Board Meeting Outcome

The Board of Directors meeting was held on July 16, 2026, from 2:15 PM to 3:30 PM. The Board approved the Unaudited Financial Results (Standalone & Consolidated) for the quarter ended June 30, 2026, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Standalone Financial Results (Q2 FY26)

Income Statement Highlights:

  • Revenue from Operations: ₹40,569.07 lakhs
  • Other Income: ₹1,398.89 lakhs
  • Total Income: ₹41,967.96 lakhs
  • Total Expenses: ₹30,133.23 lakhs
  • Profit Before Exceptional Items and Tax: ₹11,834.73 lakhs
  • Exceptional Items: Nil (compared to ₹32,590.81 lakhs in Q2 FY25)
  • Profit Before Tax: ₹11,834.73 lakhs
  • Tax Expense: ₹3,064.18 lakhs (Current Tax: ₹3,052.85 lakhs, Deferred Tax: ₹22.50 lakhs, Income Tax of earlier years: ₹(11.17) lakhs)
  • Profit for the Period: ₹8,770.55 lakhs
  • Other Comprehensive Income: ₹(19.29) lakhs
  • Total Comprehensive Income: ₹8,751.26 lakhs

Key Metrics:

  • Paid-up Equity Share Capital: ₹1,402.83 lakhs (Face value of Re. 1/- each)
  • Basic EPS (after Exceptional Items): ₹6.25* (not annualized)
  • Diluted EPS (after Exceptional Items): ₹6.25* (not annualized)
  • Basic EPS (before Exceptional Items): ₹6.25* (not annualized)
  • Diluted EPS (before Exceptional Items): ₹6.25* (not annualized)

Consolidated Financial Results (Q2 FY26)

Income Statement Highlights:

  • Revenue from Operations: ₹40,569.07 lakhs
  • Other Income: ₹1,398.86 lakhs
  • Total Income: ₹41,967.93 lakhs
  • Total Expenses: ₹30,240.29 lakhs
  • Profit before share of profit in associate, exceptional items and tax: ₹11,727.64 lakhs
  • Share of profit in associates: ₹61.69 lakhs
  • Profit before exceptional items and tax: ₹11,789.33 lakhs
  • Exceptional Items: Nil (compared to ₹22,230.95 lakhs in Q2 FY25)
  • Profit Before Tax: ₹11,789.33 lakhs
  • Tax Expense: ₹3,125.29 lakhs (Current Tax: ₹3,121.20 lakhs, Deferred Tax: ₹15.26 lakhs, Income Tax of earlier years: ₹(11.17) lakhs)
  • Profit for the Period: ₹8,664.04 lakhs
  • Other Comprehensive Income: ₹(53.37) lakhs
  • Total Comprehensive Income: ₹8,610.67 lakhs

Key Metrics:

  • Paid-up Equity Share Capital: ₹1,402.83 lakhs
  • Basic EPS (after Exceptional Items): ₹6.19* (not annualized)
  • Diluted EPS (after Exceptional Items): ₹6.19* (not annualized)
  • Basic EPS (before Exceptional Items): ₹6.19* (not annualized)
  • Diluted EPS (before Exceptional Items): ₹6.19* (not annualized)

Preferential Issue and Warrant Conversion

During the quarter ended June 30, 2026, the Company received ₹374.99 lakhs from warrant holders upon exercise of rights attached to their warrants by paying the balance 75%. Accordingly, 94,338 fully paid-up equity shares of Re. 1/- each were allotted. This increased paid-up Equity Share Capital by ₹0.94 lakhs and Securities Premium by ₹499.05 lakhs.

The Company has overall raised ₹23,889.22 lakhs under the preferential issue, with remaining amount to be received until August 13, 2026, when warrant holders exercise conversion options.

Fund Utilization:

  • ₹18,500.00 lakhs utilized towards satisfaction of liability arising from Standby Letter of Credit extended as security to lenders of GMB Glasmanufaktur Brandenburg GmbH
  • ₹5,014.23 lakhs utilized towards capital expenditure for production capacity expansion
  • Remaining amount temporarily invested in mutual funds pending utilization

Additionally, from a previous preferential issue (69,43,691 equity shares at ₹535/- each raising ₹37,148.75 lakhs), ₹8,552.17 lakhs was utilized for capital expenditure and general corporate purpose, with remaining amount temporarily invested in mutual funds.

Exceptional Items Disclosure

Exceptional items for quarter ended June 30, 2025, and year ended March 31, 2026, represent:

  • Provision for impairment/amount written off in respect of exposure towards German subsidiaries (Geosphere Glassworks GmbH and GMB Glasmanufaktur Brandenburg GmbH) pursuant to insolvency proceedings
  • Impairment of ₹3,387.04 lakhs towards exposure in Laxman AG, a wholly owned subsidiary

Segment Information

The Company is engaged mainly in the business of manufacturing Flat Glass, which is a single segment as per Ind AS-108.

Revenue Breakdown (Standalone):

  • Within India: ₹39,140.34 lakhs (96.5% of total)
  • Outside India: ₹1,428.73 lakhs (3.5% of total)
  • Total: ₹40,569.07 lakhs

Revenue Breakdown (Consolidated):

  • Within India: ₹39,140.34 lakhs (96.5% of total)
  • Outside India: ₹1,428.73 lakhs (3.5% of total)
  • Total: ₹40,569.07 lakhs

Subsidiaries and Associates

The consolidated results include:

Subsidiaries:

  • Laxman AG
  • Interfloat Corporation

(Total revenue: ₹41.88 lakhs, Net loss: ₹(147.12) lakhs for Q2 FY26)

Associates:

  • ReNew Green (GJS Two) Private Limited
  • Clean Max Prithvi Private Limited

(Share of net profit: ₹61.69 lakhs for Q2 FY26)

Auditor Review

Chaturvedi & Shah LLP conducted limited review of both standalone and consolidated financial results and issued unmodified review reports dated July 16, 2026.