Arthneeti

United Heat Transfer Q4 FY26 Share Price & Earnings Call Analysis

₹178.50-4.93% today
Market cap
₹339 Cr
P/E
67.71
ROE
8.21%
PEG
2.03
Price to sales
4.66
Debt to equity
0.30
52W high / low
₹234 / ₹44.0
Sales growth (5Y)
17.05%
EBITDA margin
14.39%
Net profit margin
6.89%
Promoter holding
58.61%
Sales (last year)
₹73 Cr

Incorporated in January 1995, United Heat Transfers Limited manufactures essential equipment such as heat exchangers, pressure vessels, and process flow skids.[1]

Guidance scorecard · Q4 FY26 call

What United Heat's management guided
and where it ranks in Industrial Products

#35of 100 in
Industrial Products
Revenue20–40%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ4 FY26 call

20–40%
  • The company is aiming for reasonable growth in the next 8–10 months, expecting FY27 sales to be better than FY26.
  • Anticipated revenue growth is around 30-35% for the coming financial year.
  • Growth drivers include increased penetration in data center cooling, export market expansion, and opportunities in oil and gas sectors.
  • Defence and shipbuilding sectors are expected to grow but at a slower pace compared to data centers and clean energy.
  • The company is extending its shop floor by 50,000 sq ft to remove bottlenecks and accommodate higher order volumes.

2 more points from United Heat's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Up 0–2%

See what United Heat said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • United Heat Transfer Ltd is currently in the process of extending their shop floor by an additional 50,000 square feet to remove space constraints and bottlenecks.
  • The extension will also address height requirements for air-cooled exchangers that the existing floor cannot accommodate.
  • They plan to upgrade some machinery by adding automated or semi-automated equipment to improve manufacturing processes.

2 more points from United Heat's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what United Heat said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Rising
  • Current order book is approximately INR 36-37 crores.
  • Pipeline includes both standard and custom orders, with ongoing discussions and inquiries in sectors like data centers (Vertiv), coal gasification, nuclear projects, and defense.
  • Vertiv trial order is small (INR 10-20 lakhs) but expected to open potential business of INR 10-20 crores annually in future.
  • Approval timelines and order conversion for new clients like Vertiv and nuclear OEM partners extend over months due to stringent quality norms.

2 more points from United Heat's call on the order book

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Full Q4 FY26 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does United Heat rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹448 Cr17.9
240%+Up 2%+₹413 Cr12.0
340%+Up 2%+₹324 Cr22.7
440%+Up 0–2%₹1,496 Cr32.8
540%+Up 0–2%₹1,079 Cr12.7
640%+Flat₹827 Cr21.4

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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of United Heat

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of United Heat

Quarterly Results

Quarter-by-quarter operating performance

No quarterly results data available for this company yet.

Financials of United Heat

Profit & Loss

Annual income statement trend

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +36.8233.1047.5569.6060.0366.5272.88
Expenses +32.7529.0341.3861.8250.0455.1362.42
Operating Profit4.074.076.177.789.9911.3910.46
OPM %11.05%12.30%12.98%11.18%16.64%17.12%14.35%
Other Income +0.160.180.150.443.901.071.00
Interest1.121.362.963.924.203.372.61
Depreciation0.840.891.211.481.831.972.06
Profit before tax2.272.002.152.827.867.126.79
Tax %27.75%25.00%28.84%24.82%20.61%25.56%26.22%
Net Profit +1.641.501.532.126.245.305.01
EPS in Rs2.792.64
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Financials of United Heat

Balance Sheet

Capital structure and asset base

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital4.254.254.254.2512.7519.0019.00
Reserves4.746.257.779.897.6939.5244.53
Borrowings +9.5731.2837.6232.9636.9217.8318.90
Other Liabilities +4.857.7012.9917.7113.1611.5811.62
Total Liabilities23.4149.4862.6364.8170.5287.9394.05
Fixed Assets +0.000.0023.7624.5534.6134.9535.90
CWIP0.0015.2010.6311.240.980.984.30
Investments0.000.001.711.591.721.992.66
Other Assets +23.4134.2826.5327.4333.2150.0151.19
Total Assets23.4149.4862.6364.8170.5287.9394.05

Financials of United Heat

Cash Flows

Operating, investing and financing cash movement

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +3.250.002.417.643.27-6.83
Cash from Investing Activity +-0.36-21.67-5.13-2.76-1.75-2.58
Cash from Financing Activity +-2.1721.653.64-5.20-2.109.50
Net Cash Flow0.72-0.020.92-0.32-0.570.09
Free Cash Flow3.10-21.44-2.014.761.63-9.13
CFO/OP95%13%49%107%33%-60%

Financials of United Heat

Ratios

Working capital efficiency and return ratios

Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days62.9576.0960.3338.3480.02102.1183.94
Inventory Days87.02141.55213.41134.88152.08257.58263.11
Days Payable45.3992.76147.34104.8368.1755.4562.98
Cash Conversion Cycle104.58124.87126.4068.39163.93304.24284.06
Working Capital Days83.37110.8219.277.7611.55155.45127.26
ROCE %11.14%11.53%13.95%16.16%15.69%11.84%

Guidance history

How United Heat's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →20–40%Up 0–2%Planned—Rising
Q4 FY26 call →20–40%Up 0–2%Planned—Rising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Continue your research

What United Heat's management said in earlier quarters

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