India's Most Valuable Companies 2021 edition · Source: Hurun India
Rank#492- Valuation
- ₹5,736 Cr
Market Cap
₹2,888 Cr
HLEGLAS · NSE
Share Price
₹414.70
-0.28% today
Revenue
₹1,354 Cr
FY 2025-26 · +31.7% YoY
EBITDA
₹136 Cr
Margin 10.0%
Net Profit
₹54.14 Cr
FY 2025-26 · -1.3% YoY
P/E (TTM)
69.9x
P/B 5.3x
ROE
11.2%
ROCE 12.2%
Debt / Equity
0.72
Interest cover 37.3x
About Hle Glascoat Limited
Data last updated:
Hle Glascoat Limited is a public limited company based in Anand, Gujarat, India. It operates in the industrial machinery manufacturing segment of the machinery and industrial equipment sector. It was incorporated on 26 August 1991 and has been in existence for over 35 years.
Its director Himanshu Khushalbhai Patel and family are #1,750 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L26100GJ1991PLC016173. Its GSTIN is 26AACCS6297G1Z1 (Dadra and Nagar Haveli and Daman and Diu). The company holds 3 GST registrations, of which 2 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 522215 and NSE: HLEGLAS.
The company has an authorised share capital of ₹27.6 Cr and a paid-up capital of ₹13.89 Cr. It was formerly known as Swiss Glascoat Equipments Limited. It is led by directors including Himanshu Khushalbhai Patel (Managing Director) and Aalap Nileshbhai Patel (Whole-Time Director).
Its last annual general meeting (AGM) was held on 26 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at H – 106 GIDC Estate Vithal Udyognagar, Anand, Gujarat, India – 388121.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹1,353.68 Cr, a growth of 31.7% compared to the previous year. For the same year it recorded a net profit of ₹54.14 Cr (net margin 4%) and EBITDA of ₹135.66 Cr (EBITDA margin 10%). The net worth stands at ₹533.92 Cr (up 11.7% YoY). Total assets are valued at ₹982.49 Cr (up 2.9% YoY).
The company has about 709 employees on its provident fund (EPFO) records.
The company is associated with 3 brands: Swiss Glascoat Equipments, Thaletec and HLE Glascoat. As per MCA filings, the company has open charges of ₹878.94 Cr and satisfied charges of ₹253.88 Cr on record. Court records list 11 cases involving the company, including 4 filed by the company and 7 filed against it; 1 case is pending. The company has 15 deals on record (11 market trades, 4 funding rounds), with disclosed funding of ₹152.19 Cr; the latest was in June 2026. The company has 9 MSME Form 1 returns on record between 2019 and 2022, listing 360 overdue payments to 59 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website glascoat.com.
Company details
CIN L26100GJ1991PLC016173
Registration Number 016173
Incorporation Date 26 August 1991
ROC Ahmedabad
Listing Status Listed - Listed on NSE (HLEGLAS); Listed on BSE (522215)
Company Status Active
Date of Last AGM 26 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
CIN history
Hle Glascoat has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L26100GJ1991PLC016173, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L26100GJ1991PLC016173 | Current |
| U26100GJ1991PTC016173 | Previous |
| L26100GJ1992PLC016173 | Previous |
Key People
Himanshu Khushalbhai Patel Managing Director Aalap Nileshbhai Patel Whole-Time Director Harsh Himanshubhai Patel Whole-Time Director Recognitions & Rankings of Hle Glascoat
India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,750 Himanshu Khushalbhai Patel & family ₹1,000 Cr
Contact details
Hle Glascoat Limited's registered office is in Anand, Gujarat. Its website is glascoat.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressH – 106 GIDC Estate Vithal Udyognagar, Anand, Gujarat, India – 388121
- IndustryMachinery and Equipment, Industrial Machinery Manufacturing
To see the full contact details of Hle Glascoat Limited, buy the company report.
Comprehensive company report
Hle Glascoat Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Hle Glascoat operates multiple associated brands including Swiss Glascoat Equipments, THALETEC, and HLE Glascoat. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Process equipment for chemical and pharmaceutical industries is manufactured. | glascoat.com | |
| Enamelled heat exchanger tubes are manufactured in Thale, Germany. | thaletec.com | |
| Filtration, drying, glass-lined, metal, and material equipment is manufactured. | hleglascoat.com |
Business activity
The main business activity of Hle Glascoat is manufacturing. In detail, this covers manufacture of food products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | 10 | Manufacture of food products |
To see the full business activity and turnover split of Hle Glascoat Limited, buy the company report.
