Sejal Glass Announces 26th Annual General Meeting
Sejal Glass in its annual report announced that it will hold the 26th Annual General Meeting on July 19th to take key decisions like the adoption of Financial Statements.
by Damodharan N
Updated Jun 29, 2024
Table of Content
Sejal Glass Limited has officially announced its 26th Annual General Meeting (AGM), set to take place on July 19, 2024, at 11:00 AM IST. Shareholders are invited to participate in the meeting at Sejal Encasa, Kandivali, Mumbai, to discuss and approve the company’s financial statements for the fiscal year 2023-24.
Key items on the agenda include:
- Adoption of Financial Statements: Approval of audited standalone and consolidated financial statements along with the respective reports of the Board of Directors and Auditors.
- Director's Reappointment: Mr. Surji Damji Chheda to retire by rotation and seek reappointment.
- Change in Director Designation: Approval for changing Mr. Vijay Vasanji Mamania’s designation from Non-Executive Independent Director to Non-Executive Non-Independent Director.
For more details, shareholders can access the full annual report and AGM notice on the
Here is the Notice
Sejal Glass Annual Report
This year Sejal Glass has shown remarkable progress and strong financial performance. The company's dedication to quality and innovation has led to significant growth in revenue and profits. See the key data points here.
Standalone Report (FY 2023-24):
- Total Sales: Increased by 28.21% to ₹5952.51 lakhs from ₹4642.70 lakhs in the previous year.
- Other Income: Rose to ₹147.18 lakhs compared to ₹17.61 lakhs in the previous financial year.
- Profit Before Tax: Achieved ₹50.70 lakhs, a significant improvement from a loss of ₹44.32 lakhs in the previous financial year.
- Net Profit After Tax: ₹50.70 lakhs, down from ₹858.68 lakhs in the previous year.
Consolidated Report (FY 2023-24):
- Revenue: Reached ₹16379.93 lakhs, a substantial increase from ₹4642.70 lakhs in the previous year.
- Other Income: Totaled ₹92.98 lakhs.
- Net Profit: Positive at ₹317.08 lakhs, compared to ₹63.67 lakhs in the previous financial year.
- Share of Profit from Associates: ₹16.23 lakhs, a turnaround from a loss of ₹88.99 lakhs in the previous year.
- Profit from Operations: ₹333.31 lakhs before and after exceptional items.
Operational Performance
Sejal Glass saw a strong operational performance with significant increases in sales and profits across both standalone and consolidated results. The company's revenue growth and turnaround in profitability highlight its robust financial health.
|
Particulars |
Standalone 31.03.2024 |
Standalone 31.03.2023 |
Consolidated 31.03.2024 |
Consolidated 31.03.2023 |
|
Gross Revenue from Operations |
₹5952.51 lakhs |
₹4642.70 lakhs |
₹16379.93 lakhs |
₹4642.70 lakhs |
|
Total Expenditure before Finance Cost, Depreciation/Amortization |
₹5395.98 lakhs |
₹4292.26 lakhs |
₹14341.94 lakhs |
₹4276.84 lakhs |
|
Operating Profit/(Loss) |
₹556.53 lakhs |
₹350.44 lakhs |
₹2037.99 lakhs |
₹365.86 lakhs |
|
Other Income |
₹147.18 lakhs |
₹17.61 lakhs |
₹92.98 lakhs |
₹17.61 lakhs |
|
Profit/(Loss) before Finance Cost, Depreciation, Exceptional Items, and Taxes |
₹703.71 lakhs |
₹368.05 lakhs |
₹2130.97 lakhs |
₹383.47 lakhs |
|
Less: Finance Costs |
₹555.71 lakhs |
₹230.50 lakhs |
₹1254.61 lakhs |
₹230.50 lakhs |
|
Profit/(Loss) before Depreciation, Exceptional Items, and Taxes |
₹148.00 lakhs |
₹137.55 lakhs |
₹876.36 lakhs |
₹152.97 lakhs |
|
Less: Depreciation/Amortization |
₹97.31 lakhs |
₹89.30 lakhs |
₹559.29 lakhs |
₹89.30 lakhs |
|
Profit/(Loss) before Exceptional Items and Tax |
₹50.70 lakhs |
₹48.25 lakhs |
₹317.06 lakhs |
₹63.67 lakhs |
|
Exceptional Items |
