HPAL

HP Adhesives Limited

Industrial and consumer adhesives manufacturer

Commodities›Chemicals›Chemicals & Petrochemicals›Specialty Chemicals

hpadhesives.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹34.19
Market cap
314 Cr
Stock P/E
167.3
P/B
1.67
Dividend yield
1.2%
ROE (FY26)
3.7%
ROCE (FY26)
5.3%
Operating margin (FY26)
2.9%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
54.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

HP Adhesives (HPAL) makes adhesives and sealants, including solvent cement, silicone sealants, ball valves and tapes, and PVA adhesives, at its Unit I plant at Khalapur in Raigad district, Maharashtra.

Company snapshot

55thBy market cap

Ranked among 68 companies in Specialty Chemicals.

What we see

Positives
  • ✓Debt-to-equity of 0.02x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Net margin is very thin at 2.8% — little room for error if costs rise.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales61 Cr59 Cr67 Cr67 Cr66 Cr65 Cr65 Cr58 Cr63 Cr
Operating expenses (approx.)53 Cr52 Cr60 Cr61 Cr60 Cr59 Cr61 Cr62 Cr64 Cr
EBITDA8 Cr7 Cr6 Cr6 Cr7 Cr6 Cr4 Cr-4 Cr-0.34 Cr
OPM %12.5%11.1%9.4%8.6%9.9%9.8%6.0%-6.5%-0.5%
Other income1 Cr0.19 Cr1 Cr2 Cr1 Cr0.84 Cr0.93 Cr0.73 Cr1 Cr
Interest0.47 Cr0.51 Cr0.58 Cr0.59 Cr0.64 Cr0.63 Cr0.64 Cr0.75 Cr0.81 Cr
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr2 Cr1 Cr1 Cr
Profit before tax7 Cr5 Cr6 Cr5 Cr6 Cr5 Cr2 Cr-5 Cr-1 Cr
Tax %24.3%17.4%27.6%22.0%24.7%26.4%27.6%54.7%33.1%
Net profit6 Cr4 Cr4 Cr4 Cr4 Cr4 Cr2 Cr-2 Cr-0.91 Cr
EPS (₹)₹0.61₹0.45₹0.46₹0.46₹0.46₹0.38₹0.18₹-0.26₹-0.10

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2025Mar 2026TTM
Sales253 Cr249 CrSign in free for the trailing twelve months
Operating expenses (approx.)227 Cr236 CrSign in free for the trailing twelve months
EBITDA26 Cr13 CrSign in free for the trailing twelve months
OPM %10.3%5.2%Sign in free for the trailing twelve months
Other income5 Cr4 CrSign in free for the trailing twelve months
Interest2 Cr3 CrSign in free for the trailing twelve months
Depreciation5 Cr6 CrSign in free for the trailing twelve months
Profit before tax24 Cr7 CrSign in free for the trailing twelve months
Tax %23.1%5.4%Sign in free for the trailing twelve months
Net profit18 Cr7 CrSign in free for the trailing twelve months
EPS (₹)₹1.99₹0.76Sign in free for the trailing twelve months
Dividend payout %15.1%52.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2025Mar 2026
Equity capital18 Cr18 Cr
Reserves166 Cr169 Cr
Borrowings6 Cr3 Cr
Other liabilities38 Cr41 Cr
Total liabilities228 Cr232 Cr
Fixed assets (net)71 Cr72 Cr
CWIP4 Cr5 Cr
Investments25 Cr22 Cr
Loans & advances1 Cr1 Cr
Inventories56 Cr51 Cr
Trade receivables42 Cr37 Cr
Cash & bank3 Cr0.89 Cr
Other assets26 Cr44 Cr
Total assets228 Cr232 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2025Mar 2026
Cash from operating activity10 Cr7 Cr
Cash from investing-9 Cr-2 Cr
Cash from financing2 Cr-8 Cr
Net cash flow2 Cr-2 Cr
Free cash flow (OCF − Capex)-4 Cr-6 Cr

Ratios

MetricMar 2025Mar 2026
ROCE %13.6%5.3%
ROE %9.9%3.7%
Debtor days6054
Inventory days157156
Days payable6486
Cash conversion cycle153125
OCF / EBITDA %38.2%54.1%
Debt / equity0.030.02
Current ratio3.573.58
Net debt / EBITDA0.100.18