Hindware Home Innovation LimitedQ1 FY27 Results & Financial Update
Hindware Home Innovation Limited: Q1 FY27 consolidated results and company financials – revenue ₹625.25 Cr, PAT ₹4.37 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Hindware Home Innovation price & chart
Market priceLoading…
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Hindware Home Innovation Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Hindware Home Innovation Limited recorded consolidated revenue from operations of INR 625.25 crore for the first quarter of fiscal year 2027, accompanied by total income of INR 628.98 crore.
Profit before tax (PBT) for the quarter stood at INR 7.34 crore, while net profit after tax (PAT) was reported at INR 4.37 crore, resulting in basic and diluted earnings per share (EPS) of INR 0.52.
The consolidated financial performance reflects the combined operations of the core bathware, plastic pipes and fittings, and consumer appliances businesses during a period influenced by seasonal softness and competitive market dynamics.
Management commentary in accompanying investor disclosures noted that the bathware segment achieved management-reported sales growth of approximately 14% year-on-year to INR 387 crore, supported by balanced contributions from retail and institutional channels.
The plastic pipes and fittings division faced industry headwinds including currency and PVC resin price volatility, ongoing capacity ramp-up pressures following the commercialization of the Roorkee plant, and aggressive pricing competition.
The consumer appliances segment reported revenue of approximately INR 83 crore, reflecting a year-on-year growth rate of 16%, alongside strategic restructuring of subsidiaries such as Hintastica Private Limited to operate on an asset-light model.
Hindware Home Innovation Limited posted consolidated revenue from operations of INR 625.25 crore for the first quarter ended June 30, 2026, accompanied by total income of INR 628.98 crore.
Profit before tax (PBT) for Q1 FY27 stood at INR 7.34 crore, reflecting compressed margins across operating segments.
01 · Business model
What does Hindware Home Innovation do?
Hindware Home Innovation Limited operates primarily through its building products and consumer appliances divisions, offering an extensive portfolio spanning sanitaryware, faucets, plastic pipes and fittings, and kitchen appliances.
The building products division, conducted via its major subsidiary Hindware Limited, manufactures sanitaryware, wellness products, tiles, and fittings under established brands such as Hindware, Hindware Italian Collection, Queo, and Truflo by Hindware.
The consumer appliances segment focuses on kitchen solutions including chimneys, hobs, cooktops, and water heaters, distributed through an extensive network of general trade, modern retail, e-commerce, and institutional channels.
The operating model leverages extensive manufacturing footprints across key Indian states, robust distribution touchpoints, and aggressive premiumization strategies targeting both retail homebuilders and institutional project developers.
02 · Historical context
What shaped the business before this quarter
Commercial production at the Roorkee, Uttarakhand pipes manufacturing facility commenced on 30 January 2026, expanding the company's total installed pipes capacity to over 78,500 MTPA by Q1 FY27.
The Board previously approved a composite scheme of arrangement involving the demerger of the consumer products business into a wholly-owned subsidiary, HHIL Limited, and the amalgamation of the remaining company into Hindware Limited, with an appointed date of 1 April 2025.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹625.25 Cr |
| Total income | ₹628.98 Cr |
| Profit before tax | ₹7.34 Cr |
| Profit after tax | ₹4.37 Cr |
| EPS | ₹0.52 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue mix for Q1 FY27 comprised approximately 62% from Bathware, 24% from Plastic Pipes & Fittings, and 14% from Consumer Products.
Consumer appliances revenue reached approximately INR 83 crore during Q1 FY27, representing a management-stated year-on-year growth of 16%.
Management reported bathware sales at approximately INR 387 crore for Q1 FY27, up from INR 341 crore in Q1 FY26, driven by retail demand and institutional project sales contributing around 25%.
The bathware business reported management-stated sales of INR 387 crore in Q1 FY27, representing a ~14% increase year-over-year compared to INR 341 crore in Q1 FY26.
Standalone consumer appliances revenue reached approximately INR 83 crore in Q1 FY27, marking a 16% year-over-year growth from INR 71 crore in Q1 FY26.
What drove margins
Margins in the pipes business were impacted by raw material price volatility, particularly PVC resin, and competitive pricing pressures in the marketplace.
Bathware EBITDA performance benefited from improved product mix and operating leverage, while consumer appliances maintained gross margins in the 35-40% range.
The company incurred finance costs of INR 17.40 crore and depreciation and amortization expenses of INR 29.94 crore during the quarter.
Margins during the quarter were affected by rising input costs, currency fluctuations, and PVC resin price volatility.
The capacity ramp-up phase at the newly commissioned Roorkee pipes plant exerted temporary downward pressure on operational margins.
05 · Demand, customers & order book
Where demand is coming from
The bathware network encompasses over 500 brand stores, 500 distributors, and 35,000 retailers, while the Truflo pipes business engages over 320 distributors, 30,000 dealers, and a community of 100,000+ plumbers.
Institutional and project sales accounted for approximately 25% of the bathware business, complementing widespread general trade retail distribution.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Bathware revenue reached INR 387 crore in Q1 FY27 with EBITDA of INR 46 crore (12% margin), supported by manufacturing facilities in Bahadurgarh (Haryana) and Bibinagar (Telangana).
Pipes and fittings revenue stood at INR 153 crore in Q1 FY27, generating an EBITDA of INR 5 crore (3% margin) as the newly operational Roorkee plant continued its capacity ramp-up.
Consumer appliances achieved revenue of approximately INR 83 crore with standalone EBITDA of INR 6 crore (7% margin), backed by portfolio rationalization focused on chimneys, hobs, and sinks.
