HLE Glascoat Limited — Updates, 11-11-2024: Press Release

HLE Glascoat Limited reported a strong Q2FY25 performance, achieving consolidated revenue of ₹23,577.9 lakhs, which marks a 5.1% year-on-year increase. The EBITDA for the quarter reached ₹3,548.8 lakhs, reflecting a robust 18.9% growth, with a margin improvement to 15.1%. Profit after tax (PAT) rose significantly by 33.3% year-on-year to ₹1,442.1 lakhs, achieving a PAT margin of 6.1%. The company has also reduced its long-term and short-term debt by approximately ₹35 crores, enhancing its financial stability.

Operationally, HLE Glascoat holds a solid order book valued at ₹60,247.1 lakhs, which supports a positive outlook. Plans for a strategic joint venture with Clean Max Anchorage Private Limited aim to enhance renewable energy usage, potentially lowering energy costs. Despite a subdued demand in the chemical sector, strong traction in the pharmaceutical segment and continuing inquiries across all segments suggest optimistic growth prospects moving forward.