Hindprakash Industries Limited (HPIL)
₹114.46 -8.37% last close, 23 Oct
Snapshot
Hindprakash Industries Limited closed at ₹114.46 on 23 Oct 2026, 9.6% below its 200-day average, with an RSI(14) of 44.7 and a P/E of 37.31. On the daily chart it is in a weak downtrend, with a technical score of 34/100 (bearish). In the quarter ended June 2026, revenue fell 11.9% and net profit grew 780.3% from a year earlier. Data as of 23 Oct 2026.
Price
- Price
- ₹114.46
- Day change
- -8.37%
- Market Cap
- ₹131 Cr
- 52-week range
- ₹105.65 – ₹154.45
- From 52-week high
- -25.89%
Financials23 Oct 2026
- P/E
- 37.31
- P/B
- 2.42
- ROE
- 6.5%
- ROCE
- 8.0%
- Debt to Equity
- 0.61
- OPM
- -2.1%
- YoY qtr sales growth
- -11.9%
- YoY qtr profit growth
- 780.3%
- Dividend Yield
- 0.00%
Latest quarter Jun 2026 · Standalone
Technicals23 Oct 2026
- Trend
- Weak Downtrend
- Technical score
- 34/100 · Bearish
- MACD
- Bullish
- RSI (14)
- 44.66
- ADX (14)
- 16.11
- SuperTrend
- Bullish
- vs 20-day SMA
- -3.26%
- vs 50-day SMA
- -5.87%
- vs 200-day SMA
- -9.61%
- RS rating
- 51.00
- Nearest support
- ₹107.00
- Nearest resistance
- ₹130.01
Exchange activity23 Oct 2026
- Delivery
- 70.54% vs 71.4% average
- Volume vs its average
- 0.6×
- Price band
- 2 band closes in ~20 sessions
Events
- Latest results
- Q1 FY27, filed 12 Aug 2026
- Board meeting filing
- 12 Aug 2026
Exchange data. Each figure as its own page shows it; the dates are the data's. Information only, not investment advice.
📈 Share price & events
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Hindprakash Industries' revenue was ₹26.6 Cr (-11.9% year on year, -13.7% on the previous quarter), and net profit ₹0.9 Cr (+780.3% year on year); the operating margin was -10.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹26.6 | -11.9% | -13.7% |
| Operating profit | ₹-2.8 | to loss | loss widened |
| Net profit | ₹0.9 | +780.3% | -58.4% |
| Operating margin | -10.4% | — | — |
HPIL delivery percentage
NSE end-of-day data for
On Fri, 23 Oct 2026, 70.54% of the HPIL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 71.4%. That is close to its usual level. Turnover was only ₹5 lakh, so a handful of trades can move this figure. It closed at a price band (circuit) on 2 sessions in about the last 20.
Delivery in the last 5 sessions: 47.0% · 63.4% · 75.5% · 57.9% · 70.5%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Hindprakash Industries Limited has announced the voting results and Scrutinizer's Report for its 18th Annual General Meeting held on September 28, 2026. All 4 resolutions, including the adoption of FY26 financial statements and the reappointment of an Independent Director, were passed with essentially 100% approval. A total of 27,01,405 votes were cast out of 1,14,24,110 shares, representing a 23.65% voter turnout. The proceedings were conducted smoothly via video conferencing with no adverse outcomes.
- All 4 resolutions passed with ~100% of polled votes in favour (27,01,404 votes in favour vs 1 against)
- Total voter turnout recorded at 23.6465% with 27,01,405 votes polled on 1,14,24,110 total shares
- Promoter group polled 22,41,340 votes (26.21% of their holding), while public non-institutions polled 4,60,065 votes
- Special resolution approving the reappointment of Independent Director Mr. Rushabh Shah for a second 5-year term was passed
Hindprakash Industries Limited has appointed Ms. Meenal Jain as its new Company Secretary and Compliance Officer, effective September 17, 2026. Along with her appointment, the company updated its list of Key Managerial Personnel authorized to determine material events under Regulation 30(5) of SEBI LODR, which includes the MD, Wholetime Director, CFO, and CS. The board meeting approving these changes was conducted on September 17, 2026, lasting 30 minutes. This is a routine secretarial appointment and carries no direct financial impact on the company's TTM revenue of ₹100 crore.
