HVAX

Mumbai, India Founded: 2010 • Age: 16 yrs Listed

Turnkey solutions for pharmaceutical cleanroom panels and AHU are provided.

Page last updated 08 Jul 2026

About HVAX

HVAX is a publicly listed company based in Mumbai (India) founded in 2010 by Prayagdatt Mishra and Nirbhay Singh. It operates as a turnkey solutions for pharmaceutical cleanroom panels and AHU are provided. The company has 106 employees. Its Indian entity Hvax Technologies Limited reported revenue of ₹96.14 Cr. HVAX offers products and services including Clean Room Partition and HVAC Systems. Its focus areas include Industrial Goods and Manufacturing and Manufacturing Services.

Company details

HVAX was established in 2010 in Mumbai, India, as a specialist in pharmaceutical infrastructure. Turnkey integrated projects for pharma factories are handled, with manufacturing focused on cleanroom panels, air handling units (AHU), ducts, electrical panels, and passboxes. Operations center on delivering complete solutions for cleanroom environments in the pharmaceutical sector, supporting infrastructure needs across India.

Headquarters Mumbai, India
Employees 106
Founders Prayagdatt Mishra, Nirbhay Singh
Stage Public
Sectors
Industrial Goods & Manufacturing
Website hvax.in
Social Facebook
Legal Name Hvax Technologies Ltd.

Operational Areas

Industrial Goods & Manufacturing → Contract & Outsourced Manufacturing

Key Metrics

Market Cap
₹194 Cr
HVAX-SM · NSE
Share Price
₹735.00
+5.00% today
Revenue
₹164 Cr
FY 2025-26 · +25.1% YoY
EBITDA
₹17.03 Cr
Margin 10.4%
Net Profit
₹14.31 Cr
FY 2025-26 · +30.1% YoY
P/E (TTM)
14.0x
P/B 2.3x
ROE
18.6%
ROCE 19.9%
Debt / Equity
0.43
Interest cover 20.0x
Employee Count
106

Associated legal entities of HVAX

HVAX is associated with 2 registered companies on The Company Check; the primary company is Hvax Technologies Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.

Legal entity	Status	Incorporated	Registered in	Revenue (FY 2023)	Employees	Directors	Company page
Hvax Technologies Limited Listed CIN L74999MH2010PLC210329	Active	26 Nov 2010	Mumbai, Maharashtra	₹96.1 Cr	106	7	View details
Hvax Technologies Limited CIN U74999MH2010PLC210329	–	26 Nov 2010	Mumbai, Maharashtra, India	–	–	–	View details

Products & Services of HVAX

HVAX offers a comprehensive portfolio of products and services, including Clean Room Partition and HVAC Systems.

Clean Room Partition

Clean Room Solutions

Clean room partitions are provided for controlled environments in pharmaceutical settings.

HVAC Systems

HVAC Solutions

HVAC systems are designed and supplied for pharmaceutical and other applications to maintain required conditions.

Board of directors of Hvax Technologies Limited (HVAX)

Hvax Technologies Limited is the primary company behind HVAX. The board of Hvax Technologies Limited currently have 5 directors; the longest-serving is Prayagdatt Vijaykumar Mishra, appointed in 2010. 6 earlier directors have ceased.

Director	Designation	Appointed	Tenure	Entity
Prayagdatt Vijaykumar Mishra DIN 03306298	Managing Director	26 Nov 2010	15 yrs 10 mo	Hvax Technologies Limited
Nirbhaynarayan Sudarshan Singh DIN 02709947	Whole-time director	26 Nov 2010	15 yrs 10 mo	Hvax Technologies Limited
Shiv Kumar Mittal DIN 02578461	Director	17 Nov 2023	2 yrs 11 mo	Hvax Technologies Limited
Brinda Jitendrakumar Soni DIN 10474209	Director	12 Feb 2024	2 yrs 8 mo	Hvax Technologies Limited
Renuka Kunal Bajaj DIN 10475413	Director	12 Feb 2024	2 yrs 8 mo	Hvax Technologies Limited

People of HVAX

2 people are tracked at HVAX (2 in leadership); the tracked headcount is 106.

Name	Role	Group
Prayagdatt Mishra	Co-Founder & Managing Director	Leadership
Nirbhay Singh	Co-Founder	Leadership

Premium access

Complete people profiles for HVAX

Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.

Full employee list
Team structure
Board tenure
Professional contacts

Verified entity values are shown only after access is granted.

