Asahi India Glass Ltd.

•

aisglass.comBSE: 515030NSE: ASAHIINDIA

Market Cap₹ 25,114 Cr.

Current Price

High / Low₹ 1,074 / 775

Stock P/E57.4

Book Value₹ 160

Price to Book5.09

Dividend Yield0.20 %

ROCE11.8 %

ROE10.5 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Automotive Glass: 67.6% • Float Glass: 25.3% • Unallocable: 7.0%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Company has delivered good profit growth of 21.4% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 172.1% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.81x)
Company has delivered good sales growth of 15.5% CAGR over last 5 years

CONS

Promoter holding has decreased over last 2 years: -2.7pp
Free cash flow has been persistently negative
Working capital days have increased from 12 to 51 days
Recurring exceptional / one-off items are inflating headline profit
Stock is trading at 5.1x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsConstruction MaterialsGlass

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	ASAHIINDIA	985.15	57.39	25114.15	0.20	149.08	172.09	1413.39	15.99	11.84	22.96
2.	BORORENEW	495.95	19.08	7299.58	0.00	86.64	142.58	405.69	17.06	10.72	31.50
3.	LAOPALA	159.10	18.96	1766.01	3.14	262.00	933.33	713.58	993.36	15.06	36.33
4.	BOROSCI	125.10	25.79	1112.78	0.00	4.35	203.44	106.75	11.22	10.63	7.92
5.	SEJALLTD	645.65	23.36	736.04	0.00	7.22	63.41	117.95	52.88	22.56	13.71
6.	BANARBEADS	109.10	38.23	71.98	0.00	0.72	18.03	9.06	45.86	5.70	15.07

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	1,078	1,117	1,037	1,088	1,125	1,154	1,125	1,148	1,219	1,142	1,220	1,325	1,413
	880	934	880	925	951	945	949	983	1,036	963	1,005	1,067	1,216
Operating Profit	199	183	157	163	174	208	176	165	182	179	215	258	197
OPM %	18.42%	16.37%	15.11%	14.99%	15.45%	18.06%	15.68%	14.35%	14.95%	15.65%	17.62%	19.48%	13.95%
	2	3	2	2	3	6	46	9	11	11	-2	9	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
Profit before Tax	136	111	85	102	106	139	141	124	76	71	133	179	203
Tax %	27.78%	27.12%	26.52%	26.44%	28.85%	33.26%	25.45%	26.39%	27.67%	17.49%	25.10%	26.22%	26.43%
Net Profit	0	0	0	0	77	95	105	92	55	58	99	133	149
	4.27	3.57	2.61	3.04	3.21	3.93	4.34	3.80	2.31	2.22	3.90	5.20	5.85

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,345	2,633	2,913	2,643	2,421	3,170	4,019	4,341	4,594	4,982	5,101
	1,930	2,169	2,403	2,212	1,987	2,410	3,224	3,619	3,828	4,072	4,252
Operating Profit	415	464	510	431	435	761	795	722	766	910	849
OPM %	17.70%	17.61%	17.52%	16.31%	17.95%	23.99%	19.78%	16.63%	16.67%	18.27%	16.64%
	27	19	16	13	36	19	16	25	64	37	24
Interest	144	124	135	146	143	121	105	136	128	204	191
Depreciation	79	95	119	137	132	160	160	177	192	285	298
Profit before Tax	223	269	280	171	205	511	563	443	513	459	586
Tax %	32.77%	34.61%	32.85%	11.39%	36.22%	32.89%	35.80%	26.55%	28.37%	24.79%	24.99%
Net Profit	150	176	188	151	131	343	362	325	367	345	439
EPS	6.15	7.30	7.82	6.32	5.47	14.18	15.01	13.49	15.27	13.52	—
Dividend Payout %	16.25%	20.56%	12.78%	15.81%	18.27%	14.10%	13.32%	14.82%	13.10%	14.79%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 16%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: 15%
5 Years:: 21%
3 Years:: -2%

