HD Fire Protect - IPO Report

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.