Asahi India Glass Ltd

₹ 815 -3.01%

01 Aug - 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

Promoter
Asahi Glass Company Ltd (AGC), is the largest shareholder holding a 22% stake in the company as of June 2024, AGC is one of the leading manufacturers of glass globally, with a 12% global market share in the float glass segment and 30% in the auto glass segment, it also provides technical support to the company. ^[1] ^[2]

Website BSE NSE

Market Cap ₹ 19,808 Cr.
Current Price ₹ 815
High / Low ₹ 876 / 577
Stock P/E 61.6
Book Value ₹ 110
Dividend Yield 0.25 %
ROCE 12.6 %
ROE 13.7 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 7.42 times its book value
The company has delivered a poor sales growth of 11.7% over past five years.
Company might be capitalizing the interest cost
Dividend payout has been low at 13.8% of profits over last 3 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

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Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Consumer Discretionary BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market Nifty500 Multicap Infrastructure 50:30:20 Nifty500 Equal Weight Nifty500 LargeMidSmall Equal-Cap Weighted

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	923	1,014	1,010	1,072	1,089	1,120	1,044	1,105	1,133	1,158	1,124	1,180	1,229
	702	799	821	902	880	934	880	927	951	945	949	983	1,036
Operating Profit	221	215	188	170	209	186	163	178	181	213	175	197	192
OPM %	24%	21%	19%	16%	19%	17%	16%	16%	16%	18%	16%	17%	16%
	8	9	7	9	7	8	2	2	5	7	46	9	11
Interest	26	26	27	26	34	34	34	33	32	31	32	33	59
Depreciation	40	40	39	41	41	43	46	48	47	48	49	49	68
Profit before tax	163	159	129	112	141	117	85	100	107	141	140	124	76
Tax %	35%	34%	36%	39%	27%	26%	26%	27%	28%	33%	26%	26%	28%
	106	104	83	68	103	86	63	73	77	95	105	92	55
EPS in Rs	4.40	4.33	3.45	2.84	4.27	3.57	2.61	3.04	3.21	3.93	4.34	3.80	2.31
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	2,217	2,099	2,209	2,345	2,633	2,913	2,643	2,421	3,170	4,019	4,341	4,594	4,691
	1,987	1,789	1,816	1,930	2,169	2,403	2,212	1,987	2,410	3,224	3,617	3,828	3,914
Operating Profit	229	309	393	415	464	510	431	435	761	795	724	766	776
OPM %	10%	15%	18%	18%	18%	18%	16%	18%	24%	20%	17%	17%	17%
	4	13	3	31	23	24	23	46	31	33	32	66	73
Interest	163	160	144	144	124	135	146	143	121	105	136	128	155
Depreciation	143	112	110	79	95	119	137	132	160	160	177	192	213
Profit before tax	-72	51	142	223	269	280	171	205	511	563	443	513	481
Tax %	-31%	26%	42%	33%	35%	33%	11%	36%	33%	36%	27%	28%
	-48	40	85	150	176	188	151	131	343	362	325	367	345
EPS in Rs	-1.92	1.73	3.58	6.15	7.30	7.82	6.32	5.47	14.18	15.01	13.49	15.27	14.38
Dividend Payout %	0%	0%	17%	16%	21%	13%	16%	18%	14%	13%	15%	13%

Compounded Sales Growth
10 Years:	8%
5 Years:	12%
3 Years:	13%
TTM:	7%

Compounded Profit Growth
10 Years:	25%
5 Years:	18%
3 Years:	1%
TTM:	8%

Stock Price CAGR
10 Years:	17%
5 Years:	36%
3 Years:	12%
1 Year:	27%

Return on Equity
10 Years:	16%
5 Years:	16%
3 Years:	15%
Last Year:	14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	24	24	24	24	24	24	24	24	24	24	24	24
Reserves	217	257	330	902	1,051	1,191	1,278	1,415	1,738	2,050	2,329	2,645
	1,395	1,419	1,319	1,221	1,373	1,643	1,762	1,566	1,238	1,401	1,968	2,696
	677	560	598	682	833	831	799	768	776	1,104	1,179	1,425
Total Liabilities	2,313	2,260	2,272	2,830	3,281	3,689	3,863	3,773	3,777	4,580	5,500	6,790
	1,177	1,143	1,134	1,588	1,907	1,956	2,035	2,221	2,323	2,395	2,616	4,045
CWIP	43	41	65	85	114	453	489	262	91	235	826	562
Investments	14	16	19	27	42	48	55	69	85	112	85	50
	1,079	1,060	1,054	1,129	1,218	1,232	1,284	1,222	1,278	1,839	1,972	2,133
Total Assets	2,313	2,260	2,272	2,830	3,281	3,689	3,863	3,773	3,777	4,580	5,500	6,790

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	10	50	230	418	449	424	293	516	586	402	653	720
	-92	-69	-124	-190	-448	-512	-214	-84	-79	-320	-924	-1,191
	47	24	-100	-249	-1	91	-93	-382	-479	-52	330	458
Net Cash Flow	-35	4	7	-21	1	3	-14	51	28	29	59	-13

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	55	46	44	38	45	34	36	40	28	31	30	35
Inventory Days	255	250	236	252	240	273	310	284	285	271	221	243
Days Payable	253	139	132	161	230	252	248	277	246	225	190	219
Cash Conversion Cycle	56	158	148	129	56	55	98	47	67	77	61	60
Working Capital Days	-125	-19	-28	2	-17	-31	-35	-31	7	1	-11	-1
ROCE %	6%	12%	17%	19%	17%	16%	11%	11%	21%	21%	15%	13%

Shareholding Pattern

Numbers in percentages

4 Recently

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	54.23%	54.23%	54.24%	54.24%	54.23%	54.22%	54.22%	54.22%	54.22%	54.22%	54.19%	54.09%
	3.29%	3.78%	3.79%	3.62%	3.68%	3.71%	3.94%	3.94%	4.01%	4.19%	4.15%	3.74%
	1.66%	1.68%	1.73%	1.72%	1.83%	1.91%	1.44%	1.47%	1.55%	1.62%	1.63%	1.78%
	40.81%	40.31%	40.24%	40.42%	40.26%	40.15%	40.37%	40.34%	40.20%	39.96%	40.01%	40.40%
No. of Shareholders	57,158	58,713	58,716	61,232	62,825	59,970	63,465	60,227	62,836	63,200	65,564	63,611

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	54.31%	54.27%	54.28%	54.27%	54.27%	54.24%	54.24%	54.22%	54.19%	54.09%
	1.25%	1.13%	1.10%	1.18%	1.14%	1.47%	3.79%	3.94%	4.15%	3.74%
	1.19%	1.33%	1.52%	1.44%	0.81%	1.55%	1.73%	1.44%	1.63%	1.78%
	0.00%	0.00%	0.00%	0.00%	0.38%	0.38%	0.00%	0.00%	0.00%	0.00%
	43.25%	43.27%	43.10%	43.11%	43.40%	42.36%	40.24%	40.37%	40.01%	40.40%
No. of Shareholders	49,430	49,650	47,273	47,899	40,271	51,945	58,716	63,465	65,564	63,611

* 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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