Kindly find attached Receipt of Work Order
ORDERS
▲ Positive Development
MEDIUM RISK
📅 Filed on BSE: 09 Apr 2026, 11:17 AM IST · BSE ID: ca37a574-bdf0-481d-915a-4bf0de1b4a19
View Original BSE Filing (PDF)
💡
In Simple Terms
The company just won five separate manufacturing and installation contracts worth INR 26.94 Crores total, all due by September 2026.
🤖 AI Summary
- HRS Aluglaze bags five work orders totaling INR 26.94 Crores excluding GST within three months
- Largest order from Safal Goyal Realty LLP for aluminum windows, pipe fins, glass railing—INR 10,19,38,487
- Second order from KEC International for aluminum composite cladding sheet—INR 7,23,64,400
- All five orders must complete execution by September 30, 2026
🔢 Key Numbers — exact figures from BSE filing, not rounded
Total work order value (under execution and recently awarded)
INR 26.94 Crores (excluding GST)
Order from Safal Goyal Realty LLP
INR 10,19,38,487 (excluding GST)
Order from KEC International Limited
INR 7,23,64,400 (excluding GST)
Order from Aaryan Build Projects LLP
INR 6,59,16,751 (excluding GST)
Order from Pinnacle Solutions
INR 1,57,32,377 (excluding GST)
Order from PSP Projects Limited
INR 98,89,497 (excluding GST)
Project completion deadline
September 30, 2026
🏢 How This Affects the Company
Orders expand revenue pipeline significantly. INR 26.94 Crores in booked work provides concrete near-term sales visibility across diverse client base including real estate and industrial sectors.
INR 26.94 Crores in orders (excluding GST) will flow through operating cash and working capital over next 3–12 months. Project execution by September 2026 confirms revenue recognition timing within FY27.
Orders require production scaling across aluminum fabrication, composite cladding supply, and installation capabilities. Concurrent execution of five projects by September 2026 demands workforce and supply chain coordination.
Concentration of delivery deadline (all by September 30, 2026) creates execution risk. Client concentration with top order representing 38% of total booked value introduces customer credit risk.
👥 What This Means For Shareholders
✅
Action Required
No action required. Monitor Q4 FY26 and Q1 FY27 results for order execution progress and revenue recognition.
👤
Who Is Affected
All shareholders benefit from revenue pipeline expansion. Concentration in largest customer (Safal Goyal Realty, INR 10,19,38,487, 38% of total) increases exposure to single-client delivery risk.
🔍
Management Signal
Management has secured material order book within quarter, signaling operational credibility and market traction in aluminum fabrication and installation verticals.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q4 FY26 results — check revenue recognition from these five orders and project progress updates
September 2026 — track order delivery completion and verification from each of five clients
Q1 FY27 results — confirm order execution pace and repeat business visibility from same clients
MEDIUM RISK
All orders expire same date (September 30, 2026) creating execution concentration. Top client represents 38% of total order value. No historical company track record visible.
💡 Investor Takeaway
HRS Aluglaze secured INR 26.94 Crores in work orders across five clients with execution by September 30, 2026. Largest order worth INR 10,19,38,487 from Safal Goyal Realty. All projects represent confirmed near-term revenue, though concentrated delivery deadline creates execution risk.
⚖️ Strengths & Concerns
✅ Positives
- INR 26.94 Crores booked across five diverse clients reduces single-customer dependency within pipeline.
- Short execution window of 3–12 months enables rapid cash conversion and revenue recognition in FY27.
⚠️ Concerns
- All five orders expire same deadline September 30, 2026, creating operational bottleneck risk.
- Largest order from Safal Goyal Realty represents 38% of total—INR 10,19,38,487—exposing to single-client default.