HLE Glascoat Limited

NSE: HLEGLAS · Unclassified

₹414.70-0.28%06 Nov 2026

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Instant answers about HLE Glascoat Limited — computed from its filings, no language model

Market cap₹2,880 cr

Current price₹414.70

High / Low₹645 / ₹251

P/E75.6

P/B5.30

Book value₹78.3

ROE7.0%

ROCE10.0%

Debt / equity0.60

Dividend yield0.26%

EPS (TTM)₹5.49

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

	FY23	FY24	FY26
Revenue	932	968	1,353
EBITDA	137	112	140
Operating margin	14.7%	11.6%	10.3%
Interest	23	31	34
Depreciation	23	26	36
Profit before tax	99	59	71
Tax	30	18	14
Net profit	70	30	49
EPS ₹	10.37	5.99	7.20
Operating cash flow	6	93	161
Capex	48	54	56
Dividend paid	7	8	8
Total assets	891	1,202	1,382
Equity	327	417	534

Quarterly performance

last 15 quarters · ₹ crore

showing latest 8 of 15 periods

	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	214	298	197	224	239	307	227	236	231	284	351	327	392	301	347
Operating profit	26	44	23	26	25	36	22	34	26	38	38	21	43	21	37
Operating margin	12.0%	14.9%	11.8%	11.8%	10.3%	11.9%	9.6%	14.5%	11.1%	13.2%	10.9%	6.5%	10.9%	7.0%	10.6%
Other income	2	3	1	3	4	2	2	1	2	2	2	3	1	2	2
Interest	5	9	5	6	10	10	9	9	9	9	9	8	9	8	8
Depreciation	6	6	6	6	7	7	7	7	7	8	9	10	10	10	10
Profit before tax	17	33	13	16	8	21	7	20	11	23	19	4	25	4	21
Tax	5	10	4	6	2	6	2	5	1	5	5	-1	5	2	5
Net profit	12	23	9	10	3	10	3	13	8	15	12	3	18	3	14
EPS ₹	1.80	3.34	1.36	1.52	0.88	2.16	0.79	2.11	1.51	2.62	1.76	0.41	2.65	0.40	2.06
Revenue YoY	—	—	—	—	11.7%	2.9%	15.2%	5.1%	-3.5%	25.0%	48.8%	41.4%	—	5.9%	-1.2%
Profit YoY	—	—	—	—	-75.6%	-56.4%	-63.4%	32.7%	183.0%	334.1%	-5.5%	-66.7%	—	-81.2%	19.3%

Earlier results (standalone, Sep '07 – Sep '22)

₹ crore · from BSE, before the NSE XBRL filings begin

HLE Glascoat Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 13 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†	FY20†	FY22†
Revenue	42	46	53	70	76	77	88	92	81	99	125	279	508
Operating profit	6	6	8	9	10	10	11	11	9	10	13	45	88
Operating margin	14.0%	13.6%	15.2%	12.3%	13.3%	13.2%	12.3%	12.3%	11.5%	10.3%	10.5%	16.1%	17.2%
Other income	0	0	0	1	0	0	0	1	0	1	1	5	14
Interest	2	2	3	3	3	3	3	3	3	1	2	7	11
Depreciation	1	1	2	2	2	2	2	2	3	3	3	5	9
Profit before tax	3	4	4	5	5	6	6	6	5	7	10	38	81
Tax	1	1	1	2	2	2	1	2	2	1	3	11	19
Net profit	2	2	3	3	4	4	5	4	3	5	7	27	62

