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HILTON - Hilton Met.Forg.

📊 NSE: HILTON 🏢 Castings & Forgings 📅 Last Updated: 12/13/2025 22:55

📢 Recent Corporate Announcements

Hilton Metal Forging Extends Rights Issue Closing Date to April 02, 2026

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 13 Mar 2026, 11:36 AM

Hilton Metal Forging Limited has extended the closing date of its ongoing Rights Issue from March 13, 2026, to April 02, 2026. The company is offering 1,67,70,000 equity shares at a price of Rs. 1,668 per share to existing shareholders. The entitlement ratio is set at 29 shares for every 60 shares held. While the subscription period is extended, the trading of Rights Entitlements (REs) on the exchanges remains suspended as per the original schedule.

Rights Issue closing date extended by 20 days to April 02, 2026
Issue involves 1,67,70,000 equity shares at a fixed price of Rs. 1,668 per share
Rights entitlement ratio is 29:60 (29 shares for every 60 shares held)
Trading in Rights Entitlements (REs) will not be extended and remains suspended
The issue originally opened on March 06, 2026

💡 Eligible shareholders who intended to participate but missed the earlier deadline now have until April 02 to subscribe. Investors should compare the current market price with the issue price of Rs. 1,668 before making a decision.

Hilton Metal Forging to Increase Authorized Share Capital to Rs 85 Crore; EGM on March 26

🔵 WATCH ⭐ 6/10

FUNDRAISE 📅 02 Mar 2026, 04:00 PM

Hilton Metal Forging Limited has called for an Extraordinary General Meeting (EGM) on March 26, 2026, to seek shareholder approval for a significant increase in its authorized share capital. The proposal aims to raise the capital limit from Rs 55 crore to Rs 85 crore, representing a 54.5% increase in the authorized ceiling. This move is a standard precursor to future equity-based fundraising activities, such as a rights issue, bonus issue, or preferential allotment. Shareholders registered as of the cut-off date of March 18, 2026, will be eligible to vote on this resolution.

Proposed increase in authorized share capital from Rs 55 crore to Rs 85 crore
Total equity shares to increase from 5.5 crore to 8.5 crore with a face value of Rs 10 each
Extraordinary General Meeting (EGM) scheduled for March 26, 2026, via Video Conferencing
Cut-off date for voting eligibility is March 18, 2026, with remote e-voting starting March 23
Amendment of Clause V of the Memorandum of Association to reflect the new capital structure

💡 Investors should watch for follow-up announcements regarding specific fundraising plans or expansion projects that this capital increase is intended to support. While the increase itself is a procedural step, it signals potential equity dilution or growth-oriented capital expenditure in the near future.

Hilton Metal Forging Approves ₹27.97 Cr Rights Issue at ₹16.68 Per Share; Ratio 29:60

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 28 Feb 2026, 06:44 PM

Hilton Metal Forging Limited has approved the final terms for its rights issue to raise approximately ₹27.97 crores. The company will issue up to 1,67,70,000 equity shares at a price of ₹16.68 per share, including a premium of ₹6.68. Eligible shareholders as of the record date, February 24, 2026, can subscribe in a ratio of 29 shares for every 60 shares held. The subscription window is scheduled to open on March 6 and close on March 13, 2026.

Total fundraise of up to ₹2,797.24 Lakhs through 1,67,70,000 equity shares.
Rights entitlement ratio fixed at 29 equity shares for every 60 shares held.
Issue price set at ₹16.68 per share, which is 1.67 times the face value.
Issue period scheduled from March 6, 2026, to March 13, 2026.
Last date for on-market renunciation of rights entitlements is March 10, 2026.

💡 Eligible shareholders should compare the rights issue price of ₹16.68 with the current market price to decide between subscribing or renouncing their rights. Investors who do not wish to subscribe should sell their rights entitlements on the exchange before March 10 to avoid value dilution.

Hilton Metal Q3 PAT Surges 211% YoY to ₹1.41 Cr; 9M Profit Doubles to ₹3.31 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 26 Feb 2026, 06:16 PM

Hilton Metal Forging reported a robust YoY performance for Q3 FY26, with revenue rising 73% to ₹69.84 crore. Net profit witnessed a sharp increase of 211% YoY, reaching ₹1.41 crore compared to ₹0.45 crore in the previous year. For the nine-month period ending December 2025, the company recorded a PAT of ₹3.31 crore, effectively doubling the ₹1.65 crore earned in the same period last year. Despite the strong YoY growth, there was a sequential decline in revenue and profit compared to Q2 FY26.

