Synopsis: HRS Aluglaze reported a strong FY26 performance driven by healthy project execution, rising demand across segments, new order wins and expansion plans aimed at strengthening future production capabilities.
The shares of this micro cap company majorly engaged in the design, manufacturing, and installation of aluminium products, including windows, doors, curtain walls, cladding and many more were in focus after posting robust Q4 FY26 results.
With the market capitalization of Rs. 461 Crores, the shares of HRS Aluglaze Ltd were trading at around Rs. 239 per share which is 18 percent discount from its 52 week high of Rs. 293 per share and is trading at a P/E of 45.1 whereas industry P/E stands at 30.4
Strong FY26 Financial Performance
HRS Aluglaze Ltd delivered a strong financial performance in FY26 with consolidated revenue from operations rising 60.36 percent YoY to Rs. 67.53 crore compared to Rs. 42.11 crore in FY25. EBITDA increased 70.02 percent to Rs. 18.26 crore from Rs. 10.74 crore, while EBITDA margin improved by 154 basis points to 27.04 percent . Profit after tax nearly doubled by 98.56 percent to Rs. 10.21 crore against Rs. 5.14 crore in the previous year. PAT margin also improved by 291 basis points to 15.12 percent , while EPS rose 75 percent to Rs. 6.58 from Rs. 3.76.
H2 FY26 Shows Sharp Growth Momentum
The company witnessed strong momentum in the second half of FY26 as revenue surged 89.25 percent YoY to Rs. 41.20 crore compared to Rs. 21.77 crore in H2 FY25. EBITDA for the period jumped 157.63 percent to Rs. 9.79 crore from Rs. 3.80 crore, while PAT climbed sharply by 311.59 percent to Rs. 5.68 crore against Rs. 1.38 crore in the corresponding period last year. The growth was supported by timely execution of projects and sustained demand across its core business segments.
Expansion Plans to Support Future Growth
To strengthen production capabilities and support future expansion, the company initiated development of a new manufacturing facility at Rajoda, Ahmedabad with an estimated investment of around Rs. 16 crore. The proposed expansion adjoining the current facility spans 13,714 square meters, adding to its existing manufacturing facility spread across 11,176 square meters equipped with CNC precision machinery and powder coating facilities.
Rising Order Book and Business Expansion
HRS Aluglaze secured multiple work orders worth Rs. 12.76 crore during the year, with execution scheduled over the next 24 months, improving order book visibility and strengthening its execution pipeline. The company also incorporated Geotrix Pvt. Ltd. and acquired a business unit from Geotrix Building Envelope Pvt. Ltd. to strengthen its aluminium and architectural systems business and enhance integrated project execution capabilities for high-value projects.
Public Issue and Industry Outlook
The company successfully completed its Rs. 50.92 crore public issue in December 2025, which was subscribed 44.83 times, reflecting strong investor interest. With increasing construction activity across residential, commercial and infrastructure projects, the demand for façade, glazing and aluminium solutions continues to remain healthy. The company remains focused on improving operational efficiency, timely project delivery and expanding its market presence during FY27.
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