HLE Glascoat Q2 FY27 Results: Consolidated Net Profit ₹16.02 Crore on Total Income of ₹349 Crore
- Earnings
- Glass-lined equipment manufacturing
Reviewed byKeshav SehgalBlacklitt Research
HLE Glascoat (NSE: HLEGLAS) reported consolidated total income of ₹348.98 crore and consolidated net profit of ₹16.02 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone total income was ₹167.86 crore and standalone net profit ₹4.55 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹348.98 crore, down 1.1% YoY and up 15.4% QoQ
- Net profit and EPS: ₹16.02 crore, up 14.8% YoY; basic EPS ₹2.06
- Finance costs: ₹8.39 crore, down 10.1% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹167.86 crore, down 13.8% YoY and up 3.6% QoQ
- Net profit and EPS: ₹4.55 crore, down 43.4% YoY; basic EPS ₹0.66
- Other income: ₹2.36 crore, up 40.2% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 348.98 | 352.71 | -1.1% | 302.45 | +15.4% | |
| Revenue from operations | 346.65 | 350.78 | -1.2% | 300.75 | +15.3% |
| Other income | 2.33 | 1.93 | +20.2% | 1.70 | +36.8% |
| 16.02 | 13.96 | +14.8% | 2.05 | +680.0% | |
| Profit before tax | 20.70 | 19.16 | +8.1% | 4.37 | +374.0% |
| Finance costs | 8.39 | 9.33 | -10.1% | 8.36 | +0.3% |
| Depreciation | 9.89 | 8.60 | +15.0% | 9.90 | -0.1% |
| Tax expense | 4.68 | 5.20 | -9.9% | 2.31 | +102.4% |
| Net profit margin | 4.59% | 3.96% | +0.63 pp | 0.68% | +3.91 pp |
| EPS, basic (₹) | 2.06 | 1.76 | +17.0% | 0.40 | +415.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit rose faster than income this quarter. Total income fell 1.1% YoY, while net profit rose 14.8%, with profit before tax up 8.1% and tax expense down 9.9% to ₹4.68 crore. The filing does not give a reason for the change in tax expense or for the profit movement against the year-ago quarter.
Other income of ₹2.33 crore is 0.7% of total income and 11.2% of profit before tax of ₹20.70 crore. Revenue from operations fell 1.2% YoY while other income rose 20.2%. Depreciation rose 15.0% YoY to ₹9.89 crore, against finance costs that fell 10.1% to ₹8.39 crore. Finance costs are 2.4% of total income this quarter.
The year-ago quarter carried exceptional items of ₹3.08 crore; the current quarter has none. Profit attributable to owners of the company was ₹14.31 crore, with non-controlling interest taking the remainder of the ₹16.02 crore net profit. Segment revenue was led by Glass Lined Products at ₹195.40 crore, against ₹102.04 crore for Filtration, Drying and Other Equipment and ₹48.79 crore for Heat Transfer Equipment.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 167.86 | 194.76 | -13.8% | 162.10 | +3.6% | |
| Revenue from operations | 165.50 | 193.08 | -14.3% | 150.88 | +9.7% |
| Other income | 2.36 | 1.69 | +40.2% | 11.22 | -78.9% |
| 4.55 | 8.04 | -43.4% | 11.08 | -58.9% | |
| Profit before tax | 5.45 | 11.68 | -53.4% | 14.50 | -62.4% |
| Finance costs | 6.79 | 7.33 | -7.3% | 7.03 | -3.4% |
| Depreciation | 4.41 | 4.27 | +3.4% | 4.39 | +0.6% |
| Tax expense | 0.90 | 3.64 | -75.3% | 3.43 | -73.8% |
| Net profit margin | 2.71% | 4.13% | -1.42 pp | 6.83% | -4.12 pp |
| EPS, basic (₹) | 0.66 | 1.18 | -44.1% | 1.60 | -58.8% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone income and profit fell year on year. Total income dropped 13.8% to ₹167.86 crore and net profit fell 43.4% to ₹4.55 crore, with tax expense down 75.3% to ₹0.90 crore. Profit before tax of ₹5.45 crore is 53.4% below the year-ago level.
Revenue from operations fell 14.3% YoY, while other income rose 40.2% to ₹2.36 crore, equal to 43.4% of profit before tax. Standalone other income was ₹11.22 crore in the June quarter, against ₹2.36 crore now; the filing does not explain the difference.
Standalone net profit is ₹11.47 crore below the consolidated figure of ₹16.02 crore. The standalone company paid a dividend of ₹7.64 crore in the half year ended 30 Sep 2026.
Inference
The Board approved capital expenditure of up to ₹45 crore to set up a new unit at Adas, Dist. Anand, Gujarat, to manufacture heavy engineering and other allied products. The filing does not say how the spend will be funded, when the unit will be commissioned, or what returns are expected.
The statutory auditors, M M Nissim & Co LLP, issued unqualified review reports on both the standalone and consolidated results. The company's Managing Director signed the results on 02 Nov 2026.
Filed with BSE on . Reference: Original filing (PDF)
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