Huhtamaki India Ltd

Huhtamaki India has received upgrade in long term credit rating at CRISIL AA-/ Stable (upgraded from CRISIL A+/ Positive) for bank facilities of Rs 88 crore. The rating of CRISIL A1+ on commercial paper has been withdrawn. Powered by Capital Market - Live

Despite the profit surge, total revenue from operations dipped 1.48% to Rs 609.93 crore in Q1 CY25 from Rs 619.11 crore posted in Q4 CY24. However, on a year-on-year basis, the company's net profit increased marginally by 0.46%, despite a 0.03% drop in total revenue from operations in Q1 CY25 over Q1 CY24. Profit before tax (PBT) in Q1 CY25 stood at Rs 34.72 crore, down 1.03% from Rs 35.08 crore recorded in the year-ago quarter. The company reported EBIT of Rs 37.1 crore during the quarter, representing a decrease of 7% compared to the corresponding period last year. The EBIT margin was at 6.3% in Q1 CY25. Dhananjay Salunkhe, managing director, said, 'The company had a flat start to the year, with revenue for the quarter remaining relatively flat compared to the corresponding period of the previous year. EBIT is reflecting a decrease of 7% as compared to the corresponding period, though it is improving significantly compared to the trailing quarter. The improvement in margins compared to the trailing quarter is driven by better sales mix and operational efficiencies. The company continues to focus on driving the efficiencies across the manufacturing processes to improve upon the profitability. As a part of Huhtamaki Strategy 2030, our ambition is to be the first choice in sustainable packaging solutions. Huhtamaki India is India's leading manufacturer and supplier of sustainable, flexible, and innovative solutions in packaging and labeling products. On a full-year basis, the company's standalone net profit declined by 39.5% to Rs 64.73 crore, with a 1.2% fall in revenue from operations to Rs 2,450.53 crore in FY24 compared to FY23.Powered by Capital Market - Live

Net profit of Huhtamaki India rose 0.46% to Rs 26.15 crore in the quarter ended March 2025 as against Rs 26.03 crore during the previous quarter ended March 2024. Sales declined 0.10% to Rs 593.04 crore in the quarter ended March 2025 as against Rs 593.65 crore during the previous quarter ended March 2024. ParticularsQuarter EndedMar. 2025Mar. 2024% Var. Sales593.04593.65 0 OPM %6.536.91 - PBDT46.7344.60 5 PBT34.0535.08 -3 NP26.1526.03 0 Powered by Capital Market - Live

Huhtamaki India will hold a meeting of the Board of Directors of the Company on 22 April 2025.Powered by Capital Market - Live

Huhtamaki India has fixed 24 April 2025 as record date for the purpose of determining the members eligible to receive the final dividend of Rs.2/- per equity share of face value Rs.2/- each (100%). Powered by Capital Market - Live

The company added that these appointments were based on the recommendation of the Nomination and Remuneration Committee. The official announcement was made on Friday, 21 March 2025, after market hours. Dhananjay Salunkhe will serve as managing director of the company for a further period of three years, from 12 August 2025 to 11 August 2028. Salunkhe holds a master's degree in business management and a bachelor's degree in engineering. Additionally, he attended advanced leadership development programs at INSEAD, France, and Columbia University. Dhananjay has over 30 years of experience in various multinational and Indian companies in leadership roles with increasing responsibilities. He has served as the SBU Chief Executive of the packaging and printing business at ITC, in addition to holding leadership positions at 3M, Sulzer India, and GKN Sinter Metals. Further, Jagdish Agarwal will serve as a whole-time director of the company for a further period of three years, from 26 May 2025 to 25 May 2028. Jagdish Agarwal holds a bachelor's degree in commerce from Calcutta University and is a Chartered Accountant (CA) from the Institute of Chartered Accountants of India. He also holds an additional professional finance degree, CMA, from the Institute of Cost and Management Accountants. Agarwal is a seasoned financial professional with demonstrated expertise across industries and service sectors such as manufacturing, telecom, and banking, to name a few. His last employment was with Owens Corning India as its Chief Financial Officer. Jagdish has over 27 years of experience and has worked with companies like Reliance Communications, ICICI Bank, and Owens Corning India. Huhtamaki India's principal activity is the manufacture and sale of packaging material. On a full-year basis, the company's standalone net profit declined by 39.5% to Rs 64.73 crore, with a 1.2% fall in revenue from operations to Rs 2,450.53 crore in FY24 compared to FY23.Powered by Capital Market - Live

Huhtamaki India announced that the 75th Annual General Meeting(AGM) of the company will be held on 8 May 2025.Powered by Capital Market - Live

Huhtamaki India announced that the Board of Directors of the Company at its meeting held on 11 February 2025, inter alia, have recommended the final dividend of Rs 2 per equity Share (i.e. 100%) , subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Huhtamaki India declined 96.43% to Rs 11.69 crore in the quarter ended December 2024 as against Rs 327.42 crore during the previous quarter ended December 2023. Sales rose 2.74% to Rs 601.23 crore in the quarter ended December 2024 as against Rs 585.19 crore during the previous quarter ended December 2023. For the full year,net profit declined 78.52% to Rs 87.97 crore in the year ended December 2024 as against Rs 409.63 crore during the previous year ended December 2023. Sales declined 1.24% to Rs 2450.53 crore in the year ended December 2024 as against Rs 2481.32 crore during the previous year ended December 2023. ParticularsQuarter EndedYear EndedDec. 2024Dec. 2023% Var.Dec. 2024Dec. 2023% Var. Sales601.23585.19 3 2450.532481.32 -1 OPM %4.369.86 -4.797.85 - PBDT29.0555.55 -48 133.45179.66 -26 PBT15.2344.37 -66 85.97130.51 -34 NP11.69327.42 -96 87.97409.63 -79 Powered by Capital Market - Live

Huhtamaki India will hold a meeting of the Board of Directors of the Company on 11 February 2025.Powered by Capital Market - Live