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HNDFDS - Hindustan Foods

📊 NSE: HNDFDS 🏢 Diversified - Large 📅 Last Updated: 12/13/2025 23:03

📢 Recent Corporate Announcements

Hindustan Foods to Hold Virtual Meeting with Kotak PCG Group on March 20, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Mar 2026, 03:27 PM

Hindustan Foods Limited has scheduled a virtual group meeting with Kotak PCG on March 20, 2026, starting at 11:00 am. The company officials will interact with analysts and institutional investors to discuss business updates. The discussion will be based on the already available February 2026 Earnings Presentation. The company has clarified that no unpublished price sensitive information (UPSI) will be shared during this interaction.

Virtual group meeting scheduled with Kotak PCG for March 20, 2026, at 11:00 am.
Interaction will utilize the February 2026 Earnings Presentation already in the public domain.
The meeting is conducted under Regulation 30 of SEBI (LODR) Regulations, 2015.
Company confirms that no unpublished price sensitive information (UPSI) is intended to be discussed.

💡 Investors should review the February 2026 Earnings Presentation to understand the company's current trajectory. No immediate action is required as this is a routine investor engagement.

Hindustan Foods to Attend Investec Conference on March 9, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Mar 2026, 06:52 PM

Hindustan Foods Limited (HNDFDS) has announced its participation in the Investec Conference scheduled for March 9, 2026, in Mumbai. The event will involve physical group meetings with various institutional investors and analysts starting from 09:00 AM. The company has highlighted that its 'Earnings Presentation February 26' is already available on the stock exchanges for public review. This routine disclosure is part of the company's ongoing investor relations engagement to discuss business performance and outlook.

Physical group meeting scheduled with analysts and investors on March 9, 2026.
Participation confirmed for the Investec Conference held in Mumbai.
Company refers to the 'Earnings Presentation February 26' for the latest financial data.
Disclosure submitted under Regulation 30 of SEBI (LODR) Regulations, 2015.

💡 Investors should review the February 2026 Earnings Presentation for the latest operational updates and monitor for any post-conference analyst reports for insights into management's outlook.

NCLT Approves Hindustan Foods' Scheme of Arrangement and Nashik Business Demerger

🟢 POSITIVE ⭐ 9/10

M&A 📅 26 Feb 2026, 12:15 PM

The NCLT Mumbai has sanctioned the Scheme of Arrangement involving the demerger of the Nashik-based contract manufacturing business from Avalon Cosmetics into Hindustan Foods. Additionally, Vanity Case India, which holds a 40.55% stake in the company, will be amalgamated into Hindustan Foods to simplify the promoter holding structure. The demerger includes approximately 16 acres of land in Nashik, where an ice cream manufacturing facility is already being planned. This move aims to consolidate FMCG operations and improve operational efficiencies through pooled resources.

Demerger swap ratio set at 19 equity shares of HFL (FV ₹2) for every 100 shares held in Avalon Cosmetics (FV ₹10)
Amalgamation of Vanity Case India (VCIPL) involves issuing 4,64,58,145 shares to its shareholders, mirroring its current 40.55% stake
Acquisition of a 16-acre manufacturing site in Nashik with over 1 lakh sq. ft. of built-up area for expansion
The scheme enables HFL to diversify into ice cream manufacturing at the newly acquired Nashik premises
Simplifies promoter structure by eliminating layers, with Kothari and Dempo groups to hold HFL shares directly

💡 Investors should view this as a positive consolidation move that adds tangible assets and simplifies the corporate structure. Monitor the effective date of the scheme and the progress of the new ice cream manufacturing facility as key growth drivers.

Hindustan Foods Q3 PAT Rises 26% to ₹36 Cr; Guides FY27 PAT at ₹200-220 Cr

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 17 Feb 2026, 11:53 AM

Hindustan Foods reported its highest-ever quarterly EBITDA of ₹93 crores in Q3 FY26, with PAT growing 26% YoY to ₹36 crores despite a one-time labor code provision. The company successfully executed a massive ₹750 crore capex program in FY26, representing 60% of its opening gross block, to diversify into beverages, ice creams, and home care. Management issued a strong growth guidance for FY27, targeting a PAT of ₹200-220 crores as these new capacities ramp up. Financial discipline remains intact with an adjusted ROCE of 19% and a comfortable net debt-to-equity ratio of 0.77x.

