What is Hicks Thermometers India Limited known for?

Hicks is one of India's oldest and most recognized medical thermometer brands, manufacturing clinical and digital thermometers, blood pressure monitors, pulse oximeters, and other home health monitoring devices from its Aligarh, Uttar Pradesh facility.

Is Hicks Thermometers a listed company?

No, Hicks Thermometers India Limited (CIN: U33112UP1961PLC002846) is an unlisted public limited company. It is not traded on BSE or NSE.

When was Hicks Thermometers incorporated?

Hicks Thermometers India Limited was incorporated in 1961, making it one of the oldest medical device manufacturers in India with over six decades of operations.

How has COVID-19 impacted Hicks Thermometers?

The COVID-19 pandemic significantly boosted demand for Hicks' thermometers and pulse oximeters as home health monitoring became mainstream. This catalysed a surge in sales and brand visibility that has partially sustained elevated demand in the post-pandemic period.

What are Hicks' main product categories?

Hicks manufactures clinical mercury-in-glass thermometers (legacy), digital clinical thermometers, non-contact infrared thermometers, blood pressure monitors (digital sphygmomanometers), pulse oximeters, and glucometers.

How do I buy Hicks Thermometers India Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Hicks Thermometers India Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Hicks Thermometers India Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Investment Thesis

Hicks Thermometers India Limited is a respected legacy Indian medical device brand with over 60 years of operations. Its strong pharmacy distribution network and household brand recognition are durable competitive advantages in a market where health monitoring demand is structurally growing. The key strategic imperative is technology modernisation to compete in the smart health device era. Suitable for investors seeking exposure to India's expanding home healthcare market through a trusted legacy brand.

Pros

Pioneer and legacy brand in Indian thermometer and medical instruments market with over 60 years of operating history
Strong brand recognition — 'Hicks' is one of the most trusted thermometer brands among Indian households and healthcare providers
Diversified product portfolio covering clinical thermometers, digital thermometers, blood pressure monitors, pulse oximeters, and glucometers
Post-COVID pandemic, awareness of home health monitoring devices has dramatically increased, expanding the addressable consumer market
Established distribution network across pharmacies, medical stores, and modern retail channels across India
Aligarh manufacturing base with long-standing cost-effective production capabilities

Cons

Intense competition from large organised players like Omron, Dr. Morepen, Accusure, and low-cost Chinese imports in the home health devices segment
Traditional mercury-based thermometer business has been impacted by global and domestic regulations restricting mercury in medical devices
Small unlisted company with limited disclosed financials, making investment analysis challenging
Technology upgradation requirements to keep pace with smart/connected health device trends
Thin margins in commoditised health monitoring device segments like pulse oximeters and digital thermometers
Limited geographic diversification — primarily an India-focused business

Business Segments

Thermometers

Clinical mercury-in-glass thermometers (regulated/declining), digital electronic thermometers, non-contact infrared forehead thermometers — the company's flagship product category

Blood Pressure Monitors

Digital sphygmomanometers (arm and wrist cuffs) for home and clinical use; growing segment driven by India's rising hypertension burden

Pulse Oximeters

Fingertip and wrist pulse oximeters measuring blood oxygen saturation (SpO2) and pulse rate; segment saw massive demand surge during COVID-19

Glucometers and Diagnostics

Blood glucose monitoring devices and test strips for diabetes management; newer segment leveraging Hicks brand and pharmacy distribution network

Revenue Model

Hicks Thermometers generates revenue through manufacturing and selling branded home and clinical health monitoring devices through a B2C model via pharmacies, medical stores, online marketplaces (Amazon, Flipkart), and modern retail. The company relies on brand trust and wide distribution reach in tier-2 and tier-3 cities where it competes effectively against premium foreign brands.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds14

Growth Plans

India's rising non-communicable disease burden (diabetes, hypertension) driving sustained demand for home monitoring devices

Government's Ayushman Bharat and Digital Health Mission increasing healthcare awareness and device adoption

Post-COVID permanent elevation in home health monitoring behaviour

Expansion into smart connected devices (IoT health devices) could reignite growth

Recent Developments

Post-COVID Demand Normalisation

Demand for thermometers and pulse oximeters normalised from COVID-era peaks, but remained above pre-pandemic levels as home health monitoring habits were permanently adopted by a larger consumer base.

