• ROFR Required
  • Available in Depository:

  • NSDL

  • CDSL

  • Available for Investment:

  • Primary

  • Secondary




Business Type

Traditional Business




Business Type

Traditional Business

Discover and get analyzed report on Hira Ferro Alloys share Price & IPO date before you will go to buy & sell Hira Ferro Alloys unlisted shares here. you will get all latest information on financial report of Hira Ferro company after reading live research report.



Face Value


Total Share


Total Income

₹31,697.39 L

Profit After Tax

₹2,113.73 L







Market Capitalisation

₹372.18 Cr

Enterprise Value

₹401.70 Cr

Book Value


Intrinsic Value


Earnings Yield

5.68 %




Iron & Steel



Cashflow - Operations

-₹1,468.86 L

Cashflow - Financing

-₹141.39 L

Hira Ferro Alloys Growth

Compounded Sales Growth

  • 4.21%

    1 Year

  • 9.27%

    5 Year

  • 0.76%

    9 Year

Pro Only

Compounded Profit Growth

  • 452.16%

    1 Year

  • 17.82%

    9 Year

Pro Only

Return On Equity

  • 11.59%


  • 2.35%


  • 3.10%


Pro Only

About Hira Ferro Alloys

  • Hira Ferro Alloys Ltd. (HFAL) has created its identity as a manufacturer of Ferro Alloys, Power, Briquette and Fly Ash Bricks. Hira Ferro Alloys Limited manufactures and sells ferro alloys, briquette, and fly ash bricks in India. It operates through Ferro alloys, Power, and Trading of Goods segment. The company offers manganese based ferro alloys, which are used in steel making and refining activities. It is also involved in the generation of electricity. The company’s power generation capacity includes 20 MW of thermal; 8.5 MW of the biomass; and 1.5 MW of windmill energy. 
  • This company is based in Urla, Chhattisgarh. It was established in 1990 with 5.0 MVA (SAF) to produce 7200 TPA equivalent of Silicomanganese. Its Installed capacity is 26.6 MVA equivalents of 61500 TPA of Ferromanganese while power generation capacity is 20MW for thermal, 8.5 MW for the biomass base plant and 1.5MW for windmill energy that makes one third of the green energy produced. 
  • HFAL is a certified ISO 9001:2008, ISO 14001:2004, OHSAS 18001:2007 company, which is a venture by one of the prime steel manufacturing groups, The Hira Group of industries. The Hira Group started the production of Ferro Alloys through small electric furnace route and expanded its process by establishing Hira Ferro Alloys Ltd. It later installed two steel rolling mills followed by sponge iron and power plants as well as a coal beneficiation unit. Soon it ventured into high definition integrated iron, steel manufacturing plants and power generating units.
  • Hira Ferro Alloys Limited was incorporated in 1984 and is based in Raipur, India. Hira Ferro Alloys Ltd. operates as a subsidiary of Godawari Power & Ispat Limited.

  • Hira Ferro Alloys IPO Details

The Board of Directors of HFAL had stepped forward for voluntary delisting of 19588500 equity shares of 10/-each fully paid up from BSE Limited (BSE) and Madhya Pradesh Stock Exchange Limited (MPSE) on 8th February, 2014. Currently, the company is not planning to raise funds through IPO.