Achieved highest-ever quarterly EBITDA of ₹93 crores and PAT of ₹36 crores in Q3 FY26.
Completed cumulative capex of over ₹750 crores in FY26, adding 5 lakh square feet of manufacturing space.
Provided FY27 PAT guidance of ₹200-220 crores, representing approximately 1.4x growth over FY26 estimates.
Board approved a new ₹50 crore greenfield Home & Personal Care (HPC) project in Lucknow.
Maintained healthy financial metrics with adjusted ROCE at 19% and net debt-to-equity at 0.77x.

💡 Investors should consider the stock favorably as the company transitions from a heavy investment phase to a high-growth phase with clear FY27 earnings visibility. Monitor the ramp-up of the new beverage and ice cream capacities starting Q4 FY26 for immediate performance cues.

Hindustan Foods Releases Q3 & 9M FY26 Earnings Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 11 Feb 2026, 03:58 PM

Hindustan Foods Limited has informed the exchanges that the audio recording of its analyst and investor conference call held on February 11, 2026, is now available. The call focused on the company's financial performance for the third quarter and the nine-month period ending December 31, 2025. Senior management participated in an interactive Q&A session to discuss business operations and future outlook. This filing is a standard regulatory requirement under SEBI LODR Regulations to ensure transparency for all stakeholders.

Analyst and investor conference call conducted on February 11, 2026
Discussion covered financial performance for Q3 and Nine Months ended December 31, 2025
Audio recording uploaded to the company's official website under the investor presentation section
Compliance filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

💡 Investors should access the recording to gain insights into management's commentary on the contract manufacturing landscape and specific volume growth trends for the quarter.

Hindustan Foods Q3 PAT Rises 26% to ₹36 Cr; Projects FY27 PAT of ₹200-220 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 05:59 PM

Hindustan Foods reported its highest-ever quarterly performance with Q3FY26 revenue reaching ₹1,000 crore, a 13% YoY increase. Net profit grew 26% YoY to ₹36 crore despite a one-time ₹3.5 crore provision for labor code changes. The company is in a peak investment phase, having deployed over ₹750 crore in capex during FY26, with most capacity expected to commission by March 2026. Management has provided strong forward guidance, targeting a PAT of ₹200-220 crore for FY27, driven by operating leverage and new capacity utilization.

Highest-ever quarterly EBITDA of ₹93 crore and PAT of ₹36 crore recorded in Q3FY26.
9MFY26 PAT grew 30.6% YoY to ₹103.1 crore on revenue of ₹3,041 crore.
Aggressive capex of ₹750+ crore in FY26 represents 64% of the opening gross block.
Management guidance projects FY27 PAT at ₹200-220 crore, nearly doubling from FY25 levels.
Maintained balance sheet discipline with Net Debt-to-Equity at 0.77x and adjusted ROCE at 19.1%.

💡 The company is successfully transitioning from a high-capex phase to a utilization-led growth phase, making it a strong play on the Indian FMCG outsourcing theme. Investors should monitor the timely commissioning of the Panipat and Baddi facilities in H1FY27 to validate the FY27 guidance.

HNDFDS Q3FY26 PAT Rises 26% to ₹36 Cr; Highest Ever Quarterly Performance

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 05:56 PM

Hindustan Foods reported its highest-ever quarterly performance in Q3FY26, with revenue reaching ₹1,000 crore, a 13% YoY increase. Net profit (PAT) grew by 26% to ₹36 crore, despite a one-time ₹3.5 crore charge related to the new labour code. The company is in a peak investment phase, having undertaken ₹750 crore in capex for FY26, with most assets expected to be commissioned by March 2026. Management maintained its FY27 PAT guidance of ₹200–220 crore, supported by a healthy adjusted ROCE of 19%.

