Agarwal Toughened Glass India Ltd
Incorporated in October 2009, Agarwal Toughened Glass India Limited manufactures tempered glasses for various industries.[1]
- Market Cap ₹ 243 Cr.
- Current Price ₹ 137
- High / Low ₹ 174 / 81.0
- Stock P/E 11.3
- Book Value ₹ 60.2
- Dividend Yield 0.00 %
- ROCE 24.4 %
- ROE 27.4 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 33.2%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Working capital days have increased from 118 days to 251 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Glass - Industrial
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 22 | 33 | 40 | 38 | 55 | 79 | |
| 19 | 30 | 35 | 25 | 35 | 51 | |
| Operating Profit | 2 | 4 | 5 | 14 | 20 | 28 |
| OPM % | 11% | 11% | 12% | 36% | 36% | 35% |
| 1 | 1 | 1 | 2 | 3 | 5 | |
| Interest | 2 | 2 | 2 | 3 | 3 | 3 |
| Depreciation | 1 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 0 | 1 | 1 | 12 | 18 | 28 |
| Tax % | 149% | 25% | 28% | 26% | 18% | |
| -0 | 0 | 1 | 9 | 15 | 22 | |
| EPS in Rs | -0.38 | 1.05 | 2.04 | 7.23 | 8.58 | 12.17 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 18% |
| TTM: | 44% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 212% |
| TTM: | 77% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 33% |
| Last Year: | 27% |
Balance Sheet
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 12 | 18 | 18 |
| Reserves | 1 | 2 | 3 | 5 | 77 | 89 |
| 23 | 26 | 29 | 29 | 34 | 21 | |
| 6 | 3 | 4 | 6 | 4 | 7 | |
| Total Liabilities | 35 | 36 | 41 | 52 | 132 | 135 |
| 14 | 17 | 16 | 15 | 24 | 24 | |
| CWIP | 5 | 0 | 2 | 7 | 9 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 17 | 19 | 23 | 30 | 99 | 100 | |
| Total Assets | 35 | 36 | 41 | 52 | 132 | 135 |
Cash Flows
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 1 | -1 | 2 | 11 | 15 | |
| -6 | -1 | -2 | -5 | -14 | |
| 4 | 1 | 0 | -2 | 67 | |
| Net Cash Flow | -1 | -0 | 1 | 4 | 68 |
Ratios
Figures in Rs. Crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 102 | 82 | 82 | 102 | 120 |
| Inventory Days | 198 | 136 | 129 | 303 | 224 |
| Days Payable | 89 | 20 | 20 | 36 | 13 |
| Cash Conversion Cycle | 212 | 198 | 191 | 370 | 331 |
| Working Capital Days | 20 | 40 | 42 | 60 | 251 |
| ROCE % | 9% | 11% | 35% | 24% |
Documents
Announcements
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Updates
11 November 2025 - Certificate of IPO fund utilization for period 1 Apr–30 Sep 2025 submitted.
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Outcome of Board Meeting
11 November 2025 - Unaudited H1 (ended 30 Sep 2025): Revenue Rs4,926.15L, PAT Rs1,225.67L; IPO proceeds utilization certificate.
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Updates
6 November 2025 - Domestic orders for ~6,790 SQM DGU worth ~₹2.5 crore; execution by March 2026.
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Structural Digital Database
14 October 2025 - SDD compliance certificate for quarter ended Sept 30, 2025; one event captured; no noncompliance.
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Outcome of Board Meeting
13 October 2025 - Board on Oct 13, 2025 discussed fundraising options (preferential, warrants, QIP, rights); decision deferred.
Annual reports
Concalls
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Jun 2025Transcript PPT
Business Profile[1]
Agarwal Toughened Glass manufactures toughened glass for B2B and B2C markets. The company processes float glass into value-added toughened glass products, which cater to sectors like construction, automotive, and industrial applications.