Submission of Audited Standalone and Consolidated Financial Results for the quarter and financial year ended on 31st March, 2025.
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Hindustan Adhesives Ltd reported FY25 standalone and consolidated revenue from operations of Rs 28,482 lakhs, down from Rs 30,416 lakhs in FY24. Standalone net profit came in at Rs 1,537 lakhs (vs Rs 1,642 lakhs last year), with EPS of Rs 30.02 versus Rs 32.07. Total expenses were broadly flat at Rs 26,787 lakhs, while finance costs rose to Rs 615 lakhs from Rs 526 lakhs and depreciation increased to Rs 1,112 lakhs. The auditor (Salarpuria & Partners) issued a qualified opinion on both standalone and consolidated results because the company recognized Rs 212.85 lakhs as an insurance claim receivable for fire damage at its Roorkee plant on 15 December 2024, despite no surveyor report or formal insurer acceptance being available; the auditor notes profit would have been lower by Rs 212.85 lakhs if this had not been recognized. Capital work-in-progress jumped sharply to Rs 2,292 lakhs (standalone), and the company also set up a new Indonesian subsidiary, PT. Bagla Group Indonesia.
The qualified audit opinion over the Rs 212.85 lakh unconfirmed insurance receivable is a red flag, as ~12% of reported standalone profit depends on recovery that is not yet demonstrated. Combined with declining revenue and profit, this may weigh on investor confidence in the near term.