La Opala RG Ltd(LAOPALA)

NSE: LAOPALABSE: 526947

₹ 142.15-1.86%refreshed 23 Oct, 03:58 pm ISTMarket cap: ₹ 1,578 crWebsite: www.laopala.inUpdated: 24 Oct 2026

About

La Opala RG makes premium tableware, specialising in opal glass and 24% lead crystal products under the La Opala, Diva and Solitaire Crystal brands. The company says it commands nearly half of India's organised opalware market. It reported FY26 revenue of Rs 309.06 Cr from plants with a combined capacity of 32,000 TPA, and exports to more than 40 countries.^[1][2]

Business segments

Single segment, glass and glassware: FY26 revenue Rs 30,541.29 lakh vs Rs 32,409.54 lakh in FY25.^[1]
Geographic split FY26: India Rs 26,967.70 lakh, Overseas Rs 3,573.59 lakh.^[1]
Geographic split FY25: India Rs 28,073.67 lakh, Overseas Rs 4,335.87 lakh.^[3]

Products and brands

Flagship brands are La Opala, Diva and Solitaire Crystal (FY26).^[1]
Diva is the premium opalware brand, with collections including Classique, Ivory, Pearl, Cosmo, Quadra, Sovrana, Velvett and Tea-Coffee.^[1]
Solitaire Crystal is the luxury brand, offering handcrafted 24% lead crystal tumblers and vases.^[1]
Cook Serve Store range: 100% borosilicate glass storage and bakeware containers.^[1]
Opal glassware dinner sets come in combinations from 6 pieces to 62 pieces.^[1]

Manufacturing capacity

Sitarganj, Uttarakhand (Unit 1 + Unit 2): 31,000 TPA of opalware, as of FY26.^[1]
Madhupur, Jharkhand: 1,000 TPA of crystalware, as of FY26.^[1]
Total capacity was 32,000 MTPA across 3 facilities in Q1 FY27. It has been unchanged since 2022, and no new expansion was disclosed.^[4]
Capital work in progress fell to Rs 9.77 lakh in Q2 FY26 from Rs 577 lakh at FY25.^[5]
Workforce of 800+ people as of March 31, 2026.^[1]

Key operating numbers

Gross margin was 69.10% in Q1 FY27, down from 72.08% in Q1 FY26, as COGS rose to Rs 2,205 lacs from Rs 1,822 lacs.^[4]
Gross margin was 68.11% in FY26 vs 63.14% in FY25. Part of the gain came from a Rs 1,920 lakh inventory build.^[6]
ROCE on operating capital employed was 28.11% in FY26 vs 25.66% in FY25.^[6]

Customers and distribution

There were 265 distributors and 23,000+ dealers in Q1 FY27, up from 225 distributors in FY26 and 200+ in Q2 FY26.^[4][6][5]
Retail reach covers over 23,000 retailers across 600 towns (FY26).^[1]
Channels include general trade, modern trade, exports, e-commerce, quick commerce, HORECA, institutional and CPC (Q1 FY27).^[4]
In 2025-26 the company substantially completed the modernisation of its distribution network, expanding into underpenetrated markets.^[1]
The company exports to more than 40 countries (FY26).^[1]

Risk management and ratings

Key raw materials are bought under long-term contracts at agreed rates. Currency risk is managed through a natural hedge and case-by-case forward contracts (FY26).^[1]
CARE reaffirmed its ratings of AA; Stable (long-term) and A1+ (short-term) in a press release dated January 12, 2026.^[1]

Ownership and balance sheet

Over the two years to FY26, the promoter group raised its holding from 65.64% to 66.15%.^[1]
The company says it is debt-free, with cash reserves of Rs 520.96 Crore as of March 31, 2026.^[1]

Market Cap

₹1,578 Cr

High / Low

₹237 / 151

Stock P/E

18.6

Price / Book

2.1

Book Value

₹74

EPS

₹8.3

No. of Shares

11.1 Cr

ROCE

15.2%

ROE

11.2%

OPM

37.2%

Debt / Equity

0.01

Sales

₹309 Cr

Net Profit

₹92 Cr

Promoter holding

66.5%

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