Approval of unaudited financial results for the 1st quarter and three months ended March 31, 2026
HUHTAMAKI · price
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Huhtamaki India reported Q1 FY2026 net sales of Rs. 5,936 million, essentially flat (+0.1%) versus the same quarter last year, as pricing and mix gains offset lower volumes. Profit after tax (PAT) declined to Rs. 256 million from Rs. 261.5 million in Q1 FY2025 (-2.1%), impacted by higher finance costs and an additional Rs. 88 million depreciation charge. The company also recognized a Rs. 22 million deferred tax credit related to the depreciation correction. EBIT margin improved slightly to 6.5% (Q1 FY2025: 6.4%). A prior-year accounting error (depreciation understated by Rs. 88 million over FY2024 and FY2025) was corrected in Q1 2026 as management concluded the amounts were immaterial to those years. The auditor issued an unmodified limited review report.
The PAT decline and prior-period depreciation correction may cause short-term concern, though the flat revenue growth and unchanged auditor opinion suggest operational stability. The depreciation catch-up is a one-time charge unlikely to repeat.