Asahi India Glass Ltd

Asahi India Glass Ltd

₹ 731 -2.62%
03 Jun - close price
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]

  • 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
926 904 994 987 1,033 1,053 1,081 999 1,030 1,063 1,089 1,054 1,106
681 681 775 794 860 842 895 835 856 892 885 888 917
Operating Profit 245 223 219 193 173 211 186 164 173 171 204 166 189
OPM % 26% 25% 22% 20% 17% 20% 17% 16% 17% 16% 19% 16% 17%
9 5 6 5 6 3 4 3 4 5 7 71 9
Interest 27 25 25 26 25 33 33 33 31 31 30 30 32
Depreciation 38 39 38 38 39 38 40 42 44 42 43 43 44
Profit before tax 189 164 162 134 116 143 116 92 102 103 138 164 123
Tax % 32% 35% 35% 36% 40% 26% 27% 26% 26% 26% 33% 21% 26%
129 107 106 86 70 106 85 68 76 76 93 129 91
EPS in Rs 5.31 4.40 4.35 3.52 2.86 4.36 3.50 2.81 3.13 3.15 3.81 5.29 3.76
Raw PDF

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%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
54.24% 54.23% 54.23% 54.24% 54.24% 54.23% 54.22% 54.22% 54.22% 54.22% 54.22% 54.19%
1.63% 3.29% 3.78% 3.79% 3.62% 3.68% 3.71% 3.94% 3.94% 4.01% 4.19% 4.15%
1.83% 1.66% 1.68% 1.73% 1.72% 1.83% 1.91% 1.44% 1.47% 1.55% 1.62% 1.63%
0.38% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
41.93% 40.81% 40.31% 40.24% 40.42% 40.26% 40.15% 40.37% 40.34% 40.20% 39.96% 40.01%
No. of Shareholders 53,15857,15858,71358,71661,23262,82559,97063,46560,22762,83663,20065,564

* 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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