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HINDUSTAN COMPOSITES LTD. Share Price Update

As of the latest trading session, HINDUSTAN COMPOSITES LTD. is trading at ₹419.85, down by ₹-14.54 or -3.34% from its previous close. The stock has moved between ₹416.70 and ₹440.00 today. Over the past year, the stock has delivered a return of 0.47%. In the last month, it has returned 7.95%.

HINDUSTAN COMPOSITES LTD. performance

Today’s low Today’s high
₹ 416.70 ₹ 440.00
₹ 420.30
52 week low 52 week high
₹ 347.10 ₹ 550.00
₹ 420.30
Open Price ₹ 431.05
Prev. Close ₹ 434.40
Volume (Shares) 7321.00
Total traded value ₹ 30.77
Upper Circuit ₹ 521.25
Lower Circuit ₹ 347.55
info

Investment Returns

Over 1 Month 7.95% Over 3 Months 4.59% Over 6 Months -3.05% Over 1 Year 0.47%
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HINDUSTAN COMPOSITES LTD. fundamentals


  • Market cap (Cr) 620.70
  • P/E Ratio (TTM) 20.46
  • Beta 1.15
  • Book Value / share 776.90
  • Return on equity 4.17%
  • EPS (TTM) 22.37
  • Dividend yield 1.16%
  • Net profit/quarter (Cr) 11.70
info icon alternate text
  • Market cap (Cr) 618.00
  • P/E Ratio (TTM) 20.46
  • Beta 1.24
  • Book Value / share 776.90
  • Return on equity 4.17%
  • EPS (TTM) 22.37
  • Dividend yield 1.16%
  • Net profit/quarter (Cr) 11.70
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HINDUSTAN COMPOSITES LTD. Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 104.84
Operating Expense 91.73
Net Profit 11.70
Net Profit Margin (%) 11.15
Earnings Per Share (EPS) 7.92
EBITDA 16.74
Effective Tax Rate (%) 13.46
Particulars DEC 2025 (Values in Cr)
Revenue 94.51
Operating Expense 82.73
Net Profit 6.67
Net Profit Margin (%) 7.05
Earnings Per Share (EPS) 4.52
EBITDA 11.92
Effective Tax Rate (%) 24.80
Particulars SEP 2025 (Values in Cr)
Revenue 88.58
Operating Expense 81.05
Net Profit 5.28
Net Profit Margin (%) 5.96
Earnings Per Share (EPS) 3.58
EBITDA 10.53
Effective Tax Rate (%) 29.88
Particulars JUN 2025 (Values in Cr)
Revenue 87.08
Operating Expense 76.31
Net Profit 7.46
Net Profit Margin (%) 8.56
Earnings Per Share (EPS) 5.05
EBITDA 13.76
Effective Tax Rate (%) 30.73
Particulars MAR 2025 (Values in Cr)
Revenue 89.15
Operating Expense 75.52
Net Profit 6.07
Net Profit Margin (%) 6.80
Earnings Per Share (EPS) 4.11
EBITDA 12.29
Effective Tax Rate (%) 37.35
Particulars MAR 2026 (Values in Cr)
Revenue 375.01
Operating Expense 331.82
Net Profit 31.11
Net Profit Margin (%) 8.29
Earnings Per Share (EPS) 21.06
EBITDA 52.95
Effective Tax Rate (%) 23.54
Particulars MAR 2025 (Values in Cr)
Revenue 325.08
Operating Expense 276.66
Net Profit 35.00
Net Profit Margin (%) 10.76
Earnings Per Share (EPS) 23.70
EBITDA 55.12
Effective Tax Rate (%) 21.71
Particulars MAR 2024 (Values in Cr)
Revenue 297.68
Operating Expense 256.01
Net Profit 34.41
Net Profit Margin (%) 11.55
Earnings Per Share (EPS) 23.30
EBITDA 52.22
Effective Tax Rate (%) 19.22
Particulars MAR 2023 (Values in Cr)
Revenue 282.69
Operating Expense 250.94
Net Profit 27.47
Net Profit Margin (%) 9.71
Earnings Per Share (EPS) 18.60
EBITDA 41.46
Effective Tax Rate (%) 15.73
