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 ₹ 1,770 Cr.
- Current Price ₹ 234
- High / Low ₹ 330 / 149
- Stock P/E 13.0
- Book Value ₹ 179
- Dividend Yield 0.84 %
- ROCE 12.0 %
- ROE 8.96 %
- Face Value ₹ 2.00
Pros
Cons
- The company has delivered a poor sales growth of 0.05% over past five years.
- Company has a low return on equity of 8.79% 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.
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,135 | 1,151 | 2,181 | 2,131 | 2,369 | 2,599 | 2,463 | 2,625 | 2,983 | 2,549 | 2,521 | 2,469 | 2,610 | |
| 1,033 | 1,030 | 1,931 | 1,911 | 2,146 | 2,305 | 2,228 | 2,515 | 2,825 | 2,354 | 2,403 | 2,278 | 2,386 | |
| Operating Profit | 102 | 121 | 251 | 220 | 223 | 294 | 235 | 110 | 158 | 195 | 118 | 192 | 225 |
| OPM % | 9% | 11% | 11% | 10% | 9% | 11% | 10% | 4.2% | 5% | 8% | 4.7% | 8% | 9% |
| 16 | 13 | 15 | 13 | 17 | 17 | 8 | -22 | 17 | 385 | 65 | 36 | 41 | |
| Interest | 1 | 26 | 39 | 33 | 41 | 23 | 27 | 28 | 33 | 31 | 18 | 17 | 17 |
| Depreciation | 36 | 39 | 93 | 85 | 85 | 87 | 98 | 92 | 86 | 49 | 47 | 52 | 64 |
| Profit before tax | 81 | 68 | 133 | 115 | 114 | 202 | 118 | -32 | 56 | 500 | 117 | 158 | 184 |
| 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 | 136 | |
| 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 | 18.06 |
| Dividend Payout % | 32% | 41% | 27% | 36% | 65% | 13% | 24% | -33% | 30% | 9% | 17% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 8% |
| 5 Years: | 0% |
| 3 Years: | -6% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 4% |
| 3 Years: | 34% |
| TTM: | 87% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | -2% |
| 3 Years: | -3% |
| 1 Year: | 1% |
| Return on Equity | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 7% |
| 3 Years: | 9% |
| Last Year: | 9% |
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 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 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 | 1,278 | 1,334 |
| 19 | 402 | 435 | 406 | 403 | 273 | 295 | 409 | 410 | 255 | 149 | 144 | 145 | |
| 226 | 298 | 501 | 480 | 491 | 544 | 523 | 684 | 584 | 596 | 595 | 567 | 722 | |
| Total Liabilities | 809 | 1,288 | 1,446 | 1,435 | 1,451 | 1,514 | 1,583 | 1,808 | 1,751 | 2,001 | 1,937 | 2,004 | 2,216 |
| 203 | 186 | 465 | 437 | 518 | 486 | 561 | 537 | 479 | 483 | 598 | 604 | 600 | |
| CWIP | 6 | 3 | 2 | 2 | 4 | 8 | 16 | 43 | 35 | 131 | 40 | 35 | 8 |
| Investments | 225 | 755 | 195 | 138 | 21 | 61 | 18 | 1 | 0 | 80 | 151 | 194 | 128 |
| 375 | 343 | 784 | 858 | 908 | 959 | 987 | 1,228 | 1,237 | 1,307 | 1,148 | 1,171 | 1,479 | |
| Total Assets | 809 | 1,288 | 1,446 | 1,435 | 1,451 | 1,514 | 1,583 | 1,808 | 1,751 | 2,001 | 1,937 | 2,004 | 2,216 |
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 | 238 | |
| -195 | -482 | -0 | 5 | -29 | -88 | -73 | -56 | -90 | 40 | -77 | -156 | |
| 112 | 346 | -150 | -87 | -68 | -200 | -74 | 49 | -32 | -211 | -161 | -36 | |
| Net Cash Flow | -4 | -1 | 16 | 13 | 3 | -3 | 22 | -35 | 11 | 102 | -96 | 46 |
| Free Cash Flow | 9 | 109 | 143 | 34 | 39 | 229 | 126 | -104 | 41 | 182 | 81 | 184 |