STOCK PRICE CAGR

10 Years:: 18%
5 Years:: 21%
3 Years:: 20%
1 Year:: 14%

RETURN ON EQUITY

10 Years:: 16%
5 Years:: 16%
3 Years:: 13%
Last Year:: 10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	24	24	24	24	24	24	24	24	24	25
Minority Interest	-8	-9	-11	-14	-16	-18	-21	-23	-27	2
	902	1,051	1,191	1,278	1,415	1,738	2,050	2,329	2,645	3,907
	1,323	1,469	1,607	1,781	1,556	1,257	1,416	1,606	2,354	2,121
Trade Payables	373	587	638	578	639	618	852	855	1,005	891
	81	58	167	129	103	158	259	708	788	825
Total Liabilities	2,696	3,180	3,617	3,776	3,722	3,777	4,580	5,500	6,790	7,772
	1,519	1,903	1,953	2,034	2,219	2,322	2,394	2,615	4,045	4,532
Capital Work in Progress	85	114	453	489	262	91	235	826	562	445
	27	42	48	55	69	85	112	85	50	78
	584	614	691	722	654	716	1,028	994	1,119	1,227
	0	0	0	0	0	0	0	354	442	509
Cash & Bank	16	17	22	14	58	88	118	179	165	245
	465	489	451	462	460	475	694	447	408	737
Total Assets	2,696	3,180	3,617	3,776	3,722	3,777	4,580	5,500	6,790	7,772

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	491	541	515	311	592	755	603	653	720	502
Cash from Investing	-190	-448	-512	-214	-84	-79	-320	-924	-1,191	-665
Cash from Financing	-249	-1	91	-93	-382	-479	-52	330	458	245
	-21	1	3	-14	51	28	29	59	-13	82

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.23	54.23	54.23	54.20	54.09	51.57	51.57	51.57	51.57
	3.94	4.01	4.19	4.15	3.74	4.87	4.88	4.85	4.85
	1.47	1.55	1.62	1.63	1.78	5.16	5.25	5.35	5.26
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	40.35	40.21	39.96	40.01	40.40	38.39	38.30	38.23	38.31

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-28

Copy of Newspaper Publication

2026-08-28 - Asahi India Glass Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-28

General Updates

2026-08-28 - Asahi India Glass Limited has informed the Exchange about Communication sent to Shareholders.

2026-08-27

General Updates

2026-08-27 - BRSR FY 2025-26

2026-08-27

Shareholders meeting

2026-08-27 - Asahi India Glass Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 18, 2026

2026-08-20

General Updates

2026-08-20 - Asahi India Glass Limited has informed the Exchange about the Communication sent to Shareholders regarding the transfer of Equity Shares and unclaimed dividend to Investor Education and Protection Fund

2026-08-20

Copy of Newspaper Publication

2026-08-20 - Asahi India Glass Limited has informed the Exchange about Publication of Notice regarding the transfer of Equity Shares and unclaimed dividend to Investor Education and Protection Fund

2026-08-19

General Updates

2026-08-19 - Asahi India Glass Limited has informed the Exchange about the Communication sent to shareholders of the Company regarding deduction of tax at source (TDS) on payment of Final Dividend for FY 2025-26.

2026-08-06

Copy of Newspaper Publication

2026-08-06 - Asahi India Glass Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-05

Record Date

2026-08-05 - Asahi India Glass Limited has informed the Exchange that Record date for the purpose of Dividend is 11-Sep-2026.

News

Recent coverage and analyst commentary for ASAHIINDIA

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Asahi India Glass Ltd.

