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Hicks Thermometers India Limited Unlisted Shares
DRHP Status : Not Filed
1785
Fundamentals About Hicks Thermometers India Limited
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Key Financials of Hicks Thermometers India Limited
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 69 | 91 | 45 | 61 |
| Cost of Material Consumed | 41 | 41 | 22 | 37 |
| Change in Inventory | -5 | 3 | 2 | 2 |
| Gross Margins | 40.58 | 54.95 | 51.11 | 39.34 |
| Employee Benefit Expenses | 4 | 6 | 5 | 4 |
| Other Expenses | 21 | 31 | 13 | 14 |
| EBITDA | 8 | 10 | 3 | 4 |
| OPM | 11.59 | 10.99 | 6.67 | 6.56 |
| Other Income | 0.5 | 0.1 | 0.8 | 1.35 |
| Finance Cost | 0 | 0 | 0.4 | 0.42 |
| D&A | 0 | 0 | 0.3 | 0.39 |
| EBIT | 8 | 10 | 2.7 | 3.61 |
| EBIT Margins | 11.59 | 10.99 | 6 | 5.92 |
| PBT | 7 | 10 | 3 | 3.31 |
| PBT Margins | 10.14 | 10.99 | 6.67 | 5.43 |
| Tax | 2 | 2 | 0.7 | 0.87 |
| PAT | 5 | 8 | 2.3 | 2.44 |
| NPM | 7.25 | 8.79 | 5.11 | 4 |
| EPS | 166.67 | 266.67 | 71.88 | 76.25 |
Financial Ratios |
2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | 11.59 | 10.99 | 6.67 | 6.56 |
| Net Profit Margin | 7.25 | 8.79 | 5.11 | 4 |
| Earning Per Share (Diluted) | 166.67 | 266.67 | 71.88 | 76.25 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | 1.6 | 2 | 2.6 | 2 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 1 | 2.4 | 3.5 |
| Trade Receivables | 6 | 7 | 7 | 8 |
| Inventory | 14 | 12 | 9 | 7 |
| Other Assets | 11.4 | 19 | 19 | 20.5 |
| Total Assets | 33 | 41 | 40 | 41 |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | 0.3 | 0.3 | 0.32 | 0.32 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 22 | 29 | 32 | 34 |
| Borrowings | 4 | 4 | 4.5 | 4 |
| Trade Payables | 6 | 6 | 2.5 | 2 |
| Other Liabilities | 0.7 | 1.7 | 0.68 | 0.68 |
| Total Liabilities | 33 | 41 | 40 | 41 |
About Company
Hicks Thermometers India Limited (est. 1961) is a premier, ISO 9001:2008 certified unlisted public company based in Aligarh, Uttar Pradesh, specializing in medical diagnostic instruments, primarily thermometers. As a trusted household name for over 60 years, it produces a wide range of products including digital BP monitors, oximeters, and surgical items, with a distribution network of over 3,000 dealers
The following table shows a 10-point analysis of Hicks Thermometers India Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue ₹73.62 cr PAT ₹3.52 cr Net margin 4–5% |
Established Indian manufacturer of thermometers and healthcare products with a long operating history and a wide distribution network across India. |
| Industry & Market Position | 60+ years legacy 1500+ distributors |
Strong brand recall in clinical thermometers and home healthcare devices; presence across pharmacies, hospitals, and healthcare retailers nationwide. |
| Revenue Growth Trend | FY24 revenue ₹61.93 cr → FY25 ₹73.62 cr | Revenue growth supported by demand for healthcare diagnostics and consumer medical products. |
| Profitability & Margins | Operating margin 6.9% Net margin 4.7% |
Stable profitability driven by product diversification and cost discipline in manufacturing and distribution. |
| Cash Flow Quality | Positive operating cash flow in FY24 | Healthy liquidity with operational cash generation supporting working capital needs. |
| Balance Sheet Strength | Moderate borrowings with stable net worth | Conservative capital structure and gradual debt repayment reflect prudent financial management. |
| Valuation Comfort | Active unlisted market trading | Interest from investors due to legacy brand and consistent demand for healthcare devices. |
| Management & Governance | Promoter-driven management | Long operating track record with stable leadership guiding product development and market expansion. |
| Growth Triggers & Catalysts | Expansion of diagnostic product portfolio | Rising healthcare awareness and demand for home diagnostic devices support long-term growth prospects. |
| Liquidity & Exit Visibility | Unlisted equity OTC transactions |
Liquidity available in the unlisted market; potential long-term listing could provide an exit opportunity. |
Company Overview
(i) Hicks Thermometers India Limited is an Indian manufacturer of thermometers, diagnostic instruments, and healthcare products, incorporated in 1961 and headquartered in Aligarh, Uttar Pradesh.