| CFO/OP | 91% | 128% | 90% | 66% | 78% | 117% | 91% | -12% | 92% | 154% | 117% | 120% |
Ratios
Standalone / 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 | 82 |
| Inventory Days | 42 | 38 | 45 | 49 | 48 | 38 | 52 | 68 | 50 | 57 | 52 | 46 |
| Days Payable | 69 | 70 | 81 | 93 | 82 | 91 | 93 | 112 | 80 | 98 | 100 | 102 |
| Cash Conversion Cycle | 43 | 37 | 42 | 46 | 54 | 35 | 38 | 43 | 51 | 37 | 35 | 26 |
| Working Capital Days | 38 | 17 | 31 | 49 | 51 | 19 | 29 | 34 | 34 | 41 | 41 | 39 |
| ROCE % | 15% | 12% | 18% | 16% | 15% | 22% | 14% | 2% | 7% | 12% | 7% | 12% |
Insights
In beta| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Number of manufacturing plants count |
|
|||||||||
| Exports as % of total revenue % of revenue |
||||||||||
| Blueloop (sustainable/recyclable) products as % of sales % of revenue |
||||||||||
| Zero Liquid Discharge (ZLD) plants count |
||||||||||
| Countries served (exports) count |
||||||||||
| Total recordable work-related injuries (TRI) count |
||||||||||
Extracted by Screener AI
Documents
Announcements
-
Disclosure Under Regulation 30 Of SEBI Listing Regulations, 2015
- Silvassa factory part gets occupancy certificate subject to Rs. 17,54,823 penalty on September 10, 2026.
-
Closure Of Operations Of PS Labels Factory At Baddi.
- Huhtamaki India will close Baddi PS Labels plant by October 30, 2026; FY25 revenue contribution was INR 218.76 million.
-
Announcement under Regulation 30 (LODR)-Change in Management
- Ms. Akanksha Kandoi appointed Company Secretary and Compliance Officer effective August 24, 2026.
-
Appointment of Company Secretary and Compliance Officer
- Huhtamaki India appoints Akanksha Kandoi as Company Secretary and Compliance Officer from August 24, 2026.
-
Announcement under Regulation 30 (LODR)-Credit Rating
- CRISIL reaffirmed Huhtamaki India’s Rs 88 crore bank facilities at Crisil AA-/Stable.
Annual reports
-
Annual Report 2025
from bse
-
Annual Report 2024
from bse
-
Annual Report 2023
from bse
-
Annual Report 2022
from bse
-
Annual Report 2021
from bse
-
Annual Report 2020
from bse
-
Annual Report 2019
from bse
-
Annual Report 2018
from bse
-
Annual Report 2017
from bse
-
Annual Report 2016
from bse
-
Annual Report 2015
from bse
-
Annual Report 2014
from bse
-
Annual Report 2013
from nse
-
Annual Report 2013
from bse
-
Annual Report 2012
from bse
Concalls
-
Jul 2026Transcript PPT REC
-
May 2026Transcript PPT REC
-
Feb 2026Transcript PPT
-
Oct 2025Transcript PPT REC
-
Jul 2025Transcript PPT
-
Apr 2025Transcript PPT REC
-
Feb 2025Transcript PPT
-
Oct 2024Transcript PPT
-
Jul 2024Transcript
-
Jul 2024Transcript PPT
-
Jul 2024PPT
-
Apr 2024Transcript PPT
-
Feb 2024Transcript PPT
-
Oct 2023Transcript PPT REC
-
Jul 2023Transcript PPT REC
-
May 2023Transcript PPT
-
Aug 2019Transcript
-
Mar 2019Transcript
-
Nov 2018Transcript
-
Aug 2018Transcript
-
Mar 2018Transcript
-
Nov 2017Transcript
-
Aug 2017Transcript
-
May 2017Transcript
-
Feb 2017Transcript
-
Nov 2016Transcript
-
Aug 2016Transcript
-
May 2016Transcript
-
Feb 2016Transcript
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]