| Revenue Growth (YoY) | 52.89%Consolidated |
|---|---|
| Market Cap | ₹815.1 CrConstruction Materials |
| Net Profit Growth | 63.29%Year-on-Year |
| Piotroski Score | 8Financial Health |
Key highlights
- Consolidated revenue for Q1 FY27 reached ₹117.95 crore, up from ₹77.15 crore in the previous year.
- The UAE business continues to be the primary growth engine, contributing ₹81.52 crore to the top line.
- Management raised revenue growth guidance for FY27 to a potential 40% upside, surpassing initial estimates of 25%.
- A capital expenditure of AED 15 million is underway in the UAE to install a third tempering line expected by Q3 FY27.
- The company secured new orders exceeding ₹50 crore from prominent Indian developers including L&T and Godrej.
Financial Performance Analysis
Sejal Glass reported a significant 52.88% year-on-year increase in consolidated revenue for the June quarter, driven by aggressive execution in both domestic and international markets. The India business saw revenue grow by 67.03% to ₹36.43 crore, while UAE operations maintained strong momentum with revenue of ₹81.52 crore. Consolidated profit after tax (PAT) rose by more than 63% to ₹7.22 crore.
Despite these gains, EBITDA margins faced temporary pressure from a ₹1 crore incremental impact due to a new labor union agreement at the Taloja plant and rising logistics costs in the UAE.
Management Outlook and Guidance
The leadership team has provided a positive outlook for FY27, citing a healthy order pipeline and improved capacity utilization. While the minimum revenue growth guidance stands at 25%, management expressed confidence in reaching a 40% upward trend as geopolitical situations stabilize. The company aims for a blended PAT margin of 9-10% for the full fiscal year, expecting operating leverage to kick in significantly during the third and fourth quarters.
Management also highlighted a strategic shift toward value-added products, targeting a 10% revenue contribution from new verticals such as railway and fire-safety glass.
Operational Expansion and Capacity Utilization
- The UAE facility is currently operating at 71% utilization, with a target of 85% following the addition of a third tempering line.
- Domestic utilization stands at 77% for Silvassa and 55% for Taloja, with Erode ramping up from a low base of 15%.
- Total tempering capacity in the UAE is set to reach approximately 24 lakh square meters per annum upon completion of current capex.
- The company is exploring the automotive replacement market to further diversify its architectural glass core competency.
- Working capital cycles remain controlled at 98 days in India and 85 days in the UAE operations.
Key Strategic Initiatives
So, 25% is our minimum guidance, which we are, you know, 100% going to achieve. And secondly... once the situation will be stabilized, then we are hopeful that we will reach up to 40%.
What to Watch
- Commissioning of the fire-rated glass technology and the third tempering line in the UAE by Q3 end.
- Ramp-up of utilization at the Erode plant, which management targets to reach 25-30% in the coming quarters.
- Participation in Indian railway tenders as the company is now an approved vendor for Kapurthala and Chennai facilities.
- Impact of power factoring and cost-efficiency measures expected to provide a 0.25% improvement on operational costs.
“For FY27, as we had already said that our EBITDA will be improved by around 1%, and we are targeting the improvement on the PAT also. So, nearly 9% PAT we are expecting this year.”
“We are already supplying and we are now participating more aggressively on the railway, all tenders, all India. We are approved vendor for all the Kapurthala, Raibareli and Chennai manufacturing facilities.”
| Share price | ₹715 |
|---|---|
| Market capitalisation | ₹815.10 Cr |
| Revenue (annual) | ₹396.50 Cr |
| Net profit (annual) | ₹28.74 Cr |
| Revenue (latest quarter) | ₹117.95 Cr+2.97% vs previous quarter |
| Net profit (latest quarter) | ₹7.14 Cr-36.96% vs previous quarter |
| P/E (TTM) | 25.87×Sector 36.33× |
| Promoter holding | 69.96%0.00% QoQ |
| FII holding | 0.19%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Sejal Glass Limited announcing the transcript of the Earnings Call for the quarter ended June 30, 2026. Market figures from a third-party data provider.
