HP Adhesives Ltd.
•₹ 35.031.6%
2026-08-21
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
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SOLARINDS | 19650.00 | 89.29 | 177812.96 | 0.06 | 666.37 | 88.98 | 3668.20 | 70.26 | 38.16 | 27.91 |
| 2. | PIDILITIND | 1662.05 | 63.86 | 169161.84 | 1.29 | 8835.10 | 1202.86 | 45515.50 | 1112.74 | 32.38 | 26.28 |
| 3. | SRF | 2570.50 | 35.25 | 76196.00 | 0.35 | 758.87 | 75.53 | 5033.26 | 34.63 | 14.21 | 24.57 |
| 4. | FLUOROCHEM | 4678.85 | 83.57 | 51397.17 | 0.06 | 219.00 | 19.02 | 1588.00 | 23.97 | 10.02 | 26.83 |
| 5. | NAVINFLUOR | 8250.30 | 53.60 | 42324.05 | 0.18 | 243.31 | 107.67 | 1045.08 | 44.07 | 21.39 | 34.17 |
| 6. | GODREJIND | 1226.50 | 35.14 | 41314.78 | 0.00 | 523.36 | -27.85 | 5448.09 | 22.16 | 10.64 | 12.82 |
| 7. | DEEPAKNTR | 1749.95 | 30.47 | 23868.10 | 0.43 | 345.01 | 207.36 | 2577.60 | 36.39 | 11.58 | 20.96 |
| 8. | AETHER | 1634.55 | 92.24 | 21695.03 | 0.00 | 62.75 | 33.45 | 326.56 | 27.49 | 11.65 | 31.47 |
| 9. | ATUL | 6520.15 | 24.13 | 19196.47 | 0.46 | 253.93 | 91.85 | 1847.95 | 25.03 | 15.05 | 21.41 |
| 10. | AARTIIND | 521.50 | 35.62 | 18916.20 | 0.19 | 155.00 | 260.47 | 2387.00 | 42.42 | 6.39 | 16.00 |
| 11. | DEEPAKFERT | 1458.05 | 18.77 | 18468.08 | 0.69 | 490.04 | 100.95 | 3256.26 | 22.47 | 12.12 | 25.96 |
| 12. | HPAL | 34.74 | 170.04 | 319.17 | 1.15 | -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 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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% |
| 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% |
Jun 2023
- 59
- 53
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 0
- Depreciation
- 1
- 6
- Tax %
- 23.04%
- Net Profit
- 0
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 63
- 55
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 0
- Depreciation
- 1
- 7
- Tax %
- 26.09%
- Net Profit
- 0
- 1
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 55
- 47
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 0
- Depreciation
- 1
- 7
- Tax %
- 26.72%
- Net Profit
- 0
- 1
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 59
- 50
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 8
- Tax %
- 30.40%
- Net Profit
- 0
- 1
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 61
- 53
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 0
- Depreciation
- 1
- 7
- Tax %
- 24.29%
- Net Profit
- 6
- 1
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 59
- 52
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 5
- Tax %
- 17.43%
- Net Profit
- 4
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 67
- 60
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 6
- Tax %
- 27.54%
- Net Profit
- 4
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 66
- 61
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 1
- Depreciation
- 1
- 5
- Tax %
- 25.05%
- Net Profit
- 4
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 66
- 60
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 6
- Tax %
- 24.78%
- Net Profit
- 4
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 65
- 59
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 5
- Tax %
- 26.46%
- Net Profit
- 4
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 65
- 61
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 2
- 2
- Tax %
- 27.68%
- Net Profit
- 2
- 0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 58
- 62
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- -5
- Tax %
- 54.58%
- Net Profit
- -2
- -0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 63
- 66
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- -1
- Tax %
- 33.16%
- Net Profit
- -1
- -0
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 18
- Reserves
- 0
- Promoter Pledge %
