Asahi India Glass Ltd

β‚Ή 952 -0.79%
14 Jan
πŸ”— Website | BSE: 515030 | NSE: ASAHIINDIA
24,229
952
1,074
87.6
149
0.21
12.0
13.2

ABOUT

Asahi India Glass Ltd. (AIS) is India’s leading value-added and integrated glass solutions company and a dominant player both in the automotive and architectural glass segments. Established in 1984, It was formed as a Joint Venture between The Labroo Family, Asahi Glass Co. of Japan and Maruti Udyog Ltd (now Maruti Suzuki India Ltd).AIS provides end to end solutions in the entire glass value chain - from the manufacturing offloat glass, processing, fabrication to installation services. As a sand-to-solutions company, AISoffers varied types of glass products and services to its customers in India and across the globe.[1]

Stock Analysis

### Description Asahi India Glass Ltd. (AIS) is India’s leading value-added and integrated glass solutions company and a dominant player both in the automotive and architectural glass segments, providing end-to-end solutions across the glass value chain. ### Key Growth Triggers - The company plans to invest in value-added products and expand its D2C business, capitalizing on India's growth in the automotive and architectural sectors. ### Order Book Currently no data available for Order Book. ### Key Red Flags - The company reported a significant YoY drop in net profit and EPS for Q2/H1 FY26 and negative free cash flow for H1 FY26, which contrasts with the recent credit rating upgrade. ### Key Dates To Watch Currently no data available for Key Dates To Watch.

Peer Comparison

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Samvardh. Mothe.113.5535.81119929.180.50845.63-3.2530172.978.4913.66117367.728.863348.88851.183.234.600.53
2.Bosch37455.0048.67110563.661.37554.2010.824794.809.1121.1118959.7013.112271.53554.207.8810.700.01
3.Bharat Forge1447.2063.9969172.400.59299.2822.834031.939.3112.1815268.8317.661080.93299.207.394.720.71
4.Uno Minda1192.4062.9568833.420.19322.7927.144814.0313.4118.8318015.4311.541093.46303.9911.049.360.46
5.Schaeffler India3813.2053.3059564.780.73306.6524.082360.1413.8625.678834.5718.981117.62306.6510.8214.850.01
6.Tube Investments2354.8072.7545598.210.15302.05-9.735522.6412.1521.8020793.889.22626.78186.666.067.330.09
7.Endurance Tech.2520.4040.7035557.780.40227.2711.973582.8223.0117.2612724.3613.48873.65227.275.679.210.20
8.Asahi India Glas951.5087.6124228.540.2147.46-48.811082.43-0.5612.054386.4916.24276.5647.466.395.520.74

Quarterly Results

Figures in Cr.

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
9949871,0331,0531,0819991,0301,0631,0891,0541,1061,1441,082
YOY Sales Growth %
27.26%21.59%11.65%16.44%8.74%1.2%-0.34%0.98%0.69%5.54%7.39%7.62%-0.56%
Expenses
775794860842895835856892885888917963906
Material Cost %
32.85%34.64%39.8%37.42%37.77%36.45%36.97%38.82%35.29%36.9%36.2%34.61%31.11%
Employee Cost %
7.31%7.43%7.6%7.4%7.39%8.08%7.54%7.93%7.74%8.28%8.65%8.95%8.86%
Operating Profit
219193173211186164173171204166189181177
OPM %
22%20%17%20%17%16%17%16%19%16%17%16%16%
Other Income
6563434577191211
Exceptional items
00000000056.29000
Other income normal
6.44.545.843.484.343.33.774.746.9815.029.4712.3411.43
Interest
25262533333331313030325858
Depreciation
38383938404244424343446363
Profit before tax
162134116143116921021031381641237267
Tax %
35%36%40%26%27%26%26%26%33%21%26%26%29%
Net Profit
10686701068568767693129915347
EPS in Rs
4.353.522.864.363.52.813.133.153.815.293.762.21.86

