Hindustan Adhesives
- Market cap
- ₹ 197 Cr.
- P/E
- 8.3x
- P/B
- 1.79x
- 52-week range
- 335.55 – 402.65
- ROE
- 17%
- ROCE
- 15%
- Dividend yield
- 0%
- Debt / equity
- 1.13
- Sector
- Industrial Products
- Industry
- Plastic Products - Industrial
- Listed on
- NSE, BSE
About
Hindustan Adhesives Limited is an India-based company, which is engaged in the business of manufacturing adhesives tape, biaxially oriented polypropylene films (BOPP) film and Polyolefin Shrink Film. The Company is also an integrated producer of carton sealing tapes in the country and has production facilities for making BOPP adhesive tapes with both acrylic and hot-melt technology. It also has its own adhesive making facility along with facilities for making paper cores and cartons in-house, besides multiple printing equipment, slitting and spooling facilities to make import substitute products for both the domestic and international markets. The Company also produces various types of specialty tapes, such as filament tapes, carry handle tapes, tear tapes and tamper evident tapes, among others. The Company’s plants are located at Gautambudh Nagar District, Uttar Pradesh; Haridwar District Uttarakhand, and Mundra District, Gujarat.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Plastic Products - Industrial: 78 companies →Hindustan Adhesives against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)8.3 against a typical 20.5: cheaper than most peers (1st = cheapest).10th of 76
- Sales growth+16.7% against a typical +14.5% from a year earlier.31st of 66
- Profit growth+200% against a typical +15.3% from a year earlier.6th of 55
- Size₹ 197.5 Cr. market value against a typical ₹ 104.4 Cr. (1st = largest).24th of 68
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Look closer
Rated BBB to B- by 2 agencies- India Ratings expects things to get worse (negative outlook).
- The agencies don't fully agree: CARE says BBB, India Ratings says B-.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| India Ratings | IND B-(NCO); IND A4(NCO) | Negative | 2 Apr 2026 |
| CARE | CARE BBB | Stable | 16 Mar 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 2 Apr 2026 | Rating action | IND B-(NCO) | — | India Ratings | ₹ 47.94 Cr. | |
| 16 Mar 2026 | Reaffirmed | CARE BBB (Rating Watch with Negative Implications) → CARE BBB | — | CARE | ₹ 105 Cr. | |
| 5 Sep 2025 | Reaffirmed | CARE BBB (Rating Watch with Negative Implications) | — | CARE | ₹ 86.67 Cr. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 81 | 70 | 72 | 64 | 84 | 73 | 64 | 66 | 66 | 67 | 58 | 77 |
| Expenses | 73 | 61 | 64 | 59 | 74 | 64 | 53 | 58 | 55 | 55 | 50 | 55 |
| Operating Profit | 8 | 10 | 8 | 5 | 10 | 9 | 10 | 9 | 11 | 11 | 8 | 22 |
| OPM % | 10% | 14% | 11% | 8% | 12% | 12% | 16% | 13% | 17% | 17% | 14% | 28% |
| Other Income | 1 | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 2 | 2 | 2 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 2 | 2 | 3 | 4 | 3 |
| Profit before tax | 6 | 7 | 4 | 3 | 7 | 6 | 5 | 5 | 8 | 8 | 2 | 17 |
| Tax % | 31% | 36% | 10% | 25% | 25% | 26% | 37% | 27% | 22% | 29% | −1% | 26% |
| Net Profit | 4 | 5 | 4 | 2 | 5 | 5 | 3 | 4 | 7 | 6 | 2 | 12 |
| EPS in Rs | 7.56 | 8.89 | 7.35 | 4.16 | 10.5 | 8.97 | 6.45 | 7.33 | 12.74 | 10.89 | 3.81 | 24.02 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 14%
- 5 Years
- 4%
- 3 Years
- −7%
- TTM
- −7%
- 10 Years
- 24%
- 5 Years
- 15%
- 3 Years
- 54%
- TTM
- 60%
- 10 Years
- 25%
- 5 Years
- 4%
- 3 Years
- 6%
- TTM
- —
- 10 Years
- 18%
- 5 Years
- 18%
- 3 Years
- 19%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Hindustan Adhesives | ₹ 365.00 | ₹ 197 Cr. | 8.3x | 1.8x | 17% | — |
| EPL | ₹ 221.40 | ₹ 7,080 Cr. | 18.6x | 2.7x | 14.9% | 8.3% |
| AGI Greenpac | ₹ 686.05 | ₹ 4,441 Cr. | 12.7x | 1.9x | 15.6% | 13.2% |
| Uflex | ₹ 555.20 | ₹ 4,015 Cr. | 9.5x | 0.4x | 4.1% | 2.1% |
| TCPL Packaging | ₹ 3,842.10 | ₹ 3,489 Cr. | 27.3x | 4.1x | 14.4% | 5.4% |
| Mold-Tek Packaging | ₹ 290.00 | ₹ 966 Cr. | 32x | 3.4x | 11% | 8.2% |
Management
- Amit Kumar Jha
- Compliance Officer, Company Secretary
- Madhusudan Bagla
- Managing Director, Executive Director
- Kailash Chand Dwivedi
- Director - Executive Director
- Ashok Kumar Pathak
- Whole-Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.