Hindware Home Innovation Limited – Investor Presentation Summary

Key Operational Highlights

  • Bathware business maintains 500+ brand stores, 35,000+ distributors, and 72,500+ retail touchpoints nationwide
  • Pipes business has 78,500+ MTPA total installed capacity across Sangareddy, Telangana (66,000+ MTPA) and Roorkee, Uttarakhand (12,500 MTPA)
  • Roorkee plant commenced commercial production from 30 January 2026
  • Truflo pipes business maintains 320+ distributors and 30,000+ dealers with 100,000+ plumber community engagement
  • CPVC products accounted for ~32% of total value mix in Q1 FY27

Segment-wise Performance

Bathware Business:

  • Q1 FY27 sales: ₹387 crore (14% YoY growth from Q1 FY26 ₹341 crore)
  • Retail remains primary contributor; institutional & project sales contributed ~25%
  • Balanced revenue mix with both channels growing

Pipes & Fittings Business:

  • Facing macro headwinds including currency volatility and PVC resin price fluctuations
  • Capacity ramp-up phase at recently commissioned Roorkee plant
  • Aggressive competition and pricing pressure affecting performance
  • Product portfolio includes high value-added categories: Double Wall Corrugated (DWC) pipes, PTMT bath fittings, and Foam Core pipes
  • Fire sprinkler systems currently undergoing BIS audit for certification

Consumer Appliances Business:

  • Q1 FY27 revenue: ~₹83 crore (16% YoY growth)
  • Targeting revenues exceeding ₹500+ crore within 2 years, scaling to ₹700-750 crore by FY31
  • Strong gross margins of 35-40% expected, with overall margins expanding to double-digit as scale builds up
  • Hintastica Private Limited (HPL) transitioned to wholly owned subsidiary in Q1FY27, operating with asset-light model

Financial Highlights

Bathware Business (Q1 FY27):

  • Revenue: ₹387 crore
  • EBITDA: ₹46 crore (includes other income)
  • PBT: ₹32 crore (includes other income)

Pipes Business (Q1 FY27):

  • Revenue: ₹193 crore
  • EBITDA: ₹5 crore (includes other income)
  • PBT: ₹(2) crore (includes other income)

Consumer Appliances (HHIL Standalone Q1 FY27):

  • Revenue: ~₹83 crore
  • EBITDA: ₹10 crore (includes other income, before exceptional items)
  • PBT: ₹6 crore (includes other income, before exceptional items)
  • EBITDA Margin: 14%
  • PBT Margin: 7%

Consolidated Performance (Q1 FY27):

  • Revenue: ₹663 crore
  • EBITDA: ₹61 crore (reported figures include other income and before exceptional items)
  • PBT: ₹36 crore (reported figures include other income and before exceptional items)
  • PAT: ₹27 crore
  • EPS: ₹2.7

Geographical Revenue Split

  • Domestic vs Export/Regional Revenue: Not Specified
  • Regional Breakdown: Not Specified

Balance Sheet Snapshot

  • Financial Health Insights: Excluding inter-company loan of ₹98 crore extended by Hindware Home Innovation Limited to Hindware Limited
  • Working Capital/Leverage Metrics: Not Specified

Capex & Cash Flow Health

  • Capital Expenditure: Not Specified
  • Free Cash Flow: Not Specified
  • Operating Cash Flow: Not Specified
  • Net Debt Movement: Not Specified

Strategic & R&D Initiatives

  • Bathware: "Designed for Sukoon" campaign leveraging core values of trust and comfort to deepen customer connection
  • Pipes: Focus on introducing new value-added products, managing costs effectively, and expanding distribution
  • Consumer Appliances: Expanding market footprint by scaling dealer network and selectively opening exclusive brand stores
  • Sustainability initiatives: Energy efficiency (daylight harvesting, LED lighting), water efficiency (zero discharge, rainwater harvesting), rooftop solar, waste management, and lower GHG emissions

Industry Trends & Business Environment

  • Bathware: Improving market conditions supporting mid-teen sales growth target for FY27
  • Pipes: Volatility of currency and PVC resin prices, aggressive competition and pricing pressure
  • Consumer Appliances: Resolving past operational bottlenecks by FY27 positions business for steady growth

Management Commentary & Growth Outlook

Bathware:

  • Aims for mid teen sales growth in FY27
  • Supported by improving market conditions and strong momentum across core categories and markets

Pipes:

  • Ongoing roadmap focuses on introducing new value-added products, managing costs effectively, and expanding distribution

Consumer Appliances:

  • Targeting revenues to cross ₹500+ crore within 2 years, scaling to ₹700-750 crore by FY31
  • Expecting strong gross margins of 35-40% and expanding overall margins into double-digit as scale builds up

Corporate Restructuring Update

  • Composite Scheme of Arrangement approved by board
  • Demerger of Consumer Products Business into wholly-owned subsidiary HHIL Limited
  • Amalgamation of remaining Company into Hindware Limited
  • Shareholders holding 1 share in Hindware Home Innovation Limited will receive 1 share in HHIL Limited and 1 share in Hindware Limited
  • Post-implementation, HHIL Limited and Hindware Limited will both be listed on BSE & NSE
  • Appointed date: 01st April 2025
  • Received approval from BSE Limited and National Stock Exchange Limited
  • Scheme received requisite approval from unsecured creditors and equity shareholders on 7 March 2026
  • Subject to sanction by NCLT