La Opala RG Limited (LAOPALA)
₹156.47 +0.55% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, La Opala's revenue was ₹71.4 Cr (+9.8% year on year, +4.9% on the previous quarter), and net profit ₹26.2 Cr (+4.8% year on year); the operating margin was 36.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹71.4 | +9.8% | +4.9% |
| Operating profit | ₹25.9 | +8.0% | +3.7% |
| Net profit | ₹26.2 | +4.8% | +63.7% |
| EPS (₹) | 2.36 | +3.5% | +61.6% |
| Operating margin | 36.3% | — | — |
LAOPALA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 52.74% of the LAOPALA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.05%. That is close to its usual level. Turnover was only ₹92 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 64.5% · 7.4% · 50.2% · 47.9% · 52.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Promoter entity Genesis Exports Private Limited purchased 50,000 equity shares (0.05% stake) of La Opala RG Limited on the open market via NSE. The transaction, executed on September 17, 2026, was valued at ₹78,34,435. Following this transaction, Genesis Exports' shareholding stands at 5,25,00,000 shares, representing 47.30% of the company's equity capital. The transaction represents a marginal increase in promoter stake, accounting for less than 0.05% of the company's ₹1,803 Cr market cap.
- Promoter Genesis Exports purchased 50,000 equity shares via open market on NSE
- Total transaction value stood at ₹78,34,435
- The acquisition accounts for 0.05% of the total equity share capital
- Post-acquisition holding of Genesis Exports reached 5,25,00,000 shares (47.30%)
- Trade execution date was September 17, 2026, and disclosed on September 18, 2026
Promoter group entity Genesis Exports Private Limited acquired 50,000 equity shares (0.05% stake) of La Opala RG Limited via an open market transaction on September 17, 2026. Following this purchase, the total holding of the promoter and promoter group increased marginally from 66.46% (7,37,75,000 shares) to 66.51% (7,38,25,000 shares). The total equity share capital remains unchanged at 11,10,00,000 equity shares of Rs 2 each. Based on the prevailing share price of Rs 162.4, the transaction is valued at approximately Rs 0.81 crore, representing a minor increase in promoter ownership.
- Genesis Exports acquired 50,000 equity shares (0.05% of voting capital) via the open market on September 17, 2026
- Total promoter and PAC shareholding increased from 7,37,75,000 shares (66.46%) to 7,38,25,000 shares (66.51%)
- Genesis Exports' direct holding increased from 47.25% (5,24,50,000 shares) to 47.30% (5,25,00,000 shares)
- Total voting capital remains at 111,000,000 equity shares of face value Rs 2 each
Promoter entity Genesis Exports Private Limited acquired 2,00,000 equity shares (0.18% of total equity) of La Opala RG Limited through open market purchases on September 15 and 16, 2026. Following this transaction, Genesis Exports' direct holding increased from 47.07% to 47.25%. Total promoter and PAC holding rose marginally from 66.28% to 66.46%. At current market prices, the acquisition value represents approximately Rs 3.12 crore.
- 2,00,000 equity shares (0.18% voting capital) acquired via open market purchases
- Acquisition conducted across two trading sessions on 15.09.2026 and 16.09.2026
- Genesis Exports Private Limited holding increased from 5,22,50,000 shares (47.07%) to 5,24,50,000 shares (47.25%)
- Overall promoter group and PAC holding reached 7,37,75,000 shares (66.46%) up from 66.28%
- Total diluted share capital remains unchanged at 11,10,00,000 equity shares of Rs 2 each
Promoter entity Genesis Exports Private Limited acquired 2,00,000 equity shares (0.18% stake) of La Opala RG Limited via open market purchases on September 15 and 16, 2026. Following this transaction, Genesis Exports' holding rose from 47.07% to 47.25%, and total promoter and PAC shareholding increased from 66.28% to 66.46%. At current market prices (~Rs 156.2), the purchase is valued at approximately Rs 3.12 crore, representing an incremental vote of confidence amid a 36.9% 12-month share price decline.
