Hindware Home Innovation Limited (HINDWAREAP) AI Stock Analysis

• Market Cap: ₹16.70B
• Dividend Yield: 0.15%
• Average Volume (3M): 21.88K
• Price to Earnings (P/E): 157.2
• Beta (1Y): 1.53
• Revenue Growth: -7.26%
• EPS Growth: -408.66%
• Country: IN
• Employees: 398
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 0.42
• Shares Outstanding: 83,646,355
• 10 Day Avg. Volume: 38,981
• 30 Day Avg. Volume: 21,882
• PEG Ratio: 0.06
• Price to Book (P/B): 2.03
• Price to Sales (P/S): 0.63
• P/FCF Ratio: -155.68
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.77
• Revenue Forecast (FY): ₹26.01B

• Rating: 48 Neutral
• Price Target: ₹198.00 ▼(-24.41% Downside)
• Action: Reiterated Date: 01/14/26
• Date: Action: Reiterated 01/14/26

Overall score is held back primarily by weak technical momentum (price below key moving averages with very low RSI/Stoch and negative MACD) and pressured fundamentals (negative profitability and deteriorating free cash flow with high leverage). Valuation provides limited support due to negative earnings and a low dividend yield.

Positive Factors

Healthy Gross Margin

A healthy gross margin provides a structural buffer against input-cost volatility and supports pricing flexibility. Even with weakening EBIT/EBITDA, sustained gross margin enables the company to protect gross profitability, fund product development and marketing, and recover operating leverage as revenue stabilizes.

Diversified Product Portfolio

A multi-category presence across bathroom fittings and kitchen appliances reduces single-category dependence and supports cross-selling via shared distribution. Structural demand for home fixtures and appliances helps produce more stable mid-term revenue streams and less cyclical exposure than niche players.

Rising Shareholders' Equity

An increase in equity strengthens the capital base and improves solvency metrics long-term. Growing equity provides capacity to absorb losses, supports external financing on better terms, and gives the firm flexibility to invest in distribution, product expansion, or deleveraging over the coming months.

Negative Factors

High Leverage

Elevated leverage increases interest expense and reduces financial flexibility, constraining investments and making the company more sensitive to margin shocks or rate rises. High debt limits the ability to pursue growth initiatives and raises refinancing risk over a 2–6 month horizon and beyond.

Declining Free Cash Flow

Negative and falling free cash flow undermines the company’s ability to self-fund working capital, capex, and debt servicing. Persistent weak cash generation forces reliance on external funding, elevates liquidity risk, and can restrict strategic investment or marketing needed to restore revenue momentum.

Profitability Deterioration

Sustained negative net margins and compressing operating margins indicate structural profitability issues, eroding retained earnings and limiting reinvestment. Continued margin pressure weakens competitive positioning and heightens the need for operational fixes to restore long-term earnings power.

Hindware Home Innovation Limited Business Overview & Revenue Model

Company Description

Hindware Home Innovation Limited engages in the consumer appliances, retail, and building products business in India. It offers chimneys, cooking range, food waste disposers, built-in microwaves, food sanitizers, built-in ovens, built-in hobs, cooktops, dishwashers, water purifiers and kitchen sinks; storage, instant, gas, heat pump water heaters; desert, personal, tower, window, IOT enabled, and foldable air coolers; water purifiers under the moonbow brand; ceiling fans; and hinges, ball bearing and excel bottom mounted drawer channels, and Ten, Uniplus, and Unilux drawer system and aerolift liftups. The company is also involved in the retail sale and distribution of wood furniture, soft furnishings, home decor, and accessories, as well as wall fashion, modular kitchens, wardrobes, decorative lightings, under the Evok brand. In addition, it sells and distributes building products consisting of sanitary ware, including water closets, wash basins, bidets, squatting pans, and urinals; faucets, such as showers, bathroom, kitchen, and sensor faucets, and thermostats; wellness products comprising bath-tubs, shower panels, shower enclosures, vanity, whirlpools, and steam generators; glazed vitrified, ceramic, full-body vitrified, super-slim, cladding, and parking tiles; plastic pipes and fittings, which include CPVC, UPVC, PVC, and SWR column pipes and overhead water storage tanks; and allied products, such as concealed cisterns, seat covers, and PVC cisterns. The company was formerly known as Somany Home Innovation Limited and changed its name to Hindware Home Innovation Limited in May 2022. Hindware Home Innovation Limited was incorporated in 2017 and is based in Gurugram, India.

