Date: 10th August, 2026

Financial Performance Summary

HLE Glascoat Limited announced its unaudited consolidated financial results for the quarter ended 30th June, 2026 (Q1FY27).

Key Financial Metrics (Consolidated in ₹ Cr)

| Metric | Q1 FY27 | Q1 FY26 | Y-o-Y Change | Q4 FY26 | Q-o-Q Change | FY26 | FY25 | Y-o-Y FY |

| Revenue from Operations | ₹300.8 | ₹283.9 | +5.9% | ₹391.7 | -23.2% | ₹1,353.0 | ₹1,027.5 | +31.7% |

| EBITDA (includes other income) | ₹22.6 | ₹39.8 | -43.2% | ₹43.9 | -48.5% | ₹148.5 | ₹140.9 | +5.4% |

| EBITDA Margin | 7.5% | 14.0% | -650 bps | 11.2% | -370 bps | 11.0% | 13.7% | -270 bps |

| Profit Before Tax | ₹4.4 | ₹22.9 | -80.9% | ₹25.7 | -83.0% | ₹77.6 | ₹75.1 | +3.4% |

| Profit After Tax | ₹2.1 | ₹17.9 | -88.5% | ₹20.1 | -89.8% | ₹56.6 | ₹61.8 | -8.4% |

| PAT Margin | 0.7% | 6.3% | -560 bps | 5.1% | -440 bps | 4.2% | 6.0% | -180 bps |

Segment Wise Performance (₹ Cr)

Revenue by Segment:

  • Filtration, Drying and Other Equipment: ₹96.8 (Q1FY27) vs ₹115.1 (Q1FY26), -15.9% YoY
  • Glass Lined Products: ₹193.1 (Q1FY27) vs ₹129.6 (Q1FY26), +49.0% YoY
  • Heat Transfer Equipment: ₹10.6 (Q1FY27) vs ₹38.6 (Q1FY26), -72.6% YoY

EBIT by Segment:

  • Filtration, Drying and Other Equipment: ₹11.7 (Q1FY27) vs ₹16.1 (Q1FY26), -27.8% YoY
  • Glass Lined Products: ₹6.2 (Q1FY27) vs ₹10.5 (Q1FY26), -40.9% YoY
  • Heat Transfer Equipment: ₹-4.1 (Q1FY27) vs ₹5.8 (Q1FY26), -170.4% YoY

Operational Highlights

  • Order book as on 30th June, 2026 stood at ₹662.1 Cr
  • Order book grew further to ₹713.8 Cr as at 31st July, 2026
  • Company continues to receive enquiries for orders across all business segments

Management Commentary

Mr. Himanshu K. Patel, Managing Director, commented:

  • Quarter witnessed temporary moderation due to geopolitical uncertainties and global economic volatility
  • These factors resulted in delayed delivery acceptance of certain key orders, especially in Heat Transfer segment
  • Latter half of quarter showed early signs of improvement with demand emanating from end-user industries
  • Customer enquiries improving and several previously deferred projects moving towards finalisation
  • Revival in activity across key sectors provides confidence for order book momentum in coming quarters
  • Company maintains leadership position across key business segments supported by technological capabilities
  • Increasing adoption of process automation and capacity expansion in pharmaceutical and specialty chemical industries creating favorable growth environment
  • Focused on disciplined execution, customer engagement, cost optimization, and capability strengthening
  • Positive demand indicators from end-user industries are encouraging
  • Coming quarters look promising for capitalizing on emerging opportunities

Corporate Structure Notes

  • All financial numbers are for HLE Glascoat Limited (Consolidated)
  • Company completed acquisition of 70% ownership in Kinam Engineering effective from 7th August, 2023
  • NCLT approval of Scheme of Amalgamation received on 14th August, 2025
  • Numbers include financials of HLE Surface Technologies GmbH w.e.f. 28th July, 2025
  • Numbers include financials of OmeraStore GmbH w.e.f. 13th August, 2025

Business Overview

HLE Glascoat is engaged in manufacturing chemical process equipment, filtration, drying, heat transfer and glass lined products. Key product segment is Filtration and Drying Equipment with flagship products being Agitated Nutsche Filters and Dryers. The company operates four manufacturing facilities in Western India and one in Germany.

Acquisition History

  • Acquired global business of Thaletec GmbH, Germany in December 2021 (specialized glass lined process equipment)
  • Owns 70% in Kinam Engineering Industries (heat exchangers, pressure vessels)
  • Thaletec GmbH acquired assets and global business of Omeras GmbH and shares of OmeraStores GmbH in August 2025