Hindustan Adhesives Ltd
Incorporated in 1988, Hindustan Adhesive
Ltd manufactures and supplies Carton
Sealing Tapes and Adhesive Coated
products[1]
- Market Cap ₹ 178 Cr.
- Current Price ₹ 347
- High / Low ₹ 488 / 281
- Stock P/E 11.2
- Book Value ₹ 163
- Dividend Yield 0.00 %
- ROCE 20.6 %
- ROE 24.1 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 47.1% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Debtor days have increased from 38.6 to 48.0 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Plastic Products - Industrial
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 76 | 78 | 76 | 69 | 74 | 76 | 140 | 153 | 214 | 449 | 321 | 303 | 293 | |
| 68 | 69 | 67 | 59 | 63 | 68 | 129 | 141 | 192 | 416 | 301 | 271 | 261 | |
| Operating Profit | 8 | 8 | 9 | 10 | 11 | 8 | 11 | 12 | 21 | 33 | 20 | 33 | 32 |
| OPM % | 10% | 11% | 12% | 14% | 15% | 11% | 8% | 8% | 10% | 7% | 6% | 11% | 11% |
| 0 | 0 | 0 | 0 | 1 | 1 | 4 | 6 | 7 | 4 | 3 | 3 | 4 | |
| Interest | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 6 | 8 | 7 | 5 | 6 |
| Depreciation | 2 | 2 | 4 | 3 | 3 | 3 | 6 | 7 | 8 | 11 | 11 | 9 | 9 |
| Profit before tax | 2 | 3 | 3 | 3 | 5 | 3 | 4 | 6 | 14 | 18 | 6 | 22 | 20 |
| Tax % | 35% | 25% | 38% | 35% | 8% | 26% | 33% | -15% | 36% | 31% | 16% | 25% | |
| 2 | 2 | 2 | 2 | 5 | 2 | 2 | 7 | 9 | 13 | 5 | 16 | 16 | |
| EPS in Rs | 3.09 | 4.67 | 3.07 | 4.14 | 9.60 | 4.87 | 4.63 | 12.86 | 17.10 | 24.47 | 9.50 | 32.07 | 30.98 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 10% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 17% |
| 3 Years: | 12% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 47% |
| 3 Years: | 23% |
| TTM: | 16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 28% |
| 5 Years: | 39% |
| 3 Years: | -5% |
| 1 Year: | -9% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 20% |
| 3 Years: | 19% |
| Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves | 8 | 11 | 12 | 14 | 19 | 22 | 24 | 30 | 38 | 50 | 55 | 71 | 78 |
| 21 | 24 | 22 | 21 | 21 | 49 | 54 | 70 | 84 | 80 | 66 | 60 | 71 | |
| 12 | 14 | 15 | 12 | 13 | 20 | 28 | 21 | 37 | 66 | 42 | 44 | 49 | |
| Total Liabilities | 46 | 54 | 54 | 53 | 58 | 96 | 111 | 126 | 164 | 201 | 168 | 180 | 204 |
| 23 | 22 | 24 | 22 | 23 | 21 | 56 | 62 | 76 | 80 | 77 | 72 | 72 | |
| CWIP | 0 | 0 | 0 | 0 | 1 | 32 | 0 | 11 | 0 | 0 | 0 | 0 | 4 |
| Investments | 0 | 0 | 0 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 3 | 15 | 17 |
| 24 | 32 | 30 | 29 | 32 | 42 | 54 | 52 | 86 | 120 | 88 | 93 | 111 | |
| Total Assets | 46 | 54 | 54 | 53 | 58 | 96 | 111 | 126 | 164 | 201 | 168 | 180 | 204 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 3 | 10 | 8 | 7 | 5 | 11 | 10 | 6 | 25 | 27 | 27 | |
| -1 | -2 | -6 | -3 | -5 | -31 | -10 | -23 | -12 | -15 | -10 | -15 | |
| -4 | -0 | -4 | -5 | -3 | 26 | -1 | 12 | 8 | -10 | -20 | -10 | |
| Net Cash Flow | 0 | 1 | -0 | 0 | -1 | 1 | 1 | -1 | 2 | -0 | -2 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 55 | 67 | 63 | 62 | 70 | 74 | 59 | 43 | 55 | 38 | 29 | 48 |
| Inventory Days | 65 | 79 | 99 | 126 | 120 | 162 | 88 | 75 | 68 | 56 | 86 | 72 |
| Days Payable | 59 | 76 | 78 | 72 | 79 | 122 | 80 | 41 | 55 | 47 | 42 | 47 |
| Cash Conversion Cycle | 61 | 69 | 84 | 115 | 110 | 114 | 67 | 77 | 68 | 47 | 74 | 72 |
| Working Capital Days | 61 | 74 | 79 | 87 | 99 | 107 | 69 | 75 | 76 | 41 | 53 | 56 |
| ROCE % | 17% | 18% | 15% | 17% | 19% | 10% | 11% | 12% | 17% | 20% | 10% | 21% |
Documents
Announcements
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Disclosure Of Reason For Delay In Submission Of Audited Financial Results For The Quarter And Financial Year Ended On March 31, 2025 Pursuant To The SEBI ('SEBI') Circular CIR/CFD/CMD-1/142/2018 Dated November 19, 2018.
2d - Delay in audited results due to ERP transition; board meeting rescheduled to June 30, 2025.
-
Board Meeting Intimation for Regulation 29 Of SEBI (Listing Obligation And Disclosure Requirements) Regulation, 2015 And Our Letter Dated May 30Th, 2025
2d - Board Meeting rescheduled to June 30, 2025; trading window opens July 3, 2025 due to ERP transition.
-
Disclosure Of Reason For Delay In Submission Of Audited Financial Results For The Quarter And Financial Year Ended On March 31, 2025 Pursuant To The SEBI ('SEBI') Circular CIR/CFD/CMD-1/142/2018 Dated November 19, 2018.
30 May - Delay in audited results due to ERP transition; audit ongoing, submission pending.
-
Board Meeting Intimation for Regulation 29 Of SEBI (Listing Obligation And Disclosure Requirements) Regulation, 2015 And Our Letter Dated May 23Rd, 2025
30 May - Board meeting rescheduled to June 9; trading window opens June 12 after financial system transition.
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
29 May - Annual Secretarial Compliance Report for FY 2025; minor delay in financial results submission, fine paid.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Business Overview:[1]
HAL is a part of Bagla Group. It is an integrated producer of Carton Sealing Tapes, BOPP Adhesive Tapes with both Acrylic and Hot-Melt technology. It also
has its own adhesive making facility along with facilities for making paper cores and cartons in-house, besides multiple printing equipments, slitting and spooling facilities to make many value added import substitute products for domestic and international markets. Company also produces specialty tapes like Filament Tapes, Carry Handle Tapes, Tear Tapes, Tamper evident Tapes, etc.