  • Hira Ferro Alloys Merger & Acquisition


  • On 21st March 2022, Godawari Power & Ispat Limited signed a share purchase agreement to acquire an additional 19.2% stake in Hira Ferro Alloys Ltd. from HIRA Infra-Tek Limited for Rs. 99.78 Cr. As part of the transaction, Godawari Power & Ispat will acquire 4,454,621 equity shares at a price of Rs. 224 per share, totalling Rs. 99.78 Cr. Post completion, Godawari Power & Ispat's holding in Hira Ferro Alloys will increase from 56.45% to 75.66% stake.
  • on July 27, 2021, Godawari Power & Ispat Limited agreed to acquire an additional 8% stake in Hira Ferro Alloys Ltd. for approximately Rs. 70.20 Cr. The consideration was paid in cash. The proceeds from the transaction will be used to finance the 70 MW Solar Power Plant in Rajnandgaon, Chhattisgarh. This transaction features minority shareholder increasing ownership stake in the Hira Ferro Alloys. 
  • On March 31, 2016, Vinay Buildcon Private Limited acquired 2.81% stake in Hira Ferro Alloys Ltd. from Godawari Power & Ispat Ltd. for Rs. 1.76 Cr. Godawari Power sold 5.5 lakhs shares of Hira Ferro Alloys at a price per share of Rs. 32. Following the completion of the deal, Godawari Power & Ispat holds 48.5% stake in Hira Ferro Alloys.
  • On May 15, 2014, Hira Infratek Pvt Ltd made a delisting offer to acquire 27.56% stake in Hira Ferro Alloys Ltd. for approximately Rs. 12 Cr. As of May 15, 2014, The Board is ready to accept offer at Rs. 21.5 per share. Post transaction, Hira Infratek and the promoters will hold 100% stake in Hira Ferro Alloys and will delist the company.
  • On April 5, 2011, Hira Ferro Alloys Ltd. signed a definitive agreement to acquire 8.5 MW Bio-Mass Power Plant situated at Village Belsonda, Dist Mahasamund, Chhattisgarh from M/s Shivalik Power and Steel Pvt Ltd. for Rs. 10 lakhs.
  • On March 4, 2008,Hira Industries Ltd. made an offer to acquire an additional 20% stake in Hira Ferro Alloys Ltd. for Rs. 9.40 Cr. in cash . Hira Industries will pay Rs. 120 per Hira Ferro Alloys share and will acquire 7.8 lakhs Hira Ferro Alloys shares. Upon completion of the acquisition Hira Industries will own a 40.11% stake in Hira Ferro Alloys.
  • On February 22, 2008, Hira Industries Ltd. acquired an additional 19.27% stake in Hira Ferro Alloys Ltd. from ETP Corporation Limited for Rs. 5.28 Cr. in cash. Hira Industries acquired 7.6 lakhs Hira Ferro Alloys shares at Rs. 70 per Hira Ferro Alloys share.


  • On 17th March, 2021, the company has acquired 20% equity stake in Xtratrust Digisign Private Limited (Xtratrust) as a result of which this company has become associate of the company. Xtratrust has been incorporated with an object of entering into the business of providing Digital Signatures.
  • On 25th February, 2021, the company has acquired 100% equity stake in Spring Solar Power Private Limited (Spring Solar) as a result of which this company has become wholly owned subsidiary of the company. Spring Solar has been incorporated with an object of setting up of Solar Power Plant.
  • Hira Ferro Alloys Subsidiaries

Associate company

  • Xtratrust Digisign Private Limited

Subsidiary company

  • Spring Solar Power Private Limited

Hira Ferro Alloys Business Model

  • Hira Ferro Alloys primarily operates as a ferro alloy manufacturer, which mostly includes the production of bulk alloys, mainly ferromanganese and silicomanganese, which are sold domestically. It also manufactures fly ash brick and manganese ore briquettes.
  • The company is in the business of generating power through various plants, including wind, thermal, and biomass power plants, from which it generates revenue. 
  • Hira Ferro Alloys Revenue Segmentation

  • Manufacturing Goods
  • Other Income
  • Power Generation
  • Traded Goods
  • Other Operating Income
  • Hira Ferro Alloys Product & Services

  • Ferro Alloys
  • Power
  • Thermal
  • Wind Mill
  • Biomass
  • Fly Ash Bricks (ISI Mark)
  • Mn. Ore Briquettes

  • Hira Ferro Alloys Assets

The company's assets as on 31st, March 2021
Particulars(Amount in Rs. Lakhs)
Freehold Land386
Leasehold Land54
Site & Land Development209
Factory Shed & Building1093
Plant & Machinery7689
Furniture & Fixtures58
Computer Software0.2
  • Hira Ferro Alloys Industry Overview

