Mukul Agarwal Holds 1.46% Stake & Rs 893 Crore Order Book: Indian Railways Awards Rs 101 Crore Contract to This Power Electronics Manufacturer
The company has delivered a strong 1-year return of 85.38 per cent and a multibagger 3-year return of 613.39 per cent.
Hind Rectifiers Limited has received a significant domestic supply order worth approximately Rs 101 crore from Indian Railways. The execution period for this order spans from FY 2025-26 to FY 2026-27. This contract highlights the company’s strong foothold in the railway sector, which contributes nearly 70 to 80 per cent of its revenue. Notably, the company clarified that neither the promoter group nor related parties have any interest in this deal, ensuring transparency in the transaction.
Established in 1958, Hind Rectifiers specialises in designing, manufacturing, and supplying power conversion equipment for railway and industrial applications. The company operates across two primary segments—Railway Transportation Equipment and Industrial Power Electronic Equipment—and offers products such as power semiconductors, transformers, converters, rectifiers, and HVAC systems. These serve industries including Railways, Defence, Power, and Steel. Its improved EBITDA margins—from 4 per cent in FY23 to 11 per cent in FY25—are attributed to backward integration and a focus on higher-margin products.
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As of June 27, 2025, Hind Rectifiers’ stock trades at Rs 1,262.7, with a 52-week high of Rs 1,552.5 and a low of Rs 672.75. The company has delivered a strong 1-year return of 85.38 per cent and a multibagger 3-year return of 613.39 per cent. The market capitalisation stands at Rs 2,121 crore, and the Price-to-Earnings (PE) ratio is 56.9, indicating strong investor confidence. Key public shareholders include Btr Industries Ltd (13.98 per cent), Niraj Bajaj (1.75 per cent), and Mukul Mahavir Agrawal (1.46 per cent).
With manufacturing units in Maharashtra and Uttarakhand, the company is expanding capacity and strengthening its R&D initiatives. It is also focusing on product innovation and entering high-value export markets, thereby enhancing long-term growth potential.
Disclaimer: The article is for informational purposes only and not investment advice.