Manufactures welding electrodes and consumables used in metal-joining and fabrication work. All reported segment revenue comes from this single product line — Welding Electrodes and Consumable — while a separate Metallurgical Cored Wire line recorded zero revenue. In FY26, total revenue was Rs 252.71 crore, up 20.8% year-on-year, and net profit rose 62.6% to Rs 8.38 crore. Materials dominate the cost structure at 73.1% of revenue, followed by other operating expenses at 10.9% and employee costs at 9.8%. Capital expenditure was Rs 11.34 crore, or 4.5% of revenue, in FY26. The company operates through one wholly-owned subsidiary, V & H Fabricators Pvt. Ltd., which is not classified as a material subsidiary. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Welding Electrodes and Consumable (100%). Single-product, materials-heavy industrial manufacturer.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 91 | 139 | 158 | 209 | 253 |
| EBITDA (ex other income) | 5 | 9 | 10 | 15 | 18 |
| margin % | 5.3 | 6.7 | 6.0 | 6.9 | 7.2 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 2.99 | 5.56 | 3.42 | 6.40 | 9.95 |
| ROE % · ROCE % | 7.6 · 9.6 | 11.2 · 16.2 | 6.5 · 13.3 | 11.0 · 17.3 | 10.8 · 16.4 |
| Debt / equity (x) | 0.64 | 0.56 | 1.06 | 1.11 | 0.59 |
| Cash from operations | 1 | 5 | (0) | (2) | 22 |
| Capex | (4) | (6) | (9) | (14) | (11) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 50 | 55 | 59 | 53 | 66 | 62 | 72 | 66 |
| Profit before tax | 1 | 2 | 3 | 2 | 2 | 3 | 4 | 3 |
| Net profit | 1 | 2 | 2 | 1 | 2 | 2 | 2 | 2 |
| EPS (₹) | 1.03 | 1.90 | 2.46 | 1.76 | 1.84 | 2.64 | 2.55 | 1.94 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 5 Sept 2026 · D&H India sends annual report link letters to shareholders with no registered email | compliance | low | — | — |
| 5 Sept 2026 · D&H India 41st AGM notice on 30 Sept; director re-appointments | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 41st Annual Report and AGM Notice filed; AGM on 30 Sep 2026 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · D&H India 41st AGM Notice Published; Book Closure from 24 September 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · D&H India resubmits Q1 FY27 results after BSE flagged missing signatory details | results | low | — | — |
| 13 Aug 2026 · D&H India submits newspaper clippings of Q1 FY27 results | compliance | minimal | — | — |
| 8 Aug 2026 · Board meeting on 12 Aug 2026 to approve Q1 FY27 results and director re-appointments | results | low | — | — |
| 6 Jul 2026 · RTA Certificate under Reg 74(5) filed with BSE for Q1 FY27 | compliance | minimal | — | — |
| 2 Jul 2026 · D&H India gets upgraded credit rating on bank facilities | credit debt | high | — | — |
| 1 Jul 2026 · Credit rating upgraded by Infomerics for bank facilities | credit debt | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| JYOTI CNC AUTOMATION LTD |
| 22,490 |
| 69.9 |
| 11.24 |
| 39.7 |
| 16.8 |
| 19.2 |
| — |
| 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.3 | 26.9 | 53 of 138 | 62% |
| P/B | 2.5 | 3.5 | 47 of 111 | 58% |
| ROCE | 11.4 | 11.3 | 72 of 144 | 50% |
| ROE | 10.8 | 9.5 | 53 of 117 | 55% |
| Debt / Equity | 0.6 | 0.2 | 93 of 117 | 21% |
| EBITDA margin | 6.2 | 12.4 | 87 of 110 | 21% |
| Revenue growth | 24.7 | 20.6 | 46 of 114 | 60% |
| Profit growth | 47.9 | 17.1 | 45 of 109 | 59% |
| Market cap | 195 | 356 | 82 of 140 | 42% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
