BSE: 544656
HRS ALUGLAZE LIMITED
Manufactures and installs architectural aluminum systems for buildings — windows, facades, glass railings, parallel operable windows, vents and aluminum composite cladding — at a facility in Rajoda, Ahmedabad. Work is project-based, sourced from real estate and infrastructure clients such as Sant Realcon, PSP Projects, KEC International, Aaryan Build Projects, Galaxy Real Estate Developers and MICRON's Gujarat semiconductor facility. The subsidiary Geotrix Private Limited (67% stake, began operations April 1, 2026) adds facade and glazing system manufacturing and installation under an exclusive strategic licence. A uPVC production line was commissioned and a 422 kW rooftop solar plant installed in FY26. The cost structure is dominated by materials — aluminum, glass and related inputs — at 53.5% of revenue, with employees at 8.9% and other operating expenses at 17.4%. FY26 revenue of Rs 67.5 crore grew 60% from Rs 42.1 crore in FY25, with EBITDA of Rs 17.9 crore at 26.6% margin. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Architectural aluminum solutions, Facade and glazing systems (via Geotrix Pvt Ltd), uPVC products. Small-cap, project-based, asset-heavy architectural aluminum fabrication and installation
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 68 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 6.58 |
| ROE % · ROCE % | — · 16.2 |
| Debt / equity (x) | — |
| Cash from operations | (11) |
| Capex | (24) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 41 |
| Profit before tax | 8 |
| Net profit | — |
| EPS (₹) | 3.33 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,786 | 97.2 | 24.93 | 80.7 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 29,194 | 78.7 | 9.52 | 50.8 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 27,680 | 50.5 | 6.20 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 22,459 | 64.9 | 4.72 | 31.9 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 21,078 | 65.5 | 10.53 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 17,356 | 99.3 | 6.05 | 56.2 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,374 | 469.7 | 3.93 | 40.0 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,314 | 48.4 | 7.32 | 50.2 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 76.6 | 26.5 | 103 of 130 | 21% |
| ROCE | 13.6 | 11.3 | 57 of 142 | 60% |
| Market cap | 492 | 279 | 63 of 141 | 56% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting to approve half-year financial results | results | low | — | — |
| 6 Oct 2026 · RTA certificate under Reg 74(5) for quarter ended September 2026 | compliance | minimal | — | — |
| 2 Oct 2026 · HRS Aluglaze 14th AGM: All 8 resolutions passed with 100% approval | compliance | minimal | — | — |
| 30 Sept 2026 · HRS Aluglaze 14th AGM held; voting results pending | board shareholder meetings | medium | — | — |
| 26 Sept 2026 · Trading Window Closure for H2 FY26 Results | compliance | minimal | — | — |
| 23 Sept 2026 · HRS Aluglaze to hold investor/analyst meet on 25 Sept 2026 | board shareholder meetings | low | — | — |
| 10 Sept 2026 · 14th AGM Notice Re-published in Gujarati Edition; E-Voting Details | compliance | minimal | — | — |
| 9 Sept 2026 · HRS Aluglaze submits newspaper publication of 14th AGM notice and e-voting details | compliance | minimal | — | — |
| 7 Sept 2026 · Notice of 14th AGM of HRS Aluglaze Limited on September 30, 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · HRS Aluglaze files FY26 Annual Report, PAT nearly doubles to Rs 10.2 cr | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.