HLE Glascoat, engaged in the specialized business of manufacturing chemical process equipment, filtration, drying, heat transfer and glass lined equipment, is currently the top gainer on the BSE today on the back of its Q2FY25 performance.

Financial Performance

• The consolidated Revenue for the Q2FY25 rose 5% (YoY) at Rs.236 crore.

• EBITDA was at Rs.36 crore, up 19%, with an EBITDA margin of 15.1%.

• PAT for the quarter reached Rs.14 crore, up 33%

• It has reduced its long-term and short-term debt obligations by Rs 35 crore.

The orderbook at end of Q2FY25 stood at Rs.602 crore and is optimistic about its future.

The company plans to acquire a 26% equity stake in Clean Max Anchorage P Ltd (CMAPL), enabling access to a captive open access model in Gujarat, which will boost renewable energy usage and reduce energy costs for the company.

The stock price has reacted positively. Opening 5.5% higher at Rs.383.90, the stock hit an intraday high at Rs.425.20, up 17%. Its 52-week high is at Rs.581.95.

This small cap stock was a part of Ashok Kacholia’s portfolio but he had exited the stock completely last quarter.