HNDFDS

Hindustan Foods share price & financials

Price
₹545.4
Market cap
₹7.0k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
8
Latest concall · Q1 FY27 · call held 05 Aug 2026

Hindustan Foods Limited Q1 FY27

EBITDA ₹106.3 cr +26%PAT ₹42.8 cr +33%PBT ₹56.6 cr +33%Total Income ₹1,207 cr +18%

What went well

  • Total income grew 18% YoY to ₹1,207 crores, demonstrating strong financial footing.
  • EBITDA increased by 26% YoY to ₹106.3 crores, reflecting improved operating leverage and asset utilization.
  • PAT grew 33% YoY to ₹42.8 crores, marking the highest ever quarterly PAT.

What to watch

  • Footwear business faced temporary cost pressures from higher raw material prices due to Middle East crisis and revised wage rates, impacting Q1 FY27 by ₹6 crores.
  • GST inversion problems continue to affect cash flows for some business units.
Read the full call →

What Hindustan Foods Limited does

Hindustan Foods Limited (HFL) is a third-party contract manufacturer for India's FMCG industry: it makes products on behalf of consumer brand owners rather than selling under its own name. It operates two models - dedicated manufacturing, where a plant is built and run exclusively for one client and brand, and shared/anchor-tenant manufacturing, where a facility's capacity is used by multiple client companies under long-term contracts. Its plants have historically produced items such as Farex baby food, GSK/HUL nutrition drinks, Reckitt personal-care products, Kwality Walls and Walko Foods ice creams, and footwear for brands including Steve Madden, US Polo Assn. and Hush Puppies. HFL has grown both organically and by acquiring existing manufacturing units (including a Reckitt Benckiser plant in Jammu and a footwear-manufacturing going concern in North India), expanding beyond its original personal-care/home-care base into ice cream, food & beverages, OTC healthcare and footwear.

Segments

  • Home & Personal Care (HPC)
  • Ice Cream
  • Food & Beverages
  • Healthcare (OTC Pharma)
  • Footwear
Manufacturing facilities
28
Team members
10,000+
Operating history
35+ years (manufacturing operations since 1988)
Daily consumer reach
16 Mn+ lives touched daily across product categories
Manufacturing footprint
Facilities across Maharashtra, Goa, Gujarat (Silvassa), Uttar Pradesh, Karnataka (Mysuru), Tamil Nadu, Himachal Pradesh (Baddi), Jammu, Assam (Guwahati) and Odisha
Market position
Among the largest organised players in India's FMCG contract manufacturing industry
Founded 1984Headquarters Mumbai, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 24 tracked 3 delivered 3 missed 18 open
  • Gross Block delivered, diluted said Q2 FY25 Promised: ₹1,800-2,000 crores by FY26 Q1 FY27: No new information provided on this past target. The final verdict remains 'achieved_diluted'.
  • Shoe Business PAT at risk said Q3 FY25 Promised: start becoming positive starting from this quarter and next Q1 FY27: The shoe business incurred a loss of approximately ₹6 crores in Q1 FY27 due to raw material and wage cost pressures, reversing its previous PAT-positive status.
  • Nashik Plant Commercialization Date delayed said Q2 FY25 Promised: April 2025 Q1 FY27: No new information provided on this past event. The final verdict remains 'delayed'.

All 24 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 17.9%, net profit up 34.4% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue883 880 959 1,019 1,039 +18%1,044 +19%1,117 +16%1,201 +18%
EBITDA70 73 78 81 86 +23%95 +30%100 +28%100 +23%
Net profit23 29 32 32 35 +52%39 +34%42 +31%43 +34%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +15.6% 1Y

₹450₹500₹550₹600₹650Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 19 Nov 2025Q3 FY26 — 11 Feb 2026Q4 FY26 — 27 May 2026Q1 FY27 — 5 Aug 2026

1Y: ₹535.4 on 10 Sept 2025 → ₹618.7. High ₹658.2 (31 Aug 2026), low ₹446.1 (29 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
−1.7%
5 Aug
Q4 FY26
−1.2%
27 May
Q3 FY26
+2.1%
11 Feb
Q2 FY26
−1.2%
19 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 17.5% a year over 3 years, FY23 to FY26. Operating margin widened to 8.6%.

