Hindware Home Innovation Ltd (BOM:542905) Q3 2025 Earnings Call Highlights: Navigating …

• Consolidated Revenue (Q3 FY25): INR 594 crores

• Consolidated EBITDA (Q3 FY25): INR 37 crores

• Consolidated Revenue (9 months FY25): INR 1,824 crores

• Consolidated EBITDA (9 months FY25): INR 132 crores

• Pipe Revenue (Q3 FY25): INR 189 crores

• Pipe EBITDA (Q3 FY25): INR 13 crores

• Pipe Revenue (9 months FY25): INR 539 crores

• Pipe EBITDA (9 months FY25): INR 37 crores

• Volume Growth (9 months FY25): 11% year-over-year

• CPVC Revenue Contribution (9 months FY25): Over 38%

• Bathware Revenue (Q3 FY25): INR 338 crores

• Bathware EBITDA (Q3 FY25): INR 35 crores

• Bathware Revenue (9 months FY25): INR 1,024 crores

• Bathware EBITDA (9 months FY25): INR 110 crores

• Consumer Appliances Revenue (Q3 FY25): INR 67 crores

• Consumer Appliances EBITDA Loss (Q3 FY25): INR 10 crores

• Consumer Appliances Revenue (9 months FY25): INR 260 crores

• Consumer Appliances EBITDA Loss (9 months FY25): INR 14 crores

Release Date: February 17, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Hindware Home Innovation Ltd (BOM:542905) reported strong volume growth in its TRUFLO pipe business, with an 11% year-over-year increase for the first nine months of FY ’25.

• The company launched four new core products for underground drainage and plans to introduce double-wall corrugated pipes and fire sprinkler systems, indicating a focus on product innovation.

• The company is expanding its distribution network and manufacturing capabilities, particularly with a new facility nearing completion to serve Northern India, which will enhance capacity.

• Hindware’s brand awareness remains high, providing a strong foundation for future growth, especially in the mid-premium and premium segments.

• The company is undertaking a comprehensive cost review and implementing a zero-based budgeting approach to improve operational efficiencies and expand margins.

• The overall market conditions remain challenging, with subdued demand and rising input costs impacting sales, particularly in the bathware segment.

• The Consumer Appliances business reported an EBITDA loss of INR 10 crores for the quarter, indicating ongoing profitability challenges.

• The Bathware division experienced a 15.9% revenue decline in Q3 FY ’25 and an 11.7% decline over the nine months, reflecting significant market share and profitability losses.

• The company faces competitive pressures in the premium bathware segment, with new entrants and established players maintaining dominance.

• Hindware’s debt level remains high at INR 700 crores, raising concerns about sustainability without further equity raises.