Sejal Glass disclosed that its founder and promoter, Amrut Gada, participated in a television interview recorded on August 25, 2026. The company confirmed the interaction did not involve any unpublished price-sensitive information.

The interview was part of a programme titled "Untold Journeys," produced for broadcast on television and digital platforms. It was filmed at the office and factory premises of Sejal Glass and Glass Manufacturing Products LLC, a subsidiary based in Ras Al Khaimah, United Arab Emirates.

Interview Details

During the session, Mr. Gada discussed his entrepreneurial journey, business experiences, and the growth of the company's operations in the UAE. The footage also included views of the subsidiary's manufacturing and operational facilities.

The programme is scheduled for release on a future date to be decided by the production agency. The company stated it will share relevant details or web links once the content becomes publicly available.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Sejal Glass clarified that the discussion was based solely on information already available in the public domain.

Ashwin S. Shetty, Vice President – Operations & Company Secretary, signed the intimation submitted to the Bombay Stock Exchange and the National Stock Exchange of India.

Sejal Glass Limited reported a robust start to FY27, with consolidated revenue rising 52.88% year-on-year to ₹117.95 crore in the quarter ended June 30, 2026. Profit after tax (PAT) surged 63% to ₹7.22 crore, driven by strong execution in both its India and UAE operations. The company also raised its full-year revenue growth guidance, citing a healthy order pipeline and improving capacity utilization across its manufacturing facilities.

The performance was underpinned by significant growth in both geographies. India revenue increased 67.03% to ₹36.43 crore, while UAE operations contributed ₹81.52 crore, up 47.31% year-on-year. Consolidated EBITDA grew over 44% to ₹18 crore. Management attributed the margin pressure in the quarter to one-time factors, including annual performance appraisals and a new labor union agreement at the Taloja plant, which added approximately ₹1 crore to personnel costs. Additionally, geopolitical tensions in the Middle East temporarily disrupted logistics in June, impacting costs.

Order Book and Growth Guidance

The company’s order book has strengthened considerably. In the UAE, the order book expanded from AED50 million to AED72 million, reflecting an incremental inflow of AED22–27 million. Execution on these projects began in June and July, providing visibility for the next two quarters. In India, Sejal Glass secured orders exceeding ₹50 crore from major developers including Godrej, L&T, Prestige, and Raheja, with execution planned over the next six months.

Promoter Amrut Gada stated that the initial FY27 revenue growth guidance of around 25% is now a minimum target, with potential upside to 40% if geopolitical situations stabilize and order inflows continue. CFO Chandresh Rambhia clarified that while 25% is the conservative baseline, the company aims for 9–10% PAT margin for the full year, up from the current quarter’s lower base.

Capacity Utilization and Capex

Capacity utilization varies across plants, with the Silvassa unit at 77%, Taloja at 55%, Erode at 15%, and the UAE plant at 71%. Management expects Silvassa and UAE utilization to reach 85–90% by year-end, while Taloja and Erode are targeted to improve to 75% and 25–30%, respectively. Higher volumes are expected to absorb fixed costs, particularly power and manpower, driving EBITDA margins up by approximately 1% in coming quarters.

In the UAE, the company is investing AED15 million in capital expenditure to install a third tempering line and fire-rated glass technology. This capex is funded through internal accruals and a proposed long-term debt facility of AED7 million. The new line is expected to commence commercial production in Q3FY27, increasing total annual tempering capacity to 24 lakh square meters.

Financial Position and Outlook

Sejal Glass maintains a conservative balance sheet. Total debt in India stands at ₹52 crore, comprising ₹38 crore in term loans and ₹14 crore in working capital debt. The company has minimal cash reserves due to active working capital limits. India’s profit remains tax-free due to carry-forward losses, which can be utilized for the next four to five years, resulting in a blended effective tax rate of less than 9% driven by the UAE’s 9% corporate tax.

Looking ahead, management emphasized a strategic shift towards geographical diversification. While UAE contributed 75% of revenue last year, this share is expected to drop to 60% in FY27 and further to 50% in FY28 as India operations scale. The company is also exploring entry into the automotive replacement market and industrial products, targeting these new verticals to contribute 10% of total revenue next year. Railway glass currently contributes less than 1% but is growing through aggressive tender participation.

What the Numbers Show

The divergence between top-line growth and margin expansion highlights the company’s current phase of capacity ramp-up. While revenue surged by nearly 53%, margins were compressed by one-time cost increments and sub-optimal utilization in newer Indian plants (Erode at 15%). However, the significant order book visibility—₹50 crore in India and AED72 million in UAE—suggests that operating leverage will kick in during H2FY27. The strategic focus on reducing reliance on the UAE market, aiming for a 50-50 revenue split by FY28, mitigates geopolitical risk while leveraging domestic infrastructure growth.