Q3FY26 Total Income crossed the ₹1,000 crore mark, growing 13% YoY.
EBITDA for the quarter rose 18% to ₹93 crore, reflecting improved operating leverage.
Cumulative FY26 capex of ₹750 crore is nearing completion, with a new ₹50 crore HPC project signed for FY27.
Adjusted ROCE remains healthy at 19% after normalizing for ₹400 crore in underutilized or uncommissioned assets.
Reaffirmed FY27 PAT guidance of ₹200–220 crore, providing strong growth visibility for long-term investors.

💡 Investors should view the consistent execution and capacity expansion positively as the company transitions from an investment phase to a utilization ramp-up phase. Monitor the commissioning of the ₹750 crore capex and its impact on margins in the upcoming quarters.

Hindustan Foods Q3 FY26 PAT Rises 25.8% YoY to ₹36.12 Cr; Revenue Up 13.5%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 10 Feb 2026, 05:29 PM

Hindustan Foods reported a steady performance for the quarter ended December 31, 2025, with consolidated revenue from operations growing 13.5% year-on-year to ₹998.24 crores. Despite an exceptional item of ₹3.50 crores, the net profit for the quarter increased by 25.8% to ₹36.12 crores compared to ₹28.70 crores in the same period last year. For the nine-month period, the company crossed the ₹3,000 crore revenue milestone, reaching ₹3,031.51 crores. The company continues to maintain its focus on the contract manufacturing segment, which remains its primary business driver.

Consolidated Revenue from Operations grew 13.5% YoY to ₹998.24 crores in Q3 FY26.
Net Profit (PAT) increased by 25.8% YoY to ₹36.12 crores, up from ₹28.70 crores.
Nine-month (9M FY26) Revenue reached ₹3,031.51 crores, a 15.2% increase over 9M FY25.
Basic and Diluted EPS improved to ₹3.02 for the quarter compared to ₹2.44 in the previous year's corresponding quarter.
The company reported an exceptional item of ₹3.50 crores during the current quarter.

💡 Investors should view the consistent double-digit growth in revenue and profit as a sign of strong execution in the contract manufacturing space. The stock remains a solid play on the FMCG outsourcing theme, though monitoring the impact of exceptional items is advised.

Hindustan Foods to Host Q3 & 9MFY26 Earnings Conference Call on February 11, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 04 Feb 2026, 05:47 PM

Hindustan Foods Limited has scheduled an analyst and institutional investor conference call to discuss its financial performance for the third quarter and nine months ended December 31, 2025. The call is slated for Wednesday, February 11, 2026, at 11:30 AM IST. Senior management, including the Managing Director and Group CFO, will be present to address queries regarding the un-audited financial results. This is a standard regulatory procedure following the conclusion of the fiscal quarter.

Conference call scheduled for February 11, 2026, at 11:30 AM IST to discuss Q3 & 9MFY26 results.
Management participants include MD Sameer Kothari, ED Ganesh Argekar, and Group CFO Mayank Samdani.
Primary dial-in numbers for the call are +91 22 6280 1309 and +91 22 7115 8210.
The call will cover the un-audited financial performance for the period ending December 31, 2025.

💡 Investors should attend the call or review the transcript to understand management's outlook on the FMCG contract manufacturing sector and margin sustainability. Key areas to watch include updates on new client additions and the progress of ongoing capital expenditure projects.

Hindustan Foods Statutory Auditor M S K A & Associates Converts to LLP Structure

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 16 Jan 2026, 06:16 PM

Hindustan Foods Limited has announced that its statutory auditor, M S K A & Associates, has converted from a partnership firm to a Limited Liability Partnership (LLP) effective January 13, 2026. The firm will now operate under the name M S K A & Associates LLP with the ICAI registration number 105047W/W101187. The company has clarified that this structural change will not affect the current audit engagement or the auditor's tenure. This update is a standard regulatory disclosure and does not impact the company's business fundamentals.

