Yuvraaj Hygiene Products Limited

Consumer Defensive — Household & Personal Products · BSE

₹8.96−₹0.04 (−0.44%)

DalalBaazaar Score

67 / 100

🟢 Good

Verdict

NEUTRAL

Risk

High

Driven by high debt relative to equity, negative free cash flow, micro-cap size, which brings thin liquidity.

In simple words: Strong business and financial position, with both sales and profits growing well. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:02 pm

Understanding the Business

Company site ↗

The 60-second version of Yuvraaj Hygiene Products Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Yuvraaj Hygiene Products Limited manufactures and supplies hygiene and cleaning products in India. It operates through Household Cleaning Products; Warehousing Storage Products; and Insecticide Products segments.

IndustryHousehold & Personal Products

SectorConsumer Defensive

Employees40

Annual revenue₹39 Cr

How does it make money?

Turns over ₹39 Cr a year. Of every ₹100 of sales, about ₹9 reaches shareholders as profit, with ₹15 left at the operating level before interest, tax and depreciation. Each of its 40 employees supports ₹96.8 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹96.8 lakh

Who are its competitors?

The closest listed comparisons in its industry are HINDUSTAN UNILEVER LTD., DABUR INDIA LTD, ITC LTD, BRITANNIA INDUSTRIES LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Some evidence

ROCE of 22.6% is above what capital typically costs, which suggests some pricing power, though not yet the sustained, wide gap that marks a durable advantage.

Peer median ROE27.4%

What has been driving growth?

Profit has moved mainly because margins changed, not because the business sold much more. Over 3 years revenue moved +100% while net margin moved -240% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+100%

Margin effect-240%

DalalBaazaar Score

67/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of 0.57 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ High leverage magnifies any downturn in earnings
✗ Profits have swung sharply from year to year — earnings are hard to forecast
✗ Negative free cash flow means dependence on external funding

Quality vs. Valuation

Company Quality

74/ 100

Good

How good the business is, ignoring the share price entirely.

Valuation

60/ 100

Fair

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

17.9x

1.3Y Median

17.6x

16 monthly readings · mean 17.2x · range 5.9x–27.1x

Sector Median

38.6x

median of 4 sector peers

🟡Currently trading close to its 1.3y median of 17.6x — the market is paying about what it usually pays for this company.

🟢Against its sector it trades 54% below the peer median of 38.6x.

vs. its own history

Fair

17.6x median over 16 months · +2%

vs. sector peers

Cheap

38.6x median of 4 peers · -54%

vs. generic bands

Fair

15x–35x

EV/EBITDA

16.3x

PEG

—

What's Good / What's Bad

🟢 What's Going Well3

Margins are improving
EBITDA margin is up from -0.3% to 14.6% over 3 years.
Return on capital is rising
ROCE has improved from -16.7% to 22.6%.
High return on capital employed
ROCE of 22.6% is the mark of a business that converts capital into profit efficiently.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

5 items require attention · 4 high · 1 watch

🔴Debt has risen sharplyFinancial
Total debt is up 73% over 3 years, from ₹7 Cr to ₹12 Cr.
🔴High leverageFinancial
Debt/Equity of 2.73x — earnings must service borrowings before shareholders see anything.
🔴Receivables growing faster than salesFinancial
Receivables up 350% against revenue up 100% — sales are being booked faster than they are collected.
🔴Inventory building faster than salesFinancial
Inventory up 230% against revenue up 100% — stock may not be moving.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹5 Cr in the latest year.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Capital compounds at a high rate
ROCE of 22.6% means each rupee reinvested earns well above what capital costs. If the company can keep deploying at this rate, growth creates value rather than just consuming cash.
Margin expansion has further to run
EBITDA margin has risen from -0.3% to 14.6%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Cheaper than its peers
It trades 54% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

Leverage amplifies any setback
Debt/Equity of 2.73x. Interest is payable whether or not the business has a good year.
Sales are being booked faster than collected
Receivables are up 350% against revenue up 100%. If customers keep taking longer to pay, reported profit will not turn into cash — and write-offs follow if some never do.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
4 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 20% a year✓ 26.1% CAGR
Latest reported year was 113.5%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 13%✓ 14.6%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Debt / EBITDA stays below 2x✗ 2.2x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
4Free cash flow remains positive✗ -₹5 Cr
Profit that never becomes cash eventually stops being profit.
5ROCE stays above 20%✓ 22.6%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

