Huhtamaki India Limited has submitted to the Exchange, the unaudited financial results for the period ended March 31, 2026.
HUHTAMAKI · price
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Huhtamaki India reported Q1 2026 net sales of Rs 5,936 million, nearly flat versus Q1 2025 (Rs 5,930 million). Profit after tax declined to Rs 256 million from Rs 261.5 million year-on-year, with EPS at Rs 3.39 vs Rs 3.46. A critical accounting correction was disclosed: depreciation for FY 2024 and FY 2025 was erroneously calculated on WDV basis instead of the company's Straight Line Method policy, resulting in understated depreciation. An additional Rs 88 million depreciation charge was recognized in Q1 2026 to rectify this, with deferred tax credit of Rs 22 million partially offsetting the impact. Management concluded the amounts were not material to prior years. The company's sole segment is Consumer Packaging. Auditors issued an unmodified review report.
The Rs 88 million depreciation catch-up charge suppresses Q1 2026 profits and reflects prior-year accounting errors, though the clean auditor opinion provides assurance. Flat revenue and margin pressure are concerns amid rising material costs.