---
title: "Hemant Surgical Industries Ltd (543916) — Share Price, Financials & Analysis"
symbol: "543916"
company: "Hemant Surgical Industries Ltd"
canonical: "https://tapetide.com/stocks/543916"
isin: "INE0GYI01028"
nse_symbol: "HEMANTSURGICALINDUSTRIESLTD"
bse_code: "543916"
sector: "Healthcare"
industry: "Medical Equipment"
market_cap_cr: 654.16
generated_at: "2026-09-13T18:27:38.445Z"
---

# Hemant Surgical Industries Ltd (543916)

Canonical page: https://tapetide.com/stocks/543916

## Company

- **NSE Symbol:** HEMANTSURGICALINDUSTRIESLTD
- **BSE Code:** 543916
- **ISIN:** INE0GYI01028
- **Sector:** Healthcare
- **Industry:** Medical Equipment
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Listed Since:** 2023-06-05
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** hemantsurgical.com

## About

Incorporated in 1989, Hemant Surgical Industries Ltd is in the business of Medical Equipment & Supplies[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:52:01.264455Z.

- **Market Cap:** ₹654.16 Cr
- **Classification:** SME
- **P/E (reported):** 36.9
- **EPS (reported):** ₹9.39
- **Book Value:** ₹115
- **Price to Book:** 4.01
- **Dividend Yield:** 0%
- **ROE:** 12.73%
- **ROCE:** 14.55%
- **Debt to Equity:** 0.36
- **Revenue (yearly):** ₹231.81 Cr
- **Net Income:** ₹19.34 Cr
- **EBITDA:** ₹23.23 Cr
- **52-Week High:** ₹497
- **52-Week Low:** ₹215
- **RSI (14):** 72.73

## Tapetide Score

- **Score:** 61 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 90.4 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 39.95 | 9% |
| growth | 98.9 | 9% |
| momentum | 65.76 | 12% |
| ownership | 64.9 | 24% |
| quality | 71.13 | 22% |
| valuation | 42.47 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 68.0% CAGR over last 5 years
- Company's working capital requirements have reduced from 45.5 days to 24.0 days

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -6.07%
- Debtor days have increased from 83.7 to 106 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -60.76% | -84.54% | 363.88% |
| ebitda margin growth | -22.52% | — | — |
| net income growth | 141.75% | 34% | 68% |
| revenue growth | 107.34% | 28% | 31% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 51 | 58 | 48 | 58 | 49 | 58 | 64 | 167 |
| Expenses | 47 | 52 | 44 | 51 | 45 | 52 | 57 | 151 |
| Operating Profit | 4 | 6 | 3 | 7 | 4 | 6 | 8 | 16 |
| OPM % | 8 | 11 | 7 | 13 | 7 | 10 | 12 | 9 |
| Other Income | 1 | 1 | 3 | 2 | 2 | 3 | 2 | 3 |
| Interest | 1 | 1 | 1 | 0 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 6 | 5 | 8 | 4 | 6 | 7 | 16 |
| Tax % | 36 | 18 | 17 | 27 | 29 | 18 | 25 | 22 |
| Net Profit | 2 | 5 | 4 | 6 | 3 | 5 | 5 | 13 |
| EPS in Rs | 48.12 | 6.93 | 3.75 | 5.63 | 3.05 | 4.74 | 4.15 | 9.84 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 51 | 56 | 56 | 60 | 101 | 109 | 106 | 107 | 231 |
| Expenses | 48 | 53 | 53 | 57 | 95 | 98 | 95 | 97 | 208 |
| Operating Profit | 2 | 3 | 3 | 3 | 6 | 11 | 10 | 9 | 23 |
| OPM % | 4.9 | 4.8 | 4.7 | 5 | 6 | 10 | 10 | 9 | 10 |
| Other Income | 0 | 0 | 0 | 1 | 2 | 2 | 4 | 5 | 6 |
| Interest | 1 | 1 | 2 | 2 | 2 | 2 | 1 | 2 | 4 |
| Depreciation | 0 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 |
| Profit before tax | 1 | 1 | 1 | 1 | 6 | 10 | 13 | 11 | 24 |
| Tax % | 10 | 8 | 41 | 9 | 25 | 24 | 23 | 23 | 23 |
| Net Profit | 1 | 1 | 0 | 1 | 5 | 8 | 10 | 8 | 18 |
| EPS in Rs | 50.76 | 61.02 | 27 | 73.43 | 248.92 | 9.95 | 9.39 | 7.79 | 13.98 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 8 | 10 | 10 | 13 |
| Reserves | 5 | 6 | 5 | 8 | 11 | 16 | 44 | 53 | 124 |
| Borrowings | 9 | 11 | 14 | 14 | 10 | 7 | 7 | 31 | 50 |
| Other Liabilities | 12 | 14 | 23 | 15 | 32 | 34 | 38 | 54 | 87 |
| Total Liabilities | 28 | 33 | 44 | 40 | 54 | 65 | 100 | 148 | 274 |
| Fixed Assets | 7 | 8 | 10 | 11 | 12 | 13 | 18 | 40 | 53 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 0 |
| Investments | 0 | 0 | 1 | 0 | 1 | 0 | 5 | 1 | 0 |
| Other Assets | 21 | 25 | 33 | 29 | 42 | 51 | 77 | 94 | 220 |
| Total Assets | 28 | 33 | 44 | 40 | 54 | 65 | 100 | 148 | 274 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | 2 | -4 | 12 | 6 | -4 | 9 | -32 |
| Cash from Investing Activity | 0 | 0 | -2 | -2 | 0 | -3 | -12 | -30 | -3 |
| Cash from Financing Activity | 0 | 0 | 2 | 5 | -8 | -1 | 21 | 18 | 69 |
| Net Cash Flow | 0 | 0 | 2 | -2 | 4 | 3 | 5 | -4 | 34 |
| Free Cash Flow | 0 | 0 | -1 | -7 | 12 | 2 | -13 | -25 | -34 |
| CFO/OP | 0 | 0 | 68 | -127 | 197 | 84 | -9 | 126 | -118 |

