- Glass Wall Systems has an unexecuted order book of Rs 981 crore, ensuring revenue for two years
- The company’s IPO debuted with a 6.6% premium on NSE and 4.45% on BSE over the issue price
- Rs 60 crore allocated to a new glass-processing facility to improve supply chain control
Glass Wall Systems has an unexecuted order book of Rs 981 crore, providing revenue visibility for around two years, Eshan Jawahar Hemrajani, MD & CEO, Glass Wall Systems (India), said in an interview with NDTV Profit.
Hemrajani said projects typically have a turnaround time of 18 to 24 months, while the company's order-bidding pipeline is substantially larger than its current order book.
Glass Wall Systems share make a strong debut on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on Wednesday, Sept. 16 as the stock listed at 6.6% premium over the issue price. The stock listed at Rs 194 on the NSE, representing a 6.59% premium over the IPO price of Rs 182 per share. On the BSE, the scrip is listed at Rs 190.10, up 4.45% from the IPO issue price.
Rs 60 Crore Glass-Processing Facility
The company has allocated around Rs 60 crore from the fresh issue towards a glass-processing unit at Vile Bhagad to vertically integrate its supply chain and improve control over materials.
The facility has been designed for two lines, with one line being set up initially for captive consumption. Hemrajani said the capacity should meet the company's captive requirements for the next three to four years.
Plans To Explore Global Markets
Glass Wall Systems currently operates in the US and Australia and would like to explore other developed markets, including the EU, Israel and New Zealand.
Hemrajani said the company intends to maintain a similar balance between its domestic and international businesses, while its design, engineering and manufacturing capacities allow it to pursue opportunities across markets.
Commodity, Customer Risks
The company has pass-through clauses for aluminium and glass in almost all contracts, which Hemrajani said provides protection against commodity-price fluctuations.
On customer concentration, he said the company aims to add two or three new clients each year to diversify its customer base, while continuing to work with existing clients.
Focus On Vertical Integration
Hemrajani said the company is focused on creating differentiation and entry barriers through vertical integration and infrastructure.
He described the in-house glass-processing facility as first of its kind among facade fabricators in India and the performance mock-up rig as a first in the country. The company has also registered its products on the international EPD system as part of its ESG efforts.
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