Hindustan Foods Ltd (FMCG - Contract Mfg) — fundamental analysis, earnings data, and key metrics. PE: 44.8. ROE: 14.8%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: PAT Growth: 1.4x in FY27
Impact: ₹200-220 Cr PAT
“This guidance is not driven by a step change in assumptions, but by the progressive ramp-up and normalization of assets that are already commissioned.”
What: Export Potential: International Business Division set up
“I think the clarity on both the EU and the U.S. trade treaties is a big difference in terms of my pessimism 3 quarters ago has now changed over to optimism.”
What: Category Entry: Flavoured yogurt, bottled water
“The one for flavored yogurt at Goa will be ready by Q2 FY '27... The new bottled water facility in the West is also advancing.”
What: Cumulative Capex of ₹750 Cr
“The monetary value of INR750 crores of capex doesn't do justice to the teams that have built more than 5 lakh square feet of space.”
What: Not Given → ₹200 Cr to ₹220 Cr
“For FY '27, we are guiding a profit after tax range of INR200 crores to INR220 crores, representing approximately 1.4x growth over FY '26 expected.”
Earnings deceleration risks from management commentary
Trigger: Regulatory changes in labor laws required a catch-up provision in the current quarter.
Impact: PAT impact: Not specified
Management view: The company has already accounted for this in the Q3 results.
Monitor: labor
Trigger: Outgoing GST (5%) is lower than incoming GST on raw materials, leading to working capital blockage.
Impact: PAT impact: Neutral on profit, negative on cash flow
Management view: Transitioning to conversion-based models where customers supply raw materials.
Monitor: regulatory
Key quotes from recent conference calls
“I think out of the INR550 crores to INR570 crores indicated in the second half, I think only about INR40 crores which is indicated in the SMB capex would spill over into FY '27. [Previous Capex guidance]”
“From an organization perspective, we have recently set up an international business division... hopefully, in the next 6 months, we should start seeing him deliver some results. [Initiative: International Business Division]”
“The other thing that we are working on is backward integration. You know that we recently acquired a cone manufacturing facility as well as we set up a stick manufacturing facility. [Initiative: Backward Integration (Cones/Sticks)]”
“even after accounting for the onetime provisioning impact related to the New Labour Code. [Risk (labor): MEDIUM]”
Headline numbers from the latest earnings call
Revenue
₹1,000 Cr
Why: Growth was driven by consistent and disciplined execution of strategy to build a diversified and scalable manufacturing platform despite a tough FMCG environment.
The company hit a milestone of ₹1,000 Cr quarterly revenue for the second consecutive quarter.
EBITDA
₹93 Cr
Why: Profit expansion was driven by better utilization of capacity, operating leverage, and continuous focus on execution excellence across business verticals.
EBITDA margins improved as the company benefited from operating leverage in its shared manufacturing model.
PAT
₹36 Cr
Why: Growth was achieved even after accounting for a onetime provisioning impact related to the implementation of the New Labour Code.
PAT growth remains ahead of revenue growth, indicating margin expansion.
Other Highlights
• 9M FY26 PAT stood at ₹103 Cr, representing 31% year-on-year growth.
• Net debt to equity remains comfortable at 0.77x as of December 31, 2025.
• Annualized adjusted ROCE stood at 19% after adjusting for CWIP and underutilized assets.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Total Gross Block
₹2,000 Cr
Why: Massive expansion across beverages, ice creams, and home care products.
Total Beverage Capacity
250,000 kL
Why: Expansion at Mysuru and other locations to reach substantial scale.
Shoe Division Quarterly Revenue
₹133 Cr
Why: Stabilization of North and South units and ramp-up of production.
Annualized Adjusted ROCE
19%
Why: Calculated by excluding CWIP and underutilized assets to show normalized earning capacity.
Net Debt to Equity
0.77x
Why: Increased borrowing to fund the ₹750 Cr capex program.
Underutilized & CWIP Assets
₹405 Cr
Why: Assets recently commissioned or in progress that haven't reached full capacity.
Total Manufacturing Locations
41
Why: Organic and inorganic expansion across the country.
Ice Cream Cone Capacity
1 million/day
Why: Acquisition of a cone manufacturing plant for backward integration.
Forward-looking targets from management for Long-term
OPM Guidance
18–20%
Capex Plan
₹50 Cr
REAFFIRMED
₹50 Cr
Greenfield Home & Personal Care (HPC) project
Guidance Changes
FY27 PAT Guidance: Not Given → ₹200 Cr to ₹220 Cr
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Hindustan Foods Ltd's latest quarterly results (Mar 2026) show
Hindustan Foods Ltd's current PE ratio is 44.8x.
Hindustan Foods Ltd's price-to-book ratio is 5.8x.
Hindustan Foods Ltd's fundamental strength based on key financial ratios
Hindustan Foods Ltd has a debt-to-equity ratio of N/A.
Hindustan Foods Ltd's return ratios over recent years
Hindustan Foods Ltd's operating cash flow is positive (FY2026).
Hindustan Foods Ltd currently does not pay a significant dividend (yield 0.00%).
Hindustan Foods Ltd's shareholding pattern (Mar 2026)
Hindustan Foods Ltd's promoter holding has remained stable recently.
Hindustan Foods Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
Hindustan Foods Ltd has 5 key growth catalysts identified from recent earnings analysis
Hindustan Foods Ltd has 2 key risks worth monitoring
In Q3 FY26, Hindustan Foods Ltd's management highlighted
Hindustan Foods Ltd's management has provided the following forward guidance for Long-term
Hindustan Foods Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Hindustan Foods Ltd may be worth studying
Hindustan Foods Ltd investment thesis summary:
Hindustan Foods Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
