Hawkins Cookers Q4 FY26 Results (NSE: HAWKINCOOK)
Signal: Margin pressure
The read
Q4 revenue growth of 19.2% YoY is strong and accelerating from the trailing 12.3% FY26 average, but gross margin compression of ~440bps YoY due to raw material cost inflation tempered EBITDA margin expansion. PAT growth (15.8% YoY) tracked operating profit. Full-year results show consistent 12-14% top & bottom-line growth; dividend hiked 7.7% to ₹140/share. Company remains debt-free with net cash of ₹175 Cr.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹365.43 Cr | 19.2% | 10.1% |
| EBIT | ₹57.23 Cr | 15.2% | |
| Net profit | ₹39.78 Cr | 15.8% | |
| EPS | ₹75.22 | 15.8% | |
| EBIT margin | 14.43% |
P&L walk
Standalone-only company; no consolidated statement filed.
Segments
The company operates in a single segment: manufacture, trading and sale of kitchenware. No segment revenue/result split is reported.
Key positives
- Revenue growth of 19.2% YoY in Q4, accelerating from 12.3% FY26 full-year rate.
- Net cash position strengthened to ₹175.23 Cr as of March 2026.
- Dividend recommended at ₹140/share, up 7.7% YoY, reflecting cash generation confidence.
- FY26 PAT grew 14.4% YoY to ₹131.19 Cr, maintaining double-digit profit growth trajectory.
Key concerns
- Gross margin compressed ~440bps YoY in Q4 (raw material cost as % of revenue rose to 51.2% from 46.8%), squeezing EBITDA margin by 110bps YoY.
- Other income declined 14.5% YoY in Q4, reducing tailwind for bottom line.
- EBITDA margin of 14.43% in Q4 is 110bps lower than Q4FY25; operating cost growth outpaced revenue.
Research and educational content only. Not investment advice.