Revenue from operations grew 73.3% YoY to ₹69.84 crore from ₹40.29 crore in Q3 FY25
Net Profit (PAT) surged 211% YoY to ₹1.41 crore against ₹0.45 crore in the year-ago period
Nine-month revenue reached ₹179.53 crore, already surpassing the full-year FY25 revenue of ₹163.05 crore
Earnings Per Share (EPS) for the quarter increased significantly to ₹0.61 from ₹0.19 YoY
Total expenses for the quarter stood at ₹68.80 crore, with raw material costs accounting for ₹65.12 crore

💡 The company exhibits strong growth momentum with 9-month profits already exceeding the previous full year's performance. Long-term investors should focus on the significant YoY expansion, though the sequential dip suggests monitoring for operational volatility.

Hilton Metal Forging Sets Feb 24 as Record Date for 29:60 Rights Issue

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 18 Feb 2026, 10:27 PM

Hilton Metal Forging Limited has officially fixed February 24, 2026, as the record date for its upcoming Rights Issue. Eligible shareholders will be entitled to receive 29 new equity shares for every 60 fully paid-up equity shares held as of the record date. This corporate action is part of the company's capital raising strategy and will lead to an expansion of the equity base. Investors should note that the record date determines who receives the rights entitlements in their demat accounts.

Record date for the Rights Issue is Tuesday, February 24, 2026
Rights entitlement ratio is 29 shares for every 60 shares held
The issue is conducted under Regulation 42 of SEBI (LODR) Regulations, 2015
The move will result in equity dilution for shareholders who do not subscribe to the rights

💡 Existing shareholders should check the rights issue price once announced to determine if it is at a discount to the market price. If you wish to participate, ensure you hold the shares before the ex-date to be eligible for the 29:60 entitlement.

Hilton Metal Forging to Raise Rs 27.97 Cr via Rights Issue; Ratio 29:60

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 18 Feb 2026, 10:26 PM

Hilton Metal Forging Limited has approved a Rights Issue of 1,67,70,000 equity shares at a price of Rs 16.68 per share. The total fundraise is valued at approximately Rs 27.97 crore to support the company's capital requirements. The board has fixed February 24, 2026, as the record date for determining eligibility. Existing shareholders will be entitled to 29 new shares for every 60 shares they hold, leading to significant equity dilution.

Issue price of Rs 16.68 per share includes a premium of Rs 6.68 over face value
Rights entitlement ratio set at 29 shares for every 60 shares held as of Feb 24, 2026
Total equity shares to increase from 3.47 crore to 5.15 crore assuming full subscription
Authorized share capital increased from Rs 55 crore to Rs 85 crore to accommodate the issue
Full payment of Rs 16.68 per share is required at the time of application

💡 Investors should compare the issue price of Rs 16.68 with the current market price to assess the attractiveness of the offer before the record date of February 24.

Hilton Metal Forging Approves Q3 FY26 Standalone Financial Results

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 14 Feb 2026, 05:59 PM

Hilton Metal Forging Limited has officially approved its standalone financial results for the quarter ended December 31, 2025. The Board of Directors met on February 14, 2026, to review the performance and the Limited Review Report. The meeting was conducted efficiently, lasting approximately 45 minutes. Investors should now look for the detailed financial statements to evaluate the company's operational margins and revenue growth for the period.

Board approved standalone financial results for the quarter ended December 31, 2025
The Board Meeting commenced at 5:00 P.M. and concluded at 5:45 P.M. on February 14, 2026
Limited Review Report for the third quarter was reviewed and taken on record
Compliance maintained under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

💡 Investors should review the detailed profit and loss statements once fully published to assess the company's growth trajectory. Compare the Q3 performance against previous quarters to determine if the company is maintaining its margins in the forging sector.

Hilton Metal Forging Approves ₹28 Crore Fundraise via Rights Issue

🔵 WATCH ⭐ 7/10

FUNDRAISE 📅 04 Feb 2026, 06:12 PM

The Board of Directors of Hilton Metal Forging Limited has approved a proposal to raise capital up to ₹28 crores through the issuance of equity shares on a rights basis. The shares will have a face value of ₹10 each and will be offered to eligible shareholders as of a record date to be announced later. The company has also approved the Draft Letter of Offer and the appointment of intermediaries for the process. Specific details regarding the issue price and entitlement ratio are yet to be determined by the Board.

Fundraising approved for an aggregate amount not exceeding ₹28,00,00,000 (₹28 Crores).
Issuance will be conducted via a Rights Issue to existing eligible shareholders.
Equity shares to be issued have a face value of ₹10 per share.
Board has approved the Draft Letter of Offer and appointment of various intermediaries.
Critical terms like issue price, rights ratio, and record date will be finalized in due course.

