Asahi India Glass logo

Asahi India Glass

ASAHIINDIA NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹24,908 Cr
Volatility
Moderate
P/E Ratio
57.41
EBITDA
₹959 Cr
Return on Equity
8.77%
Debt to Equity
0.56
Book Value
₹154.24
EPS
₹12.43
52W High
₹1,074
52W Low
₹775.1

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Weaknesses

3
  • Stock is trading at 6.39 times its book value
  • Company has a low return on equity of 12.3% over last 3 years.
  • Dividend payout has been low at 14.2% of profits over last 3 years

Growth Rate

Revenue Growth
8.74% higher than 3Y
Net Income Growth
-6.04% lower than 3Y
Cash Flow Change
-30.32% lower than 3Y
ROE
-36.91% lower than 3Y
ROCE
-17.13% higher than 3Y
EBITDA Margin (Avg.)
10.49% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk high

Asahi India Glass Ltd, with a market cap of ₹24,908 Cr, trades at a P/E of 56.7x and P/B of 6.33x. The company has delivered a 10% TTM sales growth and 37% TTM profit growth, though its 3-year ROE of 12% remains modest relative to its premium valuation.

Bull Case 7
  • Strong TTM profit growth of 37%, indicating a significant earnings recovery and improving profitability trajectory
  • Consistent long-term stock CAGR of 18% over 10 years, reflecting sustained wealth creation for shareholders
  • Robust 5-year compounded profit growth of 22%, demonstrating the company's ability to scale earnings over business cycles
  • Healthy 5-year compounded sales growth of 16%, suggesting strong demand for its glass products across auto and architectural segments
  • 5-year stock CAGR of 21% outpacing broader market returns, indicating consistent re-rating by the market
  • TTM sales growth of 10% shows continued top-line momentum even on a higher base after years of expansion
  • 10-year compounded profit growth of 14% demonstrates durable long-term earnings compounding capability
Bear Case 8
  • P/E ratio of 56.7x is significantly elevated, leaving limited margin of safety if earnings growth decelerates
  • P/B ratio of 6.33x is stretched, meaning the stock trades at a steep premium to its net asset value
  • 3-year ROE of only 12% is low relative to the premium valuation, suggesting capital is not being deployed efficiently enough to justify the price
  • Dividend payout of just 14.2% of profits over the last 3 years offers minimal income return to shareholders
  • Dividend yield of 0.21% is negligible, providing almost no downside cushion from income
  • 3-year compounded profit growth of -2% reveals that the recent 37% TTM surge follows a period of actual earnings decline
  • Last year ROE dropped to 10% from a 5-year average of 15%, indicating deteriorating return efficiency in the most recent period
  • 10-year compounded sales growth of only 8% suggests moderate organic revenue expansion over the long term

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 1
  • ₹2 final dividend recommended Aug 19

    Board recommended ₹2.00 per share final dividend for FY26, payable after AGM approval on September 18, 2026. Signals confidence in cash flow generation.

Neutral 3
  • AGM set for September 18 Aug 27

    41st AGM scheduled for September 18, 2026. Shareholders to approve ₹2 dividend and related-party transactions totaling ₹2,850 crore with key promoters.

  • FY26 annual report released Aug 28

    Asahi India Glass published its 41st integrated annual report for FY26, outlining strategic objectives and value creation approaches.

  • BRSR report filed with exchanges Aug 27

    FY26 Business Responsibility and Sustainability Report submitted covering ESG metrics including energy consumption, waste management, and employee safety data.

