MSME (Udyam registered) Ministry of MSME
- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-19-0081148
Market Cap
₹294 Cr
HPAL · NSE
Share Price
₹29.93
-6.53% today
Revenue
₹249 Cr
FY 2025-26 · -0.2% YoY
EBITDA
₹12.27 Cr
Margin 4.9%
Net Profit
₹7.37 Cr
FY 2025-26 · -57.7% YoY
P/E (TTM)
124.2x
P/B 1.6x
ROE
3.8%
ROCE 5.2%
Debt / Equity
0.03
Interest cover 41.5x
About HP Adhesives Limited
Data last updated:
HP Adhesives Limited is a public limited company based in Mumbai, Maharashtra, India. It operates in the construction materials segment of the manufacturing sector. It was incorporated on 07 May 2019 and has been in existence for over 7 years.
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L24304MH2019PLC325019. Its GSTIN is 27AAECH9038A1ZR (Maharashtra). The company holds 3 GST registrations, all of them active. It is a listed company as per MCA records. Its shares are listed on BSE: 543433 and NSE: HPAL.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹18.37 Cr. It was formerly known as Hp Adhesives Private Limited. It is led by directors including Karan Haresh Motwani (Managing Director) and Surendra Kumar Mehta.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 11 Unique House Chakala Cross Road Andheri East, Mumbai, Maharashtra, India – 400099.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹249.28 Cr, a decline of 0.2% compared to the previous year. For the same year it recorded a net profit of ₹7.37 Cr (net margin 3%) and EBITDA of ₹12.27 Cr (EBITDA margin 4.9%). The net worth stands at ₹187.74 Cr (up 1.9% YoY). Total assets are valued at ₹192.67 Cr (down 0.1% YoY).
The company has about 553 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: HP Adhesives. As per MCA filings, the company has open charges of ₹49.33 Cr and satisfied charges of ₹18.15 Cr on record. Court records list 13 cases involving the company, including 11 filed by the company and 2 filed against it; 11 cases are pending. The company has 22 deals on record (19 market trades, 2 rights issues, 1 ipo); the latest was in January 2024. Its 9 peer companies in the Chemicals industry (Adhesives, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 5 larger and 4 smaller; the largest is Reagens India Polymer Additives Private Limited with revenue of ₹265.37 Cr. The company has 13 MSME Form 1 returns on record between 2020 and 2024, listing 2,952 overdue payments to 131 micro and small suppliers.
HP Adhesives Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-19-0081148). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hpadhesives.com.
Company details
CIN L24304MH2019PLC325019
Registration Number 325019
Incorporation Date 07 May 2019
ROC Mumbai
Listing Status Listed - Listed on NSE (HPAL); Listed on BSE (543433)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-MH-19-0081148
CIN history
HP Adhesives has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L24304MH2019PLC325019, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L24304MH2019PLC325019 | Current |
| U24304MH2019PLC325019 | Previous |
| U24304MH2019PTC325019 | Previous |
Key People
Karan Haresh Motwani Managing Director Surendra Kumar Mehta Director Anjana Haresh Motwani Director Recognitions & Rankings of HP Adhesives
Contact details
HP Adhesives Limited's registered office is in Mumbai, Maharashtra. Its website is hpadhesives.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address11 Unique House Chakala Cross Road Andheri East, Mumbai, Maharashtra, India – 400099
- IndustryManufacturing, Construction Materials
To see the full contact details of HP Adhesives Limited, buy the company report.
Comprehensive company report
HP Adhesives Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
HP Adhesives operates one associated brand: HP Adhesives. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Solvent-based adhesives, silicone sealants, and chemicals are manufactured. | hpadhesives.com |
Business activity
The main business activities of HP Adhesives are manufacturing and trade. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products and wholesale trading. 2 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C6 | Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products | |
| G | Trade | G1 | Wholesale Trading |
To see the full business activity and turnover split of HP Adhesives Limited, buy the company report.