- Promoter Genesis Exports acquired 2,00,000 equity shares via open market on 15.09.2026 and 16.09.2026
- Acquisition represents 0.18% of total equity share capital (11,10,00,000 shares of Rs 2 each)
- Genesis Exports' direct holding increased from 47.07% (5,22,50,000 shares) to 47.25% (5,24,50,000 shares)
- Total Promoter & PAC holding edged up from 66.28% (7,35,75,000 shares) to 66.46% (7,37,75,000 shares)
Crisil ESG Ratings & Analytics Ltd. has voluntarily assigned an Environmental, Social and Governance (ESG) rating of 'Crisil ESG 58' to La Opala RG Limited. The assignment was communicated via email dated August 31, 2026, evaluated purely on the basis of public disclosures for fiscal year 2026. The company confirmed that it did not formally engage CRISIL for this evaluation. The development is informational and does not affect the company's core operations or financials.
- Voluntary ESG rating of 'Crisil ESG 58' assigned by Crisil ESG Ratings & Analytics Ltd.
- Communication received by the company via email on August 31, 2026.
- Rating evaluated independently using FY 2026 disclosures and publicly available data.
- No commercial engagement or mandate initiated by the company for the rating.
La Opala RG Limited has released voting results and the Scrutinizer's Report for its 39th Annual General Meeting held on August 27, 2026. Shareholders approved all agenda items with the requisite majority, including the adoption of FY26 financial statements and a dividend of ₹5 per equity share (face value ₹2). Key appointments approved include Ms. Suparna Chakrabortti as Independent Director, Mr. Saradindu Dutta as Independent Director, and Mr. Abhyuday Jhunjhunwala as VP - Business Development.
- Declared a dividend of ₹5 per equity share of face value ₹2 for FY ended March 31, 2026
- Total voting participation reached 83.86% (93,080,960 votes polled out of 11,10,00,000 total equity shares)
- Approved re-appointment of Independent Director Ms. Suparna Chakrabortti for a second 5-year term starting January 27, 2027
- Approved appointment of Mr. Abhyuday Jhunjhunwala as VP - Business Development (place of profit), despite 46.96% institutional votes cast against the resolution
La Opala RG Limited concluded its 39th Annual General Meeting on August 27, 2026. Key items transacted included the adoption of FY26 annual accounts and the approval of a 250% dividend (₹5.00 per equity share of face value ₹2). Shareholder approval was also sought for director appointments, including independent director tenures and the appointment of Mr. Abhyuday Jhunjhunwala as VP - Business Development.
- Declared dividend of 250% amounting to ₹5.00 per share on a face value of ₹2
- Re-appointed Ms. Suparna Chakrabortti as Independent Director for a second 5-year term from Jan 2027 to Jan 2032
- Appointed Mr. Saradindu Dutta as Non-Executive Independent Director for 5 years ending July 7, 2031
- Transacted approval for Mr. Abhyuday Jhunjhunwala as VP – Business Development
La Opala RG reported a 9.34% YoY increase in revenue to ₹71.36 Cr for Q1 FY27. While EBITDA grew 7.45% to ₹25.93 Cr, gross margins faced pressure, declining from 72.08% to 69.10%. Net profit saw a modest 3.33% growth to ₹26.20 Cr, significantly supported by other income of ₹13.69 Cr, which accounted for approximately 41% of the Profit Before Tax. The company maintains a healthy operating ROCE of 5.73% for the quarter and a low-debt balance sheet.
- Revenue from operations grew 9.34% YoY to ₹71.36 Cr in Q1 FY27.
- Gross Profit Margin compressed by 298 basis points to 69.10% compared to 72.08% in Q1 FY26.
- EBITDA margin remained robust at 36.33%, though slightly down from 36.97% YoY.
- Total manufacturing capacity remains at 32,000 MTPA across three facilities in Uttarakhand and Jharkhand.
- Other income of ₹13.69 Cr contributed significantly to the total PBT of ₹33.37 Cr.