(ii) The company manufactures and markets thermometers, blood pressure monitors, diagnostic devices, and home healthcare products, serving hospitals, pharmacies, and individual consumers.
(iii) Hicks has developed a large nationwide distribution network, with more than 1,500 distributors and several regional offices, enabling wide market penetration across India.
(iv) Over time, the company expanded beyond thermometers into multiple healthcare categories including rehabilitation supports, diagnostic devices, and medical accessories.
(v) The business operates in the medical instruments and healthcare devices segment, producing a variety of consumer and professional healthcare products.
Challenges in Hicks Thermometers’ Business
- Dependence on domestic healthcare market: A significant portion of the company’s revenue is derived from the Indian market, which makes it sensitive to domestic demand cycles and healthcare spending trends.
- Competitive healthcare devices market: The diagnostic equipment segment has multiple manufacturers and distributors, leading to pricing pressure and margin constraints.
- Operational scale limitations: Despite a long operating history, the company operates at a relatively moderate revenue scale compared to large medical device manufacturers.
Financial Review of Hicks Thermometers India Limited
Here are some highlights of the financial performance of Hicks Thermometers India Limited over the past few years.
FY25 Performance
• Total income reached ₹73.62 crore.
• Net profit improved to ₹3.52 crore.
• EPS increased to ₹127.81.
• Operating margin stood around 6.9%, reflecting better efficiency.
FY24 Performance
• Total income stood at ₹61.93 crore.
• Net profit reported at ₹2.45 crore.
• Operating cash flow was about ₹2.94 crore.
• Cash balance remained strong at ₹18.63 crore at year end.
FY23 Performance
• Revenue from operations recorded around ₹45.22 crore.
• Net profit stood at ₹2.11 crore.
• Profitability remained positive despite revenue moderation.
• Stable asset base helped maintain operational stability.
Quick Summary
Hicks Thermometers India Limited is a long-standing Indian healthcare products manufacturer with a strong brand legacy and nationwide distribution. The company’s diversified diagnostic and home healthcare portfolio supports steady demand, while operational efficiency and product expansion remain key growth drivers.
Click Here to visit the official website of Hicks Thermometers India Limited.
Promoters of Hicks Thermometers India Limited
The following are the active promoters / leadership associated with the company:
| Name | Designation | LinkedIn Profile |
|---|---|---|
| Yatharth Gupta | Director | View Profile |
| Ranjana Bansal | Director | - |
| Sher Singh | Director | - |
Shareholding Pattern of Hicks Thermometers India Limited
| Name | Holding |
|---|---|
| Hari Prakash Gupta | 26.51% |
| Siddharth Gupta | 28.23% |
| Kusum Gupta | 11.34% |
| Hari Prakash Gupta (HUF) | 7.99% |
| Nitika Gupta | 6.35% |
| Others | 19.58% |
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Frequently Asked Questions
Hicks Thermometers India Limited unlisted shares are equity shares of Hicks Thermometers India Limited that are not traded on NSE or BSE and are available through private market platforms.
Yes, investors can buy Hicks Thermometers India Limited unlisted shares through private market intermediaries after completing KYC and demat requirements.
Investment in Hicks Thermometers India Limited unlisted shares depends on the company’s financial performance, market demand for healthcare devices, and liquidity conditions in the unlisted market.
Yes, a valid demat account is required to hold Hicks Thermometers India Limited unlisted shares.
Yes, Hicks Thermometers India Limited unlisted shares can be sold in the private market before a potential IPO, subject to buyer availability.
If Hicks Thermometers India Limited gets listed in the future, pre-IPO investors may be subject to a six-month lock-in period as per SEBI regulations.
If Hicks Thermometers India Limited unlisted shares are held for more than two years, gains are taxed at 20% with indexation. If sold earlier, gains are taxed as short-term capital gains as per the investor’s income slab.
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