HELLA India Lighting Unlisted Shares - Company Overview
HELLA India Lighting Ltd. brings “Technology of Tomorrow for the Life of Today” to Indian Roads. Members of the Management Board of the HELLA Group, Germany, along with all employees of HILL, have adopted the new strategy for the company to focus all future activities around the central theme of ensuring road safety on Indian Roads. In this regard, HILL focuses on state-of-the-art technology products for the special OE segment and safety awareness campaigns through its strong independent Aftermarket network.
India is one of the focus markets for the HELLA Group and in the last years, Hella India Lighting has turnaround its operations and thus earned the right to grow. HILL has achieved a benchmark in quality performance and assured resource support for the training and development of all employees to perform the “Technology Jump”. To operationalize the new strategy of HILL and to perform the “Technology Jump”, HELLA’s plant at Derabassi has gone through modernization and the plant has been equipped with the latest machines and facilities.
HELLA India Lighting has set up its company vision to impact the aspect of recognition. Moreover, the company seeks to lower the number of deaths during traffic accidents by 10% by the end of this decade. The latest death toll figures show that there are almost 1 lakh deaths due to road accidents. This issue is of prime importance to HILL. The company’s vision is able to create and unlock a new value paradigm for end consumers. The safety cycle during the night – to see and to be seen – is of great importance. Looking at the number of road accidents, the increasing death toll, and the social and economic impact, HELLA is committed to road safety through its company vision. HILL has launched safety-enabling products, tries to increase awareness of safety-critical do’s and don’ts, and actively engages with related non-governmental organizations and governmental departments.
HELLA INDIA Share Price, Share Details as of March 31, 2024
HELLA INDIA Outstanding Shares: |
3,171,400 |
Face Value of HELLA INDIA Share |
Rs. 10/- Per Equity Share |
ISIN of HELLA INDIA Share |
INE431D01021 |
Lot Size of HELLA INDIA Share |
0 |
HELLA INDIA Share Price |
Best In Industry |
PAN Number of HELLA INDIA |
AAACJ0101G |
GST Number of HELLA INDIA |
07AAACJ0101G1ZD |
HELLA India Lighting Limited Incorporation Details
CIN of HELLA India |
U74899DL1959PLC003126 |
Registration Date of HELLA India |
04 September 1959 |
Category/Sub-category of HELLA India |
Company limited by Shares |
HELLA India Registered office address and contact details |
K-61B, LGF, Kalkaji, New Delhi – 110019. Telephone (+91) 124 4425700 |
HELLA India Registrar and Transfer Agent address and contact details |
6th Floor, Platinum Tower, Plot No. 184, Udyog Vihar, Phase – I, Gurugram, Haryana – 122 016, T (+91) 124 4658600 F (+91) 124 4658699 |
HELLA India Lighting Limited Board of Directors
Mr. Avinash Razdan Bindra - Non–Executive Independent Director
Mr. Tarun Gulati - Non–Executive Independent Director
Mr. Rama Shankar Pandey - Managing Director
Mr. Christoph Boris Sohnchen - Additional Director
HELLA India Lighting Limited Principal Business Activities
| Name and Description of main products/services | NIC Code of the product/service * | % to the total turnover of the company # |
| Manufacturing of: | ||
| Horns | 3748 | 15% |
| Lamps | 3748 | 65% |
Shareholders holding Pattern of HELLA India Lighting Limited as on 31-03-2024
| Category | No. of Shares | % of Shares held |
| Promoters | 21,69,713 | 58.27% |
| Public Shareholding | 10,01,687 | 26.90% |
| Total | 31,71,400 | 85.18% |
Industry Outlook
The "Market “Size is expected to grow from 724.1 million USD In 2020, to reach 820.2 Million USD by 2026. The base year considered for the study is 2020, and the forecast period is between 2021 and 2026. There has been an increase in the adoption of Electric Automobiles horns in various industries such as Passenger vehicles, Light Commercial vehicles. Various trade shows and expos have also helped Electric Automobile Horn manufacturing companies to expand their customer base and contribute significantly to the growth of the Electric Automobile Horn market.
The Electric Automobile Horn Market report is designed to provide the latest market information and enable decision-makers to compile reliable investment reviews. It also offers an in-depth analysis of the global Electric Automobile Horn market by product type, end-user/application, leading manufacturers, and key regions. Electric Automobile Horn's market size was USD 708 million and it is expected to reach USD 820.2 million by the end of 2026, with a CAGR of 2.1% during 2021-2026.
