HARDWYNConsumer Discretionary

Hardwyn India Limited

Furniture, Home Furnishing · ISIN INE626Z01029 · BSE 541276 · NSE EQ · FV ₹1
Last price
₹9
+0.33%today
What this company does

Hardwyn India Limited operates in Furniture, Home Furnishing, part of the Consumer Discretionary sector. It booked ₹35 cr of revenue in its latest quarter (Q1 FY27) and kept 8.1% of sales as profit. It is the 5th largest of 5 Furniture, Home Furnishing companies we track, by market value.

In the report:
59out of 100
Equitytale Health Score
Mixed

Healthier than 59% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 187–421 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
33

At close. Not part of the score.

Profitability & returns36

How much profit it earns on the money it employs

Balance sheet79

How much it owes, and whether earnings cover the interest

Cash quality52

Whether reported profit actually arrives as cash

Growth & consistency68

Whether sales and profit have grown, and how steadily

Valuation41

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 44%
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Sales down 19% vs last year
! Profit down 23% vs last year
! Low 2.8% return on equity

What if I invest in HARDWYN?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹9 +0.33%
latest close · 2026-09-17
52-wk low ₹842 sessions so far52-wk high ₹12
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio37.8High
LowAverageHigh
P/B ratio1.09Moderate
Below bookModerateHigh
EV / EBITDA24.8High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity2.8%Weak
WeakFairStrong ▸15%
Return on capital3.9%Weak
WeakFairStrong
Net margin8.1%Decent
ThinDecentStrong
EBITDA margin13.1%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.01Comfortable
LowModerateHigh ▸1
Interest cover13.0×Strong
RiskyOkayStrong ▸5×
Current ratio2.13Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹443 cr
Book value
₹8
EPS
₹0.06
latest quarter
Net debt
₹5 cr
owes more than its cash
Enterprise value
₹448 cr
EBITDA
₹18 cr
annualised
EBIT
₹16 cr
annualised
Operating margin
11.6%
Return on assets
2.4%
Earnings yield
2.65%
P/S
3.20
Sales / share
₹2.8
Tax rate
24.4%
Face value
₹1
Shares
48.8 cr
Working capital
₹61 cr
Current assets
₹115 cr
Current liabilities
₹54 cr
Delivery %
58.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹6₹8, midpoint ₹7

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹35 cr
Other Income₹3.1 L
Total Income₹35 cr
Cost of Materials₹89.6 L
Purchases of Stock-in-Trade₹33 cr
Inventory Change (±)₹-5 cr
Employee Benefit Expense₹1 cr
Finance Costs₹31 L
Depreciation & Amortisation₹51.4 L
Other Expenses₹74.3 L
Total Expenses₹31 cr
Profit before Tax₹4 cr
Tax Expense₹90.3 L
Net Profit₹3 cr
Net margin on total income8.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹28 cr81.6%
Employee benefit expense₹1 cr3.2%
Finance costs₹31 L0.9%
Depreciation & amortisation₹51.4 L1.5%
Other expenses₹74.3 L2.1%
Tax expense₹90.3 L2.6%
Profit for the period₹3 cr8.1%
Total income ₹35 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue49 cr57 cr35 cr
Total income49 cr57 cr35 cr
Expenses47 cr52 cr31 cr
Profit before tax2 cr5 cr4 cr
Tax67.6 L2 cr90.3 L
Net profit (owners' share)2 cr3 cr3 cr
Net margin (owners' share, on revenue)3.6%6.0%8.1%
EPS (₹)0.040.070.06
YoY (latest quarter): total income -19.5% · net profit -22.9%
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹466 cr
Shareholder equity
₹406 cr
parent shareholders
Total debt
₹5 cr
Cash
₹21.7 L
Cash flow · H1 FY26
Operating
₹5 cr
Investing
₹-97 L
Financing
₹-4 cr
Peer comparison
Furniture, Home Furnishing · by market value
CompanyPriceMarket capP/E
Sheela Foam Limited₹673₹7,349 cr29.9
Wakefit Innovations Limited₹146₹4,824 cr51.3
Responsive Industries Limited₹163₹4,356 cr408.5
Stanley Lifestyles Limited₹138₹787 cr430.1
Hardwyn India Limitedthis company₹9₹443 cr37.8
Euro Pratik Sales Limited₹23531.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Bonus issue5:228 Jul 2026
Bonus issue5:227 Dec 2024
Stock splitStock Split From Rs.10/- to Rs.1/-5 Jun 2023
Bonus issue3:15 Jun 2023
Bonus issue2:125 Jul 2022
Who owns it · 2026-07-29
No pledge
Promoter
43.8%
FII / Foreign
0.3%
DII / Domestic
Retail / others
55.9%
Smart-money activity
Bulk / block deals
SoldMSB E TRADE SECURITIES LIMITED · NSE34.32 L @ ₹24.820 Apr 26
BoughtMSB E TRADE SECURITIES LIMITED · NSE33.28 L @ ₹24.6520 Apr 26
SoldSHALINI JAIN · NSE25.49 L @ ₹19.193 Jan 25
Stake changes
BoughtHarkanwar Singh Sethi · promoter→ 5.09% · 13.33 L14 Mar 23
BoughtGinni Chadha · promoter→ 19.10% · 50.00 L14 Mar 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 12 Nov 2025
See the official result
1
TO RECEIVE, CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS (BOTH STANDALONE AND CONSOLIDATED FINANCIAL STATEMENTS) OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2025 TOGETHER WITH DIRECTOR’S REPORT AND THE AUDITORS REPORT THEREON
Backed by 100% of shareholders other than promotersneeded 50%
13.88 cr votes for, 1,215 against
2
TO RE-APPOINT MS. TANYA SAYAL (DIN- 02821564), WHO IS LIABLE TO RETIRE BY ROTATION BEING ELIGIBLE OFFERS HERSELF FOR REAPPOINTMENT
Backed by 100% of shareholders other than promotersneeded 50%
13.88 cr votes for, 1,215 against
3
RE-APPOINTMENT OF M/S S.S. PERIWAL & COMPANY, CHARTERED ACCOUNTANTS (FRN:001021N) AS STATUTORY AUDITORS OF THE COMPANY
Backed by 100% of shareholders other than promotersneeded 50%
13.88 cr votes for, 1,215 against
4
RE-APPOINTMENT OF MR. RUBALJEET SINGH SAYAL (DIN: 00280624) AS THE MANAGING DIRECTOR OF THE COMPANY
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 50%
13.88 cr votes for, 1,215 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 2 named members
owning 43.8% between them · as of 2026-07-29
RUBALJEET SINGH SAYAL23.70%
SWARAN JEET SINGH SAYAL20.06%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.