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HP Adhesives Limited

HP Adhesives Limited

HPAL.NS
HP Adhesives LimitedIN flagNational Stock Exchange of India
35.05
INR
-1.07
- -
3.22BMarket Cap
HP Adhesives Limited
HPAL.NS
(National Stock Exchange of India)

Recent

price

35.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
9.51
10.39
12.86
21.65
25.36
25.68
27.25
27.15
27.83
Revenue per Share
0.44
-0.51
1.09
0.79
1.18
2.24
1.99
0.76
0.76
Basic EPS, GAAP
-0.14
-0.13
-0.56
-3.63
-2.29
0.56
0.34
-0.63
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
0.3
0.4
- -
Dividend per Share
1.6
0.27
1.41
17.26
3.86
6.1
7.79
2
2.01
Book Value per Share
1.6
0.25
1.36
18.04
16.13
18.36
20.09
20.44
20.53
Tangible Book Value per Share
92
92
92
76
92
92
92
92
91
Basic Weighted Avg Shares
874
955
1,182
1,646
2,330
2,359
2,498
2,493
2,544
Sales/Revenue/Turnover
10.49
4.26
9.47
5.14
6.79
11.2
8.53
2.91
2.85
Operating Margin (%)
7
19
19
28
19
43
47
58
58
Depreciation Expense
40
-47
101
60
109
206
182
70
70
Net Income, GAAP
1.44
- -
23.96
26.32
27.77
26.85
23.11
5.42
5.42
Effective Tax Rate (%)
4.58
-4.89
8.51
3.65
4.66
8.72
7.3
2.8
2.74
Profit Margin (%)
40
-105
-55
854
665
960
1,062
1,111
1,111
Working Capital
11
15
87
82
53
16
7
6
6
LT Debt
147
25
127
1,373
1,483
1,689
1,843
1,877
1,877
Total Equity
- -
- -
21.37
6.22
7.54
12.09
9.26
3.63
3.63
Return on Invested Capital (%)
- -
- -
25.13
8.1
12.72
40.96
28.77
18.67
18.67
Return on Capital (%)
- -
-54.48
129.93
8.33
13.03
44.98
28.63
15.54
15.54
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
18
- -
37
LT Borrowings
- -
- -
- -
LT Finance Leases
3
- -
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
92
- -
92
Market Capitalization
4,385
3,770
2,461

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
1,508
- -
1,541
Cash, Cash Equivalents & STI
458
- -
574
Accounts Receivable, Net
416
- -
373
Inventories
573
- -
505
Total Current Liabilities
412
- -
431
Payables & Accruals
- -
- -
- -
ST Debt
18
- -
37
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
203.55%
1.88%
Free Cash Flow
- -
-7.43%
-285.61%
Net Income, GAAP
- -
11.37%
-61.76%
Sales/Revenue/Turnover
- -
17.56%
-0.21%
Total Cash Common Dividend
- -
- -
33.34%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
593
626
547
593
2,359
2025
605
589
667
662
2,498
2026
661
651
654
578
2,493

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.49
0.57
0.57
- -
2.24
2025
0.61
0.45
0.46
0.39
1.99
2026
0.46
0.38
0.18
-0.26
0.76

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
0.3
2026
- -
- -
- -
- -
0.4
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Business
HP Adhesives Limited manufactures and markets a diverse portfolio of adhesives and sealants for plumbing, construction, automotive, footwear, woodwork, and general industrial applications; core products include PVC, CPVC, and UPVC solvent cements, silicone sealants, synthetic rubber contact adhesives, white glue/PVA adhesives, epoxy adhesives, cyanoacrylates, epoxy putty, gasket shellac, acrylic sealants, PVC pipe lubricants, and ancillary items such as ball valves, thread seals, tapes, and FRP manhole covers. The company, founded in 1987 and headquartered in Mumbai, Maharashtra, operates a multi-product manufacturing facility in Village Narangi, Raigad, with an installed capacity of 13,500 MTPA and a second plant equipped with silicon sealant lines commissioned in 2023; it maintains five sales depots in Delhi, Kolkata, Bengaluru, Indore, and Ahmedabad, supporting a network of over 1,450 distributors serving more than 50,000 dealers across 23 Indian states and union territories while exporting to over 40 countries in Asia, the Gulf, the United States, Africa, and Europe. Recent developments include the establishment of Unitybond Solutions Private Limited as a wholly-owned subsidiary in April 2024, the launch of new product categories encompassing epoxy adhesives and cyanoacrylates in fiscal 2025, the commissioning of solar panel installations at the second plant in 2025, and ongoing distribution expansion with annual addition of over 150 distributors.