Which companies are HLE Glascoat's closest peers?

The cockpit's peer set: Desiccant Technology (5292.TW), Xian Typical Industries (600302.SS), Asahi Diamond Industrial (6140.T), Guangdong Jialong Food (002495.SZ), Zhejiang Taifu Pump (300992.SZ), Qingdao Guolin Technology (300786.SZ), SNTEnergy (100840.KS), Shandong Zhangqiu Blower (002598.SZ).

How has HLE Glascoat stock performed?

Over six months to 6 Nov 2026 the shares returned +15.6% against -28.8% for the median peer; over one year -27.6%.

← CockpitCompetitor Analysis › HLEGLAS.NS HLE Glascoat LtdOpen in the cockpit ↗

HLE Glascoat LtdHLEGLAS.NSCompetitor analysis, valuation and peers

India · INR·Capital Goods›Industrial Machinery

Momentum neutral 54

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$306M

US dollars, full cap

Free float

25%

of shares outstanding

$/day

$584,926

20-day average traded

Fwd P/E

n/m

no positive forecast

ROIC−WACC

-5.8 pp

WACC 16.1%

Hurdle

+14 pp

Req g minus delivered

Next earnings

91 days

5 Feb 2027

Close · INR₹414.70

1D-0.3%

1W+2.9%

1M-11.7%

3M-8.7%

6M+15.6%

YTD-5.6%

1Y-27.6%

ATR %5.6%

Beta1.24

52w lowhigh37.4% off high

What HLE Glascoat does

Employees: 2,098

HLE Glascoat at a glance

Size HLE Glascoat (HLEGLAS.NS) is an India Industrials company (Industrial Machinery) with a market value of $306M, the 1044th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹414.70 on 6 Nov 2026.

Performance Over six months the shares gained 15.6%, against -28.8% for the median peer and 0.0% for the India market (cap-weighted) — highest of 21 in its peer set.

Growth Revenue grew 26.3% over the last twelve months (peer median +10.0%); the operating margin is 6.2% (peer median 6.5%).

Valuation It trades at 2.1× enterprise value to sales against a peer median of 2.4× (9th cheapest of 21).

Price implies For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is +14 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.

Capital Return on invested capital runs 5.8 points below its cost of capital (16.1% WACC).

Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: HLE Glascoat against the median of its 20 peers (local-currency closes).

HLE Glascoat financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹13.7B	₹13.5B	₹10.3B	₹9.68B	₹9.32B
Revenue growth	—	+32%	+6%	+4%	—
Gross profit	₹2.72B	₹2.27B	₹1.97B	₹1.68B	₹1.87B
EBITDA	₹1.23B	₹1.45B	₹1.38B	₹1.22B	₹1.41B
Net income	₹358M	₹494M	₹549M	₹261M	₹688M
Free cash flow	n/a	₹754M	₹378M	₹191M	-₹616M
Capital expenditure	n/a	₹557M	₹664M	₹552M	₹485M
Total debt	n/a	₹3.48B	₹3.79B	₹3.90B	₹2.57B

Quarterly statements and history in the cockpit →

HLE Glascoat competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. HLE Glascoat is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. HLE Glascoat is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. HLE Glascoat is the large dot.

HLE Glascoat competitors and peer comparison

How HLE Glascoat compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

HLE Glascoat against its 20 peers (data as of 6 Nov 2026)
Measure	HLEGLAS.NS	Peer median	Rank in peer set
1-month return	-11.7%	-15.8%	9th highest of 21
6-month return	+15.6%	-28.8%	highest of 21
Distance from 52-week high	-37.4%	-44.8%	9th highest of 21
Revenue growth (TTM)	+26.3%	+10.0%	6th highest of 21
Operating margin	6.2%	6.5%	11th highest of 21
EV / Sales	2.1×	2.4×	9th cheapest of 21
Growth the price implies (Req g, 7 yrs)	37.3%	7.9%	most demanding of 10
Growth delivered (Del g)	+22.8%	+8.2%	highest of 10
Hurdle (Req g minus delivered)	+14.5 pp	+1.2 pp	3rd most demanding of 10
ROIC minus cost of capital	-5.8 pp	-2.0 pp	7th lowest of 20
EV / EBITDA	23.5×	14.0×	3rd most expensive of 11
Net debt / EBITDA	2.4×	-1.6×	5th most indebted of 14

