HP Adhesives Ltd – Company Report
1. Company Overview
HP Adhesives Ltd, founded in 1978 and headquartered in Mumbai, Maharashtra, is a leading Indian manufacturer specializing in adhesives and sealants, particularly for the plumbing and construction industries. The company was established by visionary entrepreneur Haresh Motwani, beginning with solvent cements during the early growth of India’s plastic sector. Over the past four decades, it has transformed into the largest manufacturer of solvent cement in Asia, known for its innovation, operational excellence, and customer-centric growth.
As of mid-2025, HP Adhesives boasts a pan-India distribution network with over 750 distributors and 50,000 dealers across 23 states and 4 union territories, while exporting to more than 40 countries. The primary manufacturing facility is located in Khopoli, Raigad (Maharashtra), and is supported by a network of regional offices and depots nationwide.
- Incorporated: 1978
- Headquarters: Mumbai, Maharashtra, India
- Core Focus: Adhesives and sealants for plumbing, construction, and industrial use
- Manufacturing Facility: Khopoli, Raigad, Maharashtra
- Employees: 201–500 (approx.)
- Stock Listing: NSE, BSE
- Distribution Reach: 750+ distributors, 50,000+ dealers in 23 states & 4 UTs
- Key Leadership: Haresh Motwani (Founder)
2. Products and Services
HP Adhesives Ltd offers a comprehensive range of adhesives, sealants, and complementary solutions, catering to diverse industrial and consumer applications:
Adhesives and Sealants:
- PVC, cPVC, and uPVC solvent cements – flagship product line and market leader in India and Asia
- Synthetic rubber adhesives – widely used in footwear, leather, and multi-material bonding
- PVA/White Glue – applications in carpentry, packaging, and paper products
- Silicone & acrylic sealants, gasket shellac, pipe lubricants, and specialty adhesives
Ancillary Products and Plumbing Accessories:
- Ball valves, teflon thread seal tapes, and essential plumbing solutions
- FRP manhole covers, drainage solutions, and infrastructure accessories
- Industrial chemicals and fiber glass components for extended utility
Custom/Private Label Manufacturing:
- Develops select adhesive products for leading PVC pipe brands under private label or co-branded arrangements
HP Adhesives emphasizes quality assurance, adherence to international standards (ASTM, DIN, BS, ISO), and a strategy of continual product diversification, addressing both Indian and global markets.
3. Recent News and Financial Performance
Business Developments:
- Sustained R&D investments have supported product diversification and global market expansion.
- Operational upgrades via automation have improved manufacturing efficiency and consistency.
- Export reach expanded to over 40 countries, strengthening international revenue streams.
- Strategic diversification into plumbing infrastructure and accessories opened new segments for growth.
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Total Annual Revenue | ₹251 crore |
| Net Profit | ₹17.84 crore |
| Operating Profit Margin | 10% |
| Return on Equity (ROE) | 10.1% |
| Dividend Payout % | 21% |