NSE: SEJALLTD · BSE: 532993
SEJAL GLASS LIMITED
Processes architectural glass for buildings — tempered, insulated, laminated, fire-rated, bullet-resistant and digital-printed units — sold to real estate, hospitality, commercial, healthcare and infrastructure projects in India and the Middle East. The reported business runs through a Glass Processing Division that converts flat glass into fabricated units, plus a small Trading Division that resells glass. India contributes around 72% of FY26 consolidated revenue and the UAE subsidiary contributes 28%, with Indian manufacturing at Silvassa and the recently integrated Glasstech plants at Taloja and Erode. Demand is being pulled by real estate, data centres, airports, metro, rail and healthcare projects, with energy-efficiency regulations accelerating insulated and laminated glass adoption. The UAE order book stood at AED 60 million, and in July 2026 the company added AED 27.6 million of GCC orders plus about INR 50 crore of Indian orders. Materials are the largest cost at 58.9% of revenue, followed by employee costs at 11.1% and other opex at 15.1%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Glass Processing Division, Trading Division, India operations, UAE operations. Asset-heavy architectural glass processor with India manufacturing and UAE distribution; recently expanded capacity via the Glasstech acquisition
Exhibit 1: Financial summary, FY21–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY21 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 10 | 46 | 164 | 244 | 397 |
| EBITDA (ex other income) | (13) | 3 | 20 | 34 | 61 |
| margin % | (126.5) | 5.9 | 12.4 | 13.9 | 15.5 |
| Owners' profit | (18) | 8 | 3 | 11 | 29 |
| EPS, as reported (₹) | (5.49) | 7.77 | 3.27 | 10.85 | 27.42 |
| ROE % · ROCE % | 12.2 · 9.9 | 56.1 · 9.6 | 11.3 · 9.3 | 28.6 · 15.5 | 19.1 · 15.4 |
| Debt / equity (x) | 0.00 | 2.23 | 4.76 | 4.11 | 0.98 |
| Cash from operations | 3 | (2) | (9) | (6) | 56 |
| Capex | 0 | 0 | 0 | (8) | (68) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 62 | 62 | 68 | 77 | 104 | 101 | 115 | 118 |
| Profit before tax | 3 | 3 | 4 | 5 | 8 | 6 | 11 | 8 |
| Net profit | 2 | 3 | 4 | 4 | 8 | 5 | 11 | 7 |
| EPS (₹) | 2.40 | 3.34 | 3.75 | 4.33 | 7.95 | 4.86 | 9.94 | 6.27 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Sejal Glass board meeting on Oct 13 to consider Q2 FY26-27 results | results | low | — | — |
| 7 Oct 2026 · Sejal Glass files routine RTA compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · Special window opened for re-lodgement of physical share transfers | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closure for Q2 and H1 FY27 results | compliance | minimal | — | — |
| 19 Sept 2026 · Dilesh Roadlines sells entire 0.88 percent stake in Sejal Glass via bulk deal | ownership changes | high | — | — |
| 27 Aug 2026 · Promoter TV Interview Recorded at UAE Subsidiary Premises | investor communications | low | — | — |
| 11 Aug 2026 · Sejal Glass Q1 FY27 earnings call transcript filed | investor communications | medium | — | — |
| 7 Aug 2026 · Sejal Glass Q1 FY27 results: standalone net profit rises to Rs 40.48 lakh | compliance | minimal | — | — |
| 5 Aug 2026 · Earnings call audio recording for Q1FY27 available online | investor communications | low | — | — |
| 3 Aug 2026 · Sejal Glass Q1 FY27 results published in newspapers showing strong YoY growth | compliance | minimal | — | — |
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.