HP Adhesives Board Approves Q3 FY26 Results; Appoints New Independent Director
HP Adhesives reported Q3 FY26 results with standalone/consolidated PAT of ₹162.22 Lakhs. The Board approved the appointment of Dr. Chandra Sekhar Nettem as an Additional Independent Director for 5 years, effective Feb 12, 2026. It also noted the resignation of Director Mr. Ajeet Anant Walavalkar. A fire incident occurred on Jan 17, 2026, causing damage but no casualties.
The appointment of a new director and the approval of financial results are routine corporate actions. The fire incident, while significant, is being managed with insurance claims and mitigation measures, suggesting a contained impact.
The appointment of a new director and the approval of financial results are positive developments. However, the fire incident and the recognition of exceptional items introduce a neutral to slightly negative aspect.
HP Adhesives Limited (HPAL) announced the outcome of its Board Meeting held on February 12, 2026. The Board approved the Un-audited Standalone and Consolidated Financial Results for the Third Quarter and Nine Months ended December 31, 2025, along with the Limited Review Report.
In a significant development, the Board also approved the appointment of Dr. Chandra Sekhar Nettem as an Additional Director (Non-Executive, Independent) for a term of five years, effective from February 12, 2026, to February 11, 2031, subject to shareholder approval via postal ballot. Dr. Nettem brings expertise as a Business Architect and Advisor, with prior experience as Chief Operating Officer for Sentini FloPipes India Pvt. Ltd. and as Director (Business Development) for Aliaxis – Ashirvad Pipes.
The Board also took note of the resignation of Mr. Ajeet Anant Walavalkar as an Independent Director, effective February 12, 2026. Consequently, the Nomination & Remuneration Committee, Stakeholder’s Relationship Committee, and Corporate Social Responsibility Committee have been reconstituted with Dr. Chandra Sekhar Nettem joining as a member.
The financial results for the quarter ended December 31, 2025, showed a Profit After Tax (PAT) of ₹162.22 Lakhs on a standalone basis and ₹162.22 Lakhs on a consolidated basis. For the nine months ended December 31, 2025, standalone PAT was ₹934.97 Lakhs and consolidated PAT was ₹934.97 Lakhs.
The company also disclosed an exceptional item of ₹48.64 Lakhs for the quarter and ₹80.98 Lakhs for the nine months, primarily related to GST audit demands and a CESTAT order. Additionally, an incremental impact of ₹42.06 Lakhs due to new Labour Codes was recognized as an exceptional item.
Subsequent to the quarter end, a fire incident occurred on January 17, 2026, at the company's manufacturing facility in Raigad, Maharashtra, causing damage to property, plant, equipment, and inventory. Operations were temporarily disrupted but are being managed through alternate arrangements. The incident is treated as a non-adjusting event, and the financial impact will be recognized in the period of assessment of insurance claims.
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