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HP Adhesives Limited

HP Adhesives Limited

NSE: HPAL
Specialty ChemicalsBasic MaterialsSMALL CAPMCap ₹314.1 Cr
₹34.19₹0.37 (+1.09%)

Market Closed • NSE

Market cap₹314.1 Cr
Enterprise value₹280.0 Cr
P/E TTM170.95
P/B1.66
EPS TTM₹0.20
ROCE5.52%
D/E2.26
Dividend yield0.01%
Face value₹2.00
52W high₹53.00
52W low₹26.52
Price chart(1Y)
1Y Return:-4.66% (₹1.67)
H: ₹42.6L: ₹32.11
1W+0.77%
1M-1.84%
3M+1.82%
6M-13.71%
1Y-26.12%
Today at a glance

Day range

₹34.00₹34.69

52 week range

₹26.52₹53.00
Volume20.2K0.52x 20D avg
Free float50.00%-48.10% volume

HP Adhesives Limited closed at INR34.19 (+1.09%) on volume 0.52x its 20-day average, trading 35.49% below its 52-week high.

Technical analysis
RSI (14)46.5Neutral (30–70)
MACDBEARISHBearish (Below signal)
ATR (14)₹1.49High
SMA 20₹34.48BEARISH
SMA 50₹35.17BEARISH
SMA 100₹35.07BEARISH
SMA 200₹36.05BEARISH
CPR bottom₹33.97
Pivot₹33.92
CPR top₹33.87
What changed recently?

2026-Q2

Q2 FY2026 Financial Results

PAT moved +61.6% QoQ

2026-09-15

DIVIDEND Announced

Dividend - Re 0.40 Per Share

2025-09-23

DIVIDEND Announced

Dividend - Re 0.40 Per Share

Shariah audit
Methodology: AAOIFI Shariah Standard No. 21
PASS4/4 criteria
Shariah Compliant
CriteriaNumeratorDenominatorValueThresholdStatus
Interest-bearing debt ratio₹4.2 Cr₹314.1 Cr1.35%≤ 33%PASS
Non-halal income ratio–₹249.3 Cr0.00%≤ 5%PASS
Illiquid assets ratio₹231.2 Cr₹232.1 Cr99.62%≥ 20%PASS
Receivables ratio–₹232.1 Cr—≤ 49%PASS
Valuation & sector context
MetricCompanySector
P/E170.9521.90
Forward P/E——
P/B1.662.20
EV/EBITDA—18.00
PEG—1.00
Earnings yield0.604.60
Growth & profitability
RevenuePAT
FY24PAT margin 8.90%
FY25PAT margin 7.20%
FY26PAT margin 2.80%

Revenue and PAT bars use independent scales to make their year-on-year direction readable.

Revenue CAGR 3Y-0.10%
Revenue CAGR 5Y+1.10%
PAT CAGR 3Y-27.10%
PAT CAGR 5Y-19.40%
Operating margin-2.54%
Net margin0.76%
Financial health & cash flow
Net debt₹3.3 CrModerate
Interest coverage2.70xEBIT / interest
CFO / PAT0.97x3Y average
Net debt / EBITDA—Leverage
Operating cash flow₹7.1 Cr
Capital expenditure–
Free cash flow₹-575.8 Lakh
Financial statements

Complete reported financial history · Values use the company's reporting currency

Hover over the chart for exact reported values. Percentage lines use the right-hand axis.

Fundamental scorecard
Overall35/100
Valuation35/100
Profitability50/100
Financial health20/100

A 0–100 quantitative summary of reported fundamentals. Use the underlying financials and risks for context; the score is not a buy or sell recommendation.

Strengths, risks & investment thesis

Strengths

Established operational history in the sector

Active institutional participation

Risks

Elevated Leverage Burden: Debt-to-Equity stands at 2.25x

Stretched Valuation: Trading at a high P/E multiple of 170.9x

Bull case

Market Leadership: Established operational scale in Specialty Chemicals.

Bear case

Macro Headwinds: Fluctuations in interest rates and sector-specific policy shifts could compress multiples.

