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HP Adhesives

HPAL NSE

Key Fundamentals

MicrocapSpecialty ChemicalsChemicals
Market Cap
₹355 Cr
Volatility
Moderate
P/E Ratio
189.55
EBITDA
₹16.70 Cr
Return on Equity
3.72%
Debt to Equity
0.02
Book Value
₹20.43
EPS
₹2.22
52W High
₹53
52W Low
₹26.52

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.1%

Weaknesses

5
  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Company has a low return on equity of 8.70% over last 3 years.
  • Earnings include an other income of Rs.2.60 Cr.
  • Company's cost of borrowing seems high

Growth Rate

Revenue Growth
-0.59% lower than 3Y
Net Income Growth
-61.54% lower than 3Y
Cash Flow Change
-58.67% higher than 3Y
ROE
-62.42% lower than 3Y
ROCE
-61.69% higher than 3Y
EBITDA Margin (Avg.)
-45.14% higher than 3Y

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
59.32
62.6
54.75
59.31
60.52
58.87
65.72
65.44
66.13
65.13
61.39
57.7
63.34
Expenses
53.18
55.26
46.97
50.5
52.95
52.39
59.77
59.92
59.52
58.73
57.58
61.42
63.54
Operating Profit
6.14
7.34
7.78
8.81
7.57
6.48
5.95
5.52
6.61
6.4
3.81
-3.72
-0.2
OPM %
10.35%
11.73%
14.21%
14.85%
12.51%
11.01%
9.05%
8.44%
10%
9.83%
6.21%
-6.45%
-0.32%
Other Income
0.98
1.04
0.62
0.88
1.48
0.17
1.29
1.58
1.05
0.47
0.44
0.67
1.02
Interest
0.23
0.21
0.18
0.56
0.47
0.51
0.58
0.59
0.64
0.63
0.64
0.75
0.81
Depreciation
1.03
1.08
1.11
1.08
1.13
1.15
1.17
1.25
1.41
1.45
1.5
1.45
1.27
PBT
5.86
7.09
7.11
8.05
7.45
4.99
5.49
5.26
5.61
4.79
2.11
-5.25
-1.26
Tax %
22.87%
26.09%
26.72%
30.43%
24.3%
17.23%
27.87%
21.86%
24.78%
25.89%
28.91%
-54.48%
-33.33%
Net Profit
4.51
5.24
5.21
5.61
5.63
4.12
3.96
4.12
4.22
3.55
1.5
-2.39
-0.84
EPS in Rs
0.49
0.57
0.57
0.61
0.61
0.45
0.43
0.45
0.46
0.39
0.16
-0.26
-0.09
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
85
118
165
233
236
248
249
248
Expenses
80
106
153
214
205
223
236
241
Operating Profit
4
12
11
19
31
26
13
6
OPM %
5%
10%
7%
8%
13%
10%
5%
2.5%
Other Income
-5
6
3
2
4
4
3
3
Interest
3
3
3
2
2
2
3
3
Depreciation
2
2
3
3
4
5
6
6
PBT
-5
13
8
15
28
23
7
0
Tax %
-13%
24%
26%
28%
27%
23%
5%
—
Net Profit
-5
10
6
11
21
18
7
2
EPS in Rs
-0.73
1.55
0.65
1.18
2.24
1.94
0.75
0.2
Div. Payout %
0%
0%
0%
0%
13%
21%
53%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
13
13
18
18
18
18
18
Reserves
-11
0
119
130
151
166
169
Borrowings
36
43
19
9
3
8
4
Other Liabilities
19
35
40
28
26
36
40
Total Liabilities
57
90
195
185
198
228
232
Fixed Assets
11
19
26
39
52
73
72
CWIP
1
7
18
17
16
4
5
Investments
0
0
0
0
18
25
22
Other Assets
45
64
152
129
111
126
132
Total Assets
57
90
195
185
198
228
232
Figures in ₹ Crores

Cash Flow

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1
11
-10
-5
22
17
7
Investing
-5
-16
-67
8
-15
-16
-2
Financing
4
5
86
-12
-6
2
-8
Net Cash Flow
-1
0
9
-10
0
2
-2
Free Cash Flow
-4
-5
-26
-21
5
3
-6
CFO/OP
19
114
-71
-9
94
93
82
Figures in ₹ Crores

Ratios

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
86
71
71
58
56
61
55
Inventory Days
125
146
124
97
118
132
119
Days Payable
103
116
95
44
40
54
66
Cash Conversion Cycle
107
100
100
112
134
140
108
Working Capital Days
-48
-19
84
102
106
98
118
ROCE %
—
34%
11%
12%
18%
14%
6%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs0.01%Promot.71.35%Others3.59%Public25.05%As ofJun 2026

Documents

Frequently Asked Questions about HP Adhesives

What does HP Adhesives Ltd do?
Incorporated in 2021, HP Adhesives Ltd manufactures and distributes adhesives and sealants along with other ancillary products[1]
Where is HP Adhesives Ltd (HPAL) listed?
HP Adhesives Ltd trades as HPAL on the NSE and under code 543433 on the BSE.
Which sector does HP Adhesives Ltd belong to?
HP Adhesives Ltd is classified under the Chemicals sector, in the Specialty Chemicals industry.
What is the market capitalisation of HP Adhesives Ltd?
HP Adhesives Ltd has a market capitalisation of ₹355.28 Cr, which places it in the Small Cap band.
What is the PE ratio of HP Adhesives Ltd?
HP Adhesives Ltd trades at a PE ratio of 189.55, on earnings per share of ₹2.22, against a book value of ₹20.43 per share.
What is the 52-week high and low of HP Adhesives Ltd?
Over the last 52 weeks HP Adhesives Ltd has traded between ₹26.52 and ₹53.
Does HP Adhesives Ltd pay dividends?
HP Adhesives Ltd has a dividend yield of 1.09%.
What is the Return on Equity (ROE) of HP Adhesives Ltd?
HP Adhesives Ltd reported a return on equity of 3.72%. Its debt-to-equity ratio is 0.02.

Company Information

Incorporated in 2021, HP Adhesives Ltd manufactures and distributes adhesives and sealants along with other ancillary products[1]

Website hpadhesives.com
CEO Ms. Anjana Haresh Motwani
Employees 659
Listed 2021-12-27
Face Value ₹ 2
Issued Size 9,18,74,735

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