Financials of HP Adhesives Limited
FY 2025-26 filings availableHP Adhesives Limited reported revenue of ₹249.28 Cr (down 0.2% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹249 Cr
-0.2% YoY
EBITDA
₹12.27 Cr
-52.9% YoY
Profit After Tax
₹7.37 Cr
-57.7% YoY
Net Worth
₹188 Cr
+1.9% YoY
Total Assets
₹193 Cr
-0.1% YoY
Total Debt
₹4.24 Cr
-45.0% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Income statement | |||
| Revenue | 249 | 250 | 236 |
| Revenue growth | -0.2% | +5.9% | - |
| EBITDA | 12.27 | 26.03 | 30.70 |
| EBITDA margin | +4.9% | +10.4% | +13.0% |
| Profit before tax | 7.37 | 23.74 | 28.12 |
| Net profit | 7.37 | 17.42 | 19.94 |
| Net profit margin | +3.0% | +7.0% | +8.5% |
| EPS (₹) | 0.76 | 1.99 | 2.24 |
| Balance sheet | |||
| Total assets | 193 | 193 | 173 |
| Net worth | 188 | 184 | 169 |
| Total debt | 4.24 | 7.71 | 3.16 |
| Cash & bank | 8.24 | 14.90 | 9.10 |
| Net working capital | 92.52 | 88.54 | 79.30 |
| Cash flow | |||
| Cash from operations | 7.08 | 17.13 | 21.64 |
| Cash from investing | (1.55) | (16.30) | (15.14) |
| Cash from financing | (7.78) | 1.52 | (6.10) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63.42 | 57.82 | 61.97 | 65.06 | 66.10 | 66.16 | 66.65 | 58.93 |
| Revenue growth (YoY) | -4.1% | -12.6% | -7.0% | +10.4% | +9.2% | - | - | - |
| Other income | 1.06 | 0.73 | 0.93 | 0.84 | 1.10 | 1.53 | 1.32 | 0.19 |
| EBITDA | (0.34) | (3.76) | 3.46 | 6.04 | 6.52 | 5.10 | 6.25 | 6.52 |
| EBITDA margin | -0.5% | -6.5% | +5.6% | +9.3% | +9.9% | +7.7% | +9.4% | +11.1% |
| Depreciation | 1.27 | 1.46 | 1.51 | 1.45 | 1.41 | 1.25 | 1.18 | 1.16 |
| Interest | 0.81 | 0.75 | 0.64 | 0.63 | 0.64 | 0.59 | 0.58 | 0.51 |
| Profit before tax | (1.36) | (5.24) | 2.24 | 4.80 | 5.57 | 4.79 | 5.81 | 5.04 |
| Tax | (0.45) | (2.86) | 0.62 | 1.26 | 1.37 | 1.20 | 1.61 | 0.88 |
| Net profit | (0.91) | (2.38) | 1.62 | 3.54 | 4.20 | 3.59 | 4.20 | 4.16 |
| EPS (₹) | (0.10) | (0.26) | 0.18 | 0.38 | 0.46 | 0.39 | 0.46 | 0.45 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 249 | 248 | 236 | 233 | 165 | 118 | 84.51 |
| Revenue growth | +0.2% | +5.2% | +1.3% | +41.6% | +39.3% | +39.8% | - |
| EBITDA | 12.30 | 25.57 | 30.70 | 17.63 | 11.29 | 11.97 | (3.25) |
| EBITDA margin | +5.0% | +10.3% | +13.0% | +7.6% | +6.9% | +10.1% | -3.9% |
| Profit before tax | 7.26 | 23.20 | 28.12 | 15.03 | 8.15 | 13.24 | (5.43) |
| Net profit | 7.49 | 17.85 | 19.94 | 11.84 | 6.01 | 10.07 | 2.70 |
| Net profit margin | +3.0% | +7.2% | +8.5% | +5.1% | +3.7% | +8.5% | +3.2% |
| EPS (₹) | 0.75 | 1.94 | 2.24 | 5.91 | 3.27 | 7.74 | (3.64) |
| Balance sheet | |||||||
| Total assets | 192 | 192 | 173 | 158 | 157 | 56.44 | 39.23 |
| Net worth | 187 | 184 | 169 | 148 | 137 | 12.66 | 2.48 |
| Total debt | 4.24 | 7.71 | 3.16 | 8.53 | 18.56 | 42.59 | 35.74 |
| Cash & bank | 8.15 | 14.82 | 9.10 | 1.40 | 47.68 | 0.83 | 0.76 |
| Net working capital | 92.11 | 88.29 | 79.29 | 69.74 | 95.72 | 28.44 | 23.77 |
| Cash flow | |||||||
| Cash from operations | 7.18 | 16.89 | 21.64 | (5.05) | (10.21) | 11.26 | 0.65 |
