Highness MicroelectronicsShare price, financial results, shareholding and management
- Market cap
- ₹165 cr
- Stock P/E
- 40.1peers 27.5
- Book value
- ₹52.6
- Price to book
- 6.06
- EV / operating profit
- -
- Market cap to sales
- 10.20
- ROCE · FY26
- 28.3%
- ROE · FY26
- 24.7%
- ROE, 3-year average
- 51.9%
- Operating margin · FY26
- 41.9%peers 6.2%
- Sales growth, 3 years
- 18.6%
- Profit growth, 3 years
- 112.1%
- Debt to equity
- 0.29peers 0.29
- Borrowings
- ₹7.9 cr
- Interest cover
- 5.6×
- Cash from business / op. profit
- 70%
- Debtor days
- 235
- Pledged
- 0.00%
- Promoter holding
- 64.96%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 514
- 52-week high / low
- ₹325 / ₹108
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Highness Microelectronics share price chart
Close on 6 Nov 2026 · +1.99% on the day · Vol 9,600
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +21.5%
- 3 months
- +74.5%
- 6 months
- +93.3%
- Traded a day, 20 days
- ₹0.37 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +15% | +67% |
| 3 years, a year | +19% | +112% |
| Latest half, H2 FY26 | +19% | +246% |
About Highness Microelectronics: business, products and customers
Highness Microelectronics makes tough, made-to-order display screens and the electronics around them for defence, railway, hospital and factory equipment makers. It works from Navi Mumbai and its shares trade on BSE SME.
Highness Microelectronics was founded in 2007 by Manjul Kumar Kejriwal and is run by Managing Director Gaurav Manjul Kejriwal. At two units in Rabale, Navi Mumbai, it takes display glass bought mainly from East Asia and turns it into finished screens: it adds brighter backlights, touch panels, controller boards, protective glass, optical bonding and enclosures so that the display works in heat, vibration, sunlight or night-vision conditions. Its customers are the makers of the final systems: defence system integrators, railway and metro suppliers of passenger information and ticketing displays, makers of surgical and medical monitors, and industrial equipment makers.
The business model shapes the numbers. Most of the material is imported glass and parts, so the company's margin is its design and finishing work, which the managing director put at forty to fifty per cent of value in defence products; margins therefore swing with the mix of projects in a year. Orders are designed to each customer's specification and many go to government-linked buyers, so the company holds a lot of stock and waits a long time to be paid, and the second half of the year has usually been the stronger one.
Read more about the business
The managing director said on the June 2026 call that no other player makes displays in India of the kind Highness does, and that larger unlisted firms such as Samtel and Advantech mostly import and assemble kits and are themselves Highness customers. The documents name no listed company doing the same work; the investor presentation lists cheap Chinese imports as a threat.
What is new: a glass cutting line at Rabale that lets the company resize displays for long, narrow railway screens, a planned plant in Goa to bond chips and film onto glass so that it can make the open cells it now imports, a memorandum with Axiom Manufacturing of the USA to make Highness designs in America and help Axiom products reach Indian customers, and export orders, including design wins from Australia.
From the offer document (red herring prospectus), the FY26 annual report, the June 2026 investor presentation and earnings call, and the company's press releases and announcements of September and October 2026.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 28% in FY26.
- It brings in more cash than it shows as profit: ₹4.7 cr against ₹4.1 cr in FY26.
- It has little debt for its size: debt to equity 0.29.
- The promoters own a large part of the company: 64.96%.
To watch
- Revenue of about ₹30 cr to ₹32 cr in FY27, as targeted (Earnings call transcript, June 2026, p.10).
- Approval under the ECMS scheme and start of the Goa plant (Annual report FY26, p.20; Earnings call transcript, June 2026, p.8).
- Delivery of the ₹6 cr medical order within sixteen to twenty weeks of 26 September 2026 (Announcement, 26 Sep 2026, p.2).
- Collection of receivables and a shorter cash cycle, the company's stated first priority for FY27 (Annual report FY26, p.20).