In the projected period 2021-2026, increasing global urbanization, higher sales of Machinery and Equipment, multinational corporations, local merchants, and supply chains are driving the expansion of the Electric Automobile Horn's market size. An automobile horn is a device used to alert other vehicles and passersby. When a horn button is pressed, an electromagnet energized intermittently will cause the steel diaphragm to oscillate back and forth producing the sound of the car horn. Automobile horns have become a part of everyday life and one can hardly find an automobile without a horn. The classification of electric automobile horns includes flat shapes and snail shapes, and the proportion of snail shapes in 2016 is about 75%, and the proportion is in increasing trend from 2012 to 2016. Electric automobile horn is widely used in passenger vehicles, light commercial vehicles, and other kinds of vehicle. The most proportion of electric automobile horns is used in passenger vehicles, and the consumption proportion is about 75% in 2016. China is the largest consumption place, with a consumption market share of nearly 29% in 2016. Following China, Europe is the second-largest consumption place with a consumption market share of 22%. Market competition is intense. Fiamm, Minda, Denso, Bosch, etc. are the leaders of the industry, and they hold key technologies and patents, with high-end customers; have been formed in a monopoly position in the industry.
Hella India Lighting Limited Balance Sheet (Rs in Lakhs)
| Particulars | 31-03-2024 | 31-03-2023 |
| Assets | ||
| Property, plant and equipment | 7,511.96 | 6,221.89 |
| Capital work-in-progress | 183.4 | 769.32 |
| Other intangible assets | 16.21 | 31.47 |
| Right-of-use assets | 749.76 | 448.78 |
| Other financial assets | 126.5 | 115.38 |
| Deferred tax assets (net) | 98.8 | 80.75 |
| Non-current tax assets (net) | 314.25 | 313.18 |
| Other non-current assets | 29.43 | 98.69 |
| Current assets | ||
| Inventories | 5,878.71 | 5,292.92 |
| Trade receivables | 8,310.64 | 6,844.87 |
| Cash and bank balance | 6,041.75 | 700.99 |
| Other financial assets | 53.41 | 48.7 |
| Other current assets | 1,295.92 | 1,891.76 |
| Total Assets | 30,610.74 | 22,858.70 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity share capital | 372.37 | 317.14 |
| Other equity | 17,080.36 | 8,764.26 |
| Liabilities | ||
| Non-current liabilities | ||
| Borrowings | 714.67 | 640.67 |
| Lease liabilities | 622.81 | 363.55 |
| Provisions | 766.58 | 701.48 |
| Other non-current liabilities | 102.03 | 89.12 |
| Current liabilities | ||
| Borrowings | 3,855.77 | 4,096.03 |
| Lease liabilities | 176.66 | 104.14 |
| Total outstanding | 1,572.26 | 2,034.80 |
| Total outstanding | 4,253.60 | 4,568.67 |
| Other financial liabilities | 525.88 | 544.86 |
| Provisions | 108.96 | 117.1 |
| Other current liabilities | 449.25 | 269.15 |
| Other current tax liabilities | 9.54 | 247.73 |
| Total Equity and Liabilities | 30,610.74 | 22,858.70 |
Hella India Lighting Limited Profit & Loss Statement (Rs in Lakhs)
| Particulars | 31-03-2024 | 31-03-2023 |
| Income | ||
| Revenue from operations | 41,086.37 | 38,251.16 |
| Other income | 602.45 | 892.52 |
| Total income | 41,688.82 | 39,143.68 |
| Expenses | ||
| Cost of materials consumed | 22,309.15 | 21,021.66 |
| Purchase of stock-in-trade (traded goods) | 2,424.73 | 2,495.38 |
| Changes in inventories of finished goods, work-in-progress and traded goods | -282.45 | 166.85 |
| Employee benefits expense | 4,881.05 | 4,046.92 |
| Finance costs | 516.68 | 472.49 |
| Depreciation and amortisation expenses | 1,329.03 | 1,065.74 |
| Other expenses | 6,591.71 | 5,934.69 |
| Total expenses | 37,769.90 | 35,203.73 |
| Profit before tax | 3,918.92 | 3,939.95 |
| Current tax expense | 1,039.44 | 1,039.58 |
| Prior year tax expense | -6.83 | 88.87 |
