Sejal Glass Limited's Q2 & H1 FY26 results (ended Sep 30, 2025) reflect transformative growth post its April 2025 acquisition of Glasstech's architectural glass business, boosting capacity via new plants in Maharashtra and Tamil Nadu.
Consolidated revenue surged 326% YoY to βΉ7,719 lakhs, driven by 95% domestic sales, with net profit exploding 857% to βΉ1,110 lakhs (EPS βΉ0.85).
Margins improved to ~14%, aided by synergies, though expenses rose 286% on materials and finance costs (βΉ1,062 lakhs).
EBITDA approximated βΉ1,920 lakhs ( 300%).
Standalone, the holding company reported losses of βΉ147 lakhs (vs. βΉ22 lakhs prior), widened by acquisition costs like depreciation (βΉ278 lakhs) and no tax relief from carry-forwards.
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Balance sheet expanded 37% to βΉ38,852 lakhs assets, with PPE up 38% and debt-to-equity at ~1.7x.
Cash from operations hit βΉ4,228 lakhs ( 1,423%), funding βΉ7,523 lakhs capex; closing cash βΉ535 lakhs ( 17%).Challenges:
Elevated leverage and working capital strain from receivables.
Outlook: Strong infra/realty demand positions Sejal for FY26 momentum.