Financials of Hle Glascoat Limited
FY 2025-26 filings availableHle Glascoat Limited reported revenue of ₹1,353.68 Cr (up 31.7% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹1,354 Cr
+31.7% YoY
EBITDA
₹136 Cr
+0.1% YoY
Profit After Tax
₹54.14 Cr
-1.3% YoY
Net Worth
₹534 Cr
+11.7% YoY
Total Assets
₹982 Cr
+2.9% YoY
Total Debt
₹348 Cr
-8.3% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,354 | 1,028 | 968 | 932 | 652 | 484 | 426 |
| Revenue growth | +31.7% | +6.2% | +3.9% | +42.9% | +34.6% | +13.6% | - |
| EBITDA | 136 | 136 | 109 | 139 | 102 | 92.53 | 72.53 |
| EBITDA margin | +10.0% | +13.2% | +11.3% | +14.9% | +15.6% | +19.1% | +17.0% |
| Profit before tax | 70.96 | 75.08 | 58.68 | 99.34 | 84.31 | 77.24 | 56.56 |
| Net profit | 54.14 | 54.86 | 32.85 | 69.65 | 63.52 | 52.08 | 38.26 |
| Net profit margin | +4.0% | +5.3% | +3.4% | +7.5% | +9.7% | +10.8% | +9.0% |
| EPS (₹) | 7.12 | 7.90 | 4.35 | 10.23 | 42.60 | 40.01 | 29.57 |
| Balance sheet | |||||||
| Total assets | 982 | 955 | 922 | 623 | 495 | 229 | 178 |
| Net worth | 534 | 478 | 417 | 333 | 266 | 153 | 98.76 |
| Total debt | 348 | 379 | 390 | 250 | 204 | 75.31 | 77.26 |
| Cash & bank | 58.50 | 52.16 | 45.47 | 16.26 | 39.38 | 20.52 | 9.79 |
| Net working capital | 332 | 324 | 352 | 304 | 226 | 104 | 74.76 |
| Cash flow | |||||||
| Cash from operations | 161 | 134 | 94.73 | 4.88 | 1.05 | 48.24 | 44.65 |
| Cash from investing | (81.56) | (68.38) | (45.46) | (40.42) | (146) | (29.17) | (19.38) |
| Cash from financing | (84.89) | (59.67) | (18.67) | 13.29 | 160 | (9.90) | (30.40) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 347 | 301 | 392 | 327 | 351 | 284 | 334 | 231 |
| Revenue growth (YoY) | -1.2% | +5.9% | +17.4% | +41.4% | +48.8% | +25.1% | - | - |
| Other income | 2.33 | 1.70 | 1.11 | 3.49 | 1.93 | 2.25 | 2.25 | 1.93 |
| EBITDA | 36.66 | 20.93 | 42.39 | 17.92 | 35.15 | 37.60 | 51.99 | 25.64 |
| EBITDA margin | +10.6% | +7.0% | +10.8% | +5.5% | +10.0% | +13.2% | +15.6% | +11.1% |
| Depreciation | 9.89 | 9.90 | 9.60 | 9.90 | 8.60 | 8.36 | 7.73 | 7.38 |
| Interest | 8.39 | 8.36 | 8.66 | 7.86 | 9.33 | 8.60 | 9.32 | 8.78 |
| Profit before tax | 20.71 | 4.37 | 25.24 | 3.65 | 19.15 | 22.89 | 37.19 | 11.41 |
| Tax | 4.69 | 2.31 | 5.10 | (0.95) | 5.20 | 5.02 | 5.56 | 1.12 |
| Net profit | 16.02 | 2.06 | 20.14 | 4.60 | 13.95 | 17.87 | 31.63 | 10.29 |
| EPS (₹) | 2.06 | 0.40 | 2.65 | 0.41 | 1.76 | 2.62 | 4.64 | 1.51 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 724 | 551 | 591 | 649 | 508 | 421 | 387 |
| Revenue growth | +31.3% | -6.7% | -9.0% | +27.7% | +20.9% | +8.6% | - |
| EBITDA | 80.14 | 53.10 | 58.59 | 95.82 | 88.99 | 78.17 | 63.80 |
| EBITDA margin | +11.1% | +9.6% | +9.9% | +14.8% | +17.5% | +18.6% | +16.5% |
| Profit before tax | 48.84 | 20.51 | 31.37 | 72.21 | 80.96 | 71.49 | 52.93 |
| Net profit | 41.57 | 16.36 | 32.23 | 54.11 | 60.97 | 53.62 | 38.34 |
| Net profit margin | +5.7% | +3.0% | +5.5% | +8.3% | +12.0% | +12.8% | +9.9% |
| EPS (₹) | 5.50 | 2.36 | 3.90 | 7.97 | 45.24 | 40.03 | 29.53 |
| Balance sheet | |||||||
| Total assets | 707 | 683 | 706 | 594 | 487 | 258 | 175 |
| Net worth | 393 | 363 | 348 | 335 | 294 | 182 | 98.94 |
| Total debt | 312 | 312 | 342 | 238 | 193 | 74.89 | 75.51 |
| Cash & bank | 10.28 | 15.10 | 10.06 | 10.53 | 12.20 | 19.57 | 9.41 |
