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Agarwal Toughened Glass India Ltd

AGARWALTUF·NSE
158.05-2.74%Wed, 23 Sept '26 15:31

Agarwal Toughened Glass India Ltd

AGARWALTUF
NSE
158.05
-2.74%
|Wed, 23 Sept '26 15:31
SOICxStockScans Reports
6M
Price
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Quick Ratios

Edit Ratios
Mkt Cap
Market Capitalization
305Cr
Close
Close Price
158.05
Industry
Industry
Glass - Others
PE
Price To Earnings
12.94
PS
Price To Sales
3.22
Revenue
Revenue
95Cr
Rev Gr TTM
Revenue Growth TTM
71.62%
PAT Gr TTM
PAT Growth TTM
42.37%

Quarterly Results

Standalone
Numbers
Percentage
QuarterSep 2024Mar 2025Sep 2025Mar 2026
Revenue
RevenueCr
22334649
Growth YoY
Revenue Growth YoY%
105.848.5
Expenses
ExpensesCr
15203135
Operating Profit
Operating ProfitCr
7131414
OPM
OPM%
31.339.831.527.7
Other Income
Other IncomeCr
1232
Interest Expense
Interest ExpenseCr
1110
Depreciation
DepreciationCr
1111
PBT
PBTCr
7141716
Tax
TaxCr
1344
PAT
PATCr
511129
Growth YoY
PAT Growth YoY%
170.0-12.1
NPM
NPM%
20.432.226.719.1
EPS
EPS
0.06.06.95.3
QuarterSep 2024Mar 2025Sep 2025Mar 2026
Revenue
RevenueCr
22334649
Growth YoY
Revenue Growth YoY%
105.848.5
Expenses
ExpensesCr
15203135
Operating Profit
Operating ProfitCr
7131414
OPM
OPM%
31.339.831.527.7
Other Income
Other IncomeCr
1232
Interest Expense
Interest ExpenseCr
1110
Depreciation
DepreciationCr
1111
PBT
PBTCr
7141716
Tax
TaxCr
1344
PAT
PATCr
511129
Growth YoY
PAT Growth YoY%
170.0-12.1
NPM
NPM%
20.432.226.719.1
EPS
EPS
0.06.06.95.3

Profit & Loss

Standalone
Numbers
Percentage
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
RevenueCr
223340385595
Growth
Revenue Growth%
54.819.6-4.144.371.6
Expenses
ExpensesCr
193035253567
Operating Profit
Operating ProfitCr
245142028
OPM
OPM%
11.210.811.935.836.429.6
Other Income
Other IncomeCr
111235
Interest Expense
Interest ExpenseCr
222331
Depreciation
DepreciationCr
122222
PBT
PBTCr
011121930
Tax
TaxCr
100338
PAT
PATCr
01191522
Growth
PAT Growth%
373.993.2785.976.642.4
NPM
NPM%
-0.81.52.422.427.422.8
EPS
EPS
-0.50.40.87.28.612.2
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue
RevenueCr
223340385595
Growth
Revenue Growth%
54.819.6-4.144.371.6
Expenses
ExpensesCr
193035253567
Operating Profit
Operating ProfitCr
245142028
OPM
OPM%
11.210.811.935.836.429.6
Other Income
Other IncomeCr
111235
Interest Expense
Interest ExpenseCr
222331
Depreciation
DepreciationCr
122222
PBT
PBTCr
011121930
Tax
TaxCr
100338
PAT
PATCr
01191522
Growth
PAT Growth%
373.993.2785.976.642.4
NPM
NPM%
-0.81.52.422.427.422.8
EPS
EPS
-0.50.40.87.28.612.2

