Hindware Home Innovation Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Building Products: 87.4% • Consumer Products: 12.7% • Discontinued Operations: -0.0%
AI Sector View
AI GENERATEDOil Gas & Consumable Fuels
Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 199.70x)
- Latest quarter profit grew 115.0% YoY, showing strong momentum
- Working capital cycle has improved - days down from 9 to -3
- Company generates healthy free cash flow
- Company converts assets efficiently - asset turnover of 1.8x
CONS
- Company is loss-making at the operating / net level
- Company has a low return on equity of 0.7% over last 3 years
- Company has a low return on capital employed of 6.5%
- Interest coverage is weak at 0.9x - earnings barely cover interest
- Equity base is being diluted - shares outstanding up 15.7%
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIENT | 2936.00 | 53.39 | 397452.96 | 0.04 | -1461.54 | -249.67 | 32923.98 | 49.92 | 13.30 | 15.57 |
| PREMIERENE | 998.00 | 27.21 | 45304.36 | 0.10 | 471.92 | 53.32 | 2462.59 | 35.25 | 33.72 | 29.03 |
| AEGISLOG | 1270.55 | 35.64 | 44596.31 | 0.68 | 544.84 | 210.70 | 2356.86 | 37.07 | 19.76 | 30.28 |
| CPPLUS | 3705.90 | 91.86 | 43840.96 | 0.04 | 142.20 | 332.51 | 1402.42 | 89.51 | 29.48 | 14.52 |
| REDINGTON | 371.40 | 17.07 | 29035.10 | 1.62 | 453.49 | 94.65 | 34922.47 | 34.57 | 18.96 | 2.03 |
| HONASA | 470.75 | 61.67 | 15347.59 | 0.64 | 90.45 | 118.87 | 755.95 | 27.00 | 8.99 | 14.58 |
| LLOYDSENT | 74.20 | 100.87 | 11327.02 | 0.20 | 109.98 | -55.77 | 563.03 | 70.15 | 12.84 | 18.07 |
| SGMART | 826.10 | 83.74 | 10411.77 | 0.00 | 455.80 | 1310.71 | 13085.70 | 1044.08 | 10.43 | 4.49 |
| MMTC | 64.18 | 21.52 | 9627.00 | 0.00 | 104.24 | 135.52 | 0.68 | -50.00 | 33.46 | -1423.53 |
| ENTERO | 1827.20 | 63.41 | 7952.54 | 0.00 | 52.05 | 72.17 | 1940.50 | 38.23 | 10.93 | 5.00 |
| CELLO | 342.50 | 24.69 | 7724.69 | 0.44 | 73.40 | -8.99 | 526.72 | -0.43 | 17.15 | 18.80 |
| HINDWAREAP | 182.40 | 0.00 | 1525.71 | 0.00 | 4.37 | 115.03 | 625.25 | 17.71 | 4.24 | 7.88 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 623 | 693 | 688 | 772 | 600 | 630 | 594 | 699 | 531 | 676 | 640 | 663 | 625 | |
| 560 | 619 | 635 | 698 | 557 | 600 | 565 | 658 | 482 | 620 | 592 | 618 | 622 | |
| Operating Profit | 63 | 74 | 52 | 75 | 43 | 30 | 29 | 41 | 49 | 56 | 48 | 44 | 3 |
| OPM % | 10.04% | 10.73% | 7.61% | 9.69% | 7.17% | 4.72% | 4.95% | 5.85% | 9.18% | 8.34% | 7.53% | 6.68% | 0.44% |
| 8 | 8 | 11 | 8 | 12 | 10 | 8 | -19 | -40 | 4 | 3 | 15 | 3 | |
| Interest | 22 | 24 | 23 | 24 | 24 | 24 | 23 | 19 | 18 | 17 | 17 | 19 | 17 |
| Depreciation | 28 | 29 | 30 | 31 | 31 | 31 | 31 | 30 | 30 | 29 | 29 | 29 | 30 |
| Profit before Tax | 21 | 29 | 10 | 28 | 1 | -15 | -16 | -28 | -40 | 15 | 6 | 11 | 6 |
| Tax % | 72.85% | 19.32% | 14.39% | 26.48% | 29.58% | 26.05% | 23.94% | -2.08% | 37.21% | 43.64% | 19.43% | 27.22% | 32.87% |
| Net Profit | 0 | 0 | 0 | 0 | -39 | -16 | -18 | -31 | -29 | 5 | 4 | -188 | 4 |
| 0.09 | 3.03 | 0.86 | 2.16 | -0.47 | -1.95 | -2.17 | -4.07 | -3.50 | 0.60 | 0.43 | -2.28 | 0.52 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 1,671 | 1,613 | 1,775 | 2,294 | 2,872 | 2,776 | 2,523 | 2,510 | 2,604 | |
