| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 193 | 303 | 282 | 411 |
| Cost of Material Consumed | 113 | 185 | 235 | 247 |
| Change in Inventory | -1 | -3 | 2 | -3 |
| Gross Margins | 41.45 | 38.94 | 38.48 | 39.9 |
| Employee Benefit Expenses | 25 | 33 | 40 | 49 |
| Other Expenses | 43 | 52 | 59 | 66 |
| EBITDA | 12 | 36 | 46 | 52 |
| OPM | 6.22 | 11.88 | 12.04 | 12.65 |
| Other Income | 3 | 3 | 9 | 6 |
| Finance Cost | 4 | 4 | 5 | 5 |
| D&A | 8 | 10 | 11 | 13 |
| EBIT | 4 | 26 | 35 | 39 |
| EBIT Margins | 2.07 | 8.58 | 9.16 | 9.49 |
| PBT | 2.78 | 24 | 39 | 39 |
| PBT Margins | 1.44 | 7.92 | 10.21 | 9.49 |
| Tax | 2.75 | 7 | 12 | 10 |
| PAT | 0.03 | 17 | 27 | 29 |
| NPM | 0.02 | 5.61 | 7.07 | 7.06 |
| EPS | 0.1 | 56.67 | 85.17 | 77.96 |
| Financial Ratios | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 6.22 | 11.88 | 12.04 | 12.65 |
| Net Profit Margin | 0.02 | 5.61 | 7.07 | 7.06 |
| Earning Per Share (Diluted) | 0.1 | 56.67 | 85.17 | 77.96 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 46 | 53 | 62.5 | 75 |
| CWIP | 7 | 9 | 7.7 | 2 |
| Investments | 0 | 0 | 0 | 0 |
| Trade Receivables | 40 | 55 | 68 | 83 |
| Inventory | 31 | 40 | 53 | 59 |
| Other Assets | 30 | 37 | 36.8 | 87 |
| Total Assets | 154 | 194 | 228 | 306 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 3 | 3 | 3.17 | 3.72 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 44 | 61 | 88 | 171 |
| Borrowings | 29 | 49 | 47 | 46 |
| Trade Payables | 58 | 60 | 66 | 58 |
| Other Liabilities | 20 | 21 | 23.83 | 27.28 |
| Total Liabilities | 154 | 194 | 228 | 306 |
| Cash-Flow Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| PBT | 3 | 24 | 39 | 39 |
| OPBWC | 22 | 40 | 52 | 56 |
| Change in Receivables | -10 | -15 | -13.4 | -15 |
| Change in Inventories | -8 | -9 | -13 | -6 |
| Change in Payables | 21 | 2 | 6 | -8 |
| Other Changes | -1 | -8.2 | 5 | 10 |
| Working Capital Change | 2 | -30.2 | -15.4 | -19 |
| Cash Generated From Operations | 23 | 9.8 | 36.6 | 37 |
| Tax | -3 | -9 | -8 | -13 |
| Cash Flow From Operations | 21 | 0.8 | 28.6 | 24 |
| Purchase of PPE | -9.6 | -15 | -17.5 | -18.5 |
| Sale of PPE | 0 | 0 | 0 | 0 |
| Cash Flow From Investment | -9.6 | -15 | -17.5 | -17 |
| Borrowing | -10 | 19 | -1.67 | -1.67 |
| Dividend | 0 | 0 | 0 | 0 |
| Equity | 0 | 0 | 0 | 54.45 |
| Others From Financing | -5 | -5 | -6 | -6.78 |
| Cash Flow from Financing | -15 | 14 | -7.67 | 46 |
| Net Cash Generated | -3.6 | -0.2 | 3.43 | 53 |
| Cash at the Start | 7.6 | 4 | 3.52 | 7 |
| Cash at the End | 4 | 3.8 | 6.95 | 60 |
Hella India Lighting Limited is a public but unlisted company in India, incorporated on 4 September 1959, with Corporate Identification Number (CIN) U74899DL1959PLC003126. Its authorized share capital is Rs 25.50 crore, while its paid-up capital stands at approximately Rs 14.61 crore. The company is part of the global Hella group, a major German automotive lighting supplier. In India, Hella India Lighting supplies components such as LED lamps, projector lamps, auxiliary lighting, and other lighting systems both to OEMs (vehicle manufacturers) and the aftermarket.
From a valuation standpoint, unlisted share-trading platforms suggest that Hella India Lighting’s unlisted equity is trading in the range of Rs 925 to ~ Rs 1,009 per share. According to LamfIndia, a significant share reissue took place on 8 August 2023, when 5,52,313 equity shares were allotted at Rs 986 per share (including premium) to Hella Holding International GmbH, a promoter-group entity.
On the business front, Hella India Lighting has shown solid financial performance in recent years. Its FY 2024 annual report reflects a profit after tax (PAT) of Rs 29.11 crore, up from the previous year, pointing to improved operational efficiency. The company’s cash reserves also surged strongly, suggesting good liquidity to fund future growth or capital needs. However, as with many unlisted companies, investing here involves certain risks: liquidity is limited, pricing can vary significantly across platforms, and exit options might not be as straightforward. Potential investors should conduct thorough due diligence, carefully assess the company’s fundamentals, and use trusted platforms or intermediaries when dealing in these unlisted shares.
1. What are unlisted shares?
Unlisted shares are stocks of companies that are not traded on recognized stock exchanges like the National Stock Exchange or Bombay Stock Exchange. These shares are typically traded privately through brokers or platforms.
2. How can I buy unlisted shares in India?
You can buy unlisted shares through specialized brokers, wealth management firms, or private deals. The shares are transferred to your Demat account via off-market transactions.
3. Are unlisted shares legal in India?
Yes, investing in unlisted shares is completely legal in India, as long as transactions comply with regulations set by the Securities and Exchange Board of India.
4. What are the risks of investing in unlisted shares?
Unlisted shares carry higher risks, including low liquidity, limited transparency, price volatility, and lack of regulatory oversight compared to listed stocks.
5. How is the price of unlisted shares determined?
The price is usually based on company performance, demand-supply, recent funding rounds, and financial valuations. Unlike listed stocks, there is no real-time market pricing.
6. Can unlisted shares become listed in the future?
Yes, companies may go public through an IPO. For example, firms preparing for listing on exchanges like the National Stock Exchange can provide significant returns to early investors.
7. What is the tax treatment of unlisted shares?
Unlisted shares are taxed as capital gains. If held for more than 24 months, they are treated as long-term capital assets and taxed accordingly under Indian tax laws.
8. Do unlisted shares pay dividends?
Yes, some unlisted companies distribute dividends, but it depends on the company’s profitability and policies. Dividend payouts are not guaranteed.
9. Can I sell unlisted shares easily?
Selling unlisted shares can be difficult due to limited buyers and lack of a formal exchange. You typically need a broker or a willing buyer for an off-market transaction.
10. Who should invest in unlisted shares?
Unlisted shares are suitable for high-risk investors with a long-term horizon who understand private market dynamics and can handle liquidity constraints.