Hle Glascoat Ltd · NSE:HLEGLAS
Hle Glascoat — Q4 FY26 Earnings Presentation
52 slides from Hle Glascoat's earnings presentation, May 2026
Slide 1: HLE Glascoat Limited Investor Presentation
INVESTOR PRESENTATION HLE Glascoat Limited HLE Glascoat Corporate Limited Presentation May 2026 May 2023
Slide 2: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of HLE Glascoat Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or induc
Slide 3: Financial Performance
Financial Performance Key Operating Ratios and Financial Statements 3
Slide 4: HLE Glascoat Overview
HLE Glascoat Overview Leading Manufacturer of specialised Operating in segments with high barriers to Well diversified revenue streams processing equipment critical for chemical entry from multiple products and pharmaceutical industries Modern certified manufacturing facilities of Diversified order
Slide 5: Quarter at a Glance
Quarter at a Glance : Order Book Growth, Strong Financials, and Strategic Focus Propel Performance Q4 FY26 ₹ 391.7 Cr ₹ 43.9 Cr ₹ 20.1 Cr Revenue from Operations EBITDA PAT 17.4% Y-o-Y -19.0% Y-o-Y -36.3% Y-o-Y ₹ 1,353.0 Cr ₹ 148.5 Cr ₹ 56.6 Cr FY26 Revenue from Operations EBITDA PAT 31.7% Y-o-Y 5.4
Slide 6: Fueling Growth: Strong Orders, New Products, and Wider Reach
Fueling Growth: Strong Orders, New Products, and Wider Reach Strong topline growth driven by a robust order book and inquiries Order Book Visibility (No. of months) 10 4 International India Business Business ₹ 681.6 Cr. Orderbook providing visibility of 10 months Total Order Book for International b
Slide 7: Quarterly Performance (₹ in Crores)
Q4FY26 Highlights Revenue from Operations EBITDA PAT 17.4% -19.0% -36.3% 391.7 54.2 31.6 333.7 326.6 43.9 20.1 Quarterly Performance (₹ in Crores) 24.6 4.6 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 EBITDA Margins PAT Margins 16.3% 9.5% 11.2% 5.1% 7.5% 1.4% Q4FY25 Q3FY26 Q4FY26 Q
Slide 8: Full Year Performance (₹ in Crores)
FY26 Highlights Revenue from Operations EBITDA PAT -8.4% 31.7% +5.4% 1,353.0 140.9 148.5 61.8 56.6 1,027.5 Full Year Performance (₹ in Crores) FY25 FY26 FY25 FY26 FY25 FY26 EBITDA Margins PAT Margins 13.7% 6.0% 11.0 4.2 FY25 FY26 FY25 FY26 Notes: (i) All the financia l numbers are for HLE Glascoat L
Slide 9: Update on Omeras Acquisition
Update on Omeras Acquisition Order Book Financial Performance (13th August, 2025 to 31st • Robust Order book: Current order book of around ₹78 Cr. provides March, 2026) a good visibility for FY27 and creates stable base for profitable plant operations. • Revenue from operation stood at ₹ 89.5 Cr wit
Slide 10: Q4FY26 Revenue Breakup
Q4FY26- Revenue Breakup INDUSTRY-WISE REVENUE BREAK-UP PRODUCT-WISE REVENUE BREAK-UP ANF Others 13% 18% Reactors 29% API & Pharma 37% 26% 3% 35% Speciality Chemicals Tanks ANFD 20% 19% Others Agrochemicals & Pesticides Our customers are spread predominantly across the Well diversified revenue stream
Slide 11: Profit & Loss: Q4FY26
Profit & Loss: Q4FY26 ₹ in Crores Particulars Q4 FY26 Q4 FY25 Y-o-Y Q3 FY26 Q-o-Q FY26 FY25 Y-o-Y Revenue from Contract with Customers 391.7 333.7 17.4% 326.6 19.9% 1,353.0 1,027.5 31.7% Other Income 1.1 2.3 3.5 8.8 8.2 Total Revenues 392.8 336.0 16.9% 330.1 19.0% 1,361.8 1,035.8 31.5% Cost of Mater
Slide 12: Balance Sheet: As on 31st March 2026
Balance Sheet: As on 31st March 2026 ₹ in Crores Particulars Mar-26 Mar-25 Particulars Mar-26 Mar-25 Non-Current Assets Equity Share Capital 13.9 13.9 Property, Plant and Equipment 395.6 363.0 Other Equity 520.0 464.2 Right of use assets 33.7 31.8 Non Controlling Interest 84.3 76.2 Capital Work-in-P
Slide 13: Cash Flow Statement: As on 31st March 2026
