Huhtamaki India share price today

Huhtamaki India Ltd's share price was ₹216.35 at the close on 4 November 2026. It has been rising for 14 weeks. That is 3.8% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹156 and ₹319, and at that close it sat 37% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Huhtamaki India Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 3 weeks running.

Over the last 11 years the share price moved −1% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 16 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Two changes stood out: highest quarterly revenue in 16 quarters and revenue up on a year earlier for 4 quarters in a row.

1. Highest quarterly revenue in 16 quarters

   Revenue of ₹769 crore in the September 2026 quarter is the highest of the last 16 quarters.

   Why: Revenue rose because the company got more from contract price increases, sold a richer mix of higher-value products, and shipped more physical volume.

   Next results: check whether higher input costs are passed on to customers and profit recovers after the timing gap.

   From the earnings call on 30 Oct 2026.

2. Revenue up on a year earlier for 4 quarters in a row

   In the September 2026 quarter revenue was ₹769 crore, +23% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), Huhtamaki India reported revenue of ₹769 crore, up 23.0% from ₹625 crore a year earlier, and a profit of ₹30.0 crore, down 18.9% from ₹37.0 crore.

Huhtamaki India results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Huhtamaki India's management discussed these results on a call held on 30 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Huhtamaki India closed at ₹216.35 on 4 November 2026, down 8.3% from ₹236.03 a year earlier (7 November 2025) and down 11.5% over five years. Its highest weekly close since March 2016 was ₹436.85 on 23 August 2024.

Huhtamaki India share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

560 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: Huhtamaki India closed at ₹216.35, up 4.5% on the week and down 7.0% on the month. 30 Oct 2026: Huhtamaki India held its results call for July to September 2026. Management guided: Baddi labels plant closure to complete day after call following required notice period.

Earlier

• Results for July to September 2026: Revenue up 23.0% and profit down 18.9% on a year earlier.
• 23 Apr 2026: ex-date for a dividend of ₹2 a share.

Huhtamaki India paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.92% at the ₹216.35 close on 4 November 2026. The last was a dividend of ₹2 a share, ex-date 23 April 2026.

Huhtamaki India dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Huhtamaki India Ltd paid out 13% of its profit as dividends in FY25, and it paid a dividend in 13 of its last 14 reported years. One of those years shows a negative figure because profit itself was negative.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 30 October 2026, Huhtamaki India's management guided: Baddi labels plant closure to complete day after call following required notice period.

“Although our customers are reporting flat or slow-growing volumes, we are growing. This suggests that we may be gaining market share.”Kamal Taneja, on the call for July to September 2026

What management guided

• No major capacity spending needed for at least next 2-3 years to meet demand.
• Recent input cost uplift to be caught up via contractual pass-through in subsequent months.
• Aspiration to deliver sales and profit growth each quarter and year going forward.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 30 October 2026.

What is changing at Huhtamaki India, from the latest results and calls: input cost pass-through and pricing discipline, customer and product mix upgrade toward value segments and solar captive power generation, khopoli plant.

• Input cost pass-through and pricing discipline. Monthly or quarterly index-linked pricing contracts with transparent inventory sharing allow operating profit to recover as commodity costs stabilize; pricing offset most Middle East cost pressure in H1 CY26. ⚠ estimate
• Customer and product mix upgrade toward value segments. New MD since Jan 2025 exited low-margin commodity segments; profit improvement has come from operating margin expansion, not revenue growth, confirming mix is the driver. ⚠ estimate
• Solar captive power generation, Khopoli plant. Solar captive generation pipeline due Q3 CY26, expected to supply ~50% of Khopoli plant power, reducing energy cost; delayed one quarter from original Q2 goal with no explanation. ⚠ estimate
• Debt repayment and cash generation optionality. Borrowings fell from ₹410 crore (Dec 2022) to ₹145 crore (Jun 2026); ₹395 crore of cash and liquid funds now accumulating; intercompany ECB repayment planned early. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 22 August 2026.

Operating margin falls back below 7% for two consecutive quarters after the Q3 2026 inventory normalization, because that would indicate the Q2 2026 margin expansion was driven by one-time customer inventory demand rather than structural mix and pricing improvement, removing the central thesis.

Each change stops working if

• Input cost pass-through and pricing discipline: Customers push back on index-linked pricing and switch to competitors offering unindexed contracts, or commodity deflation is so sharp that the company cannot reprice downward fast enough to retain customers.
• Customer and product mix upgrade toward value segments: Flat revenue persists beyond CY27 despite mix shift, indicating the addressable premium segment is smaller than expected or the company cannot convert premium prospects.
• Solar captive power generation, Khopoli plant: Solar pipeline is delayed beyond Q4 CY26, or the energy cost savings are below ₹8 crore annually, reducing the earnings impact to noise.
• Capital spending cycle completion, CWIP converted to productive capacity: Capacity proves insufficient in H1 CY27, forcing a new capital spending cycle that resets the free cash flow profile.

