Composite Scheme of Arrangement Update

The Board had approved a Composite Scheme of Arrangement involving:

  • Demerger of the Consumer Products Business into wholly-owned subsidiary HHIL Limited
  • Amalgamation of the remaining Company into Hindware Limited
  • Shareholders of Hindware Home Innovation Limited will receive 1 share in HHIL Limited and 1 share in Hindware Limited for every 1 share held

The Hon'ble National Company Law Tribunal (NCLT), Kolkata Bench sanctioned the Scheme by its order dated 14 October 2026. The Company received the certified copy of the order on 6 November 2026.

The Scheme will become effective when the respective companies file the certified copy of the NCLT order with the Registrar of Companies, Kolkata. As the Scheme has not become effective as of the date of approval of these financial results (13 November 2026), the financial results for the quarter and half year ended 30 September 2026 do not give effect to the Scheme.

The listing process of HHIL Limited and Hindware Limited with BSE & NSE will be initiated in due course.

Business Performance Highlights

Hindware Limited (Bathware Business)
  • Q2 FY27 Sales: ₹440 crore (11% YoY growth from Q2 FY26 ₹397 crore)
  • Q2 FY27 EBITDA: ₹47 crore
  • Revenue mix: Retail remains primary contributor; institutional & project sales contributed ~25%
  • Distribution network: 500+ brand stores, 35,000+ distributors, extensive retailer network
  • Manufacturing: State-of-the-art facilities across India
  • FY27 Outlook: Aiming for mid-teen sales growth supported by improving market conditions
Hindware Limited (Pipes & Fittings Business)
  • Q2 FY27 Revenue: ₹196 crore
  • H1 FY27 Revenue: ₹380 crore (vs. H1 FY26 ₹315 crore)
  • Installed capacity: 78,500+ MTPA across Sangareddy, Telangana (66,000+ MTPA) and Roorkee, Uttarakhand (12,500 MTPA)
  • Product portfolio: 2,500+ SKUs including CPVC/UPVC/PVC systems, SWR, DWC & column pipes, multi-layer composite pipes, foam core pipes, fire sprinklers, overhead water storage tanks, PTMT faucets & accessories
  • CPVC mix: ~36% of total value mix in Q2 FY27
  • Challenges: Impacted by currency volatility, PVC resin price fluctuations, capacity ramp-up at Roorkee plant, and aggressive competition
  • Distribution: 320+ distributors and 30,000+ dealers
  • Fire sprinkler certification: Currently undergoing BIS audit
Hindware Home Innovation Limited (Consumer Appliances Business)
  • Q2 FY27 Revenue: ~₹86 crore (2% YoY growth)
  • Growth targets: Aiming to cross ₹500+ crore within 2 years, scaling to ₹700-750 crore by FY31
  • Margin profile: Targeting gross margins of 35-40% and expanding to double-digit overall margins as scale builds
  • Go-to-market: Expanding dealer network and selectively opening exclusive brand stores
  • Hintastica Private Limited (HPL): Transitioned to wholly owned subsidiary in Q1 FY27, operating as asset-light model

Consolidated Performance Overview

  • Presentation includes consolidated view across Bathware, Pipes & Fittings, and Consumer Appliances businesses
  • Financial results are presented both quarterly and half-yearly
  • All figures include other income and are before exceptional items
  • Figures are rounded off and as per published financials

Leadership and Governance

Hindware Limited Board (as on date):
  • Mr. Sandip Somany - Chairman & Managing Director
  • Mr. Ashok Jaipuria - Independent Director
  • Ms. Alpana Parida - Independent Director
  • Mr. Ram Babu Kabra - Non-Executive Non-Independent Director
  • Mr. Shashvat Somany - Joint Managing Director (appointed w.e.f. 1st October 2026)
  • Dr. Rainer Siegfried Simon - Independent Director
  • Mr. Salil Kumar Bhandari - Independent Director
Management Team:
  • Mr. Sandeep Sikka - Group Chief Financial Officer
  • Mr. Nirupam Sahay - CEO, Bathware Business
  • Mr. Rajesh Pajnoo - CEO, Pipes Business
  • Mr. Naveen Malik - Chief Financial Officer
Hindware Home Innovation Limited Board (as on date):
  • Mr. Sandip Somany - Chairman & Non-Executive Director
  • Mr. Ashok Jaipuria - Independent Director
  • Dr. Nand Gopal Khaitan - Independent Director
  • Mr. Ram Babu Kabra - Non-Executive Non-Independent Director
  • Mr. Shashvat Somany - Non-Executive Non-Independent Director
  • Ms. Sonali Dutta - Independent Director
  • Mr. Salil Kumar Bhandari - Independent Director

Sustainability Initiatives

  • Energy efficiency through daylight harvesting, LED lighting, efficient motors, advanced cooling and robotics
  • Water efficiency with "zero" discharge, rainwater harvesting, low-flow fixtures, meter monitoring and wastewater recycling
  • Rooftop solar across plants reducing carbon footprint and costs
  • Waste management through process mapping, segregation, wastewater treatment and vermicomposting
  • Lower GHG emissions through on-site solar, green spaces, efficient logistics and eco-friendly products

Additional Information

The presentation is available on the company website at www.hindwarehomes.com and contains forward-looking statements subject to risks and uncertainties. The company does not undertake to revise any forward-looking statements.