2023

Digital Product Portfolio Refresh

Hicks Thermometers refreshed its digital thermometer range with improved accuracy, Bluetooth connectivity features, and international standard compliance to compete with Omron and other premium brands.

2022

COVID-19 Demand Surge

The second wave of COVID-19 in India created exceptional demand for pulse oximeters and digital thermometers. Hicks was among the brands that saw 5-10x revenue growth in these categories during Q1-Q2 2021.

2021

Comparable Companies

CompanyTypeTickerMkt Cap

Dr. Morepen Laboratories LimitedListedDRMOREPEN~Rs 1,200 Cr

Dr. Morepen Laboratories LimitedListed

DRMOREPEN · ~Rs 1,200 Cr

Frequently Asked Questions

About Hicks Thermometers India Limited

Hicks Thermometers India Limited is an Aligarh, Uttar Pradesh-based manufacturer of medical instruments and surgical equipment incorporated on 2 December 1961. With CIN U33112UP1961PLC002846, the company has over six decades of manufacturing experience in precision medical measurement instruments. The Hicks brand is well-recognized in the Indian healthcare sector for quality thermometers and medical devices. The company manufactures a range of clinical thermometers, digital thermometers, blood pressure monitors, and related medical devices under the trusted Hicks brand name. Aligarh's industrial estate location provides access to precision engineering expertise and supply chain infrastructure. The company is led by Managing Directors Hari Prakash Gupta (21 years tenure) and Siddharth Gupta (15 years tenure), reflecting strong family management continuity. With an authorised capital of Rs 50 lakh and paid-up capital of Rs 32.55 lakh, Hicks Thermometers has a modest capital structure for its six-decade-old brand. EBITDA declined 2.81% YoY in FY2024 but net worth increased 6.6%, indicating capital preservation. India's growing healthcare awareness and expanding medical device market provide ongoing demand for branded healthcare instruments.

Key Milestones

1961: Hicks Thermometers India Limited incorporated in Aligarh, Uttar Pradesh (CIN: U33112UP1961PLC002846)

1960s-1970s: Established as one of India's primary manufacturers of clinical mercury thermometers

Common questions about unlisted shares

How do I buy Hicks Thermometers India Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Risk factors & red flagsInvestment risks and items flagged from public filings11

Financial PerformanceLow

Net profit margin is thin at 4.0% (FY2024) — limited buffer against revenue or cost shocks

Source: Financial data

Operational RiskLow

Global brands like Omron (Japan), and domestic players like Dr. Morepen and Accusure are aggressively expanding in the home health device segment with better technology, marketing budgets, and consumer reach.

Source: AlphaHub Research

Regulatory / LegalLow

India's medical device regulatory framework under CDSCO is increasingly stringent; compliance requirements for clinical accuracy standards, quality management systems, and device registration add compliance costs.

Source: Regulatory Filings

Fraud / GovernanceLow

The shift towards connected health devices (Bluetooth-enabled, app-linked monitoring) requires significant R&D investment; failure to keep pace with smart device trends could erode market position.

Source: Media Reports / Public Records

Operational RiskLow

Low-cost Chinese imports of digital thermometers, oximeters, and BP monitors exert significant downward pricing pressure on domestic manufacturers including Hicks.

Source: AlphaHub Research

Operational RiskLow

Global Minamata Convention on mercury has been driving phase-out of mercury-in-glass thermometers; while Hicks has largely transitioned, legacy product line restructuring costs remain.

Source: AlphaHub Research

Competition Risk

Regulatory Risk

Technology Risk

The shift towards connected health devices (Bluetooth-enabled, app-linked monitoring) requires significant R&D investment; failure to keep pace with smart device trends could erode market position.

Import Competition Risk

Low-cost Chinese imports of digital thermometers, oximeters, and BP monitors exert significant downward pricing pressure on domestic manufacturers including Hicks.

Mercury Phase-Out Risk

Global Minamata Convention on mercury has been driving phase-out of mercury-in-glass thermometers; while Hicks has largely transitioned, legacy product line restructuring costs remain.

Hicks Thermometers India Limited

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