Hindware Home Innovation Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,428 Cr
- ROE
- 0.14%
- Price to sales
- 0.55
- Debt to equity
- 1.16
- 52W high / low
- ₹378 / ₹161
- Sales growth (5Y)
- 7.18%
- EBITDA margin
- 7.64%
- Net profit margin
- 0.06%
- Promoter holding
- 52.74%
- Sales (last year)
- ₹2,604 Cr
Hindware Home Innovation Limited is a leader in Building Products and a prominent player in Consumer Appliances and Building Products. Building Products business offers a wide range of products under the Bathware, Premium Tiles and Plastic Pipes and Fittings segments. Under the Consumer Appliances business, it offers products to enhance modern living, including kitchen and home appliances under brand ‘Hindware Smart Appliances’. Hintastica Private Limited (HPL), company's Joint Venture with Groupe Atlantic, manufactures state-of-the-art water heaters.[1]
Guidance scorecard · Q1 FY27 call
What Hindware Home In's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ4 FY26 call
10–20%- Bathware (sanitaryware and faucets) business aims for 15%-20% revenue growth in FY27, driven by premiumization, new product launches, and deeper market penetration, with double-digit growth momentum continuing.
- Pipes business expects 14%-15% volume growth in FY27, recovering strongly from March supply issues, with April and May showing around 50% growth and stable raw material prices supporting better realizations.
- Consumer appliances target 15%-20% growth, with INR100 crore quarterly revenue expected by Q1 or Q2 FY27, benefiting from portfolio rationalization and new higher-margin product launches.
- Overall pipeline is healthy, with focus on expanding distribution in Tier 2 & Tier 3 cities, increasing share with weighted dealers, and leveraging premium product mix.
2 more points from Hindware Home In's call on revenue
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MarginsQ4 FY26 call
Up 0–2%Ask what Hindware Home In said on margins →
Full Q4 FY26 analysisCapexQ4 FY26 call
Planned- The Roorkee plant became operational towards the end of January 2026, with ramp-up progressing as planned.
- Capex expansion for the Roorkee plant contributed to an increase in net bank debt from INR385 crore to INR429 crore during FY26.
- Focus in FY27 will be on driving full utilization of the Roorkee capacity and improving operational efficiency.
- Small capex planned in FY27 to further ramp up manufacturing efficiencies.
- Strategic focus on expanding product portfolio and strengthening manufacturing footprint to support sustainable long-term growth.
2 more points from Hindware Home In's call on capex
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FundraisingQ4 FY26 call
None plannedSee what Hindware Home In said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- In March 2026, the pipes business was impacted due to low inventory levels, allowing execution of only around 50% of the business compared to March of the previous year.
- A strong order book was maintained despite the constraints.
- In April 2026, the pipes business recovered strongly with around 50% growth.
2 more points from Hindware Home In's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹166 Cr | 20.3 | |
| 2 | 40%+ | Up 2%+ | ₹100 Cr | 12.7 | |
| 3 | 40%+ | Up 0–2% | ₹3,249 Cr | 17.4 | |
| 4 | 40%+ | Up 0–2% | ₹2,081 Cr | 18.8 | |
| 5 | 40%+ | Flat | ₹2,429 Cr | 41.1 | |
| 6 | 40%+ | Flat | ₹2,163 Cr | 25.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingHindware Home In announcements
All announcements →- Acquisition / mergerNotableHindware Home Innovation Limited announces NCLT sanction of Composite Scheme
Financials of Hindware Home In
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Hindware Home In
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 768 | 623 | 693 | 693 | 772 | 600 | 630 | 594 | 699 | 531 | 676 | 640 | 663 |
| Expenses + | 685 | 560 | 619 | 642 | 698 | 557 | 600 | 565 | 658 | 482 | 620 | 592 | 618 |
| Operating Profit | 83 | 63 | 74 | 51 | 75 | 43 | 30 | 29 | 41 | 49 | 56 | 48 | 44 |
