Asahi India Glass Ltd

₹ 603 -0.50%

03 May - close price

aisglass.com BSE: 515030 NSE : ASAHIINDIA

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 of
float glass, processing, fabrication to installation services. As a sand-to-solutions company, AIS
offers varied types of glass products and services to its customers in India and across the globe. ^[1]

Key Points

History^[1]
Initially known as the Indian Auto Safety Glass Private Limited, the company changed its name to Asahi India Safety Glass limited (AIS) in 1985. It started operations manufacturing toughened glass for MSIL. Subsequently, with acquisition of Float glass India, it forayed into construction glass business and changing its name to Asahi India Glass limited in Sep,2002.

Website BSE NSE

Market Cap ₹ 14,659 Cr.
Current Price ₹ 603
High / Low ₹ 651 / 445
Stock P/E 44.6
Book Value ₹ 93.4
Dividend Yield 0.33 %
ROCE 20.6 %
ROE 18.4 %
Face Value ₹ 1.00

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Pros

Cons

The company has delivered a poor sales growth of 8.63% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Glass & Glass Products Industry: Glass & Glass Products

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	739	803	594	781	812	926	904	994	987	1,033	1,053	1,081	999
	562	621	473	593	595	681	681	775	794	860	842	895	835
Operating Profit	177	182	120	189	217	245	223	219	193	173	211	186	164
OPM %	24%	23%	20%	24%	27%	26%	25%	22%	20%	17%	20%	17%	16%
	4	16	2	5	5	9	5	6	5	6	3	4	3
Interest	34	30	32	31	28	27	25	25	26	25	33	33	33
Depreciation	33	34	36	39	42	38	39	38	38	39	38	40	42
Profit before tax	114	134	55	124	152	189	164	162	134	116	143	116	92
Tax %	35%	37%	32%	34%	34%	32%	35%	35%	36%	40%	26%	27%	26%
	73	85	37	81	100	129	107	106	86	70	106	85	68
EPS in Rs	3.02	3.49	1.54	3.34	4.12	5.31	4.40	4.35	3.52	2.86	4.36	3.50	2.81
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	1,646	1,913	2,143	2,057	2,168	2,307	2,590	2,859	2,599	2,380	3,110	3,918	4,166
	1,470	1,746	1,912	1,740	1,765	1,879	2,114	2,338	2,155	1,937	2,342	3,110	3,432
Operating Profit	175	167	231	317	403	428	476	520	445	444	768	808	734
OPM %	11%	9%	11%	15%	19%	19%	18%	18%	17%	19%	25%	21%	18%
	12	11	6	13	4	28	21	18	15	40	24	21	17
Interest	147	169	162	159	143	144	123	135	144	138	118	101	124
Depreciation	127	149	137	107	105	76	92	115	132	127	155	154	160
Profit before tax	-87	-140	-63	64	158	237	282	288	184	218	519	575	467
Tax %	32%	34%	36%	21%	38%	37%	34%	34%	13%	36%	33%	36%
	-59	-92	-40	50	97	148	185	190	160	139	348	368	329
EPS in Rs	-2.42	-3.78	-1.65	2.07	4.00	6.09	7.62	7.82	6.58	5.71	14.30	15.13	13.53
Dividend Payout %	0%	0%	0%	0%	15%	16%	20%	13%	15%	18%	14%	13%

Compounded Sales Growth
10 Years:	7%
5 Years:	9%
3 Years:	15%
TTM:	9%

Compounded Profit Growth
10 Years:	20%
5 Years:	15%
3 Years:	33%
TTM:	-23%

Stock Price CAGR
10 Years:	27%
5 Years:	21%
3 Years:	26%
1 Year:	24%

Return on Equity
10 Years:	16%
5 Years:	16%
3 Years:	17%
Last Year:	18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	16	16	24	24	24	24	24	24	24	24	24	24	24
Reserves	132	89	238	287	370	929	1,085	1,225	1,319	1,462	1,788	2,103	2,246
	1,566	1,544	1,395	1,418	1,316	1,219	1,370	1,635	1,739	1,523	1,205	1,350	1,507
	541	690	667	553	591	675	828	825	785	767	810	1,131	1,173
Total Liabilities	2,255	2,338	2,324	2,281	2,301	2,846	3,308	3,710	3,867	3,776	3,828	4,608	4,950
	1,259	1,181	1,127	1,097	1,092	1,536	1,857	1,907	1,971	2,161	2,263	2,256	2,287
CWIP	21	33	43	41	64	85	113	448	488	262	89	227	324
Investments	16	16	16	16	16	36	46	45	42	47	52	114	125
	959	1,109	1,138	1,127	1,129	1,189	1,292	1,309	1,365	1,307	1,425	2,011	2,215
Total Assets	2,255	2,338	2,324	2,281	2,301	2,846	3,308	3,710	3,867	3,776	3,828	4,608	4,950

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	170	101	8	48	230	428	442	416	292	517	566	377
	-210	-81	-90	-68	-121	-201	-440	-499	-194	-83	-78	-294
	36	24	48	23	-101	-249	-0	86	-105	-391	-460	-55
Net Cash Flow	-5	44	-34	3	7	-22	1	3	-7	44	28	28

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	69	70	69	61	59	52	60	49	52	59	45	46
Inventory Days	346	265	250	248	233	247	236	269	305	277	279	270
Days Payable	268	289	252	138	130	160	231	253	250	278	247	225
Cash Conversion Cycle	147	46	67	171	163	139	65	65	107	58	76	91
Working Capital Days	24	15	3	52	51	61	49	25	23	71	67	78
ROCE %	4%	2%	6%	13%	18%	19%	17%	16%	11%	11%	21%	21%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	54.27%	54.24%	54.24%	54.24%	54.24%	54.23%	54.23%	54.24%	54.24%	54.23%	54.22%	54.22%
	1.12%	1.25%	1.48%	1.47%	1.63%	3.29%	3.78%	3.79%	3.62%	3.68%	3.71%	3.94%
	0.85%	0.89%	1.53%	1.55%	1.83%	1.66%	1.68%	1.73%	1.72%	1.83%	1.91%	1.44%
	0.38%	0.38%	0.38%	0.38%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	43.38%	43.24%	42.37%	42.36%	41.93%	40.81%	40.31%	40.24%	40.42%	40.26%	40.15%	40.37%
No. of Shareholders	42,320	42,381	46,957	51,945	53,158	57,158	58,713	58,716	61,232	62,825	59,970	63,465

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	54.31%	54.27%	54.28%	54.27%	54.27%	54.24%	54.24%	54.22%
	1.25%	1.13%	1.10%	1.18%	1.14%	1.47%	3.79%	3.94%
	1.19%	1.33%	1.52%	1.44%	0.81%	1.55%	1.73%	1.44%
	0.00%	0.00%	0.00%	0.00%	0.38%	0.38%	0.00%	0.00%
	43.25%	43.27%	43.10%	43.11%	43.40%	42.36%	40.24%	40.37%
No. of Shareholders	49,430	49,650	47,273	47,899	40,271	51,945	58,716	63,465

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Asahi India Glass Ltd

Asahi India Glass Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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