HP Adhesives Ltd

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

HP Adhesives Ltd

₹ 101 -0.78%
19 Apr - close price
hpadhesives.com BSE: 543433 NSE : HPAL
About

HP Adhesives Limited is an adhesives and sealants company. The company manufactures a wide range of consumer adhesives and sealants such as PVC, cPVC, and uPVC solvent cement, synthetic rubber adhesive, PVA adhesives, silicone sealant, acrylic sealant, gasket shellac, other sealants, and PVC pipe lubricants. Apart from the above products, the company also sells ancillary products like ball valves, thread seals, and other tapes and FRP products for drainage and architectural solutions.[1]

Key Points

Leading Adhesive company
HP Adhesives Ltd. is a fast-growing multi-product, multi-category consumer adhesives, and sealants company, for PVC solvent cement products the company is amongst the leading manufacturing companies in India in the consumer segment of the adhesive industry. [1]

Website BSE NSE
  • Market Cap ₹ 930 Cr.
  • Current Price ₹ 101
  • High / Low ₹ 131 / 69.0
  • Stock P/E 49.8
  • Book Value ₹ 17.2
  • Dividend Yield 0.00 %
  • ROCE 12.0 %
  • ROE 8.29 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 12.4% 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

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
34.65 38.59 23.92 46.59 43.66 50.42 61.64 58.32 55.17 57.86 59.32 62.60 54.75
30.86 34.66 22.27 43.12 39.42 48.49 59.58 54.09 49.48 50.84 53.18 55.26 46.97
Operating Profit 3.79 3.93 1.65 3.47 4.24 1.93 2.06 4.23 5.69 7.02 6.14 7.34 7.78
OPM % 10.94% 10.18% 6.90% 7.45% 9.71% 3.83% 3.34% 7.25% 10.31% 12.13% 10.35% 11.73% 14.21%
1.16 2.73 -0.80 3.02 0.21 0.40 1.14 0.17 -0.30 0.56 0.98 1.04 0.62
Interest 0.54 0.90 0.68 1.04 0.80 0.61 0.56 0.71 0.60 0.43 0.23 0.21 0.18
Depreciation 0.41 0.45 0.69 0.72 0.74 0.69 0.77 0.78 0.81 0.88 1.03 1.08 1.11
Profit before tax 4.00 5.31 -0.52 4.73 2.91 1.03 1.87 2.91 3.98 6.27 5.86 7.09 7.11
Tax % 21.50% 24.86% 21.15% 25.79% 26.12% 33.01% 26.74% 13.75% 22.11% 38.28% 22.87% 26.09% 26.72%
3.13 4.00 -0.41 3.51 2.15 0.69 1.37 2.51 3.10 3.87 4.51 5.24 5.21
EPS in Rs 0.48 0.62 -0.06 0.49 0.23 0.08 0.15 0.27 0.34 0.42 0.49 0.57 0.57
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
85 118 165 233 235
80 106 153 214 206
Operating Profit 4 12 11 19 28
OPM % 5% 10% 7% 8% 12%
-5 6 3 2 3
Interest 3 3 3 2 1
Depreciation 2 2 3 3 4
Profit before tax -5 13 8 15 26
Tax % 13% 24% 26% 28%
-5 10 6 11 19
EPS in Rs -0.73 1.55 0.65 1.18 2.05
Dividend Payout % 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 40%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 63%
TTM: 113%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 39%
Return on Equity
10 Years: %
5 Years: %
3 Years: 12%
Last Year: 8%

Balance Sheet

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 13 13 18 18 18
Reserves -11 -0 119 130 140
36 43 19 9 7
19 35 40 28 27
Total Liabilities 57 90 195 185 192
11 19 26 39 41
CWIP 1 7 18 17 20
Investments 0 0 0 0 8
45 64 152 129 123
Total Assets 57 90 195 185 192

Cash Flows

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023
1 11 -10 -5
-5 -16 -67 8
4 5 86 -12
Net Cash Flow -1 0 9 -10

Ratios

Figures in Rs. Crores

Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 86 71 71 58
Inventory Days 125 146 124 97
Days Payable 103 116 95 44
Cash Conversion Cycle 107 100 100 112
Working Capital Days 97 85 107 107
ROCE % 34% 11% 12%

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35% 71.35%
11.79% 5.43% 5.01% 4.08% 0.50% 0.01% 0.10% 2.81% 0.71% 0.25%
0.00% 0.00% 0.00% 0.57% 0.57% 0.57% 2.09% 3.72% 3.72% 3.72%
16.87% 23.22% 23.64% 23.99% 27.58% 28.06% 26.47% 22.12% 24.22% 24.68%
No. of Shareholders 9,99125,71026,11625,95225,14725,15222,91226,75743,68049,909

* 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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Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls

  • Sep 2023
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