Flip condition

Sustained quarterly EBITDA margin expansion above 20% would trigger an upgrade.

Shareholding pattern
Quarterly ownership historyLatest valid period · December 2024

Ownership distribution

Dec 2024Latest holding

Category trends

Hover over a period for exact holdings

80%53%27%0%Sept 2024Dec 2024
0.01%Institutional holding
28.64%Public holding
2Periods available
0.00%Promoter pledged
52.59KShareholders
Corporate Action

Complete dividend, bonus, split, rights and other action history

Record dateCorporate actionInformationAnnouncement dateEx-date
15 Sept 2026Dividend₹0.40 / share—15 Sept 2026
23 Sept 2025Dividend₹0.40 / share—23 Sept 2025
13 Sept 2024Dividend₹0.30 / share—13 Sept 2024
09 Nov 2023Dividend₹10.00 / share—09 Nov 2023
Delivery participation

Traded volume and delivery percentage across the latest 20 sessions

Average delivery (20D)68.83%+13.46% latest vs average
Highest delivery82.29%on 16 Oct
Average volume (20D)39.0KTrading-session average
Conviction trendStrengthening+13.46% latest reading
Traded volumeDelivery %
Peer comparison

Compare valuation, latest quarterly performance and year-on-year growth

8 companies
Company nameMarket cap ₹ CrP/E ratioDividend yield %Quarterly sales ₹ CrProfit after tax ₹ CrSales growth %Profit growth %
UltraTech Cement Limited
UltraTech Cement LimitedULTRACEMCO
Open analysis
₹3.21L37.592.21%₹25,799.47₹2,982.76+11.86%+20.17%
JSW Steel Limited
JSW Steel LimitedJSWSTEEL
Open analysis
₹2.97L12.050.59%₹47,364.00₹4,651.00+11.55%+112.96%
Hindustan Zinc Limited
Hindustan Zinc LimitedHINDZINC
Open analysis
₹2.28L13.372.07%₹13,687.00₹5,425.00+77.22%+146.14%
Asian Paints Limited
Asian Paints LimitedASIANPAINT
Open analysis
₹2.24L46.941.17%₹10,541.94₹1,539.25+17.94%+39.96%
Tata Steel Limited
Tata Steel LimitedTATASTEEL
Open analysis
₹2.19L19.832.27%₹60,794.00₹2,385.00+14.32%+18.83%
Hindalco Industries Limited
Hindalco Industries LimitedHINDALCO
Open analysis
₹2.02L12.320.56%₹84,825.00₹7,013.00+32.06%+75.15%
Grasim Industries Limited
Grasim Industries LimitedGRASIM
Open analysis
₹1.98L34.820.35%₹11,794.71₹246.65-70.60%-82.61%
Solar Industries India Limited
Solar Industries India LimitedSOLARINDS
Open analysis
₹1.81L90.930.06%₹3,668.00₹666.00+70.29%+88.67%
About HP Adhesives Limited
HP Adhesives Limited

Incorporated in 2021, HP Adhesives Ltd manufactures and distributes adhesives and sealants along with other ancillary products[1]

IndiaBasic Materials

Questions investors ask
Is HP Adhesives Limited Shariah compliant?

HP Adhesives Limited is currently screened as Shariah Compliant under AAOIFI Shariah Standard No. 21. Business activities align with Shariah permissible sectors. Debt to Market Cap (1.35%) complies with AAOIFI threshold (≤ 33%).

What is HP Adhesives Limited's current valuation relative to peers?

HP Adhesives Limited trades at a P/E of 170.9x compared to the sector median of 21.9x, and a Price-to-Book of 1.7x.

Is the company financially healthy?

The company has a Debt-to-Equity ratio of 2.25x. Interest coverage is 2.7x.

What are the historical revenue and profit growth rates?

Over the past 5 years, revenue compounded at 1.1% while net profit growth averaged -19.4%.

Market data is informational and may be delayed. Shariah screening follows the displayed methodology. This is not investment advice.

Market data may be delayed. Quote date: 2026-10-16. Financial figures relate to their stated reporting periods. This information is for research and is not a recommendation to buy or sell.