Key Points
Hirect shares jumped 4% after securing ₹120 crore in new Indian Railways orders.
The company won its first-ever Vande Metro trainset order worth ₹60 crore.
A separate ₹60 crore MEMU propulsion order came from the Modern Coach Factory.
irect stock has rallied over 72% year-to-date, extending its multibagger track record.
Hirect shares jumped 4% on Monday, July 27, 2026, after the company secured ₹120 crore in fresh Indian Railways orders. The power electronics maker, formerly known as Hind Rectifiers, disclosed the wins over the weekend. Shares had already closed 1.3% higher at ₹1,301.90 on Friday, up from ₹1,285. Hirect stock has now rallied more than 72% year-to-date in 2026, extending its multi-year winning streak.
Hirect Wins First-Ever Vande Metro Order
Hirect (HIRECT.NS) secured its maiden development order for Vande Metro, also known as Namo Bharat, trainsets directly from Indian Railways.
- Contract value: approximately ₹60 crore.
- Execution timeline: 21 months from the award date.
- Scope: core propulsion and power electronic systems for the trainsets.
The company confirmed the order involves no related-party transactions with promoters or group entities. This marks Hirect’s formal entry into India’s newest premium rail rolling-stock segment.
Second Order Covers MEMU Trainset Propulsion
Hirect also won a separate ₹60 crore order from the Modern Coach Factory, part of Indian Railways.
- Scope: complete propulsion systems for four MEMU trainsets.
- Execution period: 24 months from the award date.
- Contract type: domestic supply order under standard Railways terms.
Together, both orders total ₹120 crore in confirmed new business for Hirect. Management called this a “maiden order” win in the MEMU propulsion category specifically.
Name Change Reflects Broader Business Shift
Hirect’s rebrand from Hind Rectifiers became official on July 24, 2026, after Ministry of Corporate Affairs approval.
- The MCA issued a fresh certificate of incorporation under the new name.
- Both BSE (504070) and NSE (HIRECT) listings retain the same ticker symbols.
Hirect recently acquired France-based BeLink Solutions, expanding into European robotics and power electronics markets. The company also began commercial production at its backward-integrated copper conductor facility in Sinnar, Maharashtra. These moves signal a broader strategic push beyond its traditional railway equipment business.
Financial Performance Backs the Rally
Hirect’s recent order wins follow a strong Q4 FY25 performance that boosted investor confidence.
- Net profit surged 98.2% year-on-year to ₹10.15 crore.
- Net sales rose 22.3% to ₹185.05 crore.
The company has consistently won high-value railway contracts throughout 2025 and 2026, including a ₹127 crore order in June 2025. That track record has helped Hirect deliver multibagger returns over multiple time frames. Peers like Titagarh Rail Systems and Texmaco Rail also compete for similar Indian Railways modernization contracts.
Analysts’ View
Hirect’s back-to-back Vande Metro and MEMU wins strengthen its position in India’s rail modernization push. Both orders carry no related-party risk, a detail markets often reward with tighter valuation premiums. With 72% YTD gains already banked, investors should watch execution timelines closely across both 21-month and 24-month contracts. The BeLink Solutions acquisition adds a European growth angle that could diversify revenue beyond domestic railway dependence.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
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