| Net working capital | 190 | 166 | 225 | 221 | 149 | 105 | 68.49 |
| Cash flow | |||||||
| Cash from operations | 66.08 | 110 | 48.31 | 12.60 | 19.15 | 34.02 | 39.11 |
| Cash from investing | (21.51) | (35.95) | (108) | (19.11) | (184) | (45.35) | (14.84) |
| Cash from financing | (56.69) | (65.30) | 63.53 | 6.42 | 154 | 20.56 | (29.45) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166 | 151 | 202 | 164 | 193 | 164 | 195 | 130 |
| Revenue growth (YoY) | -14.3% | -8.2% | +3.4% | +26.0% | +68.7% | +47.6% | - | - |
| Other income | 2.36 | 11.22 | 2.51 | 2.39 | 1.69 | 9.34 | 1.16 | 0.93 |
| Total expenses | 151 | 136 | 175 | 154 | 171 | 145 | 169 | 119 |
| EBITDA | 14.29 | 14.70 | 26.99 | 10.23 | 21.60 | 19.64 | 26.12 | 11.57 |
| EBITDA margin | +8.6% | +9.7% | +13.4% | +6.2% | +11.2% | +12.0% | +13.4% | +8.9% |
| Depreciation | 4.41 | 4.39 | 4.74 | 4.37 | 4.27 | 4.15 | 3.73 | 3.70 |
| Interest | 6.79 | 7.03 | 6.86 | 7.18 | 7.33 | 6.63 | 6.72 | 7.04 |
| Profit before tax | 5.45 | 14.50 | 17.90 | 1.07 | 11.69 | 18.20 | 16.83 | 1.76 |
| Tax | 0.90 | 3.42 | 4.43 | (0.23) | 3.64 | 2.78 | 3.23 | 0.45 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 08 Nov 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 347 | 301 | 392 | 327 | 351 | 284 | 334 | 231 |
| Revenue growth (YoY) | -1.2% | +5.9% | +17.4% | +41.4% | +48.8% | +25.1% | - | - |
| Other income | 2.33 | 1.70 | 1.11 | 3.49 | 1.93 | 2.25 | 2.25 | 1.93 |
| EBITDA | 36.66 | 20.93 | 42.39 | 17.92 | 35.15 | 37.60 | 51.99 | 25.64 |
| EBITDA margin | +10.6% | +7.0% | +10.8% | +5.5% | +10.0% | +13.2% | +15.6% | +11.1% |
| Depreciation | 9.89 | 9.90 | 9.60 | 9.90 | 8.60 | 8.36 | 7.73 | 7.38 |
| Interest | 8.39 | 8.36 | 8.66 | 7.86 | 9.33 | 8.60 | 9.32 | 8.78 |
| Profit before tax | 20.71 | 4.37 | 25.24 | 3.65 | 19.15 | 22.89 | 37.19 | 11.41 |
| Tax | 4.69 | 2.31 | 5.10 | (0.95) | 5.20 | 5.02 | 5.56 | 1.12 |
| Net profit | 16.02 | 2.06 | 20.14 | 4.60 | 13.95 | 17.87 | 31.63 | 10.29 |
| EPS (₹) | 2.06 | 0.40 | 2.65 | 0.41 | 1.76 | 2.62 | 4.64 | 1.51 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,354 | 1,028 | 968 | 932 | 652 | 484 | 426 |
| Revenue growth | +31.7% | +6.2% | +3.9% | +42.9% | +34.6% | +13.6% | - |
| Other income | 8.78 | 8.22 | 8.82 | 8.03 | 7.76 | 3.93 | 4.80 |
| Total expenses | 1,218 | 893 | 859 | 793 | 550 | 392 | 354 |
| Employee cost | 253 | 201 | 179 | 147 | 67.27 | 36.36 | 32.45 |
| EBITDA | 136 | 136 | 109 | 139 | 102 | 92.53 | 72.53 |
| EBITDA margin | +10.0% | +13.2% | +11.3% | +14.9% | +15.6% | +19.1% | +17.0% |
| Depreciation | 36.45 | 29.67 | 26.31 | 22.70 | 11.23 | 8.61 | 7.44 |
| Interest | 37.03 | 39.05 | 32.89 | 24.91 | 13.99 | 10.61 | 13.33 |
| Profit before tax | 70.96 | 75.08 | 58.68 | 99.34 | 84.31 | 77.24 | 56.56 |
| Tax | 14.38 | 13.30 | 17.79 | 29.52 | 26.08 | 23.87 | 17.36 |
| Net profit | 54.14 | 54.86 | 32.85 | 69.65 | 63.52 | 52.08 | 38.26 |
| Net profit margin | +4.0% | +5.3% | +3.4% | +7.5% | +9.7% | +10.8% | +9.0% |
| EPS (₹) | 7.12 | 7.90 | 4.35 | 10.23 | 42.60 | 40.01 | 29.57 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 13.89 | 13.89 | 14.03 | 20.94 | 27.24 | 31.00 | 35.68 |
| Reserves & surplus | 520 | 451 | 390 | 300 | 227 | 110 | 52.11 |
| Shareholders' funds (net worth) | 534 | 478 | 417 | 333 | 266 | 153 | 98.76 |
| Minority interest | 84.33 | 76.23 | 79.90 | 0.13 | 0.08 | 0.12 | 1.37 |