| 0 | 1,547 | 1,525 | 1,632 | 2,119 | 2,627 | 2,514 | 2,380 | 2,313 | 2,453 | |
| Operating Profit | -0 | 124 | 88 | 143 | 175 | 245 | 263 | 143 | 198 | 152 |
| OPM % | — | 7.42% | 5.47% | 8.06% | 7.62% | 8.55% | 9.46% | 5.67% | 7.87% | 5.82% |
| 0 | 9 | 24 | 18 | 130 | 36 | 36 | 11 | -18 | 26 | |
| Interest | 0 | 29 | 33 | 29 | 20 | 77 | 93 | 89 | 70 | 70 |
| Depreciation | 0 | 20 | 46 | 39 | 39 | 101 | 119 | 123 | 117 | 117 |
| Profit before Tax | -0 | 85 | 33 | 92 | 245 | 103 | 88 | -58 | -8 | 38 |
| Tax % | -0.00% | 35.51% | 30.32% | 40.66% | 17.02% | 35.47% | 33.69% | 11.85% | 52.90% | 33.25% |
| Net Profit | -0 | 55 | 23 | 55 | 203 | 66 | 58 | -51 | -4 | 26 |
| EPS | -1.25 | 7.57 | 3.20 | 7.59 | 27.90 | 7.96 | 3.57 | -8.16 | -4.74 | — |
| Dividend Payout % | 0.00% | — | 4.69% | 3.95% | 1.79% | 6.33% | 11.22% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 7%
- 3 Years:
- -4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -12%
- 3 Years:
- -32%
- 1 Year:
- -44%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 12%
- 3 Years:
- 1%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 14 | 14 | 14 | 14 | 14 | 17 | 17 |
| Minority Interest | 0 | 0 | 0 | 0 | 7 | 9 | 9 | 9 |
| 242 | 260 | 315 | 512 | 561 | 583 | 760 | 720 | |
| 331 | 427 | 267 | 395 | 980 | 972 | 789 | 743 | |
| Trade Payables | 170 | 112 | 144 | 252 | 297 | 312 | 407 | 436 |
| 198 | 153 | 261 | 933 | 407 | 477 | 475 | 440 | |
| Total Liabilities | 942 | 967 | 1,002 | 2,107 | 2,266 | 2,367 | 2,457 | 2,365 |
| 108 | 190 | 157 | 743 | 912 | 918 | 875 | 999 | |
| Capital Work in Progress | 4 | 5 | 10 | 58 | 36 | 54 | 209 | 93 |
| 0 | 0 | 26 | 114 | 88 | 104 | 73 | 39 | |
| 279 | 310 | 280 | 675 | 684 | 589 | 601 | 614 | |
| 0 | 0 | 0 | 0 | 0 | 453 | 508 | 420 | |
| Cash & Bank | 22 | 3 | 8 | 27 | 9 | 29 | 25 | 33 |
| 528 | 460 | 521 | 490 | 538 | 220 | 166 | 167 | |
| Total Assets | 942 | 967 | 1,002 | 2,107 | 2,266 | 2,367 | 2,457 | 2,365 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| -0 | 79 | 96 | 257 | 287 | 257 | 241 | 192 | 258 | |
| Cash from Investing | -0 | -37 | -31 | -52 | -124 | -705 | -219 | -215 | -129 |
| Cash from Financing | 0 | -123 | -28 | -178 | -83 | 467 | -2 | 18 | -120 |
| 0 | -81 | -19 | 5 | 19 | -17 | 20 | -4 | 8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | |||||||||
| EPS (₹) | -1.25 | 0.00 | 3.20 | 7.59 | 27.90 | 7.90 | 3.57 | -8.16 | -4.74 |
| Book Value (₹) | 0.75 | 0.00 | 37.93 | 45.64 | 72.81 | 79.64 | 82.69 | 92.90 | 88.10 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.15 | 0.30 | 0.50 | 0.50 | 0.40 | 0.00 | 0.00 |
| Cash EPS (₹) | -1.19 | 0.00 | 9.12 | 12.42 | 32.04 | 22.09 | 23.34 | 8.57 | 13.60 |
| PROFITABILITY | |||||||||
| Operating Margin % | 0.00% | 5.49% | 4.72% | 5.95% | 5.63% | 5.93% | 5.57% | 3.14% | 4.48% |
| Net Margin % | 0.00% | 2.25% | 0.97% | 2.03% | 5.62% | 1.40% | 1.23% | -1.12% | -0.08% |
| ROE % | -166.67% | 45.16% | 8.95% | 18.15% | 47.53% | 12.06% | 9.90% | -7.40% | -0.49% |
| ROCE % | -63.69% | 40.52% | 11.45% | 21.74% | 44.69% | 18.40% | 13.24% | 2.14% | 4.24% |
