Hindware Home Innovation Limited has informed the Exchange about Transcript
HINDWAREAP · price
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In Q1 FY26, the company reported consolidated revenue of INR 531 crores and EBITDA of INR 58 crores. The Bathware segment posted revenue of INR 341 crores (12.7% EBITDA margin), Consumer Appliances revenue of INR 71 crores, and Pipes revenue of INR 119 crores. Management announced discontinuation of loss-making categories like air coolers (general trade), fans, air purifiers, water purifiers, and furniture fittings to sharpen focus on kitchen appliances. Management guided Bathware margins to mid-teens this year and high-teens by FY27, with the quarterly run rate expected to reach INR 400 crores by Q3-Q4 FY26. The Pipes business, hit by raw material price drops and early monsoons, is targeting 9-9.5% EBITDA margin and 9-10% volume growth, with recovery already visible (34% volume growth in July). The new Roorkee plant will start commercial production in H2 FY26. Total FY26 capex guidance is around INR 92-105 crores across segments.
Shareholders get clarity on a focused turnaround strategy — exiting unprofitable categories, premiumization, and a clear debt-reduction path (INR 60-70 crores cut in FY26, INR 120 crores in FY27, aiming to be debt-free in 4-5 years). The pending demerger into two listed entities (Bathware + Pipes as one, Consumer Durables as the other) could unlock value, with SEBI approval expected within 30-35 days. Near-term sentiment may remain cautious given weak Pipes volumes and Q1 degrowth in Consumer Appliances, but improving margins and H2 recovery guidance are positives.