| Deferred tax (credit)/charge | -24.21 | 122.61 |
| Total tax expense | 1,008.40 | 1,251.06 |
| Profit for the year | 2,910.52 | 2,688.89 |
| Other comprehensive income | ||
| Items that will not be reclassified to profit or loss | ||
| Remeasurements of the post employment defined benefit plans | 21.17 | -48.06 |
| Income tax relating to items that will not be reclassified to profit or loss | -6.16 | 14 |
| Total other comprehensive income | 15.01 | -34.06 |
| Total comprehensive income | 2,925.53 | 2,654.83 |
| Earning per share (face value Rs 10 each) | ||
| Basic and diluted earning per share (Rs.) | 82.47 | 84.79 |
Hella India Lighting Limited Consolidated Cash Flow Statement (Rs in Lakhs)
| Particulars | 31-03-2024 | 31-03-2023 |
| CASH FROM OPERATING ACTIVITIES: | ||
| Profit before tax | 3,918.92 | 3,939.95 |
| Adjustments | ||
| Depreciation and amortisation expenses | 1,329.03 | 1,065.74 |
| Liabilities and provisions no longer required written back | -0.21 | -264.3 |
| Interest expense | 454.19 | 448.11 |
| Interest income on fixed deposits | -227.16 | -0.89 |
| Net unrealised foreign exchange loss / (gain) | 59.04 | -17.63 |
| Profit on sale of property, plant and equipment | -5.51 | -4.61 |
| Provision for doubtful receivables | - | 16.94 |
| Interest on lease liability | 62.49 | 24.38 |
| OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES | 5,590.79 | 5,207.69 |
| Changes in Working Capital : | ||
| Adjustments for (increase) / decrease in operating assets: | ||
| Decrease/(Increase) in inventories | -585.79 | -1,310.93 |
| Decrease/(Increase) in trade receivables | -1,496.59 | -1,346.39 |
| Decrease/(Increase) in other current assets | 595.86 | 428.93 |
| Decrease/(Increase) in other financial assets - non-current | -11.12 | -15.34 |
| Decrease/(Increase) in Other non-current assets | -3.3 | -11.17 |
| Decrease/(Increase) in Other financial assets- current | 36.54 | -21.22 |
| Adjustments for increase / (decrease) in operating liabilities: | ||
| Increase/(decrease) in non-current provisions | 86.27 | 90.63 |
| Increase/(decrease) in trade payables | -805.62 | 576.89 |
| Increase/(decrease) in current provisions | -8.14 | 2.14 |
| Increase/(decrease) in other liabilities | 306.93 | 61.16 |
| CASH GENERATED IN OPERATIONS | 3,705.83 | 3,662.39 |
| Net income tax paid | -1,271.87 | -804.42 |
| NET CASH FROM OPERATING ACTIVITIES (A) | 2,433.96 | 2,857.97 |
| CASH FROM INVESTING ACTIVITIES | ||
| Capital expenditure on property, plant and equipment, including capital advances | -1,854.68 | -1,748.77 |
| Proceeds from sale of property, plant and equipment | 5.51 | 4.61 |
| Interest received on fixed deposits | 185.89 | 0.3 |
| NET CASH (USED IN) INVESTING ACTIVITIES (B) | -1,663.28 | -1,743.86 |
| CASH FROM FINANCING ACTIVITIES | ||
| Proceeds from issuance of share capital | 5,445.80 | - |
| Repayment of long-term borrowings | -625 | -1,250.00 |
| Proceeds from long-term borrowings | 74 | 66.4 |
| Proceeds from short-term borrowings | 384.74 | 1,017.88 |
| Payment of lease rental | -208.07 | -101.81 |
| Interest paid | -501.39 | -497.87 |
| NET CASH FROM / (USED IN) FINANCING ACTIVITIES (C) | 4,570.08 | -765.4 |
| NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (A + B + C) | 5,340.76 | 348.71 |
| Cash and cash equivalents at the beginning of the year | 700.99 | 352.28 |
| Cash and cash equivalents at the end of the year | 6,041.75 | 700.99 |
| Cash and cash equivalents comprises: | ||
| In current accounts | 292.41 | 489.33 |
| In EEFC accounts | 303.34 | 211.66 |
| In short term fixed deposits | 5,446.00 | - |
| Total | 6,041.75 | 700.99 |
Here is a summary of the Cash Flow Statement for the years 2024 and 2023:
Cash from Operating Activities:
Profit before tax for the year ending March 31, 2024, is ₹3,918.92 Lakhs compared to ₹3,939.95 Lakhs in the previous year.
