Risk Intelligence
Resin Price Volatility in Pipes
View Risks →Hindware Home Innovation reported a solid Q3 FY26 with consolidated revenue of ₹640 crore (+8% YoY) and EBITDA of ₹52 crore (+38% YoY), driven by strong performance in bathware (14% revenue growth) and consumer appliances (21% growth).
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Hindware Home Innovation reported a solid Q3 FY26 with consolidated revenue of ₹640 crore (+8% YoY) and EBITDA of ₹52 crore (+38% YoY), driven by strong performance in bathware (14% revenue growth) and consumer appliances (21% growth). EBITDA margin expanded 210 bps YoY to 8.1%, aided by premiumization and cost controls. The pipes business faced headwinds from resin price volatility but expects recovery with the new Rudrapur plant now operational. Management guided for 15-20% CAGR in kitchen appliances and 12-15% volume growth in pipes. Key risks include sustained raw material inflation and competitive pressures in the pipes segment.
Resin Price Volatility in Pipes
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Read Transcript →Bathware segment grew 14% YoY in Q3, driven by premiumization and market share gains.
Consumer appliances revenue grew 21% YoY, led by kitchen appliances focus.
January 2026 saw 30% volume growth in pipes, indicating restocking and demand recovery.
Premium products constituted 40% of bathware Q3 revenue, supporting margin improvement.
Management expects 15-20% CAGR in kitchen appliances over the next 2-3 years, driven by focused strategy.
Sharp fluctuations in resin prices impacted pipes realizations and volumes; stabilization is recent but not guaranteed.
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