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Gold Plus Glass Industry Company Details
Gold Plus Glass Industry is the second-largest float glass manufacturer in India with 16% share of manufacturing capacity for float glass in Fiscal 2021. Its significant operations and focus on value-added glass segment have led it to become one of the leading players in India with 30% market share of sales volume for value-added glass and 15% market share of sales volume for clear glass in Fiscal 2021. In north India, it is the largest float glass manufacturer and the only company with two production lines at one location with an aggregate capacity of 1,250 tonnes per day (“TPD”).
It commenced commercial production in 2009, and have grown its brand and expansive distribution network to become one of the leading companies in float glass manufacturing with comprehensive range of clear and value-added glass. It is among only two manufacturers in India capable of manufacturing a comprehensive range of clear and value-added glass from one location with both of the production lines being fungible which provides us with certain competitive advantages.
The Indian float glass manufacturing industry is a highly consolidated industry with only five organized players and no unorganized player. Demand for float glass is expected to rise to between 4.6 million tons to 5.0 million tons in Fiscal 2026 from 2.6 million tons in Fiscal 2021, posting a rapid growth with a CAGR of 12% to 14%. Demand revival and subsequent acceleration after the pandemic in key end use sectors and faster economic growth should support demand for float glass until Fiscal 2026 and beyond and is estimated that demand for float glass to grow to Rs 165 billion to Rs
175 billion by Fiscal 2026 growing at a CAGR of 15% to 17%.
Since there is no effective substitute product for glass used in various end use industries such as construction, industrial and automotive sectors, the limited supply capacity of domestic manufacturers is not able to meet total demand of float glass in India

In order to capitalize on such demand-supply gap, it intends to set up an additional manufacturing facility with an annual installed capacity of 584,000 TPA (equivalent to 1,600 TPD) of float glass in Belgaum, Karnataka, of which line 3 with an annual installed capacity of 292,000 TPA (equivalent to 800 TPD) is expected to be operational in the fourth quarter of Fiscal 2023, while line 4 with annual installed capacity of 292,000 TPA (equivalent to 800 TPD) is expected to be operational in the fourth quarter of Fiscal 2024. It also intends to set up another production line for the manufacture of silver mirror with an
annual installed capacity of 36,500 TPA (equivalent to 100.00 TPD) at its Roorkee manufacturing facility which is expected to be operational in the second quarter of Fiscal 2023.
In addition, a significant increase in solar installations in India has been driving demand for solar power equipment/panels and solar glass in India, and demand for solar glass in India is expected to increase from 1,400 TPD in Fiscal 2020 to 4,600 TPD by Fiscal 2026. Imports accounted for 80% to 90% of the domestic solar glass requirement for use either as a component or as a module assembly and there exists significant headroom for domestic manufacturers to expand in this solar glass sector. Currently, there is only one manufacturer of solar glass in India having a capacity of 450 TPD. In order to capitalize on such demand supply gap for solar glass, it intends to set up annual installed capacity of 109,500 TPA (equivalent to 300 TPD) of solar glass capacity in its proposed manufacturing facility in Belgaum, Karnataka, expected to be become operational in the second quarter of Fiscal 2024.

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