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Huhtamaki India Ltd (HUHTAMAKI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509820 NSE: HUHTAMAKI Packaging | Small Cap | Huhtamaki India Share Price

₹199.15 5.30 (2.73%)

As on 24-Jun'26 16:59

Huhtamaki India Ltd (HUHTAMAKI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 509820 NSE: HUHTAMAKI Packaging | Small Cap | Huhtamaki India Share Price

₹199.15 5.30 (2.73%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,504 Cr.
Current Price
₹199.2
52-Week Low / High
₹149 / 272
TTM EPS
₹15.6
TTM Sales
₹2,390 Cr.
Book Value per Share
₹174.1
P/E Ratio
12.79
Higher than its 5-year historical median
Industry PE
20.6
Price to Book (P/B)
1.14
Lower than its 5-year historical median
Price to Sales (P/S)
0.63
Lower than its 5-year historical median
EV/EBITDA
5.48
Lower than its 5-year historical median
Dividend Yield
1%
Profitability Efficiency
Return on Equity (ROE)
9.54%
Underperforms industry median
Return on Capital Employed (ROCE)
13.07%
In line with industry median
Return on Assets (ROA)
4.57%
Operating Profit Margin
7.8%
Net Profit Margin
4.78%
Gross Profit Margin
8.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-2.05%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
70.48%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
34.32%
Asset Quality
Promoter Holding
67.73%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,299 Cr.
Equity
₹15.1 Cr.
Face Value
₹2
All Time Low / High
₹7.20 / 451.50

Huhtamaki India stock performance

Key Ratios
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Check Before You Invest

Valuation

Undervalued

Price Trend

Strong
Q.1 Is Huhtamaki India Ltd a good quality company?
Huhtamaki India Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Huhtamaki India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Huhtamaki India Ltd vs industry peers?
Huhtamaki India Ltd revenue CAGR is 0.05%, compared to the industry median CAGR of 1.27%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Huhtamaki India Ltd?
Promoters hold 67.73% of the Huhtamaki India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Huhtamaki India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -4.2% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Huhtamaki India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
ROCE % 17.9%15.6%16.1%23.2%14.6%-0.4%8.1%43%10.2%13.1%-
Value Creation
Index
0.30.10.20.70.0-1.0-0.42.1-0.3-0.1-

Growth Parameters

Sales 2,1812,1312,3692,5992,4632,6252,9832,5492,5212,4692,390
Sales YoY Gr.--2.3%11.2%9.7%-5.2%6.6%13.6%-14.5%-1.1%-2.1%-
Adj EPS 11.58.6421.813.1-0.56.219.4814.215.6
YoY Gr.--25.1%-53.8%445.4%-40%-103.6%NA212.6%-58.8%77.5%-
BVPS (₹) 69.571.872.791.5100.493.999.4151.7157.4170.6174.1
Adj Net
Profit
83.965.330.216498.7-3.546.914760.3107118
Cash Flow from Ops. 16696101285169-27.7133274142238-
Debt/CF from Ops. 2.64.2411.5-12.62.70.70.70.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 1.4%0.1%-6.1%-2.1%
Adj EPS 2.3%1.7%31.7%77.5%
BVPS10.5%11.2%19.8%8.4%
Share Price -3.6% -7.4% -10.1% -9.1%

Key Financial Parameters

Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Return on
Equity %
15.312.35.526.213.5-0.56.415.45.28.69
Op. Profit
Mgn %
11.510.59.411.39.84.25.47.64.67.88
Net Profit
Mgn %
3.93.11.36.34-0.11.65.82.44.34.9
Debt to
Equity
0.90.80.70.40.30.50.50.20.10.1-
Working Cap
Days
8212612712313418020523122922597
Cash Conv.
Cycle
2846534847494951443954

