Investor Presentation
HINDWAREAP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hindware Home Innovation has released its Q4 and FY26 results showing mixed performance across divisions. The Bathware business delivered strong results with 10% revenue growth to ₹1,520 crore and 30% EBITDA growth to ₹157 crore, with margins improving to 10.3% from 8.8%, driven by premiumisation and operational leverage. The Pipes business faced challenges with revenue declining 14% to ₹673 crore and EBITDA margin compressing to 6.1% from 7.5% due to raw material volatility and subdued demand. The Consumer Appliances business continues to be loss-making with EBITDA losses widening to ₹41 crore in FY26 from ₹12 crore, though the company has exited loss-making categories to focus on kitchen appliances and water heaters. The consolidated revenue remained flat at ₹2,510 crore. The company has also received board and exchange approval for a composite scheme of arrangement that will demerge the Consumer Products Business into HHIL Limited and amalgamate the remaining company into Hindware Limited, creating two separately listed entities.
The Bathware segment's strong margin improvement and 15-20% sales growth guidance for FY27 signals confidence in core business recovery, while the ongoing losses in Consumer Appliances and headwinds in the Pipes segment may keep overall profitability under pressure until the restructuring is completed.