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 ₹ 17,831 Cr.
- Current Price ₹ 734
- High / Low ₹ 834 / 577
- Stock P/E 51.3
- 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: | 11% |
1 Year: | 9% |
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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Announcement under Regulation 30 (LODR)-Change in Management
24 Jun - Appointment of Ms. Avanti Birla as Independent Director for five years from June 25, 2025.
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 24 Jun
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 24 Jun
-
Spurt In Volume
20 Jun - Clarification on volume spike; no undisclosed price sensitive info or corporate action.
-
Clarification sought from Asahi India Glass Ltd
20 Jun - Exchange has sought clarification from Asahi India Glass Ltd on June 20, 2025, with reference to Movement in Volume.
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
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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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
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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]