TL;DR: A quiet period for Asahi India Glass with routine corporate filings and AGM preparations dominating the news flow. The ₹2 dividend recommendation is a modest positive reflecting steady earnings. No visible headwinds in recent coverage, though the ₹2,850 crore in related-party transactions warrants shareholder scrutiny. With no fresh operational or demand-side catalysts, the near-term outlook hinges on broader auto glass demand trends and any strategic updates at the September 18 AGM.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,089
1,120
1,044
1,105
1,133
1,158
1,124
1,180
1,229
1,151
1,256
1,354
1,413
Expenses
880
934
880
927
951
945
949
983
1,036
963
1,005
1,067
1,089
Operating Profit
209
186
163
178
181
213
175
197
192
188
250
287
325
OPM %
19%
17%
16%
16%
16%
18%
16%
17%
16%
16%
20%
21%
23%
Other Income
7
8
2
2
5
7
46
9
11
11
-2
10
6
Interest
34
34
34
33
32
31
32
33
59
59
43
42
47
Depreciation
41
43
46
48
47
48
49
49
68
69
73
75
81
PBT
141
117
85
100
107
141
140
124
76
71
133
180
203
Tax %
27%
26%
26%
27%
28%
33%
26%
26%
28%
18%
25%
26%
26%
Net Profit
103
86
63
73
77
95
105
92
55
58
99
133
149
EPS in Rs
4.27
3.57
2.61
3.04
3.21
3.93
4.34
3.8
2.31
2.22
3.9
5.2
5.85
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,099
2,209
2,345
2,633
2,913
2,643
2,421
3,170
4,019
4,341
4,594
4,982
5,175
Expenses
1,789
1,816
1,930
2,169
2,403
2,209
1,987
2,410
3,224
3,617
3,828
4,072
4,125
Operating Profit
309
393
415
464
510
435
435
761
795
724
766
910
1,050
OPM %
15%
18%
18%
18%
18%
16%
18%
24%
20%
17%
17%
18%
20%
Other Income
13
3
31
23
24
19
46
31
33
32
67
37
25
Interest
160
144
144
124
135
146
143
121
105
136
128
204
191
Depreciation
112
110
79
95
119
137
132
160
160
177
192
285
298
PBT
51
142
223
269
280
171
205
511
563
443
513
459
586
Tax %
26%
42%
33%
35%
33%
11%
36%
33%
36%
27%
28%
25%
—
Net Profit
40
85
150
176
188
151
131
343
362
325
367
345
439
EPS in Rs
1.73
3.58
6.15
7.3
7.82
6.32
5.47
14.18
15.01
13.49
15.27
13.52
17.17
Div. Payout %
0%
17%
16%
21%
13%
16%
18%
14%
13%
15%
13%
15%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
24
24
24
24
24
24
24
24
24
24
24
25
Reserves
257
330
902
1,051
1,191
1,278
1,415
1,738
2,050
2,329
2,645
3,907
Borrowings
1,419
1,319
1,221
1,373
1,643
1,762
1,566
1,238
1,401
1,968
2,696
2,198
Other Liabilities
560
598
682
833
831
799
768
776
1,104
1,179
1,425
1,642
Total Liabilities
2,260
2,272
2,830
3,281
3,689
3,863
3,773
3,777
4,580
5,500
6,790
7,772
Fixed Assets
1,143
1,134
1,588
1,907
1,956
2,035
2,221
2,323
2,395
2,616
4,046
4,534
CWIP
41
65
85
114
453
489
262
91
235
826
562
445
Investments
16
19
27
42
48
55
69
85
112
85
50
78
Other Assets
1,060
1,054
1,129
1,218
1,232
1,284
1,222
1,278
1,839
1,972
2,132
2,716
Total Assets
2,260
2,272
2,830
3,281
3,689
3,863
3,773
3,777
4,580
5,500
6,790
7,772
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
50
230
418
449
424
293
516
586
402
653
720
502
Investing
-69
-124
-190
-448
-512
-214
-84
-79
-320
-924
-1,191
-665
Financing
24
-100
-249
-1
91
-93
-382
-479
-52
330
458
245
Net Cash Flow
4
7
-21
1
3
-14
51
28
29
59
-13
82
Free Cash Flow
-21
105
232
13
-80
90
433
509
92
-244
-536
-139
CFO/OP
20
74
118
117
101
71
136
99
76
106
113
68
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
46
44
38
45
34
36
40
28
31
30
35
37
Inventory Days
250
236
252
240
273
310
284
285
271
221
243
302
Days Payable
139
132
161
230
252
248
277
246
225
190
219
219
Cash Conversion Cycle
158
148
129
56
55
98
47
67
77
61
60
120
Working Capital Days
-19
-28
2
-17
-31
-35
-31
7
1
-11
-1
33
ROCE %
12%
17%
19%
17%
16%
11%
11%
21%
21%
15%
12%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs4.86%Promot.51.57%DIIs5.26%Others19.05%Public19.26%As ofJun 2026
3.36% of promoter holding pledged as of Jun 2026

Documents

Frequently Asked Questions about Asahi India Glass

What does Asahi India Glass Ltd do?
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 Ud...
Where is Asahi India Glass Ltd (ASAHIINDIA) listed?
Asahi India Glass Ltd trades as ASAHIINDIA on the NSE and under code 515030 on the BSE.
Which sector does Asahi India Glass Ltd belong to?
Asahi India Glass Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the market capitalisation of Asahi India Glass Ltd?
Asahi India Glass Ltd has a market capitalisation of ₹24,908 Cr, which places it in the Large Cap band.
What is the PE ratio of Asahi India Glass Ltd?
Asahi India Glass Ltd trades at a PE ratio of 57.41, on earnings per share of ₹12.43, against a book value of ₹154.24 per share.
What is the 52-week high and low of Asahi India Glass Ltd?
Over the last 52 weeks Asahi India Glass Ltd has traded between ₹775.1 and ₹1,074.
Does Asahi India Glass Ltd pay dividends?
Asahi India Glass Ltd has a dividend yield of 0.21%.
What is the Return on Equity (ROE) of Asahi India Glass Ltd?
Asahi India Glass Ltd reported a return on equity of 8.77%. Its debt-to-equity ratio is 0.56.

Company Information

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]

Website aisglass.com
CEO Mr. Sanjay Mohan Labroo
Employees 2,803
Listed 1998-03-18
Face Value ₹ 1
Issued Size 25,49,27,192

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