HP Adhesives Ltd

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

HP Adhesives Ltd

₹ 36.0 -2.49%
29 May - 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 ₹ 331 Cr.
  • Current Price ₹ 36.0
  • High / Low ₹ 54.6 / 26.3
  • Stock P/E 44.2
  • Book Value ₹ 20.4
  • Dividend Yield 1.11 %
  • ROCE 5.61 %
  • ROE 4.03 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.1%

Cons

  • Tax rate seems low
  • Company has a low return on equity of 8.60% over last 3 years.
  • Company's cost of borrowing seems high

* 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

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
57.86 59.32 62.60 54.75 59.31 60.52 58.87 65.72 65.44 66.13 65.13 61.39 57.70
50.84 53.18 55.26 46.97 50.50 52.95 52.39 59.77 59.92 59.52 58.73 57.58 61.42
Operating Profit 7.02 6.14 7.34 7.78 8.81 7.57 6.48 5.95 5.52 6.61 6.40 3.81 -3.72
OPM % 12.13% 10.35% 11.73% 14.21% 14.85% 12.51% 11.01% 9.05% 8.44% 10.00% 9.83% 6.21% -6.45%
0.56 0.98 1.04 0.62 0.88 1.48 0.17 1.29 1.58 1.05 0.47 0.44 0.67
Interest 0.43 0.23 0.21 0.18 0.56 0.47 0.51 0.58 0.59 0.64 0.63 0.64 0.75
Depreciation 0.88 1.03 1.08 1.11 1.08 1.13 1.15 1.17 1.25 1.41 1.45 1.50 1.45
Profit before tax 6.27 5.86 7.09 7.11 8.05 7.45 4.99 5.49 5.26 5.61 4.79 2.11 -5.25
Tax % 38.28% 22.87% 26.09% 26.72% 30.43% 24.30% 17.23% 27.87% 21.86% 24.78% 25.89% 28.91% -54.48%
3.87 4.51 5.24 5.21 5.61 5.63 4.12 3.96 4.12 4.22 3.55 1.50 -2.39
EPS in Rs 0.42 0.49 0.57 0.57 0.61 0.61 0.45 0.43 0.45 0.46 0.39 0.16 -0.26
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
85 118 165 233 236 251 249
80 106 153 214 205 226 236
Operating Profit 4 12 11 19 31 26 13
OPM % 5% 10% 7% 8% 13% 10% 5%
-5 6 3 2 4 4 3
Interest 3 3 3 2 2 2 3
Depreciation 2 2 3 3 4 5 6
Profit before tax -5 13 8 15 28 23 7
Tax % -13% 24% 26% 28% 27% 23% 5%
-5 10 6 11 21 18 7
EPS in Rs -0.73 1.55 0.65 1.18 2.24 1.94 0.75
Dividend Payout % 0% 0% 0% 0% 13% 21% 53%
Compounded Sales Growth
10 Years: %
5 Years: 16%
3 Years: 2%
TTM: -1%
Compounded Profit Growth
10 Years: %
5 Years: -6%
3 Years: -14%
TTM: -57%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -25%
1 Year: -30%
Return on Equity
10 Years: %
5 Years: 8%
3 Years: 9%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 13 13 18 18 18 18 18
Reserves -11 -0 119 130 151 166 169
36 43 19 9 3 8 4
19 35 40 28 26 36 40
Total Liabilities 57 90 195 185 198 228 232
11 19 26 39 52 73 72
CWIP 1 7 18 17 16 4 5
Investments 0 0 0 0 18 25 22
45 64 152 129 111 126 132
Total Assets 57 90 195 185 198 228 232

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1 11 -10 -5 22 10 7
-5 -16 -67 8 -15 -9 -2
4 5 86 -12 -6 2 -8
Net Cash Flow -1 0 9 -10 0 2 -2
Free Cash Flow -4 -5 -26 -21 5 -4 -6
CFO/OP 19% 114% -71% -9% 94% 64% 82%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 86 71 71 58 56 61 55
Inventory Days 125 146 124 97 118 130 119
Days Payable 103 116 95 44 40 53 66
Cash Conversion Cycle 107 100 100 112 134 137 108
Working Capital Days -48 -19 84 102 106 111 148
ROCE % 34% 11% 12% 18% 14% 6%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Installed Capacity
MTPA

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Number of Distributors
Units
Number of SKUs (Solvent Cement)
Units
Presence in Countries (Exports)
Units
Revenue Break-up: Silicone Sealants
INR Lakhs
Revenue Break-up: Solvent Cement
INR Lakhs
Sales Force Strength
Units
Total Employee Count
Units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35%
0.10% 2.81% 0.71% 0.25% 0.08% 0.10% 0.03% 0.16% 0.04% 0.02% 0.01% 0.02%
2.09% 3.72% 3.72% 3.72% 3.72% 3.28% 2.86% 2.82% 1.34% 0.00% 0.00% 0.00%
26.47% 22.12% 24.22% 24.68% 24.86% 25.28% 25.76% 25.66% 27.27% 28.63% 28.64% 28.63%
No. of Shareholders 22,91226,75743,68049,90952,08156,36956,88157,83557,43057,13455,42653,662

* 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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  • Sep 2023
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