New Delhi, 12 June (H.S.):

Shares of nutrition products manufacturer Hexagon Nutrition made an impressive debut on the stock market on Friday, rewarding IPO investors with healthy gains on the very first day of trading.

The company's shares were issued at ₹45 apiece under its initial public offering (IPO). On listing day, the stock debuted at ₹48 on the BSE, representing a premium of nearly 7 percent over the issue price. On the NSE, the shares were listed at ₹48.25. Following the listing, strong buying interest pushed the stock to its upper circuit limit of ₹50.66.

At this level, IPO investors were sitting on a gain of ₹5.66 per share, translating into a return of approximately 12.58 percent on their investment.

Hexagon Nutrition's ₹138.87-crore IPO was open for subscription from June 5 to June 9 and received an enthusiastic response from investors. The issue was oversubscribed 53.68 times overall. The Qualified Institutional Buyers (QIB) portion was subscribed 19.77 times, while the Non-Institutional Investors (NII) category witnessed a robust subscription of 161.49 times. The retail investors' segment was subscribed 26.85 times.

Under the IPO, the company offered 30,859,704 shares with a face value of ₹1 each through the Offer for Sale (OFS) route.

According to the claims made in the Draft Red Herring Prospectus (DRHP) filed with the market regulator, the company's financial performance has strengthened consistently in recent years.

Hexagon Nutrition's net profit rose from ₹5.82 crore in FY 2022-23 to ₹12.21 crore in FY 2023-24. It increased further to ₹24.38 crore in FY 2024-25. During the first nine months of FY 2025-26, from April to December 2025, the company had already recorded a net profit of ₹27.03 crore.

Revenue also witnessed steady growth during the same period. The company generated total revenue of ₹281.65 crore in FY 2022-23, which increased to ₹304.62 crore in FY 2023-24 and further to ₹331.29 crore in FY 2024-25. During the April–December 2025 period of FY 2025-26, revenue stood at ₹275.57 crore.

The company's debt profile, however, showed fluctuations. Total borrowings stood at ₹51.87 crore at the end of FY 2022-23. This declined to ₹36.89 crore in FY 2023-24 and further to ₹26.60 crore in FY 2024-25. However, during the first nine months of FY 2025-26, debt increased again to ₹39.79 crore.

Hexagon Nutrition's net worth recorded consistent growth over the years. It stood at ₹163.84 crore in FY 2022-23, rising to ₹176.29 crore in FY 2023-24 and ₹195.60 crore in FY 2024-25. By December 2025, the company's net worth had expanded to ₹223.05 crore.

Similarly, reserves and surplus increased steadily from ₹152.30 crore in FY 2022-23 to ₹164.51 crore in FY 2023-24 and ₹183.89 crore in FY 2024-25. During the first nine months of FY 2025-26, reserves and surplus further improved to ₹210.92 crore.

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation), a key measure of operating performance, also showed substantial improvement. EBITDA increased from ₹17.17 crore in FY 2022-23 to ₹24.88 crore in FY 2023-24 and surged to ₹40.07 crore in FY 2024-25. For the April–December 2025 period, EBITDA stood at ₹37.55 crore.

The strong listing performance reflects investor confidence in the company's growth prospects and improving financial profile. Market participants will continue to monitor the company's earnings trajectory and operational performance in the coming quarters.

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Hindusthan Samachar / Jun Sarkar