💡 Investors should monitor future announcements regarding the rights entitlement ratio and issue price to evaluate the potential dilution and the attractiveness of the offer price compared to the market price.

Hilton Metal Forging Allots 1.13 Cr Equity Shares via Rights Issue, Raising Rs 31.99 Cr

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 14 Jan 2026, 04:44 PM

Hilton Metal Forging Limited has successfully completed the allotment of 1,12,96,551 equity shares under its Rights Issue. The shares were issued at a price of Rs. 28.32 per share, including a premium of Rs. 18.32, aggregating to a total fundraise of approximately Rs. 31.99 crore. This move has expanded the company's paid-up equity share capital from Rs. 23.40 crore to Rs. 34.70 crore. The allotment follows the terms set in the Letter of Offer dated December 20, 2025.

Allotted 1,12,96,551 fully paid-up equity shares at an issue price of Rs. 28.32 per share
Total capital raised through the Rights Issue amounts to Rs. 31,99,18,324.32
Post-issue paid-up equity share capital increased to 3,46,96,551 shares from 2,34,00,000 shares
The issue price includes a face value of Rs. 10.00 and a premium of Rs. 18.32 per share
Allotment finalized in consultation with Purva Sharegistry (India) Private Limited and BSE Limited

💡 Investors should track the company's utilization of these funds for growth or debt reduction, while noting the equity dilution resulting from the increased share count.

Hilton Metal Forging Allots 1.13 Cr Shares via Rights Issue, Raising Rs 31.99 Cr

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 14 Jan 2026, 04:39 PM

Hilton Metal Forging Limited has finalized the allotment of 1,12,96,551 equity shares following its Rights Issue. The shares were issued at a price of Rs. 28.32 per share, including a premium of Rs. 18.32, resulting in a total fundraise of approximately Rs. 31.99 crore. This allotment has increased the company's total paid-up equity share capital from 2.34 crore shares to 3.47 crore shares. This capital infusion strengthens the company's financial position but leads to significant equity dilution.

Allotted 1,12,96,551 fully paid-up equity shares at an issue price of Rs. 28.32 per share.
Total capital raised through the Rights Issue amounts to Rs. 31,99,18,324.32.
Paid-up equity share capital increased from Rs. 23.40 crore to Rs. 34.70 crore.
The issue price included a premium of Rs. 18.32 over the face value of Rs. 10 per share.

💡 Investors should note the significant equity dilution of approximately 48% and monitor how the company utilizes the Rs. 32 crore for future growth or debt reduction. The impact on Earnings Per Share (EPS) will likely be visible in the upcoming quarters.

Hilton Metal Forging Announces ₹31.99 Crore Rights Issue at ₹28.32 per Share

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 31 Dec 2025, 09:46 PM

Hilton Metal Forging Limited has issued a pre-issue advertisement for its upcoming rights issue aimed at raising approximately ₹31.99 crore. The company will issue 1,12,96,551 equity shares at a price of ₹28.32 per share, which includes a premium of ₹18.32. Shareholders as of the record date, December 26, 2025, are eligible to participate in a ratio of 14:29. This capital infusion is intended to support the company's financial requirements as outlined in the Letter of Offer.

Total issue size of 1,12,96,551 equity shares aggregating to ₹31,99,18,524.32
Rights issue price fixed at ₹28.32 per share (Face Value ₹10 + Premium ₹18.32)
Rights entitlement ratio set at 14 shares for every 29 equity shares held
Record date for eligibility was Friday, December 26, 2025
Pre-issue advertisements published in Financial Express, Jansatta, and Pratahkal on December 31, 2025

💡 Existing shareholders should evaluate the rights price against the current market price to decide on exercising their rights or trading their entitlements. Investors not participating will face a dilution of their shareholding percentage.

Hilton Metal Forging Announces Trading Window Closure from January 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Dec 2025, 06:05 PM

Hilton Metal Forging Limited has notified the exchanges regarding the closure of its trading window starting January 1, 2026. This measure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming declaration of Unaudited Financial Results for the quarter ended December 31, 2025. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. This is a standard regulatory procedure for listed companies ahead of earnings announcements.

Trading window closure commences on January 1, 2026.
Closure is for the purpose of declaring Unaudited Financial Results for the quarter ended December 31, 2025.
The window will reopen 48 hours after the financial results are officially announced.
Applies to all Insiders, Designated Persons, and their immediate relatives as per SEBI norms.

