IIFL Capital Services Ltd.
Motilal Oswal Investment Advisors Ltd.
Company Profile
Founded in 2010, Glass Wall Systems (India) Limited is a prominent company specializing in modern exterior glass designs, custom doors, and premium windows. Backed by over two decades of industry expertise, the company delivers high-quality building solutions across India and key international markets, including the United States and Australia. With over 158 completed projects, it serves a diverse client base ranging from real estate developers and top contractors to hospitals and airport authorities.
The company operates across three main areas: domestic façade solutions, international façade products supply and fenestration solutions including luxury home windows and doors sold under its ORIA brand. Its portfolio features high-profile Indian landmarks such as Lodha World One and Kohinoor Square, alongside major international developments like 1400 South Wabash in the U.S. and Project Dove in Australia.
For the year/period ended (Rs. in Cr.)
| FY26 | FY25 | FY24 | |
|---|---|---|---|
| Total Revenue | 471.43 | 288.14 | 310.26 |
| Profit After Tax | 83.79 | 57.51 | 20.25 |
| EPS | 9.90 | 6.21 | 1.81 |
| EBITDA Margin (%) | 23.02 | 26.23 | 17.97 |
| PAT Margin (%) | 18.34 | 20.66 | 6.65 |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY26 |
Net Profits(Cr.) FY26 |
|---|---|---|---|---|---|---|
| Glass Wall Systems (India) Limited | 1600.42* | 182 | 5.89 | 19.1 | 471.43 | 83.79 |
| Innovator Façade Systems Limited | 211 | 112 | 1.20 | 15.5 | 228 | 14 |
*Market cap @upper band
The Company GLASS WALL SYSTEMS (INDIA) LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
At the upper band of IPO Rs. 182, the stock is valued at 19.1 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.