Profit & Loss

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
2,1432,0572,1682,3072,5902,8592,5992,3803,1103,9184,1464,3124,386
Sales Growth %
12.01%-4.01%5.38%6.4%12.3%10.35%-9.07%-8.42%30.63%26.01%5.82%3.99%β€”
Expenses
1,9121,7401,7651,8792,1142,3382,1551,9372,3423,1103,4263,5823,674
Material Cost %
32.35%35.51%36.07%35.92%35.33%31.8%32.15%34.82%28.82%34.18%37.31%36.79%β€”
Raw material cost
6827117788619099678757239331,4131,5491,624β€”
Change in inventory
11194-326-58-39106-37-73-2-38β€”
Manufacturing Cost %
31.79%26.94%22.54%23.02%24.41%27.02%26.32%22.53%24.66%24.7%25.38%25.44%β€”
Employee Cost %
7.68%8.3%8.78%9.69%9.93%9.22%9.78%10.26%8.65%7.51%7.62%8.15%β€”
Other Cost %
17.38%13.84%14.04%12.8%11.93%13.76%14.64%13.75%13.19%12.98%12.32%12.69%β€”
Operating Profit
231317403428476520445444768808720730712
OPM %
11%15%19%19%18%18%17%19%25%21%17%17%16%
Other Income
6134282118154024212992105
Exceptional items
08-244-05887-266β€”
Other income normal
666241718103216143127β€”
Interest
162159143144123135144138118101131122178
Depreciation
1371071057692115132127155154165172213
Profit before tax
-6364158237282288184218519575454527426
Tax %
-36%21%38%37%34%34%13%36%33%36%26%26%β€”
Net Profit
-405097148185190160139348368336389321
Exceptional items AT
04-132-04555-148β€”
Profit excl Excep
-404698145183190156134342363337341β€”
Profit for PE
-404698145183190156134342363337341β€”
Profit for EPS
-405097148185190160139348368336389β€”
EPS in Rs
-1.652.0746.097.627.826.585.7114.315.1313.816.0113.11
Dividend Payout %
0%0%15%16%20%13%15%18%14%13%14%12%β€”

Balance Sheet

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
24242424242424242424242425
Reserves
2382873709291,0851,2251,3191,4621,7882,1032,3892,7233,770
Borrowings
1,3951,4181,3161,2191,3701,6351,7391,5231,2051,3501,9022,6312,796
Long term Borrowings
4108106707779081,0921,1039948627411,2621,9582,014
Short term Borrowings
697317381266358325264497318583591551664
Lease Liabilities
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Other Borrowings
28829026617610421837200000β€”
Other Liabilities
6675535916758288257857678101,1311,2021,4471,311
Trade Payables
478277278363579629572632607826829979917
Advance from Customers
851311171517242626252841β€”
Other liability items
104262302295235179190109177280345427393
Total Liabilities
2,3242,2812,3012,8463,3083,7103,8673,7763,8284,6085,5176,8257,902
Fixed Assets
1,1271,0971,0921,5361,8571,9071,9712,1612,2632,2562,3833,7953,725
Land
39.839.842.71604.99620.63620.3632.63635.74634.49682.36696.1696.87β€”
Building
427.74389.88421.7324.2388.43415.25518.12614.3697.15702.78734.87955.51β€”
Plant Machinery
1,747.91,475.331,520.74521.83889.77996.891,078.841,246.381,393.941,465.91,675.922,932.29β€”
Equipments
20.1521.35236.8213.2420.5623.5326.0627.2929.1632.3339.99β€”
Furniture & fittings
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Vehicles
8.518.711.859.3310.5711.712.3911.871316.1920.2423.78β€”
Intangible Assets
11.1511.1511.150000.831.041.041.041.041.091.16
Other fixed assets
27.2297.6898.6474.1210.6313.0111.8612.2210.2911.488.489.08β€”
Gross Block
2,483.152,200.872,299.931,604.342,015.32,168.362,378.852,692.92,937.423,077.873,354.424,925.35β€”
Accumulated Depreciation
1,356.091,103.971,208.3568.07158.56260.92407.37531.88674.75821.79971.771,130.36β€”
CWIP
4341648511344848826289227813552845
Investments
161616364645424752114244230232
Other Assets
1,1381,1271,1291,1891,2921,3091,3651,3071,4252,0112,0772,2483,099
Inventories
4754965005615936706996306859919261,0421,084
Trade receivables
404346351328424380369382380499510631638
Receivables under 6m
298233231328426383372390238319296369β€”
Receivables over 6m
10711312000000142180215263β€”
Prow for Doubtful
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Cash Equivalents
272937141721135787116138109883
Loans & Advances
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Other Assets items
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Total Assets
2,3242,2812,3012,8463,3083,7103,8673,7763,8284,6085,5176,8257,902

