HP Adhesives Ltd.

•

hpadhesives.comBSE: 543433NSE: HPAL

Market Cap₹ 324 Cr.

Current Price

High / Low₹ 53 / 27

Stock P/E172.4

Book Value₹ 20

Price to Book2.40

Dividend Yield1.14 %

ROCE14.4 %

ROE10.3 %

Face Value₹ 2

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ABOUT

AI Sector View

AI GENERATED

Chemicals

Hold

The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.

Confidence

55%

View full sector analysis →

PROS

Company is almost debt free
Company comfortably covers its interest (12.0x coverage)

CONS

Recent results are weak - TTM profit is down 88.4% versus prior year

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ChemicalsChemicalsChemicals

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	SOLARINDS	20550.00	93.38	185957.06	0.05	666.37	88.98	3668.20	70.26	38.16	27.91
2.	PIDILITIND	1636.40	62.88	166565.83	1.31	8835.10	1202.86	45515.50	1112.74	32.38	26.28
3.	SRF	2597.00	35.61	76981.53	0.35	758.87	75.53	5033.26	34.63	14.21	24.57
4.	FLUOROCHEM	4731.25	84.51	51972.78	0.06	219.00	19.02	1588.00	23.97	9.58	26.83
5.	NAVINFLUOR	8538.25	55.47	43808.15	0.18	243.31	107.67	1045.08	44.07	21.39	34.17
6.	GODREJIND	1138.55	32.62	38352.18	0.00	523.36	-27.85	5448.09	22.16	10.64	12.82
7.	DEEPAKNTR	1733.65	30.19	23645.78	0.43	345.01	207.36	2577.60	36.39	11.58	20.96
8.	AETHER	1646.05	92.89	21847.67	0.00	62.75	33.45	326.56	27.49	11.65	31.47
9.	ATUL	6484.40	24.00	19091.21	0.46	253.93	91.85	1847.95	25.03	15.05	21.41
10.	AARTIIND	505.45	34.53	18334.02	0.20	155.00	260.47	2387.00	42.42	6.95	16.00
11.	DEEPAKFERT	1417.10	18.24	17949.40	0.71	490.04	100.95	3256.26	22.47	12.12	25.96
12.	HPAL	35.23	172.44	323.67	1.14	-0.91	-121.60	63.42	-4.08	14.40	-0.53

Detailed Comparison with:

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
	59	63	55	59	61	59	67	66	66	65	65	58	63
	53	55	47	50	53	52	60	61	60	59	61	62	66
Operating Profit	6	8	8	9	8	7	6	5	7	6	3	-4	-0
OPM %	10.59%	12.44%	14.21%	14.87%	12.44%	11.08%	9.42%	7.71%	9.88%	8.81%	4.54%	-6.50%	-0.53%
Other Income	1	1	1	1	1	0	1	2	1	1	1	1	1
Interest	0	0	0	1	0	1	1	1	1	1	1	1	1
Depreciation	1	1	1	1	1	1	1	1	1	1	2	1	1
	6	7	7	8	7	5	6	5	6	5	2	-5	-1
Tax %	23.04%	26.09%	26.72%	30.40%	24.29%	17.43%	27.54%	25.05%	24.78%	26.46%	27.68%	54.58%	33.16%
Net Profit	0	0	0	0	6	4	4	4	4	4	2	-2	-1
	0	1	1	1	1	0	0	0	0	0	0	-0	-0
Equity Capital	18	18	18	18	18	18	18	18	18	18	18	18	18
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025	TTM
	236	253	252
	205	227	248
Operating Profit	34	31	—
OPM %	14	12	—
Other Income	3	5	4
Interest	2	2	3
Depreciation	4	5	6
	28	24	0
Tax %	27	23	-318
Net Profit	21	18	2
EPS	2	2	—
Dividend Payout %	13	20	—
Minority Interest	0	0	0
Share of Associates	0	0	0
Adjusted EPS	2	2	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -31%
1 Year:: -22%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: —
Last Year:: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025
LIABILITIES	-	-
Equity Capital	18	18
	151	166
	0	6
Trade Payables	16	23
	13	15
Total Liabilities	198	228
ASSETS	-	-
	52	73
Capital Work in Progress	16	4
	18	25
	48	56
	36	42
Cash & Bank	9	5
	18	23
Total Assets	198	228
Total Debt	1	6
Net Working Capital	96	106
Contingent Liabilities	1	3
Book Value per Share	18.38	20.06
Face Value	2.00	2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025
	22	10
Cash from Investing	-15	-9
Cash from Financing	-6	2
	0	2
Free Cash Flow	22	-4
OCF / Net Profit	1.05	0.54
Cumulative 5-Year FCF	0	0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	2.24	1.98
Book Value (₹)	18.38	20.06
Dividend per Share (₹)	0.30	0.40
Cash EPS (₹)	2.71	2.50
PROFITABILITY
Operating Margin %	13.01%	10.10%
Net Margin %	8.72%	7.21%
ROE %	12.18%	10.33%
ROCE %	17.71%	14.40%
	10.41%	8.57%
EFFICIENCY
Debtor Days	56	56
Inventory Days	74	75
Payable Days	40	45
	91	87
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.03x
Interest Coverage (x)	15.96x	12.03x
	4.63x	3.57x
GROWTH
Revenue Growth %	0.00%	7.19%
Operating Profit Growth %	0.00%	-10.18%
Net Profit Growth %	0.00%	-11.30%
	0.00%	-11.91%
VALUATION
P/E (x)	42.61x	24.37x
P/B (x)	5.20x	2.40x
Dividend Yield %	0.31%	0.83%
	25.52x	14.49x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.35	71.35	71.35	71.35	71.35	71.35	71.35	71.35	71.35
	0.08	0.10	0.03	0.16	0.04	0.02	0.01	0.02	0.01
	3.72	3.28	2.86	2.82	1.34	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.86	25.27	25.76	25.67	27.28	28.63	28.64	28.63	28.64

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-01

Copy of Newspaper Publication

2026-09-01 - HP Adhesives Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-31

Updates

2026-08-31 - HP Adhesives Limited has informed the Exchange regarding 'Annual Report for the FY 2025-26'.