Profit And Loss

(All Figures are in Crores.)
PARTICULARSDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales2,1812,1312,3692,5992,4632,6252,9832,5492,5212,469
Operating Expenses + 1,9311,9112,1462,3052,2282,5152,8252,3562,4092,278
Manufacturing Costs152155161174193203222219222212
Material Costs1,4671,4281,6081,7281,6121,8722,1841,7371,7401,630
Employee Cost 194209235252276258254255254259
Other Costs 117119142151147183166145193177
Operating Profit 250220223294234110158193112192
Operating Profit Margin (%) 11.5%10.3%9.4%11.3%9.5%4.2%5.3%7.6%4.5%7.8%
Other Income + 181417178917183935
Exceptional Items -30000-310370311
Interest 39334123272833311817
Depreciation 93858587989286494752
Profit Before Tax 133115114202118-3256500117158
Tax 5251793222-96902940
Profit After Tax 82643517096-235041088118
PAT Margin (%) 3.7%3.0%1.5%6.5%3.9%-0.9%1.7%16.1%3.5%4.8%
Adjusted EPS (₹)11.28.44.622.512.7-3.06.654.211.615.6
Dividend Payout Ratio (%)26.80%35.60%65%22.20%23.60%-33.30%30.40%9.20%17.20%12.80%

Valuation of Huhtamaki India - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25

Equity and Liabilities

Shareholders Fund + 5055425496917597107511,1461,1891,289
Share Capital 15151515151515151515
Reserves 4915275346767446947361,1311,1741,274
Debt +408394400269246299363200100100
Long Term Debt408394390102125200200200100100
Short Term Debt00916712199163000
Minority Interest0000000000
Trade Payables326365362430410574478467478454
Others Liabilities 188123135118161727667784793763
Total Liabilities 1,4271,4251,4461,5081,5752,3102,2592,5972,5602,607

Fixed Assets

Net Fixed Assets +465437518486561537479483598604
Gross Block5576157788169681,0301,0021,0241,1601,195
Accumulated Depreciation93177261329408493523541562591
CWIP 22481743351314035
Investments 1951372161181080151194
Inventories183192212182229348298270250206
Trade Receivables463527570618534629659551570554
Cash Equivalents 31454845673243312176299
Others Assets 898573107150720745770774715
Total Assets 1,4271,4251,4461,5081,5752,3102,2592,5972,5602,607

Cash Flow

(All Figures are in Crores.)
PARTICULARSDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash Flow From Operating Activity + 16696101285169-28133274142238
PBT 133115114202118-156500117158
Adjustment 12011112194115113119-3233057
Changes in Working Capital -27-80-6149-20-94-29123-914
Tax Paid -60-49-73-60-44-15-13-2749
Cash Flow From Investing Activity + -05-30-88-73-56-9040-77-156
Capex -24-62-63-55-43-76-91338-40-54
Net Investments 125731-33-30181-246-30-112
Others 121021121-52-710
Cash Flow From Financing Activity + -150-87-68-200-7449-32-211-161-36
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -41-30-12-2892112300-1000
Interest Paid -34-29-38-42-23-25-32-30-19-16
Dividend Paid -24-28-27-27-23-23-8-15-38-15
Others -51-09158-49-278-166-5-5
Net Cash Flow 16133-322-3511102-9646

Financial Ratio

PARTICULARSDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Ratios
ROE (%)14.9712.156.3927.4113.24-3.096.843.27.549.54
ROCE (%)17.8715.6316.1223.2314.59-0.388.144310.2113.07
Asset Turnover Ratio1.741.561.661.771.611.361.321.060.980.96
PAT to CFO Conversion(x)2.021.52.891.681.76N/A2.660.671.612.02
Working Capital Days
Receivable Days52.608183.8082.9084.7080.2078.1085.6080.7082.50
Inventory Days20.6030.6030.9027.5030.2039.7039.1040.2037.4033.40
Payable Days59.5088.3082.5083.609595.9087.9099.4099.20104.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Huhtamaki India Ltd FAQs

The current trading price of Huhtamaki India on 24-Jun-2026 16:59 is ₹199.2.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Jun-2026 the market cap of Huhtamaki India stood at ₹1,504 Cr

The latest P/E ratio of Huhtamaki India as of 23-Jun-2026 is 12.79.

The latest P/B ratio of Huhtamaki India as of 23-Jun-2026 is 1.14.

The 52-week high of Huhtamaki India is ₹272.4 and the 52-week low is ₹148.9.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Huhtamaki India is ₹2,390 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Huhtamaki India Ltd is a good quality company.

The key valuation ratios of Huhtamaki India Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Huhtamaki India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Huhtamaki India Ltd

Huhtamaki India Ltd. is a leading provider of primary consumer packaging & decorative labelling solutions in India, and part of Huhtamaki Oyj, a Finnish-based global food packaging major.

