Hindustan Adhesives Ltd (HINDADH) – Share Price & Analysis

Price ₹297.85, Market Cap 166.53 (Cr), P/E 9.17x. Score: 55.6/100.

Financial Ratios PE Ratio Shareholding Dividend Quarterly Results Financial Statements

Hindustan Adhesives Ltd Stock Price Today (NSE: HINDADH)

Hindustan Adhesives Ltd

HINDADHPlastic Products - Industrial

₹297.85₹5.80 (1.91%)

As on 17 Jun 2026, 01:12 pm ISTMarket Open

Fundamental Score

...

Hindustan Adhesives Ltd Share Price — Live NSE/BSE Price, Fundamentals & Analysis

Hindustan Adhesives Ltd share price today is ₹297.85, down 1.91% on NSE/BSE as of 17 June 2026. Hindustan Adhesives Ltd (HINDADH) is a Small-cap company in the Plastic Products - Industrial sector with a market capitalisation of ₹166.53 (Cr). The 52-week high for HINDADH share price is ₹368.75 and the 52-week low is ₹247.60. At a P/E ratio of 9.17x, HINDADH is currently trading below its industry average P/E of 23.37x. The company has a Return on Equity (ROE) of 17.99% and a debt-to-equity ratio of 0.82.

Hindustan Adhesives Ltd Share Price Chart — NSE/BSE Historical Performance

No data

High

₹325.50

Low

₹297.85

Volume

773.9545454545455

Change

+0.69%

Hindustan Adhesives Ltd — Last 10 Trading Days

Date	Open	High	Low	Close	Volume
2 Jun 26	₹312.75	₹312.75	₹305.65	₹309.00	542.00 (Cr)
1 Jun 26	₹321.45	₹321.45	₹305.00	₹314.90	170.00 (Cr)
29 May 26	₹306.15	₹312.00	₹306.10	₹312.00	240.00 (Cr)
27 May 26	₹310.95	₹315.20	₹301.00	₹315.15	3.03K (Cr)
26 May 26	₹314.00	₹314.00	₹308.10	₹309.90	325.00 (Cr)
25 May 26	₹319.50	₹319.50	₹304.55	₹315.00	155.00 (Cr)
22 May 26	₹312.00	₹316.95	₹310.00	₹311.20	116.00 (Cr)
21 May 26	₹314.95	₹314.95	₹304.55	₹308.60	300.00 (Cr)
20 May 26	₹309.05	₹316.00	₹309.05	₹309.25	507.00 (Cr)
19 May 26	₹307.25	₹312.05	₹303.15	₹305.05	852.00 (Cr)

Hindustan Adhesives Ltd — Last 12 Months Price History

Month	Open	High	Low	Close	Change
Jun 2026	₹321.45	₹321.45	₹305.00	₹309.00	-3.87%
May 2026	₹316.10	₹325.50	₹300.05	₹312.00	-1.30%
Apr 2026	₹297.00	₹323.75	₹278.30	₹316.20	+6.46%
Mar 2026	₹280.30	₹308.70	₹247.60	₹279.45	-0.30%
Feb 2026	₹304.00	₹318.00	₹280.00	₹298.90	-1.68%
Jan 2026	₹323.95	₹328.00	₹285.60	₹291.85	-9.91%
Dec 2025	₹331.60	₹337.00	₹294.00	₹321.90	-2.93%
Nov 2025	₹311.30	₹347.00	₹286.90	₹331.60	+6.52%
Oct 2025	₹333.00	₹333.00	₹296.00	₹311.30	-6.52%
Sept 2025	₹316.05	₹359.00	₹311.10	₹333.40	+5.49%
Aug 2025	₹316.00	₹328.90	₹302.60	₹316.75	+0.24%
Jul 2025	₹347.90	₹357.95	₹310.00	₹321.00	-7.73%

AI Research Briefing

Micro-cap adhesive tape maker facing margin pressure and profitability decline; avoid until clear signs of turnaround.

