HLE Glascoat Ltd Share Price

History of HLE Glascoat Ltd

HLE Glascoat Limited is one of the most renowned process equipment manufacturers for chemical and pharmaceutical sectors in India. It is a part of the prestigious Patel Group of Companies, established by Late Dr. Khushalbhai H. Patel in 1951. HLE Glascoat Limited was initially incorporated on August 26, 1991 as 'Shri Glassteel Equipments Limited'. The name of the Company was subsequently, changed to 'Swiss Glasscoat Equipment Limited' on March 03, 1992. Thereafter, Company consolidated both these businesses, through a Demerger Scheme vide its Order dated 24th October, 2019 and finally, name of the Company was changed to 'HLE Glascoat Limited'. The Company is engaged in manufacture and sale of Glass-Lined Equipment and Spares in India. The Company offer customers with a plethora of p ...roducts, catering to needs for storage, reaction, heat transfer, distillation and solid-liquid separation in the chemical, pharmaceutical and allied industries. It is currently operating in both domestic and international markets with the help of 3 integrated plants, namely Mairoli Works, Anand Works and HL Equipment. Its glasscoat product range consists of both ready-made and custom-built equipment, whereas, other products include Glass Lined Flush Bottom Outlet Valve, Bellows-Sealed Valve, Glass Lined Diaphragm Valve, Flanged Pipe, Flanged Elbows 90, Flanged Crosses, Reducing Flanges and Flanged T- Pieces with reduced connection. The journey began in 1981 with the incorporation of HLE Engineers Pvt. Ltd, focused on developing process equipment for chemical applications. In 1991, it manufactured its First Agitated Nutsche FilterDryer, beginning of specialization in Filtration & Drying. In 2003, it set up the Silvassa plant under the name of HL Equipments. After that, it inaugurated the 'Heerasons R&D Centre' at Maroli. In 2017, it expanded the product portfolio and acquired stake in a leading manufacturer of Glass-Lined Equipment, namely Swiss Glascoat Equipments Limited. The Board of Directors of the Company at its meeting held on 16th January, 2019, had approved the Scheme of Arrangement between Company, HLE Engineers Private Limited and Yashashvi Agrochemical Private Limited providing for Demerger of Operating Business of HLE Engineers Private Limited and vesting of the same into the Company; the Amalgamation of Yashashvi Agrochemical Private Limited with HLE Engineers Private Limited; integrally connected with effect from 1st April, 2018. As per said Demerger Scheme, which was approved by Hon'ble National Company Law Tribunal, Ahmedabad Bench vide its Order dated October 24th, 2019 the Company integrated both these businesses and renamed Company as 'HLE Glascoat Limited'. In 2020, it acquired additional ownership and profit share up to 99% in H L Equipments (HLEQ). In December 2021, the Company acquired the global business of leading glass-lining company, Thaletec GmbH, Germany. In 2022, the Company commissioned a Greenfield plant at Silvassa to augment the manufacturing capacity for their filtration and drying equipment. The Company acquired majority stake in Kinam Engineering Industries, one of the reputed manufacturers of multiple types of heat exchanger equipments in August, 2023. The Company launched SS Reactors, Pharmaskid & Chem-skid systems and Thaletec products in FY 2024. The Company completed the third phase of Kinam's integration, focussing on process optimisation, order visibility, and cross-leveraging marketing networks in FY25. Thaletec LLP (Previously known as Thaletec / H L Equipments) is an LLP, in which Company owns 99% ownership interest. The partners of the Firm have entered into an LLP Agreement and have converted the Partnership Firm into LLP, w.e.f. February 12, 2025.