Hle Glascoat Ltd · NSE:HLEGLAS
Hle Glascoat — H1 FY2027 Earnings Presentation
30 slides from Hle Glascoat's earnings presentation, Nov 2, 2026
Slide 1: Investor Presentation Q2 & H1 FY27
Investor Presentation Q2 & H1 - FY27 HLE Glascoat Limited www.hleglascoat.com
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: Quarterly Performance
QUARTERLY PERFORMANCE Investor Presentation – Q2 and H1, FY27 HLE Glascoat Limited — 2nd November 2026 3
Slide 4: Quarter at a Glance
QUARTER AT A GLANCE A broader engineering platform creates growth opportunities; converting growth into stronger profitability is the next priority. ▪ With an all-time-high orderbook, execution priorities now include operational efficiency, integration of expanded capabilities and sustainable profit
Slide 5: Strong Order Book
STRONG ORDER BOOK Strong order intake across sectors and geographies positions the Company for sustained growth. ▪ Consolidated order book is ~ ₹1,087.3 crore (as at 30 September 2026), for the first time, up from ₹ 662.0 crore (as at 30 June 2026). ▪ Company’s step-down subsidiary HLE Surface Techn
Slide 6: Business Performance by Segments – Q2 FY27
Business Performance by Segments – Q2 FY27 Filtration, Drying & Other Equipment Glass Lined Equipment Heat Transfer Equipment Revenue Revenue Revenue ₹ 102 Cr ₹ 195.4 Cr ₹ 48.8 Cr -25.6% YoY | +5.4% QoQ +24.2% YoY | +1.2% QoQ -12.3% YoY | +362.3% QoQ EBIT EBIT EBIT ₹ 11.7 Cr ₹ 11.6 Cr ₹ 6.8 Cr -38.8
Slide 7: Quarterly Performance
Q2 FY27 Highlights Revenue from Operations EBITDA PAT -1.2% -2.9% +14.8% 350.8 346.7 40.2 39.0 16.0 300.8 Quarterly Performance (₹ in Crores) 14.0 22.6 2.1 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 Q2FY26 Q1FY27 Q2FY27 EBITDA Margins PAT Margins 11.4% 11.2% 4.6% 4.0% 7.5% 0.7% Q2FY26 Q1FY27 Q2FY27 Q
Slide 8: Half Yearly Performance
H1 FY27 Highlights Revenue from Operations EBITDA PAT -23.0% -43.2% +2.0% 634.7 647.4 Half Yearly Performance (₹ in Crores) 80.0 61.6 31.8 18.1 H1 FY26 H1 FY27 H1 FY26 H1 FY27 H1 FY26 H1 FY27 EBITDA Margins PAT Margins 5.0% 12.6% 9.5% 2.8% H1 FY26 H1 FY27 H1 FY26 H1 FY27 Notes: (i) All the financial
Slide 9: Profit & Loss: Q2 FY27
Profit & Loss: Q2 FY27 ₹ in Crores Particulars Q2 FY27 Q2 FY26 Y-o-Y Q1 FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue from Contract with Customers 346.7 350.8 -1.2% 300.8 15.3% 647.4 634.7 2.0% Other Income 2.3 1.9 1.7 4.0 4.2 Total Revenues 349.0 352.7 -1.1% 302.5 15.4% 651.4 638.9 2.0% Cost of Material
Slide 10: Balance Sheet: As on 30th September 2026
Balance Sheet: As on 30th September 2026 ₹ in Crores Particulars Sep-26 Mar-26 Particulars Sep-26 Mar-26 Non-Current Assets Equity Share Capital 13.9 13.9 Property, Plant and Equipment 391.5 395.6 Other Equity 529.8 520.0 Right of use assets 30.6 33.7 Non Controlling Interest 83.4 84.3 Capital Work-
Slide 11: Cash Flow Statement
Cash Flow Statement: ₹ in Crores Cash Flow Statement 6M Sep-26 12M Mar-26 6M Sep-25 Cash Flow from Operating Activities Profit before Tax 25.1 70.9 42.0 Adjustment for Non-Operating Items 36.9 87.1 45.4 Operating Profit before Working Capital Changes 62.0 158.0 87.4 Changes in Working Capital -35.9
Slide 12: Financial Performance - Consolidated
Financial Performance - Consolidated Revenue from Operations (₹ Crores) Order Book (₹ Crores) EBITDA (₹ Crores) & EBITDA Margin 1,353.0 15.6% 1,087.3 13.7% 1,027.5 681.6 12.5% 932.0 967.9 11.0% 575.1 9.5% 457.4 479.4 647.4 145 141 149 121 62 FY23 FY24 FY25 FY26 H1 FY27 FY23 FY24 FY25 FY26 H1 FY27 FY
Slide 13: Working Capital Analysis
Working Capital Analysis Inventory Receivables Days Days 121 90 105 109 109 77 98 75 64 61 FY23 FY24 FY25 FY26 H1 FY27 FY23 FY24 FY25 FY26 H1 FY27 Payables Net Working Capital Days Days 108 119 117 102 80 79 79 71 80 74 FY23 FY24 FY25 FY26 H1 FY27 FY25 FY26 H1 FY27 FY23 FY24 Notes: (i) All the finan
Slide 14: Company Overview
COMPANY OVERVIEW Investor Presentation – Q2 and H1, FY27 HLE Glascoat Limited — 2nd November 2026 14
Slide 15: Group Evolution
GROUP EVOLUTION From strong foundations to a global presence. Investor Presentation – Q2 and H1, FY27 HLE Glascoat Limited — 2nd November 2026 15
Slide 16: Company Overview
COMPANY OVERVIEW HLE Glascoat Limited is an engineering company serving process-critical industrial applications for more than four decades through a portfolio that includes filtration and drying equipment, glass- lined equipment, heat-transfer solutions and glass- fused-to-steel products. 6 manufac
