Key Metrics of Highco Engineers Private Limited
About Highco Engineers Private Limited
Company details
- Registered office
- G-07 & G-08, 1st Phase Adityapur Industrial Area, Seraikela, Jamshedpur, In-jh, 832109
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.
Sign in to continue See plans & pricingFiling compliance
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
WatchLiquidity assessed as Stretched
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | ICRA | Reaffirmed | BB+ | A4+ | Stable | ₹51.0 Cr | View |
Credit strengths (ICRA, Sep 2026)
+ Extensive experience of promoters in sheet metal components manufacturing
The business was started in 1979, and it was converted into a private limited company in 2003.
+ Long relationships with reputed clients lead to consistent repeat orders
HEPL benefits from its long-standing relationships with TML and its several JVs, including Tata Hitachi Construction Machinery Co.
+ Strong technical competencies
The company has evolved its manufacturing processes over the years through capital - intensive robotic processes along with several advanced presses and laser cutting machines.
Credit challenges
− Limited cushion in working capital limits and high debt repayment constraining financial flexibility
HEPL’s financial flexibility remains constrained by the limited cushion in its working capital facilities and sizeable scheduled debt repayment obligations over the medium term.
Could lead to an upgrade
ICRA could upgrade HEPL’s ratings if the company demonstrates a sustained improvement in its revenue and earnings, leading to strengthening of net worth, debt coverage metrics and
Could lead to a downgrade
Pressure on the ratings will arise if there is a significant decline in the revenues and earnings or any further debt-funded capex, resulting in weakening of the
Agency-reported financials (ICRA, 29 Sep 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income (OI) | ₹169 Cr | ₹169 Cr |
| PAT | ₹4.00 Cr | ₹2.90 Cr |
| OPBDIT/OI | 8.7% | 7.8% |
| PAT/OI | 2.3% | 1.7% |
| Total outside liabilities/Tangible net worth (times) | 2.10× | 2.30× |
| Total debt/OPBDIT (times) | 3.30× | 4.30× |
| Interest coverage (times) | 2.80× | 2.30× |
| Revenue growth (YoY) | — | 0.1% |
| EBITDA (margin × income) | ₹14.70 Cr | ₹13.19 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹48.51 Cr | ₹56.72 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹5.25 Cr | ₹5.73 Cr |
Borrowings & rated debt
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term – Fund-based – Cash credit | Working capital & bank lines | ₹23.5 Cr | ₹23.5 Cr | 0.0% | BB+ (Stable) | Reaffirmed | ICRA |
| Long term – Fund-based – Term loan | Term loans | ₹21.2 Cr | ₹27.5 Cr | 29.5% | BB+ (Stable) | Reaffirmed | ICRA |
| Long term/Short term – Unallocated | Working capital & bank lines | ₹6.27 Cr | ₹1.00 L | −99.8% | BB+ / A4+ (Stable) | Other | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | Term loans FY | Term loans | 8.20% | — | 31 Mar 2029 | ₹27.5 Cr | BB+ | Outstanding |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · 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) | 38% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, 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: 37% chance the next rating action is stable or better
- Current rating BB+ (below investment grade)
- Interest coverage 2.3×
- Working-capital limits 94% utilised on average
- ₹0.01 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
The average utilisation of the fund -based working capital limit continued to be high at around 94% of the available drawing power during the last 12 months, indicating a limited liquidity cushion to absorb any adverse movement in working capital requirements or delays in receivable realisation s.
From the report
Susceptibility to cyclicality in the automobile industry– Highco derives the major portion of its revenues from the automotive sector, mainly the medium commercial vehicle (MCV) segment, exposing it to competitive pressure andthe inherent cyclicality of the industry. www.icra.in Sensitivity Label : Public Page |2 Liquidity position: Stretched The liquidity position of HEPL is expected to be Stretched, primarily on account of high utilisation of its sanctioned working capital limits of Rs. 30 crore during the 12-month period ending in August 2026, indicating limited financial flexibility to mee
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.