| Secured loans | 313 | 332 | 362 | 241 | 193 | 73.56 | 67.05 |
| Unsecured loans | 34.57 | 46.87 | 27.37 | 9.67 | 11.31 | 1.75 | 10.21 |
| Total debt | 348 | 379 | 390 | 250 | 204 | 75.31 | 77.26 |
| Total liabilities | 982 | 955 | 922 | 623 | 495 | 229 | 178 |
| Assets | |||||||
| Gross block | 811 | 736 | 658 | 405 | 312 | 145 | 116 |
| Net block | 627 | 593 | 541 | 318 | 245 | 120 | 94.29 |
| Capital work in progress | 3.74 | 5.00 | 19.43 | 2.91 | 31.15 | 3.12 | 10.01 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventories | 356 | 370 | 312 | 268 | 268 | 148 | 153 |
| Sundry debtors | 270 | 185 | 237 | 243 | 148 | 69.18 | 44.11 |
| Cash & bank balances | 58.50 | 52.16 | 45.47 | 16.26 | 39.38 | 20.52 | 9.79 |
| Loans & advances | 31.93 | 42.25 | 25.00 | 31.67 | 23.82 | 11.68 | 21.41 |
| Total current assets | 716 | 649 | 620 | 559 | 479 | 249 | 229 |
| Total current liabilities | 384 | 325 | 268 | 256 | 253 | 145 | 154 |
| Net working capital | 332 | 324 | 352 | 304 | 226 | 104 | 74.76 |
| Total assets | 982 | 955 | 922 | 623 | 495 | 229 | 178 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 39.59 | 33.29 | 2.68 | 24.93 | 10.49 | 1.33 | 6.45 |
| Net cash from operating activities | 161 | 134 | 94.73 | 4.88 | 1.05 | 48.24 | 44.65 |
| Net cash from investing activities | (81.56) | (68.38) | (45.46) | (40.42) | (146) | (29.17) | (19.38) |
| Net cash from financing activities | (84.89) | (59.67) | (18.67) | 13.29 | 160 | (9.90) | (30.40) |
| Net change in cash | (5.23) | 6.31 | 30.60 | (22.25) | 14.44 | 9.16 | (5.12) |
| Closing cash | 58.50 | 52.16 | 45.47 | 16.26 | 39.38 | 20.52 | 9.79 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +31.7% | +6.2% | +3.9% | +42.9% | +34.6% | +13.6% | - |
| EBITDA growth | +0.1% | +24.3% | -21.5% | +36.5% | +10.0% | +27.6% | - |
| PBT growth | -5.5% | +28.0% | -40.9% | +17.8% | +9.2% | +36.6% | +105.6% |
| Net income growth | -1.3% | +67.0% | -52.8% | +9.7% | +22.0% | +36.1% | - |
| Revenue CAGR (3Y) | +13.3% | +16.4% | +26.0% | +29.8% | +22.0% | - | - |
| EBITDA CAGR (3Y) | -0.8% | +10.0% | +5.6% | +24.2% | +30.1% | - | - |
| Profitability & leverage | |||||||
| Net income margin | +4.2% | +6.0% | +4.2% | +7.5% | +8.9% | +11.0% | +9.2% |
| Return on capital employed | +12.2% | +13.3% | +12.5% | +22.2% | +27.1% | +43.4% | +42.0% |
| Return on net worth | +11.2% | +13.8% | +11.0% | +24.1% | +30.2% | +50.7% | +66.9% |
| Debt / equity | 0.72 | 0.86 | 0.85 | 0.76 | 0.67 | 0.61 | 0.98 |
| Long-term debt / equity | 0.26 | 0.34 | 0.36 | 0.37 | 0.39 | 0.27 | 0.38 |
| Interest cover | 37.32 | 36.87 | 39.75 | 21.43 | 15.45 | 12.64 | 20.48 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.75 | 1.48 | 1.82 | 2.60 | 2.85 | 3.70 | 3.93 |
| Inventory turnover | 3.73 | 3.02 | 3.33 | 3.47 | 3.14 | 3.22 | 2.99 |
| Debtors turnover | 5.95 | 4.87 | 4.03 | 4.77 | 6.01 | 8.55 | 10.99 |
| EPS (₹) | 7.12 | 7.90 | 4.35 | 10.23 | 42.60 | 40.01 | 29.57 |
| Dividend per share (₹) | 1.10 | 1.10 | 1.10 | 1.10 | 5.00 | 4.00 | 4.50 |
| Book value per share (₹) | 76.87 | 66.98 | 59.17 | 45.98 | 176.29 | 94.34 | 50.30 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166 | 151 | 202 | 164 | 193 | 164 | 195 | 130 |
| Revenue growth (YoY) | -14.3% | -8.2% | +3.4% | +26.0% | +68.7% | +47.6% | - | - |
| Other income | 2.36 | 11.22 | 2.51 | 2.39 | 1.69 | 9.34 | 1.16 | 0.93 |