Cash Flows

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
848230428442416292517566377656664
Profit from operations
249325416454486530453478784821749756
Receivables
-60371024-964411-132-119-12-120
Inventory
-4-21-4-61-32-77-2969-55-30665-116
Payables
0-1142081122-44-5860-252193150
Loans Advances
00001-6-10-26-27-12-34-14
Other WC items
-2300195766-522958-192146
Working capital changes
-87-98266252-17-138119-46-2372546
Direct taxes
22-13-61-88-96-97-22-80-172-207-118-137
Cash from Investing Activity
-90-68-121-201-440-499-194-83-78-294-979-1,168
Fixed assets purchased
-94-83-124-200-446-507-218-103-100-245-856-1,244
Fixed assets sold
11301412825212414311
Investments purchased
0-0-0-16-9-0-2-2-6-63-127-0
Investments sold
0000200140065
Interest received
332000000000
Redeemp Cnce of Shares
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Acquisition of companies
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Other investing items
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Cash from Financing Activity
4823-101-249-086-105-391-460-55344475
Redemption of debentures
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Proceeds from borrowings
1026073815144374033923122034649161,045
Repayment of borrowings
-251-584-482-601-286-139-288-560-514-320-386-389
Interest paid fin
000-144-123-135-144-138-118-101-131-122
Dividends paid
000-18-29-44-590-24-49-49-49
Financial liabilities
000000-6-4-7-49-7-9
Other financing items
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Net Cash Flow
-3437-2213-744282821-28

Ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
696159526049525945464553
Inventory Days
250248233247236269305277279270218240
Days Payable
252138130160231253250278247225196225
Cash Conversion Cycle
6717116313965651075876916868
Working Capital Days
-116-4-1319-2-16-14-52923721
ROCE %
6%13%18%19%17%16%11%11%21%21%15%12%

Shareholding Pattern

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
54.23%54.24%54.24%54.23%54.22%54.22%54.22%54.22%54.22%54.19%54.09%51.58%
Abhinav Agarwal
0.020.020.020.020.020.020.020.020.020.020.020.02
Ajay Labroo
0.130.130.140.140.140.140.140.140.140.110.010.01
Allied Fincap Services Private Limited
β€”0.160.160.160.160.160.160.160.160.160.160.16
Aneesha Labroo
0.260.260.260.260.260.260.260.260.260.260.260.25
Anil Monga
0.030.030.030.070.070.070.070.070.070.070.070.06
Anjali Dhar
β€”β€”β€”0.030.030.030.030.030.030.030.030.03
Anuradha Mahindra
1.371.371.371.371.371.371.371.371.371.371.371.31
Asahi Glass Co_, Ltd
22.2122.2122.2122.2122.2122.2122.2122.2122.2122.2122.2121.18
Ashok Kanhayalal Monga
0.080.120.120.050.050.050.050.050.050.050.050.04
Ashok Kapur
0.020.020.020.020.020.020.020.020.020.020.020.02
Bharat Roy Kapur
0.160.160.160.160.160.160.160.160.160.160.160.16
Bhupinder Singh Kanwar
000000000000
Chand Rani Monga
0.03β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Charat Aggarwal
0.050.050.050.050.050.050.050.050.040.030.020.02
Daryao Singh
000000000000
Dinesh K_ Agarwal
0.080.080.080.080.080.080.080.080.080.080.080.08
Dr Manjula Milind Pishawikar
0.020.020.020.020.020.020.020.020.020.020.020.02
Essel Marketing (P) Ltd
1.661.661.661.661.661.661.661.661.661.661.661.58
Kanta Gupta
β€”00000000000
Kanta Labroo
0.010.01β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Kapoor Chand Gupta
0β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Keshub Mahindra
0.510.510.510.51β€”β€”β€”β€”β€”β€”β€”β€”
Krishna Chamanlal Tiku
0.070.070.070.070.070.070.070.070.070.070.070.06
Lans Business LLP
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”0.010.02
Leena S Labroo
0.850.850.850.851.431.431.431.431.441.451.451.38
M Lakshmi
0.030.030.030.030.030.030.030.030.030.030.030.03
M N Chaitanya
0.020.020.020.020.020.020.020.020.020.020.020.02
Malathi Raghunand
0.130.130.130.130.130.130.130.130.130.130.130.12
Maruti Suzuki India Ltd
11.1111.1111.1111.1111.1111.1111.1111.1111.1111.1111.1110.59
Nisheeta Labroo
0.30.30.30.30.30.30.30.30.30.30.30.28
Padma N Rao
0.010.010.010.010.010.010.010.010.010.010.010.01
Pradeep Beniwal
0.340.340.340.340.340.340.340.340.340.340.340.32
Praveen Kumar Tiku
0.020.020.020.020.020.020.020.020.020.020.020.02
Rajeev Khanna
0.010.010.010.010.010.010.010.010.010.010.010.01
Rajeev Khanna Tradelinks Llp
0.120.120.120.120.120.120.120.120.120.120.120.11
Riva Agarwal
0.020.020.020.020.020.020.020.020.020.020.020.02
Sabina Agarwal
0.090.090.090.090.090.090.090.090.090.090.090.08
Sanjay Labroo
12.1812.0212.0212.0212.0212.0212.0212.0212.0212.0212.0211.47
Sanjaya Kumar
0.110.110.110.110.110.110.110.110.110.110.110.1
Satya Nand
0.150.150.150.150.150.150.150.150.150.150.150.14
Shashi Palamand
0.640.640.640.640.640.640.640.640.640.640.640.61
Sudha K Mahindra
0.130.130.130.13β€”β€”β€”β€”β€”β€”β€”β€”
Sundip Kumar
0.130.130.130.130.130.130.130.130.130.130.130.12
Sunita M Monga
000000000000
Suryanarayana Rao Palamand
0.640.640.640.640.640.640.640.640.640.640.640.61
Sushma Aggarwal
0.050.050.050.050.050.050.050.050.050.050.050.05
Tanya Kumar
0.030.030.030.030.030.030.030.030.030.030.030.02
Tarun R Tahiliani
0.230.230.230.230.230.230.230.230.230.230.230.22
Uma R Malhotra
0.120.120.120.120.140.140.140.140.140.140.140.14
Uma Ranjit Malhotra
β€”β€”β€”β€”0.030.030.030.030.030.030.030.03
V D Nanda Kumar
0.030.030.030.030.030.030.030.030.030.030.030.02
Yuthica Keshub Mahindra
0.040.040.040.040.040.040.040.040.040.040.040.04
FIIs
3.78%3.79%3.62%3.68%3.71%3.94%3.94%4.01%4.19%4.15%3.74%4.87%
DIIs
1.68%1.73%1.72%1.83%1.91%1.44%1.47%1.55%1.62%1.63%1.78%5.16%
Government
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
Public
40.31%40.24%40.42%40.26%40.15%40.37%40.34%40.2%39.96%40.01%40.4%38.39%
Others
β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”β€”
No. of Shareholders
58,71358,71661,23262,82559,97063,46560,22762,83663,20065,56463,61164,209

