HP Adhesives Limited has informed the Exchange regarding Change in Director(s) of the company.
HPAL · price
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Awaiting price reaction for this filing.
HP Adhesives reported a weak Q3 FY26 with consolidated revenue from operations of ₹6,536.71 Lakhs (down from ₹6,667.63 Lakhs in Q3 FY25) and consolidated profit after tax of ₹162.22 Lakhs, a sharp ~61% drop from ₹420.72 Lakhs in the year-ago quarter. Exceptional items of ₹48.64 Lakhs (including GST demand payouts and a one-time Labour Code impact on gratuity of ₹42.06 Lakhs) further dented earnings. The Board accepted the resignation of Independent Director Mr. Ajeet Anant Walavalkar due to health reasons (effective 10 December 2025) and appointed Dr. Chandra Sekhar Nettem as a new Independent Director for a 5-year term. A significant subsequent event was disclosed: a fire on 17 January 2026 at the company's Plant Unit-I at Khopoli, Maharashtra damaged property, plant, equipment, and inventory (mainly affecting Solvent Cement production). No casualties were reported, standby production has been activated, and the company says assets were insured, though the financial impact will be booked in Q4 FY26.
Q3 earnings are clearly weak with PAT nearly halving year-on-year, which is likely to weigh on the stock in the short term. Investors should also watch the upcoming Q4 results for the actual financial hit from the January fire incident and the insurance recovery, which could create further volatility.