- Customers take longer to pay than before: 235 days in FY26, against 4 in FY21.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Highness Microelectronics revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Highness Microelectronics half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H2FY26 | |
|---|---|---|
| Sales | 7.35 | 8.77 |
| Expenses | 5.58 | 3.92 |
| Operating profit | 1.77 | 4.85 |
| OPM | 24.1% | 55.3% |
| Interest | 0.46 | 0.57 |
| Depreciation | 0.13 | 0.91 |
| Profit before tax | 1.20 | 4.14 |
| Net profit | 0.92 | 3.18 |
Highness Microelectronics profit and loss
Full years to March, FY21 to FY26 · ₹ crore, consolidated where reported
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Sales | 3.10 | 6.94 | 9.66 | 10.70 | 14.07 | 16.12 |
| Expenses | 2.61 | 6.24 | 6.53 | 4.72 | 9.45 | 9.36 |
| Operating profit | 0.49 | 0.70 | 3.13 | 5.98 | 4.62 | 6.76 |
| OPM | 15.8% | 10.1% | 32.4% | 55.9% | 32.8% | 41.9% |
| Other income | 0.04 | 0.11 | 0.23 | 0.29 | 0.10 | 0.80 |
| Interest | 0.35 | 0.33 | 0.25 | 0.20 | 0.53 | 1.17 |
| Depreciation | 0.13 | 0.09 | 2.48 | 2.91 | 0.93 | 1.04 |
| Profit before tax | 0.05 | 0.39 | 0.63 | 3.16 | 3.26 | 5.35 |
| Tax rate | 40.0% | 33.3% | 31.7% | 25.0% | 24.5% | 23.4% |
| Net profit | 0.03 | 0.26 | 0.43 | 2.37 | 2.46 | 4.10 |
| EPS ₹ | 0.09 | 0.74 | 1.23 | 6.77 | 7.01 | 7.94 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY22 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Highness Microelectronics profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Operating margin | 15.8% | 10.1% | 32.4% | 55.9% | 32.8% | 41.9% |
| Tax rate | 40.0% | 33.3% | 31.7% | 25.0% | 24.5% | 23.4% |
| ROCE | · | 22.0% | 28.3% | 79.0% | 46.3% | 28.3% |
| ROE | · | 20.8% | 27.9% | 82.1% | 48.9% | 24.7% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Highness Microelectronics debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Highness Microelectronics balance sheet
At each 31 March · ₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.01 | 0.01 | 0.01 | 3.51 | 5.16 |
| Reserves | 1.11 | 1.37 | 1.69 | 4.06 | 2.48 | 22 |
| Net worth | 1.12 | 1.38 | 1.70 | 4.07 | 5.99 | 27.16 |
| Borrowings | 2.29 | 1.77 | 1.36 | 1.38 | 4.93 | 7.94 |
| Other liabilities | 1.71 | 2.12 | 1.72 | 2.75 | 2.80 | 10.78 |
| Total liabilities | 5.12 | 5.27 | 4.78 | 8.20 | 13.72 | 45.88 |
| Fixed assets | 0.30 | 0.21 | 1.38 | 1.36 | 2.28 | 3.35 |
| Capital work in progress | 0.01 | 0.01 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 4.81 | 5.05 | 3.40 | 6.84 | 11.44 | 42.53 |
Highness Microelectronics cash flow
₹ crore
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Cash from operations | 0.09 | 0.91 | · | 2.92 | -1.43 | 4.70 |
| Cash from investing | 0 | 0 | · | -2.81 | -1.85 | -2.06 |
| Cash from financing | -0.07 | -0.84 | · | 0.11 | 3.12 | 19.05 |
| Net cash flow | 0.02 | 0.07 | · | 0.22 | -0.16 | 21.69 |
| Capital spending | · | · | · | · | 1.85 | 2.11 |
Working capital
Days
| FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|
| Debtor days | 4 | 0 | 1 | 5 | 109 | 235 |
| Inventory days | · | · | 145 | 1,179 | 474 | 950 |
| Days payable | · | · | 52 | 170 | 92 | 506 |
| Cash conversion cycle | 4 | 0 | 93 | 1,014 | 491 | 679 |
| Working capital days | 72 | 39 | 2 | 93 | 146 | 80 |
Highness Microelectronics peers and competitors
Listed SME companies in the same industryBy sales, Highness Microelectronics is number 53 of the 55 listed SME companies in industrial manufacturing.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Ishan International | 11 | 27.2 | 26.9 | 0.4 | 1.9% | 0.27 |
| Sjp Ultrasonics | 108 | 20.5 | 26.6 | 5.2 | 31.2% | 0.29 |
| Containe Technologies | 10 | 9.9 | 24 | 1 | 9.1% | 0.55 |
| Arrowhead Seperation Engineering | 13 | 75.1 | 23.3 | 0.2 | 3.3% | 0.32 |
| Sollfege Smart Electronics | 81 | 36.9 | 22.2 | 2.2 | 18.9% | 0.60 |
| Boss Packaging Solutions | 24 | 14.5 | 20 | 1.7 | 13.7% | 0.00 |
| Shining Tools | 109 | 27.9 | 18.3 | 3.9 | 36.9% | 0.24 |
| Misquita Engineering | 26 | 111.1 | 18 | 0.2 | 3.2% | 0.17 |
| Highness Microelectronics | 165 | 40.1 | 16.1 | 4.1 | 41.9% | 0.29 |
| Quality RO Industries | 6 | - | 15.7 | -0.4 | 2.4% | 0.63 |
| Benara Bearings and Pistons | 15 | - | 3 | -16 | -469.0% | - |
| Median of the 10 others | 20 | 27.5 | 21.1 | 0.7 | 6.2% | 0.29 |
Highness Microelectronics shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
Highness Microelectronics shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 26 | Apr 26 | Sep 26 | |
