Market Leader in Filtration and Drying Equipment Reports 33 Per Cent Jump in Net Profit
HLE Glascoat has reported a solid performance for the second quarter of FY25, with the company's consolidated net profit surging 33.27% year-on-year (YoY) to Rs 14.42 crore.
HLE Glascoat Ltd has reported a solid performance for the second quarter of FY25, with the company's consolidated net profit surging 33.27 per cent year-on-year (YoY) to Rs 14.42 crore. This growth came on the back of a 5.06 per cent rise in revenue from operations, which reached Rs 235.77 crore in Q2 FY25, as compared to the same quarter in FY24.
Financial Performance
The company’s profit before tax (PBT) grew by 21 per cent YoY to Rs 19.53 crore, reflecting strong operational management. HLE Glascoat’s EBITDA, which includes other income, also saw an 18.9 per cent increase to Rs 35.48 crore, up from Rs 29.85 crore in Q2 FY24. Consequently, the EBITDA margin expanded by 170 basis points, reaching 15.1 per cent in Q2 FY25, compared to 13.3 per cent in the year-ago period.
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Revenue performance across HLE Glascoat’s business segments was mixed. The Filtration, Drying, and Other Equipment segment reported a 35.5 per cent decline in revenue, coming in at Rs 64.95 crore. Meanwhile, revenue from the glass-lined equipment segment recorded an 18.4 per cent YoY increase, reaching Rs 144.39 crore.
As of the end of September 2024, HLE Glascoat’s order book stood at a robust Rs 602.47 crore.
Strategic Initiatives & Management Commentary
In line with its renewable energy goals, HLE Glascoat has entered into an agreement to acquire a 26 per cent equity stake in Clean Max Anchorage P Ltd (CMAPL). This acquisition is expected to facilitate access to a captive open-access energy model in Gujarat, helping the company to enhance renewable energy usage while lowering energy costs.
Commenting on the results, Mr. Himanshu K. Patel, Managing Director of HLE Glascoat, stated, “Despite global challenges over the past six quarters, that delayed capex decisions by chemical companies and other user industries, we are pleased to report a stable performance for the quarter and half-year. This performance was supported by a robust order book, which grew by approximately 27 per cent sequentially.”
Disclaimer: This article is for informational purposes only and not investment advice