Huhtamaki India Ltd
Having started its journey in 1935 , Huhtamaki is India's leading manufacturer and supplier of sustainable, flexible and innovative solutions in packaging and labelling products.
It is the largest manufacturer of finished flexible packaging in terms of volume in the continent of Africa, India, Asia Pacific exluding Japan.
It became member of Huhtamaki Packaging worldwide in 1999. From Paper Products Limited to Huhtamaki PPL ltd, company has demonstrated the qualities of integrity, transparency & responsibility. [1]
- Market Cap ₹ 1,295 Cr.
- Current Price ₹ 171
- High / Low ₹ 273 / 168
- Stock P/E 11.0
- Book Value ₹ 163
- Dividend Yield 1.17 %
- ROCE 13.0 %
- ROE 9.84 %
- Face Value ₹ 2.00
Pros
- Stock is trading at 1.05 times its book value
Cons
- The company has delivered a poor sales growth of 0.05% over past five years.
- Company has a low return on equity of 9.10% 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
Industrials Capital Goods Industrial Products Packaging
Part of BSE Allcap BSE Industrials
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,135 | 1,151 | 2,181 | 2,131 | 2,369 | 2,599 | 2,463 | 2,625 | 2,983 | 2,549 | 2,521 | 2,469 | |
| 1,033 | 1,030 | 1,931 | 1,911 | 2,146 | 2,305 | 2,228 | 2,515 | 2,825 | 2,354 | 2,403 | 2,279 | |
| Operating Profit | 102 | 121 | 251 | 220 | 223 | 294 | 235 | 110 | 158 | 195 | 118 | 191 |
| OPM % | 9% | 11% | 11% | 10% | 9% | 11% | 10% | 4% | 5% | 8% | 5% | 8% |
| 16 | 13 | 15 | 13 | 17 | 17 | 8 | -22 | 17 | 385 | 65 | 36 | |
| Interest | 1 | 26 | 39 | 33 | 41 | 23 | 27 | 28 | 33 | 31 | 18 | 17 |
| Depreciation | 36 | 39 | 93 | 85 | 85 | 87 | 98 | 92 | 86 | 49 | 47 | 52 |
| Profit before tax | 81 | 68 | 133 | 115 | 114 | 202 | 118 | -32 | 56 | 500 | 117 | 158 |
| Tax % | 21% | 28% | 39% | 45% | 69% | 16% | 18% | -28% | 11% | 18% | 25% | 25% |
| 65 | 49 | 82 | 64 | 35 | 170 | 96 | -23 | 50 | 410 | 88 | 118 | |
| EPS in Rs | 8.89 | 6.75 | 11.21 | 8.42 | 4.62 | 22.52 | 12.71 | -3.00 | 6.57 | 54.24 | 11.65 | 15.65 |
| Dividend Payout % | 32% | 41% | 27% | 36% | 65% | 13% | 24% | -33% | 30% | 9% | 17% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 0% |
| 3 Years: | -6% |
| TTM: | -2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 5% |
| 3 Years: | 36% |
| TTM: | 95% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | -10% |
| 3 Years: | -5% |
| 1 Year: | -4% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 7% |
| 3 Years: | 9% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Jun 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 549 | 572 | 495 | 534 | 541 | 682 | 750 | 701 | 742 | 1,135 | 1,178 | 1,215 |
| 19 | 402 | 435 | 406 | 403 | 273 | 295 | 409 | 410 | 255 | 149 | 149 | |
| 226 | 298 | 501 | 480 | 491 | 544 | 523 | 684 | 584 | 596 | 595 | 594 | |
| Total Liabilities | 809 | 1,288 | 1,446 | 1,435 | 1,451 | 1,514 | 1,583 | 1,808 | 1,751 | 2,001 | 1,937 | 1,973 |
| 203 | 186 | 465 | 437 | 518 | 486 | 561 | 537 | 479 | 483 | 598 | 619 | |
| CWIP | 6 | 3 | 2 | 2 | 4 | 8 | 16 | 43 | 35 | 131 | 40 | 31 |
| Investments | 225 | 755 | 195 | 138 | 21 | 61 | 18 | 1 | 0 | 80 | 151 | 125 |
| 375 | 343 | 784 | 858 | 908 | 959 | 987 | 1,228 | 1,237 | 1,307 | 1,148 | 1,197 | |
| Total Assets | 809 | 1,288 | 1,446 | 1,435 | 1,451 | 1,514 | 1,583 | 1,808 | 1,751 | 2,001 | 1,937 | 1,973 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 79 | 136 | 166 | 96 | 101 | 285 | 169 | -28 | 133 | 274 | 142 | ||
| -195 | -482 | -0 | 5 | -29 | -88 | -73 | -56 | -90 | 40 | -77 | ||
| 112 | 346 | -150 | -87 | -68 | -200 | -74 | 49 | -32 | -211 | -161 | ||
| Net Cash Flow | -4 | -1 | 16 | 13 | 3 | -3 | 22 | -35 | 11 | 102 | -96 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 70 | 69 | 77 | 90 | 88 | 87 | 79 | 88 | 81 | 79 | 83 | |
| Inventory Days | 42 | 38 | 45 | 49 | 48 | 38 | 52 | 68 | 50 | 57 | 52 | |
| Days Payable | 69 | 70 | 81 | 93 | 82 | 91 | 93 | 112 | 80 | 98 | 100 | |
| Cash Conversion Cycle | 43 | 37 | 42 | 46 | 54 | 35 | 38 | 43 | 51 | 37 | 35 | |
| Working Capital Days | 38 | 17 | 31 | 49 | 51 | 19 | 29 | 34 | 34 | 41 | 41 | |
| ROCE % | 15% | 12% | 18% | 16% | 15% | 22% | 14% | 2% | 7% | 12% | 7% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
9h - Newspaper Publication with respect to shares to be transferred to IEPF
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Compliances-Reg.24(A)-Annual Secretarial Compliance
27 Feb - Annual Secretarial Compliance Report (24 Feb 2026) for year ended Dec 31, 2025 submitted by BNP & Associates.
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Announcement under Regulation 30 (LODR)-Change in Management
27 Feb - Anil Kaul appointed CFO of Huhtamaki India effective Feb 27, 2026; ~25 years finance experience.
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Disclosure Under Regulation 30 Of SEBI Listing Regulations, 2015
23 Feb - Jigani municipal demand notice (Feb 20, 2026) seeks Rs.1,06,70,038 penalty for 2014–2025 property tax.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
17 Feb - Transcripts of the Earnings Call for the 4th quarter and year ended December 31, 2025.
Annual reports
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Financial Year 2024
from bse
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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
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Concalls
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Feb 2026Transcript PPT
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Oct 2025Transcript PPT REC
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Jul 2025Transcript PPT
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Apr 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Oct 2024Transcript PPT
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Jul 2024TranscriptPPT
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Jul 2024Transcript PPT
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Jul 2024TranscriptAI SummaryPPT
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Apr 2024Transcript PPT
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Feb 2024Transcript PPT
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Oct 2023Transcript PPT REC
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Jul 2023Transcript PPT REC
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May 2023Transcript PPT
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Aug 2019TranscriptPPT
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Mar 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Mar 2018TranscriptPPT
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Nov 2017TranscriptPPT
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Aug 2017TranscriptPPT
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May 2017TranscriptPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
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Feb 2016TranscriptPPT
Product portfolio
The company offers a wide portfolio of packaging solutions that include flexible packaging, pouching solutions, labelling technologies, shrink sleeve solutions, specialized cartons, packaging machines, tube laminates, promotional, holographic and security solutions, cylinders, and specialized films for high barriers. [1]