| OPM % | 11% | 10% | 11% | 7% | 10% | 7% | 5% | 5% | 6% | 9% | 8% | 8% | 7% |
| Other Income + | 7 | 6 | 5 | 11 | -5 | 12 | 9 | 7 | -16 | -40 | 4 | 3 | 15 |
| Interest | 23 | 22 | 24 | 24 | 24 | 24 | 24 | 23 | 19 | 18 | 17 | 17 | 19 |
| Depreciation | 28 | 28 | 29 | 31 | 31 | 31 | 31 | 31 | 30 | 30 | 29 | 29 | 29 |
| Profit before tax | 38 | 18 | 27 | 6 | 14 | 0 | -16 | -16 | -25 | -40 | 15 | 6 | 11 |
| Tax % | 25% | 84% | 21% | 5% | 52% | 111% | -24% | -23% | 2% | -37% | 44% | 20% | 27% |
| Net Profit + | 23 | 1 | 20 | 5 | 3 | -4 | -16 | -18 | -31 | -29 | 5 | 4 | -19 |
| EPS in Rs | 2.72 | 0.03 | 2.29 | 0.54 | 0.26 | -0.48 | -1.86 | -2.12 | -3.70 | -3.48 | 0.59 | 0.42 | -2.28 |
Financials of Hindware Home In
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 1,671 | 1,613 | 1,775 | 2,294 | 2,872 | 2,776 | 2,523 | 2,510 |
| Expenses + | 1,546 | 1,525 | 1,632 | 2,118 | 2,627 | 2,514 | 2,380 | 2,313 |
| Operating Profit | 124 | 88 | 143 | 176 | 246 | 263 | 143 | 198 |
| OPM % | 7% | 5% | 8% | 8% | 9% | 9% | 6% | 8% |
| Other Income + | 9 | 24 | 18 | 129 | 36 | 15 | 12 | -18 |
| Interest | 29 | 33 | 29 | 20 | 77 | 93 | 89 | 70 |
| Depreciation | 20 | 46 | 39 | 39 | 101 | 119 | 123 | 117 |
| Profit before tax | 85 | 33 | 92 | 245 | 103 | 66 | -57 | -8 |
| Tax % | 36% | 30% | 41% | 17% | 35% | 45% | -12% | -53% |
| Net Profit + | 55 | 23 | 55 | 202 | 58 | 28 | -68 | -39 |
| EPS in Rs | 2.76 | 6.56 | 24.12 | 6.83 | 3.08 | -8.16 | -4.74 | |
| Dividend Payout % | 0% | 5% | 4% | 2% | 6% | 11% | 0% | 0% |
Financials of Hindware Home In
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.00 | 14 | 14 | 14 | 14 | 14 | 17 | 17 |
| Reserves | 242 | 260 | 315 | 512 | 561 | 583 | 760 | 720 |
| Borrowings + | 303 | 328 | 242 | 374 | 958 | 1,046 | 889 | 856 |
| Other Liabilities + | 431 | 407 | 466 | 1,245 | 769 | 776 | 862 | 859 |
| Total Liabilities | 976 | 1,010 | 1,039 | 2,146 | 2,303 | 2,420 | 2,528 | 2,452 |
| Fixed Assets + | 108 | 190 | 157 | 743 | 912 | 918 | 875 | 999 |
| CWIP | 4 | 5 | 11 | 58 | 36 | 55 | 209 | 94 |
| Investments | 0 | 0 | 26 | 114 | 88 | 104 | 73 | 39 |
| Other Assets + | 863 | 815 | 845 | 1,230 | 1,267 | 1,344 | 1,370 | 1,321 |
| Total Assets | 976 | 1,010 | 1,039 | 2,146 | 2,303 | 2,420 | 2,528 | 2,452 |
Financials of Hindware Home In
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 79 | 40 | 234 | 226 | 221 | 241 | 192 | 258 |
| Cash from Investing Activity + | 65 | -31 | -52 | -124 | -705 | -219 | -215 | -129 |
| Cash from Financing Activity + | -123 | -28 | -178 | -83 | 467 | -2 | 18 | -120 |
| Net Cash Flow | 22 | -19 | 5 | 19 | -17 | 20 | -4 | 8 |
| Free Cash Flow | 41 | 9 | 207 | 187 | 26 | 59 | -6 | 133 |
| CFO/OP | 64% | 108% | 179% | 163% | 105% | 107% | 139% | 139% |
Financials of Hindware Home In
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 78 | 81 | 84 | 49 | 48 | 60 | 73 | 61 |
| Inventory Days | 94 | 105 | 86 | 158 | 283 | 243 | 311 | 163 |
| Days Payable | 57 | 38 | 44 | 59 | 123 | 129 | 210 | 116 |
| Cash Conversion Cycle | 115 | 149 | 126 | 147 | 208 | 174 | 174 | 108 |
| Working Capital Days | 36 | 40 | 43 | -33 | 10 | -4 | 11 | -11 |
| ROCE % | 12% | 21% | 22% | 15% | 11% | 4% | 7% |
Guidance history
How Hindware Home In's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Up 0–2% | Planned | None planned | — |
| Q3 FY26 call → | 10–20% | — | None planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
5 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −53.5% | 3% |
| Last 6 months | −21.6% | 16% |
| Last 3 months | −21.8% | 13% |
The price is 71.6% below its all-time high of ₹600.74 (4 Aug 2023). Stocks more than 20% below their peak have their score halved, so 10 became 5.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Hindware Home In: 0.4 × 3 + 0.4 × 16 + 0.2 × 13 = 10, halved to 5 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Hindware Home In's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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