Hindware Home In

NSE: HINDWAREAP · Sanitary Ware

52W Range₹171 ₹393

Snapshot

Unlock Hindware Home In's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Hindware Home Innovation Limited is a diversified Indian company operating across consumer appliances, retail, and building products. Its portfolio spans kitchen appliances, water heaters, air coolers, furniture, sanitary ware, faucets, and plastic piping systems.

Business Model

The company generates revenue through the manufacturing, distribution, and retail sale of home improvement and building products under various brands including Hindware, Moonbow, and Evok. It leverages a wide distribution network to supply both residential and commercial segments.

Management Commentary

Management focuses on brand expansion and product diversification within the home innovation space. The company rebranded from Somany Home Innovation Limited in 2022 to better align with its core identity.

Growth Outlook

Growth is driven by the expansion of its consumer appliance portfolio, including IoT-enabled products, and the strengthening of its building products segment. Increased urbanisation and demand for premium home decor and modular solutions serve as primary catalysts.

Key Risks

  • Input Cost Volatility. Fluctuations in the prices of raw materials like polymers, metals, and ceramics can significantly impact operating margins.
  • Competitive Intensity. The company faces stiff competition from both established domestic players and unorganised sectors in the sanitary ware and appliance markets.
  • Economic Cyclicality. Demand for building products and home decor is highly sensitive to the performance of the real estate and construction sectors.
  • Supply Chain Disruptions. Reliance on complex distribution networks and global sourcing for certain components exposes the company to logistics and supply chain risks.

Price

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Key Metrics

REVENUE

₹2,510 Cr

TTM · consolidated

-0.5%YoY

NET PROFIT

₹-39 Cr

TTM · consolidated

+42.3%YoY

EPS

₹-4.75

TTM · consolidated

+45.7%YoY

RETURN ON EQUITY

-5.1%

TTM · consolidated

+5.5 ppYoY

RETURN ON CAPITAL EMPLOYED

4.7%

TTM · consolidated

+2.2 ppYoY

P/E

-51.3x

Q4 FY26 · consolidated

-51.3 vs 11.8x5Y avg

EV/EBITDA

11.7x

Q4 FY26 · consolidated

11.7 vs -89.0x5Y avg

EBITDA MARGIN

9.3%

TTM · consolidated

+2.0 ppYoY

NET PROFIT MARGIN

-2.8%

Q4 FY26 · consolidated

+1.6 ppYoY

DEBT TO EQUITY

1.0x

Q4 FY26 · consolidated

+0.03xYoY

Peers · Sanitary Ware

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Hindware Home InHINDWAREAP
1,505-51.3311.68-0.5%9.3%-5.1%4.7%-9.1%
Cera Sanitaryware LtdCERA
6,08038.6424.457.0%15.7%14.8%18.4%-11.7%

As of Q4 FY26

Financials