|---|---|---|---|
| Promoters | 95.56% | 64.96% | 64.96% |
| Foreign investors (FIIs) | 0.00% | 5.35% | - |
| Indian institutions (DIIs) | 0.00% | 10.62% | - |
| Number of shareholders | 8 | 366 | 514 |
Highness Microelectronics study: the business from its own documents
Read from 7 of the company's own documentsHighness Microelectronics so far
From the company's own record
- 26 Sept 2026An order announced
- 10 Oct 2026An order announced
- 30 Sept 2026Promoters at 64.96%
- 6 Nov 2026Highest close since listing, ₹318.50
Highness Microelectronics key facts from the filings
Each figure with the document it comes from
- Defence and aerospace
- ₹6.4 cr
- Largest segment in FY26 at 39.58% of revenue; railways gave ₹4.4 cr and medical ₹4.3 cr.Investor presentation, June 2026, p.37
- Exports
- ₹9.1 cr
- Sales abroad in FY26, more than half of revenue, against ₹0.12 cr in FY24; sales in India fell over the same years.Investor presentation, June 2026, p.36
- Largest customer
- 44.78%
- Share of revenue in the nine months to December 2025 from one customer, up from 17.49% in FY23; customers are not named.Offer document, p.34
- Imported purchases
- 92.94%
- Share of purchases imported in the nine months to December 2025, with significant imports from China.Offer document, p.34
- Stock and dues
- ₹18.8 cr
- Inventory of ₹8.4 cr plus receivables of ₹10.4 cr at March 2026, more than a full year's revenue of ₹16.1 cr.Investor presentation, June 2026, p.32 and p.33; our arithmetic
Show 5 more facts
- Orders in hand
- ₹8.5 cr to ₹9 cr
- Unexecuted purchase orders in June 2026, with customer forecasts of about ₹30 cr over eighteen months.Earnings call transcript, June 2026, p.15
- Medical order
- About ₹6 cr
- Order from Premia Solutionz in September 2026 for medical displays, accessories and backlights, to be delivered in sixteen to twenty weeks.Announcement, 26 Sep 2026, p.2; Press release, 28 Sep 2026, p.2
- Plant use
- About 20%
- Average use of capacity given on the June 2026 call; many steps are still done by hand.Earnings call transcript, June 2026, p.12
- Goa plant
- 8,000 a day
- Planned output of small and medium displays from the chip-on-glass and film-on-glass lines on a 5,000 square metre plot offered at Tuem.Investor presentation, June 2026, p.18
- Goa machines
- About ₹20 cr
- Machine spending planned in two phases, not counting building work.Earnings call transcript, June 2026, p.9
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the June 2026 call the chief financial officer said the company is targeting revenue of about ₹30 cr to ₹32 cr in FY27, with an EBITDA margin of about 35% and net margin above 25%, and more than ₹50 cr of revenue in FY28. The managing director said the Goa plant could start commercial production about a year after June 2026; the annual report says the plant depends on approval under the government's ECMS scheme. The company says its first priority for FY27 is to shorten the time it takes to turn stock and dues into cash.
| What management said | When | What happened |
|---|---|---|
| Glass cutting line at Rabale running by end July, latest mid-August 2026 | June 2026 call | Press release of 19 Sep 2026 says Rabale now has in-house glass cutting |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns its money designing and toughening imported display glass into finished screens for defence, railway, medical and factory equipment, and keeps a wide margin on that work.
Its weak spots are its small size, one customer that takes a large part of its output, imported glass from one region, and a great deal of money tied up in stock and unpaid bills.
AverageCan it set its own prices?Custom designs for demanding uses let it earn high margins, but those margins move a lot with the mix of projects in a year.
AverageHow strong is it against rivals?Its design and certification work set it apart from importers, but larger and better-funded electronics makers may enter, and cheap imports compete.
WatchWho are its customers?Equipment makers in defence, railways, medicine and industry, but one unnamed customer gave almost half of recent revenue.
WatchDoes it need a lot of money?Yes: stock and unpaid bills together exceed a year of sales, and a new plant is planned.
AverageCan it keep finding new work?It has export design wins and recent domestic orders, and railway customers give forecasts, but orders in hand cover only a few months.