Research Confidence

5.0/10Moderate

MICRO-CAP DARK HORSEBreakdown: 1M: 4.48%, 3M: 0.42%, 6M: -5.3%Cheap based on P/E (9.17x) compared to industry P/E (23.37x), but earnings are declining.

WHAT'S HAPPENING NOW (last 2-4 weeks)

Hindustan Adhesives' stock has shown volatility, hitting a fresh 52-week low of on March 30, 2026, before recovering to around Q3 FY26 (Oct-Dec 2025) net profit was Cr, a 21.02% sequential decline from Q2 FY26 and a marginal 1.74% YoY contraction. Q4 results ending March 2026 showed a 12.10% decline in total income to Cr and a 28.13% drop in profit after tax to Cr.

CORE STORY (THE REAL GAME)

Hindustan Adhesives is a play on the growth of the Indian packaging industry, specifically through its self-adhesive tape products. The market is pricing in continued growth, but is sensitive to margin pressure and volume fluctuations.

WHAT IS DRIVING THE STOCK

Packaging Sector Growth: The Indian plastic industry is projected to grow at a CAGR of 6.24% to reach USD 63.69 billion by 2031. Packaging leads the way with a 41.62% share in 2025.

Export Potential: Government initiatives and duty-free access to the UK market are expected to boost plastic exports.

Valuation Discount: Trading at a P/E of 9.17x versus an industry P/E of 23.37x, the stock appears undervalued, attracting bargain hunters.

BULL vs BEAR

Bull:Undervalued play on a growing packaging industry with export tailwinds. Potential for margin expansion as raw material costs stabilize.

Bear:Micro-cap liquidity risk. Profitability is declining. Input cost volatility due to geopolitical tensions. Dependence on SMEs makes revenue susceptible to economic slowdowns.

WHAT MARKET IS PRICING

The market is pricing in a turnaround in profitability and a continuation of historical growth rates. A failure to deliver on either front will lead to a significant correction.

BOTTOM LINE

Hindustan Adhesives is a high-risk, high-reward micro-cap dependent on favorable macro conditions and efficient execution. Recent performance suggests caution.

Why Now

Recent 52-week low indicates market skepticism
Declining profitability in Q3 and Q4 FY26
Volatile input costs due to geopolitical instability

Potential Catalysts

Significant order wins demonstrating market share gains
Raw material cost stabilization leading to margin expansion
Government incentives boosting export sales

Key Risks

Micro-cap: inherent liquidity risk
Declining profitability: revenue and profit contraction
High debt/equity ratio: 0.82

Institutional Activity

Promoter holding is high at 68.48%, but has decreased slightly (-0.1%). FII and DII holdings are nil.

Macro Context

The Indian plastic industry is growing, but faces challenges from waste management regulations and volatile feedstock costs.

Cash Flow Quality

Profit converting to cash: Free Cash Flow 5Y is ₹31.88 Cr, but recent performance is concerning.

3–6 Month Outlook

Next 3-6 months hinge on the company's ability to stabilize margins and demonstrate revenue growth. Monitor raw material prices and order book closely.

Primary Thesis Risk

Inability to pass on rising input costs will crush margins and erode profitability.

For educational purposes only. Not investment advice. Consult a SEBI-registered advisor before investing.

Returns & Performance

Good

Return on Equity (ROE)

17.99%

Profit generated per ₹1 of shareholder equity

Good

Return on Capital (ROCE)

17.25%

Returns generated on total capital deployed

Poor

Oper. Profit Margin (5Y Avg)

9.01%

Average operating profit margin over 5 years

Dividend Yield

0.00%

Annual dividend as % of current share price

Hindustan Adhesives Ltd Valuation Check

Excellent

Price to Earnings (P/E)

9.17x

Share price ÷ earnings per share. Lower = cheaper

Poor

Industry Avg P/E

23.37x

Average P/E of all peers in this sector

Market-cap Classification

Small-cap

Higher growth potential with higher volatility.

