Company Overview
Sejal Glass Limited reported strong financial performance for FY 2025-26 with consolidated revenue of ₹401.36 crores, EBITDA of ₹66.32 crores, and PAT of ₹29.03 crores, representing significant growth from the previous year's PAT of ₹10.96 crores.
Strategic Developments
The company completed a major acquisition of Glasstech Industries' architectural glass business for ₹34.60 crores through a slump sale, acquiring manufacturing facilities at Taloja and Erode, along with technical know-how, intellectual property rights, and customer relationships. This expansion was complemented by fire-rated glass technology collaboration with Polymer Technology, Czech Republic, and commencement of façade panel manufacturing in UAE operations.
Capital Structure & Fundraising
Sejal Glass strengthened its capital base through a preferential issue of 13,00,000 equity shares at ₹555 each (raising ₹72.15 crores) and 4,00,000 convertible warrants (raising ₹22.20 crores with 25% upfront payment). The company's paid-up share capital stood at ₹31.40 crores as of March 31, 2026, including 20,00,000 7% redeemable preference shares.
Legal & Regulatory Matters
The NCLT, Mumbai Bench provided significant relief by quashing all pre-CIRP tax demands, orders, and penalties pertaining to periods prior to the CIRP approval date (March 26, 2021), eliminating historical tax liabilities and ordering refunds of amounts adjusted for non-eligible tax dues.
AGM & Corporate Governance
The 28th Annual General Meeting is scheduled for July 18, 2026, with agenda items including adoption of financial statements, reappointment of directors (Mr. Jiggar Savla as Whole-Time Director and independent directors for second terms), and reappointment of statutory auditors M/s Gokhale & Sathe for a second five-year term. No dividend was recommended for FY26 as profits were retained for growth initiatives.
Operational Performance
Manufacturing facilities showed varied utilization rates: Silvassa (64%), Ras Al-Khaimah, UAE (67%), with overall network capacity utilization at 54%. Revenue contribution was split 28% from India operations and 72% from UAE operations. The company expanded into specialized segments including fire-rated glass, bullet-resistant glass, and railway-grade glass.
Financial Position
Key financial positions included property, plant and equipment of ₹136.05 crores, inventories of ₹41.67 crores, trade receivables of ₹133.01 crores, and borrowings of ₹149.04 crores. The subsidiary Sejal Glass & Glass Manufacturing Products LLC contributed ₹28.67 crores to profit (98.75% of consolidated profit).
Forward Outlook
The company's Lakshya 2030 strategy focuses on Speed, Scale, and Sustainability, with continued integration of acquired capacities and expansion of specialized glass offerings to drive future growth.