GLASSWALLCommodities

Glass Wall Systems (India) Limited

Other Construction Materials · ISIN INE644Q01039 · BSE 544913 · NSE EQ · FV ₹2
Last price
₹245
+6.03%today
What this company does

Glass Wall Systems (India) Limited operates in Other Construction Materials, part of the Commodities sector. It booked ₹131 cr of revenue in its latest quarter (Q2 FY27) and kept 21.8% of sales as profit. It is the 2nd largest of 6 Other Construction Materials companies we track, by market value.

74out of 100
Equitytale Health Score
Solid

Healthier than 74% of companies in Commodities, on the 4 of 6 measures we could read for it. Each measure is ranked against the 142–176 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
52

At close. Not part of the score.

Profitability & returns92

How much profit it earns on the money it employs

Balance sheet78

How much it owes, and whether earnings cover the interest

Valuation22

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: cash quality, growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Strong 22% net margin
✓ Promoters hold 53%
✓ No promoter shares pledged
✓ Strong 32% return on equity
✓ Virtually debt-free
✓ Turns profit into real cash
Watch-outs
None flagged from our data

What if I invest in GLASSWALL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹245▲ +6.03%
latest close · 2026-11-04
52-wk low ₹18534 sessions so far52-wk high ₹318
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio18.3Average
LowAverageHigh
P/B ratio5.94High
Below bookModerateHigh
EV / EBITDA13.2Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity31.6%Strong
WeakFairStrong ▸15%
Return on capital41.7%Strong
WeakFairStrong
Net margin21.8%Strong
ThinDecentStrong
EBITDA margin30.4%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.00Comfortable
LowModerateHigh ▸1
Interest cover68.6×Strong
RiskyOkayStrong ▸5×
Current ratio1.79Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹2,151 cr
Book value
₹41
EPS
₹3.35
latest quarter
Net debt
₹-35 cr
more cash than debt
Enterprise value
₹2,116 cr
EBITDA
₹160 cr
annualised
EBIT
₹153 cr
annualised
Operating margin
29.1%
Return on assets
18.5%
Earnings yield
5.48%
P/S
4.09
Sales / share
₹59.8
Tax rate
24.2%
Face value
₹2
Shares
8.8 cr
Working capital
₹197 cr
Current assets
₹448 cr
Current liabilities
₹251 cr
Delivery %
24.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
We haven't parsed this company's annual profit history yet — common for banks and insurers, whose results file in a different format — so we can't value it off earnings.
Models span ₹114–₹114, midpoint ₹114

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹131 cr
Other Income₹2 cr
Total Income₹134 cr
Cost of Materials₹47 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹11 cr
Finance Costs₹55.8 L
Depreciation & Amortisation₹2 cr
Other Expenses₹36 cr
Total Expenses₹96 cr
Profit before Tax₹38 cr
Tax Expense₹9 cr
Net Profit₹29 cr
Net margin on total income21.4%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹47 cr35.0%
Employee benefit expense₹11 cr8.5%
Finance costs₹55.8 L0.4%
Depreciation & amortisation₹2 cr1.2%
Other expenses₹36 cr26.7%
Tax expense₹9 cr6.8%
Profit for the period₹29 cr21.4%
Total income ₹134 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ1 FY27Q2 FY27
Revenue107 cr131 cr
Total income110 cr134 cr
Expenses87 cr96 cr
Profit before tax23 cr38 cr
Tax6 cr9 cr
Net profit (owners' share)17 cr29 cr
Net margin (owners' share, on revenue)16.1%21.8%
EPS (₹)2.043.35
Balance sheet & cash flow · as of Sep 2026
Debt-free
Total assets
₹618 cr
Shareholder equity
₹362 cr
parent shareholders
Total debt
₹0 cr
Cash
₹35 cr
Cash flow · H1 FY27
Operating
₹58 cr
Investing
₹-105 cr
Financing
₹49 cr
Peer comparison
Other Construction Materials · by market value
CompanyPriceMarket capP/E
Ramco Industries Limited₹291₹2,517 cr7.3
Glass Wall Systems (India) Limitedthis company₹231₹1,953 cr28.3
Arisinfra Solutions Limited₹144₹1,174 cr17.5
BirlaNu Limited₹1,155₹874 cr—
Everest Industries Limited₹444₹704 cr84.8
Sahyadri Industries Limited₹324₹355 cr7.2
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-09-30
No pledge
Promoter
53.2%
FII / Foreign
1.9%
DII / Domestic
16.5%
Retail / others
28.4%
Smart-money activity
Bulk / block deals
SoldQE SECURITIES LLP · NSE5.00 L @ ₹265.588 Oct 26
BoughtQE SECURITIES LLP · NSE4.94 L @ ₹265.218 Oct 26
BoughtJUMP TRADING FINANCIAL INDIA PRIVATE LIMITED · NSE5.00 L @ ₹266.778 Oct 26
Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 8 named members
owning 53.2% between them · as of 2026-09-30
Jawahar Hariram Hemrajani31.82%
Eshan Jawahar Hemrajani10.00%
Amit Jawahar Hemrajani9.00%
Vinne Jawahar Hemrajani2.40%
Amit Hemrajani Family Trustno shares
Eshan Hemrajani Family Trustno shares
Jawahar Hemrajani Family Trustno shares
Vinne Hemrajani Family Trustno shares

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹60 cr raised in Sep 2026 by selling shares to the public

As of Sep 2026, the company says it has spent 15% of what it set aside.

Funding capital expenditure requirement for setting up of Glass Processing Unit (GPU) Project as part of planned backward integration of the Company at Vile Bhagad Facility
3%
of what was set aside
General Corporate Purposes
100%
of what was set aside
Offer related expenses
49%
of what was set aside

The rupee amounts in this company’s own breakdown don’t add up to the amount it says it raised — a common filing slip, where a table meant to be read in lakhs is entered as whole rupees. Rather than guess which is right, we show only the percentages, which are unaffected.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.