HP Adhesives Limited

NSE: HPAL · Unclassified

₹31.74-5.20%06 Nov 2026

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Instant answers about HP Adhesives Limited — computed from its filings, no language model

Market cap₹292 cr

Current price₹31.74

High / Low₹52 / ₹27

P/E—

P/B1.59

Book value₹20.0

ROE-0.8%

ROCE-0.1%

Debt / equity0.14

Dividend yield1.26%

EPS (TTM)₹-0.15

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

	FY25	FY26
Revenue	252.9	249.3
EBITDA	26.0	13.1
Operating margin	10.3%	5.2%
Interest	2.1	2.7
Depreciation	4.7	5.8
Profit before tax	23.7	7.4
Tax	5.5	0.4
Net profit	18.2	7.0
EPS ₹	1.99	0.76
Operating cash flow	9.9	7.1
Capex	14.0	12.8
Dividend paid	2.8	3.7
Total assets	228.1	232.1
Equity	184.3	187.8

Quarterly performance

last 10 quarters · ₹ crore

showing latest 8 of 10 periods

	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	60.5	58.9	66.7	66.8	66.1	65.1	65.4	57.8	63.4	75.9
Operating profit	7.5	6.5	6.3	5.8	6.5	6.4	4.0	-3.8	-0.3	2.9
Operating margin	12.5%	11.1%	9.4%	8.6%	9.9%	9.8%	6.0%	-6.5%	-0.5%	3.9%
Other income	1.5	0.2	1.3	1.5	1.1	0.8	0.9	0.7	1.1	0.4
Interest	0.5	0.5	0.6	0.6	0.6	0.6	0.6	0.8	0.8	1.2
Depreciation	1.1	1.2	1.2	1.2	1.4	1.4	1.5	1.5	1.3	1.3
Profit before tax	7.4	5.0	5.8	5.5	5.6	4.8	2.2	-5.2	-1.4	0.7
Tax	1.8	0.9	1.6	1.2	1.4	1.3	0.6	-2.9	-0.5	0.5
Net profit	5.6	4.2	4.2	4.2	4.2	3.5	1.6	-2.4	-0.9	0.3
EPS ₹	0.61	0.45	0.46	0.46	0.46	0.38	0.18	-0.26	-0.10	0.03
Revenue YoY	—	—	—	—	9.2%	10.4%	-2.0%	-13.5%	-4.1%	16.7%
Profit YoY	—	—	—	—	-25.3%	-15.3%	-61.5%	-155.8%	-121.7%	-92.1%

Earlier results (standalone, Dec '21 – Mar '24)

₹ crore · from BSE, before the NSE XBRL filings begin

HP Adhesives Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY23†	FY24†
Revenue	233.0	236.0
Operating profit	19.0	30.1
Operating margin	8.2%	12.8%
Other income	2.9	3.2
Interest	2.3	1.2
Depreciation	3.2	4.3
Profit before tax	15.0	28.1
Tax	4.2	7.5
Net profit	10.8	20.6

Quarters

showing latest 8 of 10 periods

	DEC '21†	MAR '22†	JUN '22†	SEP '22†	DEC '22†	MAR '23†	JUN '23†	SEP '23†	DEC '23†	MAR '24†
Revenue	43.7	50.4	61.6	58.3	55.2	57.9	59.3	62.6	54.8	59.4
Operating profit	4.2	1.9	2.0	4.2	5.7	7.0	6.1	7.3	7.8	8.9
Operating margin	9.7%	3.8%	3.3%	7.3%	10.3%	12.1%	10.4%	11.7%	14.2%	14.9%
Other income	0.2	0.4	1.1	0.8	0.4	0.6	1.0	0.8	0.6	0.8
Interest	0.8	0.6	0.6	0.7	0.6	0.4	0.2	0.2	0.2	0.6
Depreciation	0.7	0.7	0.8	0.8	0.8	0.9	1.0	1.1	1.1	1.1
Profit before tax	2.9	1.0	1.9	2.9	4.0	6.3	5.9	7.1	7.1	8.1
Tax	0.8	0.3	0.5	0.4	0.9	2.4	1.3	1.9	1.9	2.5
Net profit	2.1	0.7	1.4	2.5	3.1	3.9	4.5	5.2	5.2	5.6
EPS ₹	1.17	0.38	0.75	1.37	1.69	2.11	2.46	0.57	0.57	0.61
Revenue YoY	—	—	—	—	26.4%	14.8%	-3.8%	7.3%	-0.8%	2.6%
Profit YoY	—	—	—	—	44.2%	460.9%	229.2%	108.8%	68.1%	45.0%

