United Heat Transfer logo

United Heat Transfer

UHTL NSE
₹220.45 4.30 (1.99%)
Market Cap
₹419 Cr

Key Fundamentals

SMEOther Industrial ProductsIndustrial Products
Market Cap
₹419 Cr
EBITDA
₹11.50 Cr
Return on Equity
7.88%
Debt to Equity
0.3
Book Value
₹33.43
EPS (TTM)
—
52W High
₹220.45
52W Low
₹44.00

Price-based figures as of 13 Oct 2026, 14:14 IST · TTM

Peer Comparison

Industrials › Industrial Products › Other Industrial Products

PTC Industries
₹25,385.00303.0038,059 Cr25.250.00%6.74%8.00%733 Cr125 Cr
INOX India
₹2,080.0074.0718,912 Cr16.890.10%23.08%30.77%1,667 Cr255 Cr
KRN Heat Exchanger and Refrigeration
₹1,382.2090.109,048 Cr9.790.00%13.32%18.02%747 Cr97 Cr
ESAB India
₹5,462.0037.898,408 Cr19.581.39%48.14%60.82%1,615 Cr222 Cr
Harsha Engineers
₹443.0026.074,033 Cr2.880.34%11.07%14.21%1,752 Cr154 Cr
Kirloskar Industries
₹3,490.0013.103,668 Cr0.590.37%6.03%6.57%7,077 Cr355 Cr
Ador Welding
₹1,519.0023.272,643 Cr4.771.55%14.79%20.26%1,221 Cr114 Cr
Diffusion Engineers
₹421.8528.831,579 Cr3.900.35%12.43%16.32%456 Cr55 Cr
Sahasra Electronic Solutions
₹466.00108.371,165 Cr4.950.21%4.79%6.14%70 Cr11 Cr
Tankup Engineers
₹1,751.30—927 Cr31.240.00%16.09%25.79%——
United Heat Transfer (this company)
₹220.45—419 Cr6.590.00%7.88%13.70%——
Median 11 companies₹1,519.0037.893,668 Cr6.590.21%12.43%16.32%1,221 Cr125 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100. How it works →

As of 2026-10-12
v2.0.0
50 Average
Overall score
Data confidence 84/100
surveillance:ASM2

Category scores

Quality Strong 66
Returns, margins, earnings quality 22%
Valuation Poor 36
Cheap vs sector & own history 24%
Growth Average 50
Sales & profit trajectory 9%
Financial Health Strong 76
Solvency, leverage, coverage 9%
Momentum Strong 99
Trend strength, vol-adjusted 12%
Ownership Average 46
FII/DII/promoter flows 24%
Capped: a governance trigger overrides the fundamentals here (surveillance:ASM2 ≤ 50).

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 27.3% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 6.47 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 11.6% over last 3 years.