Quarters

showing latest 8 of 60 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†	JUN '19†	SEP '19†	DEC '19†	MAR '20†	SEP '20†	DEC '20†	MAR '21†	JUN '21†	SEP '21†	DEC '21†	MAR '22†	JUN '22†	SEP '22†
Revenue	8	10	14	9	12	11	10	10	12	11	13	12	13	14	14	17	16	19	18	17	23	18	17	16	16	24	20	21	24	22	21	26	20	24	23	17	20	22	23	24	19	24	32	28	27	31	39	40	41	99	99	109	115	127	112	110	129	158	141	147
Operating profit	1	2	2	1	1	2	2	1	1	1	2	2	2	2	2	2	2	2	2	2	3	2	3	2	2	3	3	3	3	3	3	3	3	3	2	2	3	3	2	2	3	3	3	3	3	4	4	5	6	18	17	18	25	22	22	19	22	24	21	20
Operating margin	9.9%	14.9%	17.8%	15.2%	10.5%	15.2%	15.8%	14.2%	11.4%	11.2%	17.3%	15.6%	15.6%	13.3%	16.2%	13.5%	13.3%	12.6%	9.9%	13.1%	12.0%	12.6%	15.9%	13.3%	14.8%	11.8%	13.5%	12.4%	12.1%	12.4%	12.5%	11.6%	16.5%	13.2%	8.4%	10.8%	13.5%	12.5%	9.4%	6.8%	13.9%	11.9%	9.7%	10.9%	9.7%	12.7%	9.1%	11.8%	13.7%	17.6%	17.4%	16.9%	21.8%	17.6%	19.3%	17.5%	17.4%	15.3%	15.0%	13.5%
Other income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	0	0	0	0	0	2	3	2	3	5	2	3	6	3	3	3
Interest	0	0	1	1	1	1	1	0	0	0	1	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	1	1	1	1	3	3	3	2	2	2	2	3	4	3	5
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	1	1	2	2	2	2	2	2	2	2	3	3	3
Profit before tax	0	1	2	1	0	1	1	1	1	1	2	1	1	1	1	1	1	1	1	1	2	1	1	1	1	2	2	1	2	1	1	2	2	2	1	1	2	1	1	1	2	2	3	2	2	3	3	3	4	15	15	16	24	23	20	18	23	20	18	15
Tax	0	0	1	0	0	0	0	0	0	0	1	0	0	0	0	0	0	0	0	0	0	0	1	0	0	1	1	0	1	0	-0	1	1	1	0	0	1	0	0	0	1	1	0	1	0	1	1	1	1	4	5	4	7	5	6	5	6	3	5	4
Net profit	0	1	1	0	0	0	1	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	1	1	1	0	1	1	3	1	1	2	2	3	3	11	11	11	17	18	14	13	17	18	13	11
EPS ₹	—	1.36	2.12	0.93	0.62	0.90	1.06	0.10	0.85	0.79	2.03	1.39	1.53	1.40	1.24	1.58	1.56	1.40	1.73	1.58	2.06	1.78	1.80	1.63	1.58	2.17	2.22	1.88	2.38	1.94	2.89	2.43	2.25	2.49	1.15	0.74	2.02	1.97	1.38	0.64	1.75	1.78	4.08	2.27	2.21	3.19	3.02	4.17	4.74	8.28	8.33	1.15	12.09	15.33	11.11	9.72	12.33	-0.87	9.54	1.60
Revenue YoY	—	—	—	—	41.9%	12.4%	-29.7%	7.1%	2.5%	-6.0%	29.4%	16.3%	3.5%	33.3%	14.7%	50.7%	28.4%	32.4%	23.3%	-2.5%	39.4%	-2.3%	-2.1%	-4.2%	-29.1%	31.1%	16.3%	27.8%	50.2%	-7.2%	3.5%	24.8%	-17.7%	6.0%	8.3%	-34.9%	-1.2%	-6.2%	-0.8%	41.8%	-1.4%	6.2%	40.3%	17.3%	40.7%	30.5%	22.3%	41.8%	48.0%	222.4%	155.9%	168.6%	15.9%	27.9%	—	0.9%	11.7%	24.3%	25.4%	33.6%
Profit YoY	—	—	—	—	19.2%	-33.8%	-50.0%	4.3%	35.5%	-11.1%	92.5%	40.8%	83.3%	75.0%	-39.2%	14.5%	1.3%	0.0%	38.7%	0.0%	32.1%	27.1%	4.7%	2.5%	-23.3%	22.5%	23.3%	16.0%	50.6%	-11.0%	29.7%	28.7%	-5.9%	27.8%	-60.4%	-69.4%	-9.8%	-20.2%	21.1%	10.8%	12.9%	17.2%	284.1%	261.0%	26.3%	78.4%	-26.0%	83.1%	113.9%	423.2%	449.5%	268.2%	56.2%	65.9%	—	15.5%	-0.5%	-1.3%	-8.3%	-16.8%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 9 periods

