HP Adhesives Posts FY26 Results: PAT at ₹697.70 Lakh; ₹0.40 Final Dividend Recommended

HP Adhesives held its Board of Directors meeting on May 12, 2026, approving the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026, under Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also recommended a final dividend of ₹0.40 per fully paid-up equity share of ₹2 each for FY2025-26, subject to shareholder approval at the ensuing Annual General Meeting. The dividend, if approved, will be paid to shareholders within 30 days of declaration. The statutory auditors, M/s Priya Choudhary & Associates LLP (FRN: 011506C/C400307), issued an unmodified audit opinion on the financial results.

Consolidated Financial Performance

HP Adhesives reported a consolidated revenue from operations of ₹24,927.52 lakh for the year ended March 31, 2026, compared to ₹24,979.33 lakh in the previous year. Total income stood at ₹25,287.24 lakh versus ₹25,436.95 lakh. The company posted a consolidated profit after tax (PAT) of ₹697.70 lakh for the full year, a significant decline from ₹1,824.36 lakh in the prior year. For the quarter ended March 31, 2026, the company reported a consolidated net loss of ₹237.27 lakh, compared to a profit of ₹358.97 lakh in the same quarter of the previous year. The following table summarises the key consolidated financial metrics:

Metric: Q4 FY26 (Audited) Q3 FY26 (Unaudited) Q4 FY25 (Audited) FY26 (Audited) FY25 (Audited) Revenue from Operations (₹ lakh): 5,782.07 6,196.94 6,616.22 24,927.52 24,979.33 Total Income (₹ lakh): 5,855.09 6,289.89 6,769.28 25,287.24 25,436.95 Total Expenses (₹ lakh): 6,378.70 6,017.20 6,290.36 24,468.56 23,064.11 PBT before Exceptional Items (₹ lakh): (523.61) 272.68 478.92 818.68 2,372.84 PAT (₹ lakh): (237.27) 162.22 358.97 697.70 1,824.36 Basic EPS (₹): (0.26) 0.18 0.39 0.76 1.99 Diluted EPS (₹): (0.26) 0.18 0.39 0.76 1.99

Standalone Financial Performance

On a standalone basis, HP Adhesives reported revenue from operations of ₹24,866.85 lakh for FY26, compared to ₹24,819.63 lakh in the prior year. Total income was ₹25,210.46 lakh versus ₹25,267.86 lakh. Standalone PAT for the full year stood at ₹688.22 lakh, down from ₹1,784.03 lakh in the previous year. For Q4 FY26, the standalone net loss was ₹238.75 lakh against a profit of ₹411.81 lakh in Q4 FY25. Key standalone financial metrics are presented below:

Metric: Q4 FY26 (Audited) Q3 FY26 (Unaudited) Q4 FY25 (Audited) FY26 (Audited) FY25 (Audited) Revenue from Operations (₹ lakh): 5,770.26 6,138.81 6,543.75 24,866.85 24,819.63 Total Income (₹ lakh): 5,837.43 6,231.76 6,701.68 25,210.46 25,267.86 Total Expenses (₹ lakh): 6,362.79 5,972.44 6,174.97 24,404.12 22,949.36 PBT before Exceptional Items (₹ lakh): (525.35) 259.32 526.71 806.33 2,318.50 PAT (₹ lakh): (238.75) 149.89 411.81 688.22 1,784.03 Basic EPS (₹): (0.26) 0.16 0.45 0.75 1.94 Diluted EPS (₹): (0.26) 0.16 0.45 0.75 1.94

Balance Sheet Highlights

On a consolidated basis, total assets stood at ₹23,211.35 lakh as at March 31, 2026, compared to ₹22,807.52 lakh in the prior year. Total equity was ₹18,774.54 lakh, with equity share capital at ₹1,837.49 lakh and other equity at ₹16,937.04 lakh. Total current assets were ₹15,413.96 lakh, while total current liabilities stood at ₹4,308.56 lakh. On a standalone basis, total assets were ₹23,154.06 lakh, total equity was ₹18,724.73 lakh, and total current assets were ₹15,178.42 lakh.

