HD Fire Protect Limited
HD Fire Protect is a leading Indian manufacturer of fire protection equipment and systems, offering water, foam and gas-based suppression solutions for industrial, commercial and residential applications across 90+ countries.
Overview
About the Company
HD Fire Protect Limited, established in April 1997, is a prominent Indian manufacturer and supplier of comprehensive fire protection equipment and systems. The company specializes in water, foam and gas-based fire suppression solutions, developing a diverse product portfolio across eight categories including sprinklers, alarm valves, deluge valves, foam equipment, monitors, nozzles, and custom-engineered systems. With over three decades of experience, the company has built a strong global presence, exporting to more than 90 countries since inception. It operates two manufacturing facilities in Jalgaon and Thane, Maharashtra, covering approximately 8.50 acres, complemented by a fire test laboratory and research and development capabilities. The company holds significant industry certifications, being the first Indian manufacturer to receive UL Listing for deluge valves in 1996 and FM approval for low-expansion foam products. As of September 2026, it maintains 21 UL Listed and 87 FM Approved product certifications. Its products serve diverse sectors including oil and gas, refining, petrochemicals, power, heavy engineering, aerospace, pharmaceuticals, data centers, hospitality and healthcare. Revenue from operations grew from ₹372.95 crore in Fiscal 2024 to ₹489.28 crore in Fiscal 2026, representing a 14.54% CAGR.
Company Details
📋 Objects of Issue (Use of Proceeds)
- › The HD Fire Protect IPO is a 100% Offer for Sale, so the company will not receive any funding. The entire IPO proceeds will go to the selling shareholders.
✅ Strengths
- ✓ Strong product certification and quality track record with UL and FM approvals
- ✓ Advanced design, manufacturing and R&D capabilities with in-house development
- ✓ Experienced management team and qualified personnel
- ✓ Comprehensive fire protection equipment and systems portfolio across eight categories
- ✓ Track record of profitability and consistent financial performance
- ✓ Strong and diversified customer base with long-standing global relationships
- ✓ Well-established global presence exporting to over 90 countries
- ✓ Second-largest Indian fire protection equipment manufacturer in FY25
⚠️ Risks
- ! Product failures can trigger liabilities and reputational damage
- ! Concentrated manufacturing footprint limited to Maharashtra locations
- ! No long-term supply agreements for raw materials creating procurement uncertainty
- ! Revenue volatility from absence of long-term customer contracts
- ! High dependence on maintaining international safety certifications for market access