Huhtamaki India Limited (HUHTAMAKI)

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Huhtamaki India Limited (HUHTAMAKI) · mywealthgrid

About

Packaging company (Industrials sector), ₹2,091 Cr market cap. Generates ₹600–750 Cr quarterly revenue. Recent quarters show margin expansion: OPM improved from 2.77% (Sep 2024) to 10.02% (Jun 2026).

Face value: ₹2

Market cap

₹1,757 Cr

P/E

12.9×

P/B

1.4×

Dividend yield

1.7%

ROE

9.5%

ROCE

12.3%

Debt / equity

0.08

OPM

7.7%

EPS (TTM)

₹18.1

Book value

₹171.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin volatility: OPM swung from 10.02% (Jun 2026) to 2.77% (Sep 2024). Verify: root causes and likelihood of recurrence.
Valuation after strong rally: 1y return 32.13%, stock ₹318.68 (52w high). At PE 15.34, verify growth assumptions and execution risk.
Thin institutional base: FII 0.67%, DII 1.02%; promoter 67.73% limits float and trading liquidity.
Commodity exposure: Packaging dependent on plastic/paper feedstock and energy costs. Verify: hedging practices and margin floors in cost-inflation scenarios.

Generated analysis · source review pending

Growth drivers

Margin recovery: OPM 2.77% (Sep 2024) → 10.02% (Jun 2026), EPS 1.55 → 5.79. Verify whether cost benefits are structural or cyclical.
Revenue acceleration: Jun 2026 ₹750 Cr exceeds 7-quarter range of ₹609–₹652 Cr. Verify: organic growth or temporary spike?
Profit leverage: Revenue +22% YoY (Jun 2025–Jun 2026) but net profit +76% (₹24.94 Cr → ₹43.73 Cr). Verify whether margin recovery sustains in lower-revenue quarters.
Low leverage: D/E 0.08 provides balance-sheet flexibility. Verify: capital allocation priorities (reinvestment, dividends, M&A).

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹232.7-1.3%1Y

Quick read

rule-based

Pros

+Strong return on equity of 20% (3-yr avg)
+Almost debt-free (debt/equity 0.1)
+Comfortable interest coverage of 10.5×
+High promoter holding of 67.7% with no pledge

Cons

−Thin operating margin of 7.7%
−Revenue shrank over the last 5 years (-3.3% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

60/100

Business quality: 43
Growth: 48
Valuation

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

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Financials

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

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2020	Dec 2020	Mar 2021	Dec 2021	Mar 2022	Dec 2022	Mar 2023	Dec 2023	Mar 2024	Dec 2024	Mar 2025	Dec 2025
	2,528	2,463	2,512	2,625	2,721	2,983	2,916	2,549	2,498	2,521	2,521	2,469
COGS	1,671	1,612	1,659	1,872	1,971	2,184	2,122	1,737	1,681	1,740	1,738	1,630
Gross profit	857	850	853	753	750	799	794	813	817	781	783	839
	597	617	630	644	635	642	636	618	633	664	668	648
	260	234	223	109	116	157	158	195	184	117	115	191
OPM %	10.3%	9.5%	8.9%	4.2%	4.3%	5.3%	5.4%	7.6%	7.4%	4.7%	4.6%	7.7%
Depreciation	90	98	96	92	91	86	80	49	43	47	51	52
Interest	21	26	25	27	29	32	32	31	28	18	16	17
	9	8	12	-22	-13	17	11	385	387	65	68	36
Profit before tax	158	118	113	-32	-17	56	57	500	500	117	116	158
Tax	3	22	28	-9	-3	6	-3	90	100	29	28	40
Tax %	1.8%	18.4%	25.1%	-28.1%	-18.5%	11.3%	-5.9%	18.1%	20%	24.7%	24.4%	25.3%
	155	96	85	-23	-14	50	61	410	400	88	88	118
PAT margin %	6.2%	3.9%	3.4%	-0.9%	-0.5%	1.7%	2.1%	16.1%	16%	3.5%	3.5%	4.8%
EPS (₹)	20.6	12.7	11.2	-3	-1.9	6.6	8.1	54.2	53	11.7	11.7	15.7
EPS adjusted (₹)	20.6	—	—	-3	—	6.6	—	54.2	—	11.6	—	15.6
	14.6%	23.6%	26.7%	—	—	30.4%	24.7%	9.2%	9.4%	17.2%	17.2%	12.8%
Annual report	Annual report for Mar 2020	Annual report for Dec 2020	Annual report for Mar 2021	Annual report for Dec 2021	Annual report for Mar 2022	Annual report for Dec 2022	Annual report for Mar 2023	Annual report for Dec 2023	Annual report for Mar 2024	Annual report for Dec 2024	Annual report for Mar 2025	Annual report for Dec 2025

