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Hindprakash Industries Limited (HPIL)

📊 NSE: HPIL 🏢 Dyes And Pigments 📅 Last Updated: 12/13/2025 23:02

📢 Recent Corporate Announcements

Hindprakash Industries Convenes 18th AGM on September 28, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 07:12 PM

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).

💡 Shareholders should note voting timelines for remote e-voting and review resolutions in the FY26 Annual Report ahead of the September 28, 2026 AGM.

Hindprakash Industries Notifies Newspaper Publication of Q1 FY27 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Aug 2026, 05:01 PM

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

💡 Review the full Q1 FY27 financial statement on the NSE/BSE websites to monitor operating margins, which have historically been thin at approximately 3.9%.

HPIL Q1 PAT Rises to ₹0.86 Cr YoY; Core Revenue Declines 12% to ₹26.57 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 01:45 PM

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.

💡 Investors should monitor the source of 'Other Income' to determine if it is recurring and track the operationalization of the new adhesives division, which is critical for the company's target to reach ₹250 Cr revenue.

HPIL Q1 PAT Rises to ₹0.86 Cr YoY Supported by Other Income; Core Revenue Declines 12%

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 12 Aug 2026, 01:38 PM

Hindprakash Industries reported a mixed Q1 FY27 performance with revenue from operations declining 11.9% YoY to ₹26.57 Cr. Despite the revenue drop, Net Profit surged to ₹0.86 Cr from ₹0.10 Cr in the year-ago period, largely aided by a significant spike in 'Other Income' which reached ₹4.56 Cr. Operating performance remains pressured as the cost of materials consumed rose 46.6% YoY to ₹15.86 Cr. Sequentially, performance weakened with PAT falling 58.5% from ₹2.07 Cr in Q4 FY26.

Net Profit increased to ₹0.86 Cr in Q1 FY27 compared to ₹0.10 Cr in Q1 FY26
Revenue from operations fell 11.9% YoY to ₹26.57 Cr from ₹30.15 Cr
Other Income spiked to ₹4.56 Cr, accounting for 14.6% of total income for the quarter
Cost of materials consumed increased to ₹15.86 Cr from ₹10.82 Cr in the previous year's quarter
Earnings Per Share (EPS) stood at ₹0.75 for the quarter, up from ₹0.09 YoY but down from ₹1.82 QoQ

💡 Investors should monitor the sustainability of 'Other Income' and track the operationalization of the new adhesives manufacturing division, which is critical for reaching the company's ₹250 Cr revenue target.

Hindprakash Industries Reports 100% Demat Holding for Quarter Ended June 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 11 Jul 2026, 01:47 PM

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

💡 No action is required as this is a routine administrative filing. Investors should monitor the company's upcoming quarterly financial results for operational updates.

Resignation of Company Secretary & Compliance Officer Effective June 30, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 30 Jun 2026, 03:21 PM

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

💡 Monitor the announcement of a successor to ensure there is no vacuum in the company's regulatory compliance and reporting functions.

June 30, 2026: Resignation of Company Secretary & Compliance Officer Utsav Trivedi

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 30 Jun 2026, 03:21 PM

Hindprakash Industries Limited has announced the resignation of Mr. Utsav Trivedi from the post of Company Secretary and Compliance Officer, effective June 30, 2026. The resignation is attributed to personal reasons, and he consequently ceases to be a Key Managerial Personnel (KMP). The company, which reported a TTM revenue of Rs 100 Cr and a thin PAT of Rs 2 Cr, is currently in the process of identifying a replacement within the prescribed statutory timelines.

Resignation of Mr. Utsav Trivedi effective from June 30, 2026
The outgoing KMP holds 0 shares in the company
Board meeting conducted for 1 hour between 02:00 P.M. and 03:00 P.M.

💡 Monitor the appointment of a new Compliance Officer to ensure continued adherence to SEBI listing regulations and timely corporate filings.

Hindprakash Industries to Close Trading Window from July 1, 2026, for Q1 FY27 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Jun 2026, 11:32 AM

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.

💡 No immediate action is required as this is a routine regulatory compliance filing. Investors should monitor for the upcoming announcement of the Q1 FY27 result date.

