Huhtamaki India (509820) Q2 2025 earnings summary

Executive summary

• Q2 2025 saw subdued demand and lower sales volumes, with net sales declining year-over-year and sequentially, but profitability improved due to operational efficiency, cost controls, and a favorable sales mix.

• EBITDA and EBIT increased significantly year-over-year, supported by efficiency programs and innovation in packaging solutions.

• The company remains focused on operational efficiency, safety, sustainability, and innovation, aiming to be the first choice in sustainable packaging solutions as part of Strategy 2030.

Financial highlights

• Q2 2025 revenue was INR 5,919.4 million, down 4.7% year-over-year and slightly down sequentially; H1 2025 revenue was INR 11,850 million, a 2.4% decline year-over-year.

• Q2 2025 EBITDA rose 28.7% year-over-year to INR 492.7 million, with EBITDA margin improving to 8.3% from 6.2%.

• Q2 2025 EBIT was INR 362 million, up 37.4% year-over-year; H1 2025 EBIT before exceptional items was INR 733 million, up 10.7%.

• Profit before tax (excluding exceptionals) for Q2 2025 was INR 331.2 million, up 55% year-over-year.

• Q2 2025 net profit was INR 249.4 million, compared to INR 35 million in Q2 2024 and INR 262 million in Q1 2025; H1 2025 EPS was INR 6.76.

Outlook and guidance

• Management refrained from providing forward-looking margin or CapEx guidance, citing market uncertainties, but expects continued support from operational efficiency and a favorable sales mix.

• Regulatory changes and sustainability trends are expected to drive future demand for recyclable and sustainable packaging.

• Next financial results will be reported on October 24, 2025.