Toughening capacity utilization (Silvasa)
60%
N/A
Overall toughening capacity utilization in Silvasa is above 60%.
SEJALGLASS
Other
10 Feb 2026
Sejal Glass Ltd — Q3 FY26
Sejal Glass reported 9M FY26 consolidated revenue of ₹284.51 Cr with EBITDA of ₹46.60 Cr (margin 16.38%).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Sejal Glass reported 9M FY26 consolidated revenue of ₹284.51 Cr with EBITDA of ₹46.60 Cr (margin 16.38%). The company is targeting ₹400 Cr+ full-year revenue with EBITDA margin improving to ~16.5% in Q4. Growth is driven by strong demand in real estate, infrastructure, and data centers, along with capacity expansion in UAE (new tempering line) and ramp-up of acquired units (Taloja, Erode). New high-value products (fire-rated, bulletproof, digital printing) are expected to contribute meaningfully from next fiscal. Management guided for minimum 25% revenue growth next year and EBITDA margin of ~18%. Key risk: slower-than-expected utilization ramp-up at acquired units, which currently operate at sub-20% capacity and drag margins.
Key Numbers
IG capacity utilization (UAE)
90%
N/A
UAE IG product line is operating at 90% utilization, driving strong performance.
Acquired units capacity utilization (Taloja & Erode)
10-16%
N/A
Newly acquired units are underutilized; potential to generate ₹150 Cr revenue at 15% margin.
Debt-to-equity ratio
<0.05
N/A
Post equity infusion of ₹77 Cr, debt-equity ratio improved to less than 0.05.
Management Guidance
Minimum 25% revenue growth next year
Management expects at least 25% consolidated revenue growth in FY27, even without new acquisitions.
Management guidance growthEBITDA margin target of 18%
Targeting consolidated EBITDA margin of around 18% next year, with potential half-percent improvement.
Management guidance marginsFull-year revenue of ₹400 Cr+
Expecting to close FY26 with consolidated revenue of ₹400 Cr or slightly higher.
Management guidance revenueNew tempering line in UAE to add 20-30 million USD business
A new tempering line in UAE will commence in Q1 FY27, adding capacity and incremental revenue of $20-30 million.
Management guidance expansionKey Risks
Slow ramp-up of acquired units
Taloja and Erode units are operating at 10-16% utilization; if ramp-up is slower than expected, it could delay margin improvement.
high · data_observationCompetition from unorganized players in railway segment
Management noted that unorganized players compete in the railway tender business, which could pressure pricing.
medium · analyst_questionDependence on sole supply agreement for raw glass
55% of raw material is glass sourced from Saint-Gobain under a sole supply agreement; any disruption could impact costs.
medium · management_commentaryNotable Quotes
We are targeting a bit of around 18%.
We are looking minimum 25% growth next year minimum.
The new product like fire rated and the bulletproof will definitely give a higher margin.
Frequently Asked Questions
What was Sejal Glass's revenue in Q3 FY26?
Sejal Glass reported revenue of ₹101 Cr in Q3 FY26, representing a — change compared to the same quarter last year.
What guidance did Sejal Glass management give for FY27?
Minimum 25% revenue growth next year: Management expects at least 25% consolidated revenue growth in FY27, even without new acquisitions. EBITDA margin target of 18%: Targeting consolidated EBITDA margin of around 18% next year, with potential half-percent improvement. Full-year revenue of ₹400 Cr+: Expecting to close FY26 with consolidated revenue of ₹400 Cr or slightly higher. New tempering line in UAE to add 20-30 million USD business: A new tempering line in UAE will commence in Q1 FY27, adding capacity and incremental revenue of $20-30 million.
What are the key risks for Sejal Glass in FY27?
Key risks include Slow ramp-up of acquired units — Taloja and Erode units are operating at 10-16% utilization; if ramp-up is slower than expected, it could delay margin improvement.; Competition from unorganized players in railway segment — Management noted that unorganized players compete in the railway tender business, which could pressure pricing.; Dependence on sole supply agreement for raw glass — 55% of raw material is glass sourced from Saint-Gobain under a sole supply agreement; any disruption could impact costs..
Did Sejal Glass meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Sejal Glass Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.