IPO & Listings of HVAX

HVAX is a publicly listed company on the NSE with ticker symbol HVAX in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

IPO date07 Oct 2024
Listed onNSE: HVAX
Listed entityHVAX Technologies Ltd.
Exchange sectorProducer manufacturing
ISININE0TO501019
Share price₹760.00 (+4.11% on the day) · 2026-10-14
Market capitalisation₹203 Cr
Price to earnings14.7
EPS (diluted, trailing year)₹51.53
Volume (last session)3,000

Financials of HVAX

Exchange-reported figures of Hvax Technologies Limited, the listed company behind HVAX (NSE: HVAX-SM).

Financial Highlights

FY 2025-26 · Consolidated

Revenue

₹164 Cr

+25.1% YoY

EBITDA

₹17.03 Cr

-8.4% YoY

Profit After Tax

₹14.31 Cr

+30.1% YoY

Net Worth

₹86.71 Cr

+20.4% YoY

Total Assets

₹129 Cr

+27.7% YoY

Total Debt

₹40.90 Cr

+46.2% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

Metrics	FY 2025-26	FY 2024-25
Income statement
Revenue	164	131
Revenue growth	+25.1%	-
EBITDA	17.03	18.59
EBITDA margin	+10.4%	+14.2%
Profit before tax	19.74	14.97
Net profit	14.31	11.00
Net profit margin	+8.7%	+8.4%
EPS (₹)	51.53	39.77
Balance sheet
Total assets	129	101
Net worth	86.71	72.02
Total debt	40.90	27.98
Cash & bank	9.03	14.27
Net working capital	121	92.39
Cash flow
Cash from operations	(14.47)	(21.94)
Cash from investing	(0.54)	0.41
Cash from financing	9.77	31.13

Metrics	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Income statement
Revenue	160	131	106	95.93	68.26	60.75	44.38
Revenue growth	+22.3%	+23.5%	+10.6%	+40.5%	+12.4%	+36.9%	-
EBITDA	16.47	18.59	12.65	8.55	6.89	5.42	3.19
EBITDA margin	+10.3%	+14.2%	+11.9%	+8.9%	+10.1%	+8.9%	+7.2%
Profit before tax	19.20	14.97	11.41	6.99	5.57	5.23	2.54
Net profit	14.31	11.00	8.19	5.20	4.04	3.65	1.89
Net profit margin	+8.9%	+8.4%	+7.7%	+5.4%	+5.9%	+6.0%	+4.3%
EPS (₹)	51.51	39.77	124.94	84.35	67.78	60.31	30.89
Balance sheet
Total assets	128	101	56.28	34.50	22.42	15.05	16.89
Net worth	86.32	72.02	30.98	17.21	12.01	7.83	5.73
Total debt	40.38	27.98	24.37	16.92	10.10	6.99	11.17
Cash & bank	7.88	14.27	4.67	8.71	6.45	3.11	3.62
Net working capital	119	92.39	45.93	26.21	13.61	3.64	9.02
Cash flow
Cash from operations	(14.24)	(21.94)	(12.22)	(3.62)	(0.84)	7.97	1.87
Cash from investing	(1.46)	0.41	(1.68)	(0.23)	1.70	(4.07)	(0.57)
Cash from financing	9.31	31.13	9.85	6.12	2.49	(4.42)	(0.97)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026

Particulars	FY 2025-26	FY 2024-25
Revenue	164	131
Revenue growth	+25.1%	-
Other income	7.11	0.39
Total expenses	147	112
Employee cost	13.53	10.44
EBITDA	17.03	18.59
EBITDA margin	+10.4%	+14.2%
Depreciation	1.25	1.54
Interest	3.15	2.47
Profit before tax	19.74	14.97
Tax	5.01	3.91
Net profit	14.31	11.00
Net profit margin	+8.7%	+8.4%
EPS (₹)	51.53	39.77

Particulars	FY 2025-26	FY 2024-25
Equity & liabilities
Share capital	2.78	2.78
Reserves & surplus	83.93	69.24
Shareholders' funds (net worth)	86.71	72.02
Minority interest	0.19	0.00
Secured loans	40.54	27.65
Unsecured loans	0.36	0.33
Total debt	40.90	27.98
Total liabilities	129	101
Assets
Gross block	12.75	12.44
Net block	6.82	7.76
Capital work in progress	0.00	0.00
Investments	0.03	0.03
Inventories	41.65	20.58
Sundry debtors	85.92	71.44
Cash & bank balances	9.03	14.27
Loans & advances	9.69	6.47
Total current assets	146	113
Total current liabilities	24.90	20.37
Net working capital	121	92.39
Total assets	129	101

Particulars	FY 2025-26	FY 2024-25
Opening cash	14.27	4.67
Net cash from operating activities	(14.47)	(21.94)
Net cash from investing activities	(0.54)	0.41
Net cash from financing activities	9.77	31.13
Net change in cash	(5.24)	9.60
Closing cash	9.03	14.27