- Appointment of Ms. Meenal Jain as CS and Compliance Officer effective September 17, 2026
- List of 4 Key Managerial Personnel authorized under Regulation 30(5) updated
- Board meeting concluded in 30 minutes, commencing at 04:00 PM and ending at 04:30 PM
- No family relationship reported between the newly appointed CS and existing directors
Hindprakash Industries Limited has issued the notice for its 18th Annual General Meeting (AGM) scheduled for September 28, 2026, via Video Conferencing. Key agenda items include the adoption of FY26 audited standalone financial statements, the re-appointment of Whole-time Director Santosh Narayan Nambiar, and the re-appointment of Independent Director Rushabh Shah for a second 5-year term starting January 2027. The notice also proposes ratifying cost auditor remuneration of Rs. 60,000 for FY27. Standalone disclosures within the annual report show FY26 Net Profit margin at 2.39% versus 1.61% in FY25.
- 18th AGM scheduled for September 28, 2026, at 2:30 PM IST via video conferencing.
- Proposed special resolution to re-appoint Rushabh Shah as Independent Director for a 5-year term starting January 20, 2027.
- Proposed remuneration of Rs. 60,000 plus taxes for Cost Auditor M/s. A.G. Tulsian & Co. for FY27.
- FY26 standalone ratios indicate Net Profit ratio improved to 2.39% (vs 1.61% in FY25) and ROE at 5.18% (vs 3.23% in FY25).
Hindprakash Industries Limited (HPIL) has informed the exchanges regarding the newspaper publication of its unaudited financial results for the quarter ended June 30, 2026. The results were published on August 13, 2026, in The Indian Express (English) and Financial Express (Gujarati). This is a standard regulatory filing following the board's approval of the quarterly performance on August 12, 2026. Investors should look for the detailed results on the exchange websites to evaluate the company's progress against its TTM revenue of Rs 100 Cr.
- Quarterly results pertain to the period ended June 30, 2026
- Newspaper advertisements published on August 13, 2026
- Board of Directors approved the results on August 12, 2026
- Company maintains a high promoter holding of 74.85% as of March 2026
Hindprakash Industries Limited (HPIL) reported a significant YoY increase in Net Profit to ₹0.86 Cr for Q1 FY27, compared to ₹0.10 Cr in Q1 FY26, though this was largely driven by non-operational factors. Revenue from operations declined 11.9% YoY to ₹26.57 Cr, and the company reported an operating loss as total expenses of ₹30.49 Cr exceeded core revenue. The bottom line was supported by a sharp spike in 'Other Income' to ₹4.56 Cr (up from ₹0.72 Cr YoY) and a deferred tax credit of ₹0.73 Cr. Despite the profit growth, the core dyes and pigments business remains under pressure with declining sequential and annual revenue.
- Net Profit grew to ₹0.86 Cr from ₹0.10 Cr in the same quarter last year.
- Revenue from Operations fell 11.9% YoY to ₹26.57 Cr from ₹30.15 Cr.
- Other Income surged to ₹4.56 Cr, accounting for 14.6% of the total income for the quarter.
- Total Expenses of ₹30.49 Cr were higher than the core revenue of ₹26.57 Cr.
- Earnings Per Share (EPS) stood at ₹0.75, up from ₹0.09 YoY but down from ₹1.82 in the previous quarter.
Hindprakash Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Transfer Agent, Bigshare Services Pvt Ltd, confirmed that no requests for dematerialization or rematerialization were received during the quarter from March 31, 2026, to June 30, 2026. This is primarily because the entire shareholding of the company is already maintained in electronic (demat) form. This is a standard procedural filing with no impact on the company's financial or operational status.
- 100% of the company's shares are already held in demat form as of June 30, 2026
- 0 requests for dematerialization were received during the quarter
- 0 requests for rematerialization were received during the quarter
- The reporting period covers the three months from March 31, 2026, to June 30, 2026
Mr. Utsav Trivedi has resigned from his role as Company Secretary and Compliance Officer of Hindprakash Industries Limited, effective June 30, 2026. Consequently, he ceases to be a Key Managerial Personnel (KMP) for the company. The company has stated it is in the process of identifying a successor within the prescribed statutory timelines. This transition occurs against a financial backdrop of Rs 100 Cr TTM revenue and a thin PAT margin of 2%.
