Haz.Multi Proj. (532467)

FairStock Score: 45/100 — MIXED

Score breakdown: P/E: 1/3 · ROCE: 1/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

Strengths

• ROCE of 14.11% indicates the existing capital base is being used reasonably efficiently.
• Piotroski F-Score of 6/9 suggests the company is not in acute financial distress and shows some fundamental improvement.
• Profit growth of 137.50% and a PEG of 0.21 create a growth story, if the earnings are sustainable.
• A dividend yield of 1.24% provides at least a modest cash return to shareholders.

Concerns

• P/B of 22.34 against an ROE of 5.33% means investors are paying a huge premium for very weak return on equity.
• Sales declined 15.67%, so the reported profit jump is not backed by growing top-line demand.
• Latest quarter annualized earnings power of roughly ₹24 crore is minuscule relative to the ₹7,578 crore market cap; the gap with the stated P/E needs explanation.
• The 52-week range of ₹22.45 to ₹359.25 reflects extreme speculative price action rather than steady fundamentals.

AI Analysis

The first thing that catches my eye is the price journey: from ₹22.45 to ₹359.25 in fifty-two weeks. That alone makes me uneasy, because in investing, a 1,500% move usually sells hope, not proven compounding. The market now asks me to pay ₹7,578 crore for a business with a book value of ₹16.08 per share and an ROE of only 5.33%. Paying 22.34 times book for a business that earns barely 5% on that book is a Graham contradiction. Even the stated P/E of 28.89 is not cheap for a company whose sales fell 15.67%. Yes, reported profit grew 137.50%, and the PEG ratio of 0.21 looks tempting. But the latest quarter shows only ₹6 crore net profit on ₹139 crore sales. Annualize that and you get roughly ₹24 crore of earnings power—a far cry from the earnings level implied by a ₹7,578 crore market cap. That gap forces me to ask whether the trailing profit includes a non-recurring gain or whether this is a re-rating built on speculation. ROCE of 14.11% is respectable, and a Piotroski score of 6/9 hints that the balance sheet is not under acute stress. The dividend yield of 1.24% is a small comfort, not a reason to buy. I do not need extraordinary price action; I need understandable businesses earning high returns on tangible capital. This one earns a thin return on an enormously revalued price. The burden of proof is on management to demonstrate that the 137.50% profit growth is repeatable, cash-backed, and driven by real operations. Until that evidence appears, I would classify this as a speculative event, not a value investment.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer