Glen Industries Limited reported a profit after tax (PAT) of ₹1,650.25 lakhs for the financial year ended March 31, 2026, on a total income of ₹20,515.86 lakhs. The company plans to invest ₹10,049.00 lakhs in new manufacturing facilities and production lines to enhance automation and operational efficiency. For the half-year ended March 31, 2026 (H2 FY26), the company posted a PAT of ₹819.71 lakhs on a total income of ₹10,859.51 lakhs.

Financial Performance

The board approved the audited consolidated and standalone financial results for the half-year and financial year ended March 31, 2026. The company’s earnings per share (EPS) for FY26 stood at ₹6.86, while H2 FY26 EPS was ₹3.41.

Operational Highlights

Glen Industries operates a 90,000 sq. ft. advanced facility in Dhulagarh, West Bengal. The company expanded its manufacturing capacity across thin-wall containers, PLA straws, and paper straws during the year. It maintains a presence in over 26 states and 30 countries, serving clients in the food service, QSR, FMCG, and retail sectors. The company holds certifications including FSSC 22000, ISO 9001:2015, ISO 14001:2015, HACCP, SEDEX 4-Pillar, and FSC.

Strategic Growth Roadmap

The company outlined a strategic roadmap focusing on diversification of product categories and sustainability initiatives. Key growth drivers include leveraging industry insights to diversify the customer base and optimal utilization of manufacturing processes. The planned investment of ₹10,049.00 lakhs aims to expand technological capabilities and drive cost competitiveness.

Management Commentary

Mr. Lalit Agrawal, Chairman & Director, attributed the performance to the strength of the product portfolio and growing demand for sustainable packaging. He noted that increased demand for thin-wall containers and eco-friendly alternatives supported growth despite geopolitical conflicts. The leadership team includes Mr. Nikhil Agrawal as Promoter and Managing Director and Ms. Niyati Seksaria as Promoter and Whole-Time Director.

Glen Industries Limited has announced a change in its statutory auditors following a board meeting held on May 21, 2026. The company accepted the resignation of M/s. S N Guha & Co, Chartered Accountants, who cited the non-renewal of their Peer Review Certificate as the reason for their inability to continue. The resignation was effective immediately from May 21, 2026.

To fill the casual vacancy created by this resignation, the board of directors approved the appointment of M/s. Tosniwal & Associates, Chartered Accountants. The new auditors will hold office until the conclusion of the company's ensuing annual general meeting. The appointment is based on the recommendation of the Audit Committee but remains subject to approval by the shareholders.

The Audit Committee reviewed the circumstances surrounding the resignation and confirmed alignment with the reasons stated in the resignation letter. The committee noted that the outgoing auditors had not raised any concerns or issues during their tenure. The outgoing auditors also confirmed there were no reasons for their departure other than those mentioned in their resignation letter.

Details of Auditor Change

The transition details regarding the resignation and the subsequent appointment have been disclosed in accordance with SEBI regulations. The table below summarizes the key particulars of the change in statutory auditors.

M/s. Tosniwal & Associates is a professionally managed firm registered with the Institute of Chartered Accountants of India (ICAI). The firm provides services including statutory audit, internal audit, taxation, and corporate advisory. The company has confirmed that no proceedings are pending against the new audit firm regarding professional matters of conduct.