La Opala RG Limited reported a steady performance for Q1 FY27, with revenue from operations growing 9.3% YoY to ₹71.36 Cr. Net profit saw a modest increase of 3.3% YoY to ₹26.20 Cr, though it showed a sharp sequential recovery of 62% from the ₹16.17 Cr reported in the preceding quarter. The company maintained strong margins despite power and fuel costs accounting for 21.8% of revenue. Other income contributed significantly at ₹13.69 Cr, representing 16% of total income.
- Revenue from operations increased to ₹71.36 Cr in Q1 FY27 from ₹65.27 Cr in Q1 FY26.
- Net profit for the quarter stood at ₹26.20 Cr, compared to ₹25.35 Cr in the same period last year.
- Power and fuel expenses remained a major cost component at ₹15.56 Cr for the quarter.
- Earnings Per Share (EPS) improved to ₹2.36 from ₹2.28 on a YoY basis.
- Total income for the quarter reached ₹85.05 Cr, supported by ₹13.69 Cr in other income.
La Opala RG Limited has scheduled its 39th Annual General Meeting (AGM) for August 27, 2026, at 2:00 PM IST via Video Conferencing. The company has dispatched letters to shareholders whose email addresses are not registered, providing digital access to the Annual Report for FY 2025-26. This follows the cut-off date of July 31, 2026, for identifying such shareholders. This is a standard regulatory compliance filing to ensure all shareholders have access to the year's financial performance and meeting details.
- 39th Annual General Meeting (AGM) scheduled for August 27, 2026
- Cut-off date for identifying shareholders without registered emails was July 31, 2026
- Annual Report released for the full Financial Year 2025-26
- Meeting to be conducted via Video Conferencing/Other Audio Visual Means at 2:00 P.M. IST
La Opala RG Limited has scheduled its 39th Annual General Meeting for August 27, 2026, and released its FY25-26 Annual Report. The company reported a 6.87% decline in annual revenue to ₹309.06 Cr, with Profit After Tax (PAT) at ₹92.30 Cr. Despite the revenue contraction, the company maintained a robust EBITDA margin of 37.31%. Operations at the Madhupur opalware plant remained suspended during the year, while the company continues to focus on its 32,000 MTPA total capacity and expansion into the Borosilicate segment.
- Revenue from operations for FY26 decreased by 6.87% to ₹309.06 Cr compared to the previous fiscal.
- Maintained high operational efficiency with an EBITDA margin of 37.31% and PAT of ₹92.30 Cr.
- Total manufacturing capacity stands at 32,000 MTPA, although opalware operations at the Madhupur plant were suspended.
- Distribution network remains extensive with 265+ distributors and 23,000+ retailers across 600 towns.
- The 39th AGM is set for August 27, 2026, to discuss the fiscal performance and future roadmap.
La Opala RG Limited has scheduled its 39th Annual General Meeting (AGM) for August 27, 2026. The company has fixed August 20, 2026, as the record date to determine eligibility for a final dividend of Rs 5.00 per share (250% of face value). This dividend represents a yield of approximately 2.68% based on the current market price of Rs 186.5. The payout is supported by a strong TTM PAT of Rs 123 Cr and a healthy cash position with minimal debt (D/E 0.01).
- Final dividend of Rs 5.00 per equity share (250% of face value Rs 2) recommended for FY 2025-26.
- Record date for dividend entitlement and AGM voting eligibility fixed as August 20, 2026.
- 39th Annual General Meeting scheduled for August 27, 2026, via Video Conferencing.
- Dividend to be paid within 30 days from the date of declaration at the AGM.
- Company reported a high Operating Profit Margin (OPM) of 37.7% for the TTM period.
La Opala RG Limited has fixed August 20, 2026, as the record date to determine shareholder eligibility for a final dividend of Rs 5.00 per equity share (250% of face value). This dividend, recommended by the Board on May 30, 2026, is subject to approval at the 39th Annual General Meeting (AGM) scheduled for August 27, 2026. At the current market price of Rs 186.5, this represents a dividend yield of approximately 2.68%. The company maintains a strong financial position with a TTM PAT of Rs 123 Cr and minimal debt of Rs 9 Cr.
