HLE Glascoat Ltd Reported 2.9% Revenue Growth in FY 2024

On May 28 2024, HLE Glascoat Limited, a company specialising in producing chemical process equipment, filtration, drying, heat transfer, and glass-lined equipment, disclosed its audited financial outcomes for the quarter and fiscal year ending March 31, 2024.

In the fourth quarter of the fiscal year 2023-24, HLE Glascoat Limited reported revenue from operations amounting to ₹30,689.8 lakh, reflecting a modest increase of 2.9% compared to last year. The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹3,845.4 lakh with a margin of 12.5%. It indicates healthy operational performance. The company’s Profit After Tax (PAT) was ₹1,480.2 lakh, yielding a margin of 4.8%.

Financial Highlights 

Key Operational and Financial Highlights

As of March 2024, HLE Glascoat Limited showcased significant operational achievements. The company boasted a robust order book valued at ₹47,936.07 lakh. Additionally, the Board approved the Scheme of Amalgamation of Kinam Enterprise Private Limited with HLE Glascoat Limited. It will help enhance the company’s control over Kinam Engineering Industries Private Limited to a 70% stake.

In the fourth quarter of the fiscal year 2023-24, the consolidated revenue reached ₹30,689.8 lakh, marking a 2.9% year-on-year growth. EBITDA amounted to ₹3,845.4 lakh, accompanied by an EBITDA margin of 12.5%. The Profit After Tax totalled ₹1,480.2 lakh, with a PAT margin of 4.8% during Q4FY24.

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