Particulars MAR 2022 (Values in Cr)
Revenue 232.64
Operating Expense 208.31
Net Profit 21.60
Net Profit Margin (%) 9.28
Earnings Per Share (EPS) 14.63
EBITDA 33.35
Effective Tax Rate (%) 12.58
Particulars MAR 2025 (Values in Cr)
Book Value / Share 734.33
ROE % 3.94
ROCE % 5.03
Total Debt to Total Equity 0.00
EBITDA Margin 19.25
Particulars MAR 2024 (Values in Cr)
Book Value / Share 668.06
ROE % 3.61
ROCE % 4.46
Total Debt to Total Equity 0.00
EBITDA Margin 17.54
Particulars MAR 2023 (Values in Cr)
Book Value / Share 623.50
ROE % 2.99
ROCE % 3.54
Total Debt to Total Equity 0.00
EBITDA Margin 14.67
Particulars MAR 2022 (Values in Cr)
Book Value / Share 621.07
ROE % 2.49
ROCE % 2.84
Total Debt to Total Equity 0.00
EBITDA Margin 14.34
Particulars MAR 2021 (Values in Cr)
Book Value / Share 553.19
ROE % 1.86
ROCE % 2.23
Total Debt to Total Equity 0.00
EBITDA Margin 14.41
Particulars MAR 2025 (Values in Cr)
Book Value / Share 735.73
ROE % 4.17
ROCE % 5.31
Total Debt to Total Equity 0.00
EBITDA Margin 20.20
Particulars MAR 2024 (Values in Cr)
Book Value / Share 669.47
ROE % 3.60
ROCE % 4.45
Total Debt to Total Equity 0.00
EBITDA Margin 17.54
Particulars MAR 2023 (Values in Cr)
Book Value / Share 624.91
ROE % 2.98
ROCE % 3.53
Total Debt to Total Equity 0.00
EBITDA Margin 14.67
Particulars MAR 2022 (Values in Cr)
Book Value / Share 622.48
ROE % 2.91
ROCE % 3.32
Total Debt to Total Equity 0.00
EBITDA Margin 16.15
Particulars MAR 2021 (Values in Cr)
Book Value / Share 554.59
ROE % 2.22
ROCE % 2.62
Total Debt to Total Equity 0.00
EBITDA Margin 16.18
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 3.57
Total Assets 1196.07
Total Liabilities 1196.07
Total Equity 1084.52
Share Outstanding 1
Price to Book Ratio 0.59
Return on Assets (%) 2.92
Return on Capital (%) 3.23
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 1.63
Total Assets 1081.00
Total Liabilities 1081.00
Total Equity 986.66
Share Outstanding 1
Price to Book Ratio 0.58
Return on Assets (%) 3.18
Return on Capital (%) 3.49
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1.52
Total Assets 999.95
Total Liabilities 999.95
Total Equity 920.84
Share Outstanding 1
Price to Book Ratio 0.39
Return on Assets (%) 2.74
Return on Capital (%) 2.98
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 2.81
Total Assets 1002.38
Total Liabilities 1002.38
Total Equity 917.26
Share Outstanding 1
Price to Book Ratio 0.43
Return on Assets (%) 2.15
Return on Capital (%) 2.35
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 2.19
Total Assets 922.15
Total Liabilities 922.15
Total Equity 816.99
Share Outstanding 1
Price to Book Ratio 0.48
Return on Assets (%) 2.13
Return on Capital (%) 2.41
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 3.57
Total Assets 1196.34
Total Liabilities 1196.34
Total Equity 1086.60
Share Outstanding 1
Price to Book Ratio 0.59
Return on Assets (%) 2.92
Return on Capital (%) 3.22
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 1.63
Total Assets 1081.26
Total Liabilities 1081.26
Total Equity 988.73
Share Outstanding 1
Price to Book Ratio 0.58
Return on Assets (%) 3.18