How the Company Makes Money

Hindware Home Innovation Limited Financial Statement Overview

Summary

Financials are mixed but pressured: income statement shows profitability challenges (negative net profit margin and weakening EBIT/EBITDA margins) despite a healthy gross margin. Balance sheet leverage is high (elevated debt-to-equity), adding risk. Cash flow is the weakest area with declining/negative free cash flow growth and suboptimal cash conversion ratios.

Income Statement

Hindware Home Innovation Limited has shown fluctuating revenue growth with a decline in recent years. The company reported a negative net profit margin in the latest period, indicating profitability challenges. The gross profit margin remains healthy, although EBIT and EBITDA margins have weakened, signifying a drop in operational efficiency.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio, suggesting significant leverage, which may pose financial risks. Stockholders' equity has increased, but total debt remains substantial. The equity ratio indicates moderate financial stability, but high liabilities could impact future growth.

Cash Flow

Cash flow analysis shows declining free cash flow with negative growth, indicating potential liquidity issues. The operating cash flow to net income ratio and free cash flow to net income ratio are not optimal, highlighting concerns about cash management and operational efficiency.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	25.11B	25.23B	27.41B	28.24B	22.69B	17.47B
Gross Profit	9.38B	4.79B	5.39B	12.36B	4.25B	5.48B
EBITDA	1.58B	1.54B	2.75B	2.81B	3.05B	1.61B
Net Income	-729.10M	-682.90M	257.81M	570.90M	2.02B	548.43M
Balance Sheet
Total Assets	25.32B	25.28B	24.20B	23.03B	21.46B	10.39B
Cash, Cash Equivalents and Short-Term Investments	239.50M	252.60M	292.21M	91.99M	535.68M	332.45M
Total Debt	9.10B	8.89B	10.46B	9.58B	3.74B	2.42B
Total Liabilities	17.69B	17.42B	18.14B	17.20B	16.19B	7.09B
Stockholders Equity	7.53B	7.77B	5.98B	5.76B	5.26B	3.30B
Cash Flow
Free Cash Flow	42.60M	-101.40M	573.53M	251.90M	1.86B	2.06B
Operating Cash Flow	851.30M	1.92B	2.41B	2.21B	2.26B	2.34B
Investing Cash Flow	-796.10M	-2.15B	-2.19B	-7.05B	-1.24B	-516.20M
Financing Cash Flow	-192.90M	183.00M	-19.74M	4.67B	-831.69M	-1.78B

Hindware Home Innovation Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 261.95
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HINDWAREAP, the sentiment is Negative. The current price of 261.95 is above the 20-day moving average (MA) of 223.28, above the 50-day MA of 233.80, and below the 200-day MA of 289.02, indicating a bearish trend. The MACD of -9.19 indicates Positive momentum. The RSI at 32.91 is Neutral, neither overbought nor oversold. The STOCH value of 20.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HINDWAREAP.

Hindware Home Innovation Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CARYSIL	68 Neutral	₹22.38B	30.32	―	0.26%	11.21%	22.23%
BUTTERFLY	67 Neutral	₹11.30B	26.88	―	―	7.32%	―
TTKPRESTIG	64 Neutral	₹74.34B	64.27	―	0.97%	4.48%	-49.18%
IFBIND	63 Neutral	₹40.10B	66.01	―	―	12.08%	28.97%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
STOVEKRAFT	61 Neutral	₹16.74B	114.54	―	0.50%	7.89%	32.07%
HINDWAREAP	48 Neutral	₹16.70B	157.19	―	0.15%	-7.26%	-408.66%

Hindware Home Innovation Limited Corporate Events

Hindware Home Innovation Advances Composite Scheme of Arrangement with Creditor and Shareholder Meetings

Hindware Home Innovation Limited announced that meetings of the unsecured creditors of its subsidiary Hindware Limited, the unsecured creditors of Hindware Home Innovation, and its equity shareholders were duly convened on March 7, 2026, in Kolkata. These meetings were held pursuant to directions from the National Company Law Tribunal, Kolkata Bench, to consider and, if thought fit, approve a Composite Scheme of Arrangement among Hindware Home Innovation Limited, HHIL Limited, and Hindware Limited.

