Corporate Overview
La Opala RG Limited is a manufacturer of opal glass and crystal glass tableware. The company pioneered opal glass technology in India in 1989 and crystal glass technology in 1995. It operates 3 manufacturing facilities with total capacity of 32,000 MTPA (31,000 MTPA opalware in Sitarganj, Uttarakhand and 1,000 MTPA crystalware in Madhupur, Jharkhand). The company has pan-India presence with 225 distributors and 23,000+ dealers, and exports to 40+ countries. It employs 900+ people and manages 4 brands with 10 sub-brands.
Financial Performance - Q4 FY26
Revenue From Operations: ₹683.95 lakhs (Q4 FY25: ₹771.00 lakhs), decrease of 11.29%
Other Income: ₹327.48 lakhs (Q4 FY25: ₹1,178.14 lakhs), decrease of 72.20%
Total Income: ₹716.69 lakhs (Q4 FY25: ₹888.81 lakhs), decrease of 19.37%
EBITDA: ₹280.83 lakhs (Q4 FY25: ₹384.83 lakhs), decrease of 27.02%
EBITDA (Excluding Other Income): ₹248.09 lakhs (Q4 FY25: ₹267.02 lakhs), decrease of 7.09%
EBITDA Margin: 41.06% (Q4 FY25: 49.91%)
EBITDA Margin (Excluding Other Income): 36.27% (Q4 FY25: 34.63%)
PBT: ₹217.60 lakhs (Q4 FY25: ₹325.94 lakhs), decrease of 33.24%
PAT: ₹161.66 lakhs (Q4 FY25: ₹256.94 lakhs), decrease of 37.08%
Financial Performance - Full Year FY26
Revenue From Operations: ₹3,090.65 lakhs (FY25: ₹3,318.64 lakhs), decrease of 6.87%
Other Income: ₹321.96 lakhs (FY25: ₹477.34 lakhs), decrease of 32.55%
Total Income: ₹3,412.60 lakhs (FY25: ₹3,795.98 lakhs), decrease of 10.10%
EBITDA: ₹1,461.32 lakhs (FY25: ₹1,560.24 lakhs), decrease of 6.34%
EBITDA (Excluding Other Income): ₹1,139.37 lakhs (FY25: ₹1,082.90 lakhs), increase of 5.21%
EBITDA Margin: 47.28% (FY25: 47.01%)
EBITDA Margin (Excluding Other Income): 36.86% (FY25: 32.63%)
PBT: ₹1,203.86 lakhs (FY25: ₹1,324.42 lakhs), decrease of 9.10%
PAT: ₹923.03 lakhs (FY25: ₹965.85 lakhs), decrease of 4.43%
Net Debt (period end): ₹82.93 lakhs (FY25: ₹102.78 lakhs), decrease of 19.32%
Net Current Investment (period end): ₹5,209.56 lakhs (FY25: ₹5,108.96 lakhs), increase of 1.97%
Key Financial Notes
Income from Debt Mutual Fund, included in other income, was lower by ₹898.90 lakhs in Q4 FY26 and ₹1,046.12 lakhs for full year FY26 compared to corresponding previous periods. The decline was primarily driven by mark-to-market impact on investments in Debt Mutual Fund due to geopolitical situation globally. The funds were predominantly invested in highly rated short to medium-duration instruments.
Balance Sheet Highlights (as of March 31, 2026)
Total Assets: ₹8,945.82 lakhs (FY25: ₹9,011.54 lakhs)
Property, Plant & Equipment: ₹1,584.66 lakhs (FY25: ₹1,759.01 lakhs)
Inventories: ₹899.81 lakhs (FY25: ₹706.42 lakhs)
Investments (Current): ₹5,209.56 lakhs (FY25: ₹5,108.96 lakhs)
Trade Receivables: ₹298.15 lakhs (FY25: ₹286.79 lakhs)
Equity Share Capital: ₹222.00 lakhs (unchanged from FY25)
Other Equity: ₹7,981.60 lakhs (FY25: ₹8,021.71 lakhs)
Secured Loan: ₹82.93 lakhs (FY25: ₹102.78 lakhs)
Cash Flow Statement FY26
Net Cash from Operating Activities: ₹676.11 lakhs (FY25: ₹1,122.09 lakhs)
Net Cash from Investing Activities: ₹226.22 lakhs (FY25: ₹25.49 lakhs)
Net Cash from Financing Activities: ₹(902.24) lakhs (FY25: ₹(1,148.65) lakhs)
Net Increase/(Decrease) in Cash & Cash Equivalents: ₹0.09 lakhs (FY25: ₹(1.07) lakhs)
Cash & Cash Equivalents at end of period: ₹1.06 lakhs (FY25: ₹0.97 lakhs)
Operational Metrics
Return on Capital Employed (ROCE): 28.11% (FY25: 25.66%)
Gross Profit Margin: 68.11% (FY25: 63.14%)
Operating Capital Employed: ₹2,358.63 lakhs (FY25: ₹2,357.85 lakhs)
Product Portfolio
The company maintains multiple brands and product collections including: La Opala MELODY, La Opala NOVO, Diva CLASSIQUE, Diva IVORY, Diva PEARL, Diva COSMO, Diva TEA & COFFEE, COOK SERVE STORE, SOLITAIRE CRYSTAL, Diva QUADRA, Diva SOVRANA, and Diva VELVETT.
Board of Directors
- Mr. Sushil Jhunjhunwala, Chairman
- Mr. Ajit Jhunjhunwala, Vice Chairman & MD
- Mrs. Nidhi Jhunjhunwala, Executive Director
- Mr. Subir Bose, Non-executive Independent Director
- Ms. Suparna Chakrabortti, Non-executive Independent Director