Hindustan Adhesives Limited

BSE: HINDADH · Plastic Products - Industrial

52W Range₹248 ₹403

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Snapshot

Unlock Hindustan Adhesives Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Hindustan Adhesives Limited specialises in the manufacturing and distribution of high-quality adhesive tapes, including BOPP, specialty, and tear tapes. The company serves industrial packaging, logistics, tobacco, and FMCG sectors through its technical expertise in adhesive coating.

Business Model

The company generates revenue by manufacturing and supplying customised adhesive packaging solutions to corporate clients. It leverages its manufacturing facilities to cater to both domestic and international market demands.

Growth Outlook

Growth is driven by the increasing demand for industrial packaging and logistics solutions within the FMCG and tobacco industries. The company continues to focus on technical expertise to maintain its competitive edge in the specialty chemicals and packaging sector.

Key Risks

  • Raw Material Price Volatility. Fluctuations in the prices of polymers and chemical inputs can significantly impact profit margins.
  • Competitive Market Pressure. The adhesive tape industry faces intense competition from both organised and unorganised players, potentially pressuring pricing power.
  • Economic Cyclicality. Demand for industrial packaging is closely linked to overall economic activity and the performance of the FMCG and logistics sectors.

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Key Metrics

REVENUE

₹0 Cr

TTM · consolidated

-100.0%YoY

NET PROFIT

₹14 Cr

TTM · consolidated

-15.1%YoY

EPS

₹32.31

TTM · consolidated

-2.7%YoY

RETURN ON EQUITY

27.0%

TTM · consolidated

+2.6 ppYoY

P/E

8.3x

Q4 FY26 · consolidated

8.3 vs 10.9x5Y avg

EV/EBITDA

3.5x

Q4 FY26 · consolidated

3.5 vs 5.5x5Y avg

EBITDA MARGIN

61.4%

TTM · consolidated

+48.9 ppYoY

NET PROFIT MARGIN

6.3%

Q3 FY25 · consolidated

-0.2 ppYoY

DEBT TO EQUITY

1.1x

Q3 FY25 · consolidated

+0.22xYoY

Peers · Plastic Products - Industrial

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Hindustan Adhesives LimitedHINDADH
₹179 Cr10.804.14-100.0%61.4%27.0%42.1%+10.2%
Dhabriya Polywood LimitedDHABRIYA
₹598 Cr19.8311.9114.4%21.2%28.1%34.1%+43.8%
Shish IndustriesSHISHIND
₹438 Cr54.6826.8215.6%13.3%6.3%8.8%+37.8%
Captain PolyplasCPL
₹384 Cr13.6810.2045.5%11.1%16.3%24.0%-5.7%
Candour TechtexCANDOUR
₹157 Cr42.5915.74-69.1%18.9%4.5%6.7%-11.9%
Jain Irrigation Systems LimitedJISLDVREQS
₹41 Cr15.164.819.9%12.7%0.1%6.8%-32.0%

As of Q4 FY26

Financials