8 / 11 checks passed

✓ Strong return on equity (ROE ≥ 15%)
✓ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Short-term technical trend isn't bearish

Price history

Quick Metrics

5 good · 3 neutral · 3 weak

Market Cap

₹81 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

17.9x

Fair

Fairly valued against the generic band

P/B Ratio

17.67x

Rich

Steep premium to book — needs high, durable returns to justify

EPS (TTM)

₹0.5

Profitable

Profitable on a per-share basis

ROE

74.0%

Strong

Strong capital efficiency

ROCE

22.6%

Strong

Earns comfortably above its likely cost of capital

Debt/Equity

2.73x

High

High leverage

Revenue Growth (YoY)

113.5%

Healthy

Healthy top-line growth

Profit Growth (YoY)

162.5%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹5 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

13.7%

Average

Average margins

Net Margin

9.6%

Average

Average bottom-line conversion

Current Ratio

2.38

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.57

Defensive

Steadier than the market

52W Range Position

39%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

9.0 / 9.0

Bullish alignment (short > long)

Price vs SMA 200

Above

Long-term uptrend

RSI (14)

55.9

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹19 Cr	₹19 Cr	₹46 Cr	₹39 Cr	+26.1%
EBITDA	-₹0 Cr	₹1 Cr	₹7 Cr	₹6 Cr	—
EBITDA Margin	-0.3%	2.8%	15.4%	14.6%	—
PAT (Net Profit)	-₹1 Cr	-₹0 Cr	₹6 Cr	₹3 Cr	—
EPS	₹-0.13	₹-0.04	₹0.65	₹0.37	—
ROE	—	—	474.9%	74.0%	—
ROCE	-16.7%	2.9%	71.9%	22.6%	—
Total Debt	₹7 Cr	₹8 Cr	₹7 Cr	₹12 Cr	+20.1%
Free Cash Flow	₹0 Cr	-₹0 Cr	₹3 Cr	-₹5 Cr	—

🟢 Revenue has grown at 26.1% a year over 3 years.

🟢 EBITDA has turned positive, from -₹0 Cr to ₹6 Cr.

🟢 EBITDA Margin has risen from -0.3% to 14.6% over 3 years (+15.0 pts).

🟢 PAT (Net Profit) has turned positive, from -₹1 Cr to ₹3 Cr.

🟢 EPS has turned positive, from ₹-0.13 to ₹0.37.

🔴 ROE has fallen from 474.9% to 74.0% over 3 years (-400.8 pts).

🟢 ROCE has risen from -16.7% to 22.6% over 3 years (+39.2 pts).

🔴 Total Debt has grown at 20.1% a year over 3 years.

🔴 Free Cash Flow has turned negative, from ₹0 Cr to -₹5 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹25 Cr

Total Liabilities

₹20 Cr

Cash & Equivalents

₹1 Cr

Operating Cash Flow

-₹3 Cr

Capex

-₹2 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

69.5%

Peer Comparison

Company	P/E	ROE
HINDUSTAN UNILEVER LTD.	42.5x	21.5%
DABUR INDIA LTD	34.7x	17.2%
ITC LTD	16.6x	27.4%
BRITANNIA INDUSTRIES LTD	44.1x	51.0%

Recent News

1 mixed5 general

YUVRAAJ HYGIENE PRODUCTS LTD. Share Price - Live YUVRAAJHPL Stock Price & Chart

Upstox, 05 May

Yuvraaj Hygiene Product Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 30 Aug

Yuvraaj Hygiene Products Ltd is Rated Sell

MarketsMojo, 09 Oct

Yuvraaj Hygiene Product Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 31 Aug

Yuvraaj Hygiene Products Reports Q3FY26 Results with Total Income of ₹903.11 Lakhs

scanx.trade, 13 FebResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Multibagger penny stock: Yuvraaj Hygiene Products hits 52-week high, soars over 500% in 4 years. Do you own?

Livemint, 31 Dec

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongBusiness Quality · Growth · Profitability

MiddlingFinancial Health · Valuation

WeakRisk

Points for each in the Score ↑

Good business at a fair price

A sound business at a reasonable valuation. Suitable for a long-term holding, with the valuation and the direction of margins worth watching rather than the business itself. 4 high-severity red flags sit above this conclusion and should be read first.

2 of 5 tripwires tripped — Debt / EBITDA stays below 2x; Free cash flow remains positive · see Key things to watch ↑