Huhtamaki India Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Huhtamaki India Ltd filed with BSE on 18 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Huhtamaki India reported net sales up 10 basis points year-on-year for Q1 CY26, while EBITDA improved by 24.8% on a sequential and year-on-year basis driven by sales mix and operational efficiency. The quarter included a one-off INR 88 million charge related to a prior-year depreciation calculation error, which management said brought reported EBIT growth down to 4% versus an underlying 27.8% improvement excluding the item. Management also discussed raw material cost inflation following a war-related disruption, price pass-through to customers, and updates on sustainability initiatives across safety, climate, water and product pillars.
Numbers mentioned
Net sales growth: 10 bps (Q1 CY26 vs Q1 CY25)
p. 4
“net sales up by 10 bps”
Kamal Taneja, page 4 of the filed PDF · View the filing
EBITDA growth: 24.8% (Q1 CY26 vs Q1 CY25)
p. 4
“EBITDA improved by 25%, 24.8% like year-on-year, first quarter last year versus this year quarter 1”
Kamal Taneja, page 4 of the filed PDF · View the filing
EBIT growth: 4% (Q1 CY26 vs Q1 CY25)
p. 4
“EBIT went up by 4%, but that's also because of the depreciation that I spoke to you about earlier”
Kamal Taneja, page 4 of the filed PDF · View the filing
PBT growth: 2.9% (Q1 CY26 vs Q1 CY25)
p. 4
“PBT similarly increased by 2.9%, and we were slightly lower on EPS”
Kamal Taneja, page 4 of the filed PDF · View the filing
One-off depreciation charge: INR 88 million (Q1 CY26)
p. 4
“There's about INR 88 million charge in this particular quarter, which is pertaining to the prior 2 years”
Amit Gupta, page 4 of the filed PDF · View the filing
EBIT margin excluding exceptional item: 27.8% (Q1 CY26)
p. 5
“If I exclude the exceptional item of depreciation, it has actually gone up to 27.8%, which is consistent with the growth that we have seen in the EBITDA”
Amit Gupta, page 5 of the filed PDF · View the filing
Profit before tax: INR256 crores (Q1 CY26)
p. 5
“Our overall profit and loss for the period is actually about INR256 crores, which is almost 2% down versus the same quarter last year”
Amit Gupta, page 5 of the filed PDF · View the filing
Profit growth excluding prior year postings: 23.1% (Q1 CY26)
p. 5
“If I have to exclude that particular charge, the profit before the prior year postings is actually going up by almost 23.1%”
Amit Gupta, page 5 of the filed PDF · View the filing
EBIT: INR 386 million (Q1 CY26)
p. 5
“we actually demonstrated an EBIT improvement, EBIT of about INR 386 million, again, after taking into consideration the INR 88 million hit”
Amit Gupta, page 5 of the filed PDF · View the filing
EBIT as percentage of sales excluding exceptional item: 8% (Q1 CY26)
p. 5
“Then we are at 8% EBIT for the quarter, which is in line with the EBIT that we have demonstrated in the quarter 4 last year and almost 1.7% or 170 basis points higher versus the quarter 1 of last year”
Amit Gupta, page 5 of the filed PDF · View the filing
Total recordable safety incidents improvement: 67% (Year-on-year)
p. 6
“our total recordable incidents year-on-year improved by 67% which is a great achievement”
Kamal Taneja, page 6 of the filed PDF · View the filing
Interest on income tax refund: INR 6.5 crores (Q1 CY26)
p. 10
“Yes. So it's about INR 6.5 crores that we have received.”
Amit Gupta, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Solar captive electricity project at Khopoli plant — go live · next few months, benefits in second half
stated firmly by Kamal Taneja
p. 6
“So that's been signed. It's being executed now, and we expect to go live in the next few months.”
Kamal Taneja, page 6 of the filed PDF · View the filing
ECB loan repayment to parent — remaining amount to be paid · by June '27
stated firmly by Amit Gupta
p. 11
“A part of it still remains, which has to be paid over a period of time as prescribed, by June '27.”
