BSE: 0 | NSE: HVAX | Engineering Consultancy |
Past 10 year's financial track record analysis by Moneyworks4me indicates that HVAX Technologies Ltd is a average quality company.
The key valuation ratios of HVAX Technologies Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of HVAX Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 39.1% | 33.6% | 27.4% | 31.8% | - |
| Value Creation Index ⓘ | 1.8 | 1.4 | 1.0 | 1.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||
| Sales ⓘ | 60.8 | 68.3 | 95.9 | 106 | 106 |
| Sales YoY Gr. | - | 12.4% | 40.5% | 10.6% | - |
| Adj EPS ⓘ | 16.7 | 22 | 31.2 | 42.3 | 33.8 |
| YoY Gr. | - | 32% | 41.8% | 35.6% | - |
| BVPS (₹) ⓘ | 42.3 | 64.9 | 93 | 149.6 | 235.8 |
| Adj Net Profit ⓘ | 3.1 | 4.1 | 5.8 | 8.7 | 9 |
| Cash Flow from Ops. ⓘ | 6.3 | -0.8 | -3.6 | -12.2 | - |
| Debt/CF from Ops. ⓘ | 1.1 | -12 | -4.7 | -2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 20.4% | 10.6% | ||||
| Adj EPS ⓘ | NA | NA | 36.4% | 35.6% | ||||
| BVPSⓘ | NA | NA | 52.4% | 60.9% | ||||
| Share Price | - | - | - | - | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 39.5 | 41.1 | 39.6 | 36.2 | 17.6 |
| Op. Profit Mgn % ⓘ | 8.9 | 10.1 | 9.8 | 13 | NAN |
| Net Profit Mgn % ⓘ | 5.1 | 6 | 6 | 8.2 | 8.9 |
| Debt to Equity ⓘ | 0.9 | 0.8 | 1 | 0.8 | - |
| Working Cap Days ⓘ | 0 | 165 | 192 | 191 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 100 | 129 | 135 | 0 |
Sales growth is growing at healthy rate in last 3 years 20.41%
Net Profit is growing at healthy rate in last 3 years 36.39%
Debt to equity has declined versus last 3 years average to 0.80
Return on Equity has declined versus last 3 years average to 17.50%
Sales growth is not so good in last 4 quarters at 0.00%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 33.8 | - |
| TTM Sales (₹ Cr.) | 106 | - |
| BVPS (₹.) ⓘ | 235.8 | - |
| Reserves (₹ Cr.) ⓘ | 63 | - |
| P/BV ⓘ | 2.29 | - |
| PE ⓘ | 15.99 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 0.00 / 0.00 |
| All Time Low / High (₹) | - / - |
| Market Cap (₹ Cr.) | 150 |
| Equity (₹ Cr.) | 2.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 35.1 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Sales | 61 | 68 | 96 | 106 |
| Operating Expenses ⓘ | 55 | 61 | 87 | 92 |
| Manufacturing Costs | 0 | 0 | 0 | 0 |
| Material Costs | 43 | 42 | 64 | 68 |
| Employee Cost | 5 | 6 | 7 | 8 |
| Other Costs ⓘ | 7 | 13 | 16 | 16 |
| Operating Profit ⓘ | 5 | 7 | 9 | 14 |
| Operating Profit Margin (%) | 8.9% | 10.1% | 8.9% | 13.0% |
| Other Income ⓘ | 1 | 1 | 0 | 1 |
| Interest ⓘ | 1 | 1 | 1 | 2 |
| Depreciation ⓘ | 1 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 5 | 6 | 7 | 13 |
| Tax ⓘ | 2 | 1 | 2 | 3 |
| Profit After Tax | 4 | 4 | 5 | 9 |
| PAT Margin (%) | 6.1% | 6.1% | 5.4% | 8.9% |
| Adjusted EPS (₹) | 20.1 | 22.6 | 28.1 | 45.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 8 | 12 | 17 | 31 | ||||||
| Share Capital ⓘ | 1 | 1 | 1 | 1 | ||||||
| Reserves ⓘ | 7 | 11 | 17 | 30 | ||||||
| Minority Interest | 0 | 0 | 0 | 0 | ||||||
| Debt | 5 | 9 | 16 | 24 | ||||||
| Long Term Debt | 5 | 3 | 2 | 3 | ||||||
| Short Term Debt | 0 | 6 | 14 | 22 | ||||||
| Trade Payables | 9 | 8 | 9 | 6 | ||||||
| Others Liabilities ⓘ | 15 | 24 | 36 | 3 | ||||||
| Total Liabilities ⓘ | 37 | 54 | 78 | 64 | ||||||
Fixed Assets | ||||||||||
| Gross Block | 12 | 10 | 10 | 12 | ||||||
| Accumulated Depreciation | 2 | 2 | 3 | 3 | ||||||
| Net Fixed Assetsⓘ | 10 | 8 | 7 | 9 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | ||||||
| Investmentsⓘ | 1 | 0 | 1 | 0 | ||||||
| Inventories | 3 | 15 | 20 | 20 | ||||||
| Trade Receivables | 16 | 20 | 32 | 25 | ||||||
| Cash Equivalents | 3 | 6 | 9 | 5 | ||||||
| Others Assetsⓘ | 4 | 4 | 9 | 4 | ||||||
| Total Assets ⓘ | 37 | 54 | 78 | 64 | ||||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 6 | -1 | -4 | -12 |
| PBT ⓘ | 5 | 6 | 7 | 13 |
| Adjustment ⓘ | -1 | 2 | 2 | 2 |
| Changes in Working Capital ⓘ | 3 | -7 | -10 | -23 |
