Sejal Glass Maintains FY27 Revenue Growth Target Of 25-40% With 18% EBITDA Margin

Market snapshot: Sejal Glass Limited has reaffirmed its financial guidance for FY27, targeting top-line revenue growth between 25% and 40% alongside EBITDA margins of around 18% and PAT margins of about 10%. The architectural glass processor expects to reach a peak annual revenue benchmark of ₹600-650 crore by FY28.

Data Snapshot

• FY27 revenue growth target maintained at 25-40% YoY
• EBITDA margin target guided at around 18%
• PAT margin guidance set at approximately 10%
• Peak revenue projection targeted at ₹600-650 crore by FY28
• Consolidated Q2 FY27 revenue stood at ₹138.09 crore with EBITDA margin at 18.35%

What's Changed

• Consolidated Q2 FY27 revenue grew 32.8% YoY to ₹138.09 crore from ₹103.99 crore in Q2 FY26
• EBITDA margin expanded to 18.35% in Q2 FY27 compared to 17.03% in Q2 FY26
• Q2 FY27 net profit increased 77.6% YoY to ₹14.42 crore from ₹8.12 crore in Q2 FY26

Key Takeaways

• Sejal Glass maintains its FY27 revenue expansion path of 25-40% supported by high utilization across UAE glass processing facilities.
• Operating margin guidance remains intact at ~18% EBITDA and ~10% PAT, matching Q2 FY27 execution levels of 18.35% EBITDA margin.
• Longer-term targets point to ₹600-650 crore peak annual revenue by FY28 as domestic manufacturing units continue to scale.

SAHI Perspective

Sejal Glass's decision to maintain its 25-40% FY27 growth guidance demonstrates operational confidence in its core glass processing business. The recent Q2 FY27 results, featuring 32.8% YoY revenue growth and 18.35% EBITDA margins, show direct alignment with current annual profitability targets. Achieving the ₹600-650 crore peak revenue target by FY28 will require sustained market share gains in value-added safety and insulated architectural glass while maintaining margin discipline across Indian and Middle Eastern facilities.

Market Implications

The management update provides operational clarity for investors tracking specialty glass processors. Maintaining an 18% EBITDA margin target during top-line expansion indicates underlying pricing authority in processed glass products, helping offset working capital requirements across expanding operations.

Trading Signals

Market Bias: Bullish

Management's guidance of 25-40% FY27 top-line growth is supported by Q2 FY27 revenue expansion of 32.8% YoY to ₹138.09 crore and an EBITDA margin of 18.35%, matching full-year operational targets.

Overweight: Glass & Building Materials, Architectural Processing

Trigger Factors:

• Sustained quarterly revenue delivery within the 25-40% annual target band
• Retention of EBITDA margins near the 18% guided benchmark
• Progress on domestic plant capacity utilization levels

Time Horizon: Medium-term (3-12 months)

Industry Context

The Indian and regional architectural glass processing sector is driven by demand for high-performance tempered, laminated, and double-glazed insulated units used in real estate facades and infrastructure projects. Processors convert primary float glass into value-added engineered glass, where operating performance hinges on plant utilization, cut yield efficiency, and geographic distribution reach.

Key Risks to Watch

• Fluctuations in float glass raw material pricing and freight expenses
• Working capital pressures from expanding trade receivables during high revenue growth phases
• Dependency on commercial and residential real estate completion cycles

Recent Developments

Sejal Glass reported Q2 FY27 consolidated revenue of ₹138.09 crore, up 32.8% YoY from ₹103.99 crore, with net profit surging 77.6% YoY to ₹14.42 crore. The board approved the unaudited results for the quarter ended September 30, 2026, on October 13, 2026.

Closing Insight

Reaffirming solid FY27 growth targets alongside Q2 margin execution keeps Sejal Glass on track toward its ₹600-650 crore peak revenue goal by FY28.

High Performance Trading with SAHI.