Particulars	FY 2025-26	FY 2024-25
Growth
Sales growth	+25.1%	-
EBITDA growth	-8.4%	-
PBT growth	+31.9%	+9997.0%
Net income growth	+30.1%	-
Profitability & leverage
Net income margin	+9.0%	+8.4%
Return on capital employed	+19.9%	+17.2%
Return on net worth	+18.6%	+15.3%
Debt / equity	0.43	0.39
Long-term debt / equity	0.03	0.03
Interest cover	19.96	14.49
Efficiency & per share
Fixed asset turnover	13.01	10.53
Inventory turnover	5.27	6.37
Debtors turnover	2.08	1.83
EPS (₹)	51.53	39.77
Dividend per share (₹)	0.00	0.00
Book value per share (₹)	312.23	259.34

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Revenue	160	131	106	95.93	68.26	60.75	44.38
Revenue growth	+22.3%	+23.5%	+10.6%	+40.5%	+12.4%	+36.9%	-
Other income	7.06	0.39	1.41	0.21	0.53	1.08	1.02
Total expenses	144	112	93.41	87.38	61.37	55.33	41.19
Employee cost	12.98	10.44	8.55	6.71	6.06	4.70	3.81
EBITDA	16.47	18.59	12.65	8.55	6.89	5.42	3.19
EBITDA margin	+10.3%	+14.2%	+11.9%	+8.9%	+10.1%	+8.9%	+7.2%
Depreciation	1.24	1.54	1.07	1.07	1.22	0.71	0.41
Interest	3.09	2.47	1.58	0.70	0.63	0.56	1.26
Profit before tax	19.20	14.97	11.41	6.99	5.57	5.23	2.54
Tax	4.89	3.91	2.91	1.79	1.39	1.52	0.65
Net profit	14.31	11.00	8.19	5.20	4.04	3.65	1.89
Net profit margin	+8.9%	+8.4%	+7.7%	+5.4%	+5.9%	+6.0%	+4.3%
EPS (₹)	51.51	39.77	124.94	84.35	67.78	60.31	30.89

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Equity & liabilities
Share capital	2.78	2.78	0.68	0.62	0.62	0.62	0.62
Reserves & surplus	83.54	69.24	30.30	16.59	11.39	7.21	5.11
Shareholders' funds (net worth)	86.32	72.02	30.98	17.21	12.01	7.83	5.73
Secured loans	40.02	27.65	24.06	15.63	8.93	5.20	11.15
Unsecured loans	0.36	0.33	0.31	1.29	1.17	1.79	0.02
Total debt	40.38	27.98	24.37	16.92	10.10	6.99	11.17
Total liabilities	128	101	56.28	34.50	22.42	15.05	16.89
Assets
Gross block	12.68	12.44	12.12	10.42	10.33	11.88	8.35
Net block	6.76	7.76	8.99	7.06	8.04	10.35	7.23
Capital work in progress	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	1.43	0.03	0.37	0.72	0.41	0.85	0.53
Inventories	39.99	20.58	20.09	20.03	14.95	2.80	2.26
Sundry debtors	84.84	71.44	24.91	32.48	19.76	16.30	11.14
Cash & bank balances	7.88	14.27	4.67	8.71	6.45	3.11	3.62
Loans & advances	9.57	6.47	3.64	8.75	3.90	3.18	2.86
Total current assets	142	113	53.31	69.97	45.06	25.39	19.88
Total current liabilities	23.29	20.37	7.38	43.76	31.45	21.75	10.86
Net working capital	119	92.39	45.93	26.21	13.61	3.64	9.02
Total assets	128	101	56.28	34.50	22.42	15.05	16.89

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Opening cash	14.27	4.67	8.71	6.45	3.11	3.62	3.30
Net cash from operating activities	(14.24)	(21.94)	(12.22)	(3.62)	(0.84)	7.97	1.87
Net cash from investing activities	(1.46)	0.41	(1.68)	(0.23)	1.70	(4.07)	(0.57)
Net cash from financing activities	9.31	31.13	9.85	6.12	2.49	(4.42)	(0.97)
Net change in cash	(6.39)	9.60	(4.04)	2.26	3.34	(0.51)	0.32
Closing cash	7.88	14.27	4.67	8.71	6.45	3.11	3.62

