Hindware Home Innovation financials and balance sheet

NSE: HINDWAREAPBSE: 542905Consumer DurablesSmall Cap

Formerly Somany Home Innovation

₹162.26₹6.00 (3.57%)BSE ₹162.10

Share price at the NSE close on 23 Oct 2026. Previous close ₹168.26.

52-week range of traded prices to 23 Oct 2026

₹155.48Low, 23 Oct 2026₹390.00High, 11 Nov 2025

Market cap: ₹1,357 Cr1,192nd largest listed
P/E: Lossover the last 12 months
P/B: 1.8
Dividend yield: Nonein the last 12 months
ROE: −0.8%
ROE without one-offs: −0.5%
ROCE: 5.6%
Debt to equity: 0.95
Volume, NSE: 1,27,87741.7% delivered

7 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Hindware Home Innovation annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹2,873 Cr, year to Mar 2023A loss in 2 of the 7 years shown

Operating and net margin, per cent

Operating margin
Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue2,510
Materials and goods−1,372
Employee costs−406
Other expenses−534
Operating profit198
Depreciation−117
Other income+35
One-off items−53
Finance costs−70
Profit before tax−8.0
Tax+4.2
Joint ventures−36
Discontinued businesses+0.1
Net profit−39

What the company owns

Plant, investments and other assets₹1,380 Cr
Inventory₹614 Cr
Receivables₹420 Cr
Cash and bank₹33 Cr
Current investments₹5 Cr

What pays for it: net worth and liabilities

Net worth₹746 Cr
Borrowings₹709 Cr
Other liabilities₹670 Cr
Owed to suppliers₹327 Cr

Hindware Home Innovation business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them. A segment at a loss has no share of profit.Hindware Home Innovation segment results by quarter

Revenue by segment

₹2,511 CrTotal

Building Products₹2,193 Cr87.3% of total
Consumer appliances Business₹318 Cr12.7% of total

Profit by segment

Building Products₹117 Cr100.0% of total

Segment results by year

Consolidated, ₹ crore, years to March.

Building Products
Revenue, ₹ crore
1,161
1,262
1,795
2,316
2,355
2,171
2,193
Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
77
106
158
174
214
103
117
Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Consumer appliances Business
Revenue, ₹ crore
452
513
498
557
445
356
318
Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−9
19
10
9
−59
−37
−1
Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Others
Revenue, ₹ crore
0
0
0
0
0
0
0
Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
−1
0
0
0
0
0
0
Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	1,613	1,775	2,294	2,873	2,800	2,527	2,511
Company revenue, as in its results	1,613	1,775	2,294	2,873	2,800	2,523	2,510
Revenue	1,161	1,262	1,795	2,316	2,355	2,171	2,193
Revenue growth	–	8.7%	42.3%	29.0%	1.7%	−7.8%	1.0%
Profit	77	106	158	174	214	103	117
Profit growth	–	37.7%	49.5%	10.4%	22.9%	−52.0%	13.7%
Margin	6.6%	8.4%	8.8%	7.5%	9.1%	4.7%	5.3%
Return on capital	43.0%	44.2%	47.4%	45.3%	49.1%	17.4%	18.8%
Assets	613	623	1,578	1,781	1,925	2,120	2,134
Liabilities	434	384	1,245	1,397	1,489	1,527	1,511
Capital employed	179	239	333	385	436	593	623
Revenue	452	513	498	557	445	356	318
Revenue growth	–	13.5%	−2.9%	11.9%	−20.1%	−20.0%	−10.7%
Profit	−9	19	10	9	−59	−37	−1
Profit growth	–	–	−47.4%	−12.0%	–	–	–
Margin	−2.0%	3.7%	2.0%	1.6%	−13.3%	−10.4%	−0.4%
Return on capital	−15.0%	25.1%	9.8%	7.2%	−55.4%	−35.8%	−2.1%
Assets	362	391	474	438	430	316	252
Liabilities	301	316	373	317	324	212	192
Capital employed	62	75	100	121	107	104	60
Revenue	0	0	0	0	0	0	0
Profit	−1	0	0	0	0	0	0
Margin	–	−480.0%	–	–	–	–	–
Return on capital	−88.9%	−37.5%	−84.2%	−31.1%	−51.7%	−23.2%	−16.1%
Assets	1	1	0	0	0	1	1
Liabilities	0	0	0	0	0	0	0
Capital employed	1	1	0	0	0	1	1
	–	–	0	–	–	–	–
Profit	–	–	101	–	–	–	–
Assets	–	–	0	–	–	–	–
Liabilities	–	–	0	–	–	–	–

