---
title: "Agarwal Float Glass India Ltd (AGARWALFT) — Share Price, Financials & Analysis"
symbol: "AGARWALFT"
company: "Agarwal Float Glass India Ltd"
canonical: "https://tapetide.com/stocks/AGARWALFT"
isin: "INE0MLA01012"
nse_symbol: "AGARWALFT"
sector: "Industrial Products"
industry: "Glass - Industrial"
market_cap_cr: 19.34
generated_at: "2026-09-13T20:00:02.535Z"
---

# Agarwal Float Glass India Ltd (AGARWALFT)

Canonical page: https://tapetide.com/stocks/AGARWALFT

## Company

- **NSE Symbol:** AGARWALFT
- **ISIN:** INE0MLA01012
- **Sector:** Industrial Products
- **Industry:** Glass - Industrial
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2023-02-23
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** agarwafloat.com

## About

Incorporated in 1997, Agarwal 
Float Glass India Ltd does Trading 
of Glasses and other allied activities[1]

## Latest Price

- **Price:** ₹26.7
- **Change:** 0 (0%)
- **Open:** ₹26.7
- **Day High:** ₹26.7
- **Day Low:** ₹26.7
- **Previous Close:** ₹26.7
- **Volume:** 0
- **As Of:** 2026-09-11T10:01:44+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:17.525337Z.

- **Market Cap:** ₹19.34 Cr
- **Classification:** SME
- **P/E (reported):** 13.1
- **Book Value:** ₹27.59
- **Price to Book:** 0.97
- **Dividend Yield:** 0%
- **ROE:** 16.59%
- **ROCE:** 29.03%
- **Debt to Equity:** 0.82
- **Revenue (yearly):** ₹65.06 Cr
- **Net Income:** ₹1.49 Cr
- **EBITDA:** ₹3.73 Cr
- **52-Week High:** ₹68.85
- **52-Week Low:** ₹21.85
- **RSI (14):** 28.88

