Hind Rectifiers

Hind Rectifiers Limited issued a corrigendum to its postal ballot notice dated July 29, 2025, providing clarifications on the preferential issue of 2,00,000 equity warrants worth ₹27,36,46,000 to promoter group entity Elventive Tech Private Limited. The corrigendum clarifies valuation methodology, lock-in periods, and allottee status details. Key changes include confirmation that equity warrants will have a 1-year lock-in period and resultant equity shares will have an 18-month lock-in period. The issue price is set at ₹1,368.23 per warrant, with proceeds intended for capital expenditure including machinery procurement and potential land/building purchases for manufacturing units. E-voting period runs from July 30 to August 28, 2025. Shareholders who already voted can modify their votes by emailing the scrutinizer before the deadline.

Hind Rectifiers Limited has communicated to shareholders about tax deduction at source (TDS) on the final dividend for financial year 2024-25. The company's 67th Annual General Meeting held on July 29, 2025, approved a dividend of Rs. 2.00 per equity share of face value Rs. 2 each. The dividend was payable to shareholders whose names appeared in the register as of July 22, 2025. No tax will be deducted for resident individual shareholders if the dividend paid during FY 2025-26 does not exceed Rs. 10,000. The withholding tax rate varies based on residential status and shareholder category. Higher withholding tax rates apply if PAN is not updated or available. The dividend has been directly credited to shareholders' bank accounts on August 4, 2025, through NACH mode. The company will file TDS returns electronically within the prescribed timeframe, and Form 16A can be downloaded from TRACES as valid TDS certificates.

Hind Rectifiers Limited reported strong quarterly results with revenue from operations growing 58.5% year-on-year to INR 214.8 crores. EBITDA increased 66.9% to INR 24.2 crores with margins improving to 11.3% from 10.7%. PAT grew 85.5% to INR 12.8 crores with margins expanding to 5.9%. The company achieved an all-time high order book of over INR 1,022 crores, including two major orders worth INR 127 crores and INR 101 crores from Indian Railways for locomotive products. The company successfully commissioned its indigenously developed propulsion system, which has been assigned to Western Railways for field trials. Hind Rectifiers received orders for next-generation propulsion systems designed for passenger locomotives. The Board approved a preferential issue of warrants worth INR 27.4 crores to the promoter group. The company operates in three verticals: traction transformers (40-45% market share with Indian Railways), power electronics division, and electromechanical systems. Indian Railways contributes around 90% of revenue, with the company supplying directly and through OEMs like Alstom, Siemens, and BHEL. Management expects to target 10% market share in propulsion systems, with each system valued at approximately INR 1.8 crores. The company plans INR 50 crores capex for backward integration, funded two-thirds by debt and one-third by internal accruals.