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March.Hindware Home Innovation quarterly results

₹ crore	Mar 2020Filed 24 Jun	Mar 2021Filed 27 May	Mar 2022Filed 27 May	Mar 2023Filed 24 May	Mar 2024Filed 29 May	Mar 2025Filed 10 Jun	Mar 2026Filed 19 May
Revenue from operations	1,613	1,775	2,294	2,873	2,800	2,523	2,510
	1,525	1,632	2,119	2,627	2,562	2,380	2,313
Materials and goods bought	1,074	1,194	1,565	1,637	1,530	1,410	1,372
Employee costs	177	181	231	402	430	426	406
Other expenses	273	257	323	587	602	543	534
Operating profit before depreciation	88	143	175	246	238	143	198
Operating margin	5.5%	8.1%	7.6%	8.6%	8.5%	5.7%	7.9%
Materials, % of revenue	66.6%	67.3%	68.2%	57.0%	54.6%	55.9%	54.7%
Employee costs, % of revenue	11.0%	10.2%	10.1%	14.0%	15.4%	16.9%	16.2%
Other expenses, % of revenue	17.0%	14.5%	14.1%	20.4%	21.5%	21.5%	21.3%
Depreciation and amortisation	46	39	39	101	123	123	117
Operating profit after depreciation	42	104	135	145	115	20	80
Other income	24	18	29	35	37	41	35
Finance costs	33	29	20	77	95	89	70
Profit before one-off items and tax	33	92	144	103	57	−28	45
One-off items	0	0	101	0	0	−30	−53
Profit before tax	33	92	245	103	57	−58	−8
	10	38	42	37	20	−7	−4
Current tax	18	32	45	31	36	10	13
Deferred tax	−8	5	−3	6	−16	−17	−17
Share of profit of joint ventures and associates	–	–	−2	−9	−9	−18	−36
Profit from discontinued businesses	–	–	–	–	–	1	0
	23	55	202	58	28	−68	−39
Belonging to the company's shareholders	23	55	202	57	26	−68	−40
Belonging to outside owners of subsidiaries	0	0	0	0	2	0	0
Other comprehensive income	0	2	1	−1	0	1	−1
Total comprehensive income	23	57	202	57	28	−67	−40
Net margin	1.4%	3.1%	8.8%	2.0%	1.0%	−2.7%	−1.6%
Net margin without joint ventures and associates	–	–	8.9%	2.3%	1.3%	−2.0%	−0.1%

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2020Filed 24 Jun	Mar 2021Filed 27 May	Mar 2022Filed 27 May	Mar 2023Filed 24 May	Mar 2024Filed 29 May	Mar 2025Filed 10 Jun	Mar 2026Filed 19 May
	274	330	526	583	607	786	746
	274	330	526	576	598	777	737
Share capital	14	14	14	14	14	17	17
Reserves	260	315	512	561	583	760	720
Belonging to outside owners of subsidiaries	0	0	0	7	9	9	9
	326	184	143	712	837	720	709
Repayable after a year	48	43	11	328	339	355	253
Repayable within a year	278	142	133	384	498	365	456
	581	580	1,345	1,110	1,216	1,147	1,245
Trade payables	112	144	252	297	312	407	327
Other financial liabilities	151	213	868	329	310	277	375
Other liabilities	32	63	84	94	93	89	84
Provisions	2	3	8	6	4	5	4
Tax owed	6	16	–	0	–	4	0
	154	128	274	609	597	573	449
Other financial liabilities	98	76	248	263	238	199	178
Other liabilities	2	1	4	5	6	4	5
Provisions	7	8	12	13	15	15	13
Liabilities going with businesses held for sale	–	–	–	–	–	22	11
	1,010	1,039	2,146	2,303	2,420	2,528	2,452
Held for sale or for a demerger	–	–	–	–	–	4	3
	249	216	957	1,105	1,208	1,260	1,234
Plant in use, after depreciation	188	156	490	653	701	698	839
Plant being built	5	10	58	36	54	209	94
Intangible assets	2	1	3	2	2	3	3
Goodwill	0	0	2	2	2	2	2
Intangible assets being developed	0	0	1	0	1	0	0
Property held to earn rent	0	0	87	0	0	0	0
Investments	0	0	0	88	104	73	34
Loans given	6	6	0	0	0	0	0
Other financial assets	0	0	9	9	11	12	12
Deferred tax	42	37	38	36	53	73	89
Other assets	6	6	269	279	279	189	161
	760	823	1,188	1,197	1,212	1,265	1,215
Inventories	310	280	675	684	589	601	614
Trade receivables	359	408	306	378	453	508	420
Cash and cash equivalents	3	8	26	9	29	25	33
Other bank balances	0	0	0	0	0	0	0
Current investments	0	26	27	0	0	0	5
Loans given	0	1	0	0	0	0	0
Other financial assets	10	0	18	14	13	16	6
Other assets	78	101	136	112	127	115	137
Net debt	323	151	90	702	807	695	670

