5.3% against its own 200-day average. It sits at 4% of a 52-week range of ₹155 to ₹175. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (20 weeks and counting).

Today the stock is in a downtrend — week 82 of stage 4, confirmed. At ₹156 it trades −5.3% versus its 200-day average and sits at 4% of its 52-week range (₹155–₹175).

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +922% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (20 weeks and counting; last ahead the week of 2026-05-29) — 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.

Hexa Tradex Ltd trades at 40.5× P/E, at the pricey end of its own range (73rd percentile). Its long-run median P/E is 10.3×, measured across 9.9 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 40.5× is at the pricey end of its own range (73rd percentile), against a long-run median of 10.3× measured over 9.9 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 10y, of the +23.6%/yr price move, ~+5.0%/yr came from earnings growth and ~+18.6 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

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).

Hexa Tradex 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.

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

40.3/100 — rank 29 of 52 in Trading · 65% evidence confidence

Hexa Tradex Ltd scores 40.3 out of 100 against the 52 companies it is compared with in Trading, ranking 29. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 17.2 + 6.1 + 10 + 7 = 40.3. 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.

Hexa Tradex Ltd reported ₹0.0 Cr of revenue in the Jun 26 quarter. Over 10 years it has compounded at −11.8% a year. The last full year, FY26, came in at ₹5.4 Cr. The last four reported quarters add to ₹4.6 Cr.

FY26 revenue came in at ₹5.4 Cr (−1.5% on the year), capping 10 years at −11.8% compound. The latest quarter (Jun 26) printed ₹0.0 Cr, null year on year.

Pace check: the last four quarters averaged −0.8% growth against the decade's −11.8% — the current year is running faster than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +0.4% over the last 4 quarters against −66.4%/yr over the last 8 — accelerating.

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.

A clean operating margin is not in our numbers for Hexa Tradex Ltd — its accounts do not report the operating-profit line this section reads, which is common for lenders and holding companies. The sections above and below carry the readings this company's filings do support.

This company's accounts do not report the operating-profit line this section reads — common for lenders and holding companies classified outside the financial bucket. The revenue and net-profit sections are the cleaner reads for Hexa Tradex Ltd.

🚨 Why the margin moved: operating margin went −268.8 pp year on year while gross margin went +0.0 pp — the loss 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.

Hexa Tradex Ltd earned ₹1.7 Cr of net profit in the Jun 26 quarter. The full FY26 year was a loss of ₹8.7 Cr. The same quarter a year earlier lost ₹0.2 Cr. 8 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹1.7 Cr, null year on year. On the full year, FY26 printed ₹−8.7 Cr (null).

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 62% of Hexa Tradex Ltd's reported profit arrived as operating cash — most of the profit is real cash. In FY26 that was ₹−3.6 Cr of operating cash against ₹−8.7 Cr of profit. After ₹0.0 Cr of capital spending, ₹−4.0 Cr was left as free cash.

FY26: operating cash of ₹−3.6 Cr against reported profit of ₹−8.7 Cr, leaving free cash of ₹−4.0 Cr after ₹0.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 62% 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 62%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle. Less than 70% of profit arriving as cash is the thing to watch on this page.

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

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).

Hexa Tradex Ltd's cash conversion cycle runs 0 days in FY26, down from 0 days in FY21. Capital spending ran ₹0.0 Cr over the last 3 years. At FY26 sales of ₹5.4 Cr each day of that cycle holds about ₹0.0 Cr, so roughly ₹0.0 Cr sits inside the business at any moment.

FY26: debtors at 0 days (an asset-light business — no inventory to speak of) — for a full cycle of 0 days, tighter than FY21's 0.

In money terms: at FY26 sales of ₹5.4 Cr, each day of the cycle holds about ₹0.0 Cr — so the 0-day loop keeps roughly ₹0.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹0.0 Cr over the last 3 fiscal years. Capital work-in-progress stands at ₹0.0 Cr (FY26) — 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.

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.⚠ unverified

Hexa Tradex Ltd earns a ROCE of −0% in FY26. That is up from a trough of −16% in FY18. Return on invested capital clears the cost of that capital by −11.9 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is −161.5% net margin on 0.00× asset turns.

FY26 ROCE is −0%, recovered from a FY18 trough of −16% — the full ladder below shows the fall and the climb, undoctored.

🚨 Why the return is what it is — the wiring (FY26): −161.5% net margin × 0.00× asset turns × 1.15× balance-sheet leverage ≈ 0.0% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The capstone test — ROIC − WACC: 0.1% − 12.0% = a −11.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Hexa Tradex Ltd carries total debt of ₹9.0 Cr against shareholder equity of ₹4,616 Cr as of Mar 26, a debt-to-equity of 0.00 — effectively unlevered. On the annual view that ratio went from 0.21 in FY22 to 0.00 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.

Mar 26: total debt of ₹9.0 Cr against shareholder equity of ₹4,616 Cr — a debt-to-equity of 0.00. On the annual view, debt-to-equity went from 0.21 (FY22) to 0.00 (FY26). The returns on this page are earned, not borrowed.

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 Hexa Tradex Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved +0.0 points over the same window, to 0.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: +0.0 points over 8 quarters to 92.1%; Foreign institutions: +0.0 points over 8 quarters to 0.1%; Domestic institutions: +0.0 points over 8 quarters to 0.0%.

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.

Hexa Tradex Ltd: the Z-score reads 0.82. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits inside the distress zone. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

🚨 Why it matters: a Z-score of 0.82 is inside the distress zone — the balance sheet is a real risk, not a detail.

The safety line in one sentence: the Z-score reads 0.82.

Frequently asked questions