Glass Wall Systems (india) Limited · NSE:GLASSWALL
Glass Wall Systems (india) — Q2 & H1 FY27 Earnings Presentation
34 slides from Glass Wall Systems (india)'s earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter
Date: November 3, 2026 To, To, BSE Limited National Stock Exchange of India Limited Listing Department Listing Department Corporate Relationship Department Exchange Plaza, C-1, Block G, P. J. Towers, Dalal Street, Bandra Kurla Complex, Bandra (E), Fort, Mumbai - 400 001 Mumbai – 400051 BSE Scrip Cod
Slide 2: Glass Wall Systems (India) Limited Q2 & H1FY27 Investor Presentation
GLASS WALL SYSTEMS (INDIA) LIMITED Complete Solutions For Façade Works Q2 & H1FY27 INVESTOR PRESENTATION
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Glass Wall Systems (India) Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe f
Slide 4: Q2 & H1FY27 Financial Highlights
Q2 & H1FY27 Financial Highlights
Slide 5: Management Commentary
Management Commentary Commenting on the results, Mr. Eshan Hemrajani, Managing Director & Chief Executive Officer, Glass Wall Systems (India) Limited, said: “We are pleased to report that H1FY27 has been encouraging, reflecting our ability to sustain growth while strengthening profitability. Revenue
Slide 6: Q2 & H1FY27: Performance Snapshot
Q2 & H1FY27: Performance Snapshot Figures (Rs. in Cr) Q2FY27: REVENUE REVENUE ➢ Domestic Façade business grew by 7% on a y-o-y basis to Rs. 78 crores 3% 16% ➢ International Façade business de-grew by 16% on a y-o-y basis to Rs. 37 127 131 239 crores 206 ➢ Fenestration business grew by 69% on a y-o-y
Slide 7: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit and Loss (Rs. Crs) Q2FY27 Q2FY26 YoY% H1FY27 H1FY26 YoY% Revenue from Operations 131.5 127.3 3.3% 238.9 206.4 15.8% Cost of Goods Sold 46.8 65.2 93.6 100.3 Gross Profit 84.6 62.1 36.2% 145.3 106.1 36.9% Gross Profit Margin 64.4% 48.8% 1,556 60.8% 51.4% 939
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs) Sep-26 Mar-26 Equity & Liabilities (in Rs. Crs) Sep-26 Mar-26 Non - Current Assets 170.5 153.8 Total Equity 362.0 259.9 Property, plant and equipment 66.5 66.1 Equity share capital 17.6 16.9 Capital work-in-progress 9.4 4.3 Other equity 344.4 243.0 Inta
Slide 9: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs) Sep-26 Sep-25 Net Profit Before Tax 60.8 53.5 Adjustments for: Non -Cash Items / Other Investment or Financial Items 3.2 2.1 Operating profit before working capital changes 64.0 55.6 Changes in working capital 11.8 10.6 Cash generated from Opera
Slide 10: Company Overview
Ty, Company Overview
Slide 11: About - Glass Wall Systems (India) Ltd.: Click to Watch Video
About - Glass Wall Systems (India) Ltd.: Click to Watch Video 10
Slide 12: Premium façade solutions provider
Premium façade solutions provider Business Overview Unrivalled Capabilities Glass Wall Systems is a comprehensive façade and ultra-luxury fenestration solution provider catering to domestic and global markets Seasoned promoters with extensive domain Marquee Clientele knowledge Business Verticals Exp
Slide 13: Market leadership supported by a diversified business model
Market leadership supported by a diversified business model FY26 Revenue/ Segment Segment GWS Positioning Revenue Mix Adoption of innovative design and materials and a shift towards sustainable systems Buoyant construction and real estate environment ~Rs.223 Cr / ~49% 2nd largest provider of Domesti
Slide 14: Journey of Glass Wall Systems so far
Journey of Glass Wall Systems so far Phase 1: Phase 2: Phase 3: Phase 4: Early stage of demonstrating scalable Navigating headwinds with Targeted approach to reinvent the Scale up of the export business operations resilience business model ❖ Entered the US Market and ❖ Rs. 1,000 Cr+ order book as re
Slide 15: Marquee client base with track record of successful project execution
Marquee client base with track record of successful project execution Domestic International Diverse Portfolio of Sectors Bagmane Rio The Capital 26-32 Jackson Avenue Harper Court Commercial Residential PROCESS FLOW PROCESS FLOW Design → Engineering → Manufacturing → Supply → Installation Design → E
Slide 16: Product Details
Product Details Window Wall Curtain Wall – Stick System Curtain Wall – Semi Unitized System Cladding Systems Store Front Glazing Canopy 15
Slide 17: Manufacturing Capabilities
Manufacturing Capabilities Strategically located at Vile Bhagad, Maharashtra ~32,415 sq. mt Designated Export 4 Lines ~100km Manufacturing Area with Place Close Proximity to Nhava Dedicated production lines for large undeveloped capacity Custom cleared prior to being unitized systems, doors and Shev