Borrowings are counted again inside the liabilities due within a year and after a year.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021Filed 27 May	Mar 2022Filed 27 May	Mar 2023Filed 24 May	Mar 2024Filed 29 May	Mar 2025Filed 10 Jun	Mar 2026Filed 19 May
	234	226	221	241	192	258
	257	286	257	281	195	274
	119	108	24	41	17	67
Receivables	−52	78	−80	−97	−75	63
Inventories	30	−88	−8	94	−12	−6
Payables	150	115	77	38	93	−10
Other working capital	−9	3	36	5	11	21
Tax paid	−22	−61	−36	−41	−3	−16
Capital spending	28	40	196	183	202	128
Free cash flow	206	187	25	57	−10	130
	−52	−124	−705	−219	−215	−129
Plant and property sold	1	0	1	2	4	2
Interest received	1	0	0	0	0	1
	−178	−83	467	−2	18	−120
Borrowings raised	0	0	457	120	164	47
Borrowings repaid	−3	−35	−56	−86	−123	−134
Interest paid	−30	−12	−54	−76	−80	−67
Lease payments	−8	−11	−29	−31	−38	−34
Dividends paid	1	6	0	4	3	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	250	0
Net change in cash	5	19	−17	20	−4	8

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the year to Mar 2020.

Consolidated, ₹ per share, years to March.Hindware Home Innovation dividend history

₹ per share	Mar 2020Filed 24 Jun	Mar 2021Filed 27 May	Mar 2022Filed 27 May	Mar 2023Filed 24 May	Mar 2024Filed 29 May	Mar 2025Filed 10 Jun	Mar 2026Filed 19 May
Earnings per share	₹3.20	₹7.59	₹27.90	₹7.96	₹3.56	−₹8.78	−₹4.74
Diluted earnings per share	₹3.20	₹7.59	₹27.90	₹7.96	₹3.56	−₹8.78	−₹4.74
Dividend per share	₹0.15	₹0.30	₹0.50	₹0.50	₹0.40	–	–
Book value per share	₹37.93	₹45.63	₹72.80	₹79.63	₹82.69	₹92.90	₹88.09
Dividend payout	4.7%	4.0%	1.8%	6.3%	11.2%	–	–
Shareholder yield	–	0.1%	0.2%	0.0%	0.1%	−14.1%	0.0%
Market cap at the year end (₹ crore)	491	1,963	2,625	2,569	2,723	1,752	1,462

