| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 314 | 593 | 454 | 346 |
| Cost of Material Consumed | 200 | 322 | 233 | 221 |
| Change in Inventory | 7 | -22 | -1 | 2 |
| Gross Margins | 36.31 | 45.7 | 46.48 | 36.13 |
| Employee Benefit Expenses | 13 | 14 | 16 | 17 |
| Other Expenses | 64 | 125 | 108 | 86 |
| EBITDA | 30 | 154 | 28 | 20 |
| OPM | 9.55 | 25.97 | 6.17 | 5.78 |
| Other Income | 2.5 | 15 | 13 | 19 |
| Finance Cost | 5 | 4.5 | 6 | 15 |
| D&A | 6 | 6 | 6 | 12 |
| EBIT | 24 | 148 | 22 | 8 |
| EBIT Margins | 7.64 | 24.96 | 4.85 | 2.31 |
| PBT | 21.5 | 158 | 29 | 11 |
| PBT Margins | 6.85 | 26.64 | 6.39 | 3.18 |
| Tax | 0.75 | 45 | 7 | 3 |
| PAT | 20.75 | 113 | 22 | 8 |
| NPM | 6.61 | 19.06 | 4.85 | 2.31 |
| EPS | 10.6 | 48.75 | 9.49 | 3.45 |
| Financial Ratios | 2022 | 2023 | 2024 |
|---|---|---|---|
| Operating Profit Margin | 25.97 | 6.17 | 5.78 |
| Net Profit Margin | 19.06 | 4.85 | 2.31 |
| Earning Per Share (Diluted) | 48.75 | 9.49 | 3.45 |
| Assets | 2022 | 2023 | 2024 |
|---|---|---|---|
| Fixed Assets | 99 | 228 | 350 |
| CWIP | 144 | 123 | 8.5 |
| Investments | 205 | 190 | 392 |
| Trade Receivables | 57 | 26 | 26 |
| Inventory | 129 | 103 | 152 |
| Other Assets | 153 | 256 | 89.5 |
| Total Assets | 787 | 926 | 1018 |
| Liabilities | 2022 | 2023 | 2024 |
|---|---|---|---|
| Share Capital | 23.18 | 23.18 | 23.18 |
| FV | 10 | 10 | 10 |
| Reserves | 487 | 496 | 683 |
| Borrowings | 33 | 298 | 171 |
| Trade Payables | 67 | 55 | 66 |
| Other Liabilities | 176.82 | 53.82 | 74.82 |
| Total Liabilities | 787 | 926 | 1018 |
| Cash-Flow Statement | 2022 | 2023 | 2024 |
|---|---|---|---|
| PBT | 158 | 29 | 11 |
| OPBWC | 166 | 30 | 35 |
| Change in Receivables | -33 | 32 | -0.5 |
| Change in Inventories | -35 | 26 | -48.5 |
| Change in Payables | 14 | -12 | 11 |
| Other Changes | 25 | 13 | 21.8 |
| Working Capital Change | -29 | 59 | -16.2 |
| Cash Generated From Operations | 137 | 89 | 18.8 |
| Tax | -30 | -7 | 0.2 |
| Cash Flow From Operations | 107 | 82 | 19 |
| Purchase of PPE | -156 | -115 | -21 |
| Sale of PPE | 0.66 | 1.6 | 2 |
| Cash Flow From Investment | -156 | -112 | 13 |
| Borrowing | -4.49 | 33 | -127.6 |
| Dividend | 0 | 0 | 0 |
| Equity | 0 | 0 | 0 |
| Others From Financing | 65.49 | 103 | -14.4 |
| Cash Flow from Financing | 61 | 136 | -142 |
| Net Cash Generated | 3 | 106 | -110 |
| Cash at the Start | 1.2 | 4 | 110 |
| Cash at the End | 4.2 | 110 | 0 |
Hira Ferro Alloys Limited is a well-established player in India’s ferro alloys industry, primarily engaged in the production of ferro alloys such as ferro manganese and silico manganese, which are essential inputs for steel manufacturing. As part of the larger Hira Group, the company benefits from integrated operations that span sponge iron, power generation, and steel production. Hira Ferro Alloys operates state-of-the-art manufacturing facilities with modern furnaces, automated handling systems, and stringent quality control processes to deliver consistent alloy-grade material to major steel producers across India. Its strategic location in central India offers advantages in terms of raw material availability, logistics efficiency, and proximity to key industrial regions.
The company emphasizes energy efficiency, resource optimization, and operational excellence by leveraging in-house captive power plants and adopting sustainable manufacturing practices. This vertical integration helps reduce production costs and ensures steady supply, enhancing its competitiveness in the ferro alloys market. Over the years, Hira Ferro Alloys has diversified its customer base, supplying to large integrated steel manufacturers, secondary steel units, and foundries. The company continues to invest in technological upgrades, automation, and capacity expansion to meet rising demand from the steel sector. With increasing infrastructure development, automotive production, and construction activity in India, the demand for ferro alloys remains strong, providing stable long-term growth opportunities for the company.
Hira Ferro Alloys Limited’s unlisted shares attract investor interest due to the company’s strong positioning within the steel value chain, integrated operational model, and steady demand outlook for ferro alloys. While investing in unlisted shares involves factors like reduced liquidity and limited public disclosures, Hira Ferro Alloys’ stable production capacity, cost-efficient operations, and association with the reputable Hira Group make it an appealing consideration for long-term investors. As India ramps up steel production to meet its infrastructure and industrial targets, companies like Hira Ferro Alloys are well-positioned to benefit from sustained demand. This enhances the potential value appreciation of its unlisted shares in the foreseeable future.
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.