Cash Flow Statement: As on 31st March 2026 ₹ in Crores Cash Flow Statement Mar-26 Mar-25 Cash Flow from Operating Activities Profit before Tax 70.9 75.1 Adjustment for Non-Operating Items 87.1 68.5 Operating Profit before Working Capital Changes 158.1 143.6 Changes in Working Capital 19.6 5.9 Cash G
Slide 14: Segmental Performance
Segmental Performance ₹ in Crores Segment Revenue Segment Result - EBIT Segment Assets & Liabilities Assets Filtration, Drying and Other Liabilities +5.5% +10.9% 474.3 57.0 343.8 51.4 304.5 Equipment 373.7 46.0 44.4 344.2 314.1 314.2 36.6 121.9 106.7 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26
Slide 15: Segmental Performance: Heat Transfer Equipment
Segmental Performance ₹ in Crores Segment Revenue Segment Result - EBIT Segment Assets & Liabilities Assets Liabilities Heat Transfer Equipment +14.3% 28.2 200.3 363.0 .+50.3% 23.6 317.9 21.6 121.7 88.7 109.8 46.5 FY24 FY25 FY26 FY24 FY25 FY26 Mar-25 Mar’26 Notes: (i) All the financia l numbers are
Slide 16: Financial Performance - Consolidated
Financial Performance - Consolidated Revenue from Operations (₹ Crores) Order Book (₹ Crores) EBITDA (₹ Crores) & EBITDA Margin 1,353.0 681.6 17.8% 15.6% 575.1 1,027.5 13.7% 932.0 967.9 479.4 12.5% 457.4 11.0% 402.7 652.2 145 141 149 118 121 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 FY22 FY2
Slide 17: Working Capital Analysis
Working Capital Analysis Inventory Receivables Days Days 121 90 116 105 109 77 98 75 61 61 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Payables Net Working Capital Days Days 105 108 119 117 80 79 79 80 72 74 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 17
Slide 18: Evolution of the Group
Evolution of the Group Growth from Engineering Excellence 18
Slide 19: Background
Background “ Late Dr. K. H Patel, obtained his Master’s Degree in Chemical Engineering from University of Southern California and PhD from Columbia University New York, returned home to ” contribute to a newly independent India. Over the years, the Group has expanded its horizon. The Group is a lead
Slide 20: Our Products: Application and Functioning
Our Products: Application and Functioning Glass Lined Equipment Filtration & Drying Equipment 20
Slide 21: Diversified Product Portfolio
Diversified Product Portfolio Filtration Drying Custom Jobs Agitated Nutsche Filters Rotary Vacuum Paddle Dryers Tailor made equipment in a range of Agitated Nutsche Filter-Dryers Rapid Disc Dryers/Coolers MOCs fabricated up to 75mm thick, 60 Kilo-lab Filter-Dryers Spherical Dryers m3 capacity and o
Slide 22: Our Journey: Key Milestones
Our Journey: Key Milestones 2024 1981 2017 2021 Acquisition – Operations Begin- HLE acquires Swiss Acquisition – Clean Max HL Engineers Glasscoat Thaletec GmbH Anchorage HLE expands into Glass HLE Glascoat acquires the Acquired a 26% stake in Clean HLE begins operations, Lined Equipment with the glo
Slide 23: Our Journey: Key Milestones
Our Journey: Key Milestones Largest One of the Largest 30+ Player in India 25+ Players in India Years of Filtration Years of Glass and Drying “Preferred Supplier” Lining In Glass Lined Equipment Leading Global Presence Acquisition of Thaletec Manufacturer of ANFDs 600+ 2,500+ Filters p.a. GL Equipme
Slide 24: Manufacturing Facilities
Manufacturing Facilities MAROLI WORKS ANAND WORKS • 15,000 m2 built-up area with nearly 13,000 m2 covered under 40 EOT • 20,000 m2 floor area covered by 33 EOT cranes. cranes. • Five SCADA controlled electric and gas fired furnaces for glass • Machine shop including VMCs, CNC Turn-mill, CNC drilling
Slide 25: Manufacturing Facilities