Market Capitalisation

166.53 (Cr)

Total market value of all outstanding shares

Shareholding Pattern

Excellent

Promoter Holding

68.48%

% shares held by company founders/management

Poor

FII Holding

0.00%

% shares held by foreign institutional investors

Poor

DII Holding

0.00%

% held by domestic mutual funds, LIC, banks

Excellent

Promoter Pledged %

0.00%

% of promoter shares pledged as collateral — lower is safer

Growth Engine

Excellent

Profit Growth (Quarterly YoY)

21.42%

Net profit growth vs same quarter last year

Poor

Revenue Growth (Quarterly YoY)

-21.99%

Revenue growth vs same quarter last year

Excellent

Revenue Growth (5-Year CAGR)

13.22%

Compounded annual revenue growth over 5 years

Excellent

EPS Growth (5-Year CAGR)

18.06%

Earnings per share growth over 5 years

Excellent

Net Profit Growth (5-Year CAGR)

18.06%

Compounded annual net profit growth over 5 years

Balance Sheet Health

Poor

Debt to Equity Ratio

0.82x

Total debt ÷ equity. Below 0.5 = financially healthy

Excellent

Interest Coverage Ratio

4.66x

EBIT ÷ interest expense. Above 2.5 = can pay interest comfortably

Free Cash Flow (5-Year Total)

31.88 (Cr)

Cash left after capex over 5 years. Positive = self-funded growth

Labels (e.g., "Excellent", "Good") are peer-based vs industry/sector averages — data-only, not advice

Hindustan Adhesives Ltd Fundamental Analysis & Valuation Benchmarking

Educational evaluation of HINDADH across key market metrics for learning purposes.

Positive Indicators

10 factors identified

Strong Return on Equity (17.99%)

Observation: Efficient use of shareholders' capital generating superior returns.

Analysis: ROE >15% indicates strong profitability and effective management. This metric suggests the company can generate substantial returns on invested capital.

Excellent ROCE Performance (17.25%)

Observation: Superior returns on capital employed across business operations.

Analysis: ROCE >15% demonstrates efficient capital deployment and strong operational performance.

Attractive Valuation (P/E: 9.17 vs Industry: 23.37)

Observation: Trading at discount to industry peers.

Analysis: P/E below industry average may present value opportunity.

Robust Profit Growth (21.42%)

Observation: Strong year-over-year profit expansion demonstrates business momentum.

Analysis: Profit growth >20% indicates effective execution and market opportunity capture.

Consistent Growth Track Record (13.22% CAGR)

Observation: Strong 5-year sales compound annual growth rate.

Analysis: Consistent sales CAGR >12% demonstrates sustainable growth model.

Excellent EPS Growth (18.06% CAGR)

Observation: Outstanding 5-year earnings per share compound growth.

Analysis: EPS CAGR >15% indicates strong wealth creation potential.

Strong Profit Growth Track Record (18.06% CAGR)

Observation: Consistent 5-year profit compound annual growth rate.

Analysis: Profit CAGR >15% demonstrates scalable business model.

Strong Cash Generation (₹31.88 Cr over 5Y)

Observation: Healthy free cash flow generation supports growth and returns.

Analysis: Strong FCF provides flexibility for dividends, debt reduction, and growth investments.

Balanced Promoter Holding (68.48%)

Observation: Optimal balance between promoter control and public float.

Analysis: Promoter holding in 50-75% range provides management alignment.

Zero Share Pledging Risk

Observation: No promoter shares pledged as collateral.

Analysis: Absence of share pledging eliminates potential forced-selling pressure.

Risk Factors

2 factors identified

Revenue Contraction (-21.99%)

Observation: Sales decline may indicate market challenges or competitive pressures.

Analysis: Negative revenue growth requires analysis of market conditions.

No Dividend Distribution

Observation: Company does not currently pay dividends to shareholders.

Analysis: Zero dividend yield may indicate growth reinvestment focus or cash flow constraints.

