Huhtamaki IndiaNSE:HUHTAMAKI
Current view Q1 2027
Prints and laminates the pouches and wrappers for big FMCG brands. A new MD arrived January 2026 to cut unused product lines and lift margins, which have already doubled from 5% to ~8-10%, with ₹480 cr net cash at 1.8x book. Revenue has been flat seven years and volumes kept falling until last quarter, when they finally grew. But management refuses to guide on whether that continues, and returns are still only 12%.
Latest exchange filings last 5 · 5 after Q1 2027
- 11 Sep ’26Silvassa factory part gets occupancy certificate subject to Rs. 17,54,823 penalty on September 10, 2026. ↗
- 1 Sep ’26Huhtamaki India will close Baddi PS Labels plant by October 30, 2026; FY25 revenue contribution was INR 218.76 million. ↗
- 19 Aug ’26Ms. Akanksha Kandoi appointed Company Secretary and Compliance Officer effective August 24, 2026. ↗
- 19 Aug ’26Huhtamaki India appoints Akanksha Kandoi as Company Secretary and Compliance Officer from August 24, 2026. ↗
- 12 Aug ’26CRISIL reaffirmed Huhtamaki India’s Rs 88 crore bank facilities at Crisil AA-/Stable. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q1 2027
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q1 2027
| Metric | This year vs lastYoY · vs Q1 2026 | vs the quarter beforeQoQ, sequential · vs Q4 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +22.6% | +22.4% | −6.1% | +0.1% |
| Operating profit | ▲ +74.4% | +87.5% | +9.2% | −1.3% |
| EPS | ▲ +75.5% | +70.8% | +33.5% | +4.3% |
| PAT | ▲ +76.0% | +69.2% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +22.6%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Good67/100
Cheap, and growing fast. Profit per share grew 34% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹234 → ₹468 needs the P/E at 11× — it is 13× today. The rest would come from earnings growing as they have.
At ₹466 the price-tag on its earnings reaches the 26× it is being projected toward — the point where being cheap against that yardstick is used up.
Growth still unpaid, one leg weaker. Worth the concall read.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. There is no 5-year range on file for this company, so the comparison falls back to its average alone. This is a small-cap at ₹1,837 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 33.5% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Packaging · 6 of 51 listed
It earns 12% on its capital, fourth of 6, and it is the fourth most expensive of the 6 shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Huhtamaki India | ₹243 | 13.5× | ₹1,836 Cr | 12.0% | +76.8% | +22.5% |
| EPL Ltd | ₹240 | 18.8× | ₹7,697 Cr | 17.8% | −1.4% | +25.3% |
| AGI Greenpac | ₹735 | 12.9× | ₹4,755 Cr | 19.5% | +12.1% | +14.2% |
| Uflex | ₹654 | 6.8× | ₹4,724 Cr | 7.0% | +629.6% | +37.6% |
| TCPL Packaging | ₹3,859 | 29.1× | ₹3,511 Cr | 17.9% | +65.5% | +15.8% |
| Polyplex Corpn | ₹1,080 | 21.8× | ₹3,391 Cr | 0.9% | +571.4% | +29.6% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | yes — a little wider than 3 years earlier | operating margin 6% → 10% over 3 years |
|---|---|---|
| Did the profit turn into cash? | more than all of it — reserves released cash too | 120% last year, 130% over three · free cash flow ₹184 cr, positive in 4 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹145 cr — 0.11× its own equity (was 0.11×) |
| Is it being collected? | collection is steady | 82 days to collect, down 1 in a year · cash cycle 26 days |
| Who has been buying? | the promoters have held steady | promoters 67.7%, 67.7% → 67.7% over 2.8 years · FIIs 0.7% (−0.4) · DIIs 1.0% (+0.4) · shareholders 26,830 → 35,339 |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 12.0% · ROE 9.0% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
Against it
- 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.
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.