Bathware reported Q1 FY27 EBITDA of INR 46 crore (12% margin) and EBIT of INR 30 crore, supported by a balanced revenue mix where institutional and project sales contributed around 25%.
Pipes & fittings reported Q1 FY27 revenue of INR 153 crore, EBITDA of INR 5 crore (3% margin), and an EBIT loss of INR 6 crore, impacted by competitive pricing pressure and seasonal softness in plumbing demand where CPVC accounted for ~32% of value mix.
HHIL standalone operations generated EBITDA of INR 6 crore (7% margin) and PBT of INR 1 crore for Q1 FY27, benefiting from portfolio rationalisation focused on continuous-selling items like chimneys, hobs, and sinks.
Geography and market mix
Manufacturing operations are anchored across multiple states including Haryana, Telangana, Rajasthan, and Uttarakhand, serving a pan-India distribution network.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total installed capacity for plastic pipes and fittings stood at over 78,500 MTPA, led by the flagship Sangareddy facility (66,000+ MTPA) and the newer Roorkee plant (12,500 MTPA).
Sanitaryware manufacturing capacity stands at 1.75 million pieces per annum in Bahadurgarh and 2.1 million pieces per annum in Bibinagar, alongside 3.7 million pieces per annum of faucet manufacturing capacity in Kaharani, Rajasthan.
Manufacturing footprint includes 1.75 million pieces per annum (Mn p.a.) in Bahadurgarh, Haryana, and 2.1 Mn p.a. in Bibinagar, Telangana for sanitaryware, alongside 3.7 Mn p.a. faucets capacity in Kaharani, Rajasthan.
Total installed pipes capacity stands at 78,500+ MTPA, comprising 66,000+ MTPA in Sangareddy, Telangana and 12,500 MTPA in Roorkee, Uttarakhand.
Pipes sales volume reached 10,221 metric tonnes in Q1 FY27 against an available capacity of 19,710 metric tonnes.
Projects, capex and execution
Following commercialization on 30 January 2026, the 12,500 MTPA Roorkee facility continued its capacity ramp-up phase through Q1 FY27.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Hintastica Private Limited (HPL) transitioned to a wholly-owned subsidiary in Q1 FY27, operating on a leaner, asset-light model for water heaters and appliances.
Continued focus on high value-added categories including smart toilets, designer basins, DWC pipes, foam-core pipes, and plastic fire-sprinkler systems.
09 · Reported developments
What changed operationally
The 'Designed for Sukoon' live marketing campaign successfully reinforced brand positioning and premiumization goals in the bathware division.
Pipes sales volume reached 10,221 MT in Q1 FY27 compared to 8,003 MT in Q1 FY26, reflecting underlying demand growth despite pricing headwinds.
10 · Pressure points & risks
What is not going smoothly
Pipes segment profitability faced pressure, with EBIT and PBT turning negative (EBIT at INR -6 crore and PBT at INR -15 crore) due to resin price volatility and aggressive competition.
Currency volatility and competitive pricing pressures created near-term headwinds across operating segments.
Aggressive competition, pricing pressures, and volatility in raw material and currency markets constrained profitability during the quarter.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net working capital days stood at 87 days for the combined bathware and pipes business in Q1 FY27, improving from 99 days in FY25.
Net bank debt for the bathware and pipes segments combined stood at INR 651 crore as of Q1 FY27, excluding an inter-company loan of INR 98 crore extended by Hindware Home Innovation Limited to Hindware Limited.
Net working capital days for the consolidated bathware and pipes business stood at 87 days in Q1 FY27, compared to 92 days in Q1 FY26.
Capital allocation & funding
Hindware Home Innovation Limited extended an inter-company loan of INR 98 crore to its subsidiary Hindware Limited.
12 · Management guidance & targets
What management is targeting from here
Management aims for mid-teen sales growth in the bathware business for FY27, supported by improving market conditions.
Management targets consumer appliances revenue to cross INR 500+ crore within 2 years, scaling to INR 700-750 crore by FY31.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Scheme of Arrangement Progress
The Composite Scheme of Arrangement received requisite approvals from unsecured creditors and equity shareholders during NCLT-convened meetings held on 7 March 2026.
Reported update
Sustainability Initiatives
The company advanced environmental measures including rooftop solar installations across plants, zero-discharge water systems, rainwater harvesting, and energy-efficient motor robotics.
14 · Key Q&A
The quarter, answered directly
What does Hindware Home Innovation do?
Hindware Home Innovation Limited operates primarily through its building products and consumer appliances divisions, offering an extensive portfolio spanning sanitaryware, faucets, plastic pipes and fittings, and kitchen appliances.
What is the clearest takeaway from Q1 FY27?
Hindware Home Innovation Limited recorded consolidated revenue from operations of INR 625.25 crore for the first quarter of fiscal year 2027, accompanied by total income of INR 628.98 crore.
What drove revenue or demand?
Consolidated revenue mix for Q1 FY27 comprised approximately 62% from Bathware, 24% from Plastic Pipes & Fittings, and 14% from Consumer Products.
What mattered most for margins or profitability?
Margins in the pipes business were impacted by raw material price volatility, particularly PVC resin, and competitive pricing pressures in the marketplace.
What changed operationally beyond the headline numbers?
Total installed capacity for plastic pipes and fittings stood at over 78,500 MTPA, led by the flagship Sangareddy facility (66,000+ MTPA) and the newer Roorkee plant (12,500 MTPA).
What is management guiding or targeting from here?
Management aims for mid-teen sales growth in the bathware business for FY27, supported by improving market conditions.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Appliance Scale-up: Observe revenue progression toward the management target of INR 500+ crore in the consumer appliances division.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.