₹0.00 |
₹(92.57) lakhs |
₹0.00 |
₹(92.57) lakhs |
|
Profit/(Loss) before Taxes |
₹50.70 lakhs |
₹(44.32) lakhs |
₹317.06 lakhs |
₹(28.90) lakhs |
|
Share of Profits/(Loss) of Associates |
₹0.00 |
₹0.00 |
₹16.23 lakhs |
₹(88.99) lakhs |
|
Net Profit/(Loss) for the Period |
₹50.70 lakhs |
₹(44.32) lakhs |
₹333.31 lakhs |
₹(117.89) lakhs |
|
Deferred Tax Expense |
₹0.00 |
₹(903.00) lakhs |
₹0.00 |
₹(903.00) lakhs |
|
Other Comprehensive Income: Items not reclassified to Profit or Loss |
₹(8.23) lakhs |
₹0.00 |
₹(8.23) lakhs |
₹0.00 |
|
Foreign Currency Translation Reserves |
₹0.00 |
₹0.00 |
₹(54.07) lakhs |
₹0.00 |
|
Total Comprehensive Income for the Period |
₹42.47 lakhs |
₹858.68 lakhs |
₹271.02 lakhs |
₹785.11 lakhs |
Dividend Announcement
The Board of Directors did not recommend any dividend for the year under review.
Share Capital and Subsidiaries
As of March 31, 2024, Sejal Glass has one direct subsidiary and one associate LLP:
- Sejal UAE: Acquired 99.01% equity share capital.
- Sejal Glass Ventures LLP: The company holds 44.99% of the capital contribution.
Risk Management
Sejal Glass's risk management framework focuses on identifying, evaluating, and mitigating various financial risks including market, credit, and liquidity risks. The company employs financial derivatives to hedge against market risks and maintains policies to manage credit and liquidity risks effectively.
The Annual Report highlights the Key risks which might be detrimental to the company as the whole which are listed below
- Raw Material Risk
- Information Technology Risk
- Financial Risk
- Evolving Competition
- Global Crisis including War
- Government Policies
Global Flat Glass Industry Trends and Future Outlook
The global flat glass industry is poised for growth with key demand drivers from the construction, automobile sector, and small-scale tech appliances that use flat glass as part of green energy and design aesthetics. Key highlights from the report are given below.
- Global Growth: Projected to remain at 3.1% in 2024 and increase to 3.2% in 2025. Central bank rates and fiscal policies are key factors.
- Inflation: Expected to decline to 5.8% in 2024 and 4.4% in 2025 due to easing supply-side issues and restrictive monetary policies.
- Indian Economy: Predicted to grow at 7% in the next fiscal year, supported by strong performance and positive growth projections.
- Glass Industry Growth: Expected to exceed the overall economic growth rate, driven by strong demand in infrastructure and real estate sectors.
Sejal Glass
In 1991, Sejal Glass started with a small glass trading retail outlet. Envisioning the demand for glass in the Indian Market, we expanded to a processing unit in Charkop with Sejal Glass Craft Pvt Ltd. Glass was being increasingly used in construction. the company offers various glasses like Solid Glass, Kool Glass, Tone Glass, Fort Glass, Armor Glass, Decor Glass, and FireBan Glass, Lunaro.
Sejal Glass Announces 26th Annual General Meeting- FAQs
1. What was the gross revenue from operations for Sejal Glass in FY 2023-24 (Standalone)?
The gross revenue from operations for Sejal Glass in FY 2023-24 in standalone is ₹5952.51 lakhs
2. How did the gross revenue from operations change from FY 2022-23 to FY 2023-24 (Standalone)?
The gross revenue from operations change for 2023-24 is increased from ₹4642.70 lakhs to ₹5952.51 lakhs.
3. What was the consolidated gross revenue from operations for FY 2023-24?
The consolidated gross revenue from operations for FY 2023-24 is ₹16379.93 lakhs
4. How did the consolidated gross revenue from operations change from FY 2022-23 to FY 2023-24?
The consolidated gross revenue increased from ₹4642.70 lakhs to ₹16379.93 lakhs.
