HP Adhesives Q3 FY26 Results: Profit dips to ₹162.22 Lakh, Appoints New Director
HP Adhesives reported a consolidated profit after tax of ₹162.22 Lakh for Q3 FY26. The company appointed Dr. Chandra Sekhar Nettem as an Additional Independent Director for five years. Mr. Ajeet Anant Walavalkar resigned as an Independent Director. A fire incident occurred on January 17, 2026, impacting operations.
The appointment of a new director and the resignation of an existing one are significant corporate governance events. The fire incident, while impactful, is being managed with mitigation measures and insurance claims.
The profit for the quarter has significantly decreased compared to the same period last year, and a fire incident has caused operational disruptions.
HP Adhesives Limited (HPAL) has issued a clarification regarding its Board Meeting held on February 12, 2026. The company has submitted the Limited Review Report for its standalone financial results for the quarter ended December 31, 2025, along with the UDIN of the Auditor, after rectifying an issue with the ICAI UDIN portal. Additionally, HPAL has corrected a clerical error in the disclosure concerning the resignation of Mr. Ajeet Anant Walavalkar, an Independent Director, confirming the effective date as February 12, 2026. The company has also approved the Unaudited Standalone and Consolidated Financial Results for the third quarter and nine months ended December 31, 2025.
During the Board Meeting, Dr. Chandra Sekhar Nettem (DIN: 10646814) was appointed as an Additional Director (Non-Executive, Independent) for a term of five years, effective February 12, 2026, subject to shareholder approval. A postal ballot notice will be sent to shareholders for this appointment.
The Board also took note of the resignation of Mr. Ajeet Anant Walavalkar as an Independent Director, effective February 12, 2026. Consequently, he has ceased to be a member of the Nomination & Remuneration Committee, Stakeholder’s Relationship Committee, and Corporate Social Responsibility Committee. The Board has reconstituted these committees with effect from February 12, 2026, with Dr. Chandra Sekhar Nettem joining as a member.
The financial results for the quarter ended December 31, 2025, show a consolidated profit after tax of ₹162.22 Lakh, a decrease compared to ₹420.72 Lakh in the same quarter of the previous year. For the nine months ended December 31, 2025, consolidated profit after tax stood at ₹934.97 Lakh. Standalone profit after tax for the quarter ended December 31, 2025, was ₹149.91 Lakh, down from ₹396.48 Lakh in the prior year's corresponding quarter. For the nine months ended December 31, 2025, standalone profit after tax was ₹926.96 Lakh.
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 the company has initiated standby production and mitigation measures. The incident is treated as a non-adjusting event, and the financial impact will be recognized in the period of occurrence. The company has lodged an insurance claim.
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