Incorporated in April 1997, HD Fire Protect Limited is an Indian manufacturer and supplier of fire protection equipment and systems, offering water, foam and gas-based fire suppression solutions. The Company offers …
Incorporated in April 1997, HD Fire Protect Limited is an Indian manufacturer and supplier of fire protection equipment and systems, offering water, foam and gas-based fire suppression solutions. The Company offers a comprehensive portfolio across eight product categories, including sprinklers, alarm valves and accessories, deluge valves and systems, foam equipment and suppression systems, monitors and nozzles, water spray nozzles, custom-engineered systems and gas suppression systems. Its products cater to industrial, residential and commercial applications, including oil and gas, refining and petrochemicals, power and energy, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality, healthcare and other sectors. The Company develops a majority of its products in-house and focuses on proprietary designs meeting national and international standards.The Company has over three decades of experience and has established a global presence, with exports to more than 90 countries since inception and 49 countries during the three months ended June 30, 2026. It was the first Indian fire protection equipment manufacturer to receive UL Listing for deluge valves in 1996 and the first Indian manufacturer to receive FM approval for a range of low-expansion foam system products. As of September 2026, it had 21 UL Listed and 87 FM Approved product certifications. The Company operates two manufacturing facilities in Jalgaon and Thane, Maharashtra, covering approximately 8.50 acres, supported by a fire test laboratory and R&D capabilities.The Company has supplied fire protection equipment and systems to 2,066 customers in Fiscal 2026 and has supplied products for major projects including the Samruddhi Mahamarg, Jamnagar refinery, new Indian Parliament building, Saudi Aramco's Ras Tanura Sea Island site and Oman's Integrated Power & Water Plant Project. Revenue from operations increased from ₹3,729.53 million in Fiscal 2024 to ₹4,892.81 million in Fiscal 2026, representing a CAGR of 14.54%, while its order book stood at ₹1,586.01 million as of June 30, 2026.As of June 30, 2026, the Company had 279 permanent employees and 253 contractual employees.Competitive StrengthsStrong product certification and quality track record.Advanced design, manufacturing and R&D capabilities.Experienced management team and qualified personnel.Comprehensive fire protection equipment and systems portfolio.Track record of profitability and consistent financial performance.Strong and diversified customer base with long-standing global relationships.Well-established global presence in a certification-driven, high-barrier industry.
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HD Fire Protect Ltd IPO About the Company
Incorporated in April 1997, HD Fire Protect Limited is an Indian manufacturer and supplier of fire protection equipment and systems, offering water, foam and gas-based fire suppression solutions. The Company offers a comprehensive portfolio across eight product categories, including sprinklers, alarm valves and accessories, deluge valves and systems, foam equipment and suppression systems, monitors and nozzles, water spray nozzles, custom-engineered systems and gas suppression systems. Its products cater to industrial, residential and commercial applications, including oil and gas, refining and petrochemicals, power and energy, heavy engineering, aerospace, pharmaceuticals, data centres, hospitality, healthcare and other sectors. The Company develops a majority of its products in-house and focuses on proprietary designs meeting national and international standards.The Company has over three decades of experience and has established a global presence, with exports to more than 90 countries since inception and 49 countries during the three months ended June 30, 2026. It was the first Indian fire protection equipment manufacturer to receive UL Listing for deluge valves in 1996 and the first Indian manufacturer to receive FM approval for a range of low-expansion foam system products. As of September 2026, it had 21 UL Listed and 87 FM Approved product certifications. The Company operates two manufacturing facilities in Jalgaon and Thane, Maharashtra, covering approximately 8.50 acres, supported by a fire test laboratory and R&D capabilities.The Company has supplied fire protection equipment and systems to 2,066 customers in Fiscal 2026 and has supplied products for major projects including the Samruddhi Mahamarg, Jamnagar refinery, new Indian Parliament building, Saudi Aramco's Ras Tanura Sea Island site and Oman's Integrated Power & Water Plant Project. Revenue from operations increased from ₹3,729.53 million in Fiscal 2024 to ₹4,892.81 million in Fiscal 2026, representing a CAGR of 14.54%, while its order book stood at ₹1,586.01 million as of June 30, 2026.As of June 30, 2026, the Company had 279 permanent employees and 253 contractual employees.Competitive StrengthsStrong product certification and quality track record.Advanced design, manufacturing and R&D capabilities.Experienced management team and qualified personnel.Comprehensive fire protection equipment and systems portfolio.Track record of profitability and consistent financial performance.Strong and diversified customer base with long-standing global relationships.Well-established global presence in a certification-driven, high-barrier industry.
HD Fire Protect Ltd IPO Analysis
Pros
ROE of 6.13% indicates good return on equity.
ROCE of 8.36% shows efficient capital usage.
PAT margin of 20.92%.
Cons
Detailed analysis available after listing.
Pros and cons are machine generated. Please exercise caution and do your own analysis.
HD Fire Protect Ltd IPO Subscription Status
Consolidated figures
16.56× overall
Metric
QIB
NII (HNI)
Retail
Total
Subscription
1.49×
48.77×
11.43×
16.56×
Shares
52,42,673
39,32,004
91,74,677
1,84,20,492
Bids
78,23,310
19,17,68,390
10,48,71,800
30,50,31,705
▼ Category-wise Detailed Breakdown
Category
Subscription
Offered
Bid Shares
Amt (₹ Cr)
QIB
1.49×
52,42,673
78,23,310
₹212.01
NII (HNI)
48.77×
39,32,004
19,17,68,390
₹5,196.92
Retail
11.43×
91,74,677
10,48,71,800
₹2,842.03
Market Maker
1.00×
—
—
—
Total
16.56×
1,84,20,492
30,50,31,705
₹8,250.96 Cr
Applications: -Total Bid Amount: ₹8,250.96 Cr
HD Fire Protect Ltd IPO Profit & Loss
Figures in ₹ Crores / Amount in Rs Cr
Metric
Jun 30, 2026
31 Mar 2026
31 Mar 2025
Revenue
114.07
505.12
450.68
EBITDA
29.73
150.46
138.01
Profit After Tax
23.87
116.79
109.72
Net Worth
—
375.93
396.01
Total Assets
477.60
432.03
450.08
Reserves
309.93
286.07
302.59
Sales Growth
3 Years:
295.1%
Latest:
450.68 Cr
Profit Growth
3 Years:
359.7%
Latest PAT:
109.72 Cr
Return on Equity
ROE:
6.13%
ROCE:
8.36%
HD Fire Protect Ltd IPO Key Financial Ratios
Profitability
ROE6.13%
ROCE8.36%
RONW5.97%
PAT Margin20.92%
EBITDA Margin27.26%
Valuation
Pre EPS6.66
Post EPS5.45
Pre P/E40.69×
Post P/E49.72×
Leverage & Growth
Sales Growth (3yr)+295.1%
Profit Growth (3yr)+359.7%
Latest Revenue450.68 Cr
Latest PAT109.72 Cr
HD Fire Protect Ltd IPO Schedule & Important Dates
IPO Open
2026-10-13
Done ✓
IPO Close
2026-10-15
Upcoming
Allotment
2026-10-16
Upcoming
Refund
2026-10-19
Upcoming
Demat Credit
2026-10-19
Upcoming
Listing
2026-10-21
Upcoming
HD Fire Protect Ltd IPO Lot Size & Investment Details