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Name

ASAHIINDIA

985.15

57.39

25114.15

0.20

149.08

172.09

1413.39

15.99

11.84

22.96

BORORENEW

495.95

19.08

7299.58

0.00

86.64

142.58

405.69

17.06

10.72

31.50

LAOPALA

159.10

18.96

1766.01

3.14

262.00

933.33

713.58

993.36

15.06

36.33

BOROSCI

125.10

25.79

1112.78

0.00

4.35

203.44

106.75

11.22

10.63

7.92

SEJALLTD

645.65

23.36

736.04

0.00

7.22

63.41

117.95

52.88

22.56

13.71

BANARBEADS

109.10

38.23

71.98

0.00

0.72

18.03

9.06

45.86

5.70

15.07

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

1,078

1,117

1,037

1,088

1,125

1,154

1,125

1,148

1,219

1,142

1,220

1,325

1,413

880

934

880

925

951

945

949

983

1,036

963

1,005

1,067

1,216

Operating Profit

199

183

157

163

174

208

176

165

182

179

215

258

197

OPM %

18.42%

16.37%

15.11%

14.99%

15.45%

18.06%

15.68%

14.35%

14.95%

15.65%

17.62%

19.48%

13.95%

-2

Interest

Depreciation

Profit before Tax

136

111

102

106

139

141

124

133

179

203

Tax %

27.78%

27.12%

26.52%

26.44%

28.85%

33.26%

25.45%

26.39%

27.67%

17.49%

25.10%

26.22%

26.43%

Net Profit

105

133

149

4.27

3.57

2.61

3.04

3.21

3.93

4.34

3.80

2.31

2.22

3.90

5.20

5.85

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

2,345

2,633

2,913

2,643

2,421

3,170

4,019

4,341

4,594

4,982

5,101

1,930

2,169

2,403

2,212

1,987

2,410

3,224

3,619

3,828

4,072

4,252

Operating Profit

415

464

510

431

435

761

795

722

766

910

849

OPM %

17.70%

17.61%

17.52%

16.31%

17.95%

23.99%

19.78%

16.63%

16.67%

18.27%

16.64%

Interest

144

124

135

146

143

121

105

136

128

204

191

Depreciation

119

137

132

160

177

192

285

298

Profit before Tax

223

269

280

171

205

511

563

443

513

459

586

Tax %

32.77%

34.61%

32.85%

11.39%

36.22%

32.89%

35.80%

26.55%

28.37%

24.79%

24.99%

Net Profit

150

176

188

151

131

343

362

325

367

345

439

EPS

6.15

7.30

7.82

6.32

5.47

14.18

15.01

13.49

15.27

13.52

—

Dividend Payout %

16.25%

20.56%

12.78%

15.81%

18.27%

14.10%

13.32%

14.82%

13.10%

14.79%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

Minority Interest

-8

-9

-11

-14

-16

-18

-21

-23

-27

902

1,051

1,191

1,278

1,415

1,738

2,050

2,329

2,645

3,907

1,323

1,469

1,607

1,781

1,556

1,257

1,416

1,606

2,354

2,121

Trade Payables

373

587

638

578

639

618

852

855

1,005

891

167

129

103

158

259

708

788

825

Total Liabilities

2,696

3,180

3,617

3,776

3,722

3,777

4,580

5,500

6,790

7,772

1,519

1,903

1,953

2,034

2,219

2,322

2,394

2,615

4,045

4,532

Capital Work in Progress

114

453

489

262

235

826

562

445

112

584

614

691

722

654

716

1,028

994

1,119

1,227

354

442

509

Cash & Bank

118

179

165

245

465

489

451

462

460

475

694

447

408

737

Total Assets

2,696

3,180

3,617

3,776

3,722

3,777

4,580

5,500

6,790

7,772

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

491

541

515

311

592

755

603

653

720

502

Cash from Investing

-190

-448

-512

-214

-84

-79

-320

-924

-1,191

-665

Cash from Financing

-249

-1

-93

-382

-479

-52

330

458

245

-21

-14

-13

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

54.23

54.20

54.09

51.57

3.94

4.01

4.19

4.15

3.74

4.87

4.88

4.85

1.47

1.55

1.62

1.63

1.78

5.16

5.25

5.35

5.26

Government

0.00

40.35

40.21

39.96

40.01

40.40

38.39

38.30

38.23

38.31

Asahi India Glass Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Asahi India Glass Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI