Agarwal Toughened Glass Lands Rs 2.55 Crore Double Glazed Unit Order From Relaxo Footwears
Agarwal Toughened Glass Lands Rs 2.55 Crore Double Glazed Unit Order From Relaxo Footwears
The firm-contract win adds to a busy quarter for the glass processor, though thin financial disclosures leave a few questions open
Agarwal Toughened Glass has secured a confirmed work order worth Rs 2.55 crore from Relaxo Footwears Limited, the footwear major, for the supply of Double Glazed Unit (DGU) value-added glass. The glass is meant for commercial projects, and delivery is scheduled to wrap up by March 2027.
The company has classified this as a Type A order, meaning it is a firm, executable contract rather than a pre-qualification or mobilisation-stage award.
A Second Win in the Same Quarter
The Relaxo order is not the only recent addition to the company’s books. Earlier in the July to September 2026 quarter, Agarwal Toughened Glass picked up a larger Rs 6.11 crore order from various domestic customers. Together, the two awards bring recently disclosed inflows to Rs 8.66 crore.
The size gap between them (Rs 6.11 crore versus Rs 2.55 crore) points to a business that wins contracts of varying scale rather than relying on a steady ticket size. Relaxo also appears as a new name in the company’s disclosed client history, which adds some diversification to the customer mix.
Growth Record Behind the Orders
On a standalone basis, the company’s annual revenue grew 44.0% in FY25 and then 71.6% in FY26, a sharp climb that suggests earlier order wins have been turning into real top-line growth. Whether the smaller recent orders will sustain that pace is something upcoming quarterly results will need to show.
What the Market Is Pricing In
As of 29 September 2026, the stock traded at a P/E of 14.1x against a ROCE of 24.82%. Share price performance has been strong over the medium term:
- 1 day: down 1.83%
- 5 days: up 2.59%
- 1 month: up 20.23%
- 6 months: up 72.18%
- 1 year: up 19.11%
- 5 years: up 27.05%
Points Worth Watching
- Promoter holding: The promoter stake slipped from 64.16% in Q4 FY26 to 60.39% in Q2 FY27, a drop of 3.77 percentage points, which is a notable change by any standard.
- Execution: With delivery due by March 2027, quarterly revenue recognition will show how quickly the Relaxo order converts into sales.
- Data gaps: Consolidated trailing twelve-month revenue and profit figures were unavailable in the source data, so book-to-bill ratio, backlog coverage, and working capital strength could not be assessed. Readers should check the company’s standalone audited numbers and upcoming filings for a clearer picture.
Based on company disclosures and market data published by financial news portals. This is a news report, not investment advice.
