Saint-Gob. Sekur - Saint-Gob. Sekur

📊 BSE: 515043 🏢 Auto Components & Equipments 📅 Last Updated: 11/13/2025 15:25

💰 Financial Performance

Revenue Growth by Segment

The Company operates in a single segment, Automotive Glass, which reported revenue of INR 208.41 Cr (INR 20,841.38 Lakhs) for FY 2024-25, representing a 4% growth compared to INR 200.70 Cr (INR 20,069.97 Lakhs) in the previous year.

Geographic Revenue Split

Not specifically disclosed, though the company operates manufacturing facilities in Chakan, Pune, and serves the Indian automotive market including domestic and export 3-wheeler segments.

Profitability Margins

Profit After Tax (PAT) margin improved to 17.26% in FY 2024-25 from 15.56% in the previous year. PAT rose to INR 35.98 Cr (INR 3,598.22 Lakhs), a 15% YoY increase, driven by price increases that offset inflationary pressures.

EBITDA Margin

Not explicitly stated, but core profitability was supported by a 15% increase in PAT. Interest coverage ratio improved by 111% YoY, indicating significantly stronger operating earnings relative to interest obligations.

Capital Expenditure

Not disclosed in absolute INR Cr for the reporting period.

Credit Rating & Borrowing

Total borrowings were reduced following the termination of a bill discounting agreement. This led to a 243% increase in the debt service coverage ratio and a 111% increase in the interest coverage ratio for FY 2024-25.

⚙️ Operational Drivers

Raw Materials

Primary raw materials include raw glass and energy (power/fuel). Raw glass costs experienced high inflationary impact during the year, which was partly mitigated by price hikes.

Import Sources

Not specifically named, but the company mentions sourcing from different geographies to enhance supply chain resilience and noted impacts from Rupee depreciation against the US Dollar on imports.

Key Suppliers

Not disclosed.

Capacity Expansion

Not disclosed in units; however, the company is focusing on 'World Class Manufacturing' (WCM) journeys to improve efficiency.

Raw Material Costs

Raw material costs were impacted by high inflation and Rupee depreciation. The company manages these through price increases to customers and diversifying its supplier base across different geographies.

Manufacturing Efficiency

The company follows a 'World Class Manufacturing' program and won 15 awards for operational excellence during the year.

Logistics & Distribution

Not disclosed as a specific percentage, but the company noted that growth in e-commerce and logistics sectors is a key driver for its commercial vehicle glass products.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

Growth is targeted through the development of value-added products and innovative solutions to differentiate from competitors. The company aims to leverage government initiatives like the Automotive Mission Plan 2026, the scrappage policy, and PLI schemes to capture demand in the recovering commercial vehicle and growing 3-wheeler segments.

Products & Services

Processing of glass to manufacture windshields for the automobile industry, specifically for commercial vehicles and 3-wheelers.

Brand Portfolio

Saint-Gobain, Saint-Gobain Sekurit.

New Products/Services

Focus on value-added products and green solutions, including recycled packaging and higher recycling of cullets, though specific revenue contribution percentages for new launches were not provided.

Market Expansion

Targeting the 3-wheeler segment's shift toward electric vehicles and the recovery of the commercial vehicle market driven by urbanization and road infrastructure projects.

Market Share & Ranking

Not disclosed.

Strategic Alliances

Member of the transnational Saint-Gobain Group, providing access to global technical expertise and High-Performance Solutions.

🌍 External Factors

Industry Trends

The industry is seeing a shift toward electric vehicles (especially in 3-wheelers) and fleet modernization. The Automotive Mission Plan 2026 and production-linked incentive (PLI) schemes are expected to drive future growth.

Competitive Landscape

The company faces risks from substitute materials and technological changes in manufacturing processes that could influence market share.

Competitive Moat

Sustainable advantage is derived from being part of the global Saint-Gobain Group, providing superior technical expertise, a 'World Class Manufacturing' framework, and a strong reputation for fair and ethical governance.

Macro Economic Sensitivity

Highly sensitive to the automotive sector, road infrastructure development, and urbanization. A recovery in the final quarter of FY 2024-25 followed a period of volume decline in commercial vehicles due to election-related infrastructure delays.

Consumer Behavior

Increasing demand for public transport and last-mile delivery due to urbanization is shifting demand toward specific commercial vehicle glass solutions.

Geopolitical Risks

Global financial market volatility and Rupee depreciation against the Dollar are identified as key risks affecting financial performance.

⚖️ Regulatory & Governance

Industry Regulations

Operations are influenced by the Automotive Mission Plan 2026, government scrappage policies, and environmental compliance norms for manufacturing facilities.

Environmental Compliance

Focus on meeting stringent regulatory environmental norms through green energy adoption, recycled packaging, and cullet recycling to avoid liabilities and reputational damage.

Taxation Policy Impact

Not disclosed.

Legal Contingencies

The company notes the existence of Contingent Liabilities in its financial statement notes, though specific case values were not detailed in the provided text.