Hella India Lighting Ltd
Forvia Hella's Indian lighting arm, delisted from BSE in 2015 and now subject to an NCLT scheme to buy out minorities at ₹1,039 — dealers quote ₹870.
Market cap
₹1,203 Cr
1.46 Cr shares
P/E ratio
222.57
Sector average 35
Book value
₹82.55
P/B 9.98
1-year return
+0.00%
52w ₹824 – ₹870
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹824 → ₹824
52-week band in this window: ₹823.50 – ₹823.50. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Forvia Hella subsidiary since 1959; plants at Derabassi and Dhankot; delisted from BSE in April 2015.
- NCLT-approved scheme to cancel 5,52,313 minority shares at ₹1,039.17 each, funded by a ₹54.45 Cr allotment to the parent in August 2023.
- Altius quote ₹777 bid / ₹870 ask; latest revenue about ₹198 Cr and profit about ₹5.5 Cr.
About Hella India Lighting
Hella India Lighting Limited (HILL) was incorporated on 4 September 1959 in Delhi and is the Indian automotive-lighting subsidiary of the German Hella group (now Forvia Hella). It makes headlamps, signal lamps, LED and adaptive lighting, switches and blinkers for two-wheeler, passenger and commercial-vehicle OEMs and the aftermarket, from plants at Derabassi (Punjab) and Dhankot near Gurugram.
The shares were listed on BSE until a voluntary delisting effective 30 April 2015 at an exit price of ₹52.39. In August 2023 the company allotted 5,52,313 shares at ₹986 each (₹54.45 Cr) to Hella Holding International GmbH to fund an NCLT-approved composite scheme under which the remaining 5,52,313 minority shares are to be cancelled against a payment of ₹1,039.17 a share.
Registry summaries show revenue of about ₹198 Cr and net profit of ₹5.47 Cr for the latest year, on a paid-up capital of ₹14.61 Cr (1.46 Cr shares of ₹10); the promoter holds roughly 96%. The dealer price therefore trades as a discount to the scheme consideration rather than on earnings — at ₹870 the implied market value is about ₹1,270 Cr, over 200 times profit.
Figures preliminary; verify from MCA filings. Line items are estimates around the disclosed revenue and profit; the status of the capital-reduction scheme must be confirmed before any trade.
Where the revenue comes from
- OEM lighting60%
Headlamps, tail lamps, signal lamps and LED modules supplied to vehicle makers
- Aftermarket lighting & accessories30%
Replacement lamps, auxiliary lights, switches and blinkers through distributors
- Electronics & other10%
Switches, sensors and vehicle electronics
Products & services
OEM lighting
Headlamps, tail and signal lamps, LED and adaptive lighting systems for vehicle makers.
Aftermarket
Replacement and auxiliary lamps, work lights and accessories through independent distributors.
Switches & electronics
Blinkers, switches and vehicle electronics.
What works
- • Wholly backed by Forvia Hella with group technology in LED, adaptive and smart lighting and modernised plants at Derabassi and Dhankot.
- • An NCLT-sanctioned exit consideration of ₹1,039.17 a share sits above the ₹870 dealer quote, capping downside if the scheme completes on those terms.
- • OEM plus aftermarket sales spread across two-wheelers, cars and commercial vehicles.
What to watch
- • The composite scheme cancels minority shares: a buyer today is buying a claim on ₹1,039.17 per share, and timing, tax treatment and any legal challenge to the valuation are uncertain.
- • On fundamentals the stock is very expensive — about ₹1,270 Cr of market value on ₹5.5 Cr of profit.
- • Post-scheme there will be no public float at all; the shares will cease to exist for minority holders.
- • Delisted since 2015 — no exchange price, and dealer quotes range from ₹777 (bid) to over ₹1,000 across platforms.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Hella India LightingThis page | ₹823.50 | ₹1,203 Cr | 222.57 | 9.98 | +6.37% |
| Carrier India | ₹538.00 | ₹5,724 Cr | 37.91 | 11.03 | +14.71% |
Latest reported year: FY25 ending 31 Mar 2025.