Year endingFY23FY24FY25FY26
Revenue₹2.6k Cr₹2.8k Cr₹3.6k Cr₹4.2k Cr
Operating profit₹173 Cr₹222 Cr₹294 Cr₹362 Cr
Operating margin6.7%8.1%8.2%8.6%
Interest₹36 Cr₹57 Cr₹81 Cr₹82 Cr
Depreciation₹38 Cr₹55 Cr₹80 Cr₹89 Cr
Net profit₹71 Cr₹93 Cr₹111 Cr₹148 Cr
Net margin2.7%3.4%3.1%3.5%
Cash from operations₹99 Cr₹87 Cr₹114 Cr₹100 Cr
Free cash flow₹-65 Cr₹-46 Cr₹-118 Cr₹-225 Cr
ROCE18.0%15.0%14.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹21 Cr₹23 Cr₹23 Cr₹23 Cr₹24 Cr₹24 Cr
Reserves₹199 Cr₹281 Cr₹352 Cr₹623 Cr₹1.0k Cr₹1.1k Cr
Borrowings₹218 Cr₹350 Cr₹516 Cr₹727 Cr₹901 Cr₹1.1k Cr
Other liabilities₹256 Cr₹331 Cr₹445 Cr₹552 Cr₹852 Cr₹920 Cr
Total liabilities₹694 Cr₹984 Cr₹1.3k Cr₹1.9k Cr₹2.8k Cr₹3.2k Cr
Fixed assets₹271 Cr₹427 Cr₹554 Cr₹908 Cr₹1.2k Cr₹1.3k Cr
Capital work in progress₹53 Cr₹87 Cr₹125 Cr₹9 Cr₹52 Cr₹150 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹5 Cr₹5 Cr
Other assets₹370 Cr₹470 Cr₹656 Cr₹1.0k Cr₹1.6k Cr₹1.7k Cr
Total assets₹694 Cr₹984 Cr₹1.3k Cr₹1.9k Cr₹2.8k Cr₹3.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −0.96 pp while promoters added +0.53 pp. The shareholder count shrank 16% to 60,623.

Promoters
61.8%
FIIs
5.9%
DIIs
14.7%
Public
17.6%

Since Jun 2025

  • Public −0.96 pp
  • Promoters +0.53 pp
  • DIIs +0.40 pp

How it drifted, 12 quarters

Over this window DIIs went from 6.0% to 14.7% — +8.6 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 64.8%, FIIs 6.6%, DIIs 6.0%, Public 22.5%.Dec '23: Promoters 64.8%, FIIs 6.7%, DIIs 6.0%, Public 22.5%.Mar '24: Promoters 63.8%, FIIs 6.7%, DIIs 7.2%, Public 22.3%.Jun '24: Promoters 63.8%, FIIs 3.0%, DIIs 13.4%, Public 19.7%.Sep '24: Promoters 63.8%, FIIs 3.4%, DIIs 13.8%, Public 19.0%.Dec '24: Promoters 62.2%, FIIs 5.5%, DIIs 14.1%, Public 18.3%.Mar '25: Promoters 62.2%, FIIs 5.2%, DIIs 14.6%, Public 18.0%.Jun '25: Promoters 61.3%, FIIs 5.8%, DIIs 14.3%, Public 18.6%.Sep '25: Promoters 61.3%, FIIs 5.8%, DIIs 14.4%, Public 18.5%.Dec '25: Promoters 61.3%, FIIs 5.8%, DIIs 14.6%, Public 18.3%.Mar '26: Promoters 61.3%, FIIs 5.8%, DIIs 15.1%, Public 17.8%.Jun '26: Promoters 61.8%, FIIs 5.9%, DIIs 14.7%, Public 17.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 2 holders trimming and 4 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Hindustan Foods Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Asha Ramanlal Kothari 21.33%+11.22 pp
Sameer Ramanlal Kothari 16.37%+6.26 pp
V.S. Dempo Holdings Private Limited 10.65%+10.65 pp
Aditi Sameer Kothari 5.38%+5.38 pp
ICICI Prudential Life Insurance Company Limited Insurer5.27%unchanged
Vassudeva Dempo Family Private Trust (Nagesh Dempo Company Private Limited) 4.78%+4.78 pp
Clarus Capital I VC / PE2.34%unchanged
Chaitali Nikhil Vora 2.06%unchanged
Aditya Birla Sun Life Insurance Company Limited Insurer1.80%−0.06 pp
Shrinivas Vasudeva Dempo 1.65%unchanged
Soiru Dempo Family Private Trust (Soiru Dempo Management Holding Private Limited) 1.56%+1.14 pp
Sixth Sense India Opportunities Iii VC / PE1.51%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Expensive

To justify its price of ₹619, this stock must grow earnings at 29% every year for 7 years. Our analysis caps realistic growth at ~25%. At that growth it is worth ₹507 — downside of 18%.

Growth the price implies
29.3% a year
for 7 years, fading to 4%
It has actually compounded at
27.7% a year
net profit, FY23–FY26 · EPS 25.2%
The gap
0.0 pp
-18% downside if it only repeats history
Price today ₹618.7 Value at the reference growth ₹506.57

Change the assumptions yourself →

All earnings calls (8)

Read the Q1 FY27 call →

Learn to analyse Hindustan Foods Limited

Guides on how to read this kind of business and the numbers that matter.