Returns & margins

trailing-twelve-month, per quarter

	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	9.9%	9.1%	8.6%	7.2%	3.7%	1.0%	-0.8%
ROCE	13.6%	12.7%	12.7%	10.9%	5.3%	1.7%	-0.1%
Net margin	7.2%	6.5%	6.1%	5.2%	2.7%	0.7%	-0.5%
EBITDA margin	10.3%	9.7%	9.4%	8.6%	5.1%	2.5%	1.1%
Debt / equity	0.03	0.03	0.00	0.00	0.02	0.02	0.14
Interest coverage	12.03	10.43	9.86	8.22	3.77	1.16	-0.05
Asset turnover	1.11	1.13	1.14	1.13	1.10	1.08	1.02

Balance sheet

equity vs borrowings over time · ₹ crore

	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	18.4	18.4	18.4	18.4	18.4
Other equity / reserves	157.6	165.9	170.1	169.4	165.4
Total equity	175.9	184.3	188.5	187.8	183.8
Borrowings	0.8	5.7	0.8	3.3	25.6
Current liabilities	27.4	41.4	41.2	43.1	72.8
Non-current liabilities	1.8	2.5	2.4	1.3	1.1
Total assets	205.1	228.1	232.0	232.1	257.6
Property, plant & equipment	50.1	71.0	70.4	71.6	78.1
Capital work-in-progress	18.6	4.4	5.3	4.8	7.0
Investments	12.2	24.6	35.0	22.2	15.7
Inventories	49.6	56.5	57.3	50.5	69.0
Receivables	40.3	41.7	41.6	37.3	41.3
Cash & equivalents	1.8	3.1	2.4	0.9	0.6

Cash flow

annual · ₹ crore · line = free cash flow

	FY25	FY26
Cash from operations	9.9	7.1
Cash from investing	-9.1	-1.6
Cash from financing	1.5	-7.8
Capex	14.0	12.8
Free cash flow	-4.1	-5.8
Dividends paid	2.8	3.7

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹78.1 cr30%

CWIP

₹7.0 cr3%

Investments

₹15.7 cr6%

Inventories

₹69.0 cr27%

Receivables

₹41.3 cr16%

Cash & equivalents

₹0.6 cr0%

Other assets

₹45.9 cr18%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
HP Adhesives Limited	292	31.74	—	1.59	-0.8%

StoxGud checklist: Bearish setup · 3/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-8.3%

6 months-21.2%

1 year-37.6%

3Y CAGR-30.2%

5Y CAGR—

10Y CAGR—

50-day avg₹34.10

200-day avg₹35.49

RSI (14)42

FAQs

What is the share price of HP Adhesives Limited?

HP Adhesives Limited (HPAL) closed at ₹31.74 on NSE on 06 Nov 2026.

What is the market cap of HP Adhesives Limited?

₹292 crore at the latest close.

How fast is HP Adhesives Limited growing?

HP Adhesives Limited: Latest-quarter revenue is up 16.7% year on year, profit down 92.1%.

How profitable is HP Adhesives Limited?

On a trailing-twelve-month basis return on equity is -0.8%, return on capital employed -0.1%, operating margin 1.1%, net margin -0.5%.

How much debt does HP Adhesives Limited have?

HP Adhesives Limited is lightly geared: debt to equity is 0.14 with borrowings of ₹26 cr against cash of ₹1 cr (balance sheet of 2026-09-30). Operating profit covers interest -0.0 times.

Financials parsed from HP Adhesives Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '24, annual from FY25, balance sheet from Sep '24. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.