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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
HLE Glascoat Limited is an India-based company specialized in the business of manufacturing chemical process equipment. The Company’s segments include Glass Lined Equipment, Filtration, Drying and Heat Transfer Equipment. The Glass Lined Equipment business is engaged in…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A weak, stagnant business, fairly priced.
HLE Glascoat is scored on the general / industrial framework. It keeps a slim 4.2% of every rupee of sales as net profit. Those profits are backed by real cash — operating cash flow runs 2.85× reported profit. Free cash flow is worth about 2.6% of its market value.
Over the last 3 years revenue compounded at 13%/yr and profit at -7%/yr. Book value itself has compounded 24%/yr — the hallmark of a genuine compounder. Return on equity is a weak 7.0%. In the latest quarter profit fell 90% versus the prior quarter.
At 58× earnings, the stock sits at the 55th percentile of its own 3.6-year range — the middle of where it has historically traded. Today's price already implies ~26%/yr earnings growth sustained for a decade — a demanding bar. The books come through clean — a forensic grade of A, and Altman puts distress risk in the safe zone.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 67.35 | — | — |
| P/B | 5.3 | 5.05 | worse |
| EV/EBITDA | 25.41 | 12.75 | worse |
| ROE | 7.01 | 10.19 | worse |
| ROCE | 9.63 | 12.02 | worse |
| ROA | 2.98 | 4.74 | worse |
| Quick Ratio | 0.6 | — | — |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Cummins India | 49.9 | 13.5 | 27.1% |
| Welspun Corp | 24.6 | 5.5 | 22.3% |
| Indo-mim | 109.9 | 21.2 | 23.4% |
Revenue has grown every year across all 4 financial years shown. 13% CAGR over 3 years — steady double-digit compounder. Growth is accelerating — latest year outpaced the prior year's rate.
Revenue is outpacing profit (13% vs -7%) — costs are rising faster than the top line.
Operating margin has compressed from 11% to 5% — costs or competition are eating into profitability. Interest or tax burden is shrinking — more of the operating profit is reaching the bottom line.
ROE at 9% — modest; the capital isn't working hard. Capital efficiency declining — ROE down 12pp.
EPS dropped in the latest year despite possible profit changes — dilution or a profit dip could be at play. Profit grew faster than EPS (-7% vs -11%) — share dilution is eroding per-share value. -11% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Cash conversion at 2.8× PAT — earnings are well-backed by cash; strong accrual quality. Heavy investing spend every year, but operations generate enough to cover it — the business self-funds its growth.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue fell 23% QoQ — could be seasonality or a genuine slowdown.
Profit fell 90% QoQ — one-quarter drops can be noise, but a pattern matters. Quarterly margins are compressing (4% → 1%) — more revenue isn't translating to proportionally more profit.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters hold 65.6% — heavily owner-operated with strong skin in the game.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.