### Ratios

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 35 | 36 | 35 | 26 | 56 | 58 | 75 | 70 | 106 |
| Inventory Days | 64 | 73 | 125 | 113 | 57 | 67 | 99 | 205 | 120 |
| Days Payable | 102 | 97 | 143 | 89 | 92 | 110 | 116 | 188 | 146 |
| Cash Conversion Cycle | -3 | 12 | 17 | 51 | 21 | 15 | 58 | 87 | 80 |
| Working Capital Days | 12 | 23 | -28 | 41 | -19 | 2 | 52 | 61 | 24 |
| ROCE % | — | 15 | 12 | 14 | 32 | 45 | 30 | 16 | 20 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.56% | 73.56% | 73.56% | 73.56% | 73.56% | 58.9% | 58.9% | 52.83% |
| FIIs | 0% | 0% | 0% | 0% | 0.39% | 0.15% | 0.15% | 0.14% |
| DIIs | 0.49% | 0% | 1.97% | 1.13% | 1.11% | 10.81% | 10.81% | 9.62% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 11% | 17.47% | 20.64% | 20.24% | 20.87% | 23.17% | 23.22% | 22.61% |
| Others | 14.94% | 8.97% | 3.82% | 5.07% | 4.06% | 6.97% | 6.91% | 14.8% |
| No. of Shareholders | 830 | 722 | 1229 | 1248 | 1229 | 748 | 758 | 948 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 3 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 414.68 | Buy |
| EMA (10) | 429.1 | Buy |
| SMA (20) | 387.89 | Buy |
| EMA (20) | 404.8 | Buy |
| SMA (50) | 378.51 | Buy |
| EMA (50) | 383.61 | Buy |
| SMA (100) | 370.51 | Buy |
| EMA (100) | 364.71 | Buy |
| SMA (200) | 325.51 | Buy |
| EMA (200) | 326.16 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 72.45 | Sell |
| MACD (12,26,9) | 24.58 | Buy |
| Stochastic (14,3,3) | 79.17 | Neutral |
| ADX (14) | 25.68 | Buy |
| Williams %R (14) | -19.56 | Sell |
| ATR (14) | 22.88 | High Volatility |
| ROC (12) | 23.4 | Buy |
| Stoch RSI (14) | 78.71 | Neutral |
| UO (7,14,28) | 70.07 | Sell |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-05 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b5ee10b1-87ea-41e2-adb2-549869b23194.pdf) |
| 2026-09-04 | [Notice Of The 37Th Annual General Meeting (AGM) Of The Company Will Be Held On Tuesday September 29 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=31b646c9-927a-485b-9bb9-633ea2220b39.pdf) |
| 2026-09-04 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=81b37aa7-8e7e-415b-9fee-ca76b9172833.pdf) |
| 2026-09-04 | [The Company Has Issued Letters To Those ShareholderS Whose Email Addresses Are Not Registered With The Company/RTA/ Depository Participants.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3a98a6c1-2db9-4734-969e-b4d2666a0590.pdf) |
| 2026-08-31 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d41f681d-6091-4aaa-999b-143adb601a3b.pdf) |
| 2026-08-29 | [Board Meeting Outcome for Held On August 29 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b7ce4cc9-a7f9-4520-bee2-159416eac580.pdf) |
| 2026-07-10 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2130192c-7ea4-4e39-8ffc-0c957caed4d4.pdf) |
| 2026-06-09 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a15d6f82-4b1a-4f67-8437-dbb91b2dfd7e.pdf) |
| 2026-06-09 | [Revised Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015-Execution Of Semi Knocked Down (SKD) Manufacturing Agreement With Sonomed Escalon USA](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e3c2a5d9-8ab7-4759-8915-80a1c8351019.pdf) |
| 2026-06-01 | [Announcement under Regulation 30 (LODR)-Updates on Acquisition](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb99eafa-73b7-48cf-98c8-41ea15e73f4d.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-15 | [Audited Financial Results Of The Company For Half And Financial Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ac7e5399-b65c-4b0a-9544-8079f0cefd8a.pdf) |
| 2025-11-12 | [Un-Audited Financial Results Of The Company For The Half Year Ended On September 30 2025.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=624fc491-3073-4205-a430-3f5be939f8c8.pdf) |
| 2025-05-28 | [Audited Results For Half And Financial Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2592bf3d-5e95-4942-853b-e2805462a441.pdf) |
| 2024-11-13 | [Un-Audited Financial Results Of The Company For The Half Year Ended On September 30, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a71f10bd-45ee-4a2a-9058-f49d562849f3.pdf) |
| 2024-05-21 | [Audited Financial Results Of The Company For The Half And Financial Year Ended On March 31, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d1768009-420c-4a0f-9c49-c09386e5e000.pdf) |
