Hindprakash Industries Limited (HPIL)

Loading page…

Hindprakash Industries Limited (HPIL) · mywealthgrid

About

Hindprakash Industries manufactures dyes and pigments for textiles, pharmaceuticals, paints, and coatings industries. With a market cap of ₹145.18 Cr, it is a small-cap player in India's chemicals & petrochemicals sector, 74.85% promoter-owned with minimal institutional holdings.

Face value: ₹10

Market cap

₹130 Cr

P/E

84.2×

P/B

2.5×

Dividend yield

0.4%

ROE

3.2%

ROCE

8.2%

Debt / equity

0.58

OPM

2.6%

EPS (TTM)

₹1.4

Book value

₹45.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme valuation disconnect: PE of 93.66 prices the stock at ₹127.35 while recent trailing earnings support only ~₹1.36/share, implying the market has priced in a recovery not yet evident in results.
Operational instability: OPM swung from -10.35% (Jun 2026) to 3.42% (Dec 2024), and the 2.59% average margin leaves no buffer; negative OPM in June suggests cost structure fails at lower volumes.
Earnings volatility masks underlying distress: net profit collapsed 93% from ₹2.07 Cr (Mar 2026) to ₹0.14 Cr (Sep 2025); verify whether this reflects demand shock or cost-control failure.
Capital efficiency deteriorating under leverage: ROE of 3.22% with D/E of 0.58 means debt burden on thin earnings could become unsustainable if profitability does not recover.

Generated analysis · source review pending

Growth drivers

Margin recovery potential: if OPM rebounds from Jun 2026's -10.35% to Dec 2024's 3.42%, net profit would expand materially without requiring revenue growth.
Revenue floor of ₹20–38 Cr sustained over eight quarters signals customer retention; stabilization with margin recovery would provide earnings predictability.
Dyes & pigments demand tied to Indian textile exports, pharma API production, and paints consumption; verify whether these end-use sectors are accelerating to assess volume upside.
Higher-margin specialty pigments in automotive coatings, electronics, and pharma colorants typically exceed commodity dyes; verify if HPIL is developing or marketing into these segments.

Generated analysis · source review pending

1,190 historical price candles were omitted because the exchange source has not been verified.

₹114.4-0.8%1Y

Quick read

rule-based

Pros

+Dividend payout of 36.8% of profit
+High promoter holding of 74.9% with no pledge

Cons

−Low return on equity of 4.2% (3-yr avg)
−Thin operating margin of 2.6%
−Profit declined 15.6% a year over the last 3 years
−Revenue shrank over the last 3 years (-0.6% a year)
−Weak interest coverage of 1.8×
−Expensive at 84.2× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

13/100

Business quality: 18
Growth

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Sudarshan Chemical Industries LimitedSUDARSCHEMSUDARSCHEM	₹9,758 Cr	₹11,877 Cr	₹9,922 Cr	₹656 Cr	6%	₹72 Cr	0.4%	4.7%	0.6%	129
Kiri Industries LimitedKIRIINDUSKIRIINDUS	₹3,551 Cr	₹3,591 Cr	₹950 Cr	₹-189 Cr	-26.3%	₹5,847 Cr	663%	-1.7%	115%	-62
Bodal Chemicals LimitedBODALCHEMBODALCHEM	₹2,389 Cr	₹3,189 Cr	₹2,267 Cr	₹183 Cr	8%	₹69 Cr	2.4%	8.4%	4.2%	105
Bhageria Industries LimitedBHAGERIABHAGERIA	₹1,666 Cr	₹1,767 Cr	₹1,003 Cr	₹116 Cr	10.4%	₹69 Cr	5.1%	9.9%	8%	56
Shree Pushkar Chemicals & Fertilisers LimitedSHREEPUSHKSHREEPUSHK	₹1,588 Cr	₹1,715 Cr	₹1,002 Cr	₹102 Cr	10.2%	₹72 Cr	7.2%	14.2%	12.2%	53
Ultramarine & Pigments LimitedULTRAMARULTRAMAR	₹1,186 Cr	₹1,265 Cr	₹775 Cr	₹124 Cr	16%	₹81 Cr	10.4%	10.7%	8.8%	—
Sudarshan Colorants India LimitedSUDARCOLORSUDARCOLOR	₹850 Cr	₹850 Cr	₹791 Cr	₹72 Cr	9.1%	₹41 Cr	5.2%	12.2%	9.1%	—
Asahi Songwon Colors LimitedASAHISONGASAHISONG	₹438 Cr	₹579 Cr	₹575 Cr	₹71 Cr	9.3%	₹34 Cr	3.3%	10.4%	7.1%	85
Aksharchem India LimitedAKSHARCHEMAKSHARCHEM	₹303 Cr	₹412 Cr	₹416 Cr	₹33 Cr	4.6%	₹14 Cr	-0.1%	0.2%	-0.2%	92
Poddar Pigments LimitedPODDARMENTPODDARMENT	₹269 Cr	₹275 Cr	₹374 Cr	₹22 Cr	6.3%	₹15 Cr	3.9%	5.7%	4.1%	137
Hindprakash Industries LimitedHPILHPIL	₹130 Cr	₹161 Cr	₹100 Cr	₹4 Cr	2.6%	₹2 Cr	1.6%	8.2%	3.2%	—

