Standard Glass Lining Technology Completes 51% Acquisition of C2C Engineering

Standard Glass Lining Technology Limited (SGLTL) has successfully finalized its acquisition of a majority stake in C2C Engineering Private Limited, marking a significant corporate move. The company announced the completion of the transaction on November 19, 2025, following the execution of necessary agreements and the transfer of purchase consideration.

Key Highlights of the Acquisition

Stake Acquired: SGLTL has acquired a 51% shareholding in C2C Engineering Private Limited.
Effective Date: The acquisition was completed on November 19, 2025.
Transaction Details: The purchase consideration has been remitted to the existing shareholders of C2C Engineering as per the Share Purchase Agreement (SPA) executed on November 14, 2025.
Governance Framework: A Shareholders' Agreement (SHA) was executed on the completion date, formalizing the post-acquisition governance structure.

Impact and Implications

Subsidiary Status: With this acquisition, C2C Engineering Private Limited has become a subsidiary of Standard Glass Lining Technology Limited.
Board Control: SGLTL now holds significant influence over C2C Engineering's board, with the right to nominate three out of five directors.
Management Continuity: Mr. Raghavan Nambi will continue as the Managing Director of C2C Engineering, while Mr. Ramarao Ravindran will serve as a Director.

Governance and Shareholding Structure

Aspect	Details
Board Composition	5 directors (3 nominated by SGLTL, 2 from C2C Engineering)
SGLTL Shareholding	51% of C2C Engineering's equity
Remaining Shareholding	49% held collectively by existing shareholders

Regulatory Compliance

SGLTL has affirmed its commitment to complete all necessary post-acquisition filings under the Companies Act, 2013, including ROC filings, within the stipulated statutory timelines. The company has also made the required disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This strategic acquisition by Standard Glass Lining Technology Limited is expected to strengthen its market position and potentially create synergies between the two companies. Investors and stakeholders will be keenly watching how this acquisition impacts SGLTL's future growth and operational capabilities in the coming months.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.20%	-2.35%	-5.71%	-5.92%	+1.92%	+1.92%

Standard Glass Lining Technology Limited (SGLTL) has reported robust financial results for the first half of fiscal year 2026, despite facing some challenges in export shipments. The company also announced plans for strategic expansion and a proposed name change to reflect its evolving business model.

Financial Highlights

For H1 FY26, SGLTL reported:

Metric	Amount (INR)
Total Income	366.00 crores
EBITDA	69.00 crores
PAT	42.00 crores

The company faced export shipment deferrals worth INR 40.00-45.00 crores from H1 to H2 due to delayed customer inspections, which impacted the quarterly performance.

Strategic Developments

Proposed Name Change

SGLTL has proposed changing its name to Standard Engineering Technology Limited, subject to shareholder approval. This change aims to reflect the company's evolution from a specialized equipment manufacturer to a comprehensive engineering solutions provider.

Acquisition of C2C Engineering

The company is acquiring a 51% stake in C2C Engineering Private Limited for INR 12.25 crores. This acquisition is expected to integrate process design and engineering capabilities, enhancing SGLTL's ability to offer end-to-end solutions.

Capacity Expansion

SGLTL is investing in a new manufacturing facility:

36-acre land acquired
Planned investment of INR 120.00-130.00 crores
6,00,000 square feet facility
Increased crane capacity from 60 tons to 100 tons
Enhanced fabrication capabilities from 60 mm to 100 mm thickness

The new facility is expected to be completed in 14-18 months.

Business Outlook

Current order book stands at INR 750.00-800.00 crores
The company expects 20-25% growth for the year
Glass lining contributes 35% of revenue, with metal equipment making up the rest
Exports are projected to reach 12-13% of total revenue for the year

Product Innovation

SGLTL has introduced shell and tube glass-lined heat exchangers, developed in partnership with GL Hakko of Japan. These heat exchangers offer significant advantages over traditional graphite heat exchangers:

Longer lifespan (15 years compared to 2-3 years for graphite)
Higher price point (approximately double the cost of graphite exchangers)
Particle-free operation, crucial for pharmaceutical and chemical industries

The company plans to ramp up production of these heat exchangers to 300 units per month by April 2026.

Market Trends

Strong demand from large pharmaceutical companies (revenue > INR 2,000.00 crores)
Slower capex spending from smaller pharma firms (revenue < INR 500.00 crores)
Increasing interest from agrochemical sector, with two major clients added recently

SGLTL's Managing Director, Mr. Nageswara Rao Kandula, expressed confidence in the company's growth trajectory, stating, "We have built something very unique in today's industrial world, a company that can design, engineer, process, manufacture, automate, install, commission, and validate complex projects with complete in-house control."

As Standard Glass Lining Technology Limited continues its transformation into a comprehensive engineering solutions provider, investors will be watching closely to see how these strategic moves translate into long-term value creation.

About Standard Glass Lining Technology Limited

Standard Glass Lining Technology Limited is an Indian engineering company specializing in the design, manufacture, and supply of glass-lined equipment and comprehensive engineering solutions for the pharmaceutical, chemical, and process industries. With its proposed name change and recent acquisitions, the company is positioning itself as a leader in precision engineering and turnkey project solutions.