HLE Glascoat shares fell to ₹379.60, the lowest price in the last 20% circuit limit, during Tuesday’s trading. The drop followed a sharp 81% year‑on‑year fall in net profit to ₹3 cr for the June quarter.
The company’s net profit slid from ₹16.41 cr in the same quarter last year and from ₹18 cr in the March quarter. Despite the profit hit, revenue from operations increased 6% to ₹301 cr, up from ₹284 cr a year earlier.
However, revenue fell 23.2% sequentially from ₹392 cr in the March quarter. Management blamed global uncertainty and geopolitical volatility for the slowdown, noting that the latter half of the quarter showed early signs of improvement.
MD Himanshu K. Patel said that delays in key orders, especially in the Heat Transfer segment, affected delivery acceptance. He added that demand is picking up again from end‑user industries and that several deferred projects are moving toward finalisation.
The order book was ₹662.1 cr as of 30 June 2026 and grew to ₹713.8 cr by 31 July 2026, giving the company visibility for future performance. HLE Glascoat continues to receive enquiries across all business segments.
HLE Glascoat manufactures specialised chemical process equipment. Its flagship products include Agitated Nutsche Filters and Dryers, which are key to the filtration and drying equipment segment.