HP Adhesives Ltd

HP Adhesives Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

HP Adhesives Ltd

₹ 51.5 2.32%
31 Oct - close price
hpadhesives.com BSE: 543433 NSE: HPAL
About

Incorporated in 2021, HP Adhesives Ltd manufactures and distributes adhesives
and sealants along with other ancillary
products[1]

Key Points

Business Overview:[1]
HPAL manufactures solvent cements, synthetic rubber adhesives and PVA adhesives, silicone sealants and gasket shellac & also trades in Ball Valves, PTFE and Masking Tape

Website BSE NSE
  • Market Cap ₹ 473 Cr.
  • Current Price ₹ 51.5
  • High / Low ₹ 88.0 / 42.6
  • Stock P/E 28.8
  • Book Value ₹ 20.0
  • Dividend Yield 0.78 %
  • ROCE 13.6 %
  • ROE 9.82 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 44.9% CAGR over last 5 years

Cons

  • Stock is trading at 2.57 times its book value
  • Company has a low return on equity of 10.3% over last 3 years.

* 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

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
61.64 58.32 55.17 57.86 59.32 62.60 54.75 59.31 60.52 58.87 65.72 66.19 66.13
59.58 54.09 49.48 50.84 53.18 55.26 46.97 50.50 52.95 52.39 59.77 60.59 59.52
Operating Profit 2.06 4.23 5.69 7.02 6.14 7.34 7.78 8.81 7.57 6.48 5.95 5.60 6.61
OPM % 3.34% 7.25% 10.31% 12.13% 10.35% 11.73% 14.21% 14.85% 12.51% 11.01% 9.05% 8.46% 10.00%
1.14 0.17 -0.30 0.56 0.98 1.04 0.62 0.88 1.48 0.17 1.29 1.50 1.05
Interest 0.56 0.71 0.60 0.43 0.23 0.21 0.18 0.56 0.47 0.51 0.58 0.59 0.64
Depreciation 0.77 0.78 0.81 0.88 1.03 1.08 1.11 1.08 1.13 1.15 1.17 1.25 1.41
Profit before tax 1.87 2.91 3.98 6.27 5.86 7.09 7.11 8.05 7.45 4.99 5.49 5.26 5.61
Tax % 26.74% 13.75% 22.11% 38.28% 22.87% 26.09% 26.72% 30.43% 24.30% 17.23% 27.87% 21.86% 24.78%
1.37 2.51 3.10 3.87 4.51 5.24 5.21 5.61 5.63 4.12 3.96 4.12 4.22
EPS in Rs 0.15 0.27 0.34 0.42 0.49 0.57 0.57 0.61 0.61 0.45 0.43 0.45 0.46
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
85 118 165 233 236 251 257
80 106 153 214 205 226 232
Operating Profit 4 12 11 19 31 26 25
OPM % 5% 10% 7% 8% 13% 10% 10%
-5 6 3 2 4 4 4
Interest 3 3 3 2 2 2 2
Depreciation 2 2 3 3 4 5 5
Profit before tax -5 13 8 15 28 23 21
Tax % -13% 24% 26% 28% 27% 23%
-5 10 6 11 21 18 16
EPS in Rs -0.73 1.55 0.65 1.18 2.24 1.94 1.79
Dividend Payout % 0% 0% 0% 0% 13% 21%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 15%
TTM: 8%
Compounded Profit Growth
10 Years: %
5 Years: 45%
3 Years: 42%
TTM: -24%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -14%
1 Year: -38%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 10%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 13 13 18 18 18 18
Reserves -11 -0 119 130 151 166
36 43 19 9 3 8
19 35 40 28 26 36
Total Liabilities 57 90 195 185 198 228
11 19 26 39 52 73
CWIP 1 7 18 17 16 4
Investments 0 0 0 0 18 25
45 64 152 129 111 126
Total Assets 57 90 195 185 198 228

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1 11 -10 -5 22 10
-5 -16 -67 8 -15 -9
4 5 86 -12 -6 2
Net Cash Flow -1 0 9 -10 0 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 86 71 71 58 56 61
Inventory Days 125 146 124 97 118 130
Days Payable 103 116 95 44 40 53
Cash Conversion Cycle 107 100 100 112 134 137
Working Capital Days -48 -19 84 102 106 111
ROCE % 34% 11% 12% 18% 14%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35%
0.50% 0.01% 0.10% 2.81% 0.71% 0.25% 0.08% 0.10% 0.03% 0.16% 0.04% 0.02%
0.57% 0.57% 2.09% 3.72% 3.72% 3.72% 3.72% 3.28% 2.86% 2.82% 1.34% 0.00%
27.58% 28.06% 26.47% 22.12% 24.22% 24.68% 24.86% 25.28% 25.76% 25.66% 27.27% 28.63%
No. of Shareholders 25,14725,15222,91226,75743,68049,90952,08156,36956,88157,83557,43057,134

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Concalls

  • Sep 2023
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