Hindustan Adhesives Ltd vs Plastic Products - Industrial Peers

Peer Comparison - Plastic Products - Industrial

Compare Hindustan Adhesives Ltd with 10 other companies in the same sector

11 companies

Company Info	Fundamental Overall score	Valuation Price metrics	Profitability Return metrics		Financial Health Debt management	Growth 5Y performance		Dividend Yield %
Company Company name	Score Bull Run comprehensive fundamental score based on 20+ metrics	Price Current trading price of the stock	Market Cap Total value of all shares in the market	P/E Price per share divided by earnings per share	ROE Net income divided by shareholder equity	ROCE Earnings before interest and tax divided by capital employed	Debt/Eq Total debt divided by total equity	Profit 5Y Average annual profit growth over 5 years	Sales 5Y Average annual sales growth over 5 years	Dividend Annual dividend per share divided by price per share
Hindustan Adhesives LtdHindustan Adhes...Selected✓ HINDADH • 514428	55.6/100	₹297.85₹298	₹166.53₹166.53	9.17Average 9.2 Average	17.99%Good 17.99% Good	17.25%Good 17.25% Good	0.82Good 0.8 Good	18.06%Excellent 18.06% Excellent	13.22%Good 13.22% Good	0.00%
Supreme Industries LtdSupreme Industr... SUPREMEIND • 509930	53.6/100	₹3634.40₹3634	₹42365.85₹42365.85	49.96Average 50.0 Average	17.14%Good 17.14% Good	22.04%Excellent 22.04% Excellent	0.06Excellent 0.1 Excellent	14.56%Good 14.56% Good	13.64%Good 13.64% Good	1.02%
Astral LimitedAstral Limited... ASTRAL • 532830	61.1/100	₹1598.60₹1599	₹38732.66₹38732.66	76.05Average 76.0 Average	14.89%Average 14.89% Average	19.71%Good 19.71% Good	0.07Excellent 0.1 Excellent	15.44%Excellent 15.44% Excellent	17.74%Excellent 17.74% Excellent	0.26%
Shaily Engineering Plastics LtdShaily Engineer... SHAILY • 501423	43.6/100	₹2661.20₹2661	₹12031.71₹12031.71	82.32Average 82.3 Average	18.49%Good 18.49% Good	19.52%Good 19.52% Good	0.30Excellent 0.3 Excellent	— —	— —	0.08%
Finolex Industries LtdFinolex Industr... FINPIPE • 500940	46.3/100	₹191.93₹192	₹10944.52₹10944.52	25.02Average 25.0 Average	6.76%Poor 6.76% Poor	8.77%Poor 8.77% Poor	0.00Excellent 0.0 Excellent	4.12%Average 4.12% Average	6.77%Good 6.77% Good	1.13%
Time Technoplast LtdTime Technoplas... TIMETECHNO • 532856	52.7/100	₹179.81₹180	₹9836.32₹9836.32	23.37Average 23.4 Average	14.22%Average 14.22% Average	17.35%Good 17.35% Good	0.22Excellent 0.2 Excellent	18.02%Excellent 18.02% Excellent	8.81%Good 8.81% Good	0.63%
Garware Hi Tech Films LtdGarware Hi Tech... GRWRHITECH • 500655	58.1/100	₹5746.20₹5746	₹8989.88₹8989.88	28.73Average 28.7 Average	15.00%Good 15.00% Good	20.57%Excellent 20.57% Excellent	0.01Excellent 0.0 Excellent	31.28%Excellent 31.28% Excellent	17.93%Excellent 17.93% Excellent	0.31%
Kingfa Science & Technology Co, LtdKingfa Science ... KINGFA • 524019	60.3/100	₹5540.50₹5541	₹5906.41₹5906.41	37.51Average 37.5 Average	23.21%Excellent 23.21% Excellent	30.55%Excellent 30.55% Excellent	0.01Excellent 0.0 Excellent	44.08%Excellent 44.08% Excellent	18.66%Excellent 18.66% Excellent	0.00%
Prince Pipes & Fittings LtdPrince Pipes & ... PRINCEPIPE • 542907	17.1/100	₹266.35₹266	₹3009.44₹3009.44	129.66Average 129.7 Average	2.73%Poor 2.73% Poor	3.85%Poor 3.85% Poor	0.15Excellent 0.1 Excellent	-17.77%Poor -17.77% Poor	9.06%Good 9.06% Good	0.18%
Jai Corp LtdJai Corp Ltd... JAICORPLTD • 512237	53.4/100	₹118.64₹119	₹2510.08₹2510.08	15.02Average 15.0 Average	4.10%Poor 4.10% Poor	4.18%Poor 4.18% Poor	0.00Excellent 0.0 Excellent	15.29%Excellent 15.29% Excellent	-0.35%Poor -0.35% Poor	0.35%
R M DRIP & SPRINK SYS LTDR M DRIP & SPRI... RMDRIP • 544456	60.6/100	₹18.41₹18	₹1978.13₹1978.13	62.94Average 62.9 Average	39.70%Excellent 39.70% Excellent	44.66%Excellent 44.66% Excellent	0.41Excellent 0.4 Excellent	53.59%Excellent 53.59% Excellent	41.18%Excellent 41.18% Excellent	0.06%

