GLEN Industries Ltd (544444) — concall transcript | 31 March 2026

31 March 2026 · BSE 🟡 Notable Neutral

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

📢 Key Event

GLEN Industries announced INR130-135 crores capex to triple plastic container capacity and add 750 MT paper cup capacity, targeting INR500 crores annual revenue by FY27.

🔄 What Changed

EBITDA margin declined from 24% (FY25) to 19% (FY26) due to PLA price increases, though absolute margins remained stable; export revenue declined due to lower raw material prices rather than volume; inventory levels increased to 4-5.5 months to mitigate supply risks.

🔮 What's Next

Targeting 18-19% EBITDA margin for FY27-FY28; INR500+ crores revenue and INR90+ crores EBITDA by FY28; new capacity operational by September-December 2026; no new product categories planned until current projects stabilize.

💡 Investor Takeaway

The company is aggressively expanding sustainable packaging capacity to capture growth, but near-term margin pressure from raw material costs requires execution discipline to achieve long-term profitability targets.

GLEN Industries reported FY26 H2 revenue of INR108.60 crores, EBITDA of INR18.69 crores, and PAT of INR8.20 crores, with EBITDA margin pressure from PLA price adjustments despite passing costs to customers. Management plans INR130-135 crores capex to triple plastic container capacity and add 750 MT paper cup capacity, targeting INR500 crores annual revenue by FY27, with new capacity online by September-December 2026. Export demand remains strong across 40+ clients, and raw material sourcing is secured through August via diversified imports including recent shifts to China.

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About GLEN Industries Ltd (544444)

Capital Goods · Packaging · Listed on BSE

Market Cap: ₹301.87 Cr

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"How will PLA price volatility impact FY27 margin targets?""What is the timeline for new capacity to contribute revenue?""How does export customer concentration affect revenue stability?"

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📊 More 544444 filings

🔴 Announcement — 1 October 2026GLEN Industries announced an investor meeting on October 7, 2026 at 3:00 PM, conducted virtually, to...
Announcement — 28 September 2026GLEN Industries Ltd announced that its trading window will close on October 1, 2026, for designated ...
🔴 Corporate Action — 27 August 2026GLEN Industries announced on August 27, 2026 that promoter Lalit Agrawal (HUF) acquired 15,600 share...

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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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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