Return on Capital (%) 3.48
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1.52
Total Assets 1000.27
Total Liabilities 1000.27
Total Equity 922.92
Share Outstanding 1
Price to Book Ratio 0.39
Return on Assets (%) 2.74
Return on Capital (%) 2.97
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 2.81
Total Assets 1002.82
Total Liabilities 1002.82
Total Equity 919.34
Share Outstanding 1
Price to Book Ratio 0.43
Return on Assets (%) 2.15
Return on Capital (%) 2.35
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 2.19
Total Assets 922.68
Total Liabilities 922.68
Total Equity 819.07
Share Outstanding 1
Price to Book Ratio 0.48
Return on Assets (%) 2.27
Return on Capital (%) 2.56
Particulars MAR 2025 (Values in Cr)
Net Income 44.70
Cash from Operations 4.37
Cash from Investing -17.90
Cash from Financing -3.12
Net change in Cash 8.83
Free Cash Flow 25.06
Particulars MAR 2024 (Values in Cr)
Net Income 42.60
Cash from Operations 11.12
Cash from Investing -34.86
Cash from Financing -3.93
Net change in Cash 1.46
Free Cash Flow 47.57
Particulars MAR 2023 (Values in Cr)
Net Income 32.59
Cash from Operations -10.72
Cash from Investing -21.00
Cash from Financing -2.37
Net change in Cash -7.68
Free Cash Flow -3.65
Particulars MAR 2022 (Values in Cr)
Net Income 24.71
Cash from Operations -6.73
Cash from Investing -12.70
Cash from Financing -3.07
Net change in Cash 6.64
Free Cash Flow 0.38
Particulars MAR 2021 (Values in Cr)
Net Income 23.52
Cash from Operations 13.76
Cash from Investing 0.18
Cash from Financing -8.58
Net change in Cash 0.77
Free Cash Flow 17.69
Particulars MAR 2024 (Values in Cr)
Net Income 42.60
Cash from Operations 11.12
Cash from Investing -34.86
Cash from Financing -3.93
Net change in Cash 1.46
Free Cash Flow 47.57
Particulars MAR 2023 (Values in Cr)
Net Income 32.59
Cash from Operations -10.72
Cash from Investing -21.00
Cash from Financing -2.37
Net change in Cash -7.68
Free Cash Flow -3.65
Particulars MAR 2022 (Values in Cr)
Net Income 24.71
Cash from Operations -6.73
Cash from Investing -12.70
Cash from Financing -3.07
Net change in Cash 6.64
Free Cash Flow 0.38
Particulars MAR 2021 (Values in Cr)
Net Income 24.79
Cash from Operations 13.76
Cash from Investing 0.18
Cash from Financing -8.58
Net change in Cash 0.77
Free Cash Flow 17.68
Particulars MAR 2020 (Values in Cr)
Net Income 10.31
Cash from Operations 5.21
Cash from Investing 3.16
Cash from Financing -1.46
Net change in Cash 5.82
Free Cash Flow 12.06
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
BOMBAY BURMAH TRADING COR 1497.25 9.85 1.66 10446.60 1301.00 2156.10
EXIDE INDUSTRIES LTD. 349.50 34.50 2.13 29707.50 286.85 430.85
GABRIEL INDIA LTD 1098.00 60.63 12.35 15772.10 581.70 1386.45
FEDERAL-MOGUL GOETZE (IND 445.30 13.01 1.82 2477.20 326.20 622.00
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
AUTOMOBILE CORPORATION OF GOA 2037.60 17.15 4.02 1240.62 1410.50 2349.00
BHARAT GEARS LTD. 113.00 13.20 1.42 173.51 74.96 154.35
BOMBAY BURMAH TRADING COR 1497.25 172.49 48.06 10446.60 1301.00 2156.10
EXIDE INDUSTRIES LTD. 349.50 26.58 2.02 29707.50 286.85 430.85

