Glass Wall Systems (India) Limited filed its unaudited consolidated financial results for Q1FY27 (quarter ended June 30, 2026) with the stock exchanges pursuant to Regulation 30 of SEBI LODR Regulations.

Financial Performance Highlights (Consolidated, ₹ Crores)

Revenue Breakdown:

  • Domestic façade: ₹62 crores (Q1FY27) vs ₹32 crores (Q1FY26), up 93.0% YoY
  • International business: ₹39 crores (Q1FY27) vs ₹44 crores (Q1FY26), down 11.6% YoY
  • Fenestration: ₹6 crores (Q1FY27) vs ₹3 crores (Q1FY26), up 126.9% YoY
  • Total Revenue from Operations: ₹107 crores (Q1FY27) vs ₹79 crores (Q1FY26), up 35.8% YoY

Profitability Metrics:

  • Material Margin: ₹61 crores (56.5% margin) vs ₹44 crores (55.6% margin) in Q1FY26
  • EBITDA: ₹23 crores (21.3% margin) vs ₹21 crores (26.6% margin) in Q1FY26
  • Profit After Tax: ₹17 crores (16.1% margin) vs ₹19 crores (23.7% margin) in Q1FY26
  • EPS: ₹2.0 vs ₹2.2 in Q1FY26

Full Year Comparison (FY26 vs FY25):

  • Revenue: ₹457 crores vs ₹278 crores, up 64.2%
  • EBITDA: ₹105 crores (23.0% margin) vs ₹73 crores (26.2% margin)
  • PAT: ₹84 crores (18.3% margin) vs ₹58 crores (20.7% margin)
  • EPS: ₹9.9 vs ₹6.2

Operational Highlights

Order Book: As of July 2026, the company maintained a strong order book of ₹982 crores.

Margin Pressure Factors:

  • Revenue mix shift with lower contribution from higher-margin international business
  • Increased employee costs due to manpower expansion for new capacity operationalization and periodic salary revisions
  • Change in freight cost accounting where company now bears freight costs for export customers (previously ex-factory billing)
  • Adjusted for contract term changes, EBITDA margin would have been 22.5% in Q1FY27

PAT Growth Constraints:

  • Lower other income (Q1FY26 included ₹1.6 crore from property sale)
  • Higher depreciation due to new capacity expansion commercialization

Management Commentary

Mr. Eshan Hemrajani, Managing Director & CEO, commented on the results:

  • Q1FY27 performance reflects strength of integrated façade solutions platform
  • Strategic priority on backward integration through in-house Glass Processing Unit at Vile Bhagad facility
  • Focus on disciplined execution of project pipeline, customer relationships, international expansion, and manufacturing capabilities
  • Strong visibility from ₹982 crore order book as of July 31, 2026
  • FY27 outlook: Significant revenue growth over FY26 with EBITDA margins in line with previous year

Company Background

Glass Wall Systems is a turnkey façade specialist providing integrated design, engineering, manufacturing and installation services for commercial, residential and institutional projects. The company has pan-India presence with operations in Mumbai, Bangalore, Delhi NCR, Kolkata, Ahmedabad, Hyderabad, and Pune, and international presence in USA, Australia, Qatar, Ireland, Sri Lanka, and Israel.

Investor Contact Information

Provided contacts for investor queries:

  • Mr. Sanjay Sawant (Company)
  • Mr. Ami Parekh, Mr. Umang Shah, Mr. Aadesh Pardeshi (SGAPL)