5. What was the total expenditure before finance cost and depreciation for FY 2023-24 (Standalone)?
The total expenditure before finance cost and depreciation is ₹5395.98 lakhs
6. How much was the total expenditure before finance cost and depreciation in FY 2022-23 (Standalone)?
The total expenditure before finance cost and depreciation is about ₹4292.26 lakhs
7. What was the consolidated total expenditure before finance cost and depreciation for FY 2023-24?
The consolidated total expenditure before finance cost and depreciation is ₹14341.94 lakhs
8. How did the consolidated total expenditure change from FY 2022-23 to FY 2023-24?
The consolidated total expenditure increased from ₹4276.84 lakhs to ₹14341.94 lakhs.
9. What was the operating profit for FY 2023-24 (Standalone)?
The operating profit for FY 2023-24 (Standalone) is ₹556.53 lakhs
10. What was the consolidated operating profit for FY 2023-24?
The consolidated operating profit for FY 2023-24 is ₹2037.99 lakhs
11. What was the other income for FY 2023-24 (Standalone)?
The other income for FY 2023-24 is ₹147.18 lakhs
12. What was the consolidated other income for FY 2023-24?
The consolidated other income for FY 2023-24 is ₹92.98 lakhs
13. What was the profit before finance cost, depreciation, exceptional items, and taxes for FY 2023-24 (Standalone)?
The profit before finance cost, depreciation, exceptional items, and taxes for FY 2023-24 is ₹703.71 lakhs
14. What was the consolidated profit before finance cost, depreciation, exceptional items, and taxes for FY 2023-24?
The consolidated profit before finance cost, depreciation, exceptional items, and taxes for FY 2023-24 is ₹2130.97 lakhs
15. What were the finance costs for FY 2023-24 (Standalone)?
The finance costs for FY 2023-24 is ₹555.71 lakhs
16. What were the consolidated finance costs for FY 2023-24?
The consolidated finance costs for FY 2023-24 is ₹1254.61 lakhs
17. What was the profit before depreciation, exceptional items, and taxes for FY 2023-24 (Standalone)?
The profit before depreciation, exceptional items, and taxes for FY 2023-24₹148.00 lakhs
18. What was the consolidated profit before depreciation, exceptional items, and taxes for FY 2023-24?
The consolidated profit before depreciation, exceptional items, and taxes for FY 2023-24 is ₹876.36 lakhs
19. What was the depreciation/amortization for FY 2023-24 (Standalone)?
The depreciation/amortization for FY 2023-24 is ₹97.31 lakhs.
20. Were there any exceptional items in FY 2023-24 (Standalone)?
No, there were no exceptional items.
21. What was the profit before taxes for FY 2023-24 (Standalone)?
The profits before taxes for FY 2023-24 is ₹50.70 lakhs
22. What was the other comprehensive income for FY 2023-24 (Standalone)?
The other comprehensive income for FY 2023-24 is ₹(8.23) lakhs (a negative value)
23. Is there any foreign currency translation reserve for FY 2023-24 (Consolidated)?
Yes, it was ₹(54.07) lakhs (a negative value)
24. What was the total comprehensive income for the period of FY 2023-24 (Standalone)?
The total comprehensive income for the period of FY 2023-24 is ₹42.47 lakhs
25. What was the consolidated total comprehensive income for the period for FY 2023-24?
The consolidated total comprehensive income for the period Fy 2023-24 is ₹271.02 lakhs
26. In the Fiscal year 2023-24 is there any dividend announced?
The Board of Directors did not declare any dividend for the fiscal year 2023-24
27. What is the name of Sejal Glass's direct subsidiary?
The name of Sejal Glass's direct subsidiary is Sejal UAE.
28. What percentage of equity share capital does Sejal Glass hold in Sejal UAE?
The percentage of equity share capital does Sejal Glass hold in Sejal UAE is 99.01%
29. Does Sejal Glass have any associates?
The Sejal Glass have one associates.
30. What is the name of the associate LLP of Sejal Glass?
The name of the associate LLP of Sejal Glass is Sejal Glass Ventures LLP.
31. What percentage of capital contribution does Sejal Glass have in Sejal Glass Ventures LLP?
The percentage of capital contribution does Sejal Glass have in Sejal Glass Ventures LLP is 44.99%.
32. What was the share of profit from associates for FY 2023-24?
The share of profit from associates for FY 2023-24 is ₹16.23 lakhs.