Particulars	FY 2025-26	FY 2024-25	FY 2023-24	FY 2022-23	FY 2021-22	FY 2020-21	FY 2019-20
Growth
Sales growth	+22.3%	+23.5%	+10.6%	+40.5%	+12.4%	+36.9%	-
EBITDA growth	-11.4%	+47.0%	+48.0%	+24.1%	+27.1%	+69.9%	-
PBT growth	+28.3%	+31.2%	+63.2%	+25.5%	+6.5%	+105.9%	+9997.0%
Net income growth	+30.1%	+34.3%	+57.5%	+28.7%	+10.7%	+93.1%	-
Revenue CAGR (3Y)	+18.6%	+24.3%	+20.4%	+29.3%	-	-	-
EBITDA CAGR (3Y)	+24.4%	+39.2%	+32.7%	+38.9%	-	-	-
Profitability & leverage
Net income margin	+8.9%	+8.4%	+8.0%	+5.4%	+6.1%	+6.1%	+4.3%
Return on capital employed	+19.4%	+22.1%	+28.6%	+27.0%	+33.1%	+38.5%	+22.6%
Return on net worth	+18.1%	+21.4%	+35.4%	+35.6%	+42.1%	+47.5%	+33.3%
Debt / equity	0.43	0.51	0.86	0.92	0.87	0.89	1.95
Long-term debt / equity	0.03	0.05	0.09	0.17	-9,406.04	0.65	1.15
Interest cover	20.29	14.49	13.64	9.36	11.11	11.89	45.32
Efficiency & per share
Fixed asset turnover	12.76	10.67	9.41	9.25	6.15	5.11	5.62
Inventory turnover	5.29	6.44	5.29	5.48	7.69	21.70	20.76
Debtors turnover	2.05	2.72	3.70	3.67	3.79	3.73	4.21
EPS (₹)	51.51	39.77	124.94	84.35	67.78	60.31	30.89
Dividend per share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per share (₹)	310.85	259.34	454.50	278.94	194.59	126.80	92.85

Web traffic of HVAX

The website of HVAX (hvax.in) receives about 1.8K visits a month.

Monthly visits
1.8K
▲ 5% vs previous month

Similar websites

Websites whose visitors overlap most with HVAX. Affinity shows how closely the audiences match.

Website	Domain	Audience affinity	Monthly visits	Global rank	Profile
vineeshrohini.com	vineeshrohini.com	100%	–	#3,136,944	–

Top companies in Contract & Outsourced Manufacturing

10 companies that operate in the same segment as HVAX (Contract & Outsourced Manufacturing), ranked by their profile score on The Company Check.

Company	Description	Founded	Location	Total funding	Revenue	Employees
Flex	Designer and producer of intelligent products, automotive electronics manufacturing, and logistics services	1969	San Jose, California, United States	–	USD 27.91 B	147,980
Foxconn Electronics	Electronic products and components are manufactured globally by Foxconn.	1974	Taipei, Taiwan	–	–	12,716
Craftsman Automation	Industrial components, mould bases, and storage solutions are manufactured globally.	1986	Coimbatore, Tamil Nadu, India	USD 28 M	USD 853.09 M	3,060
Magna International	Automotive components are manufactured and supplied to OEMs.	1957	Aurora, Ontario, Canada	–	USD 42.92 B	170,000
KRYFS	Single- and three-phase transformers are manufactured in Mumbai.	1993	Mumbai, Maharashtra, India	–	USD 114.37 M	618
Watsco	Equipment and parts for HVAC/R industry are supplied.	1956	Miami, Florida, United States	–	USD 7.24 B	7,290
Huaqin	Smart hardware and vehicle electronics are manufactured on contract.	2005	Pudong, Shanghai, China	USD 431.15 M	USD 24.45 B	1,982
Clas Ohlson	Clas Ohlson was founded in 1918 in Insjön, Sweden.	1918	Insjon, Dalarna, Sweden	–	USD 1.35 B	–
Fraunhofer	Application-oriented research is conducted in bioeconomy, AI, and climate technologies.	1949	Darmstadt, Hesse, Germany	USD 23.27 M	–	–
Gokaldas Exports	Apparel and clothing are manufactured and exported on contract.	1979	Bengaluru, Karnataka, India	–	USD 400 M	40,280

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Frequently Asked Questions about HVAX

When was HVAX founded?

HVAX was founded in 2010.

Where is HVAX located?

HVAX is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.

How many employees does HVAX have?

HVAX has 106 employees.

What is the annual revenue of HVAX?

The primary company behind HVAX, Hvax Technologies Limited, reported revenue of ₹96.14 Cr for FY 2023, up 40% year on year.

What does HVAX do?

What products or services does HVAX offer?

HVAX offers Clean Room Partition and HVAC Systems.

Is HVAX publicly traded?

Yes, HVAX is publicly traded on NSE under the ticker symbol HVAX.

Which legal entities are associated with HVAX?

HVAX operates through Hvax Technologies Limited.

Who are the directors of HVAX?

The legal entities of HVAX currently have 7 directors, including Prayagdatt Vijaykumar Mishra, Shiv Kumar Mittal, Nirbhaynarayan Sudarshan Singh and others.