PNN

Hyderabad (Telangana) [India], February 5: Standard Engineering Technology Limited, formerly Standard Glass Lining Technology Limited, today announced its Q3 and Nine-Month FY26 results, marking a defining phase in the Company's strategic evolution, financial growth, and long-term value creation journey.

Financial Highlights:

Key Highlights for 9M FY26 Financial Results

- Total Income stood at Rs. 562 crore, registering a 23.6% YoY growth- EBITDA came in at Rs. 102 crore, up 11.9% YoY, with an EBITDA margin of 18.2%- Profit Before Tax (PBT) is Rs. 83 crore, reflecting a 15.9% YoY increase- Profit After Tax (PAT) is at Rs. 62 crore, up 18.8% YoY, with a PAT margin of 11.0%

Key Highlights for Q3 FY26 Financial Results

- Total Income stood at Rs.196 crore, registering a 37.1% YoY growth- EBITDA came in at Rs. 34 crore, upby17.0% YoY, with an EBITDA margin of 17.1%- Profit Before Tax (PBT) is Rs. 27 crore, up by22.7% YoY- Profit After Tax (PAT) is at Rs. 20 crore,up by28.3% YoY, with a PAT margin of 10.4%

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.'

Q3 FY26 represents a milestone quarter for the Company. During the quarter, we formally completed the change of our corporate name to Standard Engineering Technology Limited.

This change is strategic, deliberate, and forward-looking.

Let me clearly state for our investors:

- Glass lining remains central to our business and growth- It continues to be one of our strongest and fastest-growing verticals- The name change reflects an expansion of capability and ambition, not a dilution of focus

Over the last few years, the Company has evolved from a product-centric organization into a high-precision, integrated engineering platform--capable of delivering complex, multi-disciplinary projects with single-point responsibility from concept to commissioning.Our new name simply aligns our identity with this reality.

During Q3, we completed critical strategic initiatives that place the Company on a structurally stronger footing for the next decade:

- Acquisition of Scigenics (India) Private Limited, strengthening our position in bioprocess and fermentation systems- Acquisition of a majority stake in C2C Engineering Private Limited, now Standard C2C Engineering Private Limited, bringing process, mechanical, civil, HVAC, electrical, instrumentation, and automation engineering fully in-house

With these integrations, SETL today operates as a true concept-to-commissioning engineering solutions provider, significantly expanding:

- Our addressable market- Project scale capability- Long-term revenue visibility

Glass lining continues to deliver strong growth and innovation leadership.

- Our shell-and-tube glass-lined heat exchangers, developed with Japanese technology partner GL Hakko, have seen exceptional market acceptance- - Over 200 units currently in order book- 100 units already delivered successfully- These products are increasingly replacing graphite and alloy alternatives due to superior safety, lifecycle performance, and reliabilityOne of the most important value-creation drivers ahead is conductivity glass-lined reactors.- Multiple reactors have already been manufactured, supplied, and executed successfully- Customer validation has been extremely positive, particularly from regulated pharmaceutical applications

Based on this success:

- April 2027 onwards, we will officially launch conductivity glass-lined reactors in India and global markets- Our international partner IPP has expressed strong interest in selling a majority of these reactors globallyWe believe this technology has the potential to set new global benchmarks in plant safety, creating a long-term, high-margin growth engine for the Company.

The Union Budget 2026, with nearly a 10% increase in allocation to the Department of Health and Family Welfare, reinforces long-term investment momentum across:

- Pharmaceuticals- Biotechnology- Advanced manufacturing

For SETL, with integrated engineering and turnkey execution capabilities, this creates sustained demand visibility across greenfield and brownfield projects.

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