5449132026-04-012026-06-305449132026-04-012026-06-30in-capmkt:OtherExpenses1Member5449132026-04-012026-06-30

ItemsThatWillNotBeReclassifiedToProfitAndLoss1

iso4217:INRiso4217:INRxbrli:shares

544913

GLASSWALL

NOTLISTED

INE644Q01039

GLASS WALL SYSTEMS (INDIA) LIMITED

Main Board

Equity

2026-04-01

2027-03-31

2026-10-06

2026-09-30

INR

Millions

Quarterly

First quarter

Single segment

Construction Activities

2026-10-06

17:45:00

2026-10-06

18:30:00

Not applicable

2026-04-01

2026-06-30

Unaudited

Consolidated

1074480000

24960000

1099440000

467840000

113020000

8460000

15360000

264240000

868920000

230520000

58710000

-1140000

57570000

172950000

-3380000

169570000

172949000

-3383000

169270000

2.04

1. The Statement of unaudited consolidated financial results for the quarter ended 30 June 2026 of Glass Wall Systems (India) Limited (formerly known as Glass Wall Systems (India) Private Limited) (“the Company” or “the Parent Company”), its subsidiary (together referred to as “the Group”) have been reviewed by the Audit Committee and approved by the Board of Directors of the Parent Company at their respective meetings held on 6 October 2026. The statutory auditors have conducted a limited review of the above Statement of unaudited consolidated financial results for the quarter ended 30 June 2026. 2. The Statement of unaudited consolidated financial results for the quarter ended 30 June 2026 has been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 ("the Act") read with the relevant rules thereunder and in terms of Regulation 33 of the Securities and Exchange Board of India ("SEBI") (Listing Obligations and Disclosures Requirements) Regulation, 2015, as amended. 3. Subsequent to the quarter ended 30 June 2026, the Parent Company has completed its Initial Public Offer (IPO) of 23,510,425 equity shares of face value of Rs. 2 each at an issue price of Rs. 182 per equity share. The issue consisted of a fresh issue of 32,96,703 equity shares aggregating to Rs. 600.00 Million and an offer for sale of 2,02,13,722 equity shares by selling shareholders aggregating to Rs. 3,678.90 Million. The Parent Company's equity shares were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on 16 September 2026. Accordingly, the Statement of unaudited consolidated financial results for the quarter ended 30 June 2026 have been drawn up for the first time in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 as amended. 4. The Joint Commissioner (Appeals) adjudicated the Maharashtra VAT (MVAT) assessment for the financial years 2005-06 to 2017-18 involving an amount of Rs. 312.13 Million and Central Sales Tax (CST) assessment for the financial years 2014-15 and 2015-16 involving an amount of Rs. 19.93 Million against which the Group had filed appeals with the Maharashtra Sales Tax Tribunal (MSTT). During the year ended 31 March 2026, MSTT passed an order dated 9 July 2025 quashing the demand and asked relevant authorities to recompute demand based on its order. The MVAT Department filed a review/rectification application before the MSTT against the said order which were dismissed by the MSTT vide its order dated 4 May 2026, and upheld its earlier decision. Subsequent to the quarter ended 30 June 2026, the department has filed a petition with the Bombay High Court dated 24 August 2026. No further proceedings have taken place since filing of the petition. 5. During the year ended 31 March 2026, the Group introduced the Employee Stock Option Plan 2025 (“ESOP 2025” or the “Plan”), comprising a pool of 4,23,192 options with a face value of Rs.2 each with an exercise price of Rs.177.81 per option. The options vest equally over a period of three years, subject to discretion of the management and fulfilment of specified conditions. 6. During the year ended 31 March 2026, the Company acquired 100% equity shares of Yes Systems Private Limited ("Yes Systems") pursuant to a Share Purchase and Swap Agreement dated 21 August 2025. Yes Systems is in the business of Installation of fenestration in commercial & residential properties etc. including allied activities. As part of the acquisition, the Company issued fully paid up equity shares to the shareholders of Yes Systems in the exchange ratio of 10,000 : 17,43,385. Accordingly, for 50,000 fully paid equity shares of Rs.10 each held in Yes Systems, the shareholders received 87,16,925 fully paid equity shares of Rs.2 each of Glass Wall Systems (India) Limited. The acquisition consideration aggregated to Rs.1,549.96 Million and has been recorded as an investment in the standalone financial statements of the Company as per Ind AS 27 "Separate Financial Statements". This amount comprises equity share capital of Rs.17.43 Million and securities premium of Rs.1,532.53 Million. Both the entities, being under control of same Group of shareholders, this acquisition had been accounted by the Company using the common control method in accordance with Appendix C of Ind AS 103 'Business Combinations' using pooling of interest method in the consolidated financial statements of the Group. In relation to the above, the weighted average number of equity shares of all periods/year includes 87,16,925 equity shares issued for the acquisition of Yes Systems for the purpose of calculation of Basic and Diluted Earnings Per Share (EPS). EPS has been computed as if the acquisition had occurred from the beginning of the earliest period presented. 7. Subsequent to the quarter ended 30 June 2026, the Company incorporated a wholly owned subsidiary PP Vitrum Systema Technologies Private Limited on 8 July 2026. 8. The Group presents the segment information identified on the basis of internal report used by the Group to allocate resources to the segment and assess their performance. The Board of Directors of the Company is collectively the Chief Operating Decision Maker (CODM) of the Group. The Group has only one reportable business segment of "Construction Activities". Therefore, the disclosure as per Ind AS 108 "Operating Segments" and regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 as amended is not applicable to the Group. 9. The figures for the quarter ended 31 March 2026 represents the balancing figures between the audited figures in respect of the full financial year ended 31 March 2026 and the unaudited year-to-date figures for the nine months period ended 31 December 2025 as compiled by management and which was not subjected to audit or review by the statutory auditors. Further, the figures for the quarter ended 30 June 2025 have also been compiled by the management. Neither the figures for the quarter ended 31 March 2026 nor those for the quarter ended 30 June 2025 have been subjected to audit or review by the statutory auditors.

Other Expenses

264240000

Re-measurement (loss) on defined benefit plans

-4520000

-1140000

-3380000