Sejal Glass Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹882 Cr
- P/E
- 23.35
- ROE
- 31.09%
- PEG
- 0.48
- Price to sales
- 1.85
- Debt to equity
- 1.21
- 52W high / low
- ₹985 / ₹401
- Sales growth (5Y)
- 108.68%
- EBITDA margin
- 15.45%
- Net profit margin
- 7.50%
- Promoter holding
- 69.96%
- Sales (last year)
- ₹471 Cr
Incorporated in 1998, Sejal Glass Ltd is in the business of value addition of glass & glass products[1]
Guidance scorecard · Q2 FY27 call
What Sejal Glass Ltd's management guided
and where it ranks in Industrial Products
Industrial Products
RevenueQ2 FY27 call
20–40%- Sejal Glass Limited expects year-on-year revenue growth in the range of 25% to 40% for FY27.
- The company targets 25% annual growth on existing capacities, with potential for additional growth through capacity expansion or acquisitions.
- Growth drivers include increased capacity utilization in India’s Erode and Taloja plants and continued strong performance in UAE operations.
- The architectural glass market in India is large (~USD 3.9 billion) with processed glass contributing over 60%, signaling strong market potential.
- Specialized glass products (fire-rated, digital printed, bulletproof, railway-grade) are expected to increase their revenue contribution significantly by FY28.
2 more points from Sejal Glass Ltd's call on revenue
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MarginsQ2 FY27 call
FlatSee what Sejal Glass Ltd said on margins — free account, 30 seconds.
CapexQ2 FY27 call
Planned- Sejal Glass Limited is working on capacity expansion plans, including adding tempering capacities in their UAE plant (third tempering line and fire-rated glass line) expected around Q3 FY27.
- Total capex for UAE tempering and fire-rated glass line is approximately AED 20 million.
- Funding for this capex is planned through internal accruals (~60%) and banking finance (~40%).
- The company is exploring growth opportunities through acquisitions or additional capacity additions in upcoming quarters/years, though nothing concrete has been disclosed yet.
2 more points from Sejal Glass Ltd's call on capex
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FundraisingQ2 FY27 call
PlannedSee what Sejal Glass Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY27 call
Rising- Current India order book is around INR 80 crores.
- Orders typically have a timeline of 6 to 8 months for execution.
- The order book continuously adds new projects while deliveries are ongoing.
- Over INR 100 crores of railway tenders come every quarter, in which the company participates.
- Bid-to-win ratio in tendering is about 5%.
- Export orders are small but growing, with recent markets including Israel, Cyprus, and Sri Lanka.
2 more points from Sejal Glass Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of Sejal Glass Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Sejal Glass Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 78.96% | 77.45% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 69.96% | 69.96% | 69.96% | 69.08% |
| FIIs + | 0.00% | 0.12% | 0.33% | 0.29% | 0.21% | 0.21% | 0.21% | 0.21% | 0.19% | 0.19% | 0.19% | 0.20% |
| DIIs + | 0.00% | 0.00% | 0.00% | 0.00% | 0.40% | 0.47% | 0.47% | 0.47% | 0.41% | 4.44% | 4.54% | 4.39% |
| Public + | 21.04% | 22.41% | 24.66% | 24.71% | 24.39% | 24.32% | 24.32% | 24.32% | 29.45% | 25.41% | 25.31% | 26.34% |
| No. of Shareholders | 4,778 | 4,537 | 4,604 | 4,443 | 4,535 | 4,602 | 4,794 | 5,153 | 6,553 | 6,416 | 7,194 | 7,118 |
Financials of Sejal Glass Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 40 | 47 | 50 | 53 | 62 | 62 | 68 | 77 | 104 | 101 | 115 | 118 | 138 |
| Expenses + | 34 | 41 | 45 | 46 | 53 | 53 | 58 | 65 | 87 | 86 | 96 | 102 | 114 |
| Operating Profit | 5 | 6 | 5 | 7 | 8 | 9 | 9 | 12 | 17 | 15 | 18 | 16 | 24 |
| OPM % | 14% | 13% | 11% | 13% | 14% | 15% | 14% | 15% | 16% | 14% | 16% | 14% | 17% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 2 | 1 | 3 | 1 | 2 |
