Hira Ferro Alloys Unlisted Shares
₹170
*Average Price as per 2 September, 2026
Fundamentals
FACE VALUE
10
BOOK VALUE
320
NO OF SHARES
23188500
EPS
10.9
SALES
540
INDUSTRY PE
0
DIVIDEND
0
DIVIDEND YIELD
0
PE
17.71
PB
0.6
PS
0.83
MARKET CAP
447.54
EQUITY
23.19
PAT
25.26
MESSAGE
2025-26
OVERVIEW
| Product | Installed Capacity |
| Ferro Alloys | 61,500 TPA |
| Specification | Silico Manganese High Carbon | High Carbon Ferro Manganese | High Carbon Ferro Manganese |
| Manganese (Mn) | 60 - 65% | 65 - 70% | 70 - 75% |
| Silicon (Si) | 15-17% | 2.00 % Max | 1.50 % Max |
| Carbon (C) | 2.0% Max | 6 - 8 % | 6 - 8 % |
| Phosphorous (P) | 0.35 % Max | 0.35 % max | 0.35 % Max |
| Sulphur (S) | 0.05 % Max | 0.05 % max | 0.05 % max |
| Size in mm | 25-150 mm (+/- 10% Tolerance) | 25-150 mm (+/- 10% Tolerance) | 25 -150 mm (+/- 10% Tolerance) |
| Packing | As per requirement. | As per requirement. | As per requirement. |
| Product | Installed Capacity |
| Power | 30MW |
| Thermal | 20 MW |
| Wind Mill | 1.5 MW |
| Biomass | 8.5 MW |
| Fly Ash Bricks (ISI Mark) | 3,33,000 TPA |
| Mn. Ore Briquettes | 3,00,000 TPA |
INSIGHT
Financial Snapshot (FY25 – FY26)
The table below summarizes the standalone financial performance of Hira Ferro Alloys Limited for FY25 and FY26:
| Metric (in ₹ Cr) | FY25 | FY26 | YoY Growth (%) |
| Net Revenue | 596.26 | 540.28 | -9.39% |
| EBITDA | 67.27 | 67.22 | -0.07% |
| EBITDA Margin (%) | 11.28% | 12.44% | +116 bps |
| Profit After Tax (PAT) | 30.77 | 25.28 | -17.84% |
| PAT Margin (%) | 5.16% | 4.68% | -48 bps |
Key Operational & Strategic Insights
Top-Line Compression: Net Revenue contracted by 9.39% YoY in FY26, dropping to ₹540.28 Cr from ₹596.26 Cr in FY25. This top-line pressure reflects broader price realizations softening across bulk ferroalloys (Silico Manganese and Ferro Manganese) amid cyclical global commodity adjustments.
Resilient Operating Margins: Despite the decline in revenue, core operating profit (EBITDA) remained virtually flat at ₹67.22 Cr in FY26 (vs. ₹67.27 Cr in FY25). Total operating costs decreased by 10.57% (from ₹528.99 Cr to ₹473.06 Cr), enabling EBITDA margins to expand by 116 bps to 12.44%.
Tax Provisioning Drags Net Profit: PAT declined by 17.84% YoY to ₹25.28 Cr in FY26. Although Profit Before Tax (PBT) remained stable at ₹42.55 Cr (up 1.00% from ₹42.13 Cr in FY25), a higher tax provision of ₹17.27 Cr (up from ₹11.36 Cr in FY25) directly impacted bottom-line profitability, reducing the PAT margin to 4.68%.
Controlled Interest & Overhead Burden: Finance costs marginally decreased to ₹17.60 Cr in FY26 from ₹18.30 Cr in FY25, indicating controlled working capital usage despite volatility in raw material and energy pricing.
Industry Overview & Strategic Position
Steel Industry Cyclicality: Demand for ferroalloys remains intrinsically linked to domestic and global crude steel production. As a critical additive in steelmaking for deoxidation and desulfurization, ferroalloy volume demand tracks capital expenditure cycles in infrastructure and construction.
Integration Advantage: Being part of the Hira Group (and a subsidiary of Godawari Power & Ispat Ltd.), the company benefits from strategic backward integration, power security (captive power capacities), and supply-chain synergies, which cushion operating margins during commodity downturns.
SECONDARY NAME
ISIN
CDSL
NSDL
INDUSTRY
SECTOR (READ ONLY)
SHARE HOLDINGS
| Name of Shareholder | Holdings |
|---|---|
| M/s Godawari Power & Ispat Limited | 75.67 % |
| Dinesh Agrawal | 4.65 % |
NRIs invest Before IPO via SB NRI
We're different. SB NRI is the first of it's kind platform built for NRIs offering digital Investment plans.
Schedule a CallTrusted by 1,000s of NRIs spread across the Globe
One-stop Platform for NRI
Making NRI lives easier by solving Banking, Investment, Tax & all other India related needs. Download SBNRI
Copyright | 2021 @ SBNRI | All Rights Reserved