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Hindustan Adhesives Overview

Hindustan Adhesives Limited. is a leading manufacturer and exporter of bi-axially oriented polypropylene self-adhesive tapes and polyolefin shrink films in India. The company was incorporated in 1988 by Shri L K Bagla and M.S Bagla, and obtained the certificate of commencement of business in the same year. Hindustan Adhesives Limited. has its manufacturing facility in Ghaziabad, Uttar Pradesh, with a total installed capacity of 52 million sq. mtrs. per annum. Hindustan Adhesives Limited. markets its products under the brand names Mystic, Stic M...Read More

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Hindustan Adhesives Key Financials

Market Cap ₹162 Cr.

Stock P/E 10.5

P/B 1.5

Current Price ₹317

Book Value ₹ 206.6

Face Value 10

52W High ₹378

Dividend Yield 0%

52W Low ₹ 247.6

Hindustan Adhesives Share Price

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Volume
Price

Hindustan Adhesives Quarterly Price

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Hindustan Adhesives Peer Comparison

Hindustan Adhesives Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 81 70 72 64 84 73 64 66 65 67
Other Income 1 1 0 1 1 1 1 1 1 1
Total Income 82 71 72 65 85 74 65 67 66 68
Total Expenditure 73 61 64 59 74 64 53 58 54 56
Operating Profit 9 10 8 6 11 10 11 10 12 12
Interest 1 1 1 1 1 2 2 2 1 2
Depreciation 2 2 2 2 2 2 4 2 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 -0 0 -0
Profit Before Tax 6 7 4 3 7 6 5 5 8 7
Provision for Tax 2 3 0 1 2 2 2 1 2 2
Profit After Tax 4 5 4 2 5 5 3 4 6 5
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 4 5 4 2 5 5 3 4 6 5
Adjusted Earnings Per Share 7.6 8.9 7.3 4.2 10.5 9 6.4 7.3 11.2 8.8

Hindustan Adhesives Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 71 76 322 304 285 262
Other Income 0 1 3 3 5 4
Total Income 71 77 325 307 289 266
Total Expenditure 61 65 301 271 251 221
Operating Profit 10 12 24 36 39 45
Interest 3 3 7 5 6 7
Depreciation 3 4 11 9 11 12
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 3 5 6 22 21 25
Provision for Tax 1 0 1 5 6 7
Profit After Tax 2 5 5 16 15 18
Adjustments 0 0 0 0 -0 0
Profit After Adjustments 2 5 5 16 15 18
Adjusted Earnings Per Share 3.4 9.3 9.5 32.1 30 33.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -6% 55% 0% 0%
Operating Profit CAGR 8% 48% 0% 0%
PAT CAGR -6% 44% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -7% 12% 24% 25%
ROE Average 18% 18% 17% 17%
ROCE Average 16% 17% 17% 17%

Hindustan Adhesives Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 19 24 60 76 92
Minority's Interest 0 0 0 0 -1
Borrowings 4 3 19 17 40
Other Non-Current Liabilities 3 2 5 4 6
Total Current Liabilities 28 29 86 98 121
Total Liabilities 54 59 170 195 259
Fixed Assets 23 23 77 73 71
Other Non-Current Assets 3 6 7 27 66
Total Current Assets 28 30 86 95 122
Total Assets 54 59 170 195 259

Hindustan Adhesives Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 2 2 3 1 2
Cash Flow from Operating Activities 8 8 27 13 18
Cash Flow from Investing Activities -3 -5 -10 -9 -49
Cash Flow from Financing Activities -5 -3 -20 -2 35
Net Cash Inflow / Outflow 0 -1 -2 1 4
Closing Cash & Cash Equivalent 2 1 1 2 6

Hindustan Adhesives Ratios

# Mar 2016 Mar 2017 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 3.43 9.33 9.5 32.07 30.05
CEPS(Rs) 9.96 16.39 30.97 49.14 51.81
DPS(Rs) 0 1 0 0 0
Book NAV/Share(Rs) 37.97 46.9 116.73 147.93 179.27
Core EBITDA Margin(%) 12.29 13.38 6.26 10.8 12.01
EBIT Margin(%) 8.13 9.7 3.93 8.91 9.69
Pre Tax Margin(%) 3.71 6.21 1.81 7.18 7.54
PAT Margin (%) 2.26 5.68 1.51 5.39 5.4
Cash Profit Margin (%) 6.54 9.97 4.93 8.27 9.31
ROA(%) 3.25 8.42 4.24 8.99 6.78
ROE(%) 9.04 21.99 11.61 24.23 18.39
ROCE(%) 15.71 19.11 14.75 20.04 16.16
Receivable days 54.59 56.07 22.76 39.48 43.02
Inventory Days 58.63 53.86 36.06 53.26 66.35
Payable days 73.14 78.2 28.44 47.74 71.47
PER(x) 11.01 6.35 20.58 11.38 11.19
Price/Book(x) 1 1.26 1.68 2.47 1.88
Dividend Yield(%) 0 1.69 0 0 0
EV/Net Sales(x) 0.55 0.66 0.51 0.83 0.95
EV/Core EBITDA(x) 3.98 4.28 7 7.06 7.01
Net Sales Growth(%) 0 7.99 321.94 -5.4 -6.36
EBIT Growth(%) 0 28.82 54.83 114.78 1.83
PAT Growth(%) 0 171.71 1.82 237.47 -6.2
EPS Growth(%) 0 171.71 1.82 237.47 -6.3
Debt/Equity(x) 1.07 0.88 1.11 0.91 1.15
Current Ratio(x) 1.02 1.03 1 0.97 1
Quick Ratio(x) 0.57 0.61 0.41 0.59 0.46
Interest Cover(x) 1.84 2.78 1.86 5.15 4.49
Total Debt/Mcap(x) 1.08 0.69 0.66 0.37 0.61

Hindustan Adhesives Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 68.48 68.54 68.55 68.55 68.58 68.58 68.58 68.48 68.48 68.48
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 31.52 31.46 31.45 31.45 31.42 31.42 31.42 31.52 31.52 31.52
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Hindustan Adhesives News

Hindustan Adhesives Pros & Cons

Pros

Cons

  • Debtor days have increased from 47.74 to 71.47days.
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