| Metric | Value (₹ Cr) | vs Q2 FY25 |
|---|---|---|
| Revenue | 231.03 | 2.0% |
| Total Income | 232.96 | 1.8% |
| Expenditure | 221.56 | 1.8% |
| PBT | 11.41 | 41.6% |
| Net Profit | 10.28 | 28.7% |
| OPM | -2.90% | 3.83pp |
| NPM | 4.41% | 1.67pp |
| EPS | 1.51 | 28.4% |
HLE Glascoat’s Stable Performance Driven by Strong Order Book Growth
11 Feb 2025 · 11 Feb 2025, 05:54 am
Summary
HLE Glascoat Limited, a manufacturer of chemical process equipment, filtration, drying, heat transfer and glass lined equipment, announced its unaudited financial results for the quarter and nine months ended 31st March, 2024. The company reported a 5.0% Y-o-Y growth in revenue from operations, a 5.2% Y-o-Y growth in EBITDAM profit, and a 15.5% Y-o-Y growth in profit after tax. The order book grew by approximately 24.1% Y-o-Y, providing good visibility for enhanced future performance. The company has completed the acquisition of 35.56% partnership share in Kinam Engineering Industries and 26% equity stake in Clean Max Anchorage Private Limited, which is expected to start generating power by second half of FY26, reducing energy costs for the company.
Key Highlights
- 1
Revenue from Operations grew by 5.0% Y-o-Y
- 2
EBITDAM Profit increased by 5.2% Y-o-Y
- 3
Profit After Tax marked a growth of 15.5% Y-o-Y
- 4
Robust Orderbook of INR 68,323.8 lakhs provides good visibility for enhanced future performance
- 5
Acquisition of 26% equity stake in Clean Max Anchorage Private Limited is expected to boost renewable energy usage and reduce energy costs
Management Comments
Mr. Himanshu K. Patel
Managing Director
We are pleased to report a stable performance for the quarter and nine-month period ended December 31, 2024, supported by a robust order book. Sequentially, the order book grew by approximately 13.4%, marking a 24.1% year-on-year increase. While the industrial chemical sector saw subdued demand upto Q3 FY25, the pharmaceutical segment maintained steady traction. With inventory levels stabilizing, the chemical industry is expected to witness a gradual recovery in the coming quarters. Our Filtration, Drying, and Other Equipment segment continued to gain traction, recording sequential growth. Additionally, the Indian Glass-Lined Equipment business is showing signs of recovery, leading to margin improvements compared to last year. The steady buildup of its order book strengthens our confidence in further topline and margin expansion in the coming quarters. We remain focused on leveraging our recent acquisitions, which continue to provide strategic adjacencies, broaden our product portfolio, and enable entry into new industries—helping us diversify risks while driving sustainable growth. The acquisition of a 26% stake in Clean Max Anchorage Private Limited will enable us to optimize energy costs with a short payback period while furthering our sustainability goals through captive use, enhancing profitability.
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