Slide 17: End Markets & Applications
END MARKETS & APPLICATIONS Our portfolio serves process- critical requirements across core process industries and infrastructure applications. — Filtration & Drying Chemicals & Pharmaceuticals Energy Sector Fine chemicals, Specialty Chemicals, Includes industries such as Oil & Gas, Refining, Glass-l
Slide 18: Group Structure
GROUP STRUCTURE Filtration & Drying Glass-lined Equipment Heat Transfer * HLE Glascoat holds 35.56% stake directly and 34.44% stake through its wholly owned subsidiary Kinam Process Equipments Private Limited in Kinam Engineering Industries Private Limited Glass-Fused-to-Steel Tanks Investor Present
Slide 19: Filtration & Drying
FILTRATION & DRYING Filtration and drying remains a foundational franchise within the Group’s process- equipment offering. — ▪ Equipment supports solid–liquid separation and drying operations in process industries. ▪ Over the last four decades HLE pioneered the adoption of advanced filtration & dryi
Slide 20: Glass-Lined Equipment
GLASS-LINED EQUIPMENT Glass-lined equipment extends the Group’s offering into demanding corrosion-resistant process applications. — ▪ Glass-lined reactors and associated equipment form a core part of the Group’s process-equipment portfolio. ▪ Thaletec contributes specialized glass-lining technology
Slide 21: Heat Transfer
HEAT TRANSFER Kinam adds complementary heat-transfer engineering and manufacturing capabilities to the Group. — ▪ Integrated provider of heat transfer solutions in India offering multiple technologies under one roof. ▪ Advanced technologies offer 30-50% higher efficiency compared to conventional sol
Slide 22: Omeras — Portfolio & Manufacturing
OMERAS — PORTFOLIO & MANUFACTURING Acquired in August 2025, Omeras adds glass-fused-to-steel solutions for storage, biogas and infrastructure applications. — Products ▪ Glass-fused-to-steel panels for tanks and silos ▪ Biogas digestion systems ▪ Architectural façades and infrastructure applications
Slide 23: Revenue Mix
REVENUE MIX The FY26 revenue mix reflects contributions from filtration and drying, 6.10% reactors, heat exchangers, service and 6.70% adjacent product families. — 31% 13.70% Filters & Dryers Reactors Heat Exchangers Spares & Services GFS Tanks & Panels Other Equipment 14.90% 27.60% Investor Present
Slide 24: Manufacturing Footprint
MANUFACTURING FOOTPRINT A six-facility manufacturing network is supported by specialized fabrication, machining and engineering capabilities. Anand, Gujarat (India) Maroli, Gujarat (India) Silvassa, Dadra and Nagar Haveli (India) Glass-lined reactors and process equipment Filtration & drying equipme
Slide 25: Engineering Edge
ENGINEERING EDGE Expertise across the entire value chain ensures that in-house application trials, analytical testing and engineering Portfolio Breadth Engineering Depth resources support product development Filtration & drying, glass-lined equipment, heat Nearly 100 people strong design team has de
Slide 26: Intellectual Property
INTELLECTUAL PROPERTY Engineering capability supported by world class R&D infrastructure ensures a robust pipeline of technology and innovation that sustains leadership. — R&D Centre, Anand Pilot Plant, Maroli Indigenization, digital transformation and Customer ANFD/RVPD trials before scale-up; 10 U
Slide 27: International Presence
INTERNATIONAL PRESENCE ▪ Blue font indicates manufacturing location Investor Presentation – Q2 and H1, FY27 HLE Glascoat Limited — 2nd November 2026 27
Slide 28: Experienced Leadership
EXPERIENCED LEADERSHIP Himanshu Patel – Managing Director He is a qualified Electrical Engineer graduating from the University of Bombay with close to 50 years of experience in chemical and engineering industries. As the founder, he has played a central role in shaping the Company’s strategic direct
Slide 29: Professional Management Team
PROFESSIONAL MANAGEMENT TEAM INDIA Chief Financial Officer, Group Chief People Officer, Group Chief Technology Officer Site Director – Silvassa M.E. Chemical, MBA E-PGDBM - TISS B.E. Chemical Business Graduate Total Experience: 22 years Total Experience: 18 years Total Experience: 28 years Total Exp
Slide 30: Engineering New Possibilities
Engineering New Possibilities Company: Investor Relations Advisors: HLE Glascoat Limited MUFG Intime India Private Limited — — Mr. Amit Kalra Mr. Irfan Raeen Chief Financial Officer Irfan.raeen@in.mpms.mufg.com Email: investor.relations@hleglascoat.com Ms. Vidhi Vasa vidhi.vasa@in.mpms.mufg.com CIN: