Reported Earnings • May 14
Full year 2026 earnings released: EPS: ₹0.76 (vs ₹1.99 in FY 2025) Full year 2026 results: EPS: ₹0.76 (down from ₹1.99 in FY 2025). Revenue: ₹2.53b (flat on FY 2025). Net income: ₹69.8m (down 62% from FY 2025). Profit margin: 2.8% (down from 7.2% in FY 2025). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Profit margins are more than 30% lower than last year (5.2% net profit margin). Market cap is less than US$100m (₹4.12b market cap, or US$43.1m). Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹43.80, the stock trades at a trailing P/E ratio of 29.6x. Average trailing P/E is 23x in the Chemicals industry in India. Total loss to shareholders of 45% over the past three years. Announcement • May 06
HP Adhesives Limited to Report Q4, 2026 Results on May 12, 2026 HP Adhesives Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 12, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹31.46, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 20x in the Chemicals industry in India. Total loss to shareholders of 57% over the past three years. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹0.18 (vs ₹0.46 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.18 (down from ₹0.46 in 3Q 2025). Revenue: ₹663.0m (flat on 3Q 2025). Net income: ₹16.2m (down 61% from 3Q 2025). Profit margin: 2.4% (down from 6.3% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Announcement • Feb 06
HP Adhesives Limited to Report Q3, 2026 Results on Feb 12, 2026 HP Adhesives Limited announced that they will report Q3, 2026 results on Feb 12, 2026 Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹0.38 (vs ₹0.45 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.38 (down from ₹0.45 in 2Q 2025). Revenue: ₹659.0m (up 12% from 2Q 2025). Net income: ₹35.3m (down 15% from 2Q 2025). Profit margin: 5.4% (down from 7.1% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Nov 07
HP Adhesives Limited to Report Q2, 2026 Results on Nov 12, 2025 HP Adhesives Limited announced that they will report Q2, 2026 results on Nov 12, 2025 Upcoming Dividend • Sep 17
Upcoming dividend of ₹0.40 per share Eligible shareholders must have bought the stock before 23 September 2025. Payment date: 30 October 2025. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.7%). Declared Dividend • Sep 03
Dividend increased to ₹0.40 Dividend of ₹0.40 is 33% higher than last year. Ex-date: 25th September 2025 Payment date: 30th October 2025 Dividend yield will be 0.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (20% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 02
HP Adhesives Limited announces Annual dividend, payable on October 30, 2025 HP Adhesives Limited announced Annual dividend of INR 0.4000 per share payable on October 30, 2025, ex-date on September 25, 2025 and record date on September 25, 2025. Announcement • Sep 01
HP Adhesives Limited, Annual General Meeting, Sep 30, 2025 HP Adhesives Limited, Annual General Meeting, Sep 30, 2025, at 15:00 Indian Standard Time. Reported Earnings • Aug 09
First quarter 2026 earnings released: EPS: ₹0.46 (vs ₹0.61 in 1Q 2025) First quarter 2026 results: EPS: ₹0.46 (down from ₹0.61 in 1Q 2025). Revenue: ₹672.0m (up 11% from 1Q 2025). Net income: ₹41.9m (down 25% from 1Q 2025). Profit margin: 6.2% (down from 9.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Aug 08
HP Adhesives Limited Announces Resignation of Jyoti Chawda as Company Secretary & Compliance Officer, Effective August 9, 2025 HP Adhesives Limited announced resignation of Ms. Jyoti Chawda, Company Secretary & Compliance Officer Personnel) of the Company with effect from August 09, 2025. Announcement • Aug 02
HP Adhesives Limited to Report Q1, 2026 Results on Aug 08, 2025 HP Adhesives Limited announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 14
Full year 2025 earnings released: EPS: ₹1.99 (vs ₹2.24 in FY 2024) Full year 2025 results: EPS: ₹1.99 (down from ₹2.24 in FY 2024). Revenue: ₹2.57b (up 9.1% from FY 2024). Net income: ₹182.4m (down 11% from FY 2024). Profit margin: 7.1% (down from 8.7% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • May 10