## Tapetide Score

- **Score:** 54 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 65.6 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 44.73 | 9% |
| growth | 21.73 | 9% |
| momentum | 30.25 | 12% |
| ownership | 50 | 24% |
| quality | 60.95 | 22% |
| valuation | 75.12 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.97 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 9.17% over last 3 years.
- Promoter holding has decreased over last 3 years: -12.2%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 300% | 132.46% | — |
| ebitda margin growth | 840% | -28.11% | 192.35% | 0.17% |
| net income growth | — | -51.94% | -17% | 43% |
| revenue growth | 69.82% | -9.76% | 11% | 16% |
| roce | — | 231.77% | 6.69% | 27.86% |
| roe | — | — | 11.4% | 51.65% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 23.56 | 24.62 | 42.17 | 36.74 | 32.48 | 39.58 | 38.21 | 26.85 |
| Expenses | 19.6 | 24 | 40.57 | 37.43 | 29.11 | 37.29 | 35.42 | 25.92 |
| Operating Profit | 3.96 | 0.62 | 1.6 | -0.69 | 3.37 | 2.29 | 2.79 | 0.93 |
| OPM % | 16.81 | 2.52 | 3.79 | -1.88 | 10.38 | 5.79 | 7.3 | 3.46 |
| Other Income | 0.04 | 0.09 | 0.05 | 0.6 | 0.05 | 0.04 | 0.01 | 0.01 |
| Interest | 0.54 | 0.61 | 0.49 | 0.74 | 0.68 | 0.78 | 0.74 | 0.73 |
| Depreciation | 0.03 | 0.03 | 0.05 | 0.06 | 0.06 | 0 | 0.05 | 0.05 |
| Profit before tax | 3.43 | 0.07 | 1.11 | -0.89 | 2.68 | 1.55 | 2.01 | 0.16 |
| Tax % | 28.86 | 28.57 | 22.52 | -23.6 | 24.25 | 32.9 | 27.86 | 81.25 |
| Net Profit | 2.44 | 0.05 | 0.88 | -0.68 | 2.03 | 1.04 | 1.45 | 0.02 |
| EPS in Rs | 12.07 | 0.07 | 1.21 | -0.94 | 2.8 | 1.44 | 2 | 0.03 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 32.09 | 31.63 | 42.1 | 48.19 | 78.91 | 72.06 | 65.06 |
| Expenses | 30.57 | 30.35 | 39.81 | 43.61 | 78 | 66.4 | 61.33 |
| Operating Profit | 1.52 | 1.28 | 2.29 | 4.58 | 0.91 | 5.66 | 3.73 |
| OPM % | 4.74 | 4.05 | 5.44 | 9.5 | 1.15 | 7.85 | 5.73 |
| Other Income | 0.04 | 0.25 | 0.07 | 0.13 | 0.65 | 0.09 | 0.01 |
| Interest | 1.13 | 1.12 | 0.94 | 1.15 | 1.23 | 1.46 | 1.47 |
| Depreciation | 0.14 | 0.06 | 0.06 | 0.07 | 0.11 | 0.06 | 0.1 |
| Profit before tax | 0.29 | 0.35 | 1.36 | 3.49 | 0.22 | 4.23 | 2.17 |
| Tax % | 68.97 | 28.57 | 33.09 | 28.65 | 18.18 | 27.42 | 31.8 |
| Net Profit | 0.09 | 0.25 | 0.91 | 2.49 | 0.19 | 3.07 | 1.47 |
| EPS in Rs | 0.45 | 1.24 | 4.5 | 3.44 | 0.26 | 4.24 | 2.03 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 2.02 | 2.02 | 2.02 | 7.24 | 7.24 | 7.24 | 7.24 |
| Reserves | -0.01 | 0.24 | 1.53 | 8 | 8.2 | 11.27 | 12.74 |
| Borrowings | 11.2 | 11.75 | 11.76 | 8.98 | 13.23 | 17.49 | 16.39 |
| Other Liabilities | 4.46 | 4.11 | 2.31 | 2.85 | 1.62 | 2.94 | 5.96 |
| Total Liabilities | 17.67 | 18.12 | 17.62 | 27.07 | 30.29 | 38.94 | 42.33 |
| Fixed Assets | 0.36 | 0.32 | 0.29 | 0.26 | 0.28 | 0.43 | 0.37 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 4.43 | 4.45 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 17.31 | 17.8 | 17.33 | 26.81 | 30.01 | 34.08 | 37.51 |
| Total Assets | 17.67 | 18.12 | 17.62 | 27.07 | 30.29 | 38.94 | 42.33 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -8.57 | 0.06 | 1.44 | -4.99 | -0.81 | 1.62 | 3.03 |
| Cash from Investing Activity | -0.5 | -0.02 | -0.03 | -0.02 | -0.11 | -4.53 | -0.05 |
| Cash from Financing Activity | 9.61 | -0.57 | -1.02 | 5.27 | 0.98 | 2.81 | -2.49 |
| Net Cash Flow | 0.54 | -0.53 | 0.39 | 0.26 | 0.06 | -0.1 | 0.48 |
| Free Cash Flow | -9.07 | 0.04 | 1.4 | -5.02 | -0.94 | -2.93 | 2.98 |
| CFO/OP | -566 | 14 | 82 | -94 | -75 | 31 | 93 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 105.33 | 113.09 | 76.55 | 85.82 | 56.66 | 31.4 | 43.03 |
| Inventory Days | 75.33 | 87.88 | 71.38 | 110.34 | 62.02 | 77.85 | 106.97 |
| Days Payable | 47.65 | 39.8 | 15.03 | 14.18 | 5.49 | 6.36 | 12.79 |
| Cash Conversion Cycle | 133.01 | 161.17 | 132.91 | 181.97 | 113.19 | 102.9 | 137.21 |
| Working Capital Days | 18.77 | 45.35 | 47.68 | 121.19 | 71.79 | 70.86 | 77.08 |
| ROCE % | — | 10.8 | 15.69 | 23.93 | 5.48 | 17.6 | 10.06 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 69.77% | 69.77% | 69.77% | 59% | 57.55% | 57.55% | 57.55% | 57.55% | 57.55% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 16.65% | 20.34% | 23.11% | 36.82% | 36.82% | 34.79% | 35.1% | 34.89% | 34.75% |
| Others | 0% | 13.58% | 9.9% | 7.12% | 4.18% | 5.63% | 7.66% | 7.35% | 7.56% | 7.7% |
| No. of Shareholders | 0 | 301 | 287 | 353 | 379 | 400 | 471 | 473 | 468 | 453 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 5 / 2 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 29.41 | Sell |
| EMA (10) | 29.73 | Sell |
| SMA (20) | 32.85 | Sell |
| EMA (20) | 31.83 | Sell |
| SMA (50) | 35.17 | Sell |
| EMA (50) | 33.7 | Sell |
| SMA (100) | 32.64 | Sell |
| EMA (100) | 35.53 | Sell |
| SMA (200) | 43.26 | Sell |
| EMA (200) | 41 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 28.88 | Buy |
| MACD (12,26,9) | -2.31 | Sell |
| Stochastic (14,3,3) | 4.02 | Buy |
| ADX (14) | 37.37 | Buy |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 1.44 | High Volatility |
| ROC (12) | -27.45 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 40.74 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jul - Regulation 74(5) compliance certificate submitted for quarter ended 30 June 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 Jul - Regulation 74(5) compliance certificate submitted for quarter ended 30 June 2026.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_09072026152000_Agarwal_Float_Reg_74_june_2026_signed.pdf) |