| Cash from investing | (1.65) | (16.13) | (15.14) | 7.54 | (66.81) | (16.23) | (5.08) |
| Cash from financing | (7.78) | 1.52 | (6.10) | (12.32) | 86.41 | 5.04 | 3.84 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63.34 | 57.70 | 61.39 | 65.13 | 66.13 | 65.44 | 65.72 | 58.87 |
| Revenue growth (YoY) | -4.2% | -11.8% | -6.6% | +10.6% | +9.3% | - | - | - |
| Other income | 1.02 | 0.67 | 0.93 | 0.79 | 1.05 | 1.58 | 1.29 | 0.17 |
| Total expenses | 63.54 | 61.43 | 58.06 | 59.05 | 59.51 | 59.91 | 59.77 | 52.39 |
| EBITDA | (0.20) | (3.73) | 3.33 | 6.08 | 6.62 | 5.53 | 5.95 | 6.48 |
| EBITDA margin | -0.3% | -6.5% | +5.4% | +9.3% | +10.0% | +8.5% | +9.1% | +11.0% |
| Depreciation | 1.27 | 1.45 | 1.50 | 1.45 | 1.41 | 1.25 | 1.17 | 1.15 |
| Interest | 0.81 | 0.75 | 0.64 | 0.63 | 0.64 | 0.59 | 0.58 | 0.51 |
| Profit before tax | (1.26) | (5.26) | 2.12 | 4.79 | 5.62 | 5.27 | 5.49 | 4.99 |
| Tax | (0.42) | (2.86) | 0.61 | 1.24 | 1.39 | 1.15 | 1.53 | 0.86 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 25 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63.42 | 57.82 | 61.97 | 65.06 | 66.10 | 66.16 | 66.65 | 58.93 |
| Revenue growth (YoY) | -4.1% | -12.6% | -7.0% | +10.4% | +9.2% | - | - | - |
| Other income | 1.06 | 0.73 | 0.93 | 0.84 | 1.10 | 1.53 | 1.32 | 0.19 |
| EBITDA | (0.34) | (3.76) | 3.46 | 6.04 | 6.52 | 5.10 | 6.25 | 6.52 |
| EBITDA margin | -0.5% | -6.5% | +5.6% | +9.3% | +9.9% | +7.7% | +9.4% | +11.1% |
| Depreciation | 1.27 | 1.46 | 1.51 | 1.45 | 1.41 | 1.25 | 1.18 | 1.16 |
| Interest | 0.81 | 0.75 | 0.64 | 0.63 | 0.64 | 0.59 | 0.58 | 0.51 |
| Profit before tax | (1.36) | (5.24) | 2.24 | 4.80 | 5.57 | 4.79 | 5.81 | 5.04 |
| Tax | (0.45) | (2.86) | 0.62 | 1.26 | 1.37 | 1.20 | 1.61 | 0.88 |
| Net profit | (0.91) | (2.38) | 1.62 | 3.54 | 4.20 | 3.59 | 4.20 | 4.16 |
| EPS (₹) | (0.10) | (0.26) | 0.18 | 0.38 | 0.46 | 0.39 | 0.46 | 0.45 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Revenue | 249 | 250 | 236 |
| Revenue growth | -0.2% | +5.9% | - |
| Other income | 3.60 | 4.58 | 3.59 |
| Total expenses | 237 | 224 | 205 |
| Employee cost | 37.90 | 32.09 | 26.87 |
| EBITDA | 12.27 | 26.03 | 30.70 |
| EBITDA margin | +4.9% | +10.4% | +13.0% |
| Depreciation | 5.83 | 4.72 | 4.29 |
| Interest | 2.67 | 2.15 | 1.88 |
| Profit before tax | 7.37 | 23.74 | 28.12 |
| Tax | 0.40 | 5.49 | 7.55 |
| Net profit | 7.37 | 17.42 | 19.94 |
| Net profit margin | +3.0% | +7.0% | +8.5% |
| EPS (₹) | 0.76 | 1.99 | 2.24 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Equity & liabilities | |||
| Share capital | 18.37 | 18.37 | 18.37 |
| Reserves & surplus | 169 | 166 | 151 |
| Shareholders' funds (net worth) | 188 | 184 | 169 |
| Minority interest | 0.00 | 0.00 | 0.00 |
| Secured loans | 3.26 | 5.54 | 0.15 |
| Unsecured loans | 0.98 | 2.17 | 3.01 |
| Total debt | 4.24 | 7.71 | 3.16 |
| Total liabilities | 193 | 193 | 173 |
| Assets | |||
| Gross block | 101 | 97.71 | 72.12 |
| Net block | 72.63 | 72.86 | 51.96 |
| Capital work in progress | 4.75 | 4.37 | 16.21 |