Manufacturing Facilities SILVASSA WORKS • 8600 m 2 floor area covered by 18 EOT cranes. • Well developed welding capabilities with pulsed arc welding systems and over 30 qualified welders. • Jigs, fixtures, welding manipulators and specialized tooling for fast and repeatable performance. • Machine s
Slide 26: Centre of Excellence – R&D Centre
Centre of Excellence – R&D Centre • State of the Art dedicated R&D Centre has been set up at Anand, Gujarat with the strategic objective of undertaking advanced research in glass lining technologies. • The Centre also showcases the functioning of certain key products at a lab scale • The center has
Slide 27: Competitive Edge: Product Engineering
Competitive Edge: Product Engineering Pilot Plant and R&D Facility Application Center Fully Equipped Design and Engineering Capabilities • Pilot plant and R&D facility present at With • Design & Engineering team of more than 35 Maroli • Filtration & Drying Equipment – ANFDs, RVPDs engineers. • Our p
Slide 28: Competitive Edge: Product Engineering
Competitive Edge: Product Engineering Special Purpose Machines (SPMs) and Tooling • Optimized every step of the fabrication process with SPMs developed and built by our team of process engineers. • Our SPMs dramatically reduce the manhours required for a job and increase process repeatability. At th
Slide 29: Robust Systems
Robust Systems ASME Accreditation CE Compliance JIS Compliance Authorized to use Designing and manufacturing Designing and ASME ‘U’, ‘NB’ and ‘R’ in compliance with CE as per manufacturing in Stamps for pressure Pressure Equipment, ATEX, compliance with ‘JIS’. vessels. Machinery, Electromagnetic, Lo
Slide 30: Project Showcase: Glass Lined Equipment
Project Showcase: Glass Lined Equipment Tilting Multifunction ANFD 8KL Pharma RVPD USA India Reactor, Filter, Dryer and Crystallizer built into A cantilever RVPD, supplied with a quick one opening front cover. ASME U-Stamp Certified MOC: SS316L MOC: SS316L ANFD for Sterile Application Australia 30KL
Slide 31: Project Showcase: Glass Lined Equipment
Project Showcase: Glass Lined Equipment Delivered 50 and 65 KL Tanks 32 and 40KL GMP Reactors Products at India India Scale Glass lined vessels supplied in the Indian Glass lined GMP reactors manufactured market followed by a repeat orders, and sold in the country. taking the total to 8 installation
Slide 32: Project Showcase: Custom and Exotic Metal Equipment
Project Showcase: Custom and Exotic Metal Equipment Continuous Pan Filter Oyster Filter Germany Germany 6m diameter pan for a continuous type filter 6m Diameter rotating type continuous filter, rotating within the tolerance of 3mm compliant with ASME, CE and JIS Standards MOC: Inconel MOC: SS316L Hi
Slide 33: Geographical Presence
Geographical Presence Strong Domestic Sales Network and Global Footprint Europe Russia Sales Network Channel Partner USA Ahmedabad Sales Network Saudi Arabia Channel Partner Channel Partner Vadodara Thailand Anand Channel Partner Channel Partner Regd. Office Surat Hyderabad Singapore Sales Office Ch
Slide 34: Experienced Management Team
Experienced Management Team Himanshu Patel He is a qualified Electrical Engineer graduating from the University of Bombay in the year 1976 and has more than 45 years of experience in the business of chemicals and engineering. Nilesh Patel He has completed his BSc (Chemistry) from the University of B
Slide 35: Professional Management Team – India
Professional Management Team – India Chief Financial Officer Director Sales and Vice President Sales Vice President – Product Marketing and People and Marketing Excellence Success Total Experience: 19 years Total Experience: 18 years Total Experience: 23 years Total Experience: 30 years B Com, CA M.