| Total expenses | 151 | 136 | 175 | 154 | 171 | 145 | 169 | 119 |
| EBITDA | 14.29 | 14.70 | 26.99 | 10.23 | 21.60 | 19.64 | 26.12 | 11.57 |
| EBITDA margin | +8.6% | +9.7% | +13.4% | +6.2% | +11.2% | +12.0% | +13.4% | +8.9% |
| Depreciation | 4.41 | 4.39 | 4.74 | 4.37 | 4.27 | 4.15 | 3.73 | 3.70 |
| Interest | 6.79 | 7.03 | 6.86 | 7.18 | 7.33 | 6.63 | 6.72 | 7.04 |
| Profit before tax | 5.45 | 14.50 | 17.90 | 1.07 | 11.69 | 18.20 | 16.83 | 1.76 |
| Tax | 0.90 | 3.42 | 4.43 | (0.23) | 3.64 | 2.78 | 3.23 | 0.45 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 724 | 551 | 591 | 649 | 508 | 421 | 387 |
| Revenue growth | +31.3% | -6.7% | -9.0% | +27.7% | +20.9% | +8.6% | - |
| Other income | 15.92 | 12.33 | 15.14 | 11.95 | 13.86 | 12.00 | 9.25 |
| Total expenses | 644 | 498 | 532 | 554 | 420 | 343 | 324 |
| Employee cost | 68.23 | 57.87 | 55.07 | 49.06 | 37.91 | 34.49 | 31.19 |
| EBITDA | 80.14 | 53.10 | 58.59 | 95.82 | 88.99 | 78.17 | 63.80 |
| EBITDA margin | +11.1% | +9.6% | +9.9% | +14.8% | +17.5% | +18.6% | +16.5% |
| Depreciation | 17.53 | 14.70 | 13.97 | 12.57 | 9.09 | 8.37 | 7.22 |
| Interest | 29.69 | 30.22 | 28.39 | 22.99 | 12.80 | 10.31 | 12.90 |
| Profit before tax | 48.84 | 20.51 | 31.37 | 72.21 | 80.96 | 71.49 | 52.93 |
| Tax | 10.62 | 4.15 | 4.72 | 17.79 | 19.21 | 19.15 | 14.75 |
| Net profit | 41.57 | 16.36 | 32.23 | 54.11 | 60.97 | 53.62 | 38.34 |
| Net profit margin | +5.7% | +3.0% | +5.5% | +8.3% | +12.0% | +12.8% | +9.9% |
| EPS (₹) | 5.50 | 2.36 | 3.90 | 7.97 | 45.24 | 40.03 | 29.53 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 13.89 | 13.89 | 14.03 | 20.94 | 27.24 | 32.50 | 35.68 |
| Reserves & surplus | 379 | 336 | 321 | 302 | 255 | 119 | 52.29 |
| Shareholders' funds (net worth) | 393 | 363 | 348 | 335 | 294 | 182 | 98.94 |
| Secured loans | 307 | 310 | 332 | 227 | 188 | 73.56 | 67.05 |
| Unsecured loans | 5.71 | 2.70 | 10.20 | 10.80 | 5.21 | 1.33 | 8.46 |
| Total debt | 312 | 312 | 342 | 238 | 193 | 74.89 | 75.51 |
| Total liabilities | 707 | 683 | 706 | 594 | 487 | 258 | 175 |
| Assets | |||||||
| Gross block | 366 | 344 | 292 | 271 | 183 | 137 | 109 |
| Net block | 278 | 271 | 232 | 227 | 151 | 114 | 88.49 |
| Capital work in progress | 1.64 | 0.87 | 15.86 | 1.92 | 31.39 | 3.12 | 10.01 |
| Investments | 233 | 234 | 228 | 146 | 157 | 33.75 | 9.01 |
| Inventories | 208 | 229 | 206 | 182 | 194 | 139 | 143 |
| Sundry debtors | 128 | 85.96 | 132 | 172 | 82.26 | 63.65 | 43.02 |
| Cash & bank balances | 10.28 | 15.10 | 10.06 | 10.53 | 12.20 | 19.57 | 9.41 |
| Loans & advances | 31.41 | 21.11 | 12.77 | 25.38 | 21.24 | 8.53 | 17.30 |
| Total current assets | 378 | 352 | 361 | 390 | 310 | 231 | 212 |
| Total current liabilities | 188 | 186 | 137 | 170 | 161 | 126 | 144 |
| Net working capital | 190 | 166 | 225 | 221 | 149 | 105 | 68.49 |
| Total assets | 707 | 683 | 706 | 594 | 487 | 258 | 175 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 12.17 | 3.47 | 0.04 | 0.13 | 10.39 | 1.16 | 6.34 |
| Net cash from operating activities | 66.08 | 110 | 48.31 | 12.60 | 19.15 | 34.02 | 39.11 |
| Net cash from investing activities | (21.51) | (35.95) | (108) | (19.11) | (184) | (45.35) | (14.84) |
| Net cash from financing activities | (56.69) | (65.30) | 63.53 | 6.42 | 154 | 20.56 | (29.45) |