The scheme, framed under Sections 230 to 232 of the Companies Act, 2013, contemplates a corporate reorganization involving a demerged company, a resulting company, and a transferee company, aimed at restructuring shareholdings and creditor arrangements. The company has submitted summaries of the proceedings for each stakeholder meeting in line with SEBI listing obligations, signaling procedural progress toward implementing the proposed restructuring and providing greater clarity to creditors and shareholders on the planned corporate realignment.

Hindware Home Innovation Moves Ahead on Group Restructuring with Creditor Meeting for Subsidiary

Hindware Home Innovation Limited has announced that, following directions from the National Company Law Tribunal’s Kolkata Bench, an in‑person meeting of the unsecured creditors of its subsidiary Hindware Limited will be held on 7 March 2026 in Kolkata to consider and, if deemed appropriate, approve a Composite Scheme of Arrangement involving Hindware Home Innovation Limited as the demerged/remaining transferor company, HHIL Limited as the resulting company, and Hindware Limited as the transferee company. The company has set 30 September 2025 as the cut‑off date for determining voting entitlements of unsecured creditors, and has initiated circulation of the meeting notice and explanatory documents via electronic and physical means, signaling a key procedural step in advancing the group’s restructuring plan that could reshape inter-company arrangements and capital structure subject to creditor approval and regulatory compliance.

Hindware Home Innovation Sets March 7 Shareholders’ Meet on Composite Scheme of Arrangement

Hindware Home Innovation Limited has scheduled a physical meeting of its equity shareholders on 7 March 2026 in Kolkata to consider and approve, with or without modifications, a Composite Scheme of Arrangement involving Hindware Home Innovation Limited as the demerged/remaining transferor company, HHIL Limited as the resulting company, and Hindware Limited as the transferee company. Convened under directions of the National Company Law Tribunal’s Kolkata Bench and in accordance with the Companies Act, the meeting will determine shareholder approval for a restructuring that could reshape the group’s corporate structure and capital allocation, with voting rights based on a cut-off date of 30 September 2025 and detailed meeting documents made available to shareholders and on stock exchange and company websites.

Hindware Home Innovation Calls NCLT-Directed Meeting of Unsecured Creditors on Restructuring Scheme

Hindware Home Innovation Limited has called a physical meeting of its unsecured creditors on 7 March 2026 in Kolkata, as directed by the National Company Law Tribunal, Kolkata Bench, to consider and vote on a Composite Scheme of Arrangement involving Hindware Home Innovation Limited as the demerged/remaining transferor company, HHIL Limited as the resulting company, and Hindware Limited as the transferee company under the Companies Act, 2013. The company has set 30 September 2025 as the cut-off date for determining voting entitlements of unsecured creditors, and is circulating the notice, explanatory statement, and related documents to eligible creditors and publishing them on its website and stock exchange portals, marking a key procedural step in advancing its proposed group restructuring and securing creditor approval.

Hindware Home Innovation Gets NCLT Nod to Convene Meetings on Corporate Restructuring Scheme

Hindware Home Innovation Limited has received an order from the National Company Law Tribunal (NCLT), Kolkata Bench, directing the company, along with HHIL Limited and Hindware Limited, to convene meetings of shareholders and creditors to consider and approve a composite Scheme of Arrangement under Sections 230–232 of the Companies Act, 2013. The NCLT has also issued a corrigendum correcting the earlier scheduled meeting date for equity shareholders and unsecured creditors of the demerged company to 7 March 2026, while all other aspects of the prior order remain unchanged. The move is a procedural but important step in progressing the group’s planned restructuring through demerger and transfer of business undertakings among the Hindware entities, which could streamline the corporate structure and potentially sharpen business focus once the scheme is approved by stakeholders and subsequent regulatory requirements are fulfilled.