Slide 18: Integrated Capabilities to Drive Growth & Profitability
Integrated Capabilities to Drive Growth & Profitability IN-HOUSE GLASS PROCESSING FACILITY ~ Rs. 80 Crs Capex Funded through IPO proceeds and internal accruals Backward integration to drive further growth by strengthening operational efficiency, reducing supplier dependence and enhancing margins & c
Slide 19: Delivering sustainable, high-performance solutions
Delivering sustainable, high-performance solutions GWS’ Commitment to sustainable growth GWS’ Low Embodied Carbon Products Partnerships Low-carbon aluminium Low-carbon silicone Green manufacturing Rising shift towards eco-friendly buildings Global Aluminium Dowsil Solar powered Supply of low-carbon
Slide 20: Competitive Advantages
Competitive Advantages End-to-End Integrated Capabilities Export-Led International Presence Quality & Sustainability Credentials ➢ In-house testing rig to AAMA, ➢ Design, engineering, ➢ Marquee projects across the ASTM, AS/NZS and EN manufacturing and USA and Australia standards 158+ installation un
Slide 21: Key Business Strategies
Key Business Strategies Five strategic pillars driving global growth and premium leadership Expand Global Reach Deepen presence in the USA and Australia, and enter Canada and Europe, to tap a US$11.9 Bn global façade market by FY2030 Strengthen Domestic Leadership Leverage our domestic manufacturing
Slide 22: Industry Overview
Ty, Industry Overview
Slide 23: Industry Overview
Industry Overview Domestic Façades Exports Market Fenestration 2nd largest façade solutions provider in India's largest façade exporter4 Prominent player in ultra-luxury India3 fenestration Market size (Rs. Bn)1 Market size ($ Mn)2 Market size (Rs. Bn) +12% 144 +6% +14% 6,845 54 91 5,083 32 FY26P FY
Slide 24: Seasoned Promoters
Seasoned Promoters Eshan Jawahar Hemrajani Jawahar Hariram Hemrajani Amit Hemrajani Managing Director & Chief Chairman & Whole time Director Director, Yes Systems Executive Officer ➢ Jawahar Hariram Hemrajani has ➢ Eshan Jawahar Hemrajani has approximately ➢ Amit Hemrajani is a graduate in Architect
Slide 25: Board of Directors
Board of Directors Jawahar Hemrajani Eshan Jawahar Hemrajani Amit Hemrajani Chairman & Whole time Director Managing Director & Chief Executive Officer Director, Yes Systems ➢ Jawahar Hariram Hemrajani has approximately 40 years of ➢ Eshan Jawahar Hemrajani has approximately 12 years of ➢ Amit Hemraj
Slide 26: Historical Financials
Ty, Historical Financials
Slide 27: Historical Financials
Historical Financials Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) 18% 26% 23% 7% 21% 18% 457 105 84 304 73 58 278 55 36 FY24 FY25 FY26 FY24 FY25 FY26 FY24* FY25 FY26 Cash Flow from Operations (Rs. Cr) ROCE (%)1 ROE (%)2 73 73 66% 39% 39% 55% 45% 43 18% FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26
Slide 28: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit and Loss (Rs. Crs) FY24 FY25 FY26 Revenue from Operations 304.3 278.3 457.0 Cost of Goods Sold 154.4 129.4 220.8 Gross Profit 150.0 148.9 236.2 Gross Profit Margin 49.3% 53.5% 51.7% Employee Cost 26.3 29.0 37.7 Other Expenses 68.9 46.9 93.2 EBITDA 54.7 73.0
Slide 29: Historical Balance Sheet
Historical Balance Sheet Assets (in Rs. Crs) Mar-24 Mar-25 Mar-26 Equity & Liabilities (in Rs. Crs) Mar-24 Mar-25 Mar-26 Non - Current Assets 105.5 93.1 152.8 Total Equity 120.9 174.1 259.9 Property, plant and equipment 39.7 41.4 66.1 Equity share capital 19.4 15.2 16.9 Capital work-in-progress 3.1
Slide 30: Cash Flow Statement
Cash Flow Statement Particulars (Rs. Crs) Mar-24 Mar-25 Mar-26 Net Profit Before Tax 31.3 75.6 111.1 Adjustments for: Non -Cash Items / Other Investment or Financial Items 33.3 -0.1 2.3 Operating profit before working capital changes 64.6 75.5 113.4 Changes in working capital -21.4 2.6 -17.7 Cash ge
Slide 31: Annexures
Annexures
Slide 32: Key Projects delivered in Domestic market
Key Projects delivered in Domestic market The Capital Kohinoor Square Bagmane Rio Lodha World One Altimus Oberoi - 360 West Wipro IT SEZ Reliance Twin Tower 31
Slide 33: Key Projects delivered in International market
Key Projects delivered in International market Jackson Avenue 1400 Wabash 2300 Market Place 3201 Cuthbert Spark Harper Court 32
Slide 34: Thank you
Thank you Company Investor Relations Advisor CIN: U74140MH2010PTC204285 CIN: L74999MH2010PLC207187 Ms. Ami Parekh / Mr. Umang Shah / Mr. Aadesh Pardeshi Mr. Sanjay Sawant [email protected] / [email protected] / [email protected] Email: [email protected] T: +91 91 80824 66052 /
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