The main risks

• Customer inventory normalization reverses Q2 CY26 tailwind: Management acknowledged customers pre-built inventory due to Middle East crisis and price anticipation; partial reversal expected Q3 but magnitude is unquantified. ✓ fact
• Management credibility impaired across four verifiable consistency failures: Four cross-call narrative shifts and an undisclosed ₹88 Mn prior-period accounting error cap the reliability of management guidance. ⚠ estimate
• Revenue structural stagnation, five years of flat top-line: Revenue has ranged ₹2,400 to 2,550 Cr for five calendar years; the case is entirely dependent on margin continuation, not volume or revenue recovery. ⚠ estimate
• Raw material volatility from geopolitical disruption: Middle East crisis drove double-digit raw material inflation in H1 2026; while largely passed through, a further escalation or new commodity shock could compress margins before contracts reset. ✓ fact

Our read after the latest results, written 22 August 2026.

When Huhtamaki India reports October to December 2026, these are the 2 checks that show whether the story is still on course. First: Recent input cost uplift pass-through to evidence in next print with profit recovery following timing lag.

Huhtamaki India is not on any of our India lists this week.

Huhtamaki India Ltd earned ₹30.0 Cr of net profit in the Sep 2026 quarter, −18.9% on the same quarter a year earlier. Full-year FY25 profit was ₹118 Cr. Over 10 years profit has grown 9.2% a year on average. That is 3.9% of the quarter's revenue. The same quarter a year earlier earned ₹37.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY25 profit was ₹118 Cr (+34.1% on the year before).

Why profit moved: revenue changed +23.0% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +51.8% and revenue +11.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Huhtamaki India Ltd reported ₹769 Cr of revenue in the Sep 2026 quarter, +23.0% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 7.9% a year on average. The last full year, FY25, came in at ₹2,469 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹2,755 Cr.

FY25 revenue was ₹2,469 Cr, −2.1% on the year before.

Recent pace: the last four quarters grew +11.7% on average, against 7.9% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +11.7%, against +4.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +30.0%, against −43.3% a year (accelerating).

Huhtamaki India Ltd's operating margin was 8.0% in the Sep 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 14 years it has been between 4.2% and 11.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Revenue has been flat at Rs 2,400 to 2,550 Cr for five years, yet EBITDA has nearly tripled from its 2024 trough. The explanation is a deliberate customer and product portfolio shift. The company is not pursuing volume growth across all flexible packaging segments, it is concentrating on higher-value FMCG, home care, and export customers where it can command index-linked pricing and share-of-wallet expansion. The OPM trajectory from 2.77% to 10.02% in six quarters is the evidence that the mix shift is working. Exports at 30% of volumes add geographic diversification.

Why the margin moved: operating margin changed −1.1 percentage points on the year while gross margin changed −2.6 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 106% of Huhtamaki India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in ₹238 Cr of operating cash against ₹118 Cr of profit. After ₹53.0 Cr of spending on assets, ₹185 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Why this happened. Fixed assets grew from Rs 479 Cr (Dec 2022) to Rs 600 Cr (Jun 2026) while CWIP drained from Rs 131 Cr to Rs 8 Cr. Management describes productivity improvements as providing enough capacity for volume growth over the next couple of years without new capex. This creates a period of low-reinvestment cash generation.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 106% of profit came in as cash: the cash cycle got 12 days shorter between FY20 and FY25, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 1.8× depreciation over three years. The next section checks what that spending is building.

Huhtamaki India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 26 days in FY25, down from 38 days in FY20. It spent ₹273 Cr on assets over the last 3 years. Customers take 82 days to pay, and stock sits for 46 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY25 sales of ₹2,469 Cr, each day of that cycle ties up about ₹6.8 Cr, so roughly ₹176 Cr is tied up in the business at any time.

FY25: customers took 82 days to pay and stock sat for 46 days, about 1.5 months of sales sitting as stock, for a full cycle of 26 days, shorter than FY20's 38.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 46 days. Customers pay about 82 days after that. Suppliers are paid at 102 days. Together that makes the 26-day cycle.

Spending on assets: ₹273 Cr over the last 3 years, against ₹148 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹35.0 Cr (FY25): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Huhtamaki India Ltd's P/E is 11.9×, near the low end of its own history: it has been lower only 7% of the time. Its usual P/E (the middle reading) is 25.0×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹17.13.