| Interest | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 6 | 6 | 5 | 5 | 5 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 4 | 4 | 4 | 5 | 5 |
| Profit before tax | 1 | 1 | 0 | 1 | 3 | 4 | 4 | 5 | 9 | 6 | 12 | 8 | 16 |
| Tax % | 0% | 0% | 0% | 5% | 9% | 8% | 0% | 8% | 9% | 10% | 7% | 9% | 8% |
| Net Profit + | 1 | 1 | 0 | 1 | 2 | 3 | 4 | 4 | 8 | 5 | 11 | 7 | 14 |
| EPS in Rs | 1.07 | 1.00 | 0.32 | 1.37 | 2.40 | 3.34 | 3.75 | 4.33 | 7.95 | 4.39 | 9.94 | 6.26 | 12.53 |
Financials of Sejal Glass Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 126 | 10 | 9 | 4 | 10 | 24 | 46 | 164 | 244 | 396 | 471 |
| Expenses + | 141 | 15 | 15 | 8 | 13 | 25 | 44 | 143 | 210 | 334 | 399 |
| Operating Profit | -15 | -5 | -7 | -4 | -3 | -1 | 3 | 20 | 34 | 62 | 73 |
| OPM % | -12% | -56% | -78% | -115% | -29% | -4.5% | 6% | 12% | 14% | 16% | 15% |
| Other Income + | 8 | 3 | -3 | -12 | -10 | 150 | -1 | 1 | 1 | 6 | 8 |
| Interest | 9 | 2 | 2 | 2 | 3 | 1 | 2 | 13 | 16 | 21 | 21 |
| Depreciation | 2 | 3 | 3 | 2 | 2 | 1 | 1 | 6 | 7 | 15 | 18 |
| Profit before tax | -19 | -7 | -15 | -22 | -18 | 147 | -1 | 3 | 12 | 32 | 42 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | -765% | 0% | 5% | 8% | |
| Net Profit + | -19 | -7 | -15 | -22 | -18 | 147 | 8 | 3 | 11 | 29 | 38 |
| EPS in Rs | -5.62 | -2.23 | -4.37 | -6.41 | -5.49 | 145.50 | 7.77 | 3.28 | 10.85 | 25.21 | 33.12 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Sejal Glass Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 34 | 34 | 34 | 34 | 34 | 10 | 10 | 10 | 10 | 11 | 11 |
| Reserves | 119 | -129 | -145 | -166 | -185 | -4 | 4 | 19 | 28 | 140 | 162 |
| Borrowings + | 56 | 27 | 22 | 22 | 22 | 33 | 31 | 162 | 183 | 202 | 210 |
| Other Liabilities + | 95 | 133 | 141 | 165 | 182 | 4 | 5 | 39 | 64 | 117 | 136 |
| Total Liabilities | 303 | 64 | 52 | 55 | 53 | 43 | 51 | 230 | 285 | 470 | 519 |
| Fixed Assets + | 76 | 39 | 35 | 32 | 30 | 33 | 20 | 115 | 118 | 193 | 190 |
| CWIP | 7 | 5 | 3 | 3 | 3 | 0 | 0 | 5 | 3 | 9 | 26 |
| Investments | 1 | 1 | 1 | 0 | 0 | 0 | 3 | 6 | 3 | 32 | 31 |
| Other Assets + | 218 | 19 | 14 | 20 | 21 | 10 | 27 | 105 | 161 | 236 | 273 |
| Total Assets | 303 | 64 | 52 | 55 | 53 | 43 | 51 | 230 | 285 | 470 | 519 |
Financials of Sejal Glass Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -1 | 3 | 7 | 3 | -6 | -3 | -9 | -6 | 51 | |
| Cash from Investing Activity + | 16 | 4 | 0 | 0 | -2 | 8 | -39 | -0 | -120 | |
| Cash from Financing Activity + | -15 | -7 | -2 | -3 | 4 | -4 | 49 | 9 | 76 | |
| Net Cash Flow | -0 | 0 | 5 | -1 | -4 | 1 | 0 | 3 | 7 | |
| Free Cash Flow | 2 | 6 | 7 | 3 | -8 | -4 | -16 | -14 | -46 | |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 9% | -43% | -167% | -96% | 545% | -92% | -45% | -16% | 86% |
Financials of Sejal Glass Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 189 | 225 | 177 | 415 | 180 | 70 | 81 | 152 | 152 | 122 |
| Inventory Days | 31 | 121 | 24 | 101 | 54 | 46 | 36 | 58 | 55 | 66 |
| Days Payable | 170 | 696 | 617 | 1,883 | 695 | 19 | 29 | 101 | 123 | 109 |
| Cash Conversion Cycle | 51 | -349 | -416 | -1,367 | -461 | 96 | 88 | 110 | 84 | 80 |
| Working Capital Days | -76 | -5,337 | -6,496 | -17,181 | -6,949 | -410 | -107 | 54 | 44 | 43 |
| ROCE % | 5% | 13% | 14% | 19% |
Guidance history
How Sejal Glass Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY27 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q1 FY27 call → | 20–40% | Up 2%+ | Planned | None planned | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q3 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
24 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −15.2% | 44% |
| Last 6 months | −8.3% | 42% |
| Last 3 months | +2.4% | 71% |
The price is 21.7% below its all-time high of ₹987.35 (27 Oct 2025). Stocks more than 20% below their peak have their score halved, so 49 became 24.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Sejal Glass Ltd: 0.4 × 44 + 0.4 × 42 + 0.2 × 71 = 49, halved to 24 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Sejal Glass Ltd's management said in earlier quarters
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