Statutory Auditor M S K A & Associates converted to M S K A & Associates LLP effective Jan 13, 2026
The ICAI Firm Registration Number is updated to 105047W/W101187
No change in the existing audit engagement or responsibilities for the remaining tenure
Disclosure made pursuant to Regulation 30 of SEBI Listing Regulations

💡 This is a routine administrative update regarding the auditor's legal status. Investors do not need to take any action as it has no impact on financial performance or corporate governance.

Hindustan Foods Submits SEBI Compliance Certificate for Q3 FY2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 12 Jan 2026, 05:41 PM

Hindustan Foods Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the period ending December 31, 2025. The company's Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirmed that all dematerialization requests were processed and certificates were mutilated/cancelled within prescribed timelines. The filing ensures that the register of members has been updated with the depositories as the registered owners. No requests for rematerialization were reported during this quarter.

Compliance certificate filed for the quarter ended December 31, 2025
RTA MUFG Intime India Private Limited confirmed all demat requests were handled within timelines
Security certificates were duly mutilated and cancelled after verification
Reported zero requests for rematerialization during the three-month period

💡 This is a routine administrative filing with no impact on company fundamentals; investors do not need to take any action.

Hindustan Foods Announces Trading Window Closure from Jan 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Dec 2025, 02:57 PM

Hindustan Foods Limited has informed the stock exchanges that its trading window for dealing in securities will be closed starting January 1, 2026. This action is taken in compliance with SEBI Insider Trading regulations ahead of the declaration of the company's un-audited financial results for the quarter ended December 31, 2025. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced separately in due course.

Trading window closure begins on Thursday, January 1, 2026.
Applies to un-audited consolidated and standalone financial results for the quarter ended December 31, 2025.
Restriction remains in place until 48 hours after the results are declared.
Company will utilize the NSDL portal to freeze PANs of designated persons at the security level.
The board meeting date for result approval is yet to be communicated.

💡 This is a routine regulatory filing with no direct impact on stock fundamentals. Investors should watch for the upcoming board meeting date to prepare for the Q3 earnings performance.

Hindustan Foods Receives GST Demand Order of Rs 62.73 Lakh for FY 2021-22

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 24 Dec 2025, 01:23 PM

Hindustan Foods Limited has received a demand order from the Commercial Taxes Department, Tamil Nadu, pertaining to the financial year 2021-22. The total demand amounts to Rs 62.73 lakh, which includes a tax component of Rs 35.53 lakh, interest of Rs 23.45 lakh, and a penalty of Rs 3.75 lakh. The order is based on allegations of excess Input Tax Credit (ITC) claimed by the company. Management has clarified that this order has no material impact on the company's financials or operations and they intend to contest the demand.

Total demand of Rs 62,72,595 raised under Section 73 of the CGST/SGST Act, 2017.
The demand consists of Rs 35,52,835 in tax, Rs 23,44,902 in interest, and Rs 3,74,858 in penalties.
The order relates to alleged excess Input Tax Credit (ITC) claimed during FY 2021-22.
The company received the order from the Office of the Commercial Tax Officer, Tindivanam, Tamil Nadu.
Hindustan Foods stated there is no material impact and they are in the process of contesting the order.

💡 Investors need not worry as the demand amount is immaterial compared to the company's scale of operations. No immediate action is required, but one should monitor for any recurring tax compliance issues.

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💰 Financial Performance

Revenue Growth by Segment

Shared manufacturing now contributes 27% to total sales. The shoe business reached its highest ever turnover in Q2 FY26. Overall revenue grew 18% YoY in Q2 FY26 to INR 1,042.7 Cr and 16% YoY in H1 FY26 to INR 2,040.8 Cr.

Geographic Revenue Split

Not specifically disclosed by percentage, though the company operates manufacturing units in North and South India which have recently stabilized and ramped up production.