	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '26	JUN '26	SEP '26
ROE	15.7%	13.0%	7.6%	6.2%	6.7%	8.0%	8.9%	6.7%	7.0%
ROCE	15.3%	14.6%	11.1%	10.9%	12.4%	12.7%	12.4%	10.2%	10.0%
Net margin	5.8%	4.7%	3.3%	2.6%	2.9%	3.4%	3.5%	2.6%	2.8%
EBITDA margin	12.8%	12.4%	11.4%	11.0%	11.6%	11.8%	10.3%	9.0%	8.9%
Debt / equity	0.98	0.98	0.93	0.93	0.76	0.76	0.59	0.59	0.60
Interest coverage	4.19	3.40	2.92	2.49	2.47	2.59	3.06	2.53	2.62
Asset turnover	0.78	0.80	0.81	0.83	0.85	0.84	0.98	0.99	0.95

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 7 periods

	MAR '23	SEP '23	MAR '24	SEP '24	SEP '25	MAR '26	SEP '26
Share capital	14	14	14	14	14	14	14
Other equity / reserves	313	330	403	418	493	520	530
Total equity	327	344	417	431	507	534	544
Borrowings	247	337	390	328	349	313	328
Current liabilities	397	495	487	482	653	604	624
Non-current liabilities	167	239	218	188	177	160	187
Total assets	891	1,195	1,202	1,184	1,416	1,382	1,438
Property, plant & equipment	313	341	345	354	411	429	422
Capital work-in-progress	3	9	19	31	9	4	11
Investments	0	0	0	0	0	0	0
Inventories	268	352	312	335	392	356	440
Receivables	243	220	237	156	266	270	251
Cash & equivalents	3	30	33	26	41	34	15

Cash flow

annual · ₹ crore · line = free cash flow

	FY23	FY24	FY26
Cash from operations	6	93	161
Cash from investing	-41	-45	-86
Cash from financing	13	-18	-85
Capex	48	54	56
Free cash flow	-43	39	106
Dividends paid	7	8	8

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹422 cr29%

CWIP

₹11 cr1%

Inventories

₹440 cr31%

Receivables

₹251 cr17%

Cash & equivalents

₹15 cr1%

Other assets

₹300 cr21%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
HLE Glascoat Limited	2,880	414.70	75.6	5.30	7.0%

StoxGud checklist: Neutral setup · 5/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-11.7%

6 months+15.6%

1 year-27.4%

3Y CAGR-7.3%

5Y CAGR-21.3%

10Y CAGR—

50-day avg₹398.28

200-day avg₹364.75

RSI (14)50

FAQs

What is the share price of HLE Glascoat Limited?

HLE Glascoat Limited (HLEGLAS) closed at ₹414.70 on NSE on 06 Nov 2026.

What is the market cap of HLE Glascoat Limited?

₹2,880 crore at the latest close.

What is the P/E ratio of HLE Glascoat Limited?

75.6, on trailing-twelve-month earnings from its filings.

How fast is HLE Glascoat Limited growing?

HLE Glascoat Limited: Latest-quarter revenue is down 1.2% year on year, profit up 19.3%.

How profitable is HLE Glascoat Limited?

On a trailing-twelve-month basis return on equity is 7.0%, return on capital employed 10.0%, operating margin 8.9%, net margin 2.8%.

How much debt does HLE Glascoat Limited have?

HLE Glascoat Limited is moderately geared: debt to equity is 0.60 with borrowings of ₹328 cr against cash of ₹15 cr (balance sheet of 2026-09-30). Operating profit covers interest 2.6 times.

Financials parsed from HLE Glascoat Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from DEC '22, annual from FY23, balance sheet from Mar '23. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.