Hindprakash Industries Reports Zero Deviation in Utilization of Rs 6.15 Crore Raised via Warrants

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 28 May 2026, 04:45 PM

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.

💡 Investors should view this as a routine compliance confirmation that the company is adhering to its stated financial objectives. No immediate action is required, though the successful deployment of capital into working capital and debt reduction is a positive sign for operational stability.

HPIL FY26 Net Profit Surges 67% to ₹2.75 Cr; Annual Revenue Up 13% YoY

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 28 May 2026, 04:36 PM

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.

💡 Investors should view the significant bottom-line growth and EPS improvement as a positive sign of operational efficiency. The stock may see positive momentum following the strong annual profit growth despite the quarterly revenue volatility.

Hindprakash Industries FY26 Net Profit Jumps 67% to ₹2.75 Cr; Q4 PAT Surges YoY

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 28 May 2026, 04:23 PM

Hindprakash Industries reported a strong performance for the full year 2025-26, with net profit rising 67% to ₹274.64 lakhs compared to ₹164.43 lakhs in the previous year. While Q4 revenue of ₹3,080.13 lakhs showed a year-on-year decline from ₹3,857.95 lakhs, the company managed a significant improvement in profitability, with Q4 PAT surging to ₹207.47 lakhs from just ₹15.26 lakhs in the same quarter last year. Annual revenue grew by 13% to ₹11,505.93 lakhs. The board also approved the appointment of M/s. A.G Tulsian & Co. as the Cost Auditor for FY 2026-27.

Annual Net Profit increased by 67% YoY to ₹274.64 lakhs in FY26.
Full-year Revenue from Operations grew 13% to ₹11,505.93 lakhs.
Q4 FY26 PAT saw a massive jump to ₹207.47 lakhs compared to ₹15.26 lakhs in Q4 FY25.
Earnings Per Share (EPS) improved to ₹2.40 for FY26 from ₹1.44 in FY25.
Total Comprehensive Income for the year stood at ₹274.55 lakhs.

💡 Investors should note the significant margin improvement and profit growth despite a dip in quarterly revenue. The stock remains a watch for sustained operational efficiency in the coming quarters.

HPIL Shareholders Approve Sale of Entire Company Undertaking with 99.8% Majority

🔵 WATCH ⭐ 9/10

M&A 📅 21 Apr 2026, 07:33 PM

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

💡 Investors should await details on the sale valuation and the company's plan for the sale proceeds, whether for a new business line or distribution to shareholders.

HPIL Shareholders Approve Sale or Transfer of Entire Company Undertaking

🔵 WATCH ⭐ 9/10

M&A 📅 21 Apr 2026, 07:32 PM

Hindprakash Industries Limited (HPIL) shareholders have passed a special resolution via postal ballot to sell, transfer, or dispose of the company's entire undertaking. The resolution received overwhelming support, with 99.80% of the total 84.88 lakh votes cast in favor. Promoters showed strong backing with 100% of their polled votes supporting the move, while public participation saw 97.75% approval. This significant corporate action indicates a major strategic shift or potential exit from current business operations.

Special resolution passed to sell, transfer, or dispose of the whole of the company's unit/undertaking.
Total of 84,88,663 votes were polled, representing 74.30% of the total outstanding shares.
The resolution was approved with a 99.80% majority, with only 0.20% of votes cast against.
Promoter group cast 77,39,845 votes, with 100% in favor of the disposal.
Public non-institutional shareholders cast 7,48,818 votes, with 97.75% supporting the resolution.

💡 Investors should await further disclosures regarding the specific buyer, the valuation of the sale, and the company's future roadmap for the proceeds. The stock may see significant volatility as the company transitions from its current operational state.

Hindprakash Industries Promoters Declare Zero Encumbered Shares for FY 2025-26

🟢 POSITIVE ⭐ 4/10

REGULATORY 📅 08 Apr 2026, 05:57 PM

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

💡 Investors should take note of the zero-pledge status as a sign of promoter confidence and financial health. No immediate action is required as this is a routine annual compliance filing.

Hindprakash Industries Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Mar 2026, 10:52 AM

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.

💡 No action is required as this is a routine regulatory filing. Investors should monitor for the upcoming board meeting date to review the company's annual financial performance.

View All HPIL Announcements on Live Market Tracking →

💰 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.