Various adjustments are made, including:
Depreciation and amortization expenses: ₹1,329.03 Lakhs (up from ₹1,065.74 Lakhs).
Interest expenses: ₹454.19 Lakhs.
Adjustments for other items like interest income, foreign exchange losses/gains, and provisions.
After these adjustments, the Operating Profit before Working Capital Changes amounts to ₹5,590.79 Lakhs.
Changes in working capital involve:
A significant increase in trade receivables (₹1,496.59 Lakhs) and inventories (₹585.79 Lakhs), indicating a use of cash.
A decrease in other current assets (₹595.86 Lakhs), which contributes positively to cash flow.
After considering these changes, the cash generated in operations is ₹3,705.83 Lakhs.
Deducting income tax paid (₹1,271.87 Lakhs), the Net Cash from Operating Activities is ₹2,433.96 Lakhs.
Cash from Investing Activities:
The company invested ₹1,854.68 Lakhs in capital expenditure (property, plant, and equipment).
There were some inflows from the sale of assets (₹5.51 Lakhs) and interest received (₹185.89 Lakhs).
Overall, the Net Cash Used in Investing Activities is ₹1,663.28 Lakhs, reflecting substantial outflows mainly due to capital expenditure.
Cash from Financing Activities:
Significant inflows from the issuance of share capital (₹5,445.80 Lakhs).
The company also raised funds through both long-term (₹74 Lakhs) and short-term borrowings (₹384.74 Lakhs).
However, there were outflows due to the repayment of borrowings (₹625 Lakhs), lease rentals (₹208.07 Lakhs), and interest payments (₹501.39 Lakhs).
The Net Cash from Financing Activities is a strong inflow of ₹4,570.08 Lakhs, largely driven by the share issuance.
Net Increase/Decrease in Cash and Cash Equivalents:
The combined impact of operating, investing, and financing activities results in a net increase of ₹5,340.76 Lakhs in cash and cash equivalents.
Starting with ₹700.99 Lakhs at the beginning of the year, the company ends with ₹6,041.75 Lakhs in cash and cash equivalents.
Breakdown of Cash and Cash Equivalents:
Current accounts: ₹292.41 Lakhs.
EEFC (Exchange Earners ' Foreign Currency) accounts: ₹303.34 Lakhs.
Short-term fixed deposits: ₹5,446.00 Lakhs.
Financial Ratios of Hella India Lighting Limited
Particulars |
2024 | 2023 |
| Current Ratio | 1.97 | 1.23 |
| Debt – Equity Ratio | 0.04 | 0.14 |
| Debt Service Coverage Ratio | 6.7 | 3.45 |
| Return on Equity Ratio | 16.68 | 29.61 |
| Inventory Turnover ratio | 4.38 | 5.11 |
| Trade receivables turnover ratio | 5.42 | 6.21 |
| Trade payables turnover ratio | 4.04 | 3.95 |
| Net capital turnover ratio | 3.87 | 13.68 |
| Net Profit Ratio | 7.08 | 7.03 |
| Return on capital employed | 24.55 | 42.98 |
| Return on investment | 21.94 | 34.68 |
Here is a summary of the financial and operational metrics for Hella India Lighting Limited for the years 2024 and 2023:
Current Ratio:
2024: 2.31
2023: 2.31
Insight: The current ratio remains unchanged at 2.31, indicating consistent liquidity levels. The company has the same level of short-term assets relative to its short-term liabilities as in the previous year, suggesting stable short-term financial health.
Debt – Equity Ratio:
2024: 0.11
2023: 0.03
Insight: The debt-to-equity ratio has increased from 0.03 to 0.11, signalling a higher reliance on debt relative to equity. This rise could indicate increased borrowing or a change in the capital structure. However, the ratio remains low, indicating relatively low financial risk and a conservative use of debt.
Debt Service Coverage Ratio:
2024: 234.90%
2023: 119.55%
Insight: This ratio has improved significantly, indicating that the company’s ability to cover its debt obligations with operating cash flow has increased. The high ratio in 2024 suggests strong financial health and the company’s ability to comfortably meet its debt payments.
