ALFA Finder| Revenue growth | Hindware Ltd H1 +15%, Q2 +13% YoY |
|---|---|
| Margins | Bathware EBITDA 11%; Hindware Ltd Q2 ~8% vs 9% |
| Demand visibility | Bathware momentum; CPVC seasonal softness noted |
| Management confidence | Bathware mid-teen growth aim; cautious on Pipes |
Growth
Bathware Q2 +11% YoY to ₹440 Cr; Pipes ₹227 Cr vs ₹196 Cr; H1 Hindware Ltd revenue ₹1,207 Cr vs ₹1,052 Cr.
Outlook
Bathware aims mid-teen FY27 sales growth; consumer appliances targets ₹500+ Cr in 2 years, ₹700–750 Cr by FY31.
Risks
Pipes hit by PVC resin and currency volatility, Roorkee ramp-up, pricing pressure; Pipes loss-making at PBT level.
Last quarter's promises, checked
Delivered
- Roorkee ramp-up on track → Roorkee plant live in Q2 (= BEAT)
Partly delivered
- Pipes volume +14–15% → Pipes revenue +16% (value, not volume) (= PARTIAL)
- Bathware EBITDA +1–2pp on FY26 10.3% → Q2 11% (= PARTIAL)
- Combined net debt cut 30–40% in 2 yrs → Bathware only ₹277→₹192 Cr (= PARTIAL)
Missed
- Bathware FY27 growth 15–20% → Q2 +11%, FY27 aim cut to mid-teens (= MISS)
- Appliances ₹100 Cr/qtr by Q1–Q2 FY27 → Q2 ₹86 Cr (= MISS)
- Court order in 2–3 months (~Jul–Aug 2026) → NCLT sanction 14 Oct 2026 (= MISS)
Investor Presentation filed with BSE, NSE: HINDWAREAP. Summary written with AI assistance from the document.
Hindware Home Innovation Ltd: key numbers
- Share price
- ₹171.87
- Market cap
- ₹1,438 Cr
- Revenue (annual)
- ₹2,510 Cr
- Net profit (annual)
- ₹-39.68 Cr
- P/E (TTM)
- -319.5×Sector 42.6×
- Promoter holding
- 52.74%+0.00% QoQ
- FII holding
- 5.14%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Hindware Home Innovation Ltd
All →Hindware Home Innovation Management Change
Hindware appointed Nitesh Raj as CEO, Amit Bali as CFO and Kushal Jain as Company Secretary. All three appointments are effective 13 November 2026.
Hindware Home Innovation Q2 FY27 Results: Net Profit ₹6.8 Cr, Up 36.0% YoY
Hindware Home Innovation Ltd reported revenue from operations of ₹770.8 Cr (+14.0% YoY) and net profit of ₹6.8 Cr (+36.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹6.8 Cr · +36.0% YoY
Hindware Home Innovation Merger & Restructuring
Hindware Home Innovation received the certified NCLT order sanctioning its composite demerger and amalgamation scheme, dated 14 October 2026. The effective date and record date will be announced later.
Hindware Home Innovation Board Meeting Date
Hindware Home Innovation's board will meet on 13 November 2026 to approve unaudited Q2 and half-year results. The meeting notice also proposes routine matters beyond the results.
Hindware Home Innovation Management Change
Hindware Home Innovation's CEO and CFO Naveen Malik and Company Secretary Payal Puri resigned effective 3 November 2026. Both are moving to subsidiary Hindware Limited as part of an internal reorganisation.
Hindware Home Innovation Merger & Restructuring
Hindware Home Innovation Limited received the NCLT Kolkata Bench order sanctioning its composite scheme of arrangement involving demerger and amalgamation of its business segments.