WatchDo good and bad years swing a lot?Yes: sales are small and project-based, so margins and profit have moved sharply between halves and years.
Who runs Highness Microelectronics?
Promoters, directors and officers; tap a name for the background
GMGaurav Manjul KejriwalPromoter and Managing Director
B.Com in business management from Sydenham College, University of Bombay (2001), and a Cambridge Business English Certificate; a founding director with over 23 years in the display industry, a member of the Society for Information Display and SPIE, and in charge of technology tie-ups in India and abroad. The offer document records Gaurav Manjul Kejriwal as the son of Manjul Kumar Kejriwal and the spouse of Shruti Gaurav Kejriwal.
Offer document, p.190, p.192 and p.208MKManjul Kumar KejriwalPromoter and Non-Executive Director
Founded the company in 2007; 45 years of experience, 23 of them in displays; a director since incorporation who stepped down in November 2024 and rejoined as non-executive director in March 2025.
Offer document, p.190 and p.208SGShruti Gaurav KejriwalPromoter and Whole-Time Director
B.Com from D.A.V. (P.G.) College, Dehradun (2001), with 11 years in administration, accounts and operations; a director since August 2024, overseeing human resources and marketing.
Offer document, p.190 and p.208SSSanjiv SwarupIndependent Director
B.Com (Hons.) from the University of Calcutta and a law degree from Saurashtra University, with over 45 years across listed and private companies and independent directorships elsewhere.
Offer document, p.191JAJaya Ankur SinghaniaIndependent Director
Company secretary since 2009 and founder of a corporate legal advisory firm, with 16 years in corporate law, governance and compliance.
Offer document, p.190 and p.191KMKeval Mahendra ShahIndependent Director
Chartered accountant since 2016 with over 10 years advising on mergers, restructuring, tax and exchange control.
Offer document, p.191KKKavita Kailash BohraIndependent Director
Chartered accountant since 2018 with over 8 years in audit, assurance and governance.
Offer document, p.191MGMayurkumar GoriChief Financial Officer
Presented the FY26 results on the June 2026 call as chief financial officer.
Earnings call transcript, June 2026, p.2Highness Microelectronics latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹8.8 cr (+19%), net profit ₹3.2 cr (+246%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 64.96%.
- 10 Oct 2026: an order announced.
- 26 Sept 2026: an order announced.
Highness Microelectronics announcements
9 on record, latest first; each opens the filing on the exchange
- Company UpdateIntimation of Receipt of Purchase Order under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015PDF ↗
- Company UpdateCertificate under Reg 74(5) of SEBI (DP) Regulations, 2018 for the quarter ended September 30, 2026PDF ↗
- Company UpdateHighness Microelectronics Limited informed the Exchange regarding "Participation in APTA 2026 TRANSform & EXPO"PDF ↗
- Company UpdateHighness Microelectronics Limited is awarded the ZED Gold Certification under the MSME Sustainable (ZED) Certification SchemePDF ↗
- Company UpdatePress Release pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015PDF ↗
- Company UpdateIntimation of Receipt of Purchase order under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015PDF ↗
- Company UpdateIntimation of Analyst/Institutional Investor meeting under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015PDF ↗
- Company UpdateGlimpses of Participation in SEMICON India 2026PDF ↗
- Company UpdatePress Release pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015PDF ↗
Highness Microelectronics annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 30 June 2026 ↗read
Highness Microelectronics share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Highness Microelectronics' data · 7
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (51,63,600 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY21 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Highness Microelectronics
What does Highness Microelectronics do?
Highness Microelectronics makes tough, made-to-order display screens and the electronics around them for defence, railway, hospital and factory equipment makers. It works from Navi Mumbai and its shares trade on BSE SME.
What is the share price of Highness Microelectronics?
₹319 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Highness Microelectronics?
₹165 cr at the close on 6 Nov 2026, on 51,63,600 shares.
What is the P/E of Highness Microelectronics?
40.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Highness Microelectronics' revenue and profit?
Revenue ₹16 cr and profit after tax ₹4 cr in FY26.
Who are the promoters of Highness Microelectronics?
Gaurav Manjul Kejriwal, Manjul Kumar Kejriwal, Shruti Gaurav Kejriwal; promoters held 64.96% at 30 Sept 2026.
What is Highness Microelectronics' website?
www.highnessmicro.com
More SME companies like Highness Microelectronics
Other listed SME companies in industrial manufacturing, the closest in size first, each read from its own documents.
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Built from 2 annual reports, 2 press releases, 1 offer document, 1 earnings call transcript, 1 investor presentation, 9 exchange announcements, 3 shareholding patterns and 6 years of reported results. Every figure carries its source; where the documents are silent, the page says so.