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Swing Capital

Huhtamaki India Ltd

NSE: HUHTAMAKI BSE: 509820

Having started its journey in 1935 , Huhtamaki is India's leading manufacturer and supplier of sustainable, flexible and innovative solutions in packaging and labelling products.

₹160
52W: ₹149 — ₹273
PE 10.3 · Book ₹171 · -6% vs book
Market Cap₹1,212 Cr
Stock P/E10.3Price to Earnings
ROCE12%Return on Capital
ROE8.96%Return on Equity
Div. Yield1.27%Face Value ₹2

Strengths

  • +Stock is trading at 0.95 times its book value

Weaknesses

  • −The company has delivered a poor sales growth of 0.05% over past five years.
  • −Company has a low return on equity of 8.79% over last 3 years.

Shareholding Pattern

Promoters67.73%
FIIs1.34%
DIIs1.14%
Public29.79%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.73%67.73%67.73%67.73%67.73%67.73%67.73%67.73%
FIIs1.39%1.4%▲0.01.19%▼0.21.16%▼0.01.1%▼0.10.9%▼0.21.12%▲0.21.34%▲0.2
DIIs1.04%1.4%▲0.41.28%▼0.11.08%▼0.20.63%▼0.50.39%▼0.21.12%▲0.71.14%▲0.0
Public29.83%29.48%▼0.329.8%▲0.330.02%▲0.230.53%▲0.530.98%▲0.430.03%▼0.929.79%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales604610639652619610612625623613
Expenses546569607634593571570569568573
Operating Profit58413218263943555440
OPM %10%7%5%3%4%6%7%9%9%7%
Net Profit327263912122625373026
EPS ₹43.353.455.11.551.553.463.34.874.013.39

AI Insights

Revenue Trend

TTM revenue at ₹2,473Cr, up 0.2% YoY. OPM at 8%.

Debt Position

Borrowings at ₹144Cr. Debt-to-equity ratio: 0.11x. Healthy balance sheet.

Capex Cycle

CWIP at ₹35Cr (6% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.14% (-0.39pp change). FIIs: 1.34% (-0.18pp change). Promoters hold 67.73%.

Margin & Efficiency

ROCE declining from 15% (Dec 2014) to 12% (Dec 2025). Working capital days: 39.

Valuation

PE 10.3x with 12% ROCE. Price is -6% above book value of ₹171. Dividend yield: 1.27%.

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