Key Metrics of Hazel Infra Limited
About Hazel Infra Limited
Company details
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 17 Jul 2026 | ICRA | Assigned | BBB | A3+ | Stable | ₹75.0 Cr | View |
Credit strengths (ICRA, Jul 2026)
+ Healthy order book position provides revenue visibility over medium term
The company has secured multiple large shipbuilding contracts over the last one year, resulting in an outstanding order book of approximately USD 500 million as on www.icra.in Sensitivity Label : Public Page |1 date, providing strong revenue visibility over the medium term.
+ Healthy capital structure and comfortable liquidity at group level
The capital structure at the group level remains healthy, characterised by low reliance on external debt.
+ Positive demand outlook for shipbuilding services
SDHIL operates in different segments such as shipbuilding, ship repair, and fabrication.
Credit challenges
− Execution and ramp -up risk
Although the company has secured multiple orders, the shipbuilding segment remains nascent .
− Vulnerable to raw material price fluctuations, industry cyclicality and regulatory changes
SDHIL’s business profile remains exposed to raw material price fluctuations, cyclicality in the global shipbuilding industry and regulatory changes.
Could lead to an upgrade
Ratings could be upgraded if the company demonstrates a sustained ramp-up in operations through successful execution of its existing order book, healthy accretion of fresh orders and improvement in profitability and debt coverage metrics, while maintaining an adequate
Could lead to a downgrade
The ratings may be downgraded if there are significant delays in order execution, resulting in weaker profitability and cash flows, or if the company's capital structure and debt protection metrics weaken. A deterioration in the parent’s credit profile could also trigger a rating downgrade.
Agency-reported financials (ICRA, 17 Jul 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹10.70 Cr | ₹427 Cr |
| PAT | ₹-,194.40 Cr | ₹146 Cr |
| OPBDIT/OI | -974.8% | -38.7% |
| PAT/OI | -1,814.6% | 34.3% |
| Total outside liabilities/Tangible net worth (times) | 1.90× | 1.70× |
| Total debt/OPBDIT (times) | -18.50× | -13.60× |
| Interest coverage (times) | -2.70× | -2.40× |
| Revenue growth (YoY) | — | 3,886.9% |
| EBITDA (margin × income) | ₹-,104.30 Cr | ₹-,165.09 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | — | — |
| Implied interest cost (EBITDA ÷ coverage) | — | — |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Unallocated limits | Other | — | ₹75.0 Cr | — | BBB / A3+ (Stable) | Assigned | ICRA |
Credit assessment · Construction (EPC contractors)
ICRA Rating Methodology – Construction (Oct 2024) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 49% |
| Information on file | 56% · missing: Annual results history (3+ years), Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 49% chance the next rating action is stable or better
- Current rating BBB (investment grade)
- Interest coverage -2.4×
- ₹75 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Further, SDHIL has availed a term debt through a long-tenor facility with ballooning repayments structure spread over 10 years which has enhanced debt-servicing flexibility.
From the report
SDHIL has availed term loan facility recently, with modest repayments over the initial years that gradually step up over time, with in the final repayment in FY2037.
From the report
Further, the liquidity remains comfortable at the group level with combined cash and cash equivalents/liquid investments of ~Rs. 1,394.95 crore as March 31, 2026, moderate repayment obligations and no major capex plans at the group level over medium term.
From the report
Liquidity position: Adequate The liquidity of the company is adequate, supported by cash and cash equivalents of ~Rs. 1,036.78 crore (including Rs. 742.15 crore in free cash and cash equivalent and liquid investment) as on March 31, 2026, which are sufficient to meet the nominal debt repayment obligations of Rs. 2.3 crore in FY2027 as well as the expected moderate capex requirements during the year.
From the report
Liquidity position: Adequate The liquidity of the company is adequate, supported by cash and cash equivalents of ~Rs. 1,036.78 crore (including Rs. 742.15 crore in free cash and cash equivalent and liquid investment) as on March 31, 2026, which are sufficient to meet the nominal debt repayment obligations of Rs. 2.3 crore in FY2027 as well as the expected moderate capex requirements during the year.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.