Ratios

Consolidated, years to March.Hindware Home Innovation PE ratio and valuation

Ratio	Mar 2020Filed 24 Jun	Mar 2021Filed 27 May	Mar 2022Filed 27 May	Mar 2023Filed 24 May	Mar 2024Filed 29 May	Mar 2025Filed 10 Jun	Mar 2026Filed 19 May
Revenue growth	–	10.0%	29.2%	25.3%	−2.5%	−9.9%	−0.5%
Operating profit growth	–	62.3%	22.2%	41.0%	−3.5%	−39.8%	38.1%
Net profit growth	–	137.3%	267.8%	−71.5%	−52.0%	–	–
Earnings per share growth	–	137.2%	267.6%	−71.5%	−55.3%	–	–
	8.4%	18.2%	47.1%	10.4%	4.4%	−9.9%	−5.2%
	–	9.7 pts	29.0 pts	−36.7 pts	−6.0 pts	−14.3 pts	4.7 pts
From the net margin	–	9.7 pts	33.5 pts	−36.5 pts	−5.6 pts	−17.3 pts	4.1 pts
From asset turnover	–	1.5 pts	−8.7 pts	−1.1 pts	−0.4 pts	1.8 pts	0.1 pts
From borrowing	–	−1.6 pts	4.2 pts	0.8 pts	0.0 pts	1.2 pts	0.5 pts
Return on capital employed	7.0%	20.2%	20.2%	11.2%	7.9%	1.4%	5.5%
Cash conversion	–	427.6%	112.1%	383.6%	871.3%	–	–
Interest cover	1.3	3.5	6.6	1.9	1.2	0.2	1.1
Debt to equity	1.19	0.56	0.27	1.22	1.38	0.92	0.95
Receivable days	81	84	49	48	59	73	61
Inventory days	105	86	158	152	141	155	163
Payable days	38	44	59	66	74	105	87
Cash conversion cycle, days	149	126	147	134	125	124	137
Working capital days	103	72	−12	59	61	66	56
Asset turnover	1.60	1.73	1.44	1.29	1.19	1.02	1.01
Assets per rupee of net worth	3.68	3.39	3.72	4.04	4.02	3.60	3.29
Sales per rupee of plant	8.58	11.40	4.68	4.40	3.99	3.61	2.99
Capital spending to depreciation	–	0.72	1.01	1.94	1.49	1.65	1.09
Plant being built, % of plant in use	2.6%	6.7%	11.8%	5.5%	7.7%	29.9%	11.1%

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: −1.6%
Cash from operations against operating profit: 130.6%

Measure	5 years	3 years
Revenue growth, yearly rate	7.2%	−4.4%
Return on equity, average	9.3%	−3.6%
Return on capital employed, average	9.3%	4.9%
Operating margin, average	7.6%	7.3%
Net margin, average	1.5%	−1.1%
Asset turnover, average	1.19	1.07
Cash conversion cycle, days, average	134	129
Interest cover, average	2.2	0.9
Debt to equity, average	0.95	1.08

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	1,138	691	258
Cash from investing	−1,391	−563	−129
Cash from financing	280	−104	−120
Capital spending	748	513	128
Dividends paid	12	7	0
Shares bought back	0	0	0
Shares issued for cash	250	250	0
Borrowings raised	788	331	47
Borrowings repaid	433	343	134

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	7	6	6	3	6
Altman Z-scorePublished threshold 1.81	2.79	4.46	2.70	2.79	2.60	2.12	2.02
Beneish M-scorePublished threshold −1.78	–	−3.10	−1.31	−3.00	−2.74	−2.68	−3.25
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	−12.50	6.26	24.35	0.24	−1.84	−6.74
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	2.17	2.40	38.05	–
Receivables growth less revenue growthOur threshold 0 percentage points	–	3.45	−54.17	−1.83	22.60	21.90	−16.88
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	−20.81	109.97	−3.40	−7.24	9.76	4.90
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	0.72	2.30	−0.93	0.48	−0.38	0.48
Assets under construction, years of additionsOur threshold 2 years of additions	–	1.49	0.15	0.14	0.31	1.74	0.36
Effective tax ratePublished threshold 17.16 per cent	30.33	40.66	17.02	35.46	35.23	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	−7.88	0.44	−36.55	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
8 Apr 2026	CARE Ratings Limited (opens in a new tab)	Fund-based - LT-Cash CreditLong-term scale	CARE BBB+ (Rating Watch with Developing Implications)Review, Downgrade		159
8 Apr 2026	CARE Ratings Limited (opens in a new tab)	Non-fund-based - ST-BG/LCShort-term scale	CARE A2 (Rating Watch with Developing Implications)Review, Downgrade		110

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.