| Tax Paid ⓘ | -1 | -1 | -2 | -3 |
| Cash Flow From Investing Activity ⓘ | -4 | 2 | 0 | -2 |
| Capex | -4 | 1 | 0 | -2 |
| Net Investments | 0 | 0 | 0 | 1 |
| Others ⓘ | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -3 | 2 | 6 | 10 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 4 |
| Net Proceeds from Borrowing ⓘ | -2 | -2 | -1 | 1 |
| Interest Paid ⓘ | -1 | -1 | -1 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 |
| Others ⓘ | -1 | 5 | 8 | 7 |
| Net Cash Flow ⓘ | -1 | 3 | 2 | -4 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 47.56 | 42.18 | 35.63 | 39.29 | ||||||
| ROCE (%) | 39.14 | 33.62 | 27.36 | 31.79 | ||||||
| Asset Turnover Ratio | 1.65 | 1.5 | 1.45 | 1.5 | ||||||
| PAT to CFO Conversion(x) | 1.5 | -0.25 | -0.8 | -1.33 | Working Capital Days | |||||
| Receivable Days | 98 | 96 | 99 | 99 | ||||||
| Inventory Days | 17 | 47 | 67 | 69 | ||||||
| Payable Days | 77 | 76 | 51 | 42 | ||||||
HVAX Technologies was originally incorporated as ‘HVAX Technologies Private Limited’ as a private limited company under the Companies Act, 1956 vide certificate of incorporation dated November 26, 2010 issued by Deputy Registrar of Companies, Maharashtra, Mumbai. Further, the company was converted from a private limited company to public limited company pursuant to special resolution passed in the Extra-Ordinary General Meeting of the company dated December 11, 2023 and consequently, the name of the company was changed from ‘HVAX Technologies Private Limited’ to ‘HVAX Technologies Limited’ and a fresh certificate of incorporation dated January 8, 2024 was issued to the Company by the Registrar of Companies, Mumbai.
Since its incorporation in 2010, the company has evolved from its origins of acting as a HVAC project contractor and has developed expertise in undertaking turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms; design, engineering and consultancy services for pharma and healthcare companies; and sale and supply of equipment. While its primary customers are pharmaceutical companies, its customers also include chemical companies, hospitals, healthcare companies, and FMCG companies.
The company is engaged in the business of turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms; design, engineering and consultancy services for pharma and healthcare companies. It sells and supplies the equipment as a part of turnkey projects. Hence, the end users for the same are its clients i.e. pharmaceutical companies, chemical companies, hospitals, healthcare companies, and FMCG companies.
As a turnkey solution company, it is a “design-to-delivery” controlled environment infrastructure and cleanroom solutions provider with the ability to provide end to end solution encompassing designing, engineering, procurement, installation, testing, commissioning, management and operational support for a wide range of customers primarily in the pharmaceutical, healthcare, hospital and biotech sector across India and internationally. With a skilled team, strong project execution capabilities, and a client-centric focus, it is committed for delivering high-quality, safe, and innovative solutions that meet its clients’ specific needs. The company engaged with its customers directly and also indirectly as a sub-contractor to the main contractor where it is assigned specific work scope. Further, it also engaged third- party contractors for undertaking civil, mechanical and structural works. Its expertise covers the entire project lifecycle, ensuring timely delivery and successful outcomes for even the most complex projects.
Business area of the company
The company is engaged in the business of turnkey projects on engineering, procurement and execution of controlled environment infrastructure and cleanrooms; design, engineering and consultancy services for pharma and healthcare companies.
History and milestones
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