| Revenue growth | Q2 -1.2% YoY; H1 +2.0% YoY |
|---|---|
| Margins | Q2 EBITDA 11.2% vs 11.4% YoY; H1 9.5% vs 12.6% |
| Order book | Record ₹1,087.3 Cr, up 64% QoQ |
| Demand visibility | Order book ₹1,087.3 Cr, +51% YoY |
Growth
H1 revenue ₹647.4 Cr (+2.0% YoY). H1 EBITDA ₹61.6 Cr (-23.0%) and PAT ₹18.1 Cr (-43.2%). Q2 PAT grew YoY.
Outlook
No numeric guidance given. Capex ₹42-45 Cr at Adas, Gujarat for heavy engineering. Priority is converting order growth into profitable growth.
Risks
H1 EBITDA margin fell 310 bps to 9.5%. Q2 EBITDA down YoY. Inventory rose to ₹439.9 Cr from ₹355.8 Cr. Filtration revenue down 25.6% YoY.
Last quarter's promises, checked
Delivered
- Order book ~₹681.6 Cr at Mar-26 with 'healthy visibility' → ₹1,087.3 Cr in Q2 FY27 (= BEAT)
- GLE recovery momentum → Q2 GLE ₹195.4 Cr, +24.2% YoY (= BEAT)
Partly delivered
- Consol revenue ~₹2,000 Cr in ~2 yrs (FY26 ₹1,353 Cr) → H1 FY27 +2.0% YoY (= PARTIAL, horizon open)
Missed
- Heat transfer 15-20% growth p.a. for 2 yrs → Q2 ₹48.8 Cr, -12.3% YoY (= MISS)
- Consol EBITDA margin 14-15% in FY27 → H1 9.5% (= MISS, tracking)
- 16% EBITDA margin ex-Omeras in 2 yrs, ongoing margins trending up → H1 consol 9.5% vs 12.6% PY (= MISS, not like-for-like)
Investor Presentation filed with NSE, NSE: HLEGLAS. Summary written with AI assistance from the document.
HLE Glascoat Ltd: key numbers
- Share price
- ₹413.05
- Market cap
- ₹2,869 Cr
- Revenue (annual)
- ₹1,353 Cr
- Net profit (annual)
- ₹49.42 Cr
- P/E (TTM)
- 75.3×Sector 52.6×
- Promoter holding
- 65.64%+0.00% QoQ
- FII holding
- 1.60%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from HLE Glascoat Ltd
All →HLE Glascoat Earnings Call Transcript: Key Takeaways
Record ₹1,087 Cr order book (+51% YoY) but Q2 EBITDA margin 11.2%, H1 EBITDA down 23% YoY; Omeras barely breakeven, Kinam execution lumpy.
HLE Glascoat Results Update
HLE Glascoat reported Q2 FY27 revenue of ₹346.7 Crore, up 15.3% quarter on quarter. Its order book reached a record ₹1,087.3 Crore.
HLE Glascoat Q2 FY27 Results: Net Profit ₹16 Cr, Up 14.3% YoY
HLE Glascoat Ltd reported revenue from operations of ₹346.7 Cr (-1.2% YoY) and net profit of ₹16 Cr (+14.3% YoY) for Q2 FY27.
- Key figure
- Net profit ₹16 Cr · +14.3% YoY
HLE Glascoat Board Meeting Date
HLE Glascoat scheduled a board meeting for November 2, 2026 to approve Q1 and H1 2026-27 financial results. The trading window for the quarter was closed from October 1, 2026.
HLE Glascoat Other Announcement
HLE Glascoat Ltd has filed its quarterly shareholding pattern for the period ended September 30, 2026, in compliance with SEBI listing regulations.
HLE Glascoat Merger & Restructuring
HLE Glascoat's subsidiary Thaletec GmbH transferred its 100% stake in HLE Surface Technologies GmbH to HLE International S.à.r.l. for group structure rationalization.