| 9 Feb - Newspaper Publication of the extract of Unaudited Financial Results for the quarter and nine months ended on December 31, 2025. | [Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Feb - Newspaper Publication of the extract of Unaudited Financial Results for the quarter and nine months ended on December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/385c7ee6-577d-47c5-b3b7-b2c454aaa374.pdf) |
| 9 Feb - Audio recording of earnings conference call for Q3 and nine months ended Dec 31, 2025 published Feb 9, 2026. | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome 9 Feb - Audio recording of earnings conference call for Q3 and nine months ended Dec 31, 2025 published Feb 9, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4c5f85d7-65c9-4ca4-846b-9c610a23d195.pdf) |
| 8 April 2026 - Company confirms it is not a Large Corporate for FY2026-27; initial disclosure under debt circular not applicable. | [Updates 8 April 2026 - Company confirms it is not a Large Corporate for FY2026-27; initial disclosure under debt circular not applicable.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_08042026171434_LC_Float_MARCH_2026.pdf) |
| 6 April 2026 - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 April 2026 - Submitted Regulation 74(5) compliance certificate for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_06042026153147_Float_Reg74_march26.pdf) |
| 5 January 2026 - SDD compliance certificate for quarter ended Dec 31, 2025; one event captured; no noncompliances. | [Structural Digital Database 5 January 2026 - SDD compliance certificate for quarter ended Dec 31, 2025; one event captured; no noncompliances.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_05012026162247_SDD_ComplianceCertificate_dec2025.pdf) |
| 5 January 2026 - Certificate under Reg.74(5) for quarter ended Dec 31, 2025 submitted by RTA KFin. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 5 January 2026 - Certificate under Reg.74(5) for quarter ended Dec 31, 2025 submitted by RTA KFin.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_05012026153915_Reg_74_float_signed.pdf) |
| 30 Jun - SDD certificate from 01.04.2026 to 30.06.2026 (As on date) | [Structural Digital Database 30 Jun - SDD certificate from 01.04.2026 to 30.06.2026 (As on date)](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_30062026144745_FLOAT_PCS_SDD_Compliance_Certificate_final.pdf) |
| 28 April 2026 - Agarwal Float Glass withdraws proposed ₹15 crore rights issue by April 28, 2026. | [Updates 28 April 2026 - Agarwal Float Glass withdraws proposed ₹15 crore rights issue by April 28, 2026.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_28042026172744_Float_Withdrawal_of_right_Issue.pdf) |
| 27 May - Board approved FY26 audited results; revenue ₹6,505.66 lakh, profit ₹147.12 lakh, unmodified audit opinion. | [Outcome of Board Meeting 27 May - Board approved FY26 audited results; revenue ₹6,505.66 lakh, profit ₹147.12 lakh, unmodified audit opinion.](https://nsearchives.nseindia.com/corporate/AGARWALFLOAT_27052026161142_signed_Float_Outcome__march26results.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31116_AGARWALFT_2025_2026_A_2707699_02092026170734.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28281_AGARWALFT_2024_2025_A_3471869_03092025162349.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25444_AGARWALFT_2023_2024_02092024181948.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23973_AGARWALFT_2022_2023_01122023112755_12012023120000.zip) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a8e45773-c417-4223-bad1-8f27bd5bfff4.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e512dfc0-1369-41cb-af36-4c56cd82a281.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b52706db-0184-453f-8bb4-6b5af79b1596.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/542337/73485542337.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/542337/69093542337.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/542337/5423370320.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2023 | [Concall - Sep 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/db4f75f7-f3d4-4630-a91e-e5a03a8ba18a.pdf) |
| Sep 2020 | [Concall - Sep 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3e61fb32-4724-480d-a5dc-c13e9adf0699.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e3f42f64-9f87-4a85-a2ac-e3d2000427dd.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f6993d5e-a083-4259-8dd9-290e8be4277a.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e61474d2-1d4d-4177-b884-7daead82907e.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5e583926-efb1-4972-9e26-69233e981adb.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cd3bd004-229e-4309-bfb3-37228eadaa40.pdf) |
| Nov 2021 | [Concall - Nov 2021](https://www.bseindia.com/xml-data/corpfiling/AttachHis/934dc534-d195-4d9b-af33-e37eacb1e718.pdf) |
| Nov 2020 | [Concall - Nov 2020](https://www.bseindia.com/xml-data/corpfiling/AttachHis/84fd0cd2-432f-446d-95f4-3926529164a9.pdf) |
| Nov 2019 | [Concall - Nov 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3b28aa2f-91e0-4f86-976d-e65f3eaba93c.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:00:02.535Z.