HLE Glascoat
- Market cap
- ₹ 2,535 Cr.
- P/E
- 65.6x
- P/B
- 4.99x
- 52-week range
- 250 – 661.95
- ROE
- 11%
- ROCE
- 12%
- Dividend yield
- 0.3%
- Debt / equity
- 0.65
- Sector
- Industrial Manufacturing
- Industry
- Industrial Products
- Listed on
- NSE, BSE
About
HLE Glascoat Limited is an India-based company specialized in the business of manufacturing chemical process equipment. The Company’s segments include Glass Lined Equipment, Filtration, Drying and Heat Transfer Equipment. The Glass Lined Equipment business is engaged in manufacturing carbon steel glass lined equipment, such as reactors, receivers, storage tanks, columns, agitators, valves, pipes and fittings, and other similar equipment, related spares, and accessories. The Filtration, Drying and Other Equipment business is engaged in manufacturing of agitated filters and dryers, rotary vacuum paddle dryers, other chemical process equipment and related spares and accessories. The Company’s products in the engineering business (filtration and drying equipment and glass-lined equipment) are predominantly used by the manufacturers of active pharma ingredients (API). The Company operates four manufacturing facilities in Western India and two in Germany.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Industrial Products: 186 companies →HLE Glascoat against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)65.6 against a typical 30.9: pricier than most peers (1st = cheapest).145th of 184
- Sales growth+5.9% against a typical +20.3% from a year earlier.97th of 147
- Profit growth−88.5% against a typical +9.4% from a year earlier.105th of 121
- Share price, 3 months−4.3% against a typical −3.7%.85th of 164
- Size₹ 2,535.1 Cr. market value against a typical ₹ 305.2 Cr. (1st = largest).31st of 176
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety
Rated A by ICRA- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | [ICRA]A | Stable | 19 Aug 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 19 Aug 2026 | Reaffirmed | [ICRA]A | — | ICRA | ₹ 577.5 Cr. | |
| 17 Jul 2026 | Reaffirmed | [ICRA]A | — | ICRA | ₹ 577.5 Cr. |
Research by Minerva Capital Research Solutions
Our research team's work on HLE GlascoatAlso covered in
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 2 Nov 2026Upcoming | Financial Results | To consider and approve quarterly and half yearly Standalone and Consolidated Financial results for the period ended on September 30, 2026 |
| 10 Aug 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 18 May 2026 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2026 and dividend on equity shares, if any. |
| 10 Feb 2026 | Financial Results | To consider and approve the financial results for the period ended December 31, 2025 |
| 10 Nov 2025 | Financial Results | To consider and approve the financial results for the period ended September 30, 2025 |
| 11 Aug 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
| 19 May 2025 | Financial Results/Dividend | To consider and approve the financial results for the period ended March 31, 2025 and dividend |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 224 | 239 | 307 | 227 | 236 | 231 | 334 | 284 | 351 | 327 | 392 | 301 |
| Expenses | 198 | 215 | 270 | 205 | 202 | 205 | 282 | 246 | 313 | 305 | 349 | 280 |
| Operating Profit | 26 | 25 | 36 | 22 | 34 | 26 | 52 | 38 | 38 | 21 | 43 | 21 |
| OPM % | 11.8% | 10.3% | 11.9% | 9.6% | 14.5% | 11.1% | 15.6% | 13.2% | 10.9% | 6.5% | 10.9% | 7% |
| Other Income | 2 | 1 | 2 | 2 | 1 | 2 | 2 | 2 | −1 | 0 | 1 | 2 |
| Interest | 6 | 10 | 10 | 9 | 9 | 9 | 9 | 9 | 9 | 8 | 9 | 8 |
| Depreciation | 6 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 9 | 10 | 10 | 10 |
| Profit before tax | 16 | 8 | 21 | 7 | 20 | 11 | 37 | 23 | 19 | 4 | 25 | 4 |
| Tax % | 33% | 27.4% | 30% | 21.8% | 26.2% | 9.8% | 15% | 21.9% | 27.1% | −26% | 20.2% | 52.9% |
| Net Profit | 11 | 6 | 15 | 5 | 14 | 10 | 32 | 18 | 14 | 5 | 20 | 2 |
| EPS in Rs | 1.47 | 0.44 | 1.45 | 0.5 | 1.86 | 1.24 | 2.98 | 2.16 | 1.73 | 0.41 | 2.62 | 0.4 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- —
- 5 Years
- 23%
- 3 Years
- 13%
- TTM
- 26%
- 10 Years
- —
- 5 Years
- 1%
- 3 Years
- −8%
- TTM
- −30%
- 10 Years
- 30%
- 5 Years
- −15%
- 3 Years
- −18%
- TTM
- —
- 10 Years
- —
- 5 Years
- 15%
- 3 Years
- 10%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| HLE Glascoat | ₹ 419.00 | ₹ 2,535 Cr. | 65.6x | 5x | 11% | — |
| Grindwell Norton | ₹ 1,858.00 | ₹ 20,572 Cr. | 55.4x | 9.1x | 17.4% | 13.6% |
| Carborundum Universal | ₹ 1,031.30 | ₹ 19,647 Cr. | 71.3x | 5.2x | 5.2% | 3.2% |
| Kajaria Ceramics | ₹ 1,137.65 | ₹ 17,896 Cr. | 38x | 6.4x | 16.8% | 10.2% |
| Century Plyboards (India) | ₹ 636.25 | ₹ 14,165 Cr. | 65.9x | 6.8x | 10.6% | 5% |
| Jindal SAW | ₹ 233.30 | ₹ 14,864 Cr. | 17.4x | 1.4x | — | 3.3% |
Management
- Achal Savits Thakkar
- Compliance Officer, Company Secretary
- Himanshu Khushalbhai Patel
- Managing Director, Executive Director
- Aalap Patel
- Executive Director
- Harsh Khushalbhai Patel
- Whole-Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.