Technical Indicators

Oscillators

BearishNeutralBullish

Bearish

Bearish
5
Neutral
2
Bullish
2

Overall

BearishNeutralBullish

Bullish

Bearish
5
Neutral
2
Bullish
12

Moving Averages

BearishNeutralBullish

Bullish

Bearish
0
Neutral
0
Bullish
10

Growth Rate

Revenue Growth
8.84% higher than 3Y

change over 1 year

Net Income Growth
-5.66% lower than 3Y

change over 1 year

Cash Flow Change
218%

change over 1 year

EBITDA Margin Change
-15.48%

change over 1 year Operating margin 15.36% · Mar 2026

Quarterly Results

Particulars Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026
Sales
39.93
28.41
38.41
21.44
51.44
Expenses
35.92
21.93
33.5
18.87
43.54
Operating Profit
4.01
6.48
4.91
2.57
7.9
OPM %
10.04%
22.81%
12.78%
11.99%
15.36%
Other Income
3.78
0.56
0.51
0.85
0.14
Interest
2.13
2
1.37
1.28
1.33
Depreciation
0.92
0.98
0.99
1.01
1.05
PBT
4.74
4.06
3.06
1.13
5.66
Tax %
21.31%
24.88%
26.47%
25.66%
26.33%
Net Profit
3.73
3.06
2.24
0.84
4.17
EPS (₹)
—
2.2
1.18
0.44
2.19
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
36.82
33.1
47.55
69.6
60.03
66.52
72.71
Expenses
32.75
29.03
41.38
61.82
50.04
55.13
62.25
Operating Profit
4.07
4.07
6.17
7.78
9.99
11.39
10.46
OPM %
11.05%
12.3%
12.98%
11.18%
16.64%
17.12%
14.39%
Other Income
0.16
0.18
0.15
0.44
3.9
1.07
1
Interest
1.12
1.36
2.96
3.92
4.2
3.37
2.61
Depreciation
0.84
0.89
1.21
1.48
1.83
1.97
2.06
PBT
2.27
2
2.15
2.82
7.86
7.12
6.79
Tax %
27.75%
25%
28.84%
24.82%
20.61%
25.56%
26.22%
Net Profit
1.64
1.5
1.53
2.12
6.24
5.3
5.01
EPS (₹)
—
—
—
—
—
2.79
2.64
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
4.25
4.25
4.25
4.25
12.75
19
19
Reserves
4.74
6.25
7.77
9.89
7.69
39.52
44.53
Borrowings
9.57
31.28
37.62
32.96
36.92
17.83
18.9
Other Liabilities
4.85
7.7
12.99
17.71
13.16
11.58
11.63
Total Liabilities
23.41
49.48
62.63
64.81
70.52
87.93
94.06
Fixed Assets
0
0
23.76
24.55
34.61
34.95
35.9
CWIP
0
15.2
10.63
11.24
0.98
0.98
4.3
Investments
0
0
1.71
1.59
1.72
1.99
2.66
Other Assets
23.41
34.28
26.53
27.43
33.21
50.01
51.2
Total Assets
23.41
49.48
62.63
64.81
70.52
87.93
94.06
Figures in ₹ Crores

Cash Flow

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
3.25
0
2.41
7.64
3.27
-6.83
8.08
Investing
-0.36
-21.67
-5.13
-2.76
-1.75
-2.58
-7.11
Financing
-2.17
21.65
3.64
-5.2
-2.1
9.5
-1.28
Net Cash Flow
0.72
-0.02
0.92
-0.32
-0.57
0.09
-0.31
Free Cash Flow
3.1
-21.44
-2.01
4.76
1.63
-9.13
1.75
CFO/OP
95
13
49
107
33
-60
77
Figures in ₹ Crores

Ratios

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
62.95
76.09
60.33
38.34
80.02
102
84.13
Inventory Days
87.02
142
213
135
152
258
263
Days Payable
45.39
92.76
147
105
68.17
55.45
62.98
Cash Conversion Cycle
105
125
126
68.39
164
304
284
Working Capital Days
83.37
111
19.27
7.76
11.55
155
128
ROCE %
—
11.14%
11.53%
13.95%
16.16%
15.69%
11.84%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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59 extracted metrics + investor summaries across FY20–FY26.

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Shareholding Pattern

FIIs0.26%Promot.67.74%DIIs0.89%Others9.87%Public21.23%As ofMar 2026

Documents

Frequently Asked Questions about United Heat Transfer

What does United Heat Transfer Ltd do?
Incorporated in January 1995, United Heat Transfers Limited manufactures essential equipment such as heat exchangers, pressure vessels, and process flow skids.[1]
Where is United Heat Transfer Ltd (UHTL) listed?
United Heat Transfer Ltd trades as UHTL on the NSE.
Which sector does United Heat Transfer Ltd belong to?
United Heat Transfer Ltd is classified under the Industrial Products sector, in the Other Industrial Products industry.
What is the market capitalisation of United Heat Transfer Ltd?
United Heat Transfer Ltd has a market capitalisation of ₹418.94 Cr as of 13 Oct 2026, which places it in the Small Cap band.
What is the 52-week high and low of United Heat Transfer Ltd?
Over the last 52 weeks United Heat Transfer Ltd has traded between ₹44 and ₹220.45 as of 13 Oct 2026.
What is the Return on Equity (ROE) of United Heat Transfer Ltd?
United Heat Transfer Ltd reported a return on equity of 7.88%. Its debt-to-equity ratio is 0.30.

Company Information

Incorporated in January 1995, United Heat Transfers Limited manufactures essential equipment such as heat exchangers, pressure vessels, and process flow skids.[1]

Website unitedheat.net
Listed 2024-10-29
Face Value ₹ 10
Shares Outstanding 1,90,04,000

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