💡 This is a routine regulatory announcement with no direct impact on the company's valuation. Investors should monitor the company's upcoming Q3 results for actual performance indicators.

Hilton Metal Forging Revises Rights Issue Schedule; Opening Jan 05, 2026

🟡 NEUTRAL ⭐ 6/10

FUNDRAISE 📅 22 Dec 2025, 11:53 PM

Hilton Metal Forging Limited has announced a revised schedule for its upcoming rights issue following a board meeting on December 22, 2025. The rights issue is now scheduled to open on January 05, 2026, and will conclude on January 12, 2026. The on-market renunciation period is set for January 05 to January 07, 2026, while off-market renunciation ends on January 09, 2026. All other terms previously approved on December 20, 2025, remain unchanged.

Rights Issue opening date rescheduled to Monday, January 05, 2026
Rights Issue closing date set for Monday, January 12, 2026
On-market renunciation period window is from January 05 to January 07, 2026
Off-market renunciation period ends on Friday, January 09, 2026

💡 Existing shareholders should mark the revised dates to ensure they apply for the rights or renounce them within the shortened three-day on-market window. Investors should review the final Letter of Offer for pricing and entitlement ratios before the opening date.

Hilton Metal Forging to Raise Rs 32 Crore via Rights Issue at Rs 28.32 per Share

🟡 NEUTRAL ⭐ 7/10

FUNDRAISE 📅 21 Dec 2025, 05:53 PM

Hilton Metal Forging Limited has announced a rights issue to raise approximately Rs 31.99 crore. The company will issue 1.13 crore equity shares at a price of Rs 28.32 per share to existing shareholders. The entitlement ratio is fixed at 14:29, meaning 14 new shares for every 29 shares held as of the record date, December 26, 2025. This capital infusion will increase the total outstanding shares by approximately 48% upon full subscription.

Rights issue ratio set at 14 equity shares for every 29 shares held by eligible shareholders.
Issue price fixed at Rs 28.32 per share, aiming to raise a total of Rs 31,99,18,324.
Record date for eligibility is December 26, 2025, with the issue opening on January 5, 2026.
The rights issue closing date is revised to January 12, 2026, with renunciation ending January 9.
Total equity base to expand from 2.34 crore shares to 3.47 crore shares post-issue.

💡 Investors should compare the issue price of Rs 28.32 with the current market price to decide on subscribing or renouncing their rights before the January 9 deadline.

Hilton Metal Forging Announces ₹31.99 Cr Rights Issue at ₹28.32 per Share; Ratio 14:29

🔵 WATCH ⭐ 8/10

FUNDRAISE 📅 20 Dec 2025, 11:58 PM

Hilton Metal Forging Limited has approved a Rights Issue to raise approximately ₹31.99 crore by issuing 1,12,96,551 equity shares. The issue is priced at ₹28.32 per share, which represents the total cost including premium for eligible shareholders. The board has set the entitlement ratio at 14 shares for every 29 shares held as of the record date, December 26, 2025. The subscription period will run from January 5 to January 11, 2026, with the on-market renunciation period ending on January 8, 2026.

Total issue size of ₹31,99,18,324.32 through the issuance of 1,12,96,551 equity shares.
Rights entitlement ratio fixed at 14:29 (14 new shares for every 29 held).
Issue price set at ₹28.32 per share with the record date fixed for December 26, 2025.
Rights issue period scheduled from January 5, 2026, to January 11, 2026.
Total outstanding shares to increase from 2.34 crore to 3.47 crore post-issue, assuming full subscription.

💡 Investors should compare the rights issue price of ₹28.32 with the current market price to determine the attractiveness of the offer. Those wishing to participate must ensure they hold shares by the record date of December 26, 2025.

View All HILTON Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: Manufacturing of Steel Forgings. Total revenue grew by 20.25% YoY, reaching INR 168.22 Cr in FY25 compared to INR 139.88 Cr in FY24. This growth was primarily driven by increased domestic demand for railway and automotive components.

Geographic Revenue Split

Not explicitly disclosed by percentage, but the company exports to the USA, Europe, Mexico, Canada, and Australia, while noting that recent growth in FY25 was driven by demand within India.

Profitability Margins

Profitability margins have seen a downward trend. Net Profit Margin (NPM) declined from 4.78% in FY24 to 3.67% in FY25. This compression is attributed to higher material and employee overheads which outpaced revenue growth.