Balance Sheet

Standalone
Numbers
Percentage
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
555121818
Reserves
ReservesCr
12357798
Current Liabilities
Current LiabilitiesCr
151516222624
Non Current Liabilities
Non Current LiabilitiesCr
15151713128
Total Liabilities
Total LiabilitiesCr
35364152132148
Current Assets
Current AssetsCr
1718213098111
Non Current Assets
Non Current AssetsCr
191820213437
Total Assets
Total AssetsCr
35364152132148
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
555121818
Reserves
ReservesCr
12357798
Current Liabilities
Current LiabilitiesCr
151516222624
Non Current Liabilities
Non Current LiabilitiesCr
15151713128
Total Liabilities
Total LiabilitiesCr
35364152132148
Current Assets
Current AssetsCr
1718213098111
Non Current Assets
Non Current AssetsCr
191820213437
Total Assets
Total AssetsCr
35364152132148

Cash Flow

Standalone
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
1-1211-18-9
Investing Cash Flow
Investing Cash FlowCr
-6-1-2-5-13-5
Financing Cash Flow
Financing Cash FlowCr
410-264-10
Net Cash Flow
Net Cash FlowCr
-101434-23
Free Cash Flow
Free Cash FlowCr
-5-106-32-14
CFO To PAT
CFO To PAT%
-328.6-111.7227.3131.5-119.5-39.4
CFO To EBITDA
CFO To EBITDA%
24.9-15.646.482.4-90.1-30.3
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
1-1211-18-9
Investing Cash Flow
Investing Cash FlowCr
-6-1-2-5-13-5
Financing Cash Flow
Financing Cash FlowCr
410-264-10
Net Cash Flow
Net Cash FlowCr
-101434-23
Free Cash Flow
Free Cash FlowCr
-5-106-32-14
CFO To PAT
CFO To PAT%
-328.6-111.7227.3131.5-119.5-39.4
CFO To EBITDA
CFO To EBITDA%
24.9-15.646.482.4-90.1-30.3

