Q1FY27 revenue up 35.8% YoY to Rs. 107 crore; EBITDA margin 21.3%; order book Rs. 982 crore

Glass Wall Systems has shared its press release on unaudited Q1FY27 (quarter ended June 30, 2026) results — its first set of results as a listed company.

Tue 6 Oct 2026

Revenue from operations

Rs. 107 crore, up 35.8% YoY

EBITDA

Rs. 23 crore; EBITDA margin 21.3% (26.6% a year earlier)

Order book

Rs. 982 crore as of July '26

Results for the quarter ended June 30, 2026 (Q1FY27), as shared by the company

Results at a glance

• Revenue from operations: Rs. 107 crore, up 35.8% year-on-year
• EBITDA: Rs. 23 crore, with an EBITDA margin of 21.3%
• Profit after tax: Rs. 17 crore
• EBITDA margin in the year-ago quarter (Q1FY26) was 26.6%

Why the margin moved

• A lower contribution from the international business, which typically carries higher margins, affected overall margin performance in the quarter.
• Employee costs increased because of manpower needed for expansion and operationalisation of new capacity, along with periodic salary revisions.
• Other expenses include freight cost, which is now borne by the company and billed to the export customer as per a revised commercial agreement, against ex-factory billing in the same period last year.
• Adjusted for this change in contract terms, EBITDA would be 22.5% in Q1FY27.

Profit after tax

• Profit after tax grew at a lower pace than EBITDA, led by lower other income compared with the year-ago quarter and higher depreciation on account of new capacity being commercialised.

Order book and outlook

• The order book stood at Rs. 982 crore as of July '26. The company says this gives strong visibility and that its priority is to convert it with the same discipline as its execution track record.
• For FY27, it expects revenue to grow significantly over FY26, with EBITDA margins in line with the previous year.
• It adds that as the business mix normalises and capacity expansion comes through, the impact of these factors should normalise by end of year.

Backward integration

• A key strategic priority is an in-house Glass Processing Unit ("GPU") at the company's Vile Bhagad facility. Once operational, the GPU is expected to reduce dependence on external processed-glass suppliers, give greater control over the supply chain and improve manufacturing economics.

About the business

• The company describes itself as a turnkey façade specialist covering design, engineering, manufacturing and installation for commercial, residential and institutional projects, with a presence across Indian cities and in the USA, Australia, Qatar, Ireland, Sri Lanka and Israel.

What to keep in mind

• The Managing Director notes that this is the company's first set of results presented as a listed company.
• The release carries a safe harbour statement: statements about future plans, objectives and target dates are based on estimates and are subject to risks, and actual results may differ materially.

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