EBITDA Margin

Operating Profit Margin (PBILDT) deteriorated from 11.83% in FY24 to 9.14% in FY25. The absolute PBILDT fell by 7.08% from INR 16.54 Cr to INR 15.37 Cr despite the increase in total revenue.

Capital Expenditure

Not disclosed in absolute INR Cr for future periods, though the company is focusing on a Rights Issue to raise capital for operational and debt requirements.

Credit Rating & Borrowing

The company's credit rating was downgraded to 'CARE D; ISSUER NOT COOPERATING' in September 2025, indicating a state of default. Previously, it was rated CARE C (Stable) in July 2024. Borrowing costs are impacted by a Debt Service Coverage Ratio (DSCR) which weakened from 1.99x to 1.85x YoY.

⚙️ Operational Drivers

Raw Materials

Stainless-steel, Nickel Alloy, and Iron & Steel products. Specific percentage of total cost per material is not disclosed, but total operating expenses and provisions rose 23.92% to INR 152.85 Cr in FY25.

Import Sources

Not specifically disclosed, though the company notes the replacement market for railway wheels is heavily dependent on imports.

Capacity Expansion

Current installed capacity is 14,400 MTPA at the Wada, Thane facility. No specific planned expansion figures in MTPA were provided, though the company is targeting a 20% improvement in per-employee productivity.

Raw Material Costs

Raw material costs are a significant portion of the INR 152.85 Cr operating expenses. The company aims to reduce raw material consumption by 10% to 15% through better material utilization to offset rising input prices.

Manufacturing Efficiency

The company is targeting average forging facility up-times at maximum and a 30% reduction in per-piece labor costs to improve overall manufacturing competitiveness.

📈 Strategic Growth

Expected Growth Rate

17.79%

Growth Strategy

The company plans to achieve growth by penetrating the railway replacement market, where it claims a clear edge over imports. It has developed 5 types of Forged Wagon Wheels and Railway Wheel Set Assemblies for Indian Railways. Additionally, the company is pursuing a Rights Issue to strengthen its balance sheet and fund these new product lines.

Products & Services

Stainless-steel forged flanges, allied pipe fitting items, Butt Weld Fittings, Railway Wheels, Gear Blanks, Forged Crankshafts, Annealed Nickel Alloy rings, and Valve Body bonnets.

Brand Portfolio

Hilton Metal Forging Limited (HMFL).

New Products/Services

Forged Wagon Wheels and Railway Wheel Set Assemblies. These are expected to contribute significantly as they pass field trials with Indian Railways.

Market Expansion

Targeting the domestic Indian railway sector and private wagon manufacturers to reduce reliance on the fragmented and competitive international forging market.

Strategic Alliances

Technical compatibility tests for railway products are conducted in coordination with RITES and Indian Railways.

🌍 External Factors

Industry Trends

The forging industry is evolving toward higher precision and specialized components like railway wheels. HMFL is positioning itself to move away from commodity flanges toward high-value railway assemblies to counter the 10-15% margin pressure seen in fragmented segments.

Competitive Landscape

Highly competitive with a large number of players and low product differentiation, leading to liberal credit policies and thin margins.

Competitive Moat

The company's moat is based on its 20+ years of promoter experience and its status as a government-recognized export house. However, this moat is currently weakened by liquidity issues and a default credit rating, which threatens the sustainability of operations.

Macro Economic Sensitivity

Highly sensitive to industrial CAPEX cycles in the oil & gas and railway sectors. A slowdown in infrastructure spending would directly reduce demand for flanges and fittings.

Consumer Behavior

Shift in Indian Railways toward domestic procurement for wagon wheels provides a significant demand tailwind for local manufacturers like HMFL.

Geopolitical Risks

Trade barriers or economic shifts in the USA and Europe could impact the export-heavy revenue base, which currently serves distributors in those regions.

⚖️ Regulatory & Governance

Industry Regulations

Operations must comply with Indian Railways' technical standards (RITES) for fracture and technical compatibility. It also adheres to the Companies Act 2013 and SEBI Listing Regulations, though it has faced procedural delays in board meetings.

Environmental Compliance

The company aims for zero harmful gas combustion products and the elimination of aerosol emissions within its plants.

Taxation Policy Impact

The effective tax provision for FY25 was a credit of INR 7.87 Lakhs, compared to a tax expense of INR 117.94 Lakhs in FY24.

Legal Contingencies

Not disclosed in available documents, though the company has faced 'Issuer Not Cooperating' actions from credit agencies due to failure to provide monitoring information.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the company's ability to service debt, given its CARE D rating and stretched liquidity. A failure to complete the Rights Issue could lead to a 100% cessation of growth initiatives.