Hind Rectifiers Limited (HIRECT) Fair Value & Analysis
Industrials · IN · Market cap ₹21.8B
Risks
Fair value as of: Aug 21, 2026
From 14 valuation models · updated today
Share price −2.2% over the past month.
Below-average quality, and screening another 59% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹687.54). The favourable scenario is already priced in.
- Weak quality (42/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range (₹364.01 to ₹687.54) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ₹59.89 – ₹1,336 · fair‑value band ₹364.01 – ₹687.54 · the ₹1,279 price screens above the ₹530.50 fair value. Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Hind Rectifiers Limited (HIRECT) currently trades at ₹1,279, while our model-based Fair Value estimate is ₹530.50, implying the stock looks roughly 58.5% overvalued today. The Quality Score stands at 42/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Hind Rectifiers Limited generated revenue of ₹8.0B at a net margin of 6.0%. Revenue grew 37.0% year over year. It earns a return on equity of 28.8%. Net debt stands at ₹2.3B. Fundamentals as of Aug 21, 2026
Our scenario range runs from ₹364.01 (bear case) to ₹687.54 (bull case); at ₹1,279, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 125% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -65% fair-value upside, at -59%, HIRECT screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 14 models by family
Widest divergence: Growth Earnings (₹918.24) versus Asset-Based (₹81.32). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 43 · Market factors (momentum, volatility) 77
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Hind Rectifiers Limited engages in the designs, development, manufacture, and marketing of power semiconductor devices, power electronic equipment, and railway transportation equipment in India and internationally.
Full company description
Hind Rectifiers Limited engages in the designs, development, manufacture, and marketing of power semiconductor devices, power electronic equipment, and railway transportation equipment in India and internationally. The company provides various traction and aux transformers, IGBT propulsion systems, auxiliary converters and battery chargers, on-board DC rectifiers, traction motors, panels, electrical switch boards, power supplies, safety, and protection electronics, and rolling stock HVAC systems for railways, as well as electrostatic precipitators, power quality improvement solutions, and special, and current rectifiers. It also offers repairing and servicing, AMC and erectioning, and commissioning services. Hind Rectifiers Limited was incorporated in 1958 and is based in Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Hind Rectifiers Limited reported revenue of ₹10.0B in FY2026 versus ₹3.7B in FY2022, a compound +28.0%/yr. Reported net income was ₹450M in FY2026, compounding +55.0%/yr from FY2022.
HIRECT screens 59% overvalued. Compare with Contemporary Amperex Technology Co →
Peer Group
Electrical Equipment & Parts · 548 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Contemporary Amperex Technology Co 3750 | HK$652.50 | HK$394.19 | -40% |
| Delta Electronics (Thailand) Public Company DELTA | 269.00 THB | 40.28 THB | -85% |
| LG Energy Solution, Ltd 373220 | 365,500 KRW | 201,455 KRW | -45% |
| WEG S.A WEGE3 | 14,900 ARS | 4,338 ARS | -71% |
| Sungrow Power Supply Co 300274 | ¥117.53 | ¥123.83 | +5% |
| HD Hyundai Electric Co 267260 | 752,000 KRW | 371,133 KRW | -51% |
| LS ELECTRIC Co 010120 | 206,500 KRW | 29,594 KRW | -86% |
| Hyosung Heavy Industries Corporation 298040 | 2,857,000 KRW | 1,013,099 KRW | -65% |
| Hitachi Energy India Limited POWERINDIA | ₹33,510 | ₹6,106 | -82% |
| CG Power and Industrial Solutions Limited CGPOWER | ₹893.95 | ₹130.16 | -85% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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