| -57.39% | 11.62% | 2.42% | 5.57% | 13.09% | 3.04% | 2.51% | -2.11% | -0.16% | |
| EFFICIENCY | |||||||||
| Debtor Days | 0 | 54 | 55 | 52 | 36 | 26 | 32 | 39 | 38 |
| Inventory Days | 0 | 42 | 45 | 40 | 48 | 52 | 49 | 48 | 50 |
| Payable Days | 0 | 29 | 48 | 39 | 46 | 61 | 74 | 85 | 89 |
| 0 | 67 | 52 | 52 | 38 | 17 | 8 | 1 | -1 | |
| FINANCIAL HEALTH | |||||||||
| Debt to Equity (x) | 1.60x | 1.25x | 1.20x | 0.57x | 0.27x | 1.24x | 1.40x | 0.93x | 0.96x |
| Interest Coverage (x) | -155.25x | 3.97x | 2.00x | 4.13x | 13.01x | 2.34x | 1.95x | 0.35x | 0.89x |
| 1.53x | 1.29x | 1.31x | 1.42x | 0.88x | 1.08x | 1.00x | 1.10x | 0.98x | |
| GROWTH | |||||||||
| Revenue Growth % | 0.00% | 0.00% | -3.46% | 10.05% | 29.20% | 25.23% | -3.34% | -9.12% | -0.50% |
| Operating Profit Growth % | 0.00% | 0.00% | -15.55% | 43.30% | 26.65% | 37.69% | 6.40% | -38.62% | 26.68% |
| Net Profit Growth % | 0.00% | 0.00% | -57.75% | 137.32% | 271.05% | -67.34% | -12.62% | -187.60% | 92.64% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -54.84% | -328.94% | 41.89% | |
| VALUATION | |||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 100.31x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.53x | 2.26x | 1.98x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.11% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 11.76x | 13.34x | 9.18x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-19 - Hindware Home Innovation Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 18, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-18 - Hindware Home Innovation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 18, 2026
2026-08-13 - Hindware Home Innovation Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Hindware Home Innovation Limited has informed the Exchange about Investor Presentation
2026-08-12 - Hindware Home Innovation Limited has informed the Exchange about Investor Presentation
2026-08-12 - With reference to the captioned subject, we would like to inform you that the Board of Directors of the Company in its meeting held today i.e. 12th August, 2026 has, inter-alia, approved the un-audited standalone and consolidated financial results of the Company together with segment wise revenue and results, segment wise assets and liabilities for the first quarter ended 30th June, 2026, duly recommended by the Audit Committee in the meeting held on 12th August, 2026 in compliance with the requirements of Regulations 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the same along with the Limited Review Report of the Statutory Auditors thereon.
2026-07-26 - Hindware Home Innovation Limited has informed the Exchange about Intimation regarding newspaper publication of Notice of 9th AGM of the Company and information about e-voting)
2026-07-25 - Hindware Home Innovation Limited has informed the Exchange about Communication To Shareholders For Annual Report Web-Link
2026-07-25 - Hindware Home Innovation Limited has informed the Exchange about Business Responsibility and Sustainability Report for the FY 2025-2026
News
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