On 6 Nov 2026, Glass Wall Systems (India) was priced at ₹245.60, or 25.8× trailing earnings, against an industry P/E of 16.4×, and the shares are 23% below their 52-week high. Its ROCE of 42% is the highest among the 7 largest Engineering & Construction peers, and sales and net profit grew 23% and 73% a year over 3 years. The company has almost no debt. It is a small-cap company with a market cap of ₹2,160 Cr, ranked 43rd of 156 Engineering & Construction companies by market cap; the shares rose 14% over the past year.
- ₹242.41
- ₹249.84
- ₹239.60
- ₹248.99
- 6 L
Health check
- ReturnsIn line
+14.3% over a year, better than 4 of 7 peers.
- Price tagPricier
P/E 25.8 vs industry 16.4.
- GrowthStrong
Sales +23.3%, profit +73.2% a year over 3 years.
- ProfitabilityStrong
ROCE 42.0% vs peer median 19.9%.
- Balance sheetFair
Practically debt-free, Piotroski 5 of 9.
- Red flags1 to check
P/E of 25.8 against an industry P/E of 16.4.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹2,160 Cr
- Small cap
- P/E
- 25.8
- Industry 16.4
- Price to book
- 8.00
- Peers 4.92
- Dividend yield
- 0.00%
- ROE
- 38.6%
- Peers 17.9%
- ROCE
- 42.0%
- Peers 19.9%
- Debt to equity
- 0.03
- Debt ₹6.68 Cr
- EPS (TTM)
- ₹9.53
- Face value ₹2
- OPM (TTM)
- 19.9%
- Net margin 17.0%
- Sales growth
- +35.8%
- Latest quarter vs a year ago
- Profit growth
- −7.7%
- Latest quarter vs a year ago
- Price to sales
- 4.45
- EV/EBITDA 18.1
Strengths and risks
Strengths
- Return on equity of 38.6%.
- Return on capital employed of 42.0%.
- Practically debt-free.
- Quarterly sales up 35.8% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- P/E of 25.8 against an industry P/E of 16.4.
About Glass Wall Systems (India)
GLASS WALL SYSTEMS (INDIA) Limited engages in designing, manufacturing, and installation of building facades. The company offers glazing systems and architectural facade solutions designed for residential, commercial and industrial projects. It also utilizes advanced design and production software, dedicated production lines for unitized systems, doors, and windows, and operates manufacturing plants with in-house powder coating and sheet fabrication…
- Headquarters
- Mumbai
- Employees
- 370
- Sector
- Industrials
- ISIN
- INE644Q01039
- Website
- glasswallsystems.in
Price range
- Avg volume (3M)
- 1.4 Cr
- 1-year return
- plus 14.3%
- From 52-week high
- minus 22.7%
Peers · Engineering & Construction
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LTLarsen & Toubro | 4,117.70 | plus 1.67% | 5,66,549 | 31.7 | 19.6 | 14.6% | 9.6% | 1.05 | 16.1% | plus 3.2% |
| RVNLRail Vikas Nigam | 193.34 | minus 0.18% | 40,312 | 44.9 | 56.9 | 11.0% | 4.3% | 0.49 | 0.2% | minus 40.5% |
| CEMPROCemindia Projects | 1,323.30 | plus 2.79% | 24,405 | 36.4 | 24.2 | 37.1% | 10.4% | 0.35 | 25.5% | plus 49.2% |
| KPILKalpataru Projects International | 1,370.80 | minus 0.04% | 23,410 | 19.7 | 10.1 | 19.9% | 8.3% | 0.46 | 18.4% | plus 4.3% |
| NBCCNBCC (India) | 78.00 | minus 2.90% | 21,060 | 26.5 | 19.8 | 34.3% | 6.1% | 0.00 | 12.9% | minus 29.5% |
| ENGINERSINEngineers India | 292.70 | minus 1.94% | 16,451 | 18.3 | 21.5 | 28.1% | 21.2% | 0.00 | 5.7% | plus 51.1% |
| WABAGVA Tech Wabag | 1,988.20 | plus 6.57% | 12,434 | 29.4 | 20.8 | 16.3% | 10.9% | 0.09 | 9.9% | plus 33.2% |
| GLASSWALLGlass Wall Systems (India) | 245.60 | minus 1.36% | 2,160 | 25.8 | 20.3 | 42.0% | 19.9% | 0.03 | 23.3% | plus 14.3% |
| Median of 7 peers | – | −0.04% | 23,410 | 29.4 | 20.8 | 19.9% | 9.6% | 0.35 | 12.9% | 4.3% |
Quarterly results
| ₹ Cr | Jun 25 | Jun 26 |
|---|---|---|
| 79.1 | 107 | |
| 58.1 | 84.5 | |
| 21 | 22.9 | |
| 26.6% | 21.3% | |
| 4.8 | 2.5 | |
| 0.5 | 0.8 | |
| 0.8 | 1.5 | |
| 24.6 | 23.1 | |
| 23.7% | 25.0% | |
| 18.7 | 17.3 | |
| 2.13 | 1.97 |
Profit & loss
- Sales CAGR 3Y
- +23.3%
- Profit CAGR 3Y
- +73.2%
- EPS CAGR 3Y
- +73.2%
- ROE
- 38.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 239 | 300 | 273 | 448 | |
| – | +25.4% | minus 8.9% | +64.0% | |
| 225 | 256 | 201 | 343 | |
| 13.9 | 43.2 | 71.6 | 105 | |
| 5.8% | 14.4% | 26.2% | 23.4% | |
| −1.2 | 14.8 | 5.5 | 12.1 | |
| 7.2 | 8.2 | 2.8 | 2.3 | |
| 3 | 3.7 | 3.6 | 5 | |
| −0.4 | −14.8 | 4.8 | 1.6 | |
| 2 | 31.3 | 75.6 | 111 | |
| −689.8% | 35.4% | 23.9% | 24.6% | |
| 16.1 | 20.3 | 57.5 | 83.8 | |
| – | +25.7% | +184.0% | +45.7% | |
| 1.83 | 2.30 | 6.54 | 9.53 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 19.4 | 19.4 | 15.2 | 16.9 | |
| 82.8 | 101 | 159 | 243 | |
| 47.1 | 24.9 | 8.5 | 6.7 | |
| 155 | 136 | 134 | 202 | |
| 304 | 282 | 317 | 468 | |
| 62.1 | 57.5 | 59.5 | 81.8 | |
| 16.2 | 4.2 | 8.4 | 6.2 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 0.1 | 9 | 6.7 | 35.6 | |
| 226 | 211 | 242 | 345 | |
| 304 | 282 | 317 | 468 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 18.8 | 42.7 | 73 | 73.3 | |
| 3.1 | 8.8 | −53.1 | −38.8 | |
| −22 | −44.3 | −25.5 | −5.3 | |
| −0.1 | 7.2 | −5.7 | 29.1 | |
| −2.9 | −4.6 | −15.2 | −27 | |
| 15.9 | 38.1 | 57.7 | 46.3 | |
| −1.1 | −1.1 | −1.3 | – |
Shareholding pattern
- Promoters53.22%
- Public46.78%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 53.22% | 46.78% | 0.00 | |
| 15 Sep 2026 | 53.22% | 46.78% | – |
Major shareholders
Filings & events
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