Integrated Filing — IndAS



General information about company

Scrip Code 543433
NSE Symbol HPAL
MSEI Symbol NOTLISTED
ISIN INE0GSL01024
Name of company HP ADHESIVES LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 12-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 06-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Manufacturing of Adhesives & Sealants
Start date and time of board meeting 12-11-2025   14:00:00
End date and time of board meeting 12-11-2025   16:15:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 6,506.03 13,116.52
Other income 84.00 193.75
Total income 6,590.03 13,310.27
2 Expenses
(a) Cost of materials consumed 3,701.77 6,579.02
(b) Purchases of stock-in-trade 653.65 1,560.33
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (456.93) (6.30)
(d) Employee benefit expense 989.54 1,938.53
(e) Finance costs 62.96 127.45
(f) Depreciation, depletion and amortisation expense 145.48 286.54
(f) Other Expenses
1 Other Expenses 981.15 1,755.10
Total other expenses 981.15 1,755.10
Total expenses 6,077.62 12,240.67
3 Total profit before exceptional items and tax 512.41 1,069.60
4 Exceptional items (32.34) (32.34)
5 Total profit before tax 480.07 1,037.26
6 Tax expense
7 Current tax 116.41 244.84
8 Deferred tax 10.29 19.67
9 Total tax expenses 126.70 264.51
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 353.37 772.75
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 353.37 772.75
17 Other comprehensive income net of taxes 17.71 14.46
18 Total Comprehensive Income for the period 371.08 787.21
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 353.37 772.75
Total profit or loss, attributable to non-controlling interests 0.00 0.00
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent 17.71 14.46
Total comprehensive income for the period attributable to owners of parent non-controlling interests 0.00 0.00
21 Details of equity share capital
Paid-up equity share capital 1,837.49 1,837.49
Face value of equity share capital 2 2
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.38 0.84
Diluted earnings (loss) per share from continuing operations 0.38 0.84
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.38 0.84
Diluted earnings (loss) per share from continuing and discontinued operations 0.38 0.84
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) Notes to the Consolidated financial results for the quarter and half year ended September 30, 2025 1) The above consolidated financial results of the Company have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on November 12, 2025. Management has exercised necessary due diligence to ensure that the financial results for these periods provide a true and fair view of the Company's affairs. 2) This statement has been prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules thereafter and other recognised accounting practices and policies to the extent applicable. 3) The Company vide Board Meeting dt. 7th February, 2024 has incorporated wholly owned subsidiary with effect from April 11, 2024 through Investment in 100% shares (along with nominee holder) in M/s Unitybond Solutions Private Limited on May 4, 2024. Pursuant to the same, Company has prepared its consolidated financial results for the quarter ended September 30, 2025, September 30, 2024 and year ended March 31, 2025. 4) The Group operates primarily in adhesives & sealants segment, hence there is only one reportable business segment viz. “Adhesives & Sealants Products”. Accordingly no separate disclosures have been made for segment reporting under Ind AS 108. 5) During the year ended March 31, 2022, the holding company has completed the Initial Public Offering (IPO) and details of utilization of IPO Proceeds of Rs. 9669.12 Lakhs (adjusted with final share of holding company's share issue expenses) till the end of relevant quarter are as follows: Objects of the Issue (INR Lakhs) IPO Proceeds (Net of IPO Expenses) Utilisation upto 30.09.25 Unutilised as on 30.09.25 (*) Funding working capital requirements of the Company 5,400.00 5,400.00 - Funding Capital expenditure (CAPEX) 2,550.86 2,472.83 78.03 General corporate Purposes (As revised upon finalisation of IPO Expenses) 1,718.26 1,718.26 - Total 9,669.12 9,591.09 78.03 (*) Balance of IPO proceeds as at September 30, 2025 are kept in fixed deposits with scheduled commercial banks. 6) During the period, GST Audit was conducted by GST (Audit-II) Wing-Mumbai for the period FY 2019-20 to 2023-24 and passed the final assessment order rasing demand including reversals of input credits for Rs. 311.01 lakhs dated 11.08.2025 out of which company has sou-moto accepted and deposited demand of Rs. ~15 Lakhs and paid it alongwith Interest and Penalty totalling to Rs. 32.34 Lakhs and protested for the balance demand with applleate authorities. The demand paid of Rs. 32.34 Lakhs has been reported under exceptional item for the period. 7) Previous periods/quarter figures have been regrouped/reclassified wherever necessary. The impact of such reclassification/ regrouping is not material to the group's financial statements. 8) The Statement includes the results for the quarter ended Sept 30, 2025 & Sept 30, 2024 which is the balancing figure between the audited figures in respect of the full financial year ended March 31, 2025 and the published unaudited year-to-date figures up to the second quarter of the relevant financial year. 9) The results for the quarter and half year ended September 30, 2025 are available on the Bombay Stock Exchange of India Limited website (URL: https://www.bseindia.com/corporates) and the National Stock Exchange of India Limited website (URL: https://www.nseindia.com/corporates).



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 7,035.58
Capital work-in-progress 534.62
Investment property 0.00
Goodwill 0.00
Other intangible assets 122.24
Intangible assets under development 0.00
Biological assets other than bearer plants 0.00
Investments accounted for using equity method 0.00
Non-current financial assets
Non-current investments 0.00
Trade receivables, non-current 0.00
Loans, non-current 0.00
Other non-current financial assets 392.53
Total non-current financial assets 392.53
Deferred tax assets (net) 0.00
Other non-current assets 36.79
Total non-current assets 8,121.76
2 Current assets
Inventories 5,731.53
Current financial asset
Current investments 3,502.50
Trade receivables, current 4,159.40
Cash and cash equivalents 244.18
Bank balance other than cash and cash equivalents 366.46
Loans, current 119.36
Other current financial assets 0.00
Total current financial assets 8,391.90
Current tax assets (net) 123.92
Other current assets 835.30
Total current assets 15,082.65
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 23,204.41
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,837.49
Other equity 17,010.18
Total equity attributable to owners of parent 18,847.67
Non controlling interest 0.00
Total equity 18,847.67
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0.00
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0.00
Total Trade payable 0.00
Other non-current financial liabilities 0.00
Total non-current financial liabilities 0.00
Provisions, non-current 91.57
Deferred tax liabilities (net) 116.49
Deferred government grants, Non-current 0.00
Other non-current liabilities 30.79
Total non-current liabilities 238.85
Current liabilities
Current financial liabilities
Borrowings, current 84.42
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 608.79
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2,033.23
Total Trade payable 2,642.02
Other current financial liabilities 714.51
Total current financial liabilities 3,440.95
Other current liabilities 550.87
Provisions, current 122.53
Current tax liabilities (Net) 3.54
Deferred government grants, Current 0.00
Total current liabilities 4,117.89
3 Liabilities directly associated with assets in disposal group classified as held for sale 0.00
4 Regulatory deferral account credit balances and related deferred tax liability 0.00
Total liabilities 4,356.74
Total equity and liabilites 23,204.41
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Re-measurement gains / (losses) on defined benefit plans 2256000 1932000
Total Amount of items that will not be reclassified to profit and loss 22.56 19.32
2 Income tax relating to items that will not be reclassified to profit or loss 4.85 4.86
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income 17.71 14.46



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 1,037.26
Adjustments for reconcile profit (loss)
Adjustments for finance costs 127.45
Adjustments for decrease (increase) in inventories (82.04)
Adjustments for decrease (increase) in trade receivables, current (7.17)
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets 0.00
Adjustments for decrease (increase) in other non-current assets 0.00
Adjustments for other financial assets, non-current 0.00
Adjustments for other financial assets, current (82.99)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 357.73
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 7.77
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 286.54
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 36.97
Adjustments for provisions, current (174.17)
Adjustments for provisions, non-current 30.97
Adjustments for other financial liabilities, current (37.65)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (30.60)
Adjustments for dividend income 0.00
Adjustments for interest income 118.12
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 7.86
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items (3.86)
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 318.69
Net cash flows from (used in) operations 1,355.95
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 258.91
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,097.04
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 0.00
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 256.99
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 0.00
Purchase of other long-term assets 0.00
Cash advances and loans made to other parties 0.00
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 102.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (326.80)
Net cash flows from (used in) investing activities (481.79)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 484.36
Payments of lease liabilities 80.59
Dividends paid 0.00
Interest paid 119.85
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities (684.80)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (69.55)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (69.55)
Cash and cash equivalents cash flow statement at beginning of period 313.73
Cash and cash equivalents cash flow statement at end of period 244.18