Current/ Expected Orderbook/ Pending Orders?

Current order book position is around Rs. 25 crores. The company is booking approximately Rs. 25 to 30 lakhs worth of orders daily on average. Ongoing orders come from around 250 customers. Efforts are ongoing to increase supply share with existing customers (e.g., from 20% to 25-30% of their requirements). The order book covers both India and UAE markets, supporting revenue guidance for the next 3 to 6 months. On railway glass tenders, bidding is underway, with expected initial orders of Rs. 50 to 60 lakhs per month, expected to gradually increase. Overall, there is a healthy pipe

Any current/future capex/capital investment/strategic investment?

No immediate CAPEX plans for UAE facility as of October 28, 2024, but expansion plans are being worked on and may be announced in the next quarter. The Ras Al-Khaimah facility currently utilizes about 25% of the total land (20 acres), with 2.5 lakh sq ft. of construction area. The company is in final negotiation stages for a domestic acquisition aimed at inorganic growth; expected positive update within a month. Post-acquisition, the company will work on funding and debt-equity structure cautiously to manage the existing high finance cost (~Rs. 16 crores). Investment focus remains on increasin

Future growth expectations in sales/revenue/volumes?

FY25 revenue guidance is Rs. 260 to Rs. 280 crores consolidated, with Q3 at Rs. 68-72 crores and Q4 at Rs. 80 crores. India operations expected to generate Rs. 40-45 crores in the next six months with EBITDA margin of 14-15%. UAE order book stands at 40 million Dirham (~Rs. 80 crores), with expansion in GCC and Africa markets. Plant capacity utilization currently at 62% in UAE and 55% in India, with plans to increase. Acquisition discussions underway for inorganic growth in India to boost market share and volumes. New product launches include bulletproof glass expected by January 2025. Partici

Future growth expectations in earnings/operating earnings/profits/EPS?

H1 FY25 net profit surged 92.44% to Rs. 3.85 crores; Q2 FY25 net profit up 123.79% to Rs. 2.45 crores with EPS of Rs. 3.77 (H1) and Rs. 2.40 (Q2). Guidance for FY25 revenue: Rs. 260 to Rs. 280 crores with EBITDA margin of 14-15%. Q3 revenue expected at Rs. 68-72 crores; Q4 revenue around Rs. 80 crores. India operations to achieve Rs. 42-45 crores in next six months with 14-15% EBITDA margins. Margin improvement expected to be modest: EBITDA margin may improve by 1-2%. Growth drivers include strong real estate demand, increasing order book, expanding customer base (expect 500 customers by FY25

IN US

Sale is live|00:00:00left today

Sejal Glass LtdQ3 FY24Industrial Products

Sejal Glass Ltd Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹740P/E: 32.5Market Cap: ₹934 CrSector: Industrial Products

Management growth scorecard

Revenue

Category 3

Margin

Category 2

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

→FY25 revenue guidance is Rs. 260 to Rs. 280 crores consolidated, with Q3 at Rs. 68-72 crores and Q4 at Rs. 80 crores.
→India operations expected to generate Rs. 40-45 crores in the next six months with EBITDA margin of 14-15%.
→UAE order book stands at 40 million Dirham (~Rs. 80 crores), with expansion in GCC and Africa markets.
→Plant capacity utilization currently at 62% in UAE and 55% in India, with plans to increase.
→Acquisition discussions underway for inorganic growth in India to boost market share and volumes.
→New product launches include bulletproof glass expected by January 2025.
→Participation in key exhibitions (e.g., ACETECH India) to enhance brand visibility and order inflow.
→Long-term vision includes becoming a multinational high-quality architectural glass manufacturer, targeting 20+ countries serviced from UAE by year-end.
→Conservative but optimistic outlook, expecting sustainable growth with 1-2% margin improvements.

Margin guidance

Category 2

→H1 FY25 net profit surged 92.44% to Rs. 3.85 crores; Q2 FY25 net profit up 123.79% to Rs. 2.45 crores with EPS of Rs. 3.77 (H1) and Rs. 2.40 (Q2).
→Guidance for FY25 revenue: Rs. 260 to Rs. 280 crores with EBITDA margin of 14-15%.
→Q3 revenue expected at Rs. 68-72 crores; Q4 revenue around Rs. 80 crores.
→India operations to achieve Rs. 42-45 crores in next six months with 14-15% EBITDA margins.
→Margin improvement expected to be modest: EBITDA margin may improve by 1-2%.
→Growth drivers include strong real estate demand, increasing order book, expanding customer base (expect 500 customers by FY25 end).
→Sustainable profit growth supported by operational efficiency, expansion of product portfolio (including bulletproof glass launch by Jan 2025), and UAE capacity utilization.
→Inorganic growth through planned acquisitions with near-term closure expected, funding and debt-equity structure to optimize financials.

3 more insights locked — sign up free to unlock

Fundraise plans

- The company is currently in final negotiations for an acquisition in India, with plans to work out funding and debt-equity structure upon deal closure. (Page 15) - Interest cost is high (~Rs. 16 crores), and the management is vigilant about managing debt-equity ratio and equity structure to avoid debt pressure. (Page 15) - Amrut Gada mentioned that once the acquisition deal is closed, they will plan proper funding, including equity to manage leverage. (Page 15) - No explicit mention of new debt or equity fundraising announced yet; plans are contingent on acquisition finalization expected within the financial year with ~90% probability. (Page 15) - Working capital improvements ongoing but no direct mention of fresh capital raise via debt/equity outside acquisition-related funding. (Page 10) In summary, no confirmed current fundraising, but acquisition plans imply likely near-term funding through debt and/or equity.

Order book

Yes

→Current order book position is around Rs. 25 crores.
→The company is booking approximately Rs. 25 to 30 lakhs worth of orders daily on average.
→Ongoing orders come from around 250 customers.
→Efforts are ongoing to increase supply share with existing customers (e.g., from 20% to 25-30% of their requirements).
→The order book covers both India and UAE markets, supporting revenue guidance for the next 3 to 6 months.
→On railway glass tenders, bidding is underway, with expected initial orders of Rs. 50 to 60 lakhs per month, expected to gradually increase.
→Overall, there is a healthy pipeline supporting revenue targets in the range of Rs. 265 to 280 crores consolidated for FY25.

Capex plans

Yes

→No immediate CAPEX plans for UAE facility as of October 28, 2024, but expansion plans are being worked on and may be announced in the next quarter.
→The Ras Al-Khaimah facility currently utilizes about 25% of the total land (20 acres), with 2.5 lakh sq ft. of construction area.
→The company is in final negotiation stages for a domestic acquisition aimed at inorganic growth; expected positive update within a month.
→Post-acquisition, the company will work on funding and debt-equity structure cautiously to manage the existing high finance cost (~Rs. 16 crores).
→Investment focus remains on increasing capacity utilization in India and UAE, expanding product portfolio, and introducing new products like bulletproof glass.
→Future possible CAPEX depends on market demand and capacity requirements, especially in UAE, but no firm commitments as of now.

How does Sejal Glass Ltd rank vs peers in Industrial Products?

Pro feature

1Sejal Glass Ltd

Rev 3Mar 2

See full Industrial Products sector rankings

Want more stocks like Sejal Glass Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio