---
title: "HG Industries Ltd(Merged) (HIMGRANITE) — Share Price, Financials & Analysis"
symbol: "HIMGRANITE"
company: "HG Industries Ltd(Merged)"
canonical: "https://tapetide.com/stocks/HIMGRANITE"
sector: "Commodities"
industry: "Other Construction Materials"
generated_at: "2026-09-13T20:00:02.352Z"
---

# HG Industries Ltd(Merged) (HIMGRANITE)

Canonical page: https://tapetide.com/stocks/HIMGRANITE

## Company

- **Sector:** Commodities
- **Industry:** Other Construction Materials
- **Macro Sector:** Commodities
- **Stock Type:** DELISTED
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** hgl.co.in

## About

Incorporated in 1987, HG Industries Ltd does business of renting its factory premises

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -32.9% over last 3 years.

## Growth Rates

| Metric | 3Y |
| --- | --- |
| net income growth | 22% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.15 | 0.15 | 0.15 | 0.15 | 0.05 | 0 | 0 | 0 | 0 | 0 | 0.74 | 11.66 |
| Expenses | 0.13 | 0.19 | 0.15 | 0.3 | 0.33 | 0.45 | 0.18 | 0.27 | 0.25 | 0.34 | 2.15 | 17.48 |
| Operating Profit | 0.02 | -0.04 | 0 | -0.15 | -0.28 | -0.45 | -0.18 | -0.27 | -0.25 | -0.34 | -1.41 | -5.82 |
| OPM % | 13.33 | -26.67 | 0 | -100 | -560 | — | — | — | — | — | -190.54 | -49.91 |
| Other Income | 0 | 0.04 | 0.19 | 0 | 0.01 | 0.84 | 0 | 0.01 | 0 | 0.15 | 0 | 0.02 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.78 | 3.71 |
| Depreciation | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | -0.02 | 0 | 0 | 0.58 | 1.61 |
| Profit before tax | -0.01 | -0.03 | 0.16 | -0.18 | -0.3 | 0.37 | -0.2 | -0.24 | -0.25 | -0.19 | -2.77 | -11.12 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 8.11 | 0 | 12.5 | -20 | -57.89 | -19.86 | -25.63 |
| Net Profit | -0.01 | -0.02 | 0.17 | -0.18 | -0.3 | 0.34 | -0.2 | -0.27 | -0.2 | -0.08 | -2.22 | -8.27 |
| EPS in Rs | -0.02 | -0.04 | 0.37 | -0.39 | -0.65 | 0.74 | -0.43 | -0.59 | -0.43 | -0.17 | -4.83 | -17.98 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 0 | 12 |
| Expenses | 1 | 1 | 2 | 1 | 1 | 4 | 1 | 1 | 1 | 20 |
| Operating Profit | -1 | -1 | -2 | -1 | 0 | -4 | 0 | -1 | -1 | -8 |
| OPM % | -3050 | -5800 | -15200 | — | -13 | -660 | 8 | -244 | — | -63 |
| Other Income | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Profit before tax | 0 | 0 | -1 | 0 | 0 | -4 | 0 | 0 | -1 | -14 |
| Tax % | 500 | 0 | 0 | 0 | — | 0 | 0 | 60 | -15 | — |
| Net Profit | 0 | 0 | -1 | 0 | 0 | -4 | 0 | 0 | -1 | -11 |
| EPS in Rs | -0.38 | -0.07 | -2.2 | -0.8 | 0 | -8.52 | -0.02 | 0.07 | -1.63 | -23.41 |
| Dividend Payout % | 0 | 0 | 0 | 0 | — | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Reserves | 6 | 5 | 4 | 3 | 3 | -1 | -1 | -1 | -1 | -12 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110 | 174 |
| Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 19 | 29 |
| Total Liabilities | 9 | 7 | 6 | 6 | 6 | 2 | 2 | 2 | 130 | 194 |
| Fixed Assets | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 118 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 101 | 20 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 7 | 5 | 4 | 4 | 4 | 1 | 1 | 0 | 27 | 56 |
| Total Assets | 9 | 7 | 6 | 6 | 6 | 2 | 2 | 2 | 130 | 194 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1 | -1 | 1 | 2 | -3 | 0 | 0 | 0 | -1 | -13 |
| Cash from Investing Activity | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | -96 |
| Cash from Financing Activity | 0 | 0 | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 110 |
| Net Cash Flow | 0 | 0 | 0 | 2 | -2 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | -1 | -1 | 1 | 2 | -3 | 0 | 0 | 0 | 0 | -110 |
| CFO/OP | 132 | 44 | -157 | -100 | 320 | 343 | -3 | 20 | 70 | 1276 |

### Ratios

| Item | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 36135 | 17885 | 36500 | 0 | — | 0 | 0 | 0 | 0 | — |
| Inventory Days | 456 | 548 | 182 | — | — | — | — | — | — | — |
| Days Payable | 1369 | 1460 | 1460 | — | — | — | — | — | — | — |
| Cash Conversion Cycle | 35222 | 16972 | 35222 | 0 | — | 0 | 0 | 0 | 0 | — |
| Working Capital Days | 231045 | 110048 | 174835 | 63145 | — | 2601 | 19 | 43 | 41 | — |
| ROCE % | -1 | 1 | 2 | -15 | -5 | 0 | -106 | -2 | -46 | -2 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.11% | 74.11% | 74.11% | 74.78% | 74.91% | 74.91% | 74.91% | 74.91% |
| Public | 25.89% | 25.89% | 25.89% | 25.22% | 25.09% | 25.09% | 25.1% | 25.09% |
| No. of Shareholders | 1139 | 1131 | 1136 | 1139 | 1177 | 1381 | 1274 | 1327 |

### Quarterly

| Category | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% | 74.91% |
| Public | 25.09% | 25.09% | 25.09% | 25.09% | 25.09% | 25.09% | 25.09% | 25.1% | 25.1% | 25.1% | 25.1% | 25.09% |
| No. of Shareholders | 1153 | 1177 | 1147 | 1190 | 1425 | 1381 | 1348 | 1350 | 1304 | 1274 | 1256 | 1327 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 4 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 36.78 | Sell |
| EMA (10) | 36.36 | Sell |
| SMA (20) | 37.43 | Sell |
| EMA (20) | 37.52 | Sell |
| SMA (50) | 40.56 | Sell |
| EMA (50) | 39.55 | Sell |
| SMA (100) | 41.12 | Sell |
| EMA (100) | 41.62 | Sell |
| SMA (200) | 44.84 | Sell |
| EMA (200) | 46.69 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 39.4 | Neutral |
| MACD (12,26,9) | -1.43 | Sell |
| Stochastic (14,3,3) | 18.75 | Buy |
| ADX (14) | 12.83 | Neutral |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 2.69 | High Volatility |
| ROC (12) | -21.22 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 55.18 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/76782513723.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/72118513723.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/66841513723.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230314.pdf) |
| from bse | [Annual Report 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/513723/5137230313.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:00:02.352Z.