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	EV / Sales	Req g	Delivered g
HLE Glascoat HLEGLAS.NS	India	$306M	+16%	+26%	6%	2.1×	37.3%	+22.8%
Desiccant Technology 5292.TW	Taiwan	$306M	+5%	+5%	18%	2.8×	-5.2%	+20.8%
Xian Typical Industries 600302.SS	China	$310M	-37%	-16%	-57%	6.5×	n/a	n/a
Asahi Diamond Industrial 6140.T	Japan	$302M	-24%	+5%	8%	0.9×	13.8%	+6.9%
Guangdong Jialong Food 002495.SZ	China	$302M	-21%	+10%	5%	6.0×	16.8%	+0.4%
Zhejiang Taifu Pump 300992.SZ	China	$311M	-29%	+21%	3%	2.5×	27.1%	+17.1%
Qingdao Guolin Technology 300786.SZ	China	$311M	-31%	+39%	-4%	3.0×	n/a	n/a
SNTEnergy 100840.KS	South Korea	$311M	-59%	+7%	20%	0.8×	n/a	n/a
Shandong Zhangqiu Blower 002598.SZ	China	$313M	-17%	-7%	5%	1.2×	3.8%	+11.4%
Fine Semitech 036810.KS	South Korea	$299M	-52%	+5%	2%	2.2×	n/a	n/a
Mikron MIKN.SW	Switzerland	$313M	-3%	-1%	9%	0.4×	-17.2%	+8.2%
Ningbo Water Meter 603700.SS	China	$314M	-19%	+20%	1%	1.2×	n/a	n/a
Symtek Automation Asia 6438.TW	Taiwan	$314M	-30%	+18%	9%	1.4×	n/a	n/a
Protec 053610.KS	South Korea	$316M	-42%	+47%	25%	1.2×	n/a	n/a
KOSES 089890.KS	South Korea	$294M	-47%	+13%	18%	4.8×	26.7%	+5.2%
Shenzhen Intelligent Precision Instrument 301512.SZ	China	$320M	-20%	0%	5%	3.1×	n/a	n/a
Shanghai CEO Technology 688335.SS	China	$321M	-55%	+29%	-8%	4.8×	n/a	n/a
Jiangsu Liance Electromechanical Technology 688113.SS	China	$321M	-23%	+10%	18%	3.6×	7.9%	+6.7%
Windsor Machines WINDMACHIN.NS	India	$322M	-7%	+36%	0%	4.6×	n/a	n/a
JPP 5284.TW	Taiwan	$323M	-47%	+50%	22%	2.4×	-0.6%	+21.0%
Qingdao Daneng Environmental Protection Equipment 688501.SS	China	$323M	-29%	-15%	9%	1.7×	n/a	n/a

Questions

Which companies are HLE Glascoat's closest peers?: The cockpit's peer set: Desiccant Technology (5292.TW), Xian Typical Industries (600302.SS), Asahi Diamond Industrial (6140.T), Guangdong Jialong Food (002495.SZ), Zhejiang Taifu Pump (300992.SZ), Qingdao Guolin Technology (300786.SZ), SNTEnergy (100840.KS), Shandong Zhangqiu Blower (002598.SZ).
Is HLE Glascoat expensive compared with its peers?: On ev / sales it trades at 2.1× against a peer median of 2.4×, 9th cheapest of 21 in its peer set. For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is +14 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
How has HLE Glascoat stock performed?: Over six months to 6 Nov 2026 the shares returned +15.6% against -28.8% for the median peer; over one year -27.6%.