H.R. Hygiene Products Limited is a manufacturer and distributor of personal hygiene products, primarily focusing on women, babies, and the elderly through proprietary brands like Femiss, Womanica, Bloom Baby, and ElderFit.
The application period for the H.R. Hygiene Products IPO runs from July 29 to July 31, 2026, targeting capital for a new manufacturing facility in Gujarat.
The public offer with the aim of raising up to ₹54 Crores, features a total pool of 61,31,200 shares, combining a fresh issue of 49,05,600 shares with a corporate sale of 12,25,600 existing shares.
The price band has been fixed at ₹83 to ₹88 per share, requiring a minimum retail application of 3,200 shares.
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This breakdown covers the H.R. Hygiene Products IPO price band, allotment schedule, today's subscription numbers, current GMP, and an in-depth evaluation.
Briefs of H.R. Hygiene Products IPO Details
- Price Band: ₹83 – ₹88 per share
- IPO Open / Close Dates: 29 July 2026 / 31 July 2026
- Lot Size: 1,600 shares (Minimum retail investment: 3,200 shares)
- Issue Size: 61,31,200 shares
- Fresh Issue / OFS: Fresh Issue of 49,05,600 shares / OFS of 12,25,600 shares
- Registrar: Purva Sharegistry (India) Pvt.Ltd.
- Listing Exchange: BSE SME
IPO Reservation
- Face value: ₹10 per share
- Anchor offer: Up to 16,86,400 Equity Shares
- QIB-shares: Not more than 29,08,800 Equity Shares (Includes Anchor portion)
- NIIs-Shares offered: Not less than 8,73,600 Equity Shares
- RIIs- Shares offered: Not less than 20,38,400 Equity Shares
What is Today's Grey Market Premium (GMP) for the H.R. Hygiene Products IPO?
Check our central gmp platform for daily updates on this and other public listings.
Important Note: Because the GMP is determined informally by market supply and demand, it changes every day and is completely independent of official exchange regulations by SEBI, BSE, or NSE
More GMP details:
GMP vs Listing Gains May 2026 IPOs: A Data Analysis of 14 IPOs &
GMP vs Listing Gains April 2026 IPOs: A Data Analysis of 12 IPOs
What is the Official Schedule and Allotment Timeline for the H.R. Hygiene Products IPO?
- IPO Open & Close Date: 29 July 2026 to 31 July 2026
- Basis of Allotment Date: 3 August 2026
- Refund Initiation Date: 4 August 2026
- Credit of Shares: 4 August 2026
- Listing Date: 5 August 2026
What Are The Stated Objectives of H.R. Hygiene Products IPO?
The company leadership of H.R. Hygiene Products intends to utilize the net earnings from the fresh equity offer for the key objectives listed below:
- Capital Expenditure: A significant allocation of ₹31.36 crores is designated to establish "Unit 2" in Rajkot, Gujarat. This new facility will focus exclusively on manufacturing baby diapers with an installed capacity of 6 crore pieces annually.
- Debt Repayment: The firm will utilise ₹3.56 crores to fully or partially prepay/repay certain outstanding borrowing facilities.
- General Corporate Purposes: The company management plans to use the remaining balance, capped at 15% of the total money collected, to fund routine business operations and advertising strategies.
Also check: IPO Listing Performance Tracker 2026 – Complete Dataset of IPO Listing Gains in India
How has H.R. Hygiene Products Performed Financially in recent years?
Here is a summary of the company's past financial performance, reported in crores of rupees.
Period Ended | 31 Mar 26 | 31 Mar 2025 | 31 Mar 24 |
Total Income | 131.90 | 115.15 | 85.33 |
Profit After Tax | 11.41 | 9.08 | 4.66 |
EBITDA | 17.08 | 14.77 | 7.58 |
Total Borrowing | 21.53 | 21.19 | 24.68 |
Assets | 170.92 | 90.56 | 48.87 |
Source: RHP
Financial Observations:
Total Income
The company showcased a consistent and rapid upward trajectory in its revenue streams.
- Total income expanded impressively from ₹85.33 crores in FY24 to ₹131.90 crores in FY26.
- This surge was primarily driven by higher sales volumes of sanitary napkins.
- An aggressive push into e-commerce channels further accelerated this top-line scale-up.
Profit After Tax
Net profit experienced robust, sequential growth as operational scale widened.
- PAT surged from ₹4.66 crores in FY24 to ₹11.41 crores in FY26.
- The PAT margin improved noticeably to 8.73% in the latest fiscal year.
- Retained earnings successfully bolstered the internal accruals necessary for future expansion.
EBITDA
Operational earnings advanced significantly due to increased production volumes and higher factory utilisation.
- EBITDA more than doubled from ₹7.58 crores in FY24 to ₹17.08 crores in FY26.
- The EBITDA margin expanded to a healthy 13.07% during the most recent fiscal period.
- Effective containment of manufacturing overheads contributed to sustaining these competitive margins.
Total Borrowing
The firm managed to keep its debt levels relatively stable despite its capital-intensive capacity expansions.
- Total borrowings stood at ₹24.68 crores in FY24 and marginally decreased to ₹21.53 crores by FY26.
- This controlled borrowing profile resulted in a highly favourable Debt-to-Equity ratio of 0.51x.
- A specific portion of the IPO proceeds aims to further reduce these outstanding liabilities.
Assets
The resource base of the company expanded substantially to support its integrated manufacturing model.
- Total assets grew dramatically from ₹48.87 crores in FY24 to ₹170.92 crores in FY26.
