Valuation Update With 7 Day Price Move • Jun 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹32.90, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 25x in the Trade Distributors industry in India. Total loss to shareholders of 8.9% over the past three years. New Risk • Jun 16
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.3% Last year net profit margin: 4.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Market cap is less than US$10m (₹206.8m market cap, or US$2.19m). Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Profit margins are more than 30% lower than last year (2.3% net profit margin). New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Market cap is less than US$10m (₹253.5m market cap, or US$2.67m). Minor Risk Latest financial reports are more than 6 months old (reported September 2025 fiscal period end). Annonce • May 21
Agarwal Float Glass India Limited to Report Second Half, 2026 Results on May 27, 2026 Agarwal Float Glass India Limited announced that they will report second half, 2026 results on May 27, 2026 New Risk • May 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Market cap is less than US$10m (₹260.8m market cap, or US$2.72m). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹28.00, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 20x in the Trade Distributors industry in India. Total loss to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹32.60, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 23x in the Trade Distributors industry in India. Total loss to shareholders of 44% over the past year. New Risk • Dec 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Market cap is less than US$10m (₹296.6m market cap, or US$3.30m). Minor Risk Share price has been volatile over the past 3 months (7.3% average weekly change). Annonce • Nov 12
Agarwal Float Glass India Limited to Report First Half, 2026 Results on Nov 13, 2025 Agarwal Float Glass India Limited announced that they will report first half, 2026 results on Nov 13, 2025 Board Change • Oct 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Non-Executive Independent Director Gokul Gupta was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 06
Full year 2025 earnings released: EPS: ₹4.24 (vs ₹0.27 in FY 2024) Full year 2025 results: EPS: ₹4.24 (up from ₹0.27 in FY 2024). Revenue: ₹721.5m (down 9.3% from FY 2024). Net income: ₹30.7m (up ₹28.8m from FY 2024). Profit margin: 4.3% (up from 0.2% in FY 2024). The increase in margin was driven by lower expenses. Annonce • Sep 03
Agarwal Float Glass India Limited, Annual General Meeting, Sep 26, 2025 Agarwal Float Glass India Limited, Annual General Meeting, Sep 26, 2025, at 15:30 Indian Standard Time. New Risk • Jul 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (9.3% operating cash flow to total debt). Market cap is less than US$10m (₹385.4m market cap, or US$4.47m). Minor Risk Share price has been volatile over the past 3 months (6.9% average weekly change). Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹55.85, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 33x in the Trade Distributors industry in India. Total loss to shareholders of 33% over the past year. Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹53.75, the stock trades at a trailing P/E ratio of 28.9x. Average trailing P/E is 33x in the Trade Distributors industry in India. Total returns to shareholders of 5.1% over the past year. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.3x net interest cover). Market cap is less than US$10m (₹347.7m market cap, or US$4.06m). Minor Risk Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Board Change • May 14
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Gokul Gupta was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹50.55, the stock trades at a trailing P/E ratio of 27.1x. Average trailing P/E is 27x in the Trade Distributors industry in India. Total loss to shareholders of 2.8% over the past year. Board Change • Mar 06
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Gokul Gupta was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹50.00, the stock trades at a trailing P/E ratio of 26.8x. Average trailing P/E is 38x in the Trade Distributors industry in India. Total loss to shareholders of 23% over the past year. Recent Insider Transactions • Sep 17
MD & Chairman recently sold ₹1.4m worth of stock On the 13th of September, Uma Shankar Agarwal sold around 15k shares on-market at roughly ₹94.62 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹9.7m. Uma Shankar has been a net seller over the last 12 months, reducing personal holdings by ₹51m. Annonce • Sep 12
Agarwal Float Glass India Limited, Annual General Meeting, Sep 25, 2024 Agarwal Float Glass India Limited, Annual General Meeting, Sep 25, 2024, at 15:00 Indian Standard Time. Recent Insider Transactions • Aug 24
MD & Chairman recently sold ₹1.5m worth of stock On the 21st of August, Uma Shankar Agarwal sold around 15k shares on-market at roughly ₹102 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹9.7m. Uma Shankar has been a net seller over the last 12 months, reducing personal holdings by ₹49m. Recent Insider Transactions • Aug 08
MD & Chairman recently sold ₹9.7m worth of stock On the 5th of August, Uma Shankar Agarwal sold around 102k shares on-market at roughly ₹94.71 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Uma Shankar has been a net seller over the last 12 months, reducing personal holdings by ₹48m. Recent Insider Transactions • Jun 14
MD & Chairman recently sold ₹2.1m worth of stock On the 10th of June, Uma Shankar Agarwal sold around 39k shares on-market at roughly ₹52.84 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Uma Shankar has been a net seller over the last 12 months, reducing personal holdings by ₹4.1m. Recent Insider Transactions • Jun 08
MD & Chairman recently sold ₹2.0m worth of stock On the 3rd of June, Uma Shankar Agarwal sold around 33k shares on-market at roughly ₹61.32 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Uma Shankar's only on-market trade for the last 12 months. New Risk • May 28
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (₹446.9m market cap, or US$5.37m). Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (8.8% average weekly change). Profit margins are more than 30% lower than last year (1.4% net profit margin). New Risk • Apr 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (₹460.0m market cap, or US$5.53m). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (1.4% net profit margin). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹42.00, the stock trades at a trailing P/E ratio of 32.7x. Average trailing P/E is 30x in the Trade Distributors industry in India. Total returns to shareholders of 35% over the past year. Annonce • Dec 02
Agarwal Float Glass India Limited, Annual General Meeting, Dec 22, 2023 Agarwal Float Glass India Limited, Annual General Meeting, Dec 22, 2023, at 15:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements (Standalone) of the Company for the Financial Year ended 31st March 2023, along with the Reports of the Board of Directors and the Auditors thereon; to re-appoint a director in place of Mrs.. Sharda Agarwal, who retires by rotation and, being eligible, offers himself for re-appointment; to appoint statutory auditor of the company for the financial year 2023-24 and fix their remuneration; and to consider other matters. Reported Earnings • Nov 15
First half 2024 earnings released: EPS: ₹1.21 (vs ₹3.27 loss in 1H 2023) First half 2024 results: EPS: ₹1.21 (up from ₹3.27 loss in 1H 2023). Revenue: ₹421.7m (up 71% from 1H 2023). Net income: ₹8.76m (up ₹10.6m from 1H 2023). Profit margin: 2.1% (up from net loss in 1H 2023). The move to profitability was driven by higher revenue. New Risk • Nov 14
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.4% Last year net profit margin: 3.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Share price has been highly volatile over the past 3 months (9.6% average weekly change). High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (₹430.6m market cap, or US$5.17m). Minor Risk Profit margins are more than 30% lower than last year (1.4% net profit margin). New Risk • Oct 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.1% average weekly change). High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (₹376.3m market cap, or US$4.52m). Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹51.95, the stock trades at a trailing P/E ratio of 15.1x. Average trailing P/E is 24x in the Trade Distributors industry in India. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹46.85, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 23x in the Trade Distributors industry in India. New Risk • Jun 13
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 40% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). High level of non-cash earnings (40% accrual ratio). Market cap is less than US$10m (₹287.6m market cap, or US$3.49m). Board Change • Apr 06
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Gokul Gupta was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹31.00, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 22x in the Trade Distributors industry in India. 
