HVAX TechnologiesShare price, financial results, shareholding and management
- Market cap
- ₹188 cr
- Stock P/E
- 13.1peers 8.3
- Book value
- ₹312
- Price to book
- 2.17
- EV / operating profit
- 12.9
- Market cap to sales
- 1.15
- ROCE · FY26
- 20.1%
- ROE · FY26
- 18.0%
- ROE, 3-year average
- 25.6%
- Operating margin · FY26
- 10.4%peers 13.4%
- Sales growth, 3 years
- 19.5%
- Profit growth, 3 years
- 42.0%
- Debt to equity
- 0.47peers 0.69
- Borrowings
- ₹40.9 cr
- Interest cover
- 7.3×
- Cash from business / op. profit
- -85%
- Debtor days
- 191
- Pledged
- 0.00%
- Promoter holding
- 66.65%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 422
- 52-week high / low
- ₹929 / ₹585
- 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.
HVAX Technologies share price chart
Close on 5 Nov 2026 · +0.16% on the day · Vol 2,850
Daily prices to 5 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 5 Nov 2026
- 1 month
- -5.2%
- 3 months
- +9.2%
- 6 months
- -19.8%
- 1 year
- -23.9%
- Since IPO
- +47.8%
- Traded a day, 20 days
- ₹0.17 cr
- Taken for delivery
- 90%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +25% | +30% |
| 3 years, a year | +20% | +42% |
| Latest half, H2 FY26 | +18% | +30% |
About HVAX Technologies: business, products and customers
HVAX Technologies designs and builds clean, dust free rooms and the air handling systems inside them for medicine factories, mostly in Africa, Asia and the Middle East, and has started on hospitals. Its shares trade on NSE Emerge.
HVAX Technologies, set up in Mumbai in 2010 as an air conditioning contractor, now builds cleanrooms on a turnkey basis: it designs the controlled space, buys the wall and ceiling panels, doors, air handling units, ducts, chillers, electrical panels and building management systems from other makers, ships them to the site, installs, tests and validates them, and hands over. It also earns fees for design, gap analysis and validation consulting. Almost all its work is for pharmaceutical plants, and it has completed about 200 projects in India and 15 other countries, with Ghana, Uganda, Algeria, Nigeria and Iraq among the largest markets in FY24.
The model shapes the numbers in three ways. Because it buys in most of what it installs and hires contractors for civil work, it needs little machinery, but the bought-in equipment makes revenue large against the margin it earns; management says design and build jobs earn more than jobs where it only executes someone else's design. Revenue is billed in stages and the balance only after handover, often months after the equipment is shipped, so money owed and work in progress are large and cash from operations has been negative. And with most sales abroad, a few big export projects decide each year's numbers.
Read more about the business
Much of what it buys comes from businesses linked to its promoters: HVAX Engineering and Isovax Technologies supplied 41.54% of FY24 purchases, and in May 2026 the board approved purchases and labour charges of up to ₹75 cr in FY27 from Forgex Technologies, where the company's general manager for technical consulting is a director. In March 2026 it bought 80% of Krew Instruments, a small hospital and laboratory equipment company, to enter hospital projects.
The offer document names Ahlada Engineers as the one listed company in the same line of business. It says HVAX competes with larger organised players and with unorganised firms in India and abroad, and that price is often the deciding factor in winning a project.
From the offer document (October 2024), the FY25 annual report, the earnings calls of May and November 2025, the press releases of November 2025 and March 2026 and the FY26 results filed in May 2026.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 20% in FY26.
- The promoters own a large part of the company: 66.65%.
To watch
- Whether FY27 revenue grows about 35%, as the Chairman guided in November 2025 (earnings call, November 2025, p.9).
- Collection of the ₹84.8 cr owed by customers at March 2026, and whether cash from operations turns positive (FY26 results, p.8 and p.9).
- Purchases from Forgex Technologies, approved up to ₹75 cr for FY27, and continued buying from HVAX Engineering and Isovax Technologies (FY26 results, p.2; offer document, p.30).
- Growth of Krew Instruments and the first hospital orders, which management called a direct entry into hospitals (FY26 results, p.7; earnings call, November 2025, p.6).
- Customers take longer to pay than before: 191 days in FY26, against 92 in FY20.
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.
HVAX Technologies revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew roughly in step with 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.
