HLE Glasscoat Eyes Rs 1,500-Crore Top-Line By FY27 After Omeras Asset Purchase

Engineering firm HLE Glasscoat expects strong topline growth after the recent acquisition of Omeras’ assets for €2.75 million (approximately Rs 28 crore). In an interview with NDTV Profit, Harsh Patel, Whole-time Director, and Aalap Patel, Executive Director of HLE Glascoat, shared insights into the acquisition and the company’s financial outlook.

On being asked if the company would achieve a topline of roughly Rs 1,300 crore in FY26, Rs 1,500 crore in FY27 and a margin of 15%, Aalap Patel said, “Yes. Those kinds of numbers would definitely be a good target for us to have and not unrealistic.”

In an exchange filing dated Aug. 18, HLE Glascoat announced that its subsidiary HLE Surface Technologies “completed the acquisition of certain specific assets of Omeras GmbH, which also includes all shares of Omerastore GmbH.”

Omeras is a German company that specialises in enamelled metal products.

“For FY26, we feel Omeras will get us an additional Rs 100 crore worth of top line. We will have a very modest profit in the Omeras business for this financial year. But from next financial year onwards, which is about three or four quarters from now, we are aspiring to have a double-digit Ebitda there as well,” said Aalap Patel.

Beyond its core business, HLE Glasscoat is making strategic inroads into the defence and aerospace sectors. While details remain confidential, Harsh Patel confirmed the company has "made headway on some defence projects," particularly in the army vehicle segment. This follows their successful delivery of diving support vessels for the Indian Navy two years ago.

The acquisition also brings valuable cross-selling opportunities. Harsh Patel noted that while Omeras' architectural facade segment has no overlap, its storage solutions segment has scope for synergy. Omeras manufactures large glass-lined steel tanks, which cater to a different size range than HLE Glascoat’s current offerings. These tanks are in demand among Indian clients.

“Yes, cross-selling is possible from Omeras to our existing customers,” Harsh confirmed. Shares of HLE Glasscoat closed 4.9% lower at Rs 509 apiece, while the benchmark Nifty50 ended at 25,083.75, up 0.13%.