| Investments | 22.19 | 24.65 | 18.20 |
| Inventories | 50.50 | 56.49 | 47.69 |
| Sundry debtors | 37.26 | 41.74 | 36.48 |
| Cash & bank balances | 8.24 | 14.90 | 9.10 |
| Loans & advances | 35.95 | 9.74 | 10.92 |
| Total current assets | 132 | 123 | 104 |
| Total current liabilities | 39.43 | 34.33 | 24.89 |
| Net working capital | 92.52 | 88.54 | 79.30 |
| Total assets | 193 | 193 | 173 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Opening cash | 3.14 | 0.78 | 0.38 |
| Net cash from operating activities | 7.08 | 17.13 | 21.64 |
| Net cash from investing activities | (1.55) | (16.30) | (15.14) |
| Net cash from financing activities | (7.78) | 1.52 | (6.10) |
| Net change in cash | (2.25) | 2.36 | 0.40 |
| Closing cash | 8.24 | 14.90 | 9.10 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Growth | |||
| Sales growth | -0.2% | +5.9% | - |
| EBITDA growth | -52.9% | -15.2% | - |
| PBT growth | -69.0% | -15.6% | +9997.0% |
| Net income growth | -57.7% | -12.6% | - |
| Profitability & leverage | |||
| Net income margin | +2.8% | +7.3% | +8.7% |
| Return on capital employed | +5.2% | +14.2% | +17.4% |
| Return on net worth | +3.8% | +10.3% | +12.2% |
| Debt / equity | 0.03 | 0.03 | 0.02 |
| Long-term debt / equity | 0.00 | 0.01 | 0.01 |
| Interest cover | 41.46 | 10.09 | 7.12 |
| Efficiency & per share | |||
| Fixed asset turnover | 2.50 | 2.94 | 3.27 |
| Inventory turnover | 4.66 | 4.80 | 4.95 |
| Debtors turnover | 6.31 | 6.39 | 6.47 |
| EPS (₹) | 0.76 | 1.99 | 2.24 |
| Dividend per share (₹) | 0.40 | 0.40 | 0.30 |
| Book value per share (₹) | 20.43 | 20.06 | 18.38 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 63.34 | 57.70 | 61.39 | 65.13 | 66.13 | 65.44 | 65.72 | 58.87 |
| Revenue growth (YoY) | -4.2% | -11.8% | -6.6% | +10.6% | +9.3% | - | - | - |
| Other income | 1.02 | 0.67 | 0.93 | 0.79 | 1.05 | 1.58 | 1.29 | 0.17 |
| Total expenses | 63.54 | 61.43 | 58.06 | 59.05 | 59.51 | 59.91 | 59.77 | 52.39 |
| EBITDA | (0.20) | (3.73) | 3.33 | 6.08 | 6.62 | 5.53 | 5.95 | 6.48 |
| EBITDA margin | -0.3% | -6.5% | +5.4% | +9.3% | +10.0% | +8.5% | +9.1% | +11.0% |
| Depreciation | 1.27 | 1.45 | 1.50 | 1.45 | 1.41 | 1.25 | 1.17 | 1.15 |
| Interest | 0.81 | 0.75 | 0.64 | 0.63 | 0.64 | 0.59 | 0.58 | 0.51 |
| Profit before tax | (1.26) | (5.26) | 2.12 | 4.79 | 5.62 | 5.27 | 5.49 | 4.99 |
| Tax | (0.42) | (2.86) | 0.61 | 1.24 | 1.39 | 1.15 | 1.53 | 0.86 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 249 | 248 | 236 | 233 | 165 | 118 | 84.51 |
| Revenue growth | +0.2% | +5.2% | +1.3% | +41.6% | +39.3% | +39.8% | - |
| Other income | 3.44 | 4.48 | 3.59 | 2.93 | 2.83 | 5.72 | 2.32 |
| Total expenses | 236 | 223 | 205 | 215 | 153 | 106 | 87.76 |
| Employee cost | 37.86 | 32.06 | 26.87 | 20.44 | 16.18 | 14.27 | 11.14 |
| EBITDA | 12.30 | 25.57 | 30.70 | 17.63 | 11.29 | 11.97 | (3.25) |
| EBITDA margin | +5.0% | +10.3% | +13.0% | +7.6% | +6.9% | +10.1% | -3.9% |
| Depreciation | 5.81 | 4.70 | 4.29 | 3.24 | 2.84 | 1.90 | 1.90 |
