Hindware Home Innovation Q1 revenue rises 18 per cent to Rs 625 crore

MUMBAI: Hindware Home Innovation has given its first-quarter numbers a makeover, with revenue moving up even as the company works its way out of the red. Consolidated revenue from operations rose 17.7 per cent year-on-year to Rs 625.25 crore in Q1 FY27, compared with Rs 531.16 crore in the same quarter last year.

The company’s consolidated total income stood at Rs 628.98 crore for the quarter ended 30 June 2026, up from Rs 540.16 crore a year earlier. However, EBITDA slipped to Rs 53.85 crore from Rs 57.75 crore, indicating that the stronger topline did not translate into an equivalent improvement in operating earnings.

Hindware’s consolidated profit after tax from continuing operations stood at Rs 4.35 crore, compared with a loss of Rs 29.20 crore in Q1 FY26. Profit attributable to owners of the company was Rs 4.33 crore, against a loss of Rs 29.12 crore in the year-ago period.

The sharp swing in the bottom line was aided partly by the high base of exceptional charges in the previous year. Q1 FY26 had included an exceptional charge of Rs 49.49 crore, while the latest quarter recorded an exceptional reversal of Rs 0.83 crore in the consolidated accounts.

The building products business remained the biggest contributor, generating segment revenue of Rs 540.26 crore, up from Rs 459.96 crore a year earlier. The segment also reported profit of Rs 23.56 crore before tax and interest, broadly in line with Rs 23.49 crore in Q1 FY26.

Consumer appliances also gained momentum, with segment revenue rising to Rs 85.08 crore from Rs 71.96 crore, an increase of around 18.2 per cent. The business, however, remained close to break-even, reporting segment profit of Rs 0.34 crore compared with Rs 4.78 crore in the year-ago quarter.

The numbers also reflect a change in Hindware’s corporate structure. During the quarter, Hintastica Private Limited moved from being a 50:50 joint venture with France’s Atlantic Societe Française de Developpement Thermique to a subsidiary of Hindware Home Innovation.

Hindware fully subscribed to its Rs 15 crore share of Hintastica’s rights issue on 4 June 2026, taking its stake to 96.6 per cent after Atlantic did not participate. It subsequently acquired Atlantic’s remaining 3.4 per cent stake on 30 June, making Hintastica a consolidated subsidiary from 4 June 2026.

The company had earlier decided to sharpen its focus on its core kitchen appliance business by exiting high-loss categories including air purifiers, water purifiers, furniture fittings, fans and non-e-commerce air coolers. That exercise resulted in a net exceptional charge of Rs 44.28 crore for FY26, after an initial Rs 49.49 crore provision in Q1 FY26 was partly offset by asset disposal reversals of Rs 0.61 crore in Q2 and Rs 4.60 crore in Q3.

On a standalone basis, revenue from operations increased to Rs 82.62 crore in Q1 FY27 from Rs 71.22 crore a year earlier. Standalone profit after tax was Rs 0.66 crore, compared with a loss of Rs 28.84 crore in Q1 FY26.

Hindware’s consolidated balance sheet showed total segment assets of Rs 2,466.62 crore at the end of June, compared with Rs 2,451.78 crore at the end of March 2026. Building products accounted for Rs 2,092.59 crore of those assets, while consumer appliances accounted for Rs 307.22 crore.

The company is also progressing with a Composite Scheme of Arrangement approved by its board in March 2025. The scheme, involving the demerger of the Consumer Products Business into HHIL Limited and amalgamation of the remaining transferor company into Hindware Limited, has received approvals from BSE, NSE, shareholders and unsecured creditors, but remains subject to final NCLT sanction and other statutory approvals.

The Q1 results were approved by Hindware Home Innovation’s board on 12 August 2026 after review by the Audit Committee. The statutory auditor’s limited review found nothing that came to its attention indicating a material misstatement in the consolidated or standalone results.