HVAX Technologies half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 29 | 77 | 46 | 84.66 | 60.63 | 99.57 |
| Expenses | 26 | 67 | 39 | 73.12 | 54.26 | 89.48 |
| Operating profit | 3 | 10 | 7 | 11.54 | 6.37 | 10.10 |
| OPM | 10.0% | 13.0% | 15.0% | 13.6% | 10.5% | 10.1% |
| Interest | 1 | 1 | 1 | 1.39 | 1.26 | 1.83 |
| Depreciation | 1 | 0 | 1 | 0.71 | 0.67 | 0.58 |
| Profit before tax | 1 | 10 | 5 | 9.73 | 6.61 | 12.59 |
| Net profit | 1 | 7 | 4 | 7.22 | 4.92 | 9.38 |
HVAX Technologies profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 44 | 61 | 68 | 96 | 106 | 131 | 163.87 |
| Expenses | 41 | 55 | 61 | 87 | 93 | 112 | 146.83 |
| Operating profit | 3 | 5 | 7 | 9 | 13 | 19 | 17.04 |
| OPM | 7.0% | 9.0% | 10.0% | 9.0% | 12.0% | 14.0% | 10.4% |
| Other income | 1 | 1 | 1 | 0 | 1 | 0 | 7.11 |
| Interest | 1 | 1 | 1 | 1 | 2 | 2 | 3.15 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 2 | 1.25 |
| Exceptional and other items | · | 1 | · | · | · | · | · |
| Profit before tax | 3 | 5 | 6 | 7 | 11 | 15 | 19.75 |
| Tax rate | 33.3% | 20.0% | 33.3% | 28.6% | 18.2% | 26.7% | 27.5% |
| Net profit | 2 | 4 | 4 | 5 | 9 | 11 | 14.31 |
| EPS ₹ | 30.96 | 60.30 | 67.76 | 84.29 | 125 | 39.76 | 51.53 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
HVAX Technologies profitability
Margins and returns on capitalLast year the company kept less 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
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.0% | 9.0% | 10.0% | 9.0% | 12.0% | 14.0% | 10.4% |
| Tax rate | 33.3% | 20.0% | 33.3% | 28.6% | 18.2% | 26.7% | 27.5% |
| ROCE | · | 38.4% | 38.6% | 28.4% | 29.1% | 22.0% | 20.1% |
| ROE | · | 60.4% | 41.6% | 34.2% | 37.3% | 21.4% | 18.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
HVAX Technologies debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. 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.
HVAX Technologies balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.62 | 0.62 | 0.62 | 0.62 | 0.68 | 3 | 2.78 |
| Reserves | 5 | 7 | 11 | 17 | 30 | 69 | 83.93 |
| Net worth | 5.62 | 7.62 | 11.62 | 17.62 | 30.68 | 72 | 86.70 |
| Borrowings | 11 | 7 | 10 | 17 | 24 | 28 | 40.91 |
| Other liabilities | 11.38 | 22.38 | 32.38 | 43.38 | 9.32 | 22 | 26.58 |
| Total liabilities | 28 | 37 | 54 | 78 | 64 | 122 | 154.19 |
| Fixed assets | 7 | 10 | 8 | 7 | 9 | 8 | 6.82 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 1 | 1 | 0 | 1 | 0 | 0 | 0.03 |
| Other assets | 20 | 26 | 46 | 70 | 55 | 114 | 147.34 |
| Receivables | · | · | · | · | · | · | 85.92 |
| Inventory | · | · | · | · | · | · | 41.65 |
| Cash | · | · | · | · | · | · | 9.03 |
| Trade payables | · | · | · | · | · | · | 20.94 |
HVAX Technologies cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | 2 | 8 | -1 | -4 | -12 | -22 | -14.47 |
| Cash from investing | -1 | -4 | 2 | 0 | -2 | 0 | -0.54 |
| Cash from financing | -1 | -4 | 2 | 6 | 10 | 31 | 9.77 |
| Net cash flow | 0 | 0 | 3 | 2 | -4 | 9 | -5.24 |
| Capital spending | · | · | · | · | · | · | 0.31 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 92 | 98 | 106 | 124 | 86 | 199 | 191 |
| Inventory days | 26 | 24 | 130 | 114 | 109 | 95 | 147 |
| Days payable | 92 | 77 | 74 | 53 | 32 | 72 | 74 |
| Cash conversion cycle | 25 | 45 | 162 | 184 | 162 | 222 | 265 |
| Working capital days | 7 | -8 | 1 | 10 | 67 | 146 | 164 |
HVAX Technologies peers and competitors
Listed SME companies in the same industryBy sales, HVAX Technologies is number 21 of the 58 listed SME companies in construction.
