HP Adhesives LimitedQ1 FY27 Results & Financial Update
HP Adhesives Limited: Q1 FY27 consolidated results and company financials – revenue ₹63.42 Cr, PAT ₹-0.91 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore HP Adhesives 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
HP Adhesives Limited reported consolidated revenue from operations of INR 63.42 crore for the first quarter ended June 30, 2026, reflecting the core output of its adhesives and sealants product lines.
Total consolidated income reached INR 64.48 crore, inclusive of INR 1.06 crore in other income items.
The company recorded a consolidated loss before tax (PBT) of INR 1.35 crore and a net loss after tax (PAT) of INR 0.91 crore for the quarter.
Basic and diluted earnings per share for the quarter stood at a negative INR 0.10, based on an equity share capital of INR 18.37 crore divided into equity shares of INR 2 each.
Financial performance continued to absorb operational setbacks stemming from a fire incident at the company's Unit I manufacturing facility in Khopoli, Maharashtra, which disrupted production and necessitated additional asset write-offs.
During the quarter, the group recognized an additional loss of INR 0.90 crore under exceptional items comprising property, plant, and equipment write-offs and debris removal expenses, matched by a corresponding insurance claim receivable.
Subsidiary operations through Unitybond Solutions Private Limited contributed INR 0.34 crore in total revenue and a net loss after tax of INR 0.07 crore to the consolidated numbers for the quarter.
01 · Business model
What does HP Adhesives do?
HP Adhesives Limited manufactures a diverse portfolio of adhesives and sealants, catering primarily to plumbing, sanitary, decorative, and industrial applications.
The company's product lines include solvent cement, synthetic rubber adhesives, silicone sealants, PVC pipe lubricants, and various specialized sealing compounds distributed through an established network across domestic markets.
Operations span manufacturing units designed to handle chemical blending, packaging, and proprietary formulation development for consumer and institutional channels.
The group structure includes its wholly owned subsidiary Unitybond Solutions Private Limited, incorporating ancillary production and commercial capabilities.
02 · Historical context
What shaped the business before this quarter
Previously, during the financial year ended March 31, 2022, the company completed its initial public offering, raising net IPO proceeds of INR 96.69 crore which stood fully utilized by March 31, 2026.
On January 17, 2026, a major fire incident occurred at Plant-Unit-I located at Narangi Village, Khalapur, Khopoli, District Raigad, damaging property, plant, equipment, and inventories.
In earlier periods ending March 31, 2026, the company initially recognized an estimated loss of INR 24.98 crore under exceptional items for the fire incident alongside insurance claim receivables.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹63.42 Cr |
| Total income | ₹64.48 Cr |
| Profit before tax | ₹-1.35 Cr |
| Profit after tax | ₹-0.91 Cr |
| EPS | ₹-0.10 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -1.4% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -2.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹1.06 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations stood at INR 63.42 crore for Q1 FY27, underpinned by primary demand for adhesive and sealant formulations.
The wholly owned subsidiary Unitybond Solutions Private Limited added INR 0.34 crore to the group's total quarterly revenue before intra-group eliminations.
What drove margins
Cost of materials consumed was reported at INR 36.23 crore, while purchases of stock-in-trade stood at INR 1.54 crore for the quarter.
Employee benefit expenses amounted to INR 0.98 crore for the quarter.
Finance costs were recorded at INR 0.81 crore, and depreciation and amortization expenses stood at INR 1.27 crore.
Other expenses accounted for INR 11.86 crore, reflecting ongoing operating overheads and administrative costs.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The group operates primarily in a single reportable business segment, namely Adhesives & Sealants Products, under Ind AS 108.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The board approved the re-appointment of Ms. Nidhi Motwani as Executive Director for a second term of three consecutive years effective February 10, 2027, overseeing operations, new projects, and the expansion of new product categories such as SR/SH and silicone sealants.
07 · Reported developments
What changed operationally
The company holds insurance coverage for the reinstatement value of damaged assets and business interruption losses related to the Khopoli plant fire, with ongoing assessments to recover incurred losses.
08 · Pressure points & risks
What is not going smoothly
The fire incident at Unit I in Khopoli continued to impact operations, resulting in an additional recognized loss of INR 0.90 crore during the quarter for property write-offs and debris removal.
09 · Items worth noticing
The line items that can distort a quick read
Additional exceptional loss of INR 0.90 crore recognized during the quarter, comprising PPE write-offs of INR 0.63 crore and debris removal expenses of INR 0.26 crore, with a corresponding increase in insurance claim receivables.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Unutilized amounts lying in the Monitoring Agency Account as of June 30, 2026, and bank fixed deposits held through the same represent surplus funds following the full utilization of net IPO proceeds.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Financial Footprint
Wholly owned subsidiary Unitybond Solutions Private Limited reported total assets of INR 2.83 crore as of June 30, 2026, and a net loss after tax of INR 0.07 crore for the quarter.
12 · Previous-quarter changes
What changed since the previous quarter
PBT moved from a loss of INR 5.24 crore in Q4 FY26 to a loss of INR 1.35 crore in Q1 FY27.
13 · Key Q&A
The quarter, answered directly
What does HP Adhesives do?
HP Adhesives Limited manufactures a diverse portfolio of adhesives and sealants, catering primarily to plumbing, sanitary, decorative, and industrial applications.
What is the clearest takeaway from Q1 FY27?
HP Adhesives Limited reported consolidated revenue from operations of INR 63.42 crore for the first quarter ended June 30, 2026, reflecting the core output of its adhesives and sealants product lines.
What drove revenue or demand?
Consolidated revenue from operations stood at INR 63.42 crore for Q1 FY27, underpinned by primary demand for adhesive and sealant formulations.
What mattered most for margins or profitability?
Cost of materials consumed was reported at INR 36.23 crore, while purchases of stock-in-trade stood at INR 1.54 crore for the quarter.
What changed operationally beyond the headline numbers?
The board approved the re-appointment of Ms. Nidhi Motwani as Executive Director for a second term of three consecutive years effective February 10, 2027, overseeing operations, new projects, and the expansion of new product categories such as SR/SH and silicone sealants.
What are the main pressure points disclosed for the quarter?
The fire incident at Unit I in Khopoli continued to impact operations, resulting in an additional recognized loss of INR 0.90 crore during the quarter for property write-offs and debris removal.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Insurance Claim Settlement: Monitor the final assessment and financial settlement of insurance claims relating to the Unit I fire incident at Khopoli.
- 02
Manufacturing Restoration: Track operational normalization and output recovery at Plant-Unit-I following restoration and debris clearance.
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Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.