Ratios

Standalone
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
206151305
Price To Earnings
Price To Earnings
13.67.012.9
Price To Sales
Price To Sales
3.71.63.2
Price To Book
Price To Book
2.21.32.3
EV To EBITDA
EV To EBITDA
10.25.911.4
Profitability Ratios
Profitability Ratios
GPM
GPM%
23.421.222.245.644.437.537.5
OPM
OPM%
11.210.811.935.836.429.629.6
NPM
NPM%
-0.81.52.422.427.422.822.8
ROCE
ROCE%
7.88.710.131.416.521.921.9
ROE
ROE%
-3.37.512.752.316.118.618.6
ROA
ROA%
-0.51.42.416.611.514.614.6
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
206151305
Price To Earnings
Price To Earnings
13.67.012.9
Price To Sales
Price To Sales
3.71.63.2
Price To Book
Price To Book
2.21.32.3
EV To EBITDA
EV To EBITDA
10.25.911.4
Profitability Ratios
Profitability Ratios
GPM
GPM%
23.421.222.245.644.437.537.5
OPM
OPM%
11.210.811.935.836.429.629.6
NPM
NPM%
-0.81.52.422.427.422.822.8
ROCE
ROCE%
7.88.710.131.416.521.921.9
ROE
ROE%
-3.37.512.752.316.118.618.6
ROA
ROA%
-0.51.42.416.611.514.614.6
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Agarwal Toughened Glass India is a safety-glass specialist that takes ordinary float glass and transforms it into high-strength, application-specific products for India’s building and infrastructure sectors. Founded in 2009 and built on over 35 years of promoter expertise, the company has grown into what it calls the largest jumbo toughened glass facility in North India, serving more than 7,000 clients across over 4,000 projects from its Jaipur base. Its recurring approach is to win on specification, not just price - by earning the certifications and processor badges of global glass majors like Saint-Gobain and Asahi India Glass, so that architects and builders specify its glass by name for demanding jobs like airport terminals and hospital facades. # Business segments A single business - processing float glass into toughened, laminated, and insulated safety glass for India’s construction and infrastructure markets - with a solar-glass entry under development. ## 1. Processed safety glass: where specification wins the order **The company earns by turning commodity float glass into certified, application-specific safety glass that architects and builders are required to use - and it holds the processor badges of the world’s largest glass makers to stay on the specified list.** - **A processor, not a glass maker** - ATGIL buys float glass sheets from suppliers, then cuts, grinds, tempers, laminates, or seals them into finished safety-glass products; it does not manufacture the raw glass itself. - **Three product families, one factory logic** - toughened glass (about 4-5 times stronger than ordinary annealed glass) goes into facades, railings, and shower doors; laminated glass adds sound insulation and UV protection for skylights and railings; insulated glass units (double-glazed units) serve facades and partitions where noise and heat reduction matter. - **Certifications are the moat** - the company is certified by Saint-Gobain as an Assured ELITE Member and qualified to process its KT and SKN series, is certified by Asahi India Glass for its Ecosense Exceed Solar Control Low-E Series, and is a Sunguard Select Processor for Gujarat Guardian, meaning its processes meet the standards these global suppliers require before their branded glass can be fabricated and sold. - **Projects, not just products** - notable completed installations include Power Grid Corporation India, DLF MidTown, SMS Hospital, and Genpact, while new orders span an airport (Udaipur Airport, roughly 7,500 sqm of processed glass) and premium real estate (20,000 sqm of DGU glasses for Elite Window Factory), showing demand comes from infrastructure and institutional clients who specify by performance standard. - **Three plants with headroom** - the company runs three manufacturing units in Jaipur with combined installed capacity across toughened and insulated glass lines, the newest unit housing a jumbo tempering machine that added approximately 5 lakh sqm per annum of value-added capacity; utilization rates at the older units sit below 60%, so existing lines can absorb growth before new investment is needed. # Group structure and partners **The company stands alone - no subsidiaries or joint ventures - but its supply chain and brand credibility are reinforced by related-party trading entities and a trademark agreement with Saint-Gobain.** - **Family-linked suppliers keep glass flowing** - related-party transactions for raw material procurement and sales occur with Agarwal Fortune India Limited and Agarwal Float Glass India Limited, both wholesalers of industrial glass, giving ATGIL access to large volumes at reasonable prices; a further relationship with Hardik Glasses (a proprietorship of a promoter’s wife) supports day-to-day supply stability. - **Saint-Gobain partnership adds a global brand** - in January 2026, the company signed two two-year agreements with Saint-Gobain India: a project participation agreement providing technical support, marketing training, and process-improvement guidance, and a trademark license allowing ATGIL to sell glass products under the Saint-Gobain name within India, which can reduce wastage, improve cost efficiencies, and strengthen customer confidence. - **Promoter depth in glass and beyond** - Executive Director Mahesh Kumar Agarwal brings over 30 years of experience in leasing and investment plus 15 years in the glass industry and also serves as a director at Agarwal Float Glass India; Chairman and MD Anita Agarwal has over a decade in the glass industry, while Non-Executive Director Uma Shankar Agarwal chairs Agarwal Float Glass India, embedding the company in a network that understands both glass trading and processing.

Documents — Agarwal Toughened Glass India Ltd

  • Q4 FY2025 Earnings Call Transcript (Mar 2025, PDF): https://www.stockscans.in/document/tgwash470htt8dyhwtgwoln5.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/5drwto9fo6mjvnszhfq5wpt1.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/0gpxlmcn85bqkr9vu5yajbxz.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/iu9r7o5h0sq1d2f1ihtkb9wv.pdf
  • Q4 FY2025 Investor Presentation (Mar 2025, PDF): https://www.stockscans.in/document/o5kkkcgk2r8t2yxmou96l0vk.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/zccktjvb8gtg968m474l9xf0.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/gmnjds8ouin2yuoe9sm7hm4u.pdf

Concall Transcript Summaries — Agarwal Toughened Glass India Ltd

  • Q4 FY2025 Concall Transcript Summary (Mar 2025): https://www.stockscans.in/company/NSE%3AAGARWALTUF/transcript-notes/202503/tgwash470htt8dyhwtgwoln5.pdf