Sharescart Research Club logo

Hipolin Overview

1. Business Overview

Hipolin Ltd. is an Indian company primarily engaged in the manufacturing and sale of detergents and soaps. Its core business model revolves around producing these fast-moving consumer goods (FMCG) and distributing them to consumers, likely through a network of wholesalers, retailers, and possibly direct-to-consumer channels. The company generates revenue by selling its range of detergent powders, detergent cakes, and soap products to meet daily household cleaning and personal hygiene needs.

2. Key Segments / Revenue Mix

Based on the provided information, Hipolin Ltd.'s business is entirely focused within the "Detergents & Soaps" segment. Specific breakdowns of revenue contribution between detergents and soaps, or any other product categories, are not publicly available from the given data.

3. Industry & Positioning

The Indian Detergents & Soaps industry is highly competitive, characterized by the presence of large multinational corporations (e.g., Hindustan Unilever, Procter & Gamble) and strong domestic players (e.g., Nirma, Ghari, Jyothy Labs). These dominant players typically have extensive distribution networks, significant marketing budgets, and diverse product portfolios. Given the nature of the industry and the company's profile, Hipolin Ltd. is likely positioned as a regional player or a smaller national contender, competing on factors such as value-for-money, specific regional brand loyalty, or niche product offerings, rather than broad national market leadership against the giants.

4. Competitive Advantage (Moat)

For a company like Hipolin Ltd. operating in a competitive FMCG space, potential competitive advantages (moats) could include:

Regional Brand Equity: Strong brand recognition and loyalty within specific geographical markets where it has a long-standing presence.

Cost Efficiency: Ability to manufacture products at a lower cost, allowing for competitive pricing in value-conscious segments.

Distribution Strength: A well-established and efficient distribution network in its core operating regions, ensuring product availability.

Product Formulation/Quality: A perceived advantage in product effectiveness or unique formulations for its target consumers.

However, establishing a significant and durable moat against larger, more resourced competitors in this sector is challenging.

5. Growth Drivers

Key factors that could drive Hipolin Ltd.'s growth over the next 3-5 years include:

Growing Consumer Demand: Increasing population, rising disposable incomes, and improving hygiene awareness in India will continue to drive demand for detergents and soaps.

Penetration in Untapped Markets: Expanding distribution into new rural and semi-urban areas.

Product Innovation: Introducing new variants, improved formulations, or different product formats to cater to evolving consumer preferences and premiumization trends.

Brand Building Initiatives: Effective marketing and advertising campaigns to enhance brand visibility and recall.

Operational Efficiency: Optimizing manufacturing and supply chain to improve margins and allow for competitive pricing.

6. Risks

Hipolin Ltd. faces several business risks:

Intense Competition: Fierce competition from well-established national and international players with larger budgets for R&D, marketing, and distribution.

Raw Material Price Volatility: Fluctuations in prices of key raw materials (e.g., palm oil, soda ash, chemicals) can impact production costs and profit margins.

Changing Consumer Preferences: Rapid shifts in consumer tastes, demand for eco-friendly products, or new product innovations from competitors could impact market share.

Distribution Challenges: Maintaining and expanding an effective distribution network in a geographically diverse market like India.

Economic Slowdown: A general economic downturn or reduced consumer spending power could negatively affect demand for its products.

Regulatory Changes: New environmental regulations, labeling requirements, or taxation policies could impact operations and costs.

7. Management & Ownership

Specific details regarding the promoters, management quality, and detailed ownership structure are not provided in the input. In India, many companies, especially in the mid-tier segment, often have promoter-led or family-controlled management teams. Their experience and strategic vision would be critical for navigating the competitive landscape.

8. Outlook

Hipolin Ltd. operates in a staple consumer goods segment with consistent underlying demand driven by India's population growth and increasing consumer spending.

Bull Case: If Hipolin Ltd. can effectively leverage its regional strengths, maintain cost efficiency, innovate products to meet evolving consumer needs, and strategically expand its distribution, it could capture niche market shares and achieve steady growth. Its focus on essential goods provides a defensive characteristic against broader economic volatility.

Bear Case: The company faces significant headwinds from intense competition, particularly from market leaders with deep pockets for marketing and R&D. Volatility in raw material prices, inability to adapt quickly to changing consumer preferences, or insufficient investment in brand building and distribution could impede growth and put pressure on profitability, making it challenging to scale operations beyond its current positioning.

Want to Start Investing in Top Unlisted Stocks?

Our experts help you choose the right stocks based on performance, risk, and growth potential.

Hipolin Key Financials

Market Cap ₹30 Cr.

