HLE Glascoat Ltd (IN:HLEGLAS)
:HLEGLAS
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HLE Glascoat Ltd
(HLEGLAS)
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Rating:52Neutral
Price Target:
₹307.00
▼(-31.73% Downside)
Action:Reiterated
Date:05/19/26
The score is held up by solid financial fundamentals—good revenue momentum, improving leverage, and a rebound in cash generation since 2024—but is materially weighed down by weak technicals (trading below key moving averages) and an expensive valuation (very high P/E with a low dividend yield).
Positive Factors
Revenue Growth Momentum
Sustained top-line growth that accelerated in 2026 signals durable demand for HLE Glascoat’s glass-lined equipment. Stronger revenue momentum supports scale advantages, backlog visibility, and recurring aftermarket opportunity, improving capacity to invest in production and services over the medium term.
Negative Factors
Margin Volatility
Material declines and volatility in net margins indicate weaker pricing power or rising input/operating costs that compress profitability. Persistently lower margins limit the company’s internal funding for R&D, capacity expansion, and service capabilities, making returns sensitive to cost swings and contract mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained top-line growth that accelerated in 2026 signals durable demand for HLE Glascoat’s glass-lined equipment. Stronger revenue momentum supports scale advantages, backlog visibility, and recurring aftermarket opportunity, improving capacity to invest in production and services over the medium term.
Read all positive factors
HLE Glascoat Ltd (HLEGLAS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹22.64B
Dividend Yield0.24%
Average Volume (3M)29.39K
Price to Earnings (P/E)34.9
Beta (1Y)1.33
Revenue Growth31.67%
EPS Growth5.55%
CountryIN
Employees740
SectorBasic Materials
Sector Strength58
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)10.04
Shares Outstanding69,454,740
10 Day Avg. Volume31,164
30 Day Avg. Volume29,386
Financial Highlights & Ratios
PEG Ratio6.62
Price to Book (P/B)3.23
Price to Sales (P/S)1.27
P/FCF Ratio22.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
HLE Glascoat Ltd Business Overview & Revenue Model
Company Description
HLE Glascoat Limited designs and manufactures carbon steel glass lined equipment in India and internationally. It offers reactors, receivers, storage tanks, columns, agitators, valves, pipes and fittings, and other similar equipment and related sp...
How the Company Makes Money
HLE Glascoat primarily makes money by manufacturing and selling process equipment, with revenue typically driven by: (1) Sale of glass-lined reactors, vessels, and related glass-lined components supplied to chemical and pharmaceutical process plan...
HLE Glascoat Ltd Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
66
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.99B | 13.53B | 10.28B | 9.68B | 9.32B | 6.53B |
| Gross Profit | 5.01B | 2.77B | 4.64B | 5.18B | 4.99B | 3.03B |
| EBITDA | 1.56B | 1.40B | 1.34B | 1.15B | 1.44B | 1.08B |
| Net Income | 555.82M | 494.24M | 467.14M | 296.87M | 698.14M | 581.68M |
Balance Sheet | ||||||
| Total Assets | 14.16B | 13.82B | 12.93B | 12.02B | 8.91B | 7.60B |
| Cash, Cash Equivalents and Short-Term Investments | 625.02M | 584.98M | 521.57M | 332.86M | 274.79M | 249.30M |
| Total Debt | 3.82B | 3.48B | 3.81B | 3.90B | 2.57B | 2.17B |
| Total Liabilities | 8.30B | 7.64B | 7.39B | 7.05B | 5.64B | 5.07B |
| Stockholders Equity | 5.07B | 5.34B | 4.59B | 4.17B | 3.27B | 2.54B |
Cash Flow | ||||||
| Free Cash Flow | 514.38M | 753.62M | 679.75M | 390.92M | -435.87M | -590.78M |
| Operating Cash Flow | 745.76M | 1.31B | 1.34B | 942.62M | 48.76M | 103.00M |
| Investing Cash Flow | -484.80M | -883.86M | -683.81M | -454.71M | -404.18M | -1.73B |
| Financing Cash Flow | -288.74M | -522.11M | -596.75M | -182.03M | 132.94M | 1.60B |
HLE Glascoat Ltd Technical Analysis
Positive
449.70
Price Trends
308.53
Positive
347.45
Negative
421.38
Negative
Market Momentum
0.81
Positive
51.84
Neutral
39.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HLEGLAS, the sentiment is Positive. The current price of 449.7 is above the 20-day moving average (MA) of 327.66, above the 50-day MA of 308.53, and above the 200-day MA of 421.38, indicating a neutral trend. The MACD of 0.81 indicates Positive momentum. The RSI at 51.84 is Neutral, neither overbought nor oversold. The STOCH value of 39.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HLEGLAS.
HLE Glascoat Ltd Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹39.60B | 43.98 | ― | 0.77% | 25.23% | -11.53% | |
67 Neutral | ₹79.35B | 24.01 | ― | 0.59% | -0.51% | -4.93% | |
62 Neutral | ₹142.78B | 48.57 | ― | 0.51% | 4.54% | 1.65% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | ₹10.96B | 47.85 | ― | 0.36% | -3.51% | -6.24% | |
52 Neutral | ₹22.64B | 34.86 | ― | 0.24% | 31.67% | 5.55% | |
52 Neutral | ₹36.29B | 51.90 | ― | 0.19% | 10.17% | 8.26% |
* Basic Materials Sector Average
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HLE Glascoat Ltd Corporate Events
HLE Glascoat files SEBI Regulation 74(5) demat compliance certificate
Apr 17, 2026
HLE Glascoat Ltd has submitted a confirmation certificate to the stock exchanges under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing, issued with support from its registrar MUFG Intime India, states tha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.