Huhtamaki India LimitedQuarter ended 30.09.2026 Results & Financial Update
Huhtamaki India Limited: Quarter ended 30.09.2026 standalone results and company financials – revenue ₹768.84 Cr, PAT ₹29.73 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 Huhtamaki India Quarter ended 30.09.2026 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
Huhtamaki India reported total revenue from operations of INR 768.84 crore for the quarter ended September 30, 2026, marking a 2.51% increase compared to INR 750.02 crore in the preceding quarter ended June 30, 2026.
Total income for the quarter stood at INR 774.77 crore, inclusive of other income of INR 5.93 crore, compared to INR 751.32 crore in the previous quarter.
Profit before tax (PBT) for the quarter came in at INR 39.43 crore, down 32.93% sequentially from INR 58.79 crore in Q1 FY27, weighed down by restructuring charges and exceptional items.
Profit after tax (PAT) for the quarter declined 32.01% sequentially to INR 29.73 crore from INR 43.73 crore in the preceding quarter, yielding a pat margin of 3.87% compared to 5.83% in Q1 FY27.
The company recorded an exceptional item of INR 9.60 crore during the quarter, comprising accelerated depreciation of INR 3.57 crore on unviable plant assets and INR 6.03 crore in employee settlement costs related to the consolidation of pressure-sensitive labels operations.
Basic and diluted earnings per share (EPS) after exceptional items for the quarter stood at INR 3.94, compared to INR 5.79 in the previous quarter.
Management noted that performance for the broader nine-month period continued to benefit from volume growth and material cost pass-throughs, though quarterly profitability faced headwinds from facility rationalization expenses.
01 · Business model
What does Huhtamaki India do?
Huhtamaki India Limited is a subsidiary of Finland-headquartered Huhtamäki Oyj, operating as a provider of primary flexible packaging solutions for food, beverages, and personal care brands.
The company serves consumer-facing industries with on-the-go and shelf-ready packaging formats designed to ensure product hygiene, safety, and shelf-life extension while preventing food waste.
Manufacturing operations are distributed across 10 facilities in India, supported by a workforce of approximately 2,400 employees engaged in flexible packaging production and converting.
The economic model relies on efficient converting capacity, raw material procurement economies, and structured pass-through mechanisms to manage input cost volatility across polymer and substrate inputs.
02 · Historical context
What shaped the business before this quarter
During the year ended December 31, 2023, the company stopped production at its Hyderabad manufacturing plant with no material impact on ongoing business operations.
Previously, the company relocated manufacturing capacities across its three Label sites to other existing label manufacturing facilities to streamline operations.
In the first quarter of 2026, the company identified and rectified an understatement of depreciation from FY 2024 and FY 2025 where certain assets were calculated on a written-down value basis instead of the stated straight-line method policy, resulting in an additional one-off charge of INR 8.80 crore in Q1 2026.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Quarter ended 30.09.2026 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹768.84 Cr | ₹750.02 Cr |
| Total income | ₹774.77 Cr | ₹751.32 Cr |
| Profit before tax | ₹39.43 Cr | ₹58.79 Cr |
| Profit after tax | ₹29.73 Cr | ₹43.73 Cr |
| EPS | ₹3.94 | ₹5.79 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 3.9% 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 5.1% 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 ₹5.93 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
Operating revenue rose 2.51% sequentially to INR 768.84 crore, driven by underlying volume growth across flexible packaging product categories.
Management commentary in the accompanying press release highlighted that top-line performance was supported by the successful pass-through of material cost increases to customers.
What drove margins
Cost of materials consumed was INR 548.77 crore for the quarter, accompanied by an inventory change adjustment of negative INR 20.10 crore.
Operating margins contracted sequentially as profit before tax fell 32.93% due to exceptional restructuring charges and employee separation expenses.
Employee benefit expenses stood at INR 68.45 crore for the quarter, compared to INR 69.69 crore in the preceding quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The Consumer Packaging segment generated total revenue of INR 768.84 crore and segment results before exceptional items of INR 45.64 crore, which reduced to INR 36.04 crore after accounting for the INR 9.60 crore exceptional restructuring charge.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company is consolidating its pressure-sensitive (PS) labels operations at two manufacturing facilities and closing one manufacturing facility to enhance operational efficiency through economies of scale and improved capacity utilization.
Projects, capex and execution
The company subscribed to a 28% equity share capital stake equivalent to INR 2.76 crore in AMPIN Energy C&I Twenty-Five Private Limited on February 10, 2026, to comply with Electricity Act requirements for captive solar power generation and consumption.
07 · Reported developments
What changed operationally
For the nine-month period ended September 2026, net sales reached INR 2,070.36 crore with EBIT before exceptional items amounting to INR 152.80 crore, reflecting a 22% increase over the corresponding period of the previous year on a comparable basis.
08 · Pressure points & risks
What is not going smoothly
The company incurred a charge of INR 9.60 crore during the quarter, consisting of INR 3.57 crore in accelerated depreciation for non-transferable plant assets and INR 6.03 crore in employee settlement costs for the closing label facility.
09 · Items worth noticing
The line items that can distort a quick read
The company recorded an exceptional charge of INR 9.60 crore (INR 96.0 million) during the quarter, comprising INR 3.57 crore of accelerated depreciation on unviable plant assets and INR 6.03 crore of employee separation costs linked to the consolidation of pressure-sensitive labels operations.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Finance costs for the quarter were reported at INR 3.07 crore, compared to INR 3.37 crore in the previous quarter.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor review
B S R & Co. LLP issued an unmodified review report on the unaudited standalone financial results for the quarter ended September 30, 2026.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations improved from INR 750.02 crore in Q1 FY27 to INR 768.84 crore in Q2 FY27.
Profit after tax declined from INR 43.73 crore in Q1 FY27 to INR 29.73 crore in Q2 FY27, impacted by exceptional restructuring costs.
13 · Key Q&A
The quarter, answered directly
What does Huhtamaki India do?
Huhtamaki India Limited is a subsidiary of Finland-headquartered Huhtamäki Oyj, operating as a provider of primary flexible packaging solutions for food, beverages, and personal care brands.
What is the clearest takeaway from Quarter ended 30.09.2026?
Huhtamaki India reported total revenue from operations of INR 768.84 crore for the quarter ended September 30, 2026, marking a 2.51% increase compared to INR 750.02 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Operating revenue rose 2.51% sequentially to INR 768.84 crore, driven by underlying volume growth across flexible packaging product categories.
What mattered most for margins or profitability?
Cost of materials consumed was INR 548.77 crore for the quarter, accompanied by an inventory change adjustment of negative INR 20.10 crore.
What changed operationally beyond the headline numbers?
The company is consolidating its pressure-sensitive (PS) labels operations at two manufacturing facilities and closing one manufacturing facility to enhance operational efficiency through economies of scale and improved capacity utilization.
What are the main pressure points disclosed for the quarter?
The company incurred a charge of INR 9.60 crore during the quarter, consisting of INR 3.57 crore in accelerated depreciation for non-transferable plant assets and INR 6.03 crore in employee settlement costs for the closing label facility.
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
PS labels consolidation execution: Monitor the operational progress and completion of the pressure-sensitive labels facility closure and subsequent realization of scale efficiencies.
- 02
Captive solar power integration: Track the operational commissioning of captive solar power supplies through the AMPIN Energy SPV investment to observe potential power cost impacts.
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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.