BSE: 522091
UNITED VAN DER HORST LTD.
Manufactures marine engine parts and hydraulic and pneumatic cylinders for industrial buyers, and operates a job-work and reconditioning service for components. FY26 revenue from operations was ₹31.94 crore. Within segment reporting, the manufacturing segment brought in ₹1.11 crore, job work and reconditioning ₹4.83 crore, and a third unnamed category ₹11.65 crore of the ₹20.29 crore total segment revenue. Materials account for 40.4% of revenue, the largest cost line, with other opex at 25.1%, depreciation at 8.5% and capex at 13.5% of revenue. The company posted FY26 EBITDA margin of 40.42% and net profit of ₹5.23 crore, with current borrowings nearly tripling to ₹1,911.74 lakhs during the year. The promoter group holds 74.94% of equity and the company completed a 5-for-1 share split in January 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing, Job Work and Reconditioning, Unnamed segment. Small-cap, niche industrial component maker with a job-work service line
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 32 |
| EBITDA (ex other income) | 12 |
| margin % | 37.7 |
| Owners' profit | 5 |
| EPS, as reported (₹) | 0.76 |
| ROE % · ROCE % | 9.8 · 13.0 |
| Debt / equity (x) | 0.62 |
| Cash from operations | 0 |
| Capex | (4) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q4 FY26 | Q1 FY27 |
|---|---|---|
| Revenue | 6 | 9 |
| Profit before tax | 1 | 2 |
| Net profit | 0 | 1 |
| EPS (₹) | 0.05 | 0.16 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufacturing | 1 | 18.7 |
| Job Work and Reconditioning | 5 | 81.3 |
| Total, before eliminations | 6 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BHEL | 1,41,563 | 58.2 | 5.41 | 47.1 | 6.1 | 4.7 | 14.3 | 9.3 |
| ABB INDIA LIMITED | 1,37,523 | 46.0 | 14.72 | — | 23.0 | 10.2 | — | 15.2 |
| CG POWER AND IND SOL LTD | 1,31,087 | 85.8 | 15.99 | 71.3 | 14.6 | 19.2 | 33.2 | 14.7 |
| HITACHI ENERGY INDIA LTD | 1,26,820 | 110.2 | 24.50 | — | 19.1 | 24.7 | — | 16.9 |
| SIEMENS LTD | 1,20,079 | 36.7 | 8.67 | 33.8 | 19.9 | 20.6 | 31.1 | 11.6 |
| GE VERNOVA T&D INDIA LTD | 1,04,269 | 79.9 | 38.76 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,01,282 | 68.1 | 21.05 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED | 51,299 | 16.4 | 5.42 | 15.9 | 33.4 | 22.7 | 38.0 | 16.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 157.1 | 36.5 | 34 of 34 | 0% |
| P/B | 4.3 | 5.4 | 15 of 33 | 56% |
| ROCE | 10.1 | 16.6 | 27 of 36 | 26% |
| ROE | 9.8 | 14.7 | 27 of 34 | 21% |
| Debt / Equity | 0.6 | 0.1 | 30 of 34 | 12% |
| EBITDA margin | 31.5 | 16.4 | 4 of 35 | 91% |
| Market cap | 227 | 6267 | 31 of 35 | 12% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · RTA submits quarterly dematerialisation certificate for Q2 FY26-27 | compliance | minimal | — | — |
| 30 Sept 2026 · Trading Window Closes Oct 1 for Q2 Results | compliance | minimal | — | — |
| 23 Sept 2026 · AGM results: all 4 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 21 Sept 2026 · 39th AGM held on Sept 21, 2026 via video conferencing | board shareholder meetings | medium | — | — |
| 31 Aug 2026 · Notice of 39th AGM, e-voting and book closure details | compliance | minimal | — | — |
| 29 Aug 2026 · 39th AGM notice on Sept 21, 2026 via VC; MD re-appointment and related party deals on agenda | board shareholder meetings | low | — | — |
| 29 Aug 2026 · 39th AGM Notice and FY25-26 Annual Report filed; CMD re-appointment on agenda | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Notice of 39th AGM published in newspapers; meeting on 21 Sept 2026 | compliance | minimal | — | — |
| 8 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 6 Aug 2026 · UVDHL Q1 FY27: Revenue flat at 915L, profit dips 45% YoY to 112L | results | high | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
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.