- Resignation of Mr. Utsav Trivedi effective from the closure of business hours on June 30, 2026
- Outgoing officer held 0 shares in the company as per the disclosure
- Board meeting for approval was conducted between 02:00 P.M. and 03:00 P.M. on June 30, 2026
- Company is currently in the process of identifying a new Compliance Officer as per SEBI and Companies Act requirements
Hindprakash Industries Limited has announced the closure of its trading window for all designated persons starting July 01, 2026. This closure is in preparation for the declaration of the Unaudited Financial Results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially announced to the exchanges. The specific date for the Board Meeting to approve these results is yet to be finalized and will be communicated later.
- Trading window closure commences on July 01, 2026, for the quarter ending June 30, 2026.
- Closure applies to promoters, directors, designated persons, and their immediate relatives per SEBI regulations.
- The window will reopen 48 hours after the declaration of the Unaudited Financial Results.
- The date of the Board Meeting for result approval will be informed in due course.
Hindprakash Industries Limited (HPIL) has submitted its statement of deviation for the quarter ended March 31, 2026, confirming that funds raised through preferential issues were used exactly as intended. The company utilized Rs 615.00 lakhs, which represents the 75% balance consideration of a total Rs 820.00 lakh warrant issue. The proceeds were fully deployed towards augmenting net worth, meeting working capital requirements, and debt repayment. The Audit Committee has reviewed the statement and confirmed there are no deviations from the original objects of the issue.
- Confirmed zero deviation or variation in the utilization of funds for the quarter ended March 31, 2026.
- Total funds utilized in this reporting period amounted to Rs 615.00 lakhs, representing 75% of the total issue size.
- The funds were raised through the conversion of preferential equity warrants originally priced at Rs 82 per warrant.
- Proceeds were fully utilized by March 31, 2026, for debt repayment and working capital needs.
- The statement was reviewed and approved by the Audit Committee in its meeting on May 28, 2026.
Hindprakash Industries Limited (HPIL) reported a robust financial performance for the fiscal year ended March 31, 2026, with net profit rising 67% to ₹274.64 lakhs. Annual revenue from operations grew by 13% to reach ₹11,505.93 lakhs compared to the previous year. While Q4 revenue saw a year-on-year decline to ₹3,080.13 lakhs, the quarterly net profit jumped significantly to ₹207.47 lakhs from ₹43.46 lakhs in the same period last year. The company also confirmed the appointment of M/s. A.G Tulsian & Co. as Cost Auditors for FY 2026-27.
- Full-year Net Profit increased by 67% YoY to ₹274.64 lakhs in FY26.
- Annual Revenue from Operations grew 13% to ₹11,505.93 lakhs from ₹10,181.60 lakhs in FY25.
- Basic and Diluted EPS improved to ₹2.40 for FY26, up from ₹1.44 in the previous year.
- Q4 FY26 Net Profit stood at ₹207.47 lakhs, a nearly five-fold increase over Q4 FY25.
- Board approved the appointment of M/s. A.G Tulsian & Co. as Cost Auditor for the financial year 2026-27.
Hindprakash Industries Limited (HPIL) has received shareholder approval to sell, transfer, or dispose of its entire undertaking. The special resolution was passed with an overwhelming 99.80% of the votes cast in favor, indicating strong support from both promoters and public shareholders. A total of 84.88 lakh votes were polled, representing a 74.30% turnout of the total 1.14 crore shares. This decision marks a major strategic shift for the company, potentially leading to a complete divestment of its current operations.
- Special resolution passed to sell or dispose of the company's entire unit/undertaking
- Resolution received 99.80% approval (84,71,847 votes) from the total votes polled
- Total voter turnout stood at 74.30% of the 1,14,24,110 total shares
- Promoters voted 100% in favor of the resolution with 77.39 lakh votes
- Public non-institutional shareholders backed the move with 97.75% support
Sanjay Prakash Mangal, representing the promoter group of Hindprakash Industries Limited, has filed a disclosure under Regulation 31(4) of SEBI (SAST) Regulations. The promoter group collectively holds 85,50,955 equity shares as of March 31, 2026. The filing confirms that no shares were encumbered or pledged, directly or indirectly, during the entire financial year 2025-26. This transparency regarding the absence of share pledging is a positive indicator of the promoter group's financial stability.