Stock P/E -9.3

P/B 4.1

Current Price ₹97

Book Value ₹ 23.7

Face Value 10

52W High ₹118.7

Dividend Yield 0%

52W Low ₹ 44.8

Hipolin Share Price

| |

Volume
Price

Hipolin Quarterly Price

Show Value Show %

Hipolin Peer Comparison

Hipolin 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 4 5 6 7 6 5 4 3 3 4
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 4 5 6 7 6 5 5 3 3 4
Total Expenditure 5 5 6 7 6 6 7 4 3 4
Operating Profit -0 0 -0 0 -0 -1 -2 -1 0 -0
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -0 0 -0 0 -0 -1 -2 -1 0 0
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -0 0 -0 0 -0 -1 -2 -1 0 0
Adjustments -0 -0 0 -0 0 0 0 0 0 -0
Profit After Adjustments -0 0 -0 0 -0 -1 -2 -1 0 0
Adjusted Earnings Per Share -1.1 0 -0.5 0.2 -1.2 -1.8 -7.6 -2.3 0 0

Hipolin Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 12 16 20 22 14
Other Income 0 0 0 0 0
Total Income 12 16 20 22 15
Total Expenditure 13 17 21 25 18
Operating Profit -1 -1 -1 -3 -3
Interest 0 0 0 0 0
Depreciation 0 0 0 0 0
Exceptional Income / Expenses 0 9 0 0 0
Profit Before Tax -1 8 -1 -3 -3
Provision for Tax 0 0 0 0 0
Profit After Tax -1 8 -1 -3 -3
Adjustments 0 -0 -0 0 0
Profit After Adjustments -1 8 -1 -3 -3
Adjusted Earnings Per Share -3.6 24.3 -2.8 -10.5 -9.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 10% 22% 0% 0%
Operating Profit CAGR 0% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -10% 11% 23% 11%
ROE Average -34% 16% 6% 6%
ROCE Average -25% 17% 8% 8%

Hipolin Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 5 12 11 8
Minority's Interest 0 0 0 0
Borrowings 0 0 0 1
Other Non-Current Liabilities 0 0 -0 -0
Total Current Liabilities 6 2 5 4
Total Liabilities 11 15 16 13
Fixed Assets 4 5 5 5
Other Non-Current Assets 1 6 6 3
Total Current Assets 5 4 5 5
Total Assets 11 15 16 13

Hipolin Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 0 0
Cash Flow from Operating Activities 3 -5 -2 -3
Cash Flow from Investing Activities -3 5 0 3
Cash Flow from Financing Activities -1 -0 1 1
Net Cash Inflow / Outflow -0 -0 0 0
Closing Cash & Cash Equivalent 0 0 0 0

Hipolin Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -3.56 24.35 -2.84 -10.47
CEPS(Rs) -3.36 24.6 -2.53 -10.17
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) 14.96 39.31 36.47 26.01
Core EBITDA Margin(%) -10.15 -7.72 -6.03 -15.27
EBIT Margin(%) -8.64 49.37 -4.04 -13.99
Pre Tax Margin(%) -9.11 49.03 -4.49 -15.2
PAT Margin (%) -9.12 49.03 -4.49 -15.2
Cash Profit Margin (%) -8.62 49.52 -4.02 -14.76
ROA(%) -10.54 59.99 -5.69 -22.41
ROE(%) -23.78 89.76 -7.47 -33.51
ROCE(%) -18.25 81.44 -6 -24.62
Receivable days 47.64 42.17 51.7 56.05
Inventory Days 15.34 18.92 21.71 21.37
Payable days 26.02 32.01 52.99 54.31
PER(x) 0 2.37 0 0
Price/Book(x) 3.36 1.47 3.6 3.33
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 1.15 1.19 2.18 1.38
EV/Core EBITDA(x) -14.09 -22.96 -61 -10.15
Net Sales Growth(%) 0 27.34 26.84 9.29
EBIT Growth(%) 0 827.53 -110.39 -278.17
PAT Growth(%) 0 784.57 -111.62 -269.88
EPS Growth(%) 0 784.28 -111.66 -268.71
Debt/Equity(x) 0.23 0.06 0.18 0.35
Current Ratio(x) 0.86 1.52 1.06 1.14
Quick Ratio(x) 0.77 1.06 0.81 0.82
Interest Cover(x) -18.21 147.96 -9.05 -11.6
Total Debt/Mcap(x) 0.07 0.04 0.05 0.11

Hipolin Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 73.73 73.73 73.14 72.87 71.07 71.45 70.79 70.58 69.9 60.22
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 26.27 26.27 26.86 27.13 28.93 28.55 29.21 29.42 30.1 39.78
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Hipolin News

Hipolin Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Debtor days have increased from 52.99 to 54.31days.
  • Stock is trading at 4.1 times its book value.
whatsapp