Sejal Architectural Glass Ltd (SAGL) is in the business of   processing glass and has processing facilities for insulating,    toughened, laminated and decorative Glasses. SAGL has an integrated   processing unit, having processing lines for all specialty glasses      (Insulating, Toughened and Laminated) under one roof.

        SAGL has three distinct BUSINESS UNITS i.e. Processing,
Retail and
Float   glass manufacturing.

Till FY07 the revenues were purely generated     from the processing division. The retail division commenced its    operations from April, 2007. Further the float glass plant which is the main inflexion point is under construction and would be     operational in Q1FY10 With this SAGL becomes a complete value chain providing company from   manufacturing of glass to selling of high end lifestyle products for     home décor (art & artifacts, lights & luminaries, sanitary - ware &   bath fittings and glass products).

The company is first fully integrated Indian player in architectural glass .

SAGL is currently having a processing unit and is now setting up a   new float glass manufacturing facility. This initiative of backward   integration would help the company in procuring raw material for its   processing unit. This will reduce raw material cost, dependence on     imports and other domestic players for glass, thereby improving    operating margins once the plant becomes fully operational.

Demand for glass to remain robust

The demand for glass is expect to remain strong going forward due to pick up in economic activity.

FLOAT PLANT IS A 550 TPD PLANT AND BOOK VALUE OF SHARE IS AROUND 50.
FINANCIALS
COMPANY HAD RAISED 105.73 CRORES THROUGH IPO.
CURRENT EQUITY IS 28 CRORES AND AT 47 A SHARE THE MARKET CAP IS 131 CRORES. PROMOTER STAKE IS AROUND 53 %.
FY 08 SALES 54 CRORES , PAT 4.65 CRORES
FY 09 SALES 50.5 CRORES PAT 2.12 CRORES
NET PROFITS AND SALES ARE EXPECTED TO RISE SUBSTANTIALLY IN FY 11 ONCE BACKWARD AND FORWARD INTEGRATION IS COMPLETED.

REPLACEMENT COST OF PLANT IS ESTIMATED AROUND 135 PER SHARE.

RECENT ANNOUNCEMENT ON BSEINDIA REGARDING ALLOTMENT OF WARRANTS TO PROMOTER GROUP.
Sejal Architectural Glass Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 17, 2009 has accorded their approval to the issue of 50,00,000 warrants to Promoters / Promoters Group shareholders on preferential basis in terms of Section 81(1A) of the Companies Act 1956 subject to approval of the Shareholders at the Annual General Meeting. The details of the allottees is as follows.

1. Sejal Float Glass Ltd - 32,50,000 Warrants

2. Sejal Finance Ltd - 13,00,00 Warrants

3. Hero Multi Pap Pvt. Ltd - 4,50,000 Warrants

Total - 50,00,000 Warrants.

The promoters had pledged 17% of their stake (total stake 53%)




            
THE FOLLOWING ARE THE SALIENT POINTS OF PROGRESS REPORT GIVEN ON BSEINDIA.COM.

•     Dispatch of material 100% completed. 99% of imported material arrived at site
•     Batch Plant installation 40% completed, Cullet return system installation 60% completed
•     Procurement of Utilities 90% completed.
•     Phase 1 civil work completed 96%
•     Detail engineering for phase 2 completed by 98%. Phase 2 civil work completed by 63%
•     Electrical detail engineering completed by 98%. Electric installation in progress
•     Major and critical equipment allready at site and installation is in progress
•     Piping and Mehanical fabrication work in progress
•     Switch yard installation completed by 95%

which are the other companies which are into architectural glass? Would they be asahi and saint gobain?