- Final dividend of Rs 5.00 per equity share of face value Rs 2.00 recommended for FY 2025-26
- Record date for dividend entitlement and AGM voting fixed for August 20, 2026
- 39th Annual General Meeting (AGM) to be held on August 27, 2026, via video conferencing
- Dividend yield stands at approximately 2.68% based on the current market price of Rs 186.5
- Dividend payment to be completed within 30 days from the date of declaration at the AGM
La Opala RG Limited has scheduled its 39th Annual General Meeting (AGM) for August 27, 2026. The Board has recommended a dividend of Rs 5.00 per share (250% of face value) for FY 2025-26, which translates to a dividend yield of approximately 2.68% at the current price of Rs 186.5. The company has fixed August 20, 2026, as the record date for determining dividend eligibility. This payout is supported by a healthy TTM PAT of Rs 123 Cr and a strong operating margin of 37.7%.
- Recommended dividend of Rs 5.00 per equity share for the financial year ended March 31, 2026
- Record date for dividend entitlement and AGM voting fixed as August 20, 2026
- 39th Annual General Meeting scheduled for August 27, 2026, via VC/OAVM
- Dividend represents 250% of the face value of Rs 2.00 per share
- Dividend to be paid within 30 days of shareholder approval at the AGM
La Opala RG Limited has issued a detailed communication to shareholders regarding the Tax Deduction at Source (TDS) for its recommended dividend of ₹5.00 per share for FY 2025-26. The dividend, representing 250% of the face value, was recommended by the Board on May 30, 2026. Resident shareholders with a valid PAN will be subject to 10% TDS if their total dividend exceeds ₹10,000, while those without a valid PAN or linked Aadhaar will face a 20% deduction. Shareholders must submit tax-exemption documents by the August 20, 2026, deadline.
- Recommended dividend of ₹5.00 per equity share of face value ₹2.00 each (250%).
- Standard TDS rate of 10% for resident individuals with valid PAN for dividends exceeding ₹10,000.
- Higher TDS rate of 20% applicable for shareholders with invalid PAN or those who have not linked Aadhaar with PAN.
- Non-resident shareholders to be taxed at 20% plus applicable surcharge and cess, unless DTAA benefits are claimed.
- Final date for submission of tax-related documents (Form 15G/15H/TRC) is August 20, 2026.
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable segment: Glass & Glassware. Revenue for H1 FY26 was INR 156.17 Cr, representing a 4.47% YoY decline from INR 163.47 Cr in H1 FY25. However, Q2 FY26 revenue showed a marginal recovery, growing 0.32% YoY to INR 90.90 Cr.
Geographic Revenue Split
Domestic sales contribute the majority of revenue, while exports reach over 40 countries. Specific percentage splits per region are not disclosed, but global demand is noted as a risk factor for export growth.
Profitability Margins
Gross Profit margin for H1 FY26 improved to 67.80% from 65.30% in H1 FY25. Net Profit Margin for FY25 stood at 29.80%, a decline from 35.22% in FY24, primarily due to higher operating expenses and lower sales volume.
EBITDA Margin
EBITDA margin for H1 FY26 was 37.98%, up from 34.23% in H1 FY25. This improvement was driven by a 10.96% reduction in employee benefit expenses (INR 29.29 Cr vs INR 32.89 Cr) and a 3.42% reduction in other expenses.
Capital Expenditure
The company is planning a new Borosilicate unit to diversify its revenue profile. This capex is expected to be funded entirely through internal accruals and available liquidity, which stood at INR 510.90 Cr as of March 31, 2025.
Credit Rating & Borrowing
The company maintains a 'Stable' outlook with a high credit rating. Borrowing costs are minimal as the Debt-Equity ratio is 0.01. Interest coverage ratio remains strong at 20.56x as of FY25.
Operational Drivers
Raw Materials
Glass-making minerals and chemicals (including soda ash and silica) are primary inputs. While specific % of total cost for each is not disclosed, the Cost of Goods Sold for H1 FY26 was INR 50.29 Cr, representing 32.2% of revenue.
