HP Adhesives Limited has announced that CARE Ratings Limited has reviewed and reaffirmed its credit ratings in a press release dated January 29, 2026. The company informed both the National Stock Exchange of India and BSE Limited about this development in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Credit Rating Details

CARE Ratings has maintained its assessment of HP Adhesives' creditworthiness with specific ratings for different facility types. The rating agency's review covered the company's banking arrangements and provided updated outlooks for its financial instruments.

The reaffirmed rating of CARE BBB for long-term facilities and CARE A3+ for short-term facilities comes with a Rating Watch Negative (RWN) outlook. This rating applies to bank facilities totaling ₹37.96 crore. Simultaneously, CARE Ratings has withdrawn its rating for long-term bank facilities that currently stand at zero amount.

Regulatory Compliance

The rating announcement was formally communicated to both major stock exchanges where HP Adhesives shares are listed. The company trades on the National Stock Exchange under the script ID HPAL and on BSE Limited with script code 543433.

Chairperson and Executive Director Anjana Haresh Motwani signed the regulatory filing on January 30, 2026. The company has also made this information available on its official website at www.hpadhesives.com , ensuring transparency for all stakeholders including investors and creditors.

Rating Watch Negative Implications

The Rating Watch Negative outlook indicates that CARE Ratings is monitoring certain factors that could potentially impact the company's credit profile. While the current ratings remain unchanged, the RWN status suggests the rating agency will closely observe HP Adhesives' performance and financial metrics in the near term.

HP Adhesives Limited , a leading player in the adhesives and sealants segment, has announced its financial results for the first half of fiscal year 2026. The company demonstrated resilient performance amidst challenging market conditions, reporting growth in revenue while experiencing a decline in profitability.

Financial Highlights

For the half-year ended September 30, 2025, HP Adhesives reported:

Key Performance Insights

Revenue Growth

The company's revenue from operations increased by 9.8% year-over-year, reaching ₹13,116.52 lakh in H1 FY2026. This growth indicates strong demand for HP Adhesives' products.

Profitability

Despite the revenue growth, net profit after tax decreased by 21.0% to ₹772.75 lakh. This decline may be attributed to increased costs and an exceptional item reported during the period.

Operational Efficiency

The company's EBITDA decreased by 5.7% year-over-year, suggesting some pressure on operational efficiency.

Exceptional Item

HP Adhesives reported an exceptional item of ₹32.34 lakh related to a GST audit demand, which impacted the overall profitability for the period.

Balance Sheet Position

As of September 30, 2025, the company reported total assets of ₹23,204.41 lakh and an equity base of ₹18,847.67 lakh.

Segment Performance

HP Adhesives continues to operate primarily in the adhesives and sealants segment. The company's focus on this core business has contributed to its revenue growth.

Future Outlook

While the company faces challenges in maintaining profit margins, the revenue growth suggests continued demand for its products. HP Adhesives' management may need to address cost pressures and operational efficiencies to improve profitability in the coming quarters.

Note: All financial figures are based on consolidated results as reported by the company.