HP Adhesives Limited to Report Q4, 2025 Results on May 13, 2025 HP Adhesives Limited announced that they will report Q4, 2025 results on May 13, 2025 Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹52.85, the stock trades at a trailing P/E ratio of 24.8x. Average trailing P/E is 25x in the Chemicals industry in India. Total loss to shareholders of 30% over the past three years. New Risk • Mar 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₹4.63b market cap, or US$53.5m). Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. VP of Operations & Additional Executive Director Nidhi Motwani was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹51.59, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 25x in the Chemicals industry in India. Total loss to shareholders of 29% over the past three years. Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: ₹0.46 (vs ₹0.57 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.46 (down from ₹0.57 in 3Q 2024). Revenue: ₹679.7m (up 24% from 3Q 2024). Net income: ₹42.1m (down 19% from 3Q 2024). Profit margin: 6.2% (down from 9.5% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Announcement • Feb 06
HP Adhesives Limited to Report Q3, 2025 Results on Feb 12, 2025 HP Adhesives Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 15
Second quarter 2025 earnings released: EPS: ₹0.45 (vs ₹0.57 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.45 (down from ₹0.57 in 2Q 2024). Revenue: ₹591.2m (down 5.6% from 2Q 2024). Net income: ₹41.7m (down 20% from 2Q 2024). Profit margin: 7.1% (down from 8.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Announcement • Nov 08
HP Adhesives Limited to Report Q2, 2025 Results on Nov 13, 2024 HP Adhesives Limited announced that they will report Q2, 2025 results on Nov 13, 2024 New Risk • Oct 03
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.32b (US$99.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Market cap is less than US$100m (₹8.32b market cap, or US$99.1m). Announcement • Sep 20
HP Adhesives Limited Approves Final Dividend for the Financial Year Ended March 31, 2024 HP Adhesives Limited at its AGM held on September 18, 2024 approved final dividend of INR 0.30 per share for the financial year ended March 31, 2024. Announcement • Aug 22
HP Adhesives Limited, Annual General Meeting, Sep 19, 2024 HP Adhesives Limited, Annual General Meeting, Sep 19, 2024, at 12:00 Indian Standard Time. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: ₹0.61 (vs ₹0.49 in 1Q 2024) First quarter 2025 results: EPS: ₹0.61 (up from ₹0.49 in 1Q 2024). Revenue: ₹605.2m (up 2.0% from 1Q 2024). Net income: ₹56.1m (up 24% from 1Q 2024). Profit margin: 9.3% (up from 7.6% in 1Q 2024). Announcement • Aug 06
HP Adhesives Limited to Report Q1, 2025 Results on Aug 12, 2024 HP Adhesives Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Reported Earnings • May 16
Full year 2024 earnings released: EPS: ₹2.24 (vs ₹1.18 in FY 2023) Full year 2024 results: EPS: ₹2.24 (up from ₹1.18 in FY 2023). Revenue: ₹2.39b (up 2.7% from FY 2023). Net income: ₹205.7m (up 89% from FY 2023). Profit margin: 8.6% (up from 4.7% in FY 2023). The increase in margin was primarily driven by higher revenue. Announcement • May 15
HP Adhesives Limited Recommends Dividend for the Year Ended March 31, 2024 The board of directors of HP Adhesives Limited at its meeting held on May 14, 2024, considered and approved recommended a dividend of 0.30/- (15% on Face Value) per equity share of 2/- each for the year ended March 31, 2024, subject to the approval of shareholders at the upcoming Annual General Meeting (AGM) of the Company which shall be paid to the shareholders within 30 days of declaration. The company shall inform in due course, the date on which the Company will hold its Annual General Meeting for the financial year ended March 31, 2024, and record date for the purpose of the Dividend, if approved by the shareholders. Announcement • May 10
HP Adhesives Limited to Report Q4, 2024 Results on May 14, 2024 HP Adhesives Limited announced that they will report Q4, 2024 results on May 14, 2024 Announcement • Feb 08
