Hiliks Technologies' revenue surges 324% in FY26 on order execution
The nano-cap IT firm more than quadrupled annual revenue to ₹29.59 crore, driven by large sub-contracts. Net profit rose 81% with a clean audit.
— 2 earlier stories on Hiliks Technologies Ltd. →What's new
- FY26 revenue jumped to ₹29.59 cr from ₹6.98 cr, up 324%.
- Net profit rose to ₹83.88 lakh from ₹46.34 lakh; Q4 profit hit ₹68.91 lakh.
- Auditors gave unmodified opinion; results reflect execution of ₹33.39 cr and ₹37.76 cr orders.
Why this matters
For a nano-cap with a market cap of just ₹62 crore, a 324% revenue jump is extraordinary. But the P/E of 73.5 suggests expectations are already stretched. The clean audit adds credibility, but sustainability depends on order flow beyond the two large contracts.
What we're watching
- Whether Hiliks can sustain revenue above ₹30 cr in FY27.
- Any new orders to replenish the order book after execution.
- How trade receivables and inventory build-up affect cash flow.
The full read
Hiliks Technologies just turned in numbers that look like they belong to a company ten times its size. Revenue surged to ₹29.59 crore in FY26, up 324% from ₹6.98 crore last year. Net profit hit ₹83.88 lakh, almost double the previous year's ₹46.34 lakh. The fourth quarter alone delivered ₹68.91 lakh — compared to just ₹2.61 lakh in Q4 FY25. The driver is clear: execution of a ₹33.39 crore sub-contract and a ₹37.76 crore order won in June 2026, which together exceed the company's ₹62 crore market cap. The auditors signed off cleanly. That is the good part. The P/E of 73.5 says the stock already expects this and more. The balance sheet shows a sharp build-up in trade receivables and inventories — a warning flag for cash conversion in a tiny company. The question is what comes after these two contracts. One more order of this size would change the narrative entirely. One dry quarter would snap it back.
Questions answered
- What drove Hiliks' massive revenue jump?
- Execution of two large sub-contracts totalling over ₹71 crore (₹33.39 cr and ₹37.76 cr) won earlier, with Q4 alone contributing ₹15.94 crore in revenue.
- Is the profit growth sustainable?
- Net profit rose 81% to ₹83.88 lakh, but Q4 comprised 82% of full-year profit. Margins and order flow will determine sustainability.
- How does the market cap compare to revenue?
- At ₹62 crore market cap against ₹29.59 crore revenue, the trailing P/E is 73.5, implying high growth expectations baked into the price.
- What was the audit opinion?
- Statutory auditors issued an unmodified opinion, indicating no material misstatements in the financial statements.
- What is the order book now?
- After executing the ₹33.39 cr contract and winning a ₹37.76 cr order in June 2026, the order book appears strong, though the filing does not provide a total outstanding.
- Why did trade receivables and inventories rise?
- Total assets grew to ₹35.23 cr from ₹21.96 cr, driven by trade receivables and inventories, suggesting increased working capital needs as revenue scaled.
Hiliks Technologies Ltd.
Latest quarter · Mar 2026
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All notes on HILIKS →- 12 Jun 2026 · 11:28 AM IST Hiliks Technologies' revenue surges 324% in FY26 on order execution
- today Hiliks Technologies lands ₹95 cr order, more than double its market cap
- 7d ago Hiliks wins ₹37.76 cr order, 61% of its market cap