Huhtamaki India (509820) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw lower year-over-year sales volumes, but significant margin improvement and strong sequential and year-over-year profit growth, driven by a favorable sales mix and operational efficiency gains.

• EBITDA and profit before tax more than doubled year-over-year, with double-digit EBITDA margin achieved for the first time in several years.

• The company is focused on high-quality business, refining its product and customer portfolio for profitable growth and advancing sustainability initiatives, including an incident-free quarter and progress in renewable energy and water reduction.

• The company appointed Mr. Axel Glade as Additional Director (Non-Executive, Non-Independent) effective October 15, 2025.

Financial highlights

• Q3 2025 revenue was INR 6,049.3 million, down 4.7% year-over-year but up 2.2% sequentially; nine-month revenue was INR 17,899 million, down 3.2% year-over-year.

• EBITDA increased 107.1% year-over-year to INR 648.7 million, with EBITDA margin rising to 10.7%.

• EBIT grew 172.1% year-over-year to INR 521 million, with EBIT margin at 8.6%.

• Profit before tax (pre-exceptional) surged to INR 491.7 million, up 243.4% year-over-year and 50% sequentially.

• Net profit after tax and exceptional items was INR 367.7 million, up from INR 117.1 million in Q3 2024 and INR 249 million in Q2 2025; EPS for the quarter was 4.87.

Outlook and guidance

• Management expects continued focus on profitable growth, with structural cost improvements and efficiency programs expected to sustain margin gains.

• Volume growth is anticipated to align with industry trends, with optimism for improved volumes due to GST reforms and consumer premiumization.

• The company continues to pursue its Strategy 2030, aiming to be the first choice in sustainable packaging solutions.

• No specific forward-looking volume or revenue guidance was provided.