HP Adhesives Limited to Report Q3, 2023 Results on Feb 07, 2024 HP Adhesives Limited announced that they will report Q3, 2023 results on Feb 07, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: ₹0.57 (vs ₹0.34 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.57 (up from ₹0.34 in 3Q 2023). Revenue: ₹553.7m (flat on 3Q 2023). Net income: ₹52.1m (up 68% from 3Q 2023). Profit margin: 9.4% (up from 5.6% in 3Q 2023). New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹115, the stock trades at a trailing P/E ratio of 63.3x. Average trailing P/E is 30x in the Chemicals industry in India. Total returns to shareholders of 50% over the past year. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹0.57 (vs ₹0.27 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.57 (up from ₹0.27 in 2Q 2023). Revenue: ₹634.1m (up 8.7% from 2Q 2023). Net income: ₹52.4m (up 109% from 2Q 2023). Profit margin: 8.3% (up from 4.3% in 2Q 2023). The increase in margin was driven by higher revenue. Announcement • Nov 04
HP Adhesives Limited to Report Q2, 2024 Results on Nov 09, 2023 HP Adhesives Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Announcement • Sep 07
HP Adhesives Limited, Annual General Meeting, Sep 29, 2023 HP Adhesives Limited, Annual General Meeting, Sep 29, 2023, at 15:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended 31st March, 2023 together with the reports of the Board of Directors and Statutory Auditors thereon; to appoint a Director in place of Anjana Haresh Motwani who retires by rotation and being eligible offers herself for re-appointment; and to consider other issues. Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: ₹2.46 (vs ₹0.75 in 1Q 2023) First quarter 2024 results: EPS: ₹2.46 (up from ₹0.75 in 1Q 2023). Revenue: ₹603.1m (down 2.2% from 1Q 2023). Net income: ₹45.1m (up 229% from 1Q 2023). Profit margin: 7.5% (up from 2.2% in 1Q 2023). The increase in margin was driven by lower expenses. Announcement • Aug 05
HP Adhesives Limited to Report Q1, 2024 Results on Aug 10, 2023 HP Adhesives Limited announced that they will report Q1, 2024 results on Aug 10, 2023 Reported Earnings • May 15
Full year 2023 earnings released: EPS: ₹5.91 (vs ₹3.95 in FY 2022) Full year 2023 results: EPS: ₹5.91 (up from ₹3.95 in FY 2022). Revenue: ₹2.36b (up 43% from FY 2022). Net income: ₹108.6m (up 81% from FY 2022). Profit margin: 4.6% (up from 3.6% in FY 2022). The increase in margin was driven by higher revenue. Announcement • May 07
HP Adhesives Limited to Report Q4, 2023 Results on May 12, 2023 HP Adhesives Limited announced that they will report Q4, 2023 results on May 12, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹1.69 (vs ₹1.17 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.69 (up from ₹1.17 in 3Q 2022). Revenue: ₹555.6m (up 27% from 3Q 2022). Net income: ₹31.0m (up 45% from 3Q 2022). Profit margin: 5.6% (up from 4.9% in 3Q 2022). The increase in margin was driven by higher revenue. Announcement • Feb 04
HP Adhesives Limited to Report Q3, 2023 Results on Feb 11, 2023 HP Adhesives Limited announced that they will report Q3, 2023 results on Feb 11, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹1.37 (vs ₹2.46 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.37 (down from ₹2.46 in 2Q 2022). Revenue: ₹591.3m (up 19% from 2Q 2022). Net income: ₹25.1m (down 28% from 2Q 2022). Profit margin: 4.2% (down from 7.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹1.37 (vs ₹2.46 in 2Q 2022) Second quarter 2023 results: EPS: ₹1.37 (down from ₹2.46 in 2Q 2022). Revenue: ₹591.3m (up 19% from 2Q 2022). Net income: ₹25.1m (down 28% from 2Q 2022). Profit margin: 4.2% (down from 7.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 12
First quarter 2023 earnings released: EPS: ₹0.75 (vs ₹1.11 in 1Q 2022) First quarter 2023 results: EPS: ₹0.75 (down from ₹1.11 in 1Q 2022). Revenue: ₹627.9m (up 78% from 1Q 2022). Net income: ₹13.7m (down 12% from 1Q 2022). Profit margin: 2.2% (down from 4.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Board Change • Apr 27
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. MD & Director Karan Motwani is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Mar 31
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. MD & Director Karan Motwani is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.17. Revenue: ₹438.7m (flat on 3Q 2021). Net income: ₹21.5m (up ₹21.5m from 3Q 2021). Profit margin: 4.9% (up from null in 3Q 2021). Revenue was in line with analyst estimates. 
