Glen Industries reports FY26 total income of US$24.6M as sustainable packaging demand drives growth

INDIA – Glen Industries has reported FY26 total income of ₹20,515.86 lakhs (US$24.6 million) and PAT of ₹1,650.27 lakhs (US$1.98 million), driven by robust demand for eco-friendly packaging products across domestic and export markets.

H2 FY26 contributed ₹10,859.51 lakhs (US$13.0 million) and PAT of ₹819.71 lakhs (US$982,000). EBITDA for FY26 stood at ₹3,850.39 lakhs (US$4.61 million), with earnings per share at ₹6.86. For H2 FY26, EBITDA was ₹1,868.66 lakhs (US$2.24 million) with EPS at ₹3.41. 

Glen Industries serves clients across food service, QSR, FMCG, and retail sectors, with a domestic presence across 26 states and a growing international footprint across 30 countries, including 40 recurring international clients.

Sustainable Packaging as a Growth Driver

The company’s diversified product portfolio includes thin-wall food containers, PLA (polylactic acid) straws, and paper straws. 

Thin-wall containers are injection-moulded plastic containers with wall thicknesses under 1mm, using less material per unit than standard containers. 

PLA straws are made from plant-based materials (corn starch or sugarcane) and are compostable in industrial facilities. 

Paper straws address regulations banning plastic straws, which have been adopted in multiple countries and Indian states. 

The company has expanded manufacturing capacity across these three product lines, responding to regulations that restrict single-use plastic straws while demand for takeaway food containers continues to grow.

Operational and Capacity Expansion

Glen has expanded its manufacturing capacity across thin-wall containers, PLA straws, and paper straws. 

The company operates an advanced integrated manufacturing facility with in-house production, printing, and packaging capabilities. 

Ongoing capacity expansion includes new product lines such as paper cups and thermoforming solutions. 

Chairman & Director Lalit Agrawal stated that the performance during H2 and FY26 reflects the strength of the product portfolio and the growing demand for sustainable packaging solutions across domestic and global markets, noting that increased demand for thin-wall containers and eco-friendly alternatives has supported growth despite geopolitical conflicts.

Financial Performance

Total income for FY26 was ₹20,515.86 lakhs (US$24.6 million). 

The H2 contribution of ₹10,859.51 lakhs (US$13.0 million) indicates that the second half of the fiscal year was slightly stronger than the first half, suggesting that demand did not weaken as the year progressed. 

EBITDA margin for FY26 was 18.8% (₹3,850.39 lakhs / ₹20,515.86 lakhs), which is healthy for a plastic and paper converter where raw material costs typically dominate expenses.

Agrawal noted that the company continues to focus on capacity expansion, product innovation, and operational efficiency to strengthen its market position, and as the industry shifts towards environmentally responsible packaging, Glen remains well positioned to capitalise on emerging opportunities.

Subscribe to our email newsletters that provide busy executives like you with the latest news insights and trends from Africa and the World. SUBSCRIBE HERE