| Interest | 2.67 | 2.15 | 1.88 | 2.29 | 3.13 | 2.55 | 2.60 |
| Profit before tax | 7.26 | 23.20 | 28.12 | 15.03 | 8.15 | 13.24 | (5.43) |
| Tax | 0.37 | 5.35 | 7.55 | 4.17 | 2.14 | 3.17 | (0.69) |
| Net profit | 7.49 | 17.85 | 19.94 | 11.84 | 6.01 | 10.07 | 2.70 |
| Net profit margin | +3.0% | +7.2% | +8.5% | +5.1% | +3.7% | +8.5% | +3.2% |
| EPS (₹) | 0.75 | 1.94 | 2.24 | 5.91 | 3.27 | 7.74 | (3.64) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 18.37 | 18.37 | 18.37 | 18.37 | 18.37 | 13.00 | 13.00 |
| Reserves & surplus | 169 | 166 | 151 | 130 | 119 | (0.34) | (10.52) |
| Shareholders' funds (net worth) | 187 | 184 | 169 | 148 | 137 | 12.66 | 2.48 |
| Secured loans | 3.26 | 5.54 | 0.15 | 2.99 | 13.50 | 42.20 | 25.32 |
| Unsecured loans | 0.98 | 2.17 | 3.01 | 5.54 | 5.06 | 0.39 | 10.42 |
| Total debt | 4.24 | 7.71 | 3.16 | 8.53 | 18.56 | 42.59 | 35.74 |
| Total liabilities | - | - | 173 | 158 | 157 | 56.44 | 39.23 |
| Assets | |||||||
| Gross block | 101 | 96.94 | 72.12 | 54.62 | 38.33 | 29.37 | 19.08 |
| Net block | 72.40 | 72.61 | 51.96 | 38.75 | 25.70 | 19.22 | 10.80 |
| Capital work in progress | 4.75 | 4.37 | 16.21 | 17.26 | 17.54 | 6.52 | 1.20 |
| Investments | 22.33 | 24.74 | 18.20 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 50.18 | 56.15 | 47.69 | 44.86 | 41.17 | 32.40 | 18.52 |
| Sundry debtors | 37.28 | 41.78 | 36.48 | 37.25 | 32.05 | 22.87 | 19.80 |
| Cash & bank balances | 8.15 | 14.82 | 9.10 | 1.40 | 47.68 | 0.83 | 0.76 |
| Loans & advances | 35.86 | 9.73 | 10.91 | 13.16 | 13.43 | 5.68 | 2.27 |
| Total current assets | 131 | 122 | 104 | 96.67 | 134 | 61.78 | 41.35 |
| Total current liabilities | 39.36 | 34.19 | 24.89 | 26.93 | 38.61 | 33.34 | 17.58 |
| Net working capital | 92.11 | 88.29 | 79.29 | 69.74 | 95.72 | 28.44 | 23.77 |
| Total assets | 192 | 192 | 173 | 158 | 157 | 56.44 | 39.23 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 3.06 | 0.78 | 0.38 | 10.21 | 0.83 | 0.76 | 1.35 |
| Net cash from operating activities | 7.18 | 16.89 | 21.64 | (5.05) | (10.21) | 11.26 | 0.65 |
| Net cash from investing activities | (1.65) | (16.13) | (15.14) | 7.54 | (66.81) | (16.23) | (5.08) |
| Net cash from financing activities | (7.78) | 1.52 | (6.10) | (12.32) | 86.41 | 5.04 | 3.84 |
| Net change in cash | (2.26) | 2.28 | 0.40 | (9.83) | 9.38 | 0.07 | (0.59) |
| Closing cash | 8.15 | 14.82 | 9.10 | 1.40 | 47.68 | 0.83 | 0.76 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +0.2% | +5.2% | +1.3% | +41.6% | +39.3% | +39.8% | - |
| EBITDA growth | -51.9% | -16.7% | +74.1% | +56.2% | -5.7% | +468.3% | - |
| PBT growth | -68.7% | -17.5% | +87.1% | +84.4% | -38.4% | +9998.0% | +9997.0% |
| Net income growth | -58.0% | -10.5% | +68.4% | +97.0% | -40.3% | +273.0% | - |
| Revenue CAGR (3Y) | +2.2% | +14.7% | +25.9% | +40.2% | - | - | - |
| EBITDA CAGR (3Y) | -11.3% | +31.3% | +36.9% | - | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +2.8% | +7.2% | +8.7% | +4.7% | +3.7% | +8.5% | -5.6% |
| Return on capital employed | +5.6% | +13.9% | +18.2% | +11.0% | +10.6% | +32.9% | 0.0% |
