Sejal Glass Ltd

Q4 FY26Industrial Products

Sejal Glass Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹664

Market cap₹816 Cr

P/E25.9

Updated23 Aug 2026

Read4 min read

The short version

FY27 total consolidated revenue target: Rs. Sejal Glass expects around 20% quarter-on-quarter growth in India business for the current year.

From Sejal Glass Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

FY27 total consolidated revenue target: Rs. 500+ crores, with 60% from UAE and 40% from India.
India business expected to grow around 20% in the current quarter and double in size, aiming for Rs. 200 crores in FY27 from India.
Glasstech India unit expected to cross Rs. 110 crores in FY27, targeting EBITDA positivity with ~10% margin this year.
UAE operations anticipate 20% growth in FY27, with capacity expansions planned and new machines to be installed by Q2/Q3.
Focus on capacity utilization improvement in India: Silvassa plant tempering to reach ~75%, IG above 50%, lamination 90-95%; Glasstech units targeting 50%+ tempering utilization.
New product segments (fire safety glass, bulletproof glass, railway glass) to contribute 5-7% this year, expected to increase to 15-20% next year.
Medium term (2-3 years): target 25-40% annual growth, balanced 50-50 revenue mix India-UAE, expansion through organic growth and acquisitions.

Profitability & Margins

Sejal Glass expects around 20% quarter-on-quarter growth in India business for the current year.
Full year FY27 India revenue target is approximately ₹200 crores, with consolidated revenue expected over ₹500 crores (60% UAE, 40% India).
EBITDA margin in India is projected at around 15% for FY27; the established Silvassa plant yields 17-18%.
Glasstech (acquired entity) aims for EBITDA breakeven and expects about 10% positive EBITDA margin this quarter, with profitability anticipated for FY27.
Consolidated EBITDA margin improved to 16.5% for FY26; management targets maintaining EBITDA margin around 17.5%-18% in FY27.
New product lines (fire safety, value-added glass) and acquisitions expected to drive margin expansion and revenue growth.
Long-term vision includes becoming the largest capacity player in India with strong operating EBITDA and PAT growth, aiming for balanced India-UAE revenue mix (50:50 over next 2-3 years).

See what Sejal Glass Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

- The company has ordered new machines for the UAE operations, with installation expected in Q2 or Q3, indicating ongoing capacity expansion. - The UAE expansion is funded through a mix of internal accruals and some local bank debt. - There is intent to continue acquisitions, with a second acquisition currently under due diligence. - Equity warrants call expected within 18 months, with proceeds likely to be used for acquisitions and strategic investments. - In India, there is ongoing expansion including acquired plants ramping up to target around 200 crores revenue for FY27. - Focus on capacity utilization improvement and product mix shift (e.g., laminated and IG glass) to enhance margins. - The company plans to increase capacity and expand presence geographically in India and GCC regions. - New product lines, including fire safety glass, railway segment products, and digital printed glass are being developed and commercialized. These points reflect current and future capex and strategic investment plans.

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Fundraising & Capital Structure

The company currently has outstanding debt of around Rs. 138 crores, largely from term loans, with around Rs. 70 crores funded through the promoter group.
There are 4 lakh equity warrants outstanding, with approximately 75% yet to be called; the call is expected within 18 months and proceeds may be used for acquisitions or strategic plans.
For funding new machines in UAE, the company plans a mix of internal accruals and additional debt from local or UAE banks.
No immediate new equity fundraising is explicitly mentioned, but warrants will be exercised as per plan.
The company is focused on reducing debt using cash flows generated, and has already repaid some promoter loans recently.
A second acquisition is under due diligence, which may involve structured funding including equity or debt.

See what Sejal Glass Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Current order book position in UAE is approximately AED 60 million.
In Q1 FY27, the company achieved a turnover of around AED 10.2 million per month and expects to maintain this level in May 2026.
With a slight improvement and stable conditions, Q2 FY27 turnover is expected to reach approximately AED 35 million.
The company has a strong order book and pipeline of pending orders across UAE and other regions including Africa.
Focus is on expanding geographical reach, including exports from UAE to other countries.
In India, the company is expecting around 200 crores revenue for FY27, with anticipated 20% quarter-on-quarter growth.
New verticals such as fire safety glass, bulletproof glass, and railway product lines are in the pipeline, which will contribute incrementally to orders and revenues.

Sejal Glass Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹115 Cr, net profit ₹11 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Sejal Glass Ltd Q4 FY26 results?

FY27 total consolidated revenue target: Rs. Sejal Glass expects around 20% quarter-on-quarter growth in India business for the current year.

What is Sejal Glass Ltd share price analysis?

Sejal Glass Ltd currently shows a neutral. The stock trades at a P/E of 25.9 with a market cap of ₹816 Cr. Investors should review the full earnings analysis for detailed insights.

Is Sejal Glass Ltd planning capital expenditure?

The company has ordered new machines for the UAE operations, with installation expected in Q2 or Q3, indicating ongoing capacity expansion.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.