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Huhtamaki India Limited (HUHTAMAKI) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹15.9B

HI Huhtamaki India Limited HUHTAMAKI · NSE
Price₹277.05
Fair Value₹252.59
Upside-8.8%
Quality62/100
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Weak Growth
Thin margins · 4.8% net margin
Low debt · generates free cash flow
Ranks above peers (10/14)
Narrow moat 39/100
Evidence: High Range ₹189.44 – ₹315.74 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 3 days ago

Fair value updated Aug 13, 2026, revised from ₹265.98 to ₹252.59 (−5.0%) since Aug 6, 2026. Share price +24.6% over the past month.

A solid business, currently priced close to our fair value.

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What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ₹189.44 (bear) to ₹315.74 (bull), base ₹252.59. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 62/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹431.43 ₹141.62 Fair Value ₹252.59 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹141.62 – ₹431.43 · fair‑value band ₹189.44 – ₹315.74 · the ₹277.05 price screens above the ₹252.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Huhtamaki India Limited (HUHTAMAKI) currently trades at ₹277.05, while our model-based Fair Value estimate is ₹252.59, implying the stock looks roughly 8.8% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Cyclical sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Huhtamaki India Limited generated revenue of ₹24.7B at a net margin of 4.8%. Revenue grew 0.5% year over year. It earns a return on equity of 9.5%. Net debt stands at ₹496M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹189.44 (bear case) to ₹315.74 (bull case); at ₹277.05, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 88% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -23% fair-value upside, at -9%, HUHTAMAKI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹279.33 ₹417.17 ₹615.57 80
Residual Income ₹146.62 ₹160.65 ₹230.15 76
Rev-Margin DCF ₹199.11 ₹304.37 ₹426.83 74
All 26 models by family
DCF Models
FCF DCF ₹274.87 ₹431.19 ₹671.15 38
Owner Earnings ₹172.85 ₹271.31 ₹422.44 31
5Y Revenue Exit ₹199.11 ₹302.34 ₹432.02 39
5Y EBITDA Exit ₹205.21 ₹313.81 ₹438.59 41
5Y P/E Exit ₹211.02 ₹324.72 ₹443.00 38
10Y Revenue Exit ₹218.77 ₹319.76 ₹452.29 36
10Y EBITDA Exit ₹227.79 ₹327.74 ₹457.32 37
10Y P/E Exit ₹231.50 ₹335.34 ₹460.71 35
Earnings-Based
Graham-Dodd ₹106.39 ₹338.09 ₹450.57 54
Lynch FV ₹74.47 ₹106.39 ₹138.31 50
PEG = 1.0 ₹74.47 ₹106.39 ₹138.31 46
EPV ₹123.55 ₹144.27 ₹162.39 59
Dividend Discount
Gordon GGM ₹18.39 ₹38.25 ₹60.67 70
DDM Multi-Stage ₹18.39 ₹30.70 ₹40.14 61
Multiples
P/E Multiple ₹199.48 ₹265.98 ₹332.47 63
P/S Multiple ₹199.48 ₹265.98 ₹332.47 58
P/B Multiple ₹199.48 ₹265.98 ₹332.47 55
EV/EBIT ₹192.06 ₹256.32 ₹320.58 53
EV/EBITDA ₹188.78 ₹251.94 ₹315.11 54
EV/Revenue ₹166.35 ₹237.96 ₹309.56 43
Asset-Based
NCAV (Graham) ₹85.64 ₹114.76 ₹171.28 50
Growth DCF
Growth DCF ₹279.33 ₹417.17 ₹615.57 80
Rev-Margin DCF ₹199.11 ₹304.37 ₹426.83 74
Economic Profit
Residual Income ₹146.62 ₹160.65 ₹230.15 76
ROIC Compounder ₹123.55 ₹144.27 ₹162.39 72
Growth Earnings
Growth-Adj P/E ₹170.40 ₹243.42 ₹316.45 68

Widest divergence: DCF Models (₹319.76) versus Dividend Discount (₹30.70). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹24.7B
Revenue growth (YoY) +0.5%
Net margin 4.8%
Return on equity 9.5%
Free cash flow ₹1.8B FY2025
P/E ratio 17.8
More key figures
Operating margin 2.7%
EPS (TTM) ₹15.58
EPS growth (YoY) -2.0%
Net debt ₹496M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 64 · Market factors (momentum, volatility) 79

Profitability 55
Margins and returns on capital today
Quality Growth 48
Are margins and returns improving?
Cashflow 64
Earnings quality: real cash, not paper profit
Fin. Strength 73
Balance sheet, leverage, solvency risk
Investment 59
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 80
Price trend over the last 3–12 months (market factor)
52W Momentum 84
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Huhtamaki India Limited engages in the manufacture and sale of packaging materials in India. The company offers packaging solutions for beverages; dry and wet culinary packaging solutions; home and personal care packaging, such as beauty, cleaning and laundry, and family care; and pet food packaging.

