Sejal Glass Ltd (SEJALLTD)

Construction Materials · Glass & Glass Products · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹682.55 ↑ 24.95% (1Y)

🎯 Key Takeaways

Sejal Glass Ltd is transitioning from a high-growth phase into a stable, cash-generating maturity with improving profitability and disciplined capital allocation. The company has demonstrated consistent operational performance and strong shareholder confidence, supported by governance compliance and promoter stability.
Revenue grew 3% QoQ to ₹118 in Q1FY27.
⚠️ 1) High leverage (D/E of 1.11) increases financial risk, especially if operating cash flows weaken. 2) Heavy reliance on promoter group (69.96%) may l

Market Cap

₹778

P/E Ratio

23.5

P/B Ratio

5.80

ROE

23.8%

ROCE

19.8%

Debt/Equity

1.11

Promoter

70.0%

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📖 The Story

Sejal Glass Ltd is transitioning from a high-growth phase into a stable, cash-generating maturity with improving profitability and disciplined capital allocation. The company has demonstrated consistent operational performance and strong shareholder confidence, supported by governance compliance and promoter stability. While not in distress, its growth trajectory has moderated, suggesting a shift toward cash return and incremental expansion rather than aggressive scaling.

📰 What's Happening

The company finalized unaudited Q1 FY2026 results (June 30, 2026), reporting consolidated revenue of ₹118 crore and net profit of ₹7 crore, reflecting sequential improvement in margins. The 28th Annual General Meeting on July 18, 2026, saw overwhelming shareholder approval of all seven resolutions, including financial statements and director reappointments, indicating strong governance endorsement. The board has also initiated shareholder communication by making the FY2025-26 Annual Report publicly accessible, reinforcing transparency. No new capital projects or strategic shifts were announced in recent filings, suggesting continuity in current operations and focus on operational efficiency.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	104	101	115	118
Operating Profit	13	10	14	12
OPM %	12.3%	10.3%	12.0%	10.1%
Net Profit	8	5	11	7
EPS	₹7.95	₹4.86	₹9.94	₹6.27

Revenue has grown steadily from ₹101 crore (Dec 2025) to ₹118 crore (Jun 2026), with operating margins stabilizing around 10-12% despite macro volatility. Net profit and EPS show a clear upward trend, rising from ₹5 crore (₹4.86 EPS) to ₹11 crore (₹9.94 EPS) over the past year, driven by margin expansion and volume growth. This improvement aligns with operational scaling and cost discipline, though absolute profitability remains modest. The trend reflects execution strength rather than cyclical recovery, supporting a stable earnings profile.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance in recent filings, but the consistent approval of financial results and reaffirmation of governance practices suggest confidence in near-term stability. The absence of new strategic announcements indicates a focus on sustaining current performance rather than pursuing transformative growth. Investors should monitor upcoming investor presentations or earnings calls for any clarification on growth expectations or capital allocation priorities.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	10	10	10	11
Reserves	23	28	45	123
Borrowings	171	183	227	149
Total Liabilities	257	285	389	470
Fixed Assets	116	113	174	193
Investments	3	3	5	32
Total Assets	257	285	389	470

The balance sheet shows a healthy but leveraged structure, with total assets growing from ₹285 crore (Mar 2025) to ₹470 crore (Mar 2026), driven by asset base expansion. Equity has remained relatively flat at ₹10-11 crore, while reserves have grown significantly, indicating retained earnings. Borrowings have increased from ₹183 crore to ₹227 crore, suggesting active capital deployment, likely for working capital or asset purchases. The rising D/E ratio (1.11) reflects higher leverage, but asset growth supports debt servicing capacity, indicating a growth-phase capital structure rather than financial stress.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+51
Investing	-120
Financing	+76
Net Cash Flow	+7

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	75.0%	70.0%	70.0%	70.0%
FII	0.2%	0.2%	0.2%	0.2%
DII	0.5%	0.4%	4.4%	4.5%
Public	15.2%	21.7%	14.9%	14.9%
# Shareholders	5,153	6,553	6,416	7,194

Promoter holding remains stable at 69.96% over the past year, signaling confidence and alignment with long-term interests. Institutional interest is emerging, with FII shareholding rising from 0.19% to 0.21% and DII from 0.41% to 4.54% over four quarters, suggesting growing institutional confidence. Public shareholding has declined slightly amid rising promoter proportion, but the increase in shareholder count (7,194) reflects broadening retail interest. No pledging or significant dilution has been reported, reinforcing governance stability.

⚖️ Peer Comparison — Glass & Glass Products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
ASAHIINDIA	24,244	55.4	13.0%	11.2%	0.52
BORORENEW	6,992	18.2	28.9%	29.3%	0.11
BOROLTD	2,904	41.4	11.5%	8.7%	0.10
LAOPALA	1,923	20.6	15.2%	11.3%	0.01
BOROSCI	1,128	26.1	12.9%	10.7%	0.03
SEKURITIND	1,061	23.9	23.9%	18.3%	0.00
SEJALLTD	778	23.5	19.8%	23.8%	1.11
HALDYNGL	742	25.0	14.6%	12.7%	0.48
BANARBEADS	78	41.9	5.7%	3.3%	0.36
530765	7	107.8	5.6%	3.3%	1.43

🔗 Peer Stock Analyses

ASAHIINDIA BORORENEW BOROLTD LAOPALA BOROSCI

⚠️ Risk Factors

1) High leverage (D/E of 1.11) increases financial risk, especially if operating cash flows weaken. 2) Heavy reliance on promoter group (69.96%) may limit market liquidity and introduce governance concentration risk. 3) Low institutional ownership (FII/DII combined under 5%) suggests limited analyst coverage and potential valuation inefficiencies. 4) Flat equity base amid asset growth raises concerns about capital efficiency and return on incremental investments.

📋 Recent Filings

🧠 Analyst's Read

Sejal Glass Ltd is emerging as a stable, cash-generative player in the glass packaging sector with improving margins and strong governance, but its growth has plateaued. Investors should watch for signs of reinvestment in capacity or new markets to reignite growth, as current returns are attractive but may reflect a mature phase. The key watchpoint is whether management articulates a clear strategy for capital deployment beyond maintenance.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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