Hardcastle & Waud Mfg Co
Chemicals
509597 BSE
₹819.20
Close ·
- P/E
- 10.64
Close 4 Nov 2026 ₹819.20 +112.30 +15.9% 1Y
Start ₹706.90
Key Fundamentals
MicrocapChemicals & PetrochemicalsChemicalsPrice-based figures at the close · EPS basis: Standalone · TTM
- ROCE
- 11.30%
- Debt to Equity
- 0.00
- EPS (TTM)
- ₹76.97
- Book Value
- ₹782.43
- Market Cap
- —
- P/E (TTM)
- 10.64
- P/B
- 1.05
- ROE
- 10.20%
- Dividend Yield
- 0.00%
- EBITDA
- ₹6.20 Cr
- 52W High
- ₹1,048.00
- 52W Low
- ₹602.25
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
63 Good
Data confidence 98/100
Category scores
- Quality
- 45
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 60
- Good
- Cheap vs sector & own history 24% weight
- Growth
- 98
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 87
- Strong
- Solvency, leverage, coverage 9% weight
- Momentum
- 75
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
3- Company is almost debt free.
- Stock is trading at 1.06 times its book value
- Company has delivered good profit growth of 246% CAGR over last 5 years
Weaknesses
5- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of 6.47% over last 3 years.
- Contingent liabilities of Rs.19.6 Cr.
- Working capital days have increased from 28.7 days to 125 days
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bullish | 4 | 5 | 10 |
| Oscillators | Bullish | 1 | 5 | 3 |
| Moving Averages | Strong Bullish | 3 | 0 | 7 |
Oscillators
Bullish
Bearish
1
Neutral
5
Bullish
3
Overall
Strong Bullish
Bearish
4
Neutral
5
Bullish
10
Moving Averages
Strong Bullish
Bearish
3
Neutral
0
Bullish
7
Key readings
- RSI (14)
- 51.38
- Neutral
- MACD (12,26,9)
- −8.37
- Bullish
- SMA (50)
- 826.82
- Bearish
- SMA (200)
- 773.98
- Bullish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +6.88% |
|---|---|
| 5Y | +27.24% |
| 3Y | +39.61% |
| 1Y | +80.03% |
| TTM | +77.85% |
Net profit
| 10Y | Turned to profit |
|---|---|
| 5Y | +245.60% |
| 3Y | +64.87% |
| 1Y | +282.17% |
| TTM | +468.48% |
Operating cash flow
| 10Y | Turned negative |
|---|---|
| 5Y | Turned negative |
| 3Y | Outflow widened by ₹0.90 Cr |
| 1Y | Turned negative |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | +17.57 pp |
|---|---|
| 5Y | +25.74 pp |
| 3Y | +8.94 pp |
| 1Y | +0.82 pp |
| TTM | +4.85 pp |
Revenue by year
| Mar 2017 | ₹8.19 Cr |
|---|---|
| Mar 2018 | ₹4.21 Cr |
| Mar 2019 | ₹2.89 Cr |
| Mar 2020 | ₹3.52 Cr |
| Mar 2021 | ₹3.19 Cr |
| Mar 2022 | ₹4.16 Cr |
| Mar 2023 | ₹3.91 Cr |
| Mar 2024 | ₹5.43 Cr |
| Mar 2025 | ₹5.91 Cr |
| Mar 2026 | ₹10.64 Cr |
Net profit by year
| Mar 2017 | ₹4.04 Cr |
|---|---|
| Mar 2018 | ₹1.09 Cr |
| Mar 2019 | ₹0.12 Cr |
| Mar 2020 | ₹0.90 Cr |
| Mar 2021 | ₹0.01 Cr |
| Mar 2022 | ₹1.27 Cr |
| Mar 2023 | ₹1.10 Cr |
| Mar 2024 | ₹2.58 Cr |
| Mar 2025 | ₹1.29 Cr |
| Mar 2026 | ₹4.93 Cr |
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1.15 | 1.36 | 1.61 | 1.29 | 1.59 | 1.13 | 1.39 | 1.77 | 1.94 | 2.38 | 2.93 | 3.36 | 2.41 |