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Equity capital	15	15	15	15	15	15	15	15	15
Reserves	534	541	682	750	—	742	1,135	1,178	1,278
	403	400	269	246	—	366	203	101	101
	482	495	548	572	—	628	648	642	609
Total equity & liabilities	1,435	1,451	1,514	1,583	—	1,751	2,001	1,937	2,004
	437	518	486	482	475	414	411	598	604
CWIP	2	4	8	17	—	100	203	40	35
Investments	138	21	61	18	—	0	80	151	194
	858	908	959	1,066	—	1,237	1,307	1,148	1,171
Total assets	1,435	1,451	1,514	1,583	—	1,751	2,001	1,937	2,004

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Ratios

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

Standalone figures

Ratio	Mar 2022	Dec 2022	Mar 2023	Dec 2023	Mar 2024	Dec 2024	Mar 2025	Dec 2025
Margins
Gross margin %	27.6%	26.8%	27.2%	31.9%	32.7%	31%	31.1%	34%
EBITDA margin %	4.3%	5.3%	5.4%	7.6%	7.4%	4.7%	4.6%	7.7%
EBIT margin %	0.9%	2.4%	2.7%	5.7%	5.7%	2.8%	2.6%	5.6%
PAT margin %	-0.5%	1.7%	2.1%	16.1%	16%	3.5%	3.5%	4.8%
Working capital
Receivable days	—	81	—	79	—	83	—	82
Inventory days	—	50	—	57	—	52	—	46
Payable days	—	80	—	98	—	100	—	102
NWC days	—	51	—	37	—	35	—	26
Leverage
Current ratio	—	1.44	—	2.29	—	2.06	—	2.38
Debt to EBITDA	—	2.33	—	1.04	—	0.86	—	0.53
Debt to equity	—	0.48	—	0.18	—	0.09	—	0.08
Interest coverage	1.5	2.7	2.8	5.3	5.6	5.9	6.4	10.5
Asset turnover	—	1.7	—	1.27	—	1.3	—	1.23
Return ratios
Return on assets %	—	2.8%	—	20.5%	—	4.5%	—	5.9%
Return on capital employed %	—	8.7%	—	11.4%	—	7.6%	—	11.9%
Return on equity %	—	6.6%	—	35.6%	—	7.4%	—	9.1%

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.

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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
	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%	67.73%
	1.44%	0.89%	1.21%	1.39%	1.4%	1.19%	1.17%	1.11%	0.9%	1.12%	1.35%	0.67%
	1.25%	1.33%	1.32%	1.08%	1.4%	1.27%	1.07%	0.63%	0.38%	1.11%	1.14%	1.02%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	29.58%	30.05%	29.74%	29.8%	29.47%	29.81%	30.03%	30.53%	30.99%	30.04%	29.78%	30.58%
No. of shareholders	—	—	—	—	—	—	—	—	35,726	35,356	35,296	35,339

Promoter holding up 0 percentage points since Sep 2023.

42 deals · 27 Jul 2022 – 28 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Jul 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	9,79,948	₹284.38	₹27.87 Cr
28 Jul 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	8,62,641	₹283.82	₹24.48 Cr
28 Jul 2026	DIGVIJAY FINLEASE LIMITED	Bulk	NSE	Buy	6,35,000	₹281.97	₹17.91 Cr
24 Jul 2026	RAMDOOT REALTORS PVT LTD	Bulk	NSE	Buy	11,53,241	₹311.08	₹35.88 Cr
24 Jul 2026	RAMDOOT REALTORS PVT LTD	Bulk	NSE	Sell	11,51,625	₹311.98	₹35.93 Cr
24 Jul 2026	PARTH INFIN BROKERS PVT LTD	Bulk	NSE	Buy	3,94,039	₹307.91	₹12.13 Cr
24 Jul 2026	PARTH INFIN BROKERS PVT LTD	Bulk	NSE	Sell	3,36,963	₹305.11	₹10.28 Cr
23 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	6,72,635	₹308.06	₹20.72 Cr
23 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	6,56,376	₹307.58	₹20.19 Cr
23 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	6,53,617	₹305.11	₹19.94 Cr

