Shares of HLE Glascoat declined more than 9% in early trade on February 11, 2026 (IST) after the company reported a mixed set of Q3 numbers, with strong revenue growth but sharp pressure on profitability.
As of 9:40 AM (IST), the stock was trading near its intraday low after opening at Rs 365.10 compared to the previous close of Rs 393.30. During the session, the stock touched a low of Rs 354.00 and a high of Rs 378.60. The 52-week range stands between Rs 217.83 and Rs 661.95.
For the December quarter, HLE Glascoat reported consolidated revenue of Rs 326.57 crore, up 41.35% year-on-year from Rs 231.03 crore in the corresponding quarter last year. The topline growth indicates improved execution and higher order inflows during the period.
However, operating performance weakened significantly. EBITDA declined 17.67% year-on-year to Rs 21.1 crore from Rs 25.63 crore. EBITDA margin contracted sharply by 463 basis points to 6.46%, compared with 11.09% in the year-ago quarter. The steep margin compression weighed on investor sentiment despite the strong revenue growth.
Net profit fell 66.66% year-on-year to Rs 2.83 crore, down from Rs 8.49 crore in Q3 last year. The sharp decline in profitability reflects operating leverage pressures and lower margins during the quarter.