HRS Aluglaze (BSE SME)

IPO Detail

Key Perfromance Indicators (KPI)

Company Financial (In ₹Crore)

Peer Comparison (Valuation)

Peer Comparison (Financial Performance)

About Company

Incorporated in 2012, HRS Aluglaze Ltd specializes in the design, manufacturing, and installation of premium aluminium systems, including windows, doors, curtain walls, cladding, and glazing solutions.

The Company delivers both standard and fully customized façade and fenestration solutions to builders, contractors, architects, and institutional clients, supported by material supply and procurement services.

Its manufacturing facility, located at Village Rajoda, Taluka BavStrong Execution Track Record & Long-Term Client Relationships: The Company has consistently delivered projects for developers, institutions, and contractors across India, backed by a skilled technical and project management team. Its focus on timely delivery, quality, and safety has resulted in strong repeat business from major real estate developers, government bodies, and institutional clients. This long-standing customer loyalty reinforces HRS Aluglaze’s market reputation and project pipeline.

In-House Design & Efficient Project Execution: HRS Aluglaze has an in-house estimation and design team of seven professionals, enabling innovation and sustainability-driven project planning. Its manufacturing facility, equipped with advanced CNC machinery and testing tools, ensures precision fabrication and strict quality control. With a 90-member execution team (on payroll and contract), the Company efficiently manages on-site installations across and outside Gujarat.

Focus on Quality, Innovation & Sustainability: The Company adheres to ISO 9001:2015 standards and holds MSME ZED Bronze Certification for sustainable manufacturing. Through backward and forward integration and the use of modern Italian fabrication equipment, HRS Aluglaze ensures high product accuracy, faster turnaround, cost efficiency, and consistent quality. Its processes reflect a strong commitment to innovation and environmentally responsible operations.

 la, Ahmedabad, Gujarat, spans 11,176 sq. meters and is equipped with CNC precision machinery and in-house powder-coating capabilities. The Company also plans to expand its operations with an additional 13,714 sq. meter facility adjoining the existing unit.

As of September 30, 2025, HRS Aluglaze Ltd is executing 28 active projects across various regions.

Product & Service Offerings:

• Doors & Windows
• Curtain Walls & Structural Glazing
• Glass Railings, Partitions, Louvers & Screens
• Cladding & Dynamic Façade Systems
• Material Supply & Procurement Support

Strength

Strong Execution Track Record & Long-Term Client Relationships: The Company has consistently delivered projects for developers, institutions, and contractors across India, backed by a skilled technical and project management team. Its focus on timely delivery, quality, and safety has resulted in strong repeat business from major real estate developers, government bodies, and institutional clients. This long-standing customer loyalty reinforces HRS Aluglaze’s market reputation and project pipeline.

In-House Design & Efficient Project Execution: HRS Aluglaze has an in-house estimation and design team of seven professionals, enabling innovation and sustainability-driven project planning. Its manufacturing facility, equipped with advanced CNC machinery and testing tools, ensures precision fabrication and strict quality control. With a 90-member execution team (on payroll and contract), the Company efficiently manages on-site installations across and outside Gujarat.

Focus on Quality, Innovation & Sustainability: The Company adheres to ISO 9001:2015 standards and holds MSME ZED Bronze Certification for sustainable manufacturing. Through backward and forward integration and the use of modern Italian fabrication equipment, HRS Aluglaze ensures high product accuracy, faster turnaround, cost efficiency, and consistent quality. Its processes reflect a strong commitment to innovation and environmentally responsible operations.

Weakness

Order Book Not Indicative of Future Performance: The order book may not accurately reflect future revenue since projects can be delayed, modified, or cancelled for reasons beyond the Company’s control. As of September 30, 2025, the order book stands at ₹10,307.07 lakhs, and any disruption in execution may adversely affect profitability, financial condition, and overall business performance.

Absence of Firm Customer Commitments: The Company does not operate under long-term contracts and relies mainly on blanket purchase orders. Customers may reduce or discontinue sourcing from the Company or delay payments, which could negatively impact revenue and cash flows. Although advance payments mitigate some risk, the lack of firm commitments remains a vulnerability.

Dependence on Third-Party Raw Material Supply: Business operations rely heavily on timely and cost-effective procurement of key raw materials such as aluminium, glass, and accessories. Price volatility—especially due to global geopolitical events—and the absence of long-term supplier contracts pose risks of supply disruption, increased costs, and pressure on margins. Any breakdown in supplier relationships may adversely affect operations and financial performance.