| Net change in cash | (12.12) | 8.70 | 3.43 | (0.09) | (10.26) | 9.23 | (5.18) |
| Closing cash | 10.28 | 15.10 | 10.06 | 10.53 | 12.20 | 19.57 | 9.41 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +31.3% | -6.7% | -9.0% | +27.7% | +20.9% | +8.6% | - |
| EBITDA growth | +50.9% | -9.4% | -38.9% | +7.7% | +13.8% | +22.5% | - |
| PBT growth | +138.1% | -34.6% | -56.6% | -10.8% | +13.3% | +35.1% | +108.8% |
| Net income growth | +154.1% | -49.2% | -40.4% | -11.3% | +13.7% | +39.9% | - |
| Revenue CAGR (3Y) | +3.7% | +2.7% | +12.0% | +18.8% | +14.7% | +63.4% | +68.2% |
| EBITDA CAGR (3Y) | -5.8% | -15.8% | -9.2% | +14.5% | +30.2% | +96.0% | +87.8% |
| Profitability & leverage | |||||||
| Net income margin | +5.3% | +3.0% | +4.5% | +8.4% | +12.1% | +12.4% | +9.9% |
| Return on capital employed | +11.3% | +7.3% | +10.3% | +17.6% | +25.2% | +37.8% | +39.9% |
| Return on net worth | +10.1% | +4.6% | +9.5% | +17.9% | +27.9% | +43.8% | +64.9% |
| Debt / equity | 0.83 | 0.92 | 0.85 | 0.68 | 0.56 | 0.53 | 0.96 |
| Long-term debt / equity | 0.28 | 0.36 | 0.36 | 0.34 | 0.33 | 0.25 | 0.38 |
| Interest cover | 47.42 | 78.70 | 63.63 | 27.62 | 16.02 | 14.77 | 22.80 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.04 | 1.74 | 2.10 | 2.86 | 3.18 | 3.42 | 3.82 |
| Inventory turnover | 3.31 | 2.53 | 3.04 | 3.45 | 3.05 | 2.99 | 2.91 |
| Debtors turnover | 6.76 | 5.05 | 3.88 | 5.11 | 6.97 | 7.89 | 10.38 |
| EPS (₹) | 5.50 | 2.36 | 3.90 | 7.97 | 45.24 | 40.03 | 29.53 |
| Dividend per share (₹) | 1.10 | 1.10 | 1.10 | 1.10 | 5.00 | 4.00 | 4.50 |
| Book value per share (₹) | 56.58 | 50.35 | 49.06 | 46.30 | 196.64 | 100.73 | 50.44 |
To see the full year-wise statements and ratios of Hle Glascoat Limited, buy the company report.
Board of directors of Hle Glascoat Limited
Hle Glascoat has 8 current directors and 20 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Himanshu Khushalbhai Patel Also directs: Thaletec LLP, Yashashvi Rasayan Private Limited, Kinam Engineering Industries Private Limited and 5 more | Managing Director | 31 Dec 2016 | 9 Years 10 Months | Current |
| Aalap Nileshbhai Patel Also directs: Thaletec LLP, Kinam Engineering Industries Private Limited, Hle Engineers Private Limited and 1 more | Whole-Time Director | 31 Dec 2016 | 9 Years 10 Months | Current |
| Nilesh Khushalbhai Patel Also directs: Thaletec LLP, Yashashvi Rasayan Private Limited, Hle Engineers Private Limited and 4 more | Director | 31 Dec 2016 | 9 Years 10 Months | Current |
| Harsh Himanshubhai Patel Also directs: Yash Speciality Chemicals LLP, Thaletec LLP, Yashashvi Rasayan Private Limited and 3 more | Whole-Time Director | 31 Dec 2016 | 9 Years 10 Months | Current |
| Vijayanti Punjabi Also directs: Kinam Engineering Industries Private Limited | Director | 31 Dec 2016 | 9 Years 10 Months | Current |
| Yatish Chandrakant Parekh | Director | 29 May 2017 | 9 Years 5 Months | Current |
Showing 6 of 8 current directors. View all directors
Auditor
Hle Glascoat Limited is audited by M. M. Nissim & Co. LLP for the financial year 2025.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| M. M. Nissim & Co. LLP | FY 2025 | 107122W/W100672 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 65.60%, foreign institutional investors hold 2.00%, domestic institutional investors hold 4.80% and retail and other public shareholders hold 27.60%.
