Asahi India Glass Ltd

₹ 773 -2.27%

11 Dec 3:59 p.m.

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 ₹ 18,798 Cr.
Current Price ₹ 773
High / Low ₹ 834 / 502
Stock P/E 61.2
Book Value ₹ 102
Dividend Yield 0.26 %
ROCE 15.0 %
ROE 14.7 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 7.59 times its book value
Company might be capitalizing the interest cost

* 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

Part of BSE 400 MidSmallCap Index Nifty 500 Multicap 50:25:25 Nifty Smallcap 250 BSE 250 SmallCap Index Nifty MidSmallcap 400 Nifty500 Multicap India Manufacturing 50:30:20 Nifty Total Market Nifty500 Multicap Infrastructure 50:30:20 BSE Consumer Discretionary Nifty 500 BSE SmallCap BSE 500 BSE Allcap

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	797	829	944	923	1,014	1,010	1,072	1,089	1,120	1,044	1,105	1,133	1,158
	610	614	701	702	799	821	902	880	934	880	927	951	945
Operating Profit	187	216	243	221	215	188	170	209	186	163	178	181	213
OPM %	23%	26%	26%	24%	21%	19%	16%	19%	17%	16%	16%	16%	18%
	7	7	11	8	9	7	9	7	8	2	2	5	7
Interest	32	28	28	26	26	27	26	34	34	34	33	32	31
Depreciation	40	43	40	40	40	39	41	41	43	46	48	47	48
Profit before tax	122	151	186	163	159	129	112	141	117	85	100	107	141
Tax %	34%	34%	32%	35%	34%	36%	39%	27%	26%	26%	27%	28%	33%
	81	100	128	106	104	83	68	103	86	63	73	77	95
EPS in Rs	3.34	4.12	5.27	4.40	4.33	3.45	2.84	4.27	3.57	2.61	3.04	3.21	3.93
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,944	2,217	2,099	2,209	2,345	2,633	2,913	2,643	2,421	3,170	4,019	4,341	4,439
	1,777	1,987	1,789	1,816	1,930	2,169	2,403	2,212	1,987	2,410	3,224	3,617	3,703
Operating Profit	167	229	309	393	415	464	510	431	435	761	795	724	736
OPM %	9%	10%	15%	18%	18%	18%	18%	16%	18%	24%	20%	17%	17%
	10	4	13	3	31	23	24	23	46	31	33	32	16
Interest	170	163	160	144	144	124	135	146	143	121	105	136	131
Depreciation	154	143	112	110	79	95	119	137	132	160	160	177	187
Profit before tax	-147	-72	51	142	223	269	280	171	205	511	563	443	434
Tax %	-33%	-31%	26%	42%	33%	35%	33%	11%	36%	33%	36%	27%
	-99	-48	40	85	150	176	188	151	131	343	362	325	307
EPS in Rs	-4.01	-1.92	1.73	3.58	6.15	7.30	7.82	6.32	5.47	14.18	15.01	13.49	12.79
Dividend Payout %	-0%	-0%	-0%	17%	16%	21%	13%	16%	18%	14%	13%	15%

Compounded Sales Growth
10 Years:	7%
5 Years:	8%
3 Years:	21%
TTM:	3%

Compounded Profit Growth
10 Years:	25%
5 Years:	12%
3 Years:	38%
TTM:	-10%

Stock Price CAGR
10 Years:	21%
5 Years:	31%
3 Years:	18%
1 Year:	39%

Return on Equity
10 Years:	16%
5 Years:	15%
3 Years:	18%
Last Year:	15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	16	24	24	24	24	24	24	24	24	24	24	24	24
Reserves	74	217	257	330	902	1,051	1,191	1,278	1,415	1,738	2,050	2,329	2,452
	1,546	1,395	1,419	1,319	1,221	1,373	1,643	1,762	1,566	1,238	1,401	1,968	2,339
	699	677	560	598	682	833	831	799	768	776	1,104	1,179	1,204
Total Liabilities	2,335	2,313	2,260	2,272	2,830	3,281	3,689	3,863	3,773	3,777	4,580	5,500	6,019
	1,237	1,177	1,143	1,134	1,588	1,907	1,956	2,035	2,221	2,323	2,395	2,616	2,562
CWIP	33	43	41	65	85	114	453	489	262	91	235	826	1,384
Investments	13	14	16	19	27	42	48	55	69	85	112	85	87
	1,052	1,079	1,060	1,054	1,129	1,218	1,232	1,284	1,222	1,278	1,839	1,972	1,986
Total Assets	2,335	2,313	2,260	2,272	2,830	3,281	3,689	3,863	3,773	3,777	4,580	5,500	6,019

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	111	10	50	230	418	449	424	293	516	586	402	653
	-83	-92	-69	-124	-190	-448	-512	-214	-84	-79	-320	-924
	17	47	24	-100	-249	-1	91	-93	-382	-479	-52	330
Net Cash Flow	45	-35	4	7	-21	1	3	-14	51	28	29	59

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	57	55	46	44	38	45	34	36	40	28	31	30
Inventory Days	270	255	250	236	252	240	273	310	284	285	271	221
Days Payable	290	253	139	132	161	230	252	248	277	246	225	190
Cash Conversion Cycle	38	56	158	148	129	56	55	98	47	67	77	61
Working Capital Days	4	-10	36	35	44	33	9	4	49	46	56	40
ROCE %	1%	6%	12%	17%	19%	17%	16%	11%	11%	21%	21%	15%

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	54.24%	54.24%	54.24%	54.23%	54.23%	54.24%	54.24%	54.23%	54.22%	54.22%	54.22%	54.22%
	1.48%	1.47%	1.63%	3.29%	3.78%	3.79%	3.62%	3.68%	3.71%	3.94%	3.94%	4.01%
	1.53%	1.55%	1.83%	1.66%	1.68%	1.73%	1.72%	1.83%	1.91%	1.44%	1.47%	1.55%
	0.38%	0.38%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	42.37%	42.36%	41.93%	40.81%	40.31%	40.24%	40.42%	40.26%	40.15%	40.37%	40.34%	40.20%
No. of Shareholders	46,957	51,945	53,158	57,158	58,713	58,716	61,232	62,825	59,970	63,465	60,227	62,836

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	54.31%	54.27%	54.28%	54.27%	54.27%	54.24%	54.24%	54.22%	54.22%
	1.25%	1.13%	1.10%	1.18%	1.14%	1.47%	3.79%	3.94%	4.01%
	1.19%	1.33%	1.52%	1.44%	0.81%	1.55%	1.73%	1.44%	1.55%
	0.00%	0.00%	0.00%	0.00%	0.38%	0.38%	0.00%	0.00%	0.00%
	43.25%	43.27%	43.10%	43.11%	43.40%	42.36%	40.24%	40.37%	40.20%
No. of Shareholders	49,430	49,650	47,273	47,899	40,271	51,945	58,716	63,465	62,836

* 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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