Stock Price Movement and Market Context
On 19 Jan 2026, HP Adhesives Ltd's stock price touched an intraday low of Rs 38, which also represents its all-time low. The stock opened with a gap down of -3.61% and closed the day with a loss of -4.36%, underperforming its Specialty Chemicals sector by -3.87%. Over the past two trading sessions, the stock has recorded a cumulative decline of -5.6%, reflecting a persistent downward momentum.
Technical indicators show the stock trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling a bearish trend. This contrasts with the broader market benchmark, the Sensex, which despite a recent three-week consecutive fall of -3.19%, remains approximately 3.77% below its 52-week high of 86,159.02 points.
Long-Term Performance and Relative Comparison
HP Adhesives Ltd has experienced a challenging year, with its share price declining by -46.80% over the last 12 months. This contrasts sharply with the Sensex’s positive return of 8.37% during the same period. The stock’s 52-week high was Rs 74.95, indicating a near 50% erosion in value from its peak.
Over longer horizons, the stock has underperformed the BSE500 index across multiple time frames, including the last three years, one year, and three months. This sustained underperformance highlights ongoing pressures on the company’s market valuation relative to its peers and the broader market.
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Financial Metrics and Profitability Trends
HP Adhesives Ltd’s financial performance has shown signs of stagnation and decline in recent periods. The company’s operating profit has grown at an annualised rate of 16.27% over the last five years, which is considered modest within the Specialty Chemicals sector. However, the latest nine-month period ending September 2025 recorded a PAT of Rs 12.21 crores, reflecting a contraction of -20.69% compared to prior periods.
Quarterly earnings per share (EPS) have also reached a low point, with the most recent quarter reporting an EPS of Rs 0.38, the lowest in recent history. This decline in profitability has contributed to the stock’s diminished appeal and valuation pressures.
Valuation and Capital Structure
Despite the recent price decline, HP Adhesives Ltd maintains an attractive valuation on certain metrics. The company’s return on equity (ROE) stands at 8.7%, while its price-to-book value ratio is a relatively low 1.9, indicating that the stock is trading at a discount compared to its peers’ historical averages.
Additionally, the company’s capital structure is conservative, with an average debt-to-equity ratio of zero, signalling a debt-free balance sheet. This financial prudence may provide some stability amid the current market pressures.
Shareholding and Market Sentiment
The majority shareholding of HP Adhesives Ltd remains with its promoters, which may influence strategic decisions and long-term company direction. The stock’s Mojo Score currently stands at 37.0, with a Mojo Grade of Sell, downgraded from Hold on 12 Nov 2025. This rating reflects the stock’s recent performance trends and financial metrics.
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Sector and Market Environment
The Specialty Chemicals sector, in which HP Adhesives Ltd operates, has faced mixed performance in recent months. While the broader Sensex index has experienced a mild correction, the sector’s performance has been uneven, with some companies outperforming and others lagging behind. HP Adhesives Ltd’s underperformance relative to its sector peers is notable, especially given its share price decline of -46.80% over the past year.
Market volatility and sector-specific factors have contributed to the stock’s current valuation levels, with investors closely monitoring earnings trends and broader economic indicators.
Summary of Key Price and Performance Data
To summarise, HP Adhesives Ltd’s stock has reached a new 52-week low of Rs 38, down from a high of Rs 74.95 within the last year. The stock’s recent two-day decline of -5.6% and underperformance relative to the sector and Sensex highlight ongoing challenges in maintaining investor confidence. The company’s financial results, including a -20.69% decline in PAT for the nine-month period ending September 2025 and a low EPS of Rs 0.38 in the latest quarter, have weighed on sentiment.
Despite these headwinds, the company’s low debt levels and reasonable valuation metrics provide some context for its current market standing.
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