Asahi India Glass Ltd

₹ 654 1.88%

15 Jan 2:06 p.m.

aisglass.com BSE: 515030 NSE: ASAHIINDIA

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]

Website BSE NSE

Market Cap ₹ 15,907 Cr.
Current Price ₹ 654
High / Low ₹ 834 / 502
Stock P/E 50.8
Book Value ₹ 104
Dividend Yield 0.30 %
ROCE 15.0 %
ROE 14.8 %
Face Value ₹ 1.00

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Pros

Cons

* 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.

Peer comparison

Sector: Glass & Glass Products Industry: Glass & Glass Products

Part of BSE 400 MidSmallCap Index BSE 250 SmallCap Index Nifty500 Multicap Infrastructure 50:30:20 BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Consumer Discretionary Nifty Total Market Nifty500 Multicap India Manufacturing 50:30:20 Nifty MidSmallcap 400 Nifty 500 Multicap 50:25:25 Nifty Smallcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	781	812	926	904	994	987	1,033	1,053	1,081	999	1,030	1,063	1,089
	593	595	681	681	775	794	860	842	895	835	856	892	885
Operating Profit	189	217	245	223	219	193	173	211	186	164	173	171	204
OPM %	24%	27%	26%	25%	22%	20%	17%	20%	17%	16%	17%	16%	19%
	5	5	9	5	6	5	6	3	4	3	4	5	7
Interest	31	28	27	25	25	26	25	33	33	33	31	31	30
Depreciation	39	42	38	39	38	38	39	38	40	42	44	42	43
Profit before tax	124	152	189	164	162	134	116	143	116	92	102	103	138
Tax %	34%	34%	32%	35%	35%	36%	40%	26%	27%	26%	26%	26%	33%
	81	100	129	107	106	86	70	106	85	68	76	76	93
EPS in Rs	3.34	4.12	5.31	4.40	4.35	3.52	2.86	4.36	3.50	2.81	3.13	3.15	3.81
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,913	2,143	2,057	2,168	2,307	2,590	2,859	2,599	2,380	3,110	3,918	4,146	4,180
	1,746	1,912	1,740	1,765	1,879	2,114	2,338	2,155	1,937	2,342	3,110	3,426	3,468
Operating Profit	167	231	317	403	428	476	520	445	444	768	808	720	712
OPM %	9%	11%	15%	19%	19%	18%	18%	17%	19%	25%	21%	17%	17%
	11	6	13	4	28	21	18	15	40	24	21	29	19
Interest	169	162	159	143	144	123	135	144	138	118	101	131	124
Depreciation	149	137	107	105	76	92	115	132	127	155	154	165	171
Profit before tax	-140	-63	64	158	237	282	288	184	218	519	575	454	436
Tax %	-34%	-36%	21%	38%	37%	34%	34%	13%	36%	33%	36%	26%
	-92	-40	50	97	148	185	190	160	139	348	368	336	313
EPS in Rs	-3.78	-1.65	2.07	4.00	6.09	7.62	7.82	6.58	5.71	14.30	15.13	13.80	12.90
Dividend Payout %	0%	0%	0%	15%	16%	20%	13%	15%	18%	14%	13%	14%

Compounded Sales Growth
10 Years:	7%
5 Years:	8%
3 Years:	20%
TTM:	1%

Compounded Profit Growth
10 Years:	26%
5 Years:	12%
3 Years:	36%
TTM:	-10%

Stock Price CAGR
10 Years:	17%
5 Years:	21%
3 Years:	4%
1 Year:	15%

Return on Equity
10 Years:	16%
5 Years:	15%
3 Years:	18%
Last Year:	15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	16	24	24	24	24	24	24	24	24	24	24	24	24
Reserves	89	238	287	370	929	1,085	1,225	1,319	1,462	1,788	2,103	2,389	2,508
	1,544	1,395	1,418	1,316	1,219	1,370	1,635	1,739	1,523	1,205	1,350	1,902	2,276
	690	667	553	591	675	828	825	785	767	810	1,131	1,202	1,232
Total Liabilities	2,338	2,324	2,281	2,301	2,846	3,308	3,710	3,867	3,776	3,828	4,608	5,517	6,040
	1,181	1,127	1,097	1,092	1,536	1,857	1,907	1,971	2,161	2,263	2,256	2,383	2,319
CWIP	33	43	41	64	85	113	448	488	262	89	227	813	1,378
Investments	16	16	16	16	36	46	45	42	47	52	114	244	243
	1,109	1,138	1,127	1,129	1,189	1,292	1,309	1,365	1,307	1,425	2,011	2,077	2,100
Total Assets	2,338	2,324	2,281	2,301	2,846	3,308	3,710	3,867	3,776	3,828	4,608	5,517	6,040

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	101	8	48	230	428	442	416	292	517	566	377	656
	-81	-90	-68	-121	-201	-440	-499	-194	-83	-78	-294	-979
	24	48	23	-101	-249	-0	86	-105	-391	-460	-55	344
Net Cash Flow	44	-34	3	7	-22	1	3	-7	44	28	28	21

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	70	69	61	59	52	60	49	52	59	45	46	45
Inventory Days	265	250	248	233	247	236	269	305	277	279	270	218
Days Payable	289	252	138	130	160	231	253	250	278	247	225	196
Cash Conversion Cycle	46	67	171	163	139	65	65	107	58	76	91	68
Working Capital Days	15	3	52	51	61	49	25	23	71	67	78	60
ROCE %	2%	6%	13%	18%	19%	17%	16%	11%	11%	21%	21%	15%

Shareholding Pattern

Numbers in percentages

3 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	54.24%	54.24%	54.24%	54.23%	54.23%	54.24%	54.24%	54.23%	54.22%	54.22%	54.22%	54.22%
	1.48%	1.47%	1.63%	3.29%	3.78%	3.79%	3.62%	3.68%	3.71%	3.94%	3.94%	4.01%
	1.53%	1.55%	1.83%	1.66%	1.68%	1.73%	1.72%	1.83%	1.91%	1.44%	1.47%	1.55%
	0.38%	0.38%	0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	42.37%	42.36%	41.93%	40.81%	40.31%	40.24%	40.42%	40.26%	40.15%	40.37%	40.34%	40.20%
No. of Shareholders	46,957	51,945	53,158	57,158	58,713	58,716	61,232	62,825	59,970	63,465	60,227	62,836

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	54.31%	54.27%	54.28%	54.27%	54.27%	54.24%	54.24%	54.22%	54.22%
	1.25%	1.13%	1.10%	1.18%	1.14%	1.47%	3.79%	3.94%	4.01%
	1.19%	1.33%	1.52%	1.44%	0.81%	1.55%	1.73%	1.44%	1.55%
	0.00%	0.00%	0.00%	0.00%	0.38%	0.38%	0.00%	0.00%	0.00%
	43.25%	43.27%	43.10%	43.11%	43.40%	42.36%	40.24%	40.37%	40.20%
No. of Shareholders	49,430	49,650	47,273	47,899	40,271	51,945	58,716	63,465	62,836

* 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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Asahi India Glass Ltd

Asahi India Glass Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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