1–10 of 42

1 / 5

Mr. Murali SivaramanNon-Executive - Independent Director-Chairperson
Mr. Ashok Kumar BaratNon-Executive - Independent Director
Ms. Seema ModiNon-Executive - Independent Director
Mr. Kamal TanejaExecutive Director-MD
Mr. Axel GladeNon-Executive - Non Independent Director
Mr. Thomas GeustNon-Executive - Non Independent Director
Mr. Vinit MahadevanExecutive Director
Ms. Ramya MohanExecutive Director
Mr. Amit GuptaChief Financial Officer

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

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F&O

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

Not in the F&O segment

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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 Huhtamaki India Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

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

Announcements

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Events

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

19

Final dividend23 Apr 2026 · ex-date₹2
Final dividend24 Apr 2025 · ex-date₹2
Dividend dividend24 Apr 2024 · ex-date₹5
Dividend dividend20 Apr 2023 · ex-date₹2
Dividend dividend20 Apr 2022 · ex-date₹1
Final dividend9 Jun 2021 · ex-date₹3
Final dividend11 Jun 2020 · ex-date₹3
Final dividend24 Apr 2019 · ex-date₹3
Dividend dividend25 Apr 2018 · ex-date₹3
Dividend dividend31 May 2017 · ex-date₹3
Dividend dividend27 Apr 2016 · ex-date₹2.8
Dividend dividend23 Apr 2015 · ex-date₹2.8
Dividend dividend22 Apr 2014 · ex-date₹2.8
Dividend dividend22 Apr 2013 · ex-date₹2.6
Dividend dividend24 Apr 2012 · ex-date₹2.4
Dividend dividend18 Apr 2011 · ex-date₹2.2
Dividend dividend16 Apr 2010 · ex-date₹3
Dividend dividend17 Apr 2009 · ex-date₹1.8
Dividend dividend29 Apr 2008 · ex-date₹1.8

1

Board meeting to consider results21 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

15 announcementsExport CSV

30 Sept 2026, 3:35 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2022	Dec 2022	Mar 2023	Dec 2023	Mar 2024	Dec 2024	Mar 2025	Dec 2025
Margins
Gross margin %	27.6%	26.8%	27.2%	31.9%	32.7%	31%	31.1%	34%
EBITDA margin %	4.3%	5.3%	5.4%	7.6%	7.4%	4.7%	4.6%	7.7%
EBIT margin %	0.9%	2.4%	2.7%	5.7%	5.7%	2.8%	2.6%	5.6%
PAT margin %	-0.5%	1.7%	2.1%	16.1%	16%	3.5%	3.5%	4.8%
Working capital
Receivable days	—	81	—	79	—	83	—	82
Inventory days	—	50	—	57	—	52	—	46
Payable days	—	80	—	98	—	100	—	102
NWC days	—	51	—	37	—	35	—	26
Leverage
Current ratio	—	1.44	—	2.29	—	2.06	—	2.38
Debt to EBITDA	—	2.33	—	1.04	—	0.86	—	0.53
Debt to equity	—	0.48	—	0.18	—	0.09	—	0.08
Interest coverage	1.5	2.7	2.8	5.3	5.6	5.9	6.4	10.5
Asset turnover	—	1.7	—	1.27	—	1.3	—	1.23
Return ratios
Return on assets %	—	2.8%	—	20.5%	—	4.5%	—	5.9%
Return on capital employed %	—	8.7%	—	11.4%	—	7.6%	—	11.9%
Return on equity %	—	6.6%	—	35.6%	—	7.4%	—	9.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

Date	Category	Subject	Filing
30 Sept 2026, 3:35 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
11 Sept 2026, 12:19 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI Listing Regulations, 2015	PDF
1 Sept 2026, 10:21 am	Company Update General	Closure Of Operations Of PS Labels Factory At Baddi.	PDF
19 Aug 2026, 4:29 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
19 Aug 2026, 4:21 pm	Company Update Appointment of Company Secretary / Compliance Officer	Appointment of Company Secretary and Compliance Officer	PDF
31 Jul 2026, 4:49 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
27 Jul 2026, 7:12 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome	PDF
27 Jul 2026, 11:38 am	Company Update Investor Presentation	Announcement under Regulation 30 (LODR)-Investor Presentation	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
	96	101	285	169	-28	133	274	142	238
	5	-30	-88	-73	-56	-90	40	-77	-156
	-87	-68	-200	-74	49	-32	-211	-161	-36
Net cash flow	13	3	-3	22	-35	11	102	-96	46
Free cash flow	33	34	285	120	-107	36	179	76	182
CFO / Operating profit %	—	—	—	72.5%	-25.4%	84.5%	140.5%	121.3%	124.6%

Huhtamaki India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

19

1

Announcements

19

1

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Huhtamaki India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

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

Dividends19

Board meetings1

Announcements

Dividends19

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

19

1

19

1