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HLE Glascoat Overview

HLE Glascoat Ltd, previously known as Swiss Glascoat Equipments Ltd is an India-based organization engaged in designing and manufacturing of carbon metal glass coated gadget. The Company's merchandise comprises AE & CE type reactors, rotary conical vacuum dryer (RCVD), agitated nutsche filter and drier (ANFD), heat exchanger/condenser, receivers/storage tanks, dryers, filters, columns and agitators. The Company offers accessories, such as valves, pipes and fittings. The Company offers its merchandise to pharmaceutical/active pharmaceutical ingr...Read More

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HLE Glascoat Key Financials

Market Cap ₹2235 Cr.

Stock P/E 36.2

P/B 4.4

Current Price ₹321.9

Book Value ₹ 73.7

Face Value 2

52W High ₹662

Dividend Yield 0.34%

52W Low ₹ 246.1

HLE Glascoat Share Price

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Volume
Price

HLE Glascoat Quarterly Price

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HLE Glascoat Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 224 239 307 227 236 231 334 284 351 327
Other Income 3 4 2 2 1 2 2 2 2 3
Total Income 228 243 309 229 237 233 336 286 353 330
Total Expenditure 198 215 270 205 202 205 282 246 313 305
Operating Profit 30 29 38 24 35 28 54 40 40 25
Interest 6 10 10 9 9 9 9 9 9 8
Depreciation 6 7 7 7 7 7 8 8 9 10
Exceptional Income / Expenses -2 -3 0 0 0 0 0 0 -3 -3
Profit Before Tax 16 8 21 7 20 11 37 23 19 4
Provision for Tax 5 2 6 2 5 1 6 5 5 -1
Profit After Tax 11 6 15 5 14 10 32 18 14 5
Adjustments -1 -3 -5 -2 -1 -2 -11 -3 -2 -2
Profit After Adjustments 10 3 10 3 14 8 20 15 12 3
Adjusted Earnings Per Share 1.5 0.4 1.5 0.5 2 1.2 3 2.2 1.7 0.4

HLE Glascoat Profit & Loss

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 359 426 442 644 923 960 1028 1296
Other Income 3 5 3 7 8 9 8 9
Total Income 362 431 445 652 931 969 1035 1305
Total Expenditure 313 354 354 531 783 842 891 1146
Operating Profit 49 77 92 120 147 126 144 159
Interest 15 13 11 14 25 33 39 35
Depreciation 7 7 7 10 22 26 30 35
Exceptional Income / Expenses 0 0 0 -9 0 -5 0 -6
Profit Before Tax 28 57 74 87 100 62 75 83
Provision for Tax 9 17 23 26 30 18 13 15
Profit After Tax 19 39 51 61 71 45 62 69
Adjustments -1 -1 1 -3 -1 -15 -15 -18
Profit After Adjustments 18 38 52 58 70 30 47 50
Adjusted Earnings Per Share 5.5 5.9 8 8.5 10.2 4.3 6.8 7.3

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 7% 17% 19% 0%
Operating Profit CAGR 14% 6% 13% 0%
PAT CAGR 38% 1% 10% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 14% -19% -6% 29%
ROE Average 14% 17% 28% 39%
ROCE Average 14% 18% 25% 28%

HLE Glascoat Balance Sheet

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 41 76 135 254 327 417 459
Minority's Interest 1 1 0 0 0 80 95
Borrowings 60 54 55 130 98 147 109
Other Non-Current Liabilities 4 4 5 43 63 71 56
Total Current Liabilities 188 200 182 333 407 487 568
Total Liabilities 294 335 377 759 894 1202 1288
Fixed Assets 85 94 119 244 317 540 589
Other Non-Current Assets 5 12 11 37 18 42 50
Total Current Assets 203 229 247 479 559 620 649
Total Assets 294 335 377 759 894 1202 1288