| Return on net worth | +4.0% | +10.1% | +13.0% | +7.6% | +8.0% | +130.0% | 0.0% |
| Debt / equity | 0.03 | 0.03 | 0.04 | 0.09 | 0.41 | 5.17 | 14.41 |
| Long-term debt / equity | 0.00 | 0.01 | 0.02 | 0.05 | 0.11 | 0.67 | 0.61 |
| Interest cover | 41.14 | 10.30 | 7.12 | 15.91 | 37.04 | 25.32 | -50.49 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.52 | 2.94 | 3.72 | 5.01 | 4.86 | 4.88 | 4.43 |
| Inventory turnover | 4.68 | 4.78 | 5.10 | 5.42 | 4.47 | 4.64 | 4.56 |
| Debtors turnover | 6.29 | 6.34 | 6.40 | 6.72 | 5.99 | 5.54 | 4.27 |
| EPS (₹) | 0.75 | 1.94 | 2.24 | 5.91 | 3.27 | 7.74 | (3.64) |
| Dividend per share (₹) | 0.40 | 0.40 | 0.30 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 20.38 | 20.01 | 18.38 | 80.70 | 74.74 | 9.74 | 1.91 |
To see the full year-wise statements and ratios of HP Adhesives Limited, buy the company report.
Board of directors of HP Adhesives Limited
HP Adhesives has 6 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Surendra Kumar Mehta | Director | 23 Jun 2021 | 5 Years 4 Months | Current |
| Karan Haresh Motwani Also directs: HP Composites LLP, Unitybond Solutions Private Limited, HP International Limited and 2 more | Managing Director | 07 May 2019 | 7 Years 5 Months | Current |
| Anjana Haresh Motwani Also directs: HP International Limited, HDM Estates Private Limited | Director | 07 May 2019 | 7 Years 5 Months | Current |
| Rajendra Kumar Jain | Director | 05 Jul 2021 | 5 Years 3 Months | Current |
| Nidhi Haresh Motwani Also directs: Unitybond Solutions Private Limited | Director | 10 Feb 2022 | 4 Years 8 Months | Current |
| Chandra Sekhar Nettem | Director | 12 Feb 2026 | 0 Years 8 Months | Current |
Peer comparison
HP Adhesives Limited is compared with the 9 companies closest to it by revenue in the Chemicals industry (Adhesives, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Reagens India Polymer Additives Private Limited | ₹265.37 Cr (FY 2025) | 122.0% | Vagra, Gujarat, India | |||
| Kairav Chemofarbe Industries Limited | ₹264.99 Cr (FY 2025) | 15.0% | Mumbai, Maharashtra, India | |||
| Admark Polycoats Private Limited | ₹263.7 Cr (FY 2025) | 1.0% | Vadodara, Gujarat, India | |||
| Gujarat Credo Alumina Chemicals Limited | ₹262.35 Cr (FY 2025) | 34.0% | Ahmedabad, Gujarat, India | |||
| Tristar Intermediates Private Limited | ₹261.82 Cr (FY 2025) | 3.0% | Mumbai, Maharashtra, India | |||
| Arcl Organics Limited | ₹252.95 Cr (FY 2025) | 31.0% | Kolkata, West Bengal, India | |||
| Sap Oleochemicals Private Limited | ₹252.2 Cr (FY 2025) | 13.0% | Daund, Maharashtra, India | |||
| Astra Chemtech Private Limited | ₹251.58 Cr (FY 2025) | 13.0% | Mumbai, Maharashtra, India | |||
| HP Adhesives Limitedthis company | ₹249.28 Cr (FY 2026) | ₹7.37 Cr | 3% | -0.2% | 553 | Mumbai, Maharashtra, India |
| Basf Performance Polyamides India Private Limited | ₹246.86 Cr (FY 2019) | 42.0% | Mumbai, Maharashtra, India |
To see the full peer comparison of HP Adhesives Limited, buy the company report.
