Huhtamaki India (509820) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 increased by 23.1% year-over-year to Rs. 7,286 million, driven by balanced contributions from price, volume, and product mix, with EBIT margin at 8.5%.

• EBITDA and EBIT rose by 55.1% and 71.8% year-over-year, reflecting operational efficiencies and disciplined capital allocation.

• Growth was broad-based across domestic and export markets, with each contributing similarly to the top-line increase.

• Management maintained focus on profitable growth, selective market participation, and customer-centric innovation despite non-recurring charges and geopolitical challenges.

• H1 2026 net sales were Rs. 13,222 million, up 11.6% year-over-year, with EBIT margin at 7.6%.

Financial highlights

• Q2 2026 net sales: Rs. 7,286 million (23.1% growth); H1 2026: Rs. 13,222 million (11.6% growth).

• Q2 2026 EBITDA: Rs. 764.4 million (10.5% margin), up from 8.3% last year.

• Q2 2026 EBIT: Rs. 621.6 million (8.5% margin), up from 6.1% last year.

• Q2 2026 profit before tax (excluding exceptional items): Rs. 587.9 million; net profit: Rs. 437.3 million.

• Q2 2026 EPS (excluding exceptional items): Rs. 5.79; H1 2026: Rs. 9.18.

Outlook and guidance

• Management expects continued market growth, especially with the upcoming festival season, and remains focused on profitable growth, operational efficiency, and sustainability.

• Volume growth is expected to align with market trends, focusing on selective product and customer categories.

• Margins are expected to remain healthy, with ongoing productivity and efficiency improvements.

• Solar captive generation for Khopoli is expected in Q3 2026, increasing renewable electricity share and supporting decarbonization goals.

• Forward-looking statements caution that actual results may differ due to risks and uncertainties.