HP Adhesives Limited HPAL NSEINFRA

Basic Materials · Specialty Chemicals · India

https://www.hpadhesives.com

HP Adhesives Limited manufactures and distributes adhesives and sealants in India and internationally. Its products include solvent cement, contact adhesive, white glue/PVA, epoxy putty and adhesives, spray paints, and plumbing accessories, as well as cyanoacrylates, synthetic rubber adhesives, black and white sealants, pipe lubricant, and gasket shellacs. The company also offers ancillary products, such as ball valves, teflon tapes, and masking tapes. In addition, it provides solvent cement and plumbing accessories, as well as drainage solutions, such as manhole cover, water gully cover, water gully cover, gratings, water tank cover. It serves plumbing, glass glazing, building facade, water supply and drainage, footwear, home improvement, foam and furnishing, automotive, woodworking, carpenter, and agriculture through a network of distributors and retailers. HP Adhesives Limited was founded in 1987 and is based in Mumbai, India.

Market & Price

Market Cap

₹330.57 Cr

Current Price

₹35.98

High / Low (52W)

₹52.66 / ₹26.93

Beta

Valuation

Stock P/E

47.34

Industry PE

23.81

Forward P/E

PEG Ratio

Book Value

₹20.57

Price to Book

1.75

P/S

1.31

EV/EBITDA

18.11

Dividend Yield

1.08%

Profitability & Returns

ROCE

5.31%

ROE

3.75%

ROA

2.95%

Profit Margin

2.76%

Op Margin

-7.67%

EPS (Latest Qtr)

₹-0.26

EPS (TTM)

₹0.76

Balance Sheet & Liquidity

Debt/Equity

2.25

Quick Ratio

1.63

Current Ratio

3.58

Debt

₹4.23 Cr

Total Assets

₹232.11 Cr

Current Assets

₹154.14 Cr

Working Capital

₹111.05 Cr

Ownership

Promoter Holding

71.35%

Chg in Prom Hold

FII / Inst Holding

0.00%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹302.15 Cr

Total Revenue (TTM)

₹252.87 Cr

EBITDA

₹16.68 Cr

Free Cash Flow

₹-12.08 Cr

Operating Cash Flow

₹7.08 Cr

Shares Outstanding

₹9.19 Cr

Gross Margin

39.14%

Payout Ratio

52.63%

Growth (CAGR)

Revenue 5Y

2.28%

Profit 5Y

-13.71%

Revenue (YoY)

-13.00%

Earnings (YoY)

PROS

No notable strengths flagged.

CONS

Earnings shrank at -13.7% CAGR over 5 years.
Trading 31.7% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	HPAL HP Adhesives Limited NSEINFRA	35.98	47.34	₹330.57 Cr	1.08%	5.31%	3.75%	2.28%	-13.71%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	66.16 Cr	66.10 Cr	65.06 Cr	65.37 Cr	57.82 Cr
Cost of Revenue	41.90 Cr	42.35 Cr	38.98 Cr	39.64 Cr	38.00 Cr
Gross Profit	24.26 Cr	23.76 Cr	26.08 Cr	25.73 Cr	19.82 Cr
Operating Expenses	20.41 Cr	18.64 Cr	21.16 Cr	23.28 Cr	25.04 Cr
Operating Income	3.85 Cr	5.12 Cr	4.91 Cr	2.44 Cr	-5.22 Cr
EBITDA	6.63 Cr	7.63 Cr	6.89 Cr	4.39 Cr	-3.03 Cr
Interest Expense	59.18 L	64.49 L	62.96 L	64.45 L	74.67 L
Pretax Income	4.79 Cr	5.57 Cr	4.80 Cr	2.24 Cr	-5.24 Cr
Tax Provision	1.20 Cr	1.38 Cr	1.27 Cr	61.82 L	-2.86 Cr
Net Income	3.59 Cr	4.19 Cr	3.53 Cr	1.62 Cr	-2.37 Cr
Diluted EPS	0.39	0.46	0.38	0.18	-0.26

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	233.00 Cr	235.91 Cr	249.79 Cr	249.28 Cr
Cost of Revenue	-	174.75 Cr	155.45 Cr	155.95 Cr	153.90 Cr
Gross Profit	-	58.25 Cr	80.46 Cr	93.84 Cr	95.38 Cr
Operating Expenses	-	42.42 Cr	54.04 Cr	72.54 Cr	88.12 Cr
Operating Income	-	15.83 Cr	26.42 Cr	21.30 Cr	7.26 Cr
EBITDA	-	20.29 Cr	33.17 Cr	30.60 Cr	15.87 Cr
Interest Expense	-	2.02 Cr	75.94 L	2.15 Cr	2.67 Cr
Pretax Income	-	15.03 Cr	28.12 Cr	23.73 Cr	7.38 Cr
Tax Provision	-	4.18 Cr	7.55 Cr	5.48 Cr	40.00 L
Net Income	-	10.86 Cr	20.57 Cr	18.24 Cr	6.98 Cr
Diluted EPS	-	1.18	2.24	1.99	0.76

Compounded Sales Growth

5 Years:	2.28%
1 Year:	-13.00%

Compounded Profit Growth

5 Years:	-13.71%
1 Year:	-

Stock Price Performance

1 Year:	-29.31%
6 Months:	-21.90%
3 Months:	-3.80%
1 Month:	-4.79%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	184.65 Cr	197.64 Cr	228.08 Cr	232.11 Cr
Current Assets	-	96.68 Cr	122.38 Cr	147.53 Cr	154.14 Cr
Cash & Equivalents	-	38.23 L	77.91 L	3.14 Cr	88.97 L
Inventory	-	44.86 Cr	47.69 Cr	56.49 Cr	50.50 Cr
Receivables	-	37.25 Cr	36.48 Cr	41.74 Cr	37.26 Cr
Total Liabilities	-	36.36 Cr	28.75 Cr	43.80 Cr	44.37 Cr
Current Liabilities	-	30.15 Cr	26.43 Cr	41.35 Cr	43.09 Cr
Long Term Debt	4.29 Cr	2.66 Cr	15.16 L	0	-
Total Debt	-	8.53 Cr	3.16 Cr	7.70 Cr	4.23 Cr
Total Equity	-	148.29 Cr	168.89 Cr	184.28 Cr	187.75 Cr
Shares Outstanding	-	9.19 Cr	9.19 Cr	9.19 Cr	9.19 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	-5.05 Cr	21.64 Cr	17.13 Cr	7.08 Cr
Investing Cash Flow	-	7.54 Cr	-15.14 Cr	-16.30 Cr	-1.55 Cr
Financing Cash Flow	-	-12.32 Cr	-6.10 Cr	1.52 Cr	-7.78 Cr
Capital Expenditure	-	-16.01 Cr	-16.45 Cr	-14.03 Cr	-12.84 Cr
Free Cash Flow	-	-21.05 Cr	5.18 Cr	3.10 Cr	-5.76 Cr
Net Change in Cash	-	-9.83 Cr	39.69 L	2.36 Cr	-2.25 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	25.0%	34.1%	37.6%	38.3%
Operating Margin %	-	6.8%	11.2%	8.5%	2.9%
Net Margin %	-	4.7%	8.7%	7.3%	2.8%
ROE %	-	7.3%	12.2%	9.9%	3.7%
ROCE %	-	10.2%	15.4%	11.4%	3.8%

Shareholding Pattern

Insiders

71.35%

Institutions

0.00%

Public Float

0.00%

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for HPAL

No recent headlines available.

HPAL · Basic Materials