Auditor
HP Adhesives Limited is audited by Priya Choudhary & Associates LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Priya Choudhary & Associates LLP | FY 2023 | 011506C/C400307 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 71.40%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00% and retail and other public shareholders hold 28.60%.
Sep 2026
QUARTER
71.40% Promoters
28.60% Retail & Others
Promoter holding - history
Now 71.40% · Sep 2026High 71.40% · Dec 2025Low 71.40% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 71.40% | 71.40% | 71.40% | 71.40% |
| Public | 28.60% | 28.60% | 28.60% | 28.60% |
Charges & borrowings
Open charges
₹49.33 Cr
Satisfied charges
₹18.15 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 15 Jul 2026 | 101351108 | Others | ₹2.16 Cr | Open | |
| 07 Feb 2024 | 100867815 | Others | ₹45 Lakh | Open | |
| 24 Dec 2019 | 100315139 | Others | ₹25.71 Cr | Open | |
| 31 Jul 2019 | 100281091 | Others | ₹21.01 Cr | Open | |
| 27 Mar 2021 | 100430781 | Others | ₹5.75 Cr | Satisfied |
To see the full charge records of HP Adhesives Limited, buy the company report.
Total charge records: 7 View all charges
Deals & funding
HP Adhesives Limited has 22 deals on record (19 market trades, 2 rights issues, 1 ipo); the latest was in January 2024.
Total deals
22
Market trades
19
Rights issues
2
IPO
1
Deals on record (5 of 22)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jan 2024 | Market trade | ₹9.94 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Aug 2023 | Market trade | ₹6.13 Cr | Buyer: Jainam Broking Limited Seller: M/S. Prarthana Enterprises |
| May 2023 | Market trade | ₹6.01 Cr | Buyer: Anant Wealth Consultants Private Limited Seller: Anant Wealth Consultants Private Limited |
| May 2023 | Market trade | ₹13.58 Cr | Buyer: SW Capital Private Limited , Mithani Investment And Trading Private Limited Seller: SW Capital Private Limited , Mithani Investment And Trading Private Limited, an individual |
| Jan 2023 | Market trade | ₹20.61 Cr | Buyer: SW Capital Private Limited , B.W.Traders, an individual Seller: SW Capital Private Limited , B.W.Traders |
To see the full deal history of HP Adhesives Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
HP Adhesives Limited has 13 court cases on record: 11 filed by HP Adhesives, 2 filed against it. 11 cases are pending and 2 are disposed.
Total cases
13
Filed by the company
11
Filed against the company
2
Pending
11
Disposed
2
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 10 | 1 | 9 |
| High courts | 3 | 1 | 2 |
Cases on record (5 of 13)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summons Private cases SS) | Filed by the company against J J Distributors Private Limited and Ors and 2 others | Pending |
| Bombay High Court | Court case (COMAS) | Filed by the company against Maersk Line India Pvt. Ltd. | Pending |
| District court, Raigad, Maharashtra | Court case (Sum.Civ.Suit) | Filed by the company against an individual | Pending |
| District court, Raigad, Maharashtra | Court case (Sum.Civ.Suit) | Filed by the company against an individual | Pending |
| District court, Raigad, Maharashtra | Court case (Sum.Civ.Suit) | Filed by the company against an individual | Pending |
To see the full case history of HP Adhesives Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
HP Adhesives Limited was last rated by Care on 12 Nov 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 12 Nov 2021 |
To see the full credit ratings and regulatory alerts of HP Adhesives Limited, buy the company report.
MSME payment delays
HP Adhesives Limited has 13 MSME Form 1 returns on record between 2020 and 2024, listing 2,952 overdue payments to 131 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 131)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| Parekh Plastics | |||
| Swami Samarth Polyfilm Industries Private Limited | |||
| Hritik Chemicals Private Limited |
To see the full MSME payment records of HP Adhesives Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
HP Adhesives Limited has a workforce of 553 employees on its EPFO records as of Apr 10, 2024, across 1 active EPFO establishment.