Industry Statistics

  • Ferroalloys are one of the important inputs in the manufacture of alloys and special steel. They are used as deoxidisers and alloy additives in the steel manufacturing process. They impart special properties to steel. The alloys provide increased resistance to corrosion, improve hardness & tensile strength at high temperature.
  • Ferroalloys are classified into two main categories, viz, bulk ferroalloys and noble ferroalloys. Hira Ferro Alloys operates as manufacturer of bulk ferroalloys. Bulk ferroalloys is majorly used in stainless steel & carbon steel.
  • As per Indian Ferroalloys Producers' Association (IFAPA), the total installed capacity of bulk Ferroalloys Industry in India is estimated at 5.10 million tonnes per annum and for noble ferroalloys it is 50,000 tonnes per annum in 2021.
  • The global ferroalloys market size was valued at USD 42.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2021 to 2028 as per Grandview research. Incessant production of steel around the world is projected to benefit market growth.
  • Ferroalloys Industry has not been operating to its full capacity in India. Ferroalloys Industry spends 40 to 70% production cost on power consumption. The power consumption per tonne of ferroalloys production in the country varied from 3,000 to 12,000 kWh.
  • Rising production capacities to meet the steel production are projected to increase the competition in the market. One of the major drivers for the ferroalloys market growth is the rising demand for steels from end-user industries like construction, shipbuilding, automotive, and several other sectors. The material has significant applications in steel products such as stainless steel, alloy steel, carbon steel, etc.
  • Prominent players in ferroalloys industries are SAIL and Jindal Group. 

Future Prospects

  • As per Indian Steel Association (ISA), steel demand will grow by 7.2% in 2019-20 and 2020-21.
  • Huge scope for growth is offered by India’s comparatively low per capita steel consumption and the expected rise in consumption due to increased infrastructure construction and the thriving automobile and railways sectors. The availability of iron ore in abundance throughout the globe, together with the increased demand for the different types of steel grades as a result of the lack of feasible alternatives, would provide a boost to the ferroalloys market in the forecast period. The rise in the population, together with the increase in living standards, also boosts the construction sector, further aiding the ferroalloys market. Recent government measures to improve the manufacturing sector in the Asia Pacific region is expected to propel the ferroalloys market over the forecast period.
  • The National Steel Policy 2017 has envisaged achieving up to 300 MT of production capacity by 2030-31. Expansion of production capacity to 300 MT will translate into additional investment of Rs 10 lakh crore (US$ 156.08 billion) by 2030-31, which is further expected to increase the demand of ferroalloys. 

Government Initiatives

  • The Indian Ferro Alloy Producers’ Association (IFAPA) is an apex body representing manufacturers of Bulk and Noble Ferro Alloys in the country. The Ferro Alloys Industry was established during the second five year plan as an ancillary industry to cater to the growing needs of the domestic Steel Industry.
  • Under the Union Budget 2020-21, the government allocated Rs. 39 cr. to the Ministry of Steel. The budget’s focus is on creating infrastructure and manufacturing to propel the economy. In addition, enhanced outlays for key sectors such as defence services, railways, and roads, transport and highways would provide impetus to steel consumption.
  • In January 2021, the Ministry of Steel, Government of India, signed a Memorandum of Cooperation (MoC) with the Ministry of Economy, Trade and Industry, Government of Japan, to boost the steel sector through joint activities under the framework of India–Japan Steel Dialogue.
  • The National Steel Policy, 2017 envisage 300 million tonnes of production capacity by 2030-31. The per capita consumption of steel has increased from 57.6 kgs to 74.1 kgs during the last five years. The government has a fixed objective of increasing rural consumption of steel from the current 19.6 kg/per capita to 38 kg/per capita by 2030-31.

Hira Ferro Alloys Strengths

  • As per India Bureau of Mines, Ferroalloys industry spends 40 to 70% production cost on power consumption. Whilst, Hira Ferro Alloys generates power using its own wind, biomass and thermal plant, which makes the company self sufficient and sets apart from rest of the companies in the segment.
  • The company has been able to consistently increase its production capacity year-on-year (y-o-y), which makes the company reaches economies of scale. 

Hira Ferro Alloys Shortcomings

  • India is the net exporter of the ferroalloys and conversely the company has no footprints outside India.  
  • The company did not make any investments for technology absorption or import any technology that is essential for the company in the segment. 

Hira Ferro Alloys Opportunities

  • Rapid growth in construction activity contributed to the growth of the Iron and Steel Mills and Ferroalloy market.