| 2023-11-09 | [Outcome Of The Board Meeting Pursuant To Regulation 30 And 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 Held On Thursday, November 09, 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c0b6c92c-f061-42a9-ab5a-c2df49bab545.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7 Apr - Regulation 74(5) certificate filed for quarter ended March 31, 2026; all shares remain in demat form. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Apr - Regulation 74(5) certificate filed for quarter ended March 31, 2026; all shares remain in demat form.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c09af31f-3aa2-4fd1-9013-ade5a480bbea.pdf) |
| 31 Mar - Hemant Surgical signed SKD agreement with Sonomed Escalon USA to localize 100% ophthalmic ultrasound device manufacturing. | [Execution Of Semi Knocked Down (SKD) Manufacturing Agreement With Sonomed Escalon, USA 31 Mar - Hemant Surgical signed SKD agreement with Sonomed Escalon USA to localize 100% ophthalmic ultrasound device manufacturing.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cfebc495-6e38-402b-af38-1ba4c6e81dc3.pdf) |
| 2d - Board meets May 15, 2026 to approve audited FY26 half-year and annual results; trading window closed since April 1. | [Board Meeting Intimation for Audited Standalone And Consolidated Financial Results Of The Company For The Half Year And Financial Year Ended March 31, 2026 2d - Board meets May 15, 2026 to approve audited FY26 half-year and annual results; trading window closed since April 1.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/034a03a3-66e1-46bb-a866-b84e954e8248.pdf) |
| 2 Apr - Hemant Surgical signed C-ARM development and supply agreement with GBT Korea Co., Ltd. on April 2, 2026. | [Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements 2 Apr - Hemant Surgical signed C-ARM development and supply agreement with GBT Korea Co., Ltd. on April 2, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/91e1a15b-0f5c-4791-a424-39117b700959.pdf) |
| 19 Feb - CMSS purchase orders worth Rs.264.33 crore for flat panel detectors; supplies to commence; delivery by Sep 30, 2026. | [Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 19 Feb - CMSS purchase orders worth Rs.264.33 crore for flat panel detectors; supplies to commence; delivery by Sep 30, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/922ae7b6-8869-4968-a661-69c087b4dcc2.pdf) |
| 12 Nov 2025 - No deviation in utilization of Rs. 2,848.00 lakh IPO proceeds; statement for half-year ended Sep 30, 2025. | [Statement Of Deviation Or Variation Pursuant To Regulation 32 Of SEBI (LODR) Regulations 2015 12 Nov 2025 - No deviation in utilization of Rs. 2,848.00 lakh IPO proceeds; statement for half-year ended Sep 30, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/dadbd4db-70ee-4e19-b27c-73326c6ee8a6.pdf) |
| 12 Nov 2025 - No deviation in use of Rs61.53 crore raised Sept 16/18, 2025; ₹1,543.32L used, ₹4,609.38L balance. | [Statement Of Deviation Or Variation Pursuant To Regulation 32 Of SEBI (LODR) Regulations 2015 12 Nov 2025 - No deviation in use of Rs61.53 crore raised Sept 16/18, 2025; ₹1,543.32L used, ₹4,609.38L balance.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c8c9be0d-7d48-493f-97ce-7e935f2fcad8.pdf) |
| 12 Nov 2025 - Board approved unaudited H1 results to Sept 30, 2025; revenue Rs6,426.06L; raised Rs6,152.71L; Rs4,609.38L balance. | [Un-Audited Financial Results Of The Company For The Half Year Ended On September 30, 2025. 12 Nov 2025 - Board approved unaudited H1 results to Sept 30, 2025; revenue Rs6,426.06L; raised Rs6,152.71L; Rs4,609.38L balance.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/624fc491-3073-4205-a430-3f5be939f8c8.pdf) |
| — | [Closure of Trading Window 27 Mar](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8d3d0e6e-1c2c-4af0-9792-e16e3b8e30d5.pdf) |
| — | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 12 Jan](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ea7e68d8-8352-42d8-abcd-4fff4862778b.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2cbeac6c-72df-4174-a681-cfd9e9801442.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ae3229c8-b10f-4812-8ae7-3e3a981c2c06.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c0d146e0-36e5-4482-ad87-6ec2325d6e79.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:27:38.445Z.