Employee count
553
Active EPFO establishments
1
Employee growth
27.71%
GST
HP Adhesives has 3 GST registrations: 3 active.
Total GSTINs
3
Active
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAECH9038A1ZR | Maharashtra | Active | 10 May 2019 |
| 29AAECH9038A1ZN | Karnataka | Active | 27 May 2019 |
| 08AAECH9038A1ZR | Rajasthan | Active | 18 Jun 2019 |
To see the full GST registrations and return filing status of HP Adhesives Limited, buy the company report.
Recent activity
HP Adhesives Limited has 9 board changes on record since 2019: 8 appointments and 1 cessation. The latest: Chandra Sekhar Nettem was appointed as Director on 12 Feb 2026.
Charges
A charge with Others amounted to Rs. 2.16 Cr with Charge ID 101351108 was registered on 15 Jul 2026.
Filing
Hp Adhesives Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai I.
Appointed
Chandra Sekhar Nettem was appointed as Director.
AGM
Hp Adhesives Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge registered on 29 Sep 2020 via Charge ID 100373218 with Others was fully satisfied on 16 Aug 2024.
Charges
A charge registered on 05 Feb 2021 via Charge ID 100410497 with Others was fully satisfied on 22 Feb 2024.
Charges
A charge with Others amounted to Rs. 0.45 Cr with Charge ID 100867815 was registered on 07 Feb 2024.
Charges
A charge with Others of Rs. 25.71 Cr registered on 24 Dec 2019 with Charge ID 100315139 was modified on 02 Jun 2023.
Charges
A charge registered on 27 Mar 2021 via Charge ID 100430781 with Others was fully satisfied on 22 Feb 2023.
Appointed
Nidhi Haresh Motwani was appointed as Director.
Charges
A charge with Others of Rs. 21.01 Cr registered on 31 Jul 2019 with Charge ID 100281091 was modified on 18 Sep 2021.
Appointed
Ajeet Anant Walavalkar was appointed as Director.
12 earlier events are in the company report.
News
Frequently asked questions
HP Adhesives is an active public limited company based in Mumbai, Maharashtra, India. The company works in construction materials, within the manufacturing industry. It was incorporated on 07 May 2019 (7+ years old) and is registered under CIN L24304MH2019PLC325019. Listed on BSE: 543433 and NSE: HPAL.
HP Adhesives reported revenue of ₹249.28 Cr for FY 2025-26 (down 0.2% YoY) based on consolidated financials.
HP Adhesives has 6 current directors:
- Karan Haresh Motwani - Managing Director
- Surendra Kumar Mehta - Director
- Anjana Haresh Motwani - Director
- Rajendra Kumar Jain - Director
- Nidhi Haresh Motwani - Director
- Chandra Sekhar Nettem - Director
The latest financial statements of HP Adhesives on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2020 are in the company report.
The GSTIN of HP Adhesives is 27AAECH9038A1ZR, registered in Maharashtra. The company has 3 GST registrations in all, of which 3 are active. Other active GSTINs include 29AAECH9038A1ZN (Karnataka), 08AAECH9038A1ZR (Rajasthan).
The CIN (Corporate Identification Number) of HP Adhesives is L24304MH2019PLC325019. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. HP Adhesives is a listed company as per MCA records. Its shares are listed on both BSE (code: 543433) and NSE (symbol: HPAL).
HP Adhesives has 13 court cases on record: 11 filed by the company and 2 filed against it. 11 are pending. Most are in the district courts.
HP Adhesives was incorporated on 07 May 2019, making it 7+ years old. It is registered with the Registrar of Companies, Mumbai.
HP Adhesives has 22 deals on record (19 market trades, 2 rights issues, 1 ipo); the latest was in January 2024.
The peers of HP Adhesives by revenue are Reagens India Polymer Additives Private Limited, Kairav Chemofarbe Industries Limited, Admark Polycoats Private Limited, Gujarat Credo Alumina Chemicals Limited, Tristar Intermediates Private Limited and 4 more, all in the Chemicals industry (Adhesives, Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).
Chandra Sekhar Nettem was appointed as Director on 12 Feb 2026. Nidhi Haresh Motwani was appointed as Director on 10 Feb 2022. Ajeet Anant Walavalkar was appointed as Director on 05 Jul 2021. HP Adhesives has 9 board changes on record in total.