Amit Gupta, page 11 of the filed PDF · View the filing
Top line growth from raw material pass-through
stated conditionally by Kamal Taneja
p. 9
“So top line, definitely, you would see just virtue of that, barring any market changes, et cetera, at least that one we would see, but we are trying to grow on top of that as well.”
Kamal Taneja, page 9 of the filed PDF · View the filing
Margin protection from raw material cost pass-through
stated firmly by Kamal Taneja
p. 9
“there will be no impact or virtually no impact on our margin because of that.”
Kamal Taneja, page 9 of the filed PDF · View the filing
Inorganic growth opportunities
stated as an aspiration by Kamal Taneja
p. 13
“But if something comes up, we would definitely look at that.”
Kamal Taneja, page 13 of the filed PDF · View the filing
Next reporting date — Q2 results · end of July
stated firmly by Kamal Taneja
p. 6
“I think in terms of reporting, I think you've seen our calendar, our next reporting is going to be end of July, and we'll talk to you a bit more on our results in second quarter.”
Kamal Taneja, page 6 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said raw material costs rose by low to medium double digits but availability was not an issue due to the company's global sourcing power, and most costs were passed through to customers.
Answered by Kamal Taneja
Asked by Aaryan Vadaria: What is the impact of the war on raw material costs and availability?
p. 7
“I think overall, we have probably low to medium double-digit raw material impact on our products overall.”
Kamal Taneja, page 7 of the filed PDF · View the filing
Management said the company is selective in the segments it serves, focusing on innovation and sustainability-oriented customers rather than chasing volume growth across the whole market.
Answered by Kamal Taneja
Asked by Vishnu: Given industry growth of 10-12%, is the company losing market share?
p. 8
“our, let's say, sweet spot or our strength is innovation, premiumization, sustainability, where, unfortunately, we only have select customers who are interested in those value propositions.”
Kamal Taneja, page 8 of the filed PDF · View the filing
CFO said other income was driven by interest on an income tax refund, higher fixed deposit interest, and FX gains from exports amid rupee depreciation.
Answered by Amit Gupta
Asked by Vishnu: What is driving the doubling of other income?
p. 9
“our other income in this particular quarter actually includes an interest on the income tax refund, which we have received in this particular quarter, plus there's an increase in the FD interest.”
Amit Gupta, page 9 of the filed PDF · View the filing
Management said India was among the first regions in the group to implement price pass-through and had most future orders locked in with new pricing by end of March.
Answered by Kamal Taneja
Asked by Rajkumar Vaidyanathan: How swift is the raw material cost pass-through to customers?
p. 11
“actually, India was one of the first ones compared to the other regions to implement this price pass-through.”
Kamal Taneja, page 11 of the filed PDF · View the filing
Management said the current focus is on strengthening the organization and organic growth, with inorganic opportunities not currently on the radar.
Answered by Kamal Taneja
Asked by Rajkumar Vaidyanathan: Are there plans for inorganic growth opportunities?
p. 13
“So I think the short answer is not at the moment. But if something comes up, we would definitely look at that.”
Kamal Taneja, page 13 of the filed PDF · View the filing
Management confirmed a property in Daman has been put up for sale following curtailed operations there.
Answered by Management
Asked by Anil Sharma: What assets has the company put up for sale?
p. 14
“So we have a property in Daman, which we have actually put up on sale.”
Management, page 14 of the filed PDF · View the filing
Risks flagged
Raw material cost inflation due to the war situation
p. 7
“What we have seen in last -- I think it started like end of March, we see prices going up significantly.”
Kamal Taneja, page 7 of the filed PDF · View the filing
Volatility and unpredictability of FX movements affecting imports and exports
p. 10
“But we cannot comment with respect to the future implications of the FX.”
Amit Gupta, page 10 of the filed PDF · View the filing
Delays in raw material shipments from overseas sources
p. 7
“Sometimes there's a delay in shipments because -- especially if they are coming from overseas.”
Kamal Taneja, page 7 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.