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Hindustan Adhesives Ltd Quarterly Performance

Latest quarterly metrics for HINDADH — revenue growth and profit growth vs same quarter last year

Revenue Growth (YoY)

-21.99%

Latest quarter vs same quarter previous year

Net Profit Growth (YoY)

21.42%

Latest quarter net profit vs same quarter previous year

5-Year Revenue CAGR

13.22%

Compounded annual revenue growth over 5 years

5-Year Profit CAGR

18.06%

Compounded annual net profit growth over 5 years

Hindustan Adhesives Ltd Technical Indicators

SMA 50, SMA 200, RSI and volume signals for HINDADH — calculated from daily price history

Neutral — RSI 46

Momentum is balanced — neither overbought nor oversold.

SMA 50

₹304

▼ Price below SMA 50 — Short-term bearish

SMA 200

₹312

▼ Price below SMA 200 — Long-term downtrend

30-Day Avg Volume

1K shares/day

Average daily traded volume over last 30 trading sessions

Technical indicators are for educational purposes only. Not investment advice.

Hindustan Adhesives Ltd Financial Statements

Annual income statement, balance sheet and cash flow for Hindustan Adhesives Ltd (HINDADH) — sourced from NSE/BSE filings.

Loading Financial Statements...

Fetching financial data for Hindustan Adhesives Ltd

About HINDADH (Hindustan Adhesives Ltd)

Hindustan Adhesives Ltd is a dynamic force within the industrial plastic products sector, carving a niche as a leading manufacturer of specialized adhesive solutions. Their extensi...ve catalog caters to diverse needs, ranging from robust packaging applications to intricate industrial processes. Committed to innovation, HINDADH continually refines its product line, employing advanced polymer chemistry and cutting-edge manufacturing techniques. This dedication to progress ensures high-performance adhesives that meet the ever-evolving demands of a global market, fostering long-term partnerships with businesses seeking dependable bonding solutions. HINDADH focuses on delivering consistent quality and exceptional performance, solidifying its position as a trusted partner in the realm of industrial adhesive technology. Their portfolio is characterized by a diverse array of pressure-sensitive adhesives, each meticulously engineered for specific applications. HINDADH provides a comprehensive suite of adhesive solutions, including high-strength bonding agents for demanding industrial environments, versatile sealing tapes for packaging, and specialized films designed for enhanced performance. Understanding the critical role that adhesives play in various industries, HINDADH invests heavily in research and development. This ensures that their products not only meet but exceed industry standards, delivering exceptional adhesion, temperature resistance, and durability. Their product offerings are meticulously formulated to provide reliable adhesion across a broad spectrum of materials, optimizing efficiency and minimizing waste for their clientele. Furthermore, HINDADH distinguishes itself through a customer-centric approach, offering tailored solutions and expert technical support to its clients. Their team collaborates closely with customers to fully grasp their specific requirements, delivering customized adhesive formulations that optimize performance and streamline production processes. With a steadfast dedication to environmental sustainability, HINDADH is actively pursuing eco-friendly alternatives in adhesive production, emphasizing water-based and solvent-free options. This commitment to environmental stewardship highlights their dedication to responsible business practices, contributing to a greener future for the adhesive industry and showcasing their drive to innovation and sustainability.