Fire Incident and Exceptional Items

A significant development during the year was a fire incident on January 17, 2026, at the company's manufacturing Plant Unit-I located at Survey No. 7/18, Village Narangi, Taluka Khalapur, District Raigad, Maharashtra. The fire resulted in damage to property, plant and equipment, inventory, and interruption of operations. The company has insurance coverage for reinstatement value of damaged assets and loss of profit due to business interruption. Pending final assessment and settlement of insurance claims, the company has preliminarily recognised an estimated loss of INR 2,498.50 lakh under Exceptional Items, with a corresponding insurance claim receivable disclosed under Other Current Financial Assets. The final impact will depend on completion of the insurance assessment and settlement process. Additionally, exceptional items for the year included ₹32.34 lakh paid towards a GST audit demand (covering FY 2019-20 to 2023-24) and ₹6.58 lakh paid pursuant to a final order by the Hon'ble CESTAT, Mumbai. The company also recognised an incremental gratuity liability impact of ₹42.06 lakh arising from the Government of India's notification of four Labour Codes on November 21, 2025, as an exceptional item.

IPO Proceeds Utilisation and Trading Window

The company confirmed full utilisation of IPO proceeds of ₹9,669.12 lakh as at March 31, 2026, covering working capital requirements (₹5,400.00 lakh), capital expenditure (₹2,550.86 lakh), and general corporate purposes (₹1,718.26 lakh). A surplus balance of ₹0.18 lakh in the monitoring agency account and ₹463.85 lakh in fixed deposits remained as at March 31, 2026. The trading window for designated persons and their immediate relatives will reopen from Friday, May 15, 2026, following the 48-hour closure post results announcement. The results are available on the BSE and NSE websites. The meeting commenced at 3:30 p.m. and concluded at 7:00 p.m. on May 12, 2026, with the filing signed by Company Secretary Swati Talgaonkar.

HP Adhesives Limited has filed its annual disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, confirming that the promoter and promoter group, along with Persons Acting in Concert (PACs), have not created any encumbrance on the company's equity shares during the financial year ended March 31, 2026.

Promoter Shareholding Details

The promoters and promoter group collectively hold a substantial ownership stake in HP Adhesives Limited as of the latest reporting period:

Parameter: Details Total Equity Shares Held: 6,55,50,675 Percentage of Paid-up Capital: 71.35% Reporting Date: March 31, 2026 Encumbrance Status: None

Regulatory Disclosure

The disclosure was made in compliance with Regulation 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The declaration confirms that during the financial year ended March 31, 2026, no encumbrance — direct or indirect — has been created on the equity shares of HP Adhesives Limited held by the promoters, promoter group, and PACs.

The filing was submitted to both the National Stock Exchange of India Limited and BSE Limited, as well as to the company's Audit Committee.

Promoter Group Entities

The annual declaration was submitted on behalf of the following promoter group members:

Name of Entity/Person: Category: Karan Haresh Motwani: Promoter Anjana Haresh Motwani: Promoter Nidhi Haresh Motwani: Member of Promoter Group

Key Signatories

The annual disclosure was authorized and digitally signed by the following promoter group members on April 30, 2026:

Anjana Motwani — Chairperson (DIN: 02650184)

Karan Haresh Motwani — Managing Director (DIN: 02650089)

Nidhi Motwani — Executive Director (DIN: 06655834)

The filing was submitted by Company Secretary Swati Talgaonkar, digitally signed on April 30, 2026.

Company Information

HP Adhesives Limited, formerly known as HP Adhesives Private Limited, operates from its corporate office in Andheri East, Mumbai. The company is incorporated under CIN: L24304MH2019PLC325019 and maintains its registered office at Chakala, Andheri (East), Mumbai.

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