Asahi India Glass logo

Asahi India Glass

ASAHIINDIA NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹24,205 Cr
Volatility
Moderate
P/E Ratio
54.99
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 6.12 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

5d ago
AI opinion · based on fundamentals
Risk medium

Asahi India Glass has a market capitalisation of about ₹24,528 Cr. It trades at a P/E of 56x and 6.26x book value, with a dividend yield of 0.21%. TTM profit growth of 37% and sales growth of 10% mark a recovery after a 3-year profit CAGR of -2%. Return on equity has fallen to 10% last year from a 10-year average of 15%.

Bull Case 8
  • TTM compounded profit growth of 37% points to a sharp earnings recovery after a flat-to-negative 3-year period (-2% CAGR).
  • 5-year compounded profit growth of 22% outpaced 5-year sales growth of 16%. This suggests operating leverage and margin gains over the longer cycle.
  • 5-year sales CAGR of 16% is double the 10-year sales CAGR of 8%, which suggests the business has grown faster in recent years.
  • TTM sales growth of 10% is faster than the 3-year sales CAGR of 7%, so top-line momentum may be improving.
  • 10-year profit CAGR of 14% shows the company has compounded earnings steadily across multiple auto and construction cycles.
  • The stock has delivered 22% CAGR over 5 years and 17% over 10 years, a long record of shareholder wealth creation.
  • 5-year and 10-year average ROE of 15% shows the business can earn mid-teen returns when utilisation and margins normalise, above the recent 10% level.
  • The ₹24,528 Cr market cap reflects a sizeable position in automotive and architectural glass, giving it scale in a specialised segment with high entry barriers.
Bear Case 8
  • A P/E of 56x means an earnings yield of about 1.8%. The valuation already assumes sustained high growth, which leaves little room for error.
  • The stock trades at 6.26x book value, a steep premium given that ROE was only 10% last year.
  • ROE has fallen to 10% last year and 12% over 3 years, from 15% over 5 and 10 years, which points to weaker capital efficiency.
  • The 3-year compounded profit CAGR of -2% shows earnings stagnated over that period. The 37% TTM rebound comes partly off a low base.
  • The 3-year sales CAGR of 7% is well below the 5-year figure of 16%, so recent top-line growth has slowed.
  • The dividend yield is 0.21% and the 3-year payout ratio is only 14.2%, so shareholders get little income.
  • The 1-year stock return of 6% lags the 3-year (16%) and 5-year (22%) CAGRs, which suggests price momentum is slowing at a high valuation.
  • The 10-year sales CAGR of 8% is modest. This shows exposure to cyclical auto and real-estate demand, which can squeeze a 56x multiple in a downturn.

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

AI News Digest

23h ago
Neutral 1
  • 41st AGM: ₹2 dividend approved Sep 18

    Asahi India Glass held its 41st AGM, where shareholders approved a final dividend of ₹2 per share for FY26. Shareholders also ratified material related-party transactions with Maruti Suzuki and AGC Asia Pacific.

TL;DR: The only news item is a routine AGM. Shareholders approved a ₹2 final dividend for FY26 and ratified material related-party transactions with Maruti Suzuki and AGC Asia Pacific, two of the company's key commercial and promoter partners. The article has no information on earnings, demand or costs, so it doesn't show whether the trend is improving or getting worse. The next things to watch are quarterly results and auto-sector volume trends, particularly passenger vehicle demand from Maruti Suzuki.

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

Log in to view Asahi India Glass insights

61 extracted metrics + investor summaries across FY12–FY27.

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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 ₹24,205 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 54.99, 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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