HD Fire Protect Ltd.
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Overview
HD Fire Protect Limited manufactures and supplies fire protection equipment and fire suppression systems across water-, foam- and gas-based technologies. The company designs many products in-house and sells across eight product categories (including sprinklers, alarm and deluge valves, foam systems, monitors/nozzles, system valves, water spray nozzles, custom-engineered skids and gas suppression systems) to high-hazard industrial users as well as commercial and residential customers. It operates manufacturing facilities in Jalgaon and Thane (Maharashtra), exports to 90+ countries, and competes in a certification-driven market with UL/FM/ASME and other approvals.
Opening Date
Oct 13, 2026
Closing Date
Oct 15, 2026
Listing Date
Oct 21, 2026
IPO Type
Mainboard
IPO Status
Upcoming
Issue Size
712.31 Cr
Fresh Issue
0 Cr
Offer for Sale
712.31 Cr
Price Band
₹258 - ₹271
Lot Size
55
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
40.69
EPS
6.66
ROE
6.13%
ROCE
8.36%
RONW
5.97%
Debt to Equity Ratio
—
PAT Margin
20.92%
EBITDA Margin
27.26%
P/B
12.63
Bull vs Bear
Bull case
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Certifications and empanelment take months, so incumbents with approvals can win regulated projects others can’t enter easily.
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Wide product range across water, foam and gas spreads risk across sectors, so one industry slowdown hurts less.
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Large export share with 90+ countries diversifies demand, reducing reliance on one geography’s building cycle.
Bear case
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A product failure in safety equipment can trigger claims and reputational damage, which can quickly reduce customer trust and future orders.
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About one-third of revenue is from outside India, so regulatory changes or slower demand in key export regions can hit sales and cash flows.
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Top 10 suppliers form a large share of total expenses and there are no long-term contracts, so supply disruption can raise costs or delay deliveries.
Subscription Rate
Subscription data will be available once the IPO opens.
Application Details
