| Revenue growth | Q2 ₹346.7 Cr, +15.3% QoQ; H1 +2% YoY; YoY Q2 not stated. |
|---|---|
| Margins | Q2 EBITDA 11.2%, H1 9.5%; management expects improvement, no peer comparison. |
| Order book | ₹1,087 Cr, +51% YoY, +64% QoQ; ₹775 Cr inflow in Q2. |
| Demand visibility | Order book ₹1,087 Cr; pharma inquiries improving; Europe subdued, US strong. |
| Management confidence | Over-optimistic: reiterates targets, pushes back, 'very confident' despite H1 EBITDA down 23%. |
Growth
Q2 revenue +15.3% QoQ, glass-lined +24.2% YoY; H1 revenue only +2% YoY; H1 EBITDA -23% YoY, margin 9.5%.
Outlook
Reiterates 15% EBITDA margin, ₹2,000 Cr revenue for FY28; India GLE FY27 revenue ₹260–280 Cr guided.
Risks
Working capital days rose to 102 from 80; Omeras H1 EBITDA breakeven but PBT loss; Kinam execution lumpy for 12-18 months.
Last quarter's promises, checked
Delivered
- Thaletec ~20%, to strengthen → 22% of GLE India (= BEAT)
- Order book 'healthy visibility' → ₹1,087 Cr vs ₹681.6 Cr at Mar-26 (= BEAT)
Partly delivered
- Omeras breakeven by Q4 FY26 → H1 EBITDA breakeven, PBT loss (= PARTIAL)
- 80% GLE exit utilisation → ~75% (= PARTIAL)
- ₹2,000 Cr revenue in ~2 yrs → H1 revenue +2% YoY (= PARTIAL)
Missed
- 16% FY26 EBITDA margin (Q2 call) → 11% (= MISS)
- 14–15% consol EBITDA margin next FY → H1 9.5% (= MISS)
- Omeras double-digit margin FY27 → barely breakeven (= MISS)
Earnings Call Transcript 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 Investor Presentation: Key Takeaways
Q2 FY27 revenue ₹346.7 Cr (-1.2% YoY), EBITDA ₹39.0 Cr (11.2% margin), PAT ₹16.0 Cr (+14.8% YoY). Order book hit record ₹1,087.3 Cr.
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.