HLE Glascoat Cash Flow

#(Fig in Cr.) Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 6 1 10 25 3 33
Cash Flow from Operating Activities 49 45 48 1 5 95 134
Cash Flow from Investing Activities -15 -19 -29 -173 -40 -45 -68
Cash Flow from Financing Activities -29 -30 -10 160 13 -19 -60
Net Cash Inflow / Outflow 5 -5 9 -12 -22 31 6
Closing Cash & Cash Equivalent 6 1 10 25 3 33 40

HLE Glascoat Ratios

# Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 5.5 5.91 8 8.52 10.23 4.35 6.84
CEPS(Rs) 7.71 7.21 8.89 10.39 13.61 10.3 13.39
DPS(Rs) 0 0.9 0.8 1 1.1 1.1 1.1
Book NAV/Share(Rs) 9.31 11.47 17.31 36.97 47.75 61 67.28
Core EBITDA Margin(%) 12.86 16.99 19.95 17.49 15.14 12.23 13.24
EBIT Margin(%) 11.84 16.38 19.15 15.64 13.56 9.91 11.1
Pre Tax Margin(%) 7.65 13.25 16.75 13.47 10.86 6.48 7.3
PAT Margin (%) 5.15 9.18 11.56 9.42 7.67 4.63 6.01
Cash Profit Margin (%) 6.97 10.93 13.14 11.01 10.06 7.32 8.89
ROA(%) 6.31 12.46 14.36 10.68 8.56 4.25 4.96
ROE(%) 61.23 75.1 54.6 33.19 24.49 11.99 14.11
ROCE(%) 27.32 42.13 41.93 29.26 24.22 14.07 14.37
Receivable days 33.97 33.17 46.76 61.52 77.22 91.16 74.91
Inventory Days 133.36 121.78 124.26 117.76 106.01 110.28 120.98
Payable days 98.32 98.33 94.24 88.14 88.33 91.88 84.79
PER(x) 6.43 16.19 56.79 127.72 49.21 93.88 36.48
Price/Book(x) 3.8 8.35 26.25 29.43 10.54 6.69 3.71
Dividend Yield(%) 0 0.94 0.18 0.09 0.22 0.27 0.44
EV/Net Sales(x) 0.59 1.67 6.89 11.8 3.97 3.23 1.95
EV/Core EBITDA(x) 4.31 9.19 33.23 63.26 24.89 24.58 13.92
Net Sales Growth(%) 0 18.66 3.65 45.74 43.34 3.97 7.05
EBIT Growth(%) 0 64.24 21.15 18.97 24.33 -24 19.89
PAT Growth(%) 0 111.6 30.46 18.64 16.71 -37.15 38.78
EPS Growth(%) 0 7.45 35.32 6.47 20.02 -57.48 57.35
Debt/Equity(x) 3.79 1.32 0.81 0.82 0.76 0.87 0.76
Current Ratio(x) 1.08 1.14 1.36 1.44 1.37 1.27 1.14
Quick Ratio(x) 0.38 0.38 0.55 0.64 0.71 0.63 0.49
Interest Cover(x) 2.83 5.24 7.98 7.2 5.03 2.89 2.92
Total Debt/Mcap(x) 1 0.16 0.03 0.03 0.07 0.13 0.21

HLE Glascoat Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 66.69 66.69 66.69 66.69 66.69 66.69 66.78 65.64 65.64 65.64
FII 4.24 4.28 4.27 4.07 4.01 4.12 4.01 3.7 2.14 2.27
DII 3.94 3.77 3.57 3.52 3.52 3.52 4.01 4.04 4.48 4.87
Public 25.12 25.26 25.47 25.72 25.78 25.67 25.2 26.62 27.74 27.22
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

HLE Glascoat News

HLE Glascoat Pros & Cons

Pros

  • Debtor days have improved from 91.88 to 84.79days.
  • Company has reduced debt.

Cons

  • Stock is trading at 4.4 times its book value.
  • The company has delivered a poor profit growth of 9% over past five years.
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