Glass Wall Systems Q2 FY27 results: net profit ₹45.90 crore

How did Glass Wall Systems perform in Q2 FY27?

Glass Wall Systems (India) Limited’s consolidated results for Q2 FY27, the July–September 2026 quarter, showed revenue of ₹238.93 crore, other income of ₹4.92 crore and total expenses of ₹183.06 crore. EBITDA was ₹60.48 crore, with an EBITDA margin of 25.3%. Profit before tax was ₹60.78 crore, tax was ₹14.88 crore, and profit for the period was ₹45.90 crore. Basic EPS was ₹5.40. There was no exceptional item.

Compared with Q1 FY27, revenue rose 122.4% from ₹107.45 crore, total income rose 121.8% from ₹109.94 crore, and EBITDA rose 163.6% from ₹22.94 crore. The EBITDA margin increased 4.0 percentage points from 21.3%, while profit for the period rose 165.3% from ₹17.30 crore and basic EPS increased from ₹2.04 to ₹5.40. The filing also reported standalone revenue of ₹216.82 crore and standalone profit of ₹39.17 crore. A year-ago quarter comparison was not provided in the facts.

What do the balance sheet and cash flow show?

At 30 September 2026, Glass Wall Systems reported total assets of ₹618.24 crore, total equity of ₹361.97 crore, borrowings of ₹0.00 crore and cash of ₹35.23 crore. Inventories were ₹55.0 crore, trade receivables were ₹101.97 crore and trade payables were ₹104.76 crore. The previous balance-sheet date comparison was not provided, so the direction of the change cannot be stated from the available figures.

For H1 FY27, operating cash flow was ₹58.38 crore and investing cash flow was ₹105.17 crore, while financing cash flow was ₹49.34 crore. Capital expenditure was ₹12.29 crore. A year-earlier H1 cash-flow comparison was not provided, and the closing cash figure was not given in the available facts.

What else did the company announce?

The company’s board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 3 November 2026. The results were reviewed and recommended by the Audit Committee, and the limited review report issued by M/s. SR B C & CO LLP contained no qualification. The same-day filing did not announce a dividend or a fund raise, and it did not include any appointment.

A 28 October 2026 filing had scheduled the board meeting for 3 November 2026 to consider and approve the results and stated that the trading window for designated persons would remain closed until 48 hours after the declaration of the results. The same-day board filings did not provide further details on dividends, fundraising or appointments.

What did Glass Wall Systems' management say?

In the earnings call on 13 October 2026, management guided to FY27 revenue growth of about 25%, an EBITDA margin of 23–25% and a PAT margin of 18–20% at the consolidated level. Management also targeted medium-term revenue CAGR of 20–25%, commissioning of the glass processing unit within 8 months and an expected margin uplift of 1–1.5%. The company’s order-book strategy was described as maintaining 18–24 months of visibility.

MD and CEO Eshan Hemrajani said that the order book as of 31 July was Rs.982 crores and that it was almost twice the revenue of the previous year, providing visibility for the next 18 to 24 months. He also said: “if you adjust the freight down on the revenue and the cost side, the margin obviously increases by around 1.5%, right? So that is what has happened... So the margin hasn't deteriorated at all to that extent. It is at par with what we have delivered over the last financial year and what we are committing to deliver this year.”

Management identified project-based revenue timing, seasonality, US tariff and duty exposure, and lumpier international deliveries concentrated in Q3 or Q4 as risks. The company’s priorities included domestic turnkey façades, international B2B product supply, premium fenestration, export expansion into the US and Australia, and backward integration through the glass processing unit. No analyst questions or concerns were recorded in the available facts.

How did Glass Wall Systems shares react?

The filing was released after market. Against the previous close of ₹275.70, the stock was up 1.7% after 5 minutes, 3.0% after 15 minutes and 2.9% after 30 minutes. By the close of the reaction day, it was down 4.7% from the pre-results close.

By the next day's close, the stock was down 2.1% from its pre-results close, and by the fifth session's close it was down 9.8%. The Nifty Microcap 250 was down 0.2% on the reaction day, down 3.0% by the next day's close and down 1.0% by the fifth session's close. No industry median comparison or earlier results-day moves were provided in the available facts.