Glass Wall Systems (India) Ltd
Incorporated in 2002, Glass Wall Systems (India) Limited is a façade solutions and fenestration provider with operations
across the world.[1]
- Market Cap ₹ 2,014 Cr.
- Current Price ₹ 229
- High / Low ₹ 318 / 185
- Stock P/E 28.3
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 37.3 %
- ROE 27.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.5%
Cons
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 241 | 282 | 245 | 430 | |
| 229 | 239 | 187 | 334 | |
| Operating Profit | 12 | 43 | 58 | 96 |
| OPM % | 5.0% | 15% | 24% | 22% |
| 2 | -10 | 7 | 14 | |
| Interest | 8 | 8 | 3 | 3 |
| Depreciation | 3 | 3 | 3 | 5 |
| Profit before tax | 2 | 21 | 59 | 102 |
| Tax % | -690% | 44% | 26% | 25% |
| 16 | 12 | 44 | 76 | |
| EPS in Rs | 1.66 | 1.23 | 5.77 | 8.97 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| TTM: | 76% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 66% |
| TTM: | 74% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 27% |
| Last Year: | 27% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 19 | 19 | 15 | 17 |
| Reserves | 83 | 95 | 138 | 368 |
| 47 | 19 | 8 | 7 | |
| 156 | 128 | 128 | 197 | |
| Total Liabilities | 305 | 260 | 290 | 588 |
| 60 | 48 | 50 | 75 | |
| CWIP | 0 | 0 | 8 | 1 |
| Investments | 0 | 0 | 0 | 155 |
| 245 | 212 | 232 | 358 | |
| Total Assets | 305 | 260 | 290 | 588 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 19 | 34 | 67 | 73 | |
| 3 | 11 | -55 | -36 | |
| -22 | -38 | -19 | -5 | |
| Net Cash Flow | -0 | 7 | -7 | 32 |
| Free Cash Flow | 16 | 31 | 58 | 51 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 122% | 76% | 121% | 97% |
Ratios
Standalone / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 111 | 80 | 71 | 86 |
| Inventory Days | 56 | 72 | 118 | 67 |
| Days Payable | 121 | 94 | 115 | 111 |
| Cash Conversion Cycle | 46 | 58 | 74 | 42 |
| Working Capital Days | -38 | 4 | 8 | 14 |
| ROCE % | 31% | 41% | 37% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Earnings Call with Investors/Analysts to discuss the financial results of the Company for the Quarter & Half Year ended September 30, 2026 on November 4, …
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Board Meeting Intimation for Unaudited Standalone And Consolidated Financial Results For The Quarter & Half Year Ended September 30, 2026
- Board meets November 3, 2026 to approve Q2 and half-year unaudited results; trading window remains closed.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
- Received two regular LOIs for façade work, to be executed over 24 months.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Transcript of Earnings Call with respect to Financial Results of the Company for the Quarter ended June 30, 2026
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Concalls
-
Oct 2026Transcript PPT REC
Business Overview:[1]
Glass Walls Systems (India) Limited is a
premium façade solutions and fenestration company operating across India, the USA,
and Australia. The company is among the
largest façade solution providers in India
and has built its business around designing, engineering, manufacturing, supplying, and,
in the domestic market, installing specialised building façade systems. As of March 31st, 2026, the company had completed over 158 projects.