Sejal Glass Profit Doubles as Revenue Jumps 33% in Q2
The architectural glass maker's quarterly profit nearly doubled sequentially, driven by strong order execution and improved capacity utilization.
Sejal Glass reported a 77.6% YoY surge in profit to ₹14.42 crore for Q2 FY27, with revenue growing 32.8%. Margins expanded sharply as the company executed a strong order book from the UAE and India.
For Sejal Glass, the story of the September quarter is one of execution. After a first quarter where revenue grew but profits were squeezed, the company delivered on its promise of a sharp rebound, nearly doubling its profit from the previous three months. The architectural glass maker rode a wave of strong demand in its key markets, turning a healthy order book into robust top-line growth and, crucially, much wider margins.
The numbers tell a clear story of acceleration. Consolidated revenue rose to ₹138.09 crore, up 32.8% from a year ago and 17.1% from the June quarter. Profit surged even faster, climbing 77.6% year-on-year to ₹14.42 crore and almost doubling sequentially. This pushed the net profit margin to 10.4%, a significant expansion from 6.1% last quarter and 7.8% a year earlier.
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin (%)
| Metric | CurrentQ2 FY27 | PreviousQ1 FY27 | Same quarter LYQ2 FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | 138.09YoY +33% | 117.95 | 103.99 |
| Profit (₹ Cr) | 14.42YoY +78% | 7.22 | 8.12 |
| Net Profit Margin (%) | 10.4YoY +33% | 6.1 | 7.8 |
From Order Book to Revenue
The primary driver was the execution of a strong order pipeline. According to management commentary from its Q1 earnings call, highlighted by Perivis, the company entered the quarter with a UAE order book of around AED 72 million and Indian orders exceeding ₹50 crore. The Q2 revenue jump suggests a significant portion of this work was delivered. The company's geographical split, reported by Tulsian AI, shows overseas sales (primarily the UAE) contributed ₹48.58 crore, slightly edging out domestic sales of ₹40.64 crore.
The Path to Wider Margins
The leap in profitability points to improved operating leverage. After flagging one-time costs and logistics disruptions in Q1, the company benefited from better fixed-cost absorption as capacity utilization rose. ScanX.trade reported that EBITDA margin expanded to 17.31% from 16.8% a year ago. This operational efficiency, combined with a product mix tilted toward higher-value insulated and laminated glass, allowed profit to grow more than twice as fast as revenue.
Capacity and Debt: The Growth Levers
The current growth runway is supported by ongoing capacity expansion, funded carefully to avoid straining the balance sheet. Management has guided, as noted by InvestorStack, that a third tempering line in the UAE is expected to start commercial production in Q3 FY27. This AED 15 million capex is being funded roughly half by internal accruals and half by a long-term bank loan. While the company's debt-to-equity ratio of 1.13 and interest cover of 2.49, per the payload, indicate a leveraged but manageable position, this disciplined funding approach is key for sustainable growth.
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· SEJALLTD
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ISIN: INE955I01044
Key Points
- Sejal Glass's Q2 FY27 profit nearly doubled sequentially to ₹14.42 crore, outpacing a 17% rise in revenue, as margins expanded sharply.
- Growth was driven by the execution of a strong order book from the UAE and India, improving capacity utilization and operating leverage.
- The company is expanding capacity with a new UAE production line, funded through a mix of internal accruals and debt, aiming to support future growth.
- While leveraged, with a debt-to-equity ratio of 1.13, the company's return on equity of 37.5% indicates efficient use of capital.
Hexa Perspective
The quarter demonstrates Sejal Glass's ability to convert strong demand into financial performance, a clear step up from the margin pressure seen in Q1. The focus now shifts to sustainability. The company's guidance, as previously stated, targets a minimum of 25% annual revenue growth and PAT margins of 9-10%. Hitting these targets depends on continued smooth execution of its order book and successful ramp-up of new capacity without cost overruns.
The main risk remains concentration in the UAE market, which contributes nearly half of revenue. While management has spoken of diversifying into Africa and Europe, progress there will be a critical factor in de-risking the growth story over the medium term. For now, the Q2 numbers show the model working as intended.
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