Standard Engineering Technology Limited Delivers Strong Q3FY26 & 9MFY26 Performance

Standard Engineering Technology Limited (SETL) achieved a significant milestone in Q3 FY26, formalising its name change from Standard Glass Lining Technology to reflect its evolution into an integrated engineering platform. While glass lining remains a core growth vertical, the company has expanded its capabilities through the strategic acquisitions of Scigenics (India) Private Limited and a 51 per cent stake in C2C Engineering. These moves allow SETL to offer "concept-to-commissioning" solutions, integrating bioprocess systems, HVAC and automation fully in-house to handle complex, multidisciplinary projects.

The company’s financial performance for 9M FY26 demonstrates robust execution, with Total Income reaching Rs 562 crore, a 23.6 per cent year-on-year increase. EBITDA for the nine-month period stood at Rs 102 crore, up 11.9 per cent, while Profit After Tax (PAT) rose by 18.8 per cent to reach Rs 62 crore. These figures highlight improving operating leverage and the early benefits of the integrated model, even as approximately Rs 30–35 crore in exports were deferred to Q4 due to administrative updates related to the corporate name change.

Quarterly, Q3 FY26 saw Total Income jump 37.1 per cent to Rs 196 crore, supported by a PAT of Rs 20 crore, which represents 28.3 per cent growth compared to the previous year. The company’s glass-lining vertical continues to lead through innovation, specifically with shell-and-tube heat exchangers and the upcoming global launch of conductivity glass-lined reactors in April 2027. Currently, the Order Book for heat exchangers exceeds 200 units, signalling strong market acceptance for these high-safety alternatives to graphite and alloy products.

Looking ahead, SETL is positioned to capitalise on the Union Budget 2026, which includes a nearly 10 per cent increase in allocation for the Department of Health and Family Welfare. This fiscal support bolsters demand across the pharmaceutical and biotechnology sectors, where SETL’s turnkey capabilities are highly relevant. With exports currently contributing 15 per cent to the business and a diversified order book, the company enters FY27 focused on international expansion and maintaining a PAT margin that stood at 11.0 per cent for the first nine months of the year.

Mr. Nageswara Rao Kandula, Managing Director, said: “Q3 and 9M FY26 mark a defining phase for our Company. We have successfully transformed into an integrated engineering platform while continuing to scale our core glass-lining business at a strong pace. With leadership in glass-lined technologies, breakthrough innovations such as conductivity glass-lined reactors, strong traction in shell-and-tube heat exchangers and expanding turnkey engineering capabilities, Standard Engineering Technology Limited is well positioned for sustainable, long-term value creation. Our focus remains on execution excellence, technological leadership and consistent value creation for our shareholders.”

About the Company

Founded in September 2012, Standard Engineering Technology Limited—formerly Standard Glass Lining Technology Limited—is a prominent Indian manufacturer of specialised engineering equipment for the pharmaceutical and chemical sectors. Recognised as one of the top five players in its industry in revenue, the company delivers comprehensive, end-to-end solutions that span from initial design and manufacturing to final installation and commissioning. With a proven track record of over 11,000 units delivered and a diverse portfolio featuring more than 65 unique designs, the firm has transitioned into an integrated engineering platform capable of executing complex, large-scale industrial projects. The company has a market cap of Rs 2,360 crore and the stock is up by 16 per cent from its 52-week low of Rs 110.70 per share.

Disclaimer: The article is for informational purposes only and not investment advice.