Packing memorable experiences together with its customers and partners since 1935, today the company has a total solutions company with a Pan-India presence, backed by 18 manufacturing sites and 5 customer support centers. The acquisitions and subsequent mergers of Webtech Labels Pvt Ltd.  & Positive Packaging Industries Ltd., as well as the acquisition of the India operations of Ajanta Labels have strengthened HPPL’s leadership in flexible and labelling solutions.

With a passion to protect what is good, it offers unique pack designs and formats through a comprehensive portfolio of flexible packaging solutions. Its solutions include barrier and recyclable laminates, specialized pouching like shaped, 5 and 6 panel pouches, thermoforms, decorative labels, digitally printed laminates for pack personalization and tube laminates.

Catering to both, domestic as well as global demand, its tube laminates are designed for segments such as food, oral care, skin care, pharma and other non-food items. Its leadership in labels is built on offerings across all modern technologies such as shrink sleeves, pressure sensitive labels, metallised labels, heat transfer, in-mould and wrap-around labels. It even offers end-to-end solutions through shrink tunnels and applicators.

For the company, packaging is so much more than just what goes around a product. It’s about building brands, opening new opportunities in new markets and protecting reputations as much as products. That’s why the company has invested for the long-term, to help its customers as they develop and grow. It leverages its rich experience and strong technical capabilities to help brands serve more packaging convenience, personalisation and sustainability and keep pace with rapid change. As specialists of flexible packaging, its purpose is to help great products reach more people, more easily.

Business area of the company

The company is a global leader in sustainable packaging solutions, with more than a 100-year legacy and Nordic heritage. The company ensures hygiene and safety of food & beverages by fulfilling packaging needs that help in preserving the food and increase shelf life. It keeps food & beverages edible for longer. Thereby, reducing food waste while providing access to affordable food for consumers, wherever they are in the world. It also develops fit-for-purpose packaging integral to industries like health care, personal & home care, pet care and other nonfood solutions. To this end, it is material positive, choosing the right packaging materials based on their functionality and full-life cycle, making evidence-based decisions to drive the circular economy. The company’s product portfolio also includes tube laminates, making it a partner of choice for beauty care, oral care and the pharma industry. It brings in innovation in design through its labeling solutions portfolio.

Products range

  • Food packaging
  • Beverages
  • Petfood
  • Tube laminates
  • Health care
  • Personal care & household
  • Labels
  • Other specialties
  • Recyclable solutions

Awards and recognitions

  • 2019: Dow Packaging Innovation Award for Syngenta bag-in-bag pouch and Akulon barrier and drop resistant bulk bag.
  • 2019: India’s Most Trusted Companies Award 2019.
  • 2019: IFCA Star Awards for Myst recyclable paper-based air-freshener pack; Bisleri two-faced jar label; Zero-stain embossed cube wraps; Easter limited-edition shampoo pack; and Royal Khajoor shaped pouch.
  • 2019: SIES SOP Star Awards for Syngenta bag-in-bag pouch; Akulon recyclable and drop-resistant bulk bag; ID Coffee Decoction profile pouch; and Akulon barrier and drop-resistant bulk bag.
  • 2019: 14th National Awards for Excellence in Printing Ferrero Banderolla and Royal Khajoor shaped pouch.
  • 2019: Asian Packaging Excellence Awards for Cornetto embossed cone sleeves and Meera registered holo sachet.
  • 2020: The Economic Times Polymers Awards for Recyclable see-through snack pack.
  • 2020: SIES SOP Star Awards for Sticker-in-laminate and Alu-free retortable easy peel lid.
  • 2020: The Economic Times Polymers Awards for Recyclable see-through snack pack.
  • 2020: World Star Awards for Meera registered holograms; ID ‘Do it Yourself’ Vada batter pouch; and Syngenta bag-in-bag pouch.
  • 2021: World Star Awards for High barrier bulk bag with extreme drop resistance; Recyclable mono-paper air-fragrance pocket; Alu-free retort and microwave-safe easy-peel lid; Coconut paste bottoms up pouch; and KitKat Celebreak glow-in-dark pack.
  • 2021: SIES SOP Star Awards for Sticker in a laminate for brand promotions and Alu-free retort and microwave-safe easy-peel lid.
  • 2021: IFCA Star Awards 2021 for Sticker in a laminate for brand promotions; Coconut paste bottoms-up pouch; Interactive both-side printed flow-wrap; and KitKat Celebreak glow-in-dark pack.
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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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