Hira Ferro Alloys Threats

  • Rising production capacities to meet the steel production are projected to increase the competition in the market.
Hira Ferro Alloys Rating



  • Hira Ferro Alloys Detail Info

Industry Statistics


Registered In


last Updated


Registered Date


Planify Ticker


Reg Office: Plot No. 567/B, Urla Industrial Area, Raipur, Chhattisgarh, 493221 India

Visit Website

Frequently Ask Questions

Please find below the procedure for buying stock_name_auto Unlisted Shares at Planify.
• 1. You confirm booking of stock_name_auto Unlisted Shares with us at a trading price.
• 2. You provide your client master report (ask the broker if not available) along with PAN Card and Cancelled Cheque in case you are not transferring funds from the bank account as mentioned in the CMR Copy. These are KYC documents required as per SEBI regulations.
• 3. We will provide the bank details.
• 4. You need to transfer funds in that account.
• 5. Payment has to be done in RTGS/NEFT/IMPS CHEQUE TRANSFER. No CASH DEPOSIT.
• 6. Payment has to be done from the same account in which shares are to be credited.
• 7. We will transfer the shares in 24 hours if funds are credited before 2 pm.
Important Note: Please note that the lock-in period for selling stock_name_auto Unlisted Shares is 6 months after listing. Hence you can’t sell stock_name_auto Unlisted Shares which you bought in Pre-IPO for 6 months after its listing. i.e. You can sell it only after 6 months calculated from the listing date.

Please find below the procedure for selling stock_name_auto Unlisted Shares at Planify.
• 1. We will confirm our buying price of stock_name_auto Unlisted Shares.
• 2. We will give you our client master report and you will transfer the stock_name_auto Unlisted Shares to our demat account.
• 3. We will ask for bank details of yours once the stock_name_auto Unlisted Shares are received in our demat account..
• 4. We will transfer the funds in your bank account within 24 hrs of receiving the stock_name_auto Unlisted Shares.
• 5. Payment will be made in RTGS / NEFT / CHEQUE TRANSFER/IMPS. No CASH DEPOSIT.
• 6. Payment will be given in the same account which is linked to demat account or you need to provide the cancelled cheque shows your name to verify. As per SEBI regulations, the transfer of funds in the third party account is not legal and our policy refrain us from doing so.
Note: The price at which we are buying the share is fixed for 3 days. If you cant sell your stock within 3 days, then the price of that day will be applicable when we receive shares in our demat.

Lock-in period of stock_name_auto Unlisted Shares depends upon category of investors.
• 1. Venture Capital Funds or Alternate Investment Fund of Category -I or II, or Foreign Venture Capital Investor - lock-in Period of 6 months from the date of acquisition of stock_name_auto Unlisted Shares.
• 2. Other Investors (include Retail, HNIs or Body Corporate) lock-in Period of 6 months from the date of listing of IPO of stock_name_auto Unlisted Shares.
This new SEBI rule was introduced in the month of August-2021, wherein the SEBI has reduced the lock-in period previously from 1 year to 6 months to encourage more and more funds to be invested in startups which are going to public or IPO in near future. Reduction of lock-in is seen as big step and after that many PMS funds are advising their clients to invest in Pre-IPO shares to get the benefit of early stage investment.

DIS - Delivery Instruction Slip is the way through which an investor can sell or transfer the stock_name_auto Unlisted Shares from his/her demat account to any other demat account. There are two Types of DIS Slip.
1. Offline-DIS - This is an offline mode of transfer of shares wherein the investors needs to fill DIS form and give it to their broker for transferring the shares. Following are the fields which are required to be filled.
• a. ISIN number of stock_name_auto Unlisted Shares.
• b. Name of stock_name_auto Unlisted Shares
• c. Quantity of stock_name_auto Unlisted Shares
• d. Cosideration Amount
• e. Target DP ID and Client ID
• f. Annexure
2. Online DIS - Some of the broker these days gives facility of transferring the stock_name_auto Unlisted Shares via online DIS. So, please check with your broker whether such facility is available or not. For example: Angel Broking proivdes the facility of Online-DIS from its platform. As an investor he/she simply needs to add a beneficiary into it and send the stock_name_auto Unlisted Shares by filling the details similar to Ofline-DIS.

In the last 4-5 years, the unlisted share market has become quite big and as a result of that, the ticket size has reduced from usual 5-10 Lac to 35-50k in today's scenario. Generally via our Planify platform, if somebody wants to buy Unlisted Shares then minimum investment would be 35-50k.To know about the minimum lot size of stock_name_auto, kindly click on this hyperlink - stock_name_auto.

Yes, buying and selling of unlisted shares in India is 100% legal.

If you sell your shares within 2 years, then you will have to pay Short-term Capital gain on unlisted shares. Short-Term Capital Gain is added in your Income. So, as per individual tax slab you need to pay capital gain tax.

If you sell your shares after 2 years, then you will have to pay Long-term Capital gain on unlisted shares LTCG is 20% with indexation benefits.

