HLE Glascoat, a manufacturer of chemical process equipment, filtration, and glass-lined products, has reported a resilient FY26 performance, driven by strong top-line growth and steady demand across key segments, even as integration costs weighed on profitability.

 

Announcing its audited consolidated results for the quarter and year ended March 31, 2026, the company highlighted robust revenue expansion and stable operational momentum supported by a strong order pipeline.

 

The company reported consolidated revenue from operations of Rs. 1,353 crore in FY26, up 31.7% year-on-year, underscoring broad-based growth across its engineering portfolio.

 

EBITDA stood at Rs. 148.5 crore, rising 5.4% year-on-year, with an EBITDA margin of 11.0%, while Profit After Tax came in at Rs. 56.6 crore, reflecting a PAT margin of 4.2%.

 

For the March quarter (Q4 FY26), revenue from contracts with customers was Rs. 391.7 crore, up 17.4% year-on-year and 19.9% sequentially. EBITDA for the quarter stood at Rs. 43.9 crore, down 19.0% year-on-year but sharply higher 78.7% quarter-on-quarter, with margins at 11.2%. PAT for the quarter was Rs. 20.1 crore, compared with Rs. 31.6 crore a year earlier.

 

The company noted segmental strength in filtration, drying and glass-lined products, while heat transfer equipment saw mixed performance. Glass-lined products contributed Rs. 676.4 crore in FY26 revenue, while filtration, drying and other equipment reached Rs. 474.3 crore, and heat transfer equipment stood at Rs. 200.3 crore.

 

Segment-wise EBIT trends showed divergence: filtration and drying equipment delivered steady gains, glass-lined products faced pressure, and heat transfer equipment improved modestly over the year.

 

Management highlighted that FY26 results include the impact of recent acquisitions, particularly in Europe. 

 

The company also reported EBITDA loss of Rs. 15.3 crore and PAT loss of Rs. 15.6 crore from the newly acquired Omeras business under HLE Surface Technologies GmbH, along with acquisition-related costs of Rs. 4.6 crore and a statutory impact of Rs. 2.1 crore due to new labour codes.

 

Despite these one-off and integration-related headwinds, the company emphasized its strong operational foundation. It ended the year with an order book of Rs. 681.6 crore as of March 31, 2026, providing healthy revenue visibility going forward.

 

Commenting on the performance, Managing Director Himanshu K. Patel said the year reflected “solid momentum across both standalone and consolidated operations,” driven by demand strength, disciplined execution, and expansion initiatives.

 

He added that acquisitions, including Omeras in Germany, have expanded the company’s footprint into glass fused steel products, opening opportunities in biogas digesters, large storage tanks, and architectural facades.

 

“The strong momentum created by the pharmaceutical sector both globally and in India is likely to create long-term opportunities for Indian manufacturing and engineering companies,” he said, adding that India is benefiting from global supply-chain realignment.

 

Looking ahead, the company said it remains focused on profitable growth, cost optimization, and integration-led synergies, expecting improved margins and stronger profitability over the medium term as acquisition benefits scale up.