- Promoter and Promoter Group hold a total of 85,50,955 equity shares as of March 31, 2026
- Declaration confirms zero encumbrances or pledges were made during the financial year 2025-26
- Major individual holdings include Sanjay Prakash Mangal with 22,32,590 shares and Vedantprakash S Mangal with 14,70,000 shares
- The disclosure covers 14 distinct entities and individuals within the promoter group
Hindprakash Industries Limited (HPIL) has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI's insider trading regulations. This closure is ahead of the upcoming declaration of the audited financial results for the quarter and year ending March 31, 2026. The restriction applies to promoters, directors, and designated persons, lasting until 48 hours after the results are made public. This is a standard regulatory procedure for all listed entities in India and does not impact general trading by public shareholders.
- Trading window closure effective from April 1, 2026.
- Closure pertains to the audited financial results for the quarter and year ending March 31, 2026.
- Restriction applies to Promoters, Directors, and Designated Persons of the company.
- Window will reopen 48 hours after the official declaration of financial results.
- The date for the Board Meeting to approve the results will be announced in due course.
Hindprakash Industries Limited (HPIL) has issued a postal ballot notice seeking shareholder approval to sell or dispose of its industrial undertaking in Bharuch, Gujarat. The asset involves 38,433.534 sq. mts. of non-agricultural land and buildings located at the Saykha Industrial Estate. The company intends to execute the sale at a consideration not lower than the valuation provided by a registered valuer. The e-voting period for this special resolution is scheduled from March 23 to April 21, 2026.
- Proposed disposal of 38,433.534 sq. mts. of land and building at Saykha Industrial Estate, GIDC.
- Special Resolution sought under Section 180(1)(a) of the Companies Act for sale of an undertaking.
- Sale consideration guaranteed to be at least the value determined by a registered valuer.
- Remote e-voting period set for March 23, 2026, through April 21, 2026.
Hindprakash Industries Limited (HPIL) has received board approval to sell its industrial unit located at Saykha Industrial Estate in Gujarat. The unit is a minor part of the company's operations, contributing only 0.64% (₹64.44 lakhs) to the total revenue in FY25. Notably, the unit had a negative net worth of ₹3.74 crore, making this disposal a strategic move to exit an underperforming asset. The proceeds will be utilized for debt repayment and working capital, which is expected to strengthen the company's liquidity and balance sheet.
- Board approved the sale of the Saykha Industrial Estate unit to a non-related third party.
- The unit contributed only ₹64.44 lakhs (0.64%) to the company's total revenue in FY25.
- The undertaking had a negative net worth of ₹3.74 crore as of March 31, 2025.
- Proceeds will be used for debt repayment, working capital, and general corporate purposes.
- The sale price will be determined based on a Registered Valuer's report and requires shareholder approval.
Company profilewritten 13 Dec 2025
Financial Performance
Revenue Growth by Segment
The company operates in a single primary business segment (Dyes, Intermediates, and Chemicals). Total revenue from operations grew by 2.32% YoY, reaching INR 101.82 Cr in FY25 compared to INR 99.50 Cr in FY24.
Geographic Revenue Split
Not specifically disclosed in available documents, though operations are concentrated in Gujarat with facilities in Vatva (Ahmedabad) and Saykha (Bharuch).
Profitability Margins
Profitability remains thin due to low value-addition processes like blending. PAT margin improved slightly to 1.62% in FY25 from 1.54% in FY24, despite a drop in operating margins, supported by higher non-operating income from interest on loans.
EBITDA Margin
PBILDT margin declined by 136 bps to 2.59% in FY25 from 3.94% in FY24. This 34% YoY contraction in operating profitability was driven by increased employee costs for the new adhesives division and muted sales realizations amid high competition.
Capital Expenditure
The company has invested in a new adhesives manufacturing division and maintains facilities at Vatva and Saykha. Specific INR Cr values for future planned CapEx are not disclosed, but recent cash flow shows payments for PPE and CWIP of INR 0.03 Cr in the half-year ended Sept 2025.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE BB+; Stable' for long-term and 'CARE A4+' for short-term facilities. Borrowing costs are impacted by increased reliance on working capital, with finance costs rising to INR 1.79 Cr in FY25 from INR 1.32 Cr in FY24, a 35.6% increase.