Slide 36: Corporate Structure of HLE
Corporate Structure of HLE HLE Glascoat Limited 100% 100%* 100% 99% Thaletec GmbH Kinam Process Equipments Private Limited (Kinam) HLE International S.a.r.l. Thaletec LLP 70%* 100% 100% HLE Surface Kinam Engineering Industries Thaletec Inc Private Limited (Kinam) Technologies GmbH 100% OmeraStore Gm
Slide 37: OMERAS GmbH
OMERAS GmbH Legacy of Glass Lining in Germany for 187 years 37
Slide 38: OMERAS GmbH Overview
OMERAS GmbH Overview A legacy of Glass Lining in Germany for 187 years — founded in 1838 Omeras GmbH (“Omeras”) is a Omeras offers end-to-end Omeras’ production portfolio OmeraStore, a subsidiary of These tanks have capacities German company, specializing services from consultation and consists of a
Slide 39: Diversified Revenue Streams: The Three Pillars
Diversified Revenue Streams: The Three Pillars Storage Tanks and Silos Architectural Panels Biogas Digestion Tanks • Capacity Range- 8 m³ to 20,000 m³ • Tunnel Cladding- Enamelled panels in road tunnels • A Global Emerging Opportunity offer durability, easy maintenance, and improved • Design Modular
Slide 40: Multiple Levers For Growth
Multiple Levers For Growth Strong Demand Drivers Cross-Selling Potential • Urban Infrastructure Upgrades: Modernization of transport • Introduce Omeras products to HLE’s 1500+ strong hubs, tunnels, and public facilities. customer network in chemical & API industries. • Sustainability Push: Rising ad
Slide 41: Thaletec GmbH
Thaletec GmbH Leader in Glass Lined Equipment 41
Slide 42: Thaletec GmbH :- Overview
Thaletec GmbH :- Overview • Thaletec GmbH is a wholly owned subsidiary of HLE Glascoat Limited, acquired in December 2021 • A technology driven company specializing in designing and manufacturing Glass Lined Equipment for the chemical and pharmaceutical industries • Market leader in its segment in t
Slide 43: Highlights- Thaletec GmbH
Highlights- Thaletec GmbH 37,000 m2 Plant Area >50% Market Share Leading Innovator Largest Glass Lining Plant Market Leader in the most 17 Patents, Designs and in Europe demanding DACH markets Trademarks Centuries of Legacy Technology Driven Manufacturing since 1686, Continuing to innovate Glassing
Slide 44: Manufacturing Facilities
Manufacturing Facilities THALETEC, GERMANY • Operates a 40,000 sq. m., manufacturing facility with more than 160 employees • ISO 9001 : 2015 and EN ISO 50001 : 2018 • Capabilities to manufacture equipment with dimensions of up to 100,000 liters volume • Unmatched product offering; offers multiple on
Slide 45: Kinam Engineering Industries
Kinam Engineering Industries Leader in Heat Transfer Equipment 45
Slide 46: Kinam Engineering Industries - Overview
Kinam Engineering Industries - Overview Cumulative for FY19 to FY26 Chemicals and pharmaceutical sectors account for 60 – 70% of Kinam Engineering Industries Private Limited (Kinam) is engaged in the business of revenues manufacturing heat exchangers for the chemical and pharmaceutical industries. K
Slide 47: Widest Product Range in the Industry
Widest Product Range in the Industry Shell & Tube Heat Exchanger Corrugated Tube Heat Exchanger Spiral Heat Exchanger Box Heat Exchanger Brand & product • Integrated with KICC corrugated • Similar to conventional tubular • Comprises of circular units tube technology • Consists of a shell with a bund
Slide 48: Widest Product Range in the Industry
Widest Product Range in the Industry K-PEX Plate Heat Exchanger HeliKorr Heat Exchanger KCS – Kinam’s Condensing System Brand & product In HeliKorr, Heat transfer enhancement occurs • Plates arranged in frames with hot and cold both for shell side fluid and tube side fluid due to Description • Power
Slide 49: Capabilities
Capabilities Dedicated and Specialists in Pioneer Team led by State-of-the- Supports experienced heat among Indian professionals art software project engineering, exchangers - players on and capability for specific design & knowledge multiple experienced designing, customised proposal base technolog
Slide 50: Manufacturing Facility
Manufacturing Facility • The Manufacturing Facility is situated at Ambernath (near Mumbai), with a total area of 1,10,000 sq fts, area under cranes ~ 1,00,000 sq ft. in a leased premises o It is well equipped with state-of-the-art equipment, a single EOT crane of 50T capacity o The Facility is capab
Slide 51: Capitalizing on Opportunities
Capitalizing on Opportunities Only manufacturer that One of the largest players offers the full range of in this space heat transfer solutions Adjacencies in the business in Also caters to other than terms of customer profile, chemical – Paint, Petrochem, manufacturing etc. Bulk Chemicals etc. Has r
Slide 52: Thank You
Thank You Company : Investor Relations Advisors : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services Mr. Naveen Kandpal Mr. Parth Patel Chief Financial Officer Parth.patel@in.mpms.mufg.com investor.relations@hleglascoat.com Parth.patel@in