HINDUSTAN COMPOSITES LTD. shareholding pattern

Holding
25.01%
74.97%
0.01%
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News

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HINDUSTAN COMPOSITES LTD. Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
420.30 -3.24 redarrow
red-green-graph indicator
16 Bearish
0 Bullish
  • 5 Days 445.40
  • 26 Days 445.60
  • 10 Days 450.90
  • 50 Days 435.50
  • 12 Days 451.50
  • 100 Days 432.10
  • 20 Days 449.00
  • 200 Days 441.10
447.12 PIVOT
First Support 435.33 First Resistance 454.23 Second Support 428.22 Second Resistance 466.02 Third Support 416.43 Third Resistance 473.13
RSI 48.82 ADX 59.57 MACD 8.14 Williams % R -96.56 Commodity Channel Index (CCI) -127.35
Date 2026-05-13 Week 3944.00 Same Day 5112.00 Month 9735.00
1 Year 1.18 3 Year 1.13
Over 1 Month
7.95% down
Over 1 Year
0.47% down
Over 3 Months
4.59% down
Over 3 Years
14.35% down
Over 6 Months
-3.05% down
Over 5 Years
8.52% down

HINDUSTAN COMPOSITES LTD. Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
18 Sep 2025 2.0 Final 18 Sep 2025 Equity shares
20 Sep 2024 2.0 Final 21 Sep 2024 Equity shares
22 Sep 2023 2.0 Final 23 Sep 2023 Equity shares
21 Sep 2022 2.0 Final 23 Sep 2022 Equity shares
21 Sep 2021 2.0 Final 23 Sep 2021 Equity shares
21 Sep 2020 2.0 Final 23 Sep 2020 Equity shares
21 Aug 2019 2.0 Final 23 Aug 2019 Equity shares
21 Aug 2018 0.5 Final 24 Aug 2018 Equity shares
04 Sep 2017 0.5 Final 06 Sep 2017 Equity shares
31 Aug 2016 1.0 Final 02 Sep 2016 Equity shares
10 Sep 2015 1.0 Final 12 Sep 2015 Equity shares
26 Aug 2014 2.0 Final 28 Aug 2014 Equity shares
22 Aug 2013 1.0 Final 26 Aug 2013 Equity shares
02 Aug 2012 2.0 Final 06 Aug 2012 Equity shares
03 Aug 2011 2.0 Final 05 Aug 2011 Equity shares
01 Sep 2010 7.5 Special 03 Sep 2010 Equity shares
01 Sep 2010 2.5 Final 03 Sep 2010 Equity shares
23 Aug 2005 0.0 Final 25 Aug 2005 Equity shares
Ex-Date Ex-Bonus Ratio
26 May 2017 25 May 2017 1:2
Ex-Date Old FV NEW FV Record Date
25 May 2017 10.0 5.0 26 May 2017
Dividend date Dividend amount Dividend type Record date Instrument type
18 Sep 2025 2.0 Final 18 Sep 2025 Equity shares
20 Sep 2024 2.0 Final 21 Sep 2024 Equity shares
22 Sep 2023 2.0 Final 23 Sep 2023 Equity shares
21 Sep 2022 2.0 Final 23 Sep 2022 Equity shares
21 Sep 2021 2.0 Final 23 Sep 2021 Equity shares
21 Sep 2020 2.0 Final 23 Sep 2020 Equity shares
21 Aug 2019 2.0 Final 23 Aug 2019 Equity shares
21 Aug 2018 0.5 Final 24 Aug 2018 Equity shares
04 Sep 2017 0.5 Final 06 Sep 2017 Equity shares
31 Aug 2016 1.0 Final 02 Sep 2016 Equity shares
10 Sep 2015 1.0 Final 12 Sep 2015 Equity shares
26 Aug 2014 2.0 Final 28 Aug 2014 Equity shares
22 Aug 2013 1.0 Final 26 Aug 2013 Equity shares
02 Aug 2012 2.0 Final 06 Aug 2012 Equity shares
03 Aug 2011 2.0 Final 05 Aug 2011 Equity shares
01 Sep 2010 7.5 Special 03 Sep 2010 Equity shares
01 Sep 2010 2.5 Final 03 Sep 2010 Equity shares
23 Aug 2005 0.0 Final 25 Aug 2005 Equity shares
Ex-Date Ex-Bonus Ratio
26 May 2017 25 May 2017 1:2
Ex-Date Old FV NEW FV Record Date
25 May 2017 10.0 5.0 26 May 2017

Top Gainers

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HINDUSTAN COMPOSITES LTD. Share Price

Hindustan Composites Limited., previously known as Hindustan Ferrodo Limited, is an associate of AM & FM, UK, which acquired the undertaking of Asbestos, Magnesia & Friction Materials, to manufacture friction materials and asbestos industrial products. The Company is having its works at Mumbai, Paithan, Bhandara and Jalna. Presently, it is engaged in manufacturing and marketing of fibre based friction materials, consisting of Brake Liners, Roll Lining, Brake Block, Clutch Facing etc. and investments.

Friction Materials include Brake Liners, Roll Linings, Clutch Facings, Disc Brake Pads used in Heavy and Light Trucks, Passenger Cars, 2 / 3 wheelers, off-road-vehicles, Construction & Mining equipment. Composition Brake Blocks are also used by the Railways. Sealing materials include Jointings, Textile and Insulation Board used in automobiles and other industries.

The company's specialisation in friction materials covers automobile brake linings, clutch facings and disc brake pads, railway brake blocks and woven and moulded industrial friction materials. The industrial products consist of asbestos textile, jointing, limpet and composite insulation millboard.