- This growth is directly tied to heavy investments in plant machinery and infrastructure.
- The planned establishment of Unit 2 will further augment this physical asset base.
What Are The P/E ratio and Peer Comparison of H.R. Hygiene Products Limited?
According to the Red Herring Prospectus, there are no listed companies in India engaged in an identical business segment or of a comparable size to H.R.
Hygiene Products Limited. Consequently, a direct industry peer comparison is not applicable.
At the upper price band of ₹88, the company enters the primary market demanding an implied P/E multiple of approximately 13.72x.
Operating with an EPS of ₹6.41, the firm reports a highly robust Return on Net Worth (RoNW) of 30.90% for FY26. This better return metric underscores the company's highly efficient capital utilisation and strong pricing power within its specific consumer goods niche.
What is The Industry Outlook of H.R. Hygiene Products Limited ?
Growth potential
- The Indian personal hygiene market is witnessing rapid expansion due to rising disposable incomes and heightened health awareness across Tier-2 and Tier-3 cities.
- Government initiatives promoting menstrual hygiene and improved rural distribution networks are directly expanding the consumer base for sanitary napkins.
- The transition from unorganised local products to branded, affordable alternatives offers a steady runway for volume growth.
Market trends and competitors
- The hygiene sector is dominated by multinational FMCG giants, making competitive pricing and deep regional distribution critical for mid-sized players.
- Omni-channel retail strategies, specifically aggressive e-commerce penetration, are proving essential for capturing younger demographics.
- Companies are increasingly vertically integrating their manufacturing to reduce reliance on third-party contract manufacturers and protect margins.
What Are The Strengths and Potential Risks of H.R. Hygiene Products IPO?
Strengths:
- High Return Profile: The company delivers an excellent Return on Net Worth (RoNW) of 30.90% and a Return on Capital Employed (RoCE) of 24.86% in FY26.
- Omni-channel Reach: A dual-channel strategy incorporates 202 physical distributors and aggressive e-commerce sales, which grew by 137% YoY in FY26.
- Capacity Expansion: The IPO funds a dedicated new facility (Unit 2) to manufacture 6 crore baby diapers annually, shifting away from third-party contract manufacturing.
Risks:
- Product Concentration: In FY26, sanitary napkins accounted for a massive 95.33% of consumer hygiene product revenues, exposing the firm to shifts in this specific category.
- Geographic Dependency: The company is heavily reliant on Gujarat, which generated 77.02% of its operating revenue in FY26.
- Supply Chain Vulnerability: Lacking long-term supply agreements, the firm depends on imported raw materials like fluff pulp, leaving it exposed to currency and commodity price risks.
Important iPO Resources:
1.IPO Calendar India | Upcoming & Live IPOs in India
2. IPO Allotment Status – How to Check Allotment Status of IPO Shares
4. GMP vs Listing Gains June 2026 IPOs: A Data Analysis of 22 IPOs
5. Latest IPO Subscription Status Today | Live Updates
Key Considerations for Investors
- Product Concentration: The business is heavily dependent on a single category, with sanitary napkins generating 95.33% of its FY26 revenue.
- Geographic Risk: Operations and sales are highly localised; 77.02% of operating revenue is derived from Gujarat, and all manufacturing occurs at a single site in Rajkot.
- Expansion Execution: The primary objective of the issue is to deploy ₹31.36 crores for a new diaper facility (Unit 2), carrying inherent execution and capacity stabilisation risks.
- Raw Material Exposure: The company imports critical raw materials without long-term supply agreements, exposing its 13.07% EBITDA margins to international commodity and forex fluctuations.
Key Takeaways
- IPO Price Band: ₹83 to ₹88 per equity share
- Lot Size: 1,600 shares (Minimum retail application of ₹2,81,600 for 2 lots)
- Allotment Date: Allotment on 3 August 2026
- Listing Date: Listing on BSE SME on 5 August 2026
FAQs on H.R. Hygiene Products IPO
What is the set subscription price bracket per share for H.R. Hygiene Products?
Visit our primary GMP platform to monitor the latest daily premium trends for this SME listing, which rise or fall regularly based on unofficial market sentiment.
What is H.R. Hygiene Products IPO price band?
The official pricing range for this equity issue is established at ₹83 to ₹88 per share.
When will the H.R. Hygiene Products IPO share allocation be completed?
The company plans to finalize its share distribution status on August 3, 2026.
Where can you check your share allocation status for the H.R. Hygiene Products IPO?
You can confirm your final share results on the official website of the issue's registrar, Purva Sharegistry (India) Pvt. Ltd., by entering your PAN card number or application identification.
On what date will H.R. Hygiene Products shares start trading on the stock exchanges?
The equity shares are proposed to be listed on the BSE SME platform on 5 August 2026.
Investment Perspective on H.R. Hygiene Products IPO
H.R. Hygiene presents a high-growth, concentrated investment opportunity. Boasting robust FY26 financials with ₹131.90 crore revenue and 30.90% RoE, the company is successfully scaling its personal hygiene brands.
The IPO strategically funds a new diaper manufacturing facility to capture lucrative market expansion. However, extreme reliance on sanitary napkins (95% of revenue) and the Gujarat market (77%) poses significant localized risks.
This IPO uniquely suits risk-tolerant niche consumer sector investors.
Disclaimer:
This content serves as a general overview and should not be taken as individual investment guidance. Investors are urged to seek advice from a SEBI-certified professional before trading.