News & Updates

BSE Announcements

Direct from BSE filings, AI summarised

Asahi India Glass: CARE Ratings Upgrades Long-Term Bank Facilities to 'AA- / Stable'
15 Jan 2026
Asahi India Glass Submits Q3 FY26 SEBI Compliance Certificate
12 Jan 2026
Adani Green Energy Subsidiary Signs Power Supply Agreement with Asahi India Glass for 20.8 MW Hybrid Project
7 Jan 2026
Asahi India Glass Limited Announces Trading Window Closure for Q3 FY26 Results
31 Dec 2025
Asahi India Glass Reports Unaudited Financial Results for Q2 and H1 FY2025-26
6 Nov 2025

Other Websites

External media mentions

Adani Green, Titan, ONGC: 10 Stocks Eyed on Jan 8 as Markets Brace for Opening Dip
8 Jan 2026
Adani Green Seals 20.8 MW Hybrid Power Deal With Asahi India Glass
7 Jan 2026
Adani Ports Tumbles Below Critical 4-Month Support! ICICI Bank, Asahi India Also Signal Danger – What's Next?
30 Dec 2025
Indian Market Shaken: Monday Dip Sparks Fear! 3 Stocks to Trade Amidst Nifty Expiry Uncertainty
2 Dec 2025
Shockwave Hits India's Top Investors: Millions Vanish as Q3 Market Correction Bites!
24 Nov 2025

News Articles

Editorial & research coverage

Adani Green Seals 20.8 MW Hybrid Power Deal With Asahi India Glass
7 Jan 2026
Adani Ports Tumbles Below Critical 4-Month Support! ICICI Bank, Asahi India Also Signal Danger – What's Next?
30 Dec 2025
Indian Market Shaken: Monday Dip Sparks Fear! 3 Stocks to Trade Amidst Nifty Expiry Uncertainty
2 Dec 2025

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018.
Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Nov 2025 - Publication of Unaudited Financial Results for the second quarter and half year ended 30th September, 2025.
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
5 Nov 2025 - CARE monitoring report (30 Sep 2025): QIP Rs1000 crore; Rs58.75Cr loan repayment, Rs192Cr WCDL repayment, Rs0.61Cr expenses.
Monitoring Agency Report For The Quarter Ended 30Th September, 2025
5 Nov 2025 - QIP monitoring report (Rs1000 crore) for quarter ended Sep 30, 2025; Rs58.75cr and Rs192.00cr utilized.

Annual Reports

Credit Ratings

Rating update
2d from care
Rating update
7 Oct 2025 from crisil
Rating update
8 Jul 2025 from care
Rating update
19 Sep 2024 from care
Rating update
16 Jul 2024 from crisil
Rating update
30 Apr 2024 from care

Concalls

No Concalls