Hindustan Hardy September revenue rises 47%, profit up 58%

Hindustan Hardy Limited reported revenue from operations of Rs 37.238 crore for the quarter ended 30 September 2026, up 47% from a year earlier, while net profit after tax rose 58% to Rs 3.0528 crore. The quarterly result improved on both the September 2025 and June 2026 quarters, although first-half profit remained below the prior-year period.

How did Hindustan Hardy perform in the September 2026 quarter?

Hindustan Hardy’s revenue from operations increased by Rs 11.9096 crore to Rs 37.238 crore in the quarter ended 30 September 2026, from Rs 25.3284 crore in the corresponding quarter of 2025. Total income rose to Rs 37.2376 crore from Rs 25.7122 crore, as other income fell to Rs 4,000 from Rs 38.38 lakh.

Hindustan Hardy’s net profit after tax increased to Rs 3.0528 crore from Rs 1.9368 crore, while profit before tax rose to Rs 4.1216 crore from Rs 2.6041 crore. Basic and diluted earnings per share, which were not annualised, increased to Rs 20.37 from Rs 12.93, and paid-up equity share capital was unchanged at Rs 1.4985 crore.

The September 2026 quarter was also ahead of the preceding June 2026 quarter, when Hindustan Hardy reported revenue from operations of Rs 24.3485 crore and net profit after tax of Rs 1.1762 crore. Profit before tax rose from Rs 1.6164 crore in June to Rs 4.1216 crore in September, following total income of Rs 24.6134 crore in the preceding quarter.

Which costs changed in Hindustan Hardy’s September quarter?

Hindustan Hardy’s total expenses rose by Rs 10.0079 crore to Rs 33.116 crore in the September 2026 quarter, compared with Rs 23.1081 crore a year earlier. Cost of materials consumed, including purchases of stock in trade, increased to Rs 21.2687 crore from Rs 13.9892 crore, accounting for Rs 7.2795 crore of the expense increase.

Other expenses increased to Rs 6.6688 crore from Rs 4.7629 crore, while employee-benefit expense declined to Rs 3.936 crore from Rs 4.2126 crore. Depreciation and amortisation rose to Rs 47.81 lakh from Rs 35.21 lakh, finance costs increased to Rs 13.75 lakh from Rs 7.20 lakh, and inventory changes were an expense of Rs 62.69 lakh compared with a Rs 28.07 lakh reduction a year earlier.

Hindustan Hardy reported tax expense of Rs 1.0689 crore in the latest quarter, against Rs 66.73 lakh in the September 2025 quarter. Current tax was Rs 85.06 lakh and deferred tax was Rs 21.83 lakh, while other comprehensive income after tax was Rs 2.78 lakh, taking profit for the period to Rs 3.0806 crore.

Why did Hindustan Hardy’s first-half profit decline despite higher revenue?

Hindustan Hardy’s revenue from operations for the half year ended 30 September 2026 increased 18% to Rs 61.5865 crore from Rs 52.0787 crore, but net profit after tax declined 14% to Rs 4.2288 crore from Rs 4.9188 crore. Total expenses increased 22% to Rs 56.1131 crore from Rs 46.1052 crore, exceeding the pace of revenue growth.

Hindustan Hardy’s first-half profit before tax fell to Rs 5.7379 crore from Rs 6.6628 crore, while total income rose to Rs 61.851 crore from Rs 52.768 crore. The September quarter contributed Rs 3.0528 crore of the six-month net profit, compared with Rs 1.1762 crore contributed by the June 2026 quarter.

Material costs for the six months rose to Rs 35.6415 crore from Rs 28.8558 crore, and other expenses increased to Rs 12.2484 crore from Rs 9.6652 crore. Depreciation and amortisation rose to Rs 90.68 lakh from Rs 70.08 lakh, finance costs increased to Rs 22.14 lakh from Rs 16.09 lakh, while employee-benefit expense declined to Rs 7.5538 crore from Rs 8.2071 crore.

Hindustan Hardy’s half-year tax expense declined to Rs 1.5091 crore from Rs 1.744 crore, including current tax of Rs 1.3599 crore and deferred tax of Rs 14.92 lakh. Profit for the period including other comprehensive income was Rs 4.3184 crore, against Rs 4.9634 crore a year earlier, and basic and diluted earnings per share fell to Rs 28.22 from Rs 32.83.

What did Hindustan Hardy report on assets, borrowings and cash flow?

Hindustan Hardy reported total assets of Rs 76.0511 crore at 30 September 2026, compared with Rs 64.8274 crore at 31 March 2026. Total equity increased to Rs 41.3961 crore from Rs 37.4974 crore, as other equity rose to Rs 39.8977 crore from Rs 35.9989 crore.

Current assets rose to Rs 50.0699 crore from Rs 43.2107 crore at 31 March 2026. Trade receivables increased to Rs 24.2016 crore from Rs 22.1937 crore, inventories rose to Rs 14.6799 crore from Rs 11.7298 crore, and cash and cash equivalents fell to Rs 1.3324 crore from Rs 4.3562 crore.

Hindustan Hardy generated operating cash flow of Rs 3.6146 crore in the six months ended 30 September 2026 and spent Rs 5.2404 crore on purchases of property, plant and equipment, including work in progress. Investing cash outflow was Rs 5.2374 crore and financing cash outflow was Rs 1.4009 crore, resulting in a Rs 3.0237 crore decrease in cash and cash equivalents.

Hindustan Hardy had non-current borrowings of Rs 4.1751 crore and current borrowings of Rs 4.4836 crore at 30 September 2026. Current liabilities increased to Rs 29.9629 crore from Rs 24.2026 crore at 31 March 2026, including Rs 19.2581 crore due to creditors other than micro and small enterprises; the board approved the unaudited standalone results on 5 November 2026 after audit committee review.

What business does Hindustan Hardy report as its operating segment?

Hindustan Hardy reports one operating segment under Indian Accounting Standard 108, covering the design and manufacture of propeller shafts and related accessories. The products serve automotive, industrial, agricultural and other applications, according to the results notes for the half year ended 30 September 2026.

Hindustan Hardy stated that it had no subsidiary, associate or joint venture as at 30 September 2026. The reported financial statements are therefore standalone results, and the statutory auditors issued a limited review report for the quarter ended 30 September 2026 and the period from 1 April 2026 to 30 September 2026.

Conclusion

Hindustan Hardy’s September-quarter performance showed a 47% rise in revenue from operations to Rs 37.238 crore and a 58% increase in net profit after tax to Rs 3.0528 crore. The improvement followed higher material and other expenses, but the first-half comparison remained different: revenue rose 18% while net profit after tax declined 14% to Rs 4.2288 crore.

The next results will show whether revenue builds on the Rs 61.5865 crore reported for the half year and whether material costs, which reached Rs 35.6415 crore, continue to rise faster than sales. Cash and balance-sheet effects of the Rs 5.2404 crore spent on property, plant and equipment during the six months, alongside cash of Rs 1.3324 crore at 30 September 2026, also remain relevant to subsequent disclosures.