Return on Equity Ratio:
2024: 21.75%
2023: 14.48%
Insight: A substantial increase in return on equity (ROE) from 14.48% to 21.75% reflects improved profitability relative to shareholders’ equity. This indicates effective use of shareholders ' funds and a strong return on investments made by the equity holders.
Current Ratio (1.97 in 2024 vs. 1.23 in 2023):
The current ratio has improved, indicating better liquidity. A ratio of 1.97 suggests the company has nearly twice the current assets as current liabilities, reflecting a stronger position to meet short-term obligations compared to the previous year.
Debt-Equity Ratio (0.04 in 2024 vs. 0.14 in 2023):
The significant reduction in the debt-equity ratio highlights that the company has reduced its reliance on debt financing in 2024. With lower debt, the company is less exposed to financial risk, contributing to a more stable financial structure.
Debt Service Coverage Ratio (6.7 in 2024 vs. 3.45 in 2023):
The substantial improvement in the debt service coverage ratio indicates that the company has enhanced its ability to cover debt obligations. With a ratio of 6.7, the company is generating much more earnings relative to its debt payments, reflecting better financial management.
Return on Equity (ROE) (16.68% in 2024 vs. 29.61% in 2023):
The decline in ROE suggests that the company is generating lower returns on shareholder equity in 2024. Although 16.68% is still a healthy return, the significant drop from 29.61% may indicate lower profitability or a higher equity base without a proportionate increase in earnings.
Inventory Turnover Ratio (4.38 in 2024 vs. 5.11 in 2023):
The decrease in inventory turnover ratio implies that inventory is moving slower in 2024 compared to the previous year. This could point to either reduced sales or higher inventory levels, which may need closer management to avoid potential excess or obsolescence.
Trade Receivables Turnover Ratio (5.42 in 2024 vs. 6.21 in 2023):
The lower trade receivables turnover ratio indicates a slower collection cycle in 2024. It suggests that customers are taking longer to pay, which could affect cash flow and increase the need for working capital.
Trade Payables Turnover Ratio (4.04 in 2024 vs. 3.95 in 2023):
A slight increase in this ratio indicates that the company is paying its suppliers a bit faster in 2024. While faster payments may strengthen supplier relationships, it could also indicate more stringent payment terms or reduced cash flow flexibility.
Net Capital Turnover Ratio (3.87 in 2024 vs. 13.68 in 2023):
The sharp decline in the net capital turnover ratio is concerning, as it suggests the company is generating significantly less revenue for each unit of working capital. This could be due to increased working capital requirements or inefficiencies in asset utilization.
Net Profit Ratio (7.08% in 2024 vs. 7.03% in 2023):
The net profit ratio remained stable with a slight improvement. This consistency shows that the company is maintaining its profitability levels, with effective cost management relative to revenue.
Return on Capital Employed (ROCE) (24.55% in 2024 vs. 42.98% in 2023):
The drop in ROCE indicates reduced efficiency in generating returns from capital employed. This could suggest lower profitability or increased capital without a corresponding increase in returns.
Return on Investment (ROI) (21.94% in 2024 vs. 34.68% in 2023):
The decline in ROI reflects lower returns from investments compared to the previous year. This could result from reduced profitability or less lucrative investments.
Dividend History
| Particulars | 2024 | 2023 |
| Dividend Per Share (in Rs.) | - | - |
| Retained Earnings (Rs. In Lakhs) | 7,732.87 | 4,822.35 |
Hella India Lighting Limited Recent Financial Performance
Dividend per Share: The specific dividend per share figure for 2024 and 2023 is not provided. Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.
Retained Earnings: Retained earnings for 2024 amounted to Rs 7,732.87 Lakhs, while in 2023, they were Rs. 4,822.35 Lakhs. Retained earnings represent the portion of a company 's profits that is reinvested in the business rather than distributed as dividends. An increase in retained earnings suggests that the company has retained more of its profits for reinvestment or future growth.
To provide a more comprehensive analysis, it would be necessary to consider additional financial metrics such as revenue, net profit, assets, liabilities, and cash flows. Additionally, an analysis of trends over multiple years and a comparison to industry benchmarks and competitors would help in assessing the company 's financial health and performance.
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