Sep 2026
QUARTER
65.60% Promoters
4.80% DII (Domestic Institutional)
2.00% FII (Foreign Institutional)
27.60% Retail & Others
Promoter holding - history
Now 65.60% · Sep 2026High 65.60% · Dec 2025Low 65.60% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 65.60% | 65.60% | 65.60% | 65.60% |
| Public | 34.40% | 34.40% | 34.40% | 34.40% |
Charges & borrowings
Open charges
₹878.94 Cr
Satisfied charges
₹253.88 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 Sep 2025 | 101152659 | Hdfc Bank Limited | ₹28.5 Lakh | Open | |
| 24 Feb 2025 | 101080689 | Others | ₹97.4 Cr | Open | |
| 27 Aug 2024 | 100969852 | Hdfc Bank Limited | ₹18.5 Lakh | Open | |
| 19 Feb 2024 | 100879185 | Hdfc Bank Limited | ₹12.65 Lakh | Open | |
| 23 Aug 2023 | 100776041 | Hdfc Bank Limited | ₹9 Lakh | Open |
To see the full charge records of Hle Glascoat Limited, buy the company report.
Total charge records: 34 View all charges
Deals & funding
Hle Glascoat Limited has 15 deals on record (11 market trades, 4 funding rounds), with disclosed funding of ₹152.19 Cr; the latest was in June 2026.
Total deals
15
Market trades
11
Funding rounds
4
Disclosed funding
₹152.19 Cr
Deals on record (5 of 15)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2026 | Market trade | ₹64.6 Cr | Buyer: Microcurves Trading Private Limited , NK Securities Research Private Limited , Qe Securities LLP Seller: Microcurves Trading Private Limited , NK Securities Research Private Limited , Qe Securities LLP |
| Aug 2025 | Market trade | ₹33.71 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Aug 2025 | Market trade | ₹40.1 Cr | Buyer: Neo Apex Venture LLP , Graviton Research Capital LLP Seller: Neo Apex Venture LLP , Graviton Research Capital LLP |
| Sep 2023 | Market trade | ₹23.37 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Sep 2023 | Market trade | ₹125.08 Cr | Buyer: Dsp Mutual Fund A/C - Dsp Micro Cap Fund Seller: 3 individuals |
To see the full deal history of Hle Glascoat Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Hle Glascoat Limited has 11 court cases on record: 4 filed by Hle Glascoat, 7 filed against it. 1 case is pending and 10 are disposed.
Total cases
11
Filed by the company
4
Filed against the company
7
Pending
1
Disposed
10
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 8 | 6 | 0 |
| High courts | 3 | 1 | 1 |
Cases on record (5 of 11)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Commercial suit | Filed by the company against Sachin Industries Limited | Pending |
| High Court, GUJARAT | Special civil application | Filed against the company by GMM Pfaudler Ltd | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Gujarat Machinery Manufacturers Ltd | Disposed |
| District court, Anand, Gujarat | Court case (SPCS) | Filed against the company by M/S. Gujarat Machinery Manufacturers Ltd. | Disposed |
| District court, Navsari, Gujarat | Court case (CR EN) | Filed against the company by an individual | Disposed |
To see the full case history of Hle Glascoat Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Hle Glascoat Limited was last rated by Icra on 28 Sep 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Icra | 28 Sep 2021 |
To see the full credit ratings and regulatory alerts of Hle Glascoat Limited, buy the company report.
MSME payment delays
Hle Glascoat Limited has 9 MSME Form 1 returns on record between 2019 and 2022, listing 360 overdue payments to 59 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 59)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| an individual supplier | |||
| an individual supplier | |||
| Hydrotronics Industries | |||
| Pranav Oxygen |
To see the full MSME payment records of Hle Glascoat Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Hle Glascoat Limited has a workforce of 709 employees on its EPFO records as of Apr 08, 2024, across 3 active EPFO establishments.
Employee count
709
Active EPFO establishments
3
Employee growth
5.19%
GST
Hle Glascoat has 3 GST registrations: 2 active and 1 cancelled or inactive.
