HP Adhesives Limited (HPAL.NS)

HP Adhesives Limited (HPAL.NS) — VMCI valuation read

HPAL.NS screens at VMCI 55/100, a 5-point gap above the Basic Materials sector median (50). For a mid-cap HP Adhesives Limited share, that placement says the multi-pillar composite is cheaper or higher quality than the typical peer on a like-for-like basis.

HPAL.NS has logged no Form 4 insider activity over the trailing 30 days. The tape reads neither bullish nor bearish on insider conviction. The next signal sits with the 10-Q schedule and the analyst calendar.

**Investor frame.** Value: HPAL.NS trades at 18.0x earnings, 0% above the Basic Materials median of 18.0x, while EV/EBITDA prints 9.0x against 12.0x for the Basic Materials group. Quality: ROIC of 12.0% sits 2.0pp above the Basic Materials median (10.0%), the cleanest like-for-like comparison on capital efficiency. Risk: net debt to EBITDA of 0.8x leaves covenant headroom, which sets the rate-cycle exposure for HP Adhesives Limited.

HPAL.NS fell 3.6% over the trailing 7 days, with a -20.7% read on a 30-day basis.