| Expenses | 0.54 | 0.68 | 0.52 | 0.42 | 0.47 | 0.58 | 0.44 | 1.32 | 0.83 | 1.57 | 0.98 | 1.55 | 1 |
| Operating Profit | 0.61 | 0.68 | 1.09 | 0.87 | 1.12 | 0.55 | 0.95 | 0.45 | 1.11 | 0.81 | 1.95 | 1.81 | 1.41 |
| OPM % | 53.04% | 50% | 67.7% | 67.44% | 70.44% | 48.67% | 68.35% | 25.42% | 57.22% | 34.03% | 66.55% | 53.87% | 58.51% |
| Other Income | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.13 | 0.12 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.17 | 0.17 | 0.16 | 0.16 | 0.17 | 0.18 | 0.19 | 0.19 | 0.19 | 0.2 | 0.2 | 0.2 | 0.2 |
| PBT | 0.55 | 0.62 | 1.04 | 0.82 | 1.06 | 0.48 | 0.87 | 0.37 | 1.04 | 0.73 | 1.88 | 1.74 | 1.33 |
| Tax % | −5.45% | −11.29% | 25.96% | 32.93% | −6.6% | 214.58% | 29.89% | 75.68% | 25.96% | 2.74% | 25% | −17.24% | 19.55% |
| Net Profit | 0.58 | 0.69 | 0.77 | 0.55 | 1.14 | −0.55 | 0.61 | 0.09 | 0.77 | 0.7 | 1.41 | 2.05 | 1.07 |
| EPS (₹) | 8.54 | 10.15 | 11.33 | 8.09 | 16.78 | −8.09 | 8.98 | 1.32 | 11.33 | 10.3 | 20.75 | 30.17 | 15.75 |
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3.14 | 5.47 | 8.19 | 4.21 | 2.89 | 3.52 | 3.19 | 4.16 | 3.91 | 5.43 | 5.91 | 10.64 | 11.08 |
| Expenses | 3.62 | 3.48 | 2.95 | 2.64 | 2.53 | 2.05 | 2.29 | 1.92 | 2.15 | 2.16 | 2.77 | 4.9 | 5.1 |
| Operating Profit | −0.48 | 1.99 | 5.24 | 1.57 | 0.36 | 1.47 | 0.9 | 2.24 | 1.76 | 3.27 | 3.14 | 5.74 | 5.98 |
| OPM % | −15.29% | 36.38% | 63.98% | 37.29% | 12.46% | 41.76% | 28.21% | 53.85% | 45.01% | 60.22% | 53.13% | 53.95% | 53.97% |
| Other Income | 1.93 | 0 | 0.16 | 0.13 | 0.2 | 0.17 | 0.14 | 0.2 | 0.19 | 0.42 | 0.37 | 0.45 | 0.5 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.32 | 0.33 | 0.36 | 0.39 | 0.38 | 0.4 | 0.47 | 0.59 | 0.65 | 0.67 | 0.72 | 0.78 | 0.8 |
| PBT | 1.13 | 1.66 | 5.04 | 1.31 | 0.18 | 1.24 | 0.57 | 1.85 | 1.3 | 3.02 | 2.79 | 5.41 | 5.68 |
| Tax % | −15.93% | 689.76% | 19.84% | 16.03% | 38.89% | 26.61% | 98.25% | 31.35% | 16.15% | 14.57% | 53.41% | 8.87% | — |
| Net Profit | 1.3 | −9.79 | 4.04 | 1.09 | 0.12 | 0.9 | 0.01 | 1.27 | 1.1 | 2.58 | 1.29 | 4.93 | 5.23 |
| EPS (₹) | 19.13 | −144 | 59.46 | 16.04 | 1.77 | 13.25 | 0.15 | 18.69 | 16.19 | 37.97 | 18.98 | 72.55 | 76.97 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 | 0.68 |
| Reserves | 44.88 | 35.07 | 34.95 | 36.09 | 36.13 | 34.42 | 34.23 | 39.54 | 41.08 | 43.8 | 44.84 | 50.03 |
| Borrowings | 0 | 0 | 0 | 0 | 0.25 | 0.05 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 2.39 | 3.65 | 2.48 | 2.42 | 2.48 | 2.5 | 2.55 | 3.31 | 1.55 | 1.44 | 3.15 | 3.23 |
| Total Liabilities | 47.95 | 39.4 | 38.11 | 39.19 | 39.54 | 37.65 | 37.46 | 43.53 | 43.31 | 45.92 | 48.67 | 53.94 |
| Fixed Assets | 7.44 | 7.14 | 9.53 | 9.41 | 10.38 | 11.12 | 19.31 | 19.71 | 20.22 | 19.65 | 20.52 | 20.24 |
| CWIP | 0 | 0 | 0.19 | 0.02 | 0 | 0.27 | 0.24 | 0.1 | 0.03 | 0.47 | 0.22 | 0.26 |
| Investments | 24.55 | 25.31 | 19.71 | 20.41 | 19.91 | 16.05 | 13.04 | 13.68 | 19.59 | 23.06 | 26.45 | 27.22 |