Full company description

Huhtamaki India Limited engages in the manufacture and sale of packaging materials in India. The company offers packaging solutions for beverages; dry and wet culinary packaging solutions; home and personal care packaging, such as beauty, cleaning and laundry, and family care; and pet food packaging. It also provides pharmaceutical packaging; functional labels, anti-counterfeit labels, extended text labels, value-added aesthetic labels, and other labeling solutions; PE products under the blueloop brand; products for PET and PE platforms under the blueLite brand; PO and PP Retort products under the blueloop brand; and laser engraved cylinders. The company was formerly known as Huhtamaki PPL Limited and changed its name to Huhtamaki India Limited in November 2020. The company was founded in 1935 and is based in Thane, India. Huhtamaki India Limited operates as a subsidiary of Huhtavefa BV.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Huhtamaki India Limited reported revenue of ₹23.9B in FY2025 versus ₹26.3B in FY2021, a compound −2.3%/yr. Reported net income was ₹1.2B in FY2025.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
₹23.9B
Latest YoY
−4.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−7.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−0.5%
Avg. growth/yr (20Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.9%
Revenue −2.3%/yr
FY21 ₹26.3B
FY22 ₹29.8B
FY23 ₹25.5B
FY24 ₹25.0B
FY25 ₹23.9B
Net income
FY21 −₹227M
FY22 ₹496M
FY23 ₹4.1B
FY24 ₹880M
FY25 ₹1.2B
Character of growth · EPS growth decomposed (2014-2025) +11.0 % p.a.
Revenue per share +2.9 pp

of which total revenue +3.5 pp · buybacks/dilution −0.6 pp

EBIT margin +5.0 pp
Tax rate +1.8 pp
Residual (interest, one-offs) +1.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Huhtamaki India Limited Fair Value". https://www.fairvalue-calculator.com/stock/HUHTAMAKI

Peer Group

Packaging & Containers · 272 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 62 · Top 25%
Fair Value upside −9% · Above median
Return on equity (TTM) 10% · Above median
Return on assets 4% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 3% · Below median
Revenue growth 1% · Above median
Dividend yield (TTM) 1.0% · Bottom 25%
Debt / equity 0.08× · Lower than median

Valuation Multiples vs Packaging & Containers median · lower = cheaper

P/E (TTM) 17.8× · Cheaper than median
P/B 1.23× · Pricier than median
P/S (TTM) 0.64× · Cheaper than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 9.1× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 22 · sector 9
FUTURE 3 · sector 0
PAST 38 · sector 21
HEALTH 96 · sector 93
DIVIDEND 19 · sector 47

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaging & Containers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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SCG Packaging Public Company SCGP 31.00 THB 16.12 THB -48%
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PT Fajar Surya Wisesa Tbk, FASW 5,312 IDR 1,193 IDR -78%
Taiwan Hon Chuan Enterprise Co 9939 134.00 TWD 127.06 TWD -5%
Time Technoplast Limited TIMETECHNO ₹208.56 ₹161.42 -23%
EPL Limited 500135 ₹247.30 ₹111.65 -55%
Dongwon Systems Corporation 014820 21,650 KRW 31,473 KRW +45%
PT Panca Budi Idaman Tbk, PBID 525.00 IDR 774.13 IDR +47%

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Frequently asked questions

Is Huhtamaki India Limited (HUHTAMAKI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹252.59 versus a price of ₹277.05, about −9% (fairly valued).
What is the fair value of HUHTAMAKI?
Our model-based fair value for Huhtamaki India Limited is ₹252.59 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹277.05.
What is the quality score of HUHTAMAKI?
Huhtamaki India Limited has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Huhtamaki India Limited (HUHTAMAKI)?
Huhtamaki India Limited reported trailing-twelve-month revenue of about ₹24.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of HUHTAMAKI?
The net profit margin of Huhtamaki India Limited is about 4.8%, meaning it keeps roughly 4.8% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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