Taxes will remain the same irrespective of listing of shares, if bought in unlisted market. Actually, to be eligible for taxes as per listed market, one has to pay STT on buying and selling of shares. But, if you buy in unlisted and sell in listed market, one pay STT only on selling so, taxes of listed market will not be applicable.

If you buy stock_name_auto Unlisted Shares from Planify then these shares can checked in two ways. However, before we tell you the process of checking of shares, it is intimated that as per SEBI regulations, the shares can be transferred in demat account only.
Check credit of stock_name_auto Unlisted Shares Instantly?
• 1.You can download the NSDL or CDSL application from google play-store and check. If you want to check whether your stock broker is registered with NSDL or CDSL then check the following procedure.
• By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Demat Account = DP ID + Client ID. (16 Characters )
• "DP ID is the unique identification of the Broker. Every broker gets a unique number from CDSL or NSDL.By carefully examining the number format of Demat Account we can easily identify whether the stock broker is registered with CDSL or NSDL.
• Client ID is the unique identification of the Client. Every client gets this unique number which represents his/her portfolio.
• In CDSL, all these characters are numbers (1234567891234567) first 8 digits are DP ID and next 8 digits are Client Id whereas in NSDL the first two characters are letters which are in accordance with the country that you are from (IN12345678912345), then 6 unique digits for Broker and next 8 digits are client ID.
• Example:
• CDSL = 12345678(DP ID) and 91234567(Client ID).
• NSDL = IN123456 (DP ID) and 78912345(Client ID).
• Check in brokers application?
• Credit of stock_name_auto Unlisted Shares can be checked in brokers application as well but it takes T+2 days to show the shares.

The stock_name_auto Unlisted Shares are credited in demat account same day of transferring funds in our company's bank account.

The price of stock_name_auto Unlisted Shares can be checked in two ways. First, you can join our telegram channel where on daily basis we share the latest prices of all the unlisted shares in the morning and secondly, you can register on Planify.live platform to see the historical graphs and prices of all the shares at one place.

If you see the thesis of investment in the unlisted shares then it is being done mainly to take the advantage of IPO market. And, if the IPO plans of company get delayed due to market conditions or any other reason then demand suddenly drops in the market. The unlisted market works mainly on demand and supply and if there is no IPO news then getting exit would be difficult.

"Planify is India's fastest and leading marketplace to buy and sell unlisted shares. In the last 3 years, we have already served more than 1 million users on the platform. The total transactions value done from the platform is already more than 100 Crores. The name of our Co-founders Mr. Umesh Paliwal and Dinesh Gupta publish regularly in leading newspapers like MoneyControl, Business-Standard, ET etc for their views on IPO and Unlisted market. In the last 3 years, Planify has made a good name for itself in the industry and gained a trust of their users. So, the new investors should not be worried about any kind of fraud that is mostly happens with unkown brokers in the market while doing investment with Planify."

We at Planify do the valuation based on 2 methods.
• 1. We check the last funding that is being done in the stock_name_auto Unlisted Shares to ascertain the benchmark valuation.
• 2. If there is no funding happened in the company, then we try to find a business similar to stock_name_auto Unlisted Shares in the listed space and do comparison method to ascertain the valuation.
As an investor in the unlisted space, we would always recommend that you must check all the risk parameter carefully before investing in the unlisted space.

We source shares either from the employees or initial investors looking to liquidate their stock_name_auto Unlisted Shares.

Pre-IPO shares means which are planning for an IPO in near future. So, all the shares which are traded on the platform are not Pre-IPO Shares. However, if the company's business is going good and then demand will always be there in the unlisted space, so even if the IPO does not come, the investors can easily liquidate their stock_name_auto Unlisted Shares in the unlisted market itself.

Rules and regulations of SEBI are applicable in the Unlisted space like lock-in period of 6 months, paying of Stamp Duty, and DP Charges for every transaction etc. However, to become an unlisted broker there is no such regulation by SEBI as of yet.

For tracking news and other information about stock_name_auto Unlisted Shares, one can visit our website wherein we post news and other information on daily basis and one can also join our telegram channel.

Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of stock_name_auto Ltd unlisted share.

We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of stock_name_auto Ltd unlisted shares with us.

The financials of stock_name_auto Ltd which includes the P/L of stock_name_auto Ltd and the Balance Sheet of stock_name_auto Ltd is in the financials section.

The annual report of stock_name_auto Ltd is available in the annual report section.