| Other Assets | 15.96 | 6.95 | 8.68 | 9.35 | 9.25 | 10.21 | 4.87 | 10.04 | 3.47 | 2.74 | 1.48 | 6.22 |
| Total Assets | 47.95 | 39.4 | 38.11 | 39.19 | 39.54 | 37.65 | 37.46 | 43.53 | 43.31 | 45.92 | 48.67 | 53.94 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 17.25 | 0.58 | −1.65 | −0.6 | 0.65 | 0.16 | 1.35 | 3.21 | −2.96 | 3.08 | 0.69 | −3.86 |
| Investing | −17.1 | −0.75 | 1.55 | 0.53 | −0.89 | −0.25 | −1.25 | −3.11 | 3.07 | −1.55 | −2.4 | 4.54 |
| Financing | 0 | 0 | 0 | 0 | 0.25 | −0.2 | −0.05 | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0.15 | −0.18 | −0.1 | −0.07 | 0.01 | −0.29 | 0.05 | 0.1 | 0.11 | 1.54 | −1.71 | 0.68 |
| Free Cash Flow | 16.95 | 0.54 | −2.55 | −0.71 | −0.66 | −0.44 | 0.5 | 2.38 | −4.03 | 2.53 | −0.7 | −3.34 |
| CFO/EBITDA | −3,617 | 40 | −31 | −20 | 139 | 10 | 152 | 164 | −147 | 107 | 45 | −63 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 49.98 | 28.03 | 15.6 | 29.48 | 45.47 | 26.96 | 73.23 | 21.94 | 10.27 | 0 | 37.67 | 9.95 |
| Inventory Days | 1.88 | 0 | 0 | 2.64 | 9.86 | 132 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payable | 20.7 | — | — | 0 | 9.86 | 40.56 | — | — | — | — | — | — |
| Cash Conversion Cycle | 31.17 | 28.03 | 15.6 | 32.12 | 45.47 | 118 | 73.23 | 21.94 | 10.27 | 0 | 37.67 | 9.95 |
| Working Capital Days | −212 | −123 | −82.45 | −156 | −292 | −163 | 136 | 618 | 205 | −8.07 | −30.26 | 125 |
| ROCE % | 3.09% | 4.08% | 14.12% | 3.62% | 0.49% | 3.43% | 1.63% | 4.87% | 3.15% | 7% | 6.31% | 11.26% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Hardcastle & Waud Mfg Co insights
60 extracted metrics across FY11–FY27.
Documents
- General announcements 30 Oct 2026
Frequently Asked Questions about Hardcastle & Waud Mfg Co
What does Hardcastle & Waud Mfg Co Ltd do?
Incorporated in 1945, Hardcastle & Waud's business activity currently consists of Industrial Chemicals, Investments and Leasing.
Where is Hardcastle & Waud Mfg Co Ltd (HARDCAS) listed?
Hardcastle & Waud Mfg Co Ltd trades under code 509597 on the BSE.
Which sector does Hardcastle & Waud Mfg Co Ltd belong to?
Hardcastle & Waud Mfg Co Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the PE ratio of Hardcastle & Waud Mfg Co Ltd?
Hardcastle & Waud Mfg Co Ltd trades at a PE ratio of 10.64 as of 4 Nov 2026, on earnings per share of ₹76.97, against a book value of ₹782.43 per share.
What is the 52-week high and low of Hardcastle & Waud Mfg Co Ltd?
Over the last 52 weeks Hardcastle & Waud Mfg Co Ltd has traded between ₹602.25 and ₹1,048 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Hardcastle & Waud Mfg Co Ltd?
Hardcastle & Waud Mfg Co Ltd reported a return on equity of 10.20%. Its debt-to-equity ratio is 0.00.
Company Information
Incorporated in 1945, Hardcastle & Waud's business activity currently consists of Industrial Chemicals, Investments and Leasing.
Website hawcoindia.in
Face Value ₹10
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