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 01-04-2026
Date of end of financial year 31-03-2027
Date of board meeting when results were approved 05-11-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 01-11-2026
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 05-11-2026   15:30:00
End date and time of board meeting 05-11-2026   19:25:00
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 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 7,592.83 13,934.48
Other income 35.88 142.30
Total income 7,628.71 14,076.78
2 Expenses
(a) Cost of materials consumed 5,494.60 9,117.77
(b) Purchases of stock-in-trade 1,025.35 2,564.92
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (1,284.88) (2,235.39)
(d) Employee benefit expense 983.46 1,960.42
(e) Finance costs 124.81 205.33
(f) Depreciation, depletion and amortisation expense 129.50 256.88
(f) Other Expenses
1 Other Expenses 1,081.64 2,268.03
Total other expenses 1,081.64 2,268.03
Total expenses 7,554.48 14,137.96
3 Total profit before exceptional items and tax 74.23 (61.18)
4 Exceptional items 0.00 0.00
5 Total profit before tax 74.23 (61.18)
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 45.74 0.89
9 Total tax expenses 45.74 0.89
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 28.49 (62.07)
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 28.49 (62.07)
17 Other comprehensive income net of taxes 26.20 30.29
18 Total Comprehensive Income for the period 54.69 (31.78)
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 28.49 (62.07)
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 26.20 30.29
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 0.03 -0.07
Diluted earnings (loss) per share from continuing operations 0.03 -0.07
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 0.03 -0.07
Diluted earnings (loss) per share from continuing and discontinued operations 0.03 -0.07
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, 2026 1. The above consolidated financial results of the Group have been reviewed by the Audit Committee and then approved by the Board of Directors at their respective meetings held on November 5, 2026. Management has exercised necessary due diligence to ensure that the financial results for these periods provide a true and fair view of the Group'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 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. 4. The Group had raised net IPO proceeds of Rs. 9,669.12 Lakhs during the year ended March 31, 2022, which stood fully utilised as on March 31, 2026. There is no unspent IPO proceeds. Amount lying in the Monitoring Agency Account as on September 30, 2026 and bank FD through the same represents surplus funds. 5. On January 17, 2026, a fire incident occurred at Unit I of the Group located at Survey No. 7, Hissa 14, Village Narangi, Taluka Khalapur, District Raigad, damaging certain property, plant and equipment, and inventory, and disrupting operations. The Group holds insurance coverage for reinstatement value of damaged assets and business interruption losses. The Group had earlier recognised an estimated loss of INR 2,498.50 lakhs under Exceptional Items for the quarter ended March 31, 2026, with a corresponding insurance claim receivable under Other Current Financial Assets, pending final assessment and settlement of the insurance claim. During the quarter ended June 30, 2026, the Group has further recognised an additional loss of INR 89.84 lakhs under Exceptional Items, comprising write-off of PPE of INR 63.45 lakhs and debris removal and related expenses of INR 26.38 lakhs, with a corresponding increase in the insurance claim receivable. The final impact, if any, will depend on completion of the claim assessment and settlement. 6. Previous periods/quarter figures have been regrouped/reclassified wherever necessary. The impact of such reclassification/ regrouping is not material to the financial statements. 7. The Statement includes the results for the quarter ended Sept 30, 2026 & Sept 30, 2025 which is the balancing figure between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the second quarter of the relevant financial year. 8. The results for the quarter and half year ended Sept 30, 2026 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 01-04-2026
Date of end of reporting period 30-09-2026
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 7,806.91
Capital work-in-progress 701.54
Investment property 0.00
Goodwill 0.00
Other intangible assets 10.90
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
1 Other non-current financial assets 306.46
Total of other non-current financial assets 306.46
Total non-current financial assets 306.46
Deferred tax assets (net) 57.01
Other non-current assets
1 Right of Use Assets 68.52
Total of other non-current assets 68.52
Total non-current assets 8,951.34
2 Current assets
Inventories 6,903.75
Current financial asset
Current investments 1,564.92
Trade receivables, current 4,131.34
Cash and cash equivalents 61.00
Bank balance other than cash and cash equivalents 148.71
Loans, current 101.56
Other current financial assets
Total of other current financial assets 2,877.94
Total current financial assets 8,885.47
Current tax assets (net) 222.67
Other current assets
1 Other Current Assets 799.13
Total of other current assets 799.13
Total current assets 16,811.02
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 25,762.36
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1,837.49
Other equity 16,537.76
Total equity attributable to owners of parent 18,375.25
Non controlling interest 0.00
Total equity 18,375.25
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
1 Lease Liabilities 37.00
Total of other non-current financial liabilities 37.00
Total non-current financial liabilities 37.00
Provisions, non-current 68.81
Deferred tax liabilities (net) 0.00
Deferred government grants, Non-current 0.00
Other non-current liabilities
Total of other non-current liabilities
Total non-current liabilities 105.81
Current liabilities
Current financial liabilities
Borrowings, current 2,558.06
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 981.43
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2,620.56
Total Trade payable 3,601.99
Other current financial liabilities
1 Lease Liabilities 37.69
2 Other Financial Liabilities 644.56
Total of other current financial liabilities 682.25
Total current financial liabilities 6,842.30
Other current liabilities 261.66
1 Other Current Liabilities 261.66
Total of other current liabilities 261.66
Provisions, current 177.33
Current tax liabilities (Net) 0.01
Deferred government grants, Current 0.00
Total current liabilities 7,281.30
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 7,387.11
Total equity and liabilites 25,762.36
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 01-07-2026 01-04-2026
Date of end of reporting period 30-09-2026 30-09-2026
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 01-07-2026 01-04-2026
B Date of end of reporting period 30-09-2026 30-09-2026
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 35.00 40.47
Total Amount of items that will not be reclassified to profit and loss 35.00 40.47
2 Income tax relating to items that will not be reclassified to profit or loss 8.80 10.18
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 26.20 30.29



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2026
B Date of end of reporting period 30-09-2026
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 (61.18)
Adjustments for reconcile profit (loss)
Adjustments for finance costs 101.31
Adjustments for decrease (increase) in inventories (1,853.51)
Adjustments for decrease (increase) in trade receivables, current (448.59)
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 (264.38)
Adjustments for other financial assets, current (196.58)
Adjustments for other bank balances 0.00
Adjustments for increase (decrease) in trade payables, current 856.10
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 73.65
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 256.88
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current (125.45)
Adjustments for provisions, non-current 40.26
Adjustments for other financial liabilities, current (42.43)
Adjustments for other financial liabilities, non-current 0.00
Adjustments for unrealised foreign exchange losses gains (29.03)
Adjustments for dividend income 0.00
Adjustments for interest income 86.23
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) 2.39
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 60.01
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) (1,655.60)
Net cash flows from (used in) operations (1,716.78)
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) (39.23)
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities (1,677.55)
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 1,113.88
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 91.55
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 931.31
Net cash flows from (used in) investing activities (91.02)
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 (2,232.52)
Payments of lease liabilities 26.82
Dividends paid 367.50
Interest paid 97.60
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) financing activities 1,740.60
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (27.97)
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 (27.97)
Cash and cash equivalents cash flow statement at beginning of period 88.97
Cash and cash equivalents cash flow statement at end of period 61.00