Promoter group member Aalap Nilesh Patel has acquired a 10.00% stake in HLE Glascoat Limited through an inter-se transfer of shares by way of gift from his father, Nilesh Khushalbhai Patel.

The acquisition involves 69,45,474 equity shares transferred between immediate relatives within the promoter group. The transaction was executed on September 10, 2026, and disclosed to stock exchanges on September 11, 2026, under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The share transfer occurred between qualifying persons who are immediate relatives. No encumbrances, pledges, or liens were reported on the acquired shares. The acquisition was exempted from making an open offer under Regulation 10(1)(a)(i) of the Takeover Regulations.

Post-Transaction Holding

Following the acquisition, Aalap Nilesh Patel’s total holding in HLE Glascoat Limited increased to 78,89,639 equity shares, representing 11.36% of the total voting capital. This is an increase from his pre-acquisition holding of 9,44,165 shares (1.36%).

Conversely, Nilesh Khushalbhai Patel’s holding decreased from 1,72,06,114 shares (24.77%) to 1,02,60,640 shares (14.77%).

Promoter Group Shareholding

The total shareholding of the promoter and promoter group remains unchanged at 4,55,89,060 shares, representing 65.65% of the total share capital. The company’s total equity share capital remains at 6,94,54,739 equity shares of ₹2 each.

What the Numbers Show

The internal restructuring consolidates voting power with Aalap Nilesh Patel while reducing the individual holding of Nilesh Khushalbhai Patel. However, since both parties are part of the same promoter group acting in concert, the effective control and total promoter stake in HLE Glascoat Limited remain static at 65.65%. This indicates no change in the overall ownership structure or control dynamics of the company.

HLE Glascoat submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 to the BSE and NSE on September 7, 2026. The filing discloses revenue from operations of ₹7,231.15 crore, up from ₹5,510.69 crore in the prior year.

The company reported total energy consumption of 1,18,980 GJ, with non-renewable sources accounting for 1,10,419 GJ. Renewable energy usage rose to 8,560 GJ from 5,300 GJ in FY25.

Financial and Operational Metrics

The BRSR filing provides a snapshot of the company’s financial scale and operational footprint for the reporting period.

Energy and Emissions

HLE Glascoat disclosed its greenhouse gas emissions and energy intensity metrics. Total Scope 1 and Scope 2 emissions were recorded at 17,034.85 metric tonnes of CO2 equivalent.

What the Numbers Show

Revenue growth outpaced the increase in total energy consumption during the year. While revenue rose by approximately 31%, total energy consumption increased by roughly 22%. This divergence suggests improved energy efficiency per unit of turnover, supported by the decline in energy intensity from 1.77 GJ/Million INR in FY25 to 1.65 GJ/Million INR in FY26.

Waste and Water Management

Total waste generated doubled to 1,275.95 metric tonnes from 626.68 metric tonnes in the previous year. The company reported recycling or reusing all generated waste, with zero disposal via landfilling or incineration.

Water withdrawal stood at 13,260 kilolitres, primarily from groundwater (9,485 kL) and other sources (3,775 kL). The company stated it has no effluent generation and thus no water discharge.

Human Capital

As of the end of FY26, HLE Glascoat employed 594 permanent employees and engaged 1,504 workers. The workforce is predominantly male, with women constituting 7% of employees and 2% of workers. The company reported a turnover rate of 23% for permanent employees, down from 27% in FY25.