The company caters to both OEMs and the replacement market and is a major supplier to the state transport companies, which are large buyers of replacement products. In 1993-94, the company sold a major part of the plant and machinery of the clutch unit at Jalna. It has also sold the loss-making clutch unit at Wardha to Amalgamation Repco.

In 1995-96, the company has received ISO-9002 quality system certification. In 1998-99, it increased the installed capacity of clutch facings to 67,60,000 nos. During 1999-2000, ISO : 9002 Certification awarded to Paithan unit has been successfully renewed by the DNV of the Netherlands for manufacture and marketing of Friction Materials. During 1999-2000, the company has entered into a contract with Mahanagar Gas for supply of Natural Gas as fuel to the boilers as a substitute for costly furnace oil.

The company was awarded the Certificate as Export House,by DGFT-Ministry of Commerce & Industry,Government of India.

The Company has decided to set up a new facility for Sealing and Textile Products at Jalna, where a factory building and infrastructure were already available. The plant is expected to be operational soon.

The Company's Joint Venture 'Compo ADVICS India Pvt. Ltd.' started commercial production of disc brake pads for Passenger Vehicles effective from September 22, 2014 at Bhalgaon, Aurangabad.

The Company became a green Company with elimination of Asbestos based products at its plants in 2024. The Company has started a new business line of trading in metals and commodities' w.e.f. 1st April, 2025.

Parent organization Modi Raghu
NSE symbol HINDCOMPOS
Founded 1964
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Board Of Directors

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P K Choudhary Executive Director & MD
Vinay Sarin Non-Exec & Non-Independent Dir
Lalit Bararia Independent Non Exe. Director
Preeti Agrawal Independent Non Exe. Director
Rajan Dalal Independent Non Exe. Director
Snehal Natvarlal Muzoomdar Independent Non Exe. Director
Arvind Purohit Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Hindustan Composites Ltd?

Answer Field

Hindustan Composites Ltd share price is for NSE ₹ 419.85 & for BSE ₹ 418.45 as on May 15 2026 03:29 PM.

What is the Market Cap of Hindustan Composites Ltd Share?

Answer Field

The market cap of Hindustan Composites Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on May 15 2026 03:29 PM.

What is the 52 Week High and Low of Hindustan Composites Ltd?

Answer Field

The 52 Week High and Low of Hindustan Composites Ltd for NSE is ₹ 550.00 and ₹ 347.10 and for BSE is ₹ 548.95 and ₹ 346.25.

What is 1 year return for Hindustan Composites Ltd?

Answer Field

The 1 year returns on the stock has been -2.33%.

What is the P/E Ratio of Hindustan Composites Ltd Share?

Answer Field

As on May 15 2026 03:29 PM the price-to-earnings (PE) ratio for Hindustan Composites Ltd share is 20.46.

What is the PB ratio of Hindustan Composites Ltd Share?

Answer Field

As on May 15 2026 03:29 PM, the price-to-book (PB) ratio for Hindustan Composites Ltd share is 776.90.

How to Buy Hindustan Composites Ltd Share?

Answer Field

You can trade in Hindustan Composites Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Hindustan Composites Ltd Share on Bajaj Broking App?

Answer Field

To buy Hindustan Composites Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Hindustan Composites Ltd”

• Click on the BUY icon

• Place a buy order specifying the desired quantity of shares.

• Click BUY again to complete the purchase

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No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.

Please Note:

  1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020

  2. Update your mobile number & email ID with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

  3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

  4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 and BSE vide notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.

  5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language: BSE | NSE

If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email us or call on the toll free number.

Advisory for Investors : NSE | BSE

We also do pro-account trading in Equity & Derivatives Segment.

Filling complaints on SCORES - Easy & Quick

A.  Register on SCORES portal B. Mandatory details for filling complaints on SCORES (i) Name, PAN, Address, Mobile Number, E-mail ID C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances.

SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043

Compliance officer:

Mr. Boudhayan Ghosh 
TEL: 020-48574486
Email for any investor grievances or write to us for DP related matters.

DISCLAIMER

STANDARD DISCLAIMER

Investments in the securities market are subject to market risk, read all related documents carefully before investing.

Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

Website: Bajaj Broking

RESEARCH DISCLAIMER

Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

Details of Compliance Officer: 

Mr. Boudhayan Ghosh (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486 

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

DISCLOSURES

Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

DISCLAIMER

This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.  

The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

THIRD PARTY PRODUCT DISCLAIMER

Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.