HLE Glascoat share price, P/E, ROE & financials

On 6 Nov 2026, HLE Glascoat was priced at ₹414.70, or 75.1× trailing earnings, against an industry P/E of 33.8×, and the shares are 31% below their 52-week high. Its ROCE of 14% is the second-lowest among the 7 largest Specialty Industrial Machinery peers, and sales grew 13% a year over 3 years while net profit fell 11%. Its dividend yield is 0.3%, and debt is 0.58× equity. It is a small-cap company with a market cap of ₹2,880 Cr, ranked 44th of 138 Specialty Industrial Machinery companies by market cap; the shares fell 33% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹414.00
Day high: ₹433.55
Day low: ₹402.30
Prev. close: ₹415.85
Volume: 1.6 L

Health check

1 fair · 5 to check

ReturnsBehind
−33.3% over a year, better than 1 of 7 peers.
Price tagPricier
P/E 75.1 vs industry 33.8.
GrowthSlow
Sales +13.2%, profit −10.9% a year over 3 years.
ProfitabilityWeak
ROCE 13.5% vs peer median 24.8%.
Balance sheetFair
Debt 0.58× equity, interest covered 3.1×, Piotroski 6 of 9.
Red flags4 to check
Return on equity is low at 7.1%.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Specialty Industrial Machinery

137 listed peers. Screen the industry

Small cap

₹2,880 Cr, #44 of 138 in its industry by size.

Defensive

Beta 0.55 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹1,366 Cr · profit ₹38 Cr

Market cap: ₹2,880 Cr; Small cap
P/E: 75.1; Industry 33.8
Price to book: 5.30; Peers 9.16
Dividend yield: 0.27%
ROE: 7.1%; Peers 19.1%
ROCE: 13.5%; Peers 24.8%
Debt to equity: 0.58; Debt ₹361 Cr
EPS (TTM): ₹5.52; Face value ₹2
OPM (TTM): 8.9%; Net margin 2.8%
Sales growth: −1.2%; Latest quarter vs a year ago
Profit growth: +19.4%; Latest quarter vs a year ago
Price to sales: 2.11; EV/EBITDA 27.5

Strengths

Positive operating cash flow in each of the last 4 years.

Risks to check

Return on equity is low at 7.1%.
Quarterly sales down 1.2% on a year ago.
P/E of 75.1 against an industry P/E of 33.8.
31% below its 52-week high.

Derived automatically from reported figures. Not a recommendation.

About HLE Glascoat

HLE Glascoat Limited manufactures and sells carbon steel glass lined equipment in India and internationally. It operates through Filtration, Drying and Other Equipment; Glass Lined Equipment; and Heat Transfer Equipment segments. The Filtration, Drying and Other Equipment segment offers agitated nutsche filter-dryers, rotary vacuum paddle dryers, kilo-lab filter dryers, rapid disc dryer-coolers, orbicular dryers, and other chemical process equipment, as…

Headquarters: Anand
Employees: 728
Sector: Industrials
ISIN: INE461D01028
Website: hleglascoat.com

Price range

52 weeks

₹250.00₹605.00

Today

₹402.30₹433.55

Avg volume (3M): 3.2 L
1-year return: minus 33.3%
From 52-week high: minus 31.5%

Peers · Specialty Industrial Machinery

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
BHELBharat Heavy Electricals	418.80	plus 0.17%	1,45,829	50.6	74.6	6.6%	10.1%	0.22	13.5%	plus 56.4%
ABBABB India	6,774.00	plus 2.20%	1,43,547	92.3	68.2	28.5%	13.8%	0.02	15.4%	plus 26.4%
SIEMENSSiemens	3,560.00	plus 3.73%	1,26,779	86.1	59.3	16.5%	10.4%	0.02	3.0%	plus 10.0%
CUMMINSINDCummins India	4,048.80	minus 0.25%	1,12,233	49.8	41.7	35.0%	19.1%	0.00	16.1%	minus 6.0%
GVT&DGE Vernova T&D India	4,018.00	minus 3.06%	1,02,879	71.3	56.6	58.5%	26.5%	0.01	31.1%	plus 31.7%
SUZLONSuzlon Energy	38.80	plus 0.54%	53,337	23.7	17.3	24.8%	16.7%	0.07	41.4%	minus 35.7%
AIAENGAIA Engineering	3,113.60	minus 2.77%	29,056	23.5	19.6	19.9%	27.4%	0.00	−3.4%	minus 3.9%
HLEGLASHLE Glascoat	414.70	minus 0.28%	2,880	75.1	22.1	13.5%	9.0%	0.58	13.2%	minus 33.3%
Median of 7 peers	–	0.17%	1,12,233	50.6	56.6	24.8%	16.7%	0.02	15.4%	10.0%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
351	327	392	301	347
313	305	349	280	310
38.2	21.1	42.8	20.9	36.7
10.9%	6.5%	10.9%	7.0%	10.6%
1.9	3.5	1.1	1.7	2.3
9.3	7.9	8.7	8.4	8.4
8.6	9.9	9.6	9.9	9.9
−3.1	−3.2	−0.4	–	–
19.2	3.7	25.2	4.4	20.7
27.1%	−25.9%	20.2%	53.0%	22.6%
12	2.8	18.2	2.8	14.3
1.76	0.41	2.65	0.40	2.06

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +13.2%
Profit CAGR 3Y: −10.9%
EPS CAGR 3Y: −11.0%
ROE: 7.1%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
924	962	1,022	1,342
–	+4.1%	+6.3%	+31.2%
783	842	884	1,197
140	120	138	145
15.2%	12.4%	13.5%	10.8%
1.5	2.9	2.7	3.2
20.1	30.2	36.2	34.4
22.7	26.3	29.7	36.5
0.3	−7.4	−0.1	−6
99.3	58.7	75.1	70.9
29.7%	30.3%	17.7%	20.3%
69.8	29.7	54.9	49.4
–	minus 57.5%	+84.8%	minus 9.9%
10.22	5.99	8.00	7.20

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
14.4	14.3	13.9	13.9
312	413	464	520
250	388	379	348
318	387	436	500
894	1,202	1,293	1,382
317	367	400	435
3.7	21.9	5	5.9
0.6	2.8	23.9	1.5
2.7	33.3	39.6	34.4
571	777	825	905
894	1,202	1,293	1,382

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
4.9	94.7	134	161
−40.4	−45.5	−68.4	−85.9
13.3	−18.7	−59.7	−84.9
−22.2	30.6	6.3	−9.6
−48.5	−55.2	−66.4	−55.7
−43.6	39.6	68	106
−6.8	−7.5	−7.7	−7.5

Shareholding pattern

Source: NSE filings

65.6%

promoters

Promoters65.64%
Public34.36%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	65.64%	34.36%	0.00
30 Jun 2026	65.64%	34.36%	0.00
31 Mar 2026	65.64%	34.36%	0.00
31 Dec 2025	65.64%	34.36%	0.00
30 Sep 2025	65.64%	34.36%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you