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	104	101	100	102
COGS	—	94	92	—
Gross profit	—	6	8	—
	—	3	4	—
	4	4	4	3
OPM %	3.6%	3.8%	3.9%	2.6%
Depreciation	0	0	0	0
Interest	1	2	3	3
	1	2	1	3
Profit before tax	4	3	2	2
Tax	—	1	1	—
Tax %	—	26.1%	27.4%	—
	3	2	2	2
PAT margin %	2.6%	2.5%	1.6%	1.6%
EPS (₹)	—	2.4	1.5	—
EPS adjusted (₹)	2.6	2.4	1.4	1.4
	—	21.2%	34.2%	—
Annual report	—	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	10	10	10	11	11
Reserves	25	28	32	39	40
Minority interest	0	0	—	—	0
	10	9	21	22	30
	10	8	16	12	11
Total equity & liabilities	55	56	80	85	93
	11	11	16	15	15
CWIP	—	—	—	0	—
Investments	—	—	5	5	—
	—	—	60	65	—
Total assets	55	56	80	85	93

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	3	7	3	-4
	1	16	-8	2
	-3	22	4	5
Net cash flow	0	45	-1	3
Free cash flow	—	5	3	—
CFO / Operating profit %	70.2%	174.8%	82.8%	-166.3%

Compounded sales growth

7 years: —
5 years: —
3 years: -1%
1 year: 2%

Compounded profit growth

7 years: —
5 years: —
3 years: -16%
1 year: 6%

Return on equity

7 years: —
5 years: —
3 years: 4%
Last year: 3%

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	—	6.4%	7.7%	—
EBITDA margin %	3.6%	3.8%	3.9%	2.6%
EBIT margin %	3.3%	3.3%	3.5%	2.2%
PAT margin %	2.6%	2.5%	1.6%	1.6%
Working capital
Receivable days	—	118	95	—
Inventory days	—	64	79	—
Payable days	—	58	45	—
NWC days	—	123	130	—
Leverage
Current ratio	4.23	1.56	1.53	2.19
Debt to EBITDA	2.48	5.62	5.73	11.42
Debt to equity	0.24	0.5	0.45	0.58
Interest coverage	5.1	2.9	1.8	1.8
Asset turnover	1.86	1.26	1.17	1.09
Return ratios
Return on assets %	4.9%	3.1%	1.8%	1.8%
Return on capital employed %	10%	11.2%	9.7%	8.2%
Return on equity %	7.1%	5.8%	3.1%	3.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.85%	74.65%	74.95%	74.95%	74.95%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%	74.85%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.15%	25.35%	25.05%	25.05%	25.05%	25.15%	25.15%	25.15%	25.15%	25.15%	25.15%	25.15%
No. of shareholders	—	—	—	—	—	—	—	—	3,505	3,239	3,099	3,094

Promoter holding up 0 percentage points since Sep 2023.

12 deals · 1 Dec 2021 – 31 Jul 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
31 Jul 2025	MANGAL CHANAKYA PRAKASH	Bulk	NSE	Sell	68,656	₹175.05	₹1.20 Cr
2 Jan 2025	CHEMHUB TRADELINK PRIVATE LIMITED	Bulk	NSE	Buy	83,000	₹157.33	₹1.31 Cr
17 Dec 2024	AMIT KUMAR JAIN HUF	Bulk	NSE	Buy	69,470	₹182.87	₹1.27 Cr
17 Dec 2024	AMIT KUMAR JAIN HUF	Bulk	NSE	Sell	69,470	₹182.70	₹1.27 Cr
17 Dec 2024	LIESHA CORPORATION PRIVATE LIMITED .	Bulk	NSE	Buy	66,393	₹183.54	₹1.22 Cr
17 Dec 2024	LIESHA CORPORATION PRIVATE LIMITED .	Bulk	NSE	Sell	66,391	₹183.33	₹1.22 Cr
17 Dec 2024	CHANDRAGUPT PRAKASH MANGAL	Bulk	NSE	Sell	57,617	₹179.63	₹1.03 Cr
5 Dec 2024	CHEMHUB TRADELINK PRIVATE LIMITED	Bulk	NSE	Buy	1,29,676	₹160.34	₹2.08 Cr
5 Dec 2024	SATYANARAYAN GUPTA	Bulk	NSE	Sell	90,000	₹160.61	₹1.45 Cr
24 Oct 2024	CHEMHUB TRADELINK PRIVATE LIMITED	Bulk	NSE	Buy	75,000	₹147.85	₹1.11 Cr

1–10 of 12

1 / 2

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Om Prakash MangalNon-Executive - Non Independent Director-Chairperson
Mr. Sanjay Prakash MangalExecutive Director
Mr. Santosh Narayan NambiarExecutive Director
Mr. Rushabh Anilkumar ShahNon-Executive - Independent Director
Mr. Jitendra Kumar SharmaNon-Executive - Independent Director
Mrs. Shivani PathakNon-Executive - Independent Director

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Hindprakash Industries Limited. Portfolios are published monthly by each AMC; coverage is still partial.

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

2

Final dividend6 Sept 2024 · ex-date₹0.5
Final dividend28 Sept 2023 · ex-date₹0.5

1

Board meeting to consider results12 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

9 announcementsExport CSV

29 Sept 2026, 7:19 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

29 Sept 2026, 7:02 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Sept 2026, 7:38 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

17 Sept 2026, 5:51 pmCompany Update

Appoitment Of KMP Under Regulation 30(5)

General PDF

17 Sept 2026, 5:37 pmOthers

Board Meeting Outcome for Outcome Of Board Meeting For Appointment Of Company Secretary And Compalice Officer

Outcome without intimation PDF

17 Sept 2026, 5:34 pmCompany Update

Appointment of Company Secretary and Compliance Officer

Appointment of Company Secretary / Compliance Officer PDF

7 Sept 2026, 6:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

3 Sept 2026, 8:12 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
29 Sept 2026, 7:19 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
29 Sept 2026, 7:02 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF

Loading announcements…

Hindprakash Industries Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends2

Board meetings1

Announcements

Dividends2

Board meetings1

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

2

1

2

1