Hind Rectifiers, a leading player in India’s power electronics and railway traction equipment space, has had a 197% year-on-year growth in profit after tax (PAT) in the financial year ended 31 March 2025. PAT was INR 37.1 crore in FY25, up from INR 12.5 crore in FY24, due to strong operating leverage, enhanced product portfolio and execution efficiency.

For the fourth quarter (Q4FY25), PAT was nearly double at INR 10 crore, a 96% YoY growth, compared to INR 5.1 crore in the same quarter last year. This was driven by 22% growth in total income to INR 185.4 crore and 46% growth in EBITDA to INR 20.2 crore. EBITDA margin improved by 180 bps to 10.9%, due to cost efficiencies and better pricing realization.

Notably, ace investor Mukul Agrawal holds 2,50,000 shares (1.5% stake in the company) worth INR 23.5 crore.