Asahi India Glass Ltd
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]
- Market Cap ₹ 17,785 Cr.
- Current Price ₹ 731
- High / Low ₹ 834 / 540
- Stock P/E 51.2
- Book Value ₹ 113
- Dividend Yield 0.27 %
- ROCE 12.2 %
- ROE 13.5 %
- Face Value ₹ 1.00
Pros
Cons
- The company has delivered a poor sales growth of 10.6% over past five years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 13.4% 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
2,143 | 2,057 | 2,168 | 2,307 | 2,590 | 2,859 | 2,599 | 2,380 | 3,110 | 3,918 | 4,146 | 4,312 | |
1,912 | 1,740 | 1,765 | 1,879 | 2,114 | 2,338 | 2,155 | 1,937 | 2,342 | 3,110 | 3,426 | 3,582 | |
Operating Profit | 231 | 317 | 403 | 428 | 476 | 520 | 445 | 444 | 768 | 808 | 720 | 730 |
OPM % | 11% | 15% | 19% | 19% | 18% | 18% | 17% | 19% | 25% | 21% | 17% | 17% |
6 | 13 | 4 | 28 | 21 | 18 | 15 | 40 | 24 | 21 | 29 | 92 | |
Interest | 162 | 159 | 143 | 144 | 123 | 135 | 144 | 138 | 118 | 101 | 131 | 122 |
Depreciation | 137 | 107 | 105 | 76 | 92 | 115 | 132 | 127 | 155 | 154 | 165 | 172 |
Profit before tax | -63 | 64 | 158 | 237 | 282 | 288 | 184 | 218 | 519 | 575 | 454 | 527 |
Tax % | -36% | 21% | 38% | 37% | 34% | 34% | 13% | 36% | 33% | 36% | 26% | 26% |
-40 | 50 | 97 | 148 | 185 | 190 | 160 | 139 | 348 | 368 | 336 | 389 | |
EPS in Rs | -1.65 | 2.07 | 4.00 | 6.09 | 7.62 | 7.82 | 6.58 | 5.71 | 14.30 | 15.13 | 13.80 | 16.01 |
Dividend Payout % | 0% | 0% | 15% | 16% | 20% | 13% | 15% | 18% | 14% | 13% | 14% | 12% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 11% |
3 Years: | 12% |
TTM: | 4% |
Compounded Profit Growth | |
---|---|
10 Years: | 22% |
5 Years: | 17% |
3 Years: | 1% |
TTM: | 3% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 33% |
3 Years: | 17% |
1 Year: | 23% |
Return on Equity | |
---|---|
10 Years: | 16% |
5 Years: | 15% |
3 Years: | 15% |
Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
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 | 238 | 287 | 370 | 929 | 1,085 | 1,225 | 1,319 | 1,462 | 1,788 | 2,103 | 2,389 | 2,723 |
1,395 | 1,418 | 1,316 | 1,219 | 1,370 | 1,635 | 1,739 | 1,523 | 1,205 | 1,350 | 1,902 | 2,631 | |
667 | 553 | 591 | 675 | 828 | 825 | 785 | 767 | 810 | 1,131 | 1,202 | 1,447 | |
Total Liabilities | 2,324 | 2,281 | 2,301 | 2,846 | 3,308 | 3,710 | 3,867 | 3,776 | 3,828 | 4,608 | 5,517 | 6,825 |
1,127 | 1,097 | 1,092 | 1,536 | 1,857 | 1,907 | 1,971 | 2,161 | 2,263 | 2,256 | 2,383 | 3,794 | |
CWIP | 43 | 41 | 64 | 85 | 113 | 448 | 488 | 262 | 89 | 227 | 813 | 552 |
Investments | 16 | 16 | 16 | 36 | 46 | 45 | 42 | 47 | 52 | 114 | 244 | 230 |
1,138 | 1,127 | 1,129 | 1,189 | 1,292 | 1,309 | 1,365 | 1,307 | 1,425 | 2,011 | 2,077 | 2,249 | |
Total Assets | 2,324 | 2,281 | 2,301 | 2,846 | 3,308 | 3,710 | 3,867 | 3,776 | 3,828 | 4,608 | 5,517 | 6,825 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
8 | 48 | 230 | 428 | 442 | 416 | 292 | 517 | 566 | 377 | 656 | 664 | |
-90 | -68 | -121 | -201 | -440 | -499 | -194 | -83 | -78 | -294 | -979 | -1,168 | |
48 | 23 | -101 | -249 | -0 | 86 | -105 | -391 | -460 | -55 | 344 | 475 | |
Net Cash Flow | -34 | 3 | 7 | -22 | 1 | 3 | -7 | 44 | 28 | 28 | 21 | -28 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
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 | 69 | 61 | 59 | 52 | 60 | 49 | 52 | 59 | 45 | 46 | 45 | 53 |
Inventory Days | 250 | 248 | 233 | 247 | 236 | 269 | 305 | 277 | 279 | 270 | 218 | 240 |
Days Payable | 252 | 138 | 130 | 160 | 231 | 253 | 250 | 278 | 247 | 225 | 196 | 225 |
Cash Conversion Cycle | 67 | 171 | 163 | 139 | 65 | 65 | 107 | 58 | 76 | 91 | 68 | 68 |
Working Capital Days | 3 | 52 | 51 | 61 | 49 | 25 | 23 | 71 | 67 | 78 | 60 | 68 |
ROCE % | 6% | 13% | 18% | 19% | 17% | 16% | 11% | 11% | 21% | 21% | 15% | 12% |
Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
30 May - Annual Secretarial Compliance Report; non-compliance on independent director resolved with fines paid.
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Spurt In Volume
30 May - Company clarifies no undisclosed info; volume rise due to intra-day trading activity.
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Clarification sought from Asahi India Glass Ltd
30 May - Exchange has sought clarification from Asahi India Glass Ltd on May 30, 2025, with reference to Movement in Volume.
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 28 May
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 27 May
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from nse
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Financial Year 2011
from bse
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]