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 |
|---|---|---|---|---|---|---|
| K2 Infragen | 51 | 3.8 | 185 | 13.3 | 12.4% | 1.16 |
| Lakshya Powertech | 98 | 9.8 | 180 | 10 | 11.1% | 0.71 |
| Suntech Infra Solutions | 74 | 5.4 | 176 | 13.8 | 20.0% | 0.82 |
| Integrity Infrabuild Developers | 91 | 13.2 | 174 | 6.9 | 8.9% | 0.70 |
| Kay Cee Energy & Infra | 93 | 5.0 | 164 | 18.8 | 19.3% | 0.73 |
| HVAX Technologies | 188 | 13.1 | 164 | 14.3 | 10.4% | 0.47 |
| Current Infraprojects | 178 | 12.7 | 160 | 14.1 | 14.5% | 0.41 |
| Leapfrog Engineering Services | 288 | 14.4 | 152 | 20 | 15.0% | 0.44 |
| Oval Projects Engineering | 94 | 6.7 | 150 | 14 | 17.0% | 0.68 |
| V.L.Infraprojects | 37 | 4.4 | 150 | 8.4 | 10.8% | 0.56 |
| Pratham EPC Projects | 203 | 33.0 | 140 | 6.2 | 8.1% | 0.51 |
| Median of the 10 others | 94 | 8.3 | 162 | 13.5 | 13.4% | 0.69 |
HVAX Technologies shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
HVAX Technologies 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.
| Oct 24 | Dec 24 | Mar 25 | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 66.65% | 66.65% | 66.65% | 66.65% | 66.65% | 66.65% | 66.65% | 66.65% |
| Foreign investors (FIIs) | 9.37% | 9.35% | 9.29% | 9.17% | 9.13% | 8.96% | 8.90% | 8.90% |
| Indian institutions (DIIs) | 0.56% | 0.41% | 0.70% | 1.13% | 1.08% | 1.08% | 1.08% | 1.08% |
| HNIs (over ₹2 lakh each) | 2.51% | 3.27% | 2.88% | 2.88% | 2.95% | 3.21% | 3.21% | 4.05% |
| Small holders (up to ₹2 lakh) | 11.07% | 9.44% | 9.84% | 9.42% | 9.31% | 9.10% | 8.95% | 8.33% |
| Companies and others | 9.84% | 10.88% | 10.64% | 10.75% | 10.88% | 11.00% | 11.21% | 10.99% |
| Number of shareholders | 1,100 | 535 | 508 | 463 | 448 | 428 | 425 | 422 |
The named holders are at 30 June 2026, beside 31 March 2026, each under the group the pattern files them in.
HVAX Technologies study: the business from its own documents
Read from 9 of the company's own documentsHVAX Technologies so far
From the company's own record
- 7 Oct 2024Listed on NSE Emerge at ₹458
- 30 June 2026Promoters at 66.65%
- 7 July 2025Highest close since listing, ₹968.59
HVAX Technologies key facts from the filings
Each figure with the document it comes from
- FY26 revenue
- ₹160.2 cr
- Standalone, up 22.3% on FY25's ₹131.0 cr; profit after tax rose to ₹14.3 cr from ₹11.1 cr, helped by other income of ₹7.1 cr against ₹0.4 cr.FY26 results filed with NSE, 22 May 2026, p.7; our arithmetic
- Order book
- ₹342.6 cr
- Orders in hand in March 2026, about two years of FY26 revenue, plus a pipeline of ₹719.3 cr under discussion.Press release, 5 Mar 2026, p.2; our arithmetic
- Revenue from exports
- About 85%
- Share of revenue from projects abroad, as the CFO put it in November 2025; it was 72.51% in FY24.Earnings call, November 2025, p.11; offer document, p.141
- Pharma share of revenue
- 99.12%
- Share of FY24 revenue from pharmaceutical projects; chemicals made up the rest.Offer document, p.144
- Top ten customers
- 69.10%
- Share of FY24 revenue, down from 86.83% in FY23 and 89.46% in FY22 as more new customers came in.Offer document, p.27
Show 5 more facts
- Bought from promoter firms
- 41.54%
- Share of FY24 purchases from HVAX Engineering and Isovax Technologies, promoter group entities in a similar line of business.Offer document, p.30 and p.40
- Money owed by customers
- ₹84.8 cr
- Trade receivables at March 2026, up from ₹71.4 cr and equal to about 193 days of FY26 revenue.FY26 results filed with NSE, p.8; our arithmetic
- Cash from operations
- Minus ₹14.2 cr
- In FY26, after minus ₹21.9 cr in FY25, as inventory nearly doubled to ₹40.0 cr and receivables rose.FY26 results filed with NSE, p.8 and p.9
- Krew Instruments
- 80%
- Stake bought in March 2026 for 20,000 shares at ₹700 each, about ₹1.4 cr; management called it a small company that gives direct entry into hospitals.FY26 results filed with NSE, p.7; earnings call, November 2025, p.6; our arithmetic
- IPO raised
- ₹33.5 cr
- 7,32,000 new shares at ₹458 in October 2024, with up to ₹21.7 cr set for working capital.Offer document, p.20; our arithmetic
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In March 2026 the company said it had about ₹342.6 cr of orders in hand and a pipeline of ₹719.3 cr; in November 2025 management said it usually converts 20% to 25% of its pipeline and that the order book covers about the next two financial years. Management has said it aims to grow about 35% a year for a couple of years, and is expanding into hospitals through Krew Instruments and into the GCC, Asia Pacific and Latin America, while evaluating semiconductor and solar projects. FY26 fell short of the 35% to 40% growth it targeted.