- 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 | — |
| Minority Interest | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 |
| Adjusted EPS | 2 | 2 | — |
Mar 2024
- 236
- 205
- Operating Profit
- 34
- OPM %
- 14
- Other Income
- 3
- Interest
- 2
- Depreciation
- 4
- 28
- Tax %
- 27
- Net Profit
- 21
- EPS
- 2
- Dividend Payout %
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2025
- 253
- 227
- Operating Profit
- 31
- OPM %
- 12
- Other Income
- 5
- Interest
- 2
- Depreciation
- 5
- 24
- Tax %
- 23
- Net Profit
- 18
- EPS
- 2
- Dividend Payout %
- 20
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
TTM
- 252
- 248
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 3
- Depreciation
- 6
- 0
- Tax %
- -318
- Net Profit
- 2
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
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:
- -25%
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 |
| 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 |
Mar 2024
- Equity Capital
- 18
- 151
- 0
- Trade Payables
- 16
- 13
- Total Liabilities
- 198
- 52
- Capital Work in Progress
- 16
- 18
- 48
- 36
- Cash & Bank
- 9
- 18
- Total Assets
- 198
- Total Debt
- 1
- Net Working Capital
- 96
- Contingent Liabilities
- 1
- Book Value per Share
- 18.38
- Face Value
- 2.00
- Total Debt
- 1
- Net Working Capital
- 96
- Contingent Liabilities
- 1
- Book Value per Share
- 18.38
- Face Value
- 2.00
Mar 2025
- Equity Capital
- 18
- 166
- 6
- Trade Payables
- 23
- 15
- Total Liabilities
- 228
- 73
- Capital Work in Progress
- 4
- 25
- 56
- 42
- Cash & Bank
- 5
- 23
- Total Assets
- 228
- Total Debt
- 6
- Net Working Capital
- 106
- Contingent Liabilities
- 3
- Book Value per Share
- 20.06
- Face Value
- 2.00
- Total Debt
- 6
- Net Working Capital
- 106
- Contingent Liabilities
- 3
- Book Value per Share
- 20.06
- Face Value
- 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 |
| OCF / Net Profit | 1.05 | 0.54 |
| Cumulative 5-Year FCF | 0 | 0 |
Mar 2024
- 22
- Cash from Investing
- -15
- Cash from Financing
- -6
- 0
- Free Cash Flow
- 22
- OCF / Net Profit
- 1.05
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.05
- Cumulative 5-Year FCF
- 0
Mar 2025
- 10
- Cash from Investing
- -9
- Cash from Financing
- 2
- 2
- Free Cash Flow
- -4
- OCF / Net Profit
- 0.54
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.54
- Cumulative 5-Year FCF
- 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 |
Mar 2024
- EPS (₹)
- 2.24
- Book Value (₹)
- 18.38
- Dividend per Share (₹)
- 0.30
- Cash EPS (₹)
- 2.71
- Operating Margin %
- 13.01%
- Net Margin %
- 8.72%
- ROE %
- 12.18%
- ROCE %
- 17.71%
- 10.41%
- Debtor Days
- 56
- Inventory Days
- 74
- Payable Days
- 40
- 91
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 15.96x
- 4.63x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 42.61x
- P/B (x)
- 5.20x
- Dividend Yield %
- 0.31%
- 25.52x
Mar 2025
- EPS (₹)
- 1.98
- Book Value (₹)
- 20.06
- Dividend per Share (₹)
- 0.40
- Cash EPS (₹)
- 2.50
- Operating Margin %
- 10.10%
- Net Margin %
- 7.21%
- ROE %
- 10.33%
- ROCE %
- 14.40%
- 8.57%
- Debtor Days
- 56
- Inventory Days
- 75
- Payable Days
- 45
- 87
- Debt to Equity (x)
- 0.03x
- Interest Coverage (x)
- 12.03x
- 3.57x
- Revenue Growth %
- 7.19%
- Operating Profit Growth %
- -10.18%
- Net Profit Growth %
- -11.30%
- -11.91%
- P/E (x)
- 24.37x
- P/B (x)
- 2.40x
- Dividend Yield %
- 0.83%
- 14.49x
Documents
Announcements
- Copy of Newspaper Publication
2026-08-15 - HP Adhesives Limited has informed the Exchange about Copy of Newspaper Publication
- Integrated Filing- Financial
2026-08-13 - Integrated Filing - Financial for the quarter ended 30th June, 2026.
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Sep 2023