Sejal Glass Q2 FY27 results: net profit up 77.6% to ₹14.42 crore, revenue up 32.8%

How did Sejal Glass perform in Q2 FY27?

Sejal Glass reported consolidated revenue of ₹138.09 crore for Q2 FY27, an increase of ₹34.10 crore or 32.8% from ₹103.99 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹20.14 crore or 17.1% from ₹117.95 crore. Total income was ₹139.86 crore, compared with ₹105.04 crore a year earlier and ₹119.44 crore in the previous quarter.

EBITDA rose to ₹23.90 crore from ₹16.83 crore in Q2 FY26, an increase of ₹7.07 crore or 42.0%. The EBITDA margin was 17.3%, up 1.1 percentage points year on year and 3.3 percentage points from 14.0% in Q1 FY27. Profit before tax increased to ₹15.56 crore from ₹8.06 crore, while net profit rose to ₹14.42 crore from ₹8.12 crore.

Basic EPS increased to ₹12.53 from ₹7.95 in Q2 FY26 and from ₹6.27 in Q1 FY27. On the standalone basis, revenue was ₹41.28 crore, down 20.0%, while PAT was ₹0.67 crore against a loss of ₹0.52 crore before exceptional items. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.

What changed in Sejal Glass' costs and profit?

Total expenses increased by ₹27.31 crore or 28.2% year on year to ₹124.29 crore. Cost of materials was ₹77.78 crore, up ₹18 crore or 30.1%; employee cost rose ₹3.62 crore or 33.2% to ₹14.52 crore; depreciation increased ₹0.67 crore or 16.5% to ₹4.73 crore; and other expenses rose ₹6.72 crore or 43.0% to ₹22.34 crore. Finance costs fell ₹0.39 crore or 6.8% to ₹5.37 crore.

Other income increased by ₹0.70 crore or 66.0% year on year to ₹1.76 crore. Tax expense rose by ₹0.53 crore or 68.8% to ₹1.30 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26, so the filing figures show the movement in profit after the reported cost lines, other income and tax without an exceptional-item adjustment.

Against Q1 FY27, total expenses were ₹13.18 crore or 11.9% higher. Cost of materials rose by ₹11.38 crore to ₹77.78 crore, employee cost by ₹0.11 crore to ₹14.52 crore, finance costs by ₹0.32 crore to ₹5.37 crore, depreciation by ₹0.09 crore to ₹4.73 crore and other expenses by ₹4.49 crore to ₹22.34 crore. Other income increased by ₹0.27 crore to ₹1.76 crore, while tax was ₹0.56 crore higher at ₹1.30 crore.

How did the first half of FY27 go?

In the first half of FY27, consolidated revenue increased by ₹74.90 crore or 41.3% to ₹256.04 crore from ₹181.14 crore in H1 FY26. Total income rose by ₹76.48 crore or 41.8% to ₹259.29 crore from ₹182.81 crore, while profit before tax increased by ₹10.81 crore or 82.6% to ₹23.89 crore from ₹13.08 crore.

H1 FY27 net profit was ₹21.63 crore, up ₹9.10 crore or 72.6% from ₹12.53 crore in H1 FY26. Basic EPS increased by ₹6.51 or 53.0% to ₹18.79 from ₹12.28. The half-year results were part of the unaudited financial statements approved by the board on 13 October 2026.

What do the balance sheet and cash flow show?

At 30 September 2026, consolidated total assets were ₹519.39 crore, compared with ₹470.50 crore on 31 March 2026. Total equity rose to ₹174.39 crore from ₹152.09 crore, while borrowings increased to ₹154.73 crore from ₹149.04 crore and cash and cash equivalents were ₹23.32 crore against ₹11.65 crore.

Inventories increased to ₹48.59 crore from ₹41.67 crore, trade receivables to ₹146.42 crore from ₹133.01 crore and trade payables to ₹81.85 crore from ₹68.83 crore. A corrigendum published on 15 October 2026 corrected an interchange in standalone other current assets and current tax assets; the company said it did not affect total assets, equity, profit, EPS or cash flow.

H1 FY27 operating cash flow was ₹34.88 crore, compared with ₹41.06 crore in H1 FY26. Investing cash flow was negative ₹20.29 crore against negative ₹48.52 crore, while financing cash flow was negative ₹2.93 crore against positive ₹8.25 crore. Capital expenditure was ₹22.68 crore, compared with ₹50.51 crore a year earlier.

How has Sejal Glass done over the last 8 quarters?

Revenue and profit both reached their highest levels of the period in Q2 FY27. Revenue rose from ₹61.61 crore in Q3 FY25 to ₹138.09 crore in Q2 FY27, while PAT moved from ₹3.40 crore to ₹14.42 crore. The quarter also recorded the highest EBITDA margin in the series at 17.3%.

The low points in the supplied period were Q3 FY25, when revenue was ₹61.61 crore, PAT was ₹3.40 crore and the EBITDA margin was 14.7%. Revenue and profit have risen year on year in each of the last eight quarters. After revenue reached ₹114.55 crore and PAT ₹11.42 crore in Q4 FY26, revenue and PAT moved lower in Q1 FY27 before rising to ₹117.95 crore and ₹7.22 crore and then ₹138.09 crore and ₹14.42 crore in Q2 FY27.

What did Sejal Glass' management say?

Management maintained its FY27 guidance for year-on-year revenue growth of 25-40%, an EBITDA margin of around 18% and a PAT margin of approximately 10%. Management said better capacity utilisation, operational efficiencies and a gradual increase in value-added products would support the outlook. Promoter Amrut Gada said the range reflected management’s assessment of market conditions, real estate activity, infrastructure development and operational progress.

Management said Taloja utilisation reached 69% for tempering and about 40% for insulated glass, while Erode improved to over 24% and over 18%. The company’s priority was the integration and ramp-up of the acquired Taloja and Erode facilities. Management also said the UAE order book was AED78 million, offering 6-9 months of execution visibility, while domestic project wins totalled about INR150 crores.

Management identified plant ramp-up execution, working-capital requirements for UAE sales, Middle East geopolitical tensions affecting logistics and input costs, railway-tender conversion and real-estate and infrastructure activity as risks to its outlook. No specific analyst questions or responses were included in the supplied earnings-call material.

How did Sejal Glass shares react?

The filing appeared after market hours. The stock was up 1.6% after 5 minutes, 15 minutes and 30 minutes, and closed 19.2% above its pre-results close on the reaction day. By the next day’s close, it was up 27.3% from the pre-results close, and by the fifth day it was up 17.0%.

The nearest market benchmark, the Nifty Microcap 250, was up 0.7% on the reaction day, down 1.0% by the next day’s close and down 5.5% by the fifth day. No industry median or excess return against the industry was available. Earlier reaction-day moves were 2.7% on 31 July 2026, 5.0% on 26 April 2026 and negative 5.0% on 2 February 2026.