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HD Fire Protect IPO: Price, Issue Details & Research Report

Comprehensive IPO analysis, issue details, financial performance and recommendation for HD Fire Protect Ltd.

Published Date: 12 October 2026
Report Overview

HD Fire Protect Limited has a proven business legacy of over 36 years as an Indian manufacturer and exporter of water-, foam- and gas-based fire protection equipment and systems as of June 30, 2026. It holds a differentiated position in its peer group as the sole manufacturer with UL Listing, FM Approval, CE Marking, VdS, ASME U-Stamp and Lloyd's Register certifications across key product segments.

Water-based fire suppression systems, including sprinklers, deluge and water spray systems, form the core revenue engine, contributing 62.6% of FY26 revenue. Foam-based suppression systems are the second-largest product segment, accounting for 18.71%, while exports to more than 90 countries contributed 32.78% of total operating income.

Revenue from operations grew at a 14.56% CAGR from ₹372.95 crore in FY24 to ₹489.28 crore in FY26, supported by strong domestic project demand and expanding global market penetration across more than 90 countries.

Operating EBITDA increased at an 18.82% CAGR from ₹106.63 crore in FY24 to ₹150.46 crore in FY26, with the operating EBITDA margin reaching 30.75% in FY26, reflecting strong operating profitability.

Profit After Tax (PAT) grew at a 15.25% CAGR from ₹87.92 crore in FY24 to ₹116.79 crore in FY26, while maintaining a healthy PAT margin of 23.12% in FY26.

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The HD Fire Protect IPO report covers the company overview and business model, issue details, financial performance, industry position, key strengths, risks, valuation and our research recommendation, so you can assess the IPO in one place.

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