Capacity Expansion
Current capacity is not specified in MT, but the company is expanding into the Borosilicate segment to complement its existing Opalware and Glassware portfolios. Timelines for the project are yet to be finalized.
Raw Material Costs
Raw material costs (COGS) decreased to INR 50.29 Cr in H1 FY26 from INR 56.72 Cr in H1 FY25. The company faces susceptibility to raw material price volatility, which can impact PBILDT margins if they fall below the 40% target.
Manufacturing Efficiency
Operating EBIT for H1 FY26 was INR 34.65 Cr. ROCE on Operating Capital Employed was 14.24% in H1 FY26 compared to 15.04% in H1 FY25, reflecting slightly lower efficiency on deployed capital.
Logistics & Distribution
The company focuses on maintaining strong distributor and retailer relationships to manage distribution, though specific costs as a % of revenue are not provided.
Strategic Growth
Expected Growth Rate
12%
Growth Strategy
Growth will be driven by diversifying into the Borosilicate glass segment, expanding the international footprint beyond the current 40 countries, and leveraging the premium 'Diva' and 'Solitaire' brands to capture higher consumer spending in the organized tableware market.
Products & Services
Opal-ware dinner sets, plates, and bowls; Glassware including tumblers and stemware; and premium handcrafted lead-free crystal glassware.
Brand Portfolio
La Opala (economy opal-ware), Diva (premium opal-ware), and Solitaire (premium glassware/crystal).
New Products/Services
New Borosilicate glass range is planned to diversify the product portfolio and increase market share in the premium kitchenware segment.
Market Expansion
The company is expanding its presence in international markets, currently featuring products in 40 countries to mitigate geography-specific economic slowdowns.
Market Share & Ranking
The company holds a leadership position in the domestic opal-ware segment. Credit rating agencies monitor 'significant increase in market share' as a positive rating sensitivity.
External Factors
Industry Trends
The industry is seeing a shift toward organized players and premiumization. Consumer preference is moving toward aesthetically pleasing and durable opal-ware over traditional materials.
Competitive Landscape
Key competition comes from other organized opal-ware players, cheaper imports, and substitute products like ceramic or melamine tableware.
Competitive Moat
The moat is built on a strong brand image ('La Opala' and 'Diva') and a leadership position in the opal-ware segment established since 1987. This brand equity allows for sustained high margins (EBITDA >30%).
Macro Economic Sensitivity
The company is sensitive to Indian GDP growth, which was 6.5% in FY25. An economic slowdown directly hampers the performance of discretionary tabletop products.
Consumer Behavior
There is an increasing trend toward luxury and lifestyle-oriented home products, though this is balanced by budget constraints during inflationary periods.
Geopolitical Risks
Global demand and exports face obstacles from economic slowdowns and trade barriers in international markets.
Regulatory & Governance
Industry Regulations
Operations must comply with safety standards and protocols for identifying training needs in the opal-ware industry to mitigate high-risk manufacturing accidents.
Taxation Policy Impact
The effective tax rate is reflected in the H1 FY26 tax payment of INR 14.75 Cr against a Profit Before Tax of INR 67.39 Cr (approx. 21.9%).
Risk Analysis
Key Uncertainties
Volatility in raw material prices and energy costs could impact the PBILDT margin. A reduction in liquid investments below INR 150 Cr is a key negative rating sensitivity.
Geographic Concentration Risk
While domestic-heavy, the company is diversified across 40 countries to mitigate single-region economic risks.
Third Party Dependencies
Dependency on a strong network of distributors and retailers is high for maintaining market reach and sales volume.
Technology Obsolescence Risk
The company mitigates technology risk by focusing on 'advanced technology' and 'unique designs' to maintain a competitive edge.
Credit & Counterparty Risk
Trade receivables stood at INR 38.13 Cr as of Sept 2025. The company wrote back a loss allowance of INR 9.54 Lakh, indicating healthy receivable quality.