| What management said | When | What happened |
|---|---|---|
| Revenue growth of 35% to 40% in FY26 | May 2025 call | 22.3% on standalone revenue (our arithmetic) |
| FY26 EBITDA margin above FY25's | Nov 2025 call | About 10% before other income, against about 14% in FY25 (our arithmetic) |
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.
HVAX earns money by designing and fitting out cleanrooms for medicine makers, mostly abroad, using equipment it buys in and teams it sends to site.
Its weak spots are slow collections, heavy buying from firms linked to its promoters, and reliance on a handful of export projects in a single industry.
WatchCan it set its own prices?Only partly. On design and build jobs it has more say, but the offer document says price is often the deciding factor in winning projects.
AverageHow strong is it against rivals?Its record of audit ready pharma projects in many countries helps, but larger organised players and many small firms compete for the same work.
WatchWho are its customers?Almost all are drug makers, many in African and Asian markets, and a few large projects make up much of each year.
WatchDoes it need a lot of money?Yes. It pays for equipment and shipping long before the final payment at handover, so cash keeps going out as it grows.
AverageCan it keep finding new work?Its order book and pipeline have grown and it keeps adding new customers, but it has not yet won work outside pharma at scale.
WatchDo good and bad years swing a lot?Sales so far have mostly grown, but they bunch into the half when installations finish, so a slipped shipment or handover moves results a lot.
Who runs HVAX Technologies?
Promoters, directors and officers; tap a name for the background
NSNirbhaynarayan Sudarshan SinghPromoter, Chairman and Whole-Time Director · holds 33.32%
Bachelor of Engineering (Computer Engineering) from the University of Mumbai; a co-founder with the company since 2010, with over 12 years in HVAC and cleanroom work, and provides strategic direction. Whole-Time Director for five years from 12 February 2024; the offer document lists PNX Enterprises LLP, a promoter group entity, among the other entities Nirbhaynarayan Singh is involved in.
Offer document, p.171 to 172; annual report FY25, p.7; shareholding pattern, June 2026PMPrayagdatt MishraPromoter and Managing Director · holds 33.32%
Bachelor of Engineering (Electrical) from the University of Mumbai (2001); a co-founder with the company since 2010, with more than 12 years in the industry, and leads operations, business development and client relationships. Managing Director for five years from 12 February 2024.
Offer document, p.171 to 172; annual report FY25, p.7; shareholding pattern, June 2026SKShiv Kumar MittalNon-Executive Director
Chartered accountant with over 24 years in fundraising and business planning; leads CFO Desk Services LLP, a shared CFO firm for growing companies, and is a director of Swift Technoplast and Digilife Biz Solutions. On the board since November 2023.
Offer document, p.171 to 172; annual report FY25, p.7RPRajendra Prasad KharitaChief Financial Officer (from 22 May 2026)
MMS in operations and supply chain management from K. J. Somaiya Institute of Management Studies and Research and a B.E. (Electrical) from Mumbai University, with APICS CPIM certification; over 20 years in supply chain, logistics, procurement, planning and finance at manufacturing and engineering firms. Took over from Siddharth Patel, CFO from January 2025.