Total GSTINs
3
Active
2
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 26AACCS6297G1Z1 | Dadra and Nagar Haveli and Daman and Diu | Active | 18 Jan 2021 |
| 36AACCS6297G1Z0 | Telangana | Active | 30 Apr 2022 |
To see the full GST registrations and return filing status of Hle Glascoat Limited, buy the company report.
Recent activity
Hle Glascoat Limited has 38 board changes on record since 1991: 23 appointments and 15 cessations. The latest: Dave Suryakant ceased to be CFO on 10 May 2020.
Charges
A charge with Hdfc Bank Limited of Rs. 185.70 Cr registered on 28 Sep 2007 with Charge ID 10086487 was modified on 18 May 2026.
Charges
A charge with Others of Rs. 97.40 Cr registered on 24 Feb 2025 with Charge ID 101080689 was modified on 11 May 2026.
Filing
Hle Glascoat Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
Charges
A charge with Others of Rs. 89.50 Cr registered on 23 Feb 2022 with Charge ID 100551146 was modified on 30 Jan 2026.
AGM
Hle Glascoat Limited last Annual general meeting of members was held on 26 Sep 2025 as per latest MCA records.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.29 Cr with Charge ID 101152659 was registered on 09 Sep 2025.
Charges
A charge with Others amounted to Rs. 97.40 Cr with Charge ID 101080689 was registered on 24 Feb 2025.
Charges
A charge registered on 28 Sep 2005 via Charge ID 90096996 with State Bank Of India was fully satisfied on 05 Nov 2024.
Charges
A charge registered on 23 Jul 2005 via Charge ID 90100079 with State Bank Of India was fully satisfied on 05 Nov 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.19 Cr with Charge ID 100969852 was registered on 27 Aug 2024.
Charges
A charge with Others of Rs. 82.00 Cr registered on 22 Aug 2023 with Charge ID 100776206 was modified on 18 Jul 2024.
Charges
A charge with Hdfc Bank Limited amounted to Rs. 0.13 Cr with Charge ID 100879185 was registered on 19 Feb 2024.
91 earlier events are in the company report.
News
HLEGLAS: Q2 REVENUE 3.47B RUPEES VS 3.51B (YOY)
HLEGLAS: Q2 CONS NET PROFIT 143M RUPEES VS 119.9M (YOY)
HLEGLAS: Q2 EBITDA 366.6M RUPEES VS 382.2M (YOY); Q2 EBITDA MARGIN 10.58% VS 10.9% (YOY)
HLE Glascoat: Subsidiary Thaletech Sells Entire Stake in HLE Surface Technologies to HLE International.
HLE Glascoat: Co Board Names Amit Kalra As CFO Starting September 25, 2026; Kalra Has 22 Years Of Experience In Corporate Transformation And P&L Management.
Frequently asked questions
Hle Glascoat is an active public limited company based in Anand, Gujarat, India. The company works in industrial machinery manufacturing, within the machinery and equipment industry. It was incorporated on 26 August 1991 (35+ years old) and is registered under CIN L26100GJ1991PLC016173. Listed on BSE: 522215 and NSE: HLEGLAS.
Hle Glascoat reported revenue of ₹1,353.68 Cr for FY 2025-26 (up 31.7% YoY) based on consolidated financials.
Hle Glascoat has 8 current directors:
- Himanshu Khushalbhai Patel - Managing Director
- Aalap Nileshbhai Patel - Whole-Time Director
- Harsh Himanshubhai Patel - Whole-Time Director
- Nilesh Khushalbhai Patel - Director
- Vijayanti Punjabi - Director
- Yatish Chandrakant Parekh - Director
- Sandeep Dipak Randery - Director
- Jayeshbhai Vastupal Shah - Director
The latest financial statements of Hle Glascoat on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 26 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Hle Glascoat is 26AACCS6297G1Z1, registered in Dadra and Nagar Haveli and Daman and Diu. The company has 3 GST registrations in all, of which 2 are active and 1 is cancelled or inactive. Other active GSTINs include 36AACCS6297G1Z0 (Telangana).
The CIN (Corporate Identification Number) of Hle Glascoat is L26100GJ1991PLC016173. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Hle Glascoat is a listed company as per MCA records. Its shares are listed on both BSE (code: 522215) and NSE (symbol: HLEGLAS).
Hle Glascoat has 11 court cases on record: 4 filed by the company and 7 filed against it. 1 is pending. Most are in the district courts.
Hle Glascoat was incorporated on 26 August 1991, making it 35+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Hle Glascoat has 15 deals on record (11 market trades, 4 funding rounds), with disclosed funding of ₹152.19 Cr; the latest was in June 2026.
Dave Suryakant ceased to be CFO on 10 May 2020. Dave Suryakant was appointed as CFO on 27 Jul 2019. Sudarshan Purushottamdas Amin ceased to be Director on 15 Jul 2019. Hle Glascoat has 38 board changes on record in total.
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