Operational Drivers
Raw Materials
Key raw materials include crude oil derivatives and chemical intermediates, which represent the bulk of the cost of materials consumed (INR 61.49 Cr in FY25, or 60.4% of revenue).
Import Sources
Not specifically disclosed, but the company is susceptible to global crude oil price volatility which dictates the pricing of chemical inputs.
Capacity Expansion
Current operations are stable at approximately INR 100 Cr scale. Expansion is focused on the new adhesives manufacturing division to diversify the product basket and improve value addition.
Raw Material Costs
Cost of materials consumed and stock-in-trade purchases totaled INR 86.02 Cr in FY25, representing 84.5% of total revenue. Profitability is highly sensitive to crude oil price fluctuations.
Manufacturing Efficiency
The business model focuses on low value-addition processes like blending and standardization, which inherently limits margin expansion regardless of utilization levels.
Logistics & Distribution
Not specifically disclosed as a standalone percentage of revenue.
Strategic Growth
Expected Growth Rate
145%
Growth Strategy
The company aims to scale Total Operating Income (TOI) beyond INR 250 Cr (a 145% increase from current levels) by operationalizing the adhesives manufacturing division and leveraging a newly hired retail marketing team to expand market reach beyond industrial dyes.
Products & Services
Dyes, chemical intermediates, textile auxiliaries, and adhesives (newly added).
Brand Portfolio
Hindprakash.
New Products/Services
Adhesives manufacturing division is the primary new launch, expected to contribute to volume-driven growth and better capacity utilization.
Market Expansion
Targeting the retail adhesive market to diversify from the competitive industrial chemical landscape.
Market Share & Ranking
Operates in a highly fragmented industry with many organized and unorganized players; specific ranking not disclosed.
External Factors
Industry Trends
The chemical industry is shifting toward stringent environmental regulations and sustainable practices. HPIL is positioned as a blender/trader, which requires less heavy-industrial compliance than primary manufacturers but remains subject to safety standards.
Competitive Landscape
Faces tough competition from both organized and unorganized players in the dyes and intermediates sector, leading to pricing pressure.
Competitive Moat
The primary moat is the 20+ years of experience of the Mangal family (3rd generation promoters) and an established track record in the Hindprakash group. However, this moat is narrow given the low-margin, competitive nature of the blending business.
Macro Economic Sensitivity
Growth is closely linked to overall economic growth and manufacturing sector performance in India.
Consumer Behavior
Shift toward bio-based materials and renewable chemicals is a noted industry trend that may affect future product demand.
Geopolitical Risks
Geopolitical factors affecting oil-producing regions pose a direct risk to input cost stability.
Regulatory & Governance
Industry Regulations
Compliance with GIDC (Gujarat Industrial Development Corporation) norms for facilities in Vatva and Saykha, and adherence to safety standards for chemical handling.
Environmental Compliance
Subject to complex environmental regulations and safety standards inherent to the chemical industry; specific ESG spend not disclosed.
Taxation Policy Impact
Effective tax rate is approximately 26.6% based on FY25 PBT of INR 2.24 Cr and Tax Expense of INR 0.60 Cr.
Legal Contingencies
The company has a Vigil Mechanism (Whistle Blower Policy) and Insider Trading regulations in place. Specific pending court case values are not disclosed in the provided text.
Risk Analysis
Key Uncertainties
Volatility in crude oil prices (high impact), intense pricing competition (medium impact), and the successful ramp-up of the adhesives division.
Geographic Concentration Risk
High concentration in Gujarat, with all registered offices and factories located in Ahmedabad and Bharuch districts.
Third Party Dependencies
High dependency on external suppliers for chemical intermediates and raw materials, as the company focuses on blending rather than basic manufacturing.
Technology Obsolescence Risk
Low risk for blending operations, but the shift toward sustainable 'green' chemicals requires ongoing product adaptation.
Credit & Counterparty Risk
Stretched liquidity with high collection periods (125-137 days) and negative cash flow from operations (INR -4.53 Cr in FY25) due to high year-end receivables.