FY26 results filed with NSE, p.1 and p.3; annual report FY25, p.7 and p.12ASAnandan SengundamudaliarCompany Secretary and Compliance Officer
B.Com from Gujarat University and an associate member of the Institute of Company Secretaries of India; earlier company secretary of Eagle Amravati Chikhli NH-6 PKG-II. In the role since 1 February 2024.
Offer document, p.183; annual report FY25, p.7SSSubodh Sudhakar KhamkarGeneral Manager, Technical and Consultancy
Chemical engineer with over 25 years in pharmaceutical engineering, process design and turnkey projects in India, the Middle East, South East Asia, Africa and South America; also a director of Forgex Technologies, from which the board approved purchases of up to ₹75 cr in FY27.
Annual report FY25, p.7; FY26 results filed with NSE, p.2RKRenuka Kunal BajajIndependent Director
M.Com and LLB (Professional) from the University of Rajasthan and an associate company secretary; more than nine years in corporate governance, earlier at Goblin India and now company secretary of PM Cona Industries. On the board since February 2024.
Offer document, p.171 to 172BJBrinda Jitendrakumar SoniIndependent Director
B.Com from Gujarat University and an associate company secretary; has run the firm Brinda Soni and Associates since 2021. On the board since February 2024.
Offer document, p.171 to 172HVAX Technologies 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 ₹99.6 cr (+18%), net profit ₹9.4 cr (+30%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 66.65%.
HVAX Technologies announcements
53 on record, latest first; each opens the filing on the exchange
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Shareholders meetingvoting results of Annual General Meeting held on September 25, 2025PDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 24, 2025PDF ↗
- Outcome of Board MeetingHeld on August 24, 2026 for Book Closure IntimationPDF ↗
- Record Datethat Record date for the purpose of Annual General Meeting is 17-Sep-2026PDF ↗
- Outcome of Board MeetingHeld on August 24, 2026PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Disclosure under SEBI Takeover Regulationsof Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011PDF ↗
- Structural Digital DatabaseSDD Certificate - 31.03.2026PDF ↗
- Change in ManagementAppointment of Internal Auditors and Secretarial AuditorsPDF ↗
- AppointmentOf Mr Mr. Rajendra Prasad Kharita as Chief Financial Officer of the company w.e.f. May 22, 2026PDF ↗
- Outcome of Board Meeting, the financial results for the period ended March 31, 2026PDF ↗
HVAX Technologies annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- 7 Oct 2024 ↗read
- 30 Nov 2025 ↗read
- 31 May 2025 ↗read
- 30 Sept 2025 ↗read
HVAX Technologies 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 HVAX Technologies' data · 9
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 (27,76,875 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- !The two half-years of FY26 add up to ₹160.2 cr of sales against ₹163.9 cr for the full year; both are shown as reported.
- !Earnings per share changes basis between FY24 (₹125.00) and FY25 (₹39.76) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about HVAX Technologies
What does HVAX Technologies do?
HVAX Technologies designs and builds clean, dust free rooms and the air handling systems inside them for medicine factories, mostly in Africa, Asia and the Middle East, and has started on hospitals. Its shares trade on NSE Emerge.
What is the share price of HVAX Technologies?
₹677 at the close on 5 Nov 2026, from the exchange's daily figures.
What is the market cap of HVAX Technologies?
₹188 cr at the close on 5 Nov 2026, on 27,76,875 shares.
What is the P/E of HVAX Technologies?
13.1 times FY26 profit at the close on 5 Nov 2026 (our arithmetic).
What are HVAX Technologies' revenue and profit?
Revenue ₹164 cr and profit after tax ₹14 cr in FY26.
Who are the promoters of HVAX Technologies?
Nirbhaynarayan Sudarshan Singh, Prayagdatt Mishra; promoters held 66.65% at 30 June 2026.
What was the IPO price of HVAX Technologies?
₹458 a share; it listed on 7 Oct 2024.
What is HVAX Technologies' website?
www.hvax.in
More SME companies like HVAX Technologies
Other listed SME companies in construction, the closest in size first, each read from its own documents.
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- Pratham EPC ProjectsPRATHAM · NSE Emerge · Construction · listed 2024Market cap ₹200 cr
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Every listed SME company in Construction → · SME companies listed in 2024 →
Built from 2 earnings call transcripts, 2 annual reports, 2 press releases, 1 offer document, 1 result filing, 1 investor presentation, 53 exchange announcements, 8 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.