Profitability Margins

Gross Profit margin for H1 FY26 stood at 16.5% (INR 336.8 Cr). Profit After Tax (PAT) margin for Q2 FY26 was 3.37%, with PAT surging 54% YoY to INR 35.2 Cr. H1 FY26 PAT grew 33% YoY to INR 67.0 Cr.

EBITDA Margin

EBITDA margin for Q2 FY26 was 8.62% (INR 89.9 Cr), representing a 24% YoY increase. H1 FY26 EBITDA rose 17% YoY to INR 173.3 Cr.

Capital Expenditure

The company has a planned capital expenditure of INR 550 Cr, supported by a strong financial position and internal accruals. The gross block for the shoe business specifically stands at INR 140 Cr.

Credit Rating & Borrowing

Net debt to equity ratio is maintained at a comfortable level of 0.67 as of September 30, 2025. Finance costs for H1 FY26 were INR 40.6 Cr, remaining flat YoY.

⚙️ Operational Drivers

Raw Materials

Not specifically named; however, Cost of Goods Sold (COGS) represents 78.3% of total revenue (INR 1,597.8 Cr in H1 FY26).

Capacity Expansion

The company is ramping up capacity across business verticals, with North and South units now stabilized. The shoe business is undergoing integration to maintain momentum after hitting record turnover.

Raw Material Costs

Raw material costs (COGS) accounted for 78.3% of revenue in H1 FY26, increasing from INR 1,376.6 Cr in H1 FY25 to INR 1,597.8 Cr.

Manufacturing Efficiency

Profit expansion in Q2 FY26 was driven by better capacity utilization and operating leverage. Shared manufacturing now accounts for 27% of EBITDA.

📈 Strategic Growth

Expected Growth Rate

22%

Growth Strategy

Growth is driven by a 'String of Pearls' M&A strategy (10+ acquisitions in 4 years), a shift from dedicated to shared manufacturing models to capture higher margins, and scaling newer categories like footwear. The company also leverages the growth of quick commerce to expand its contract manufacturing footprint.

Products & Services

Diversified FMCG contract manufacturing services, including everyday consumer necessities and footwear (shoes).

Brand Portfolio

The company is a contract manufacturer for marquee FMCG customers; it was founded by the Vanity Case Group.

New Products/Services

Expansion into the shoe business and scaling of newer FMCG categories; the shoe business is expected to be PAT positive in FY26 with return ratios above the company average.

Market Expansion

Focus on unlocking the full potential of each business vertical through strategic roadmaps and pursuing high-growth M&A opportunities.

Strategic Alliances

Maintains relationships with marquee FMCG customers and utilizes SGA as an Investor Relations advisor to improve disclosures.

🌍 External Factors

Industry Trends

The FMCG industry is seeing a shift toward quick commerce; HFL is positioning itself as an expert partner for brands looking to scale rapidly in this segment. The contract manufacturing industry is evolving from dedicated facilities to shared, multi-client hubs.

Competitive Landscape

HFL is a leading diversified FMCG contract manufacturer in India, competing for marquee client contracts through operational excellence and cost discipline.

Competitive Moat

Moat is built on a diversified contract manufacturing portfolio, scale (first quarter exceeding INR 1,000 Cr revenue), and the ability to integrate multiple acquisitions ('String of Pearls' strategy) while maintaining a robust balance sheet.

Macro Economic Sensitivity

Steady demand for everyday consumer necessities provides a natural hedge against market fluctuations and inflation.

Consumer Behavior

Increasing consumer demand for everyday necessities and the emergence of quick commerce are driving higher volumes for HFL's clients.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to client-specific compliance standards and general manufacturing regulations; failure to meet these is identified as a 'Contract Risk'.

Taxation Policy Impact

The effective tax rate for H1 FY26 was approximately 25.1% (INR 22.5 Cr tax on INR 89.4 Cr PBT).

⚠️ Risk Analysis

Key Uncertainties

Operating leverage risk in shared manufacturing could impact profitability by 10-15% if capacity utilization targets are not met. Liquidity risk is rated as 'Low' due to forward-looking cash flow management.