2026-08-31

Updates

2026-08-31 - HP Adhesives Limited has informed the Exchange regarding 'Intimation of sending Physical Letters to shareholders'.

2026-08-31

Shareholders meeting

2026-08-31 - HP Adhesives Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 22, 2026

2026-08-31

Record Date

2026-08-31 - HP Adhesives Limited has informed the Exchange that Record date for the purpose of Dividend is 15-Sep-2026.

2026-08-29

Copy of Newspaper Publication

2026-08-29 - HP Adhesives Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-28

General Updates

2026-08-28 - HP Adhesives Limited has informed the Exchange about General Updates

2026-08-15

Copy of Newspaper Publication

2026-08-15 - HP Adhesives Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13

Integrated Filing- Financial

2026-08-13 - Integrated Filing - Financial for the quarter ended 30th June, 2026.

News

Recent coverage and analyst commentary for HPAL

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HP Adhesives Ltd.

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Free 5nance Account

Name

SOLARINDS

20550.00

93.38

185957.06

0.05

666.37

88.98

3668.20

70.26

38.16

27.91

PIDILITIND

1636.40

62.88

166565.83

1.31

8835.10

1202.86

45515.50

1112.74

32.38

26.28

SRF

2597.00

35.61

76981.53

0.35

758.87

75.53

5033.26

34.63

14.21

24.57

FLUOROCHEM

4731.25

84.51

51972.78

0.06

219.00

19.02

1588.00

23.97

9.58

26.83

NAVINFLUOR

8538.25

55.47

43808.15

0.18

243.31

107.67

1045.08

44.07

21.39

34.17

GODREJIND

1138.55

32.62

38352.18

0.00

523.36

-27.85

5448.09

22.16

10.64

12.82

DEEPAKNTR

1733.65

30.19

23645.78

0.43

345.01

207.36

2577.60

36.39

11.58

20.96

AETHER

1646.05

92.89

21847.67

0.00

62.75

33.45

326.56

27.49

11.65

31.47

ATUL

6484.40

24.00

19091.21

0.46

253.93

91.85

1847.95

25.03

15.05

21.41

AARTIIND

505.45

34.53

18334.02

0.20

155.00

260.47

2387.00

42.42

6.95

16.00

DEEPAKFERT

1417.10

18.24

17949.40

0.71

490.04

100.95

3256.26

22.47

12.12

25.96

HPAL

35.23

172.44

323.67

1.14

-0.91

-121.60

63.42

-4.08

14.40

-0.53

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

Operating Profit

-4

-0

OPM %

10.59%

12.44%

14.21%

14.87%

12.44%

11.08%

9.42%

7.71%

9.88%

8.81%

4.54%

-6.50%

-0.53%

Other Income

Interest

Depreciation

-5

-1

Tax %

23.04%

26.09%

26.72%

30.40%

24.29%

17.43%

27.54%

25.05%

24.78%

26.46%

27.68%

54.58%

33.16%

Net Profit

-2

-1

-0

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2024

Mar 2025

TTM

236

253

252

205

227

248

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

-318

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

Share of Associates

Adjusted EPS

—

Mar 2024

Mar 2025

LIABILITIES

Equity Capital

151

166

Trade Payables

Total Liabilities

198

228

ASSETS

Capital Work in Progress

Cash & Bank

Total Assets

198

228

Total Debt

Net Working Capital

106

Contingent Liabilities

Book Value per Share

18.38

20.06

Face Value

2.00

Mar 2024

Mar 2025

Cash from Investing

-15

-9

Cash from Financing

-6

Free Cash Flow

-4

OCF / Net Profit

1.05

0.54

Cumulative 5-Year FCF

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

2.24

1.98

Book Value (₹)

18.38

20.06

Dividend per Share (₹)

0.30

0.40

Cash EPS (₹)

2.71

2.50

PROFITABILITY

Operating Margin %

13.01%

10.10%

Net Margin %

8.72%

7.21%

ROE %

12.18%

10.33%

ROCE %

17.71%

14.40%

10.41%

8.57%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.00x

0.03x

Interest Coverage (x)

15.96x

12.03x

4.63x

3.57x

GROWTH

Revenue Growth %

0.00%

7.19%

Operating Profit Growth %

0.00%

-10.18%

Net Profit Growth %

0.00%

-11.30%

0.00%

-11.91%

VALUATION

P/E (x)

42.61x

24.37x

P/B (x)

5.20x

2.40x

Dividend Yield %

0.31%

0.83%

25.52x

14.49x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

71.35

0.08

0.10

0.03

0.16

0.04

0.02

0.01

0.02

0.01

3.72

3.28

2.86

2.82

1.34

0.00

Government

0.00

24.86

25.27

25.76

25.67

27.28

28.63

28.64

28.63

28.64

HP Adhesives Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

HP Adhesives Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI