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 12-02-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 06-02-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third 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 and Sealants
Start date and time of board meeting 12-02-2026   15:30:00
End date and time of board meeting 12-02-2026   19:00:00
Whether cash flow statement is applicable on company
Type of cash flow statement
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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 6,536.71 19,653.23
Other income 92.95 286.70
Total income 6,629.66 19,939.93
2 Expenses
(a) Cost of materials consumed 2,985.73 9,564.75
(b) Purchases of stock-in-trade 1,069.36 2,629.69
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (90.88) (97.18)
(d) Employee benefit expense 1,013.88 2,952.41
(e) Finance costs 64.45 191.91
(f) Depreciation, depletion and amortisation expense 150.55 437.09
(f) Other Expenses
1 Other Expenses 1,163.89 2,918.98
Total other expenses 1,163.89 2,918.98
Total expenses 6,356.98 18,597.65
3 Total profit before exceptional items and tax 272.68 1,342.28
4 Exceptional items (48.64) (80.98)
5 Total profit before tax 224.04 1,261.30
6 Tax expense
7 Current tax 91.13 335.97
8 Deferred tax (29.31) (9.64)
9 Total tax expenses 61.82 326.33
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 162.22 934.97
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 162.22 934.97
17 Other comprehensive income net of taxes 1.02 15.48
18 Total Comprehensive Income for the period 163.24 950.45
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 162.22 937.97
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 1.02 15.48
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 0.18 1.02
Diluted earnings (loss) per share from continuing operations 0.18 1.02
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 0.18 1.02
Diluted earnings (loss) per share from continuing and discontinued operations 0.18 1.02
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 nine months ended 31.12.25 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 February 12, 2026. 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 December 31, 2025, December 31, 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 31.12.25 Unutilised as on 31.12.25 (*) Funding working capital requirements of the Company 5,400.00 5,400.00 - Funding Capital expenditure (CAPEX) 2,550.86 2,536.97 13.89 General corporate Purposes (As revised upon finalisation of IPO Expenses) 1,718.26 1,718.26 - Total 9,669.12 9,655.23 13.89 6. (a) During the period, Holding Company's 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 along with 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. (b) Pursuant to Final Order passed by of Hon’ble CESTAT, Mumbai against the Holding Company's appeal payment of demand including interest and penalty of Rs. 6.58 Lakhs made during the quarter has been reported under Exceptional item for the period. (c) On 21 November, 2025, the Government of India notified the four 'Labour Codes- the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020- consolidating 29 existing labour laws. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Group has assessed gratuity liability and has disclosed the incremental impact of these changes of Rs. 42.06 Lakh on the basis of best information available, consistent with the guidance provided by the ICAI. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group has presented such incremental impact under Exceptional items in the Statement of Profit and loss for the quarter and nine months ended 31 December, 2025, said incremental impact primarily arises due to change in wage definition. Group continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect based on such developments as needed. 7. Subsequent to the reporting date, on 17/01/2026, a fire incident occurred at the Holding Company’s manufacturing facility (one of the building blocks) located at Unit 1, Survey no. 7, Narangi Village, Khalapur, Khopoli, District Raigad (Maharashtra), resulting in damage to property, plant and equipment, as well as inventory while there were no casualties or injuries reported due to the incident. The fire incident has temporarily disrupted the operations of the Company’s main product category of Solvent Cement at the affected Unit. The Company has started its stand by production facilities at its adjoining building & other mitigation measures, including alternate production arrangements and phased resumption of operations, to minimise the impact on production schedules and customer supplies. The inventories and other assets damaged in the fire were covered under valid insurance policies. The Company has initiated the process of lodging the insurance claim. The assessment of the loss and the admissibility of the insurance claim are subject to surveyor’s assessment, policy terms and conditions and regulatory compliances. As the fire incident occurred after Dec 2025, being the reporting date for the current quarter, the same has been treated as a non-adjusting event in accordance with Indian Accounting Standard (Ind AS) 10 – Events after the Reporting Period. Accordingly, no adjustment has been made to the PPE & Inventory balances or the financial results for the quarter and nine months ended 31 December 2025. The financial impact of the said incident, including any insurance recoveries, will be recognized in the period in which the incident occurred, based on assessment and admissibility of the claim. The management has assessed the impact of the above incident on the Company’s operations, liquidity and cash flows and is of the view that the same does not cast any significant doubt on the Company’s ability to continue as a going concern 8. 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. 9. The Statement includes the results for the quarter ended Dec 31, 2025 & Dec 31, 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 third quarter of the relevant financial year. 10. The results for the quarter and nine months ended December 31, 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


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 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
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 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
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 1.36 20.68
Total Amount of items that will not be reclassified to profit and loss 1.36 20.68
2 Income tax relating to items that will not be reclassified to profit or loss 0.34 5.20
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 0.00 0.00
5 Total Other comprehensive income 1.02 15.48