Hilton Metal Forging Limited

HILTON.NS

Manufacturing - Metal Fabrication · Industrials

Price

₹21.35

+0.30 (+1.43%)

Market Cap

₹549.1M

Exchange

National Stock Exchange of India

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+94.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 13.2M (2022) → 25.7M (2026)

Hilton Metal Forging Limited is an Indian company that makes metal forged parts used in automobiles and industrial machinery. It produces components like flanges, hubs, and other precision-forged parts, selling mainly to automotive manufacturers and their suppliers. The company operates in the metal fabrication industry, which is a key part of India's broader manufacturing supply chain.

Hilton earns revenue by selling forged metal components directly to original equipment manufacturers (OEMs) and tier-1 auto suppliers, meaning its income depends heavily on vehicle production volumes. It operates primarily in India, with a market cap of roughly 0.5 billion rupees, making it a small-cap industrial company. The thin operating margin of about 3.9% reflects the competitive, low-margin nature of contract metal fabrication, where raw material costs like steel can squeeze profits quickly. The main growth driver is India's expanding automotive sector, but rising input costs and customer pricing pressure remain the biggest risks to profitability.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+13.0% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-97.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

50.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$115M cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Hilton Metal Forging Limited is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

8.7%

Thin — 8.7% gross margin

Operating Margin

3.9%

Thin — 3.9% operating margin

ROCE

1.0%

Weak — 1.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+41.3%

Fast-growing sales (+41.3% YoY)

EPS YoY

-46.1%

Earnings shrinking (-46.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

-164%

Weak — only -164% of profit becomes cash

FCF Margin

-3.5%

Burning cash (-3.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.33

Conservative — low debt load (0.33)

Interest Cover

1.29x

Dangerous — barely covers interest (1.3x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

P/E Ratio (TTM)

14.7x

Attractive valuation — P/E 14.7

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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