Asahi India Glass Ltd logo

Asahi India Glass Ltd

ASAHIINDIA NSE

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]

AI Verdict: HOLD Confidence: 5%

Asahi India Glass trades at a PE of 63.6x with declining ROE of 11% last year and TTM profit growth of just 3%, making the valuation hard to justify despite strong stock CAGR of 21% over 5 years. The company is a market leader in float glass but current fundamentals do not support aggressive buying at these levels.

Key Fundamentals

Volatility
Moderate
P/E Ratio
65.95
EBITDA
₹822 Cr
Return on Equity
13.95%
Debt to Equity
0.93
EPS
₹12.43
52W High
₹1,074
52W Low
₹688.3

Technical Indicators

Key Insights

Weaknesses

3
  • Stock is trading at 5.56 times its book value
  • Company has a low return on equity of 12.8% over last 3 years.
  • Dividend payout has been low at 9.31% of profits over last 3 years

Growth Rate

Revenue Growth
6.04% ↘
Net Income Growth
-6.05% ↘
Cash Flow Change
10.20% ↗
ROE
-0.36% ↘
ROCE
-14.34% ↘
EBITDA Margin (Avg.)
-3.65% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
HOLD
Risk high

Asahi India Glass trades at a PE of 63.6x with declining ROE of 11% last year and TTM profit growth of just 3%, making the valuation hard to justify despite strong stock CAGR of 21% over 5 years. The company is a market leader in float glass but current fundamentals do not support aggressive buying at these levels.

Bull Case 8
  • Strong 5-year stock CAGR of 21% demonstrates consistent long-term wealth creation for shareholders
  • 5-year compounded sales growth of 16% indicates solid revenue expansion over a meaningful period
  • 5-year compounded profit growth of 23% shows strong earnings trajectory on a longer horizon
  • 10-year compounded profit growth of 15% reflects durable business model with sustained earnings power
  • Market cap of Rs 21,671 Cr provides liquidity and institutional ownership comfort
  • 100% of analysts (1 out of 1) rate the stock a BUY, indicating professional confidence
  • 10-year stock CAGR of 19% significantly outperforms broader market indices over the same period
  • 5-year average ROE of 15% indicates historically decent capital efficiency
Bear Case 8
  • PE ratio of 63.6x is extremely elevated for a glass manufacturing company with single-digit TTM profit growth of 3%
  • Price-to-book of 5.58x is expensive; stock trades at 5.49 times book value with no margin of safety
  • ROE has deteriorated from 15% (5-year average) to just 11% last year, signaling declining capital efficiency
  • 3-year compounded profit growth is negative at -1%, indicating recent earnings stagnation
  • Dividend payout of only 9.31% of profits over 3 years shows poor shareholder return policy with yield of just 0.23%
  • 3-year ROE average of only 12.8% is below cost of equity for a cyclical manufacturing business
  • TTM sales growth has decelerated to 9% from 16% five-year CAGR, suggesting slowing demand momentum
  • Only 1 analyst covers the stock, indicating limited institutional research coverage and potential liquidity risk in downturn

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

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Neutral 1
  • No promoter share encumbrance Jun 12

    Promoter Sanjay Labroo confirmed zero encumbrance on Asahi India Glass Ltd shares as of March 31, 2026, per SEBI disclosure regulations.

TL;DR: Limited recent news flow for Asahi India Glass. The only development is a routine regulatory disclosure confirming no promoter share encumbrance, which signals clean promoter holdings but offers no directional catalyst. With no material headwinds or positive triggers in the news, the near-term outlook depends on broader auto glass demand trends and upcoming quarterly results.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
1,072
1,089
1,120
1,044
1,105
1,133
1,158
1,124
1,180
1,229
1,151
1,256
1,354
Expenses
902
880
934
880
927
951
945
949
983
1,036
963
1,005
1,067
Operating Profit
170
209
186
163
178
181
213
175
197
192
188
250
287
OPM %
16%
19%
17%
16%
16%
16%
18%
16%
17%
16%
16%
20%
21%
Other Income
9
7
8
2
2
5
7
46
9
11
11
-2
10
Interest
26
34
34
34
33
32
31
32
33
59
59
43
42
Depreciation
41
41
43
46
48
47
48
49
49
68
69
73
75
PBT
112
141
117
85
100
107
141
140
124
76
71
133
180
Tax %
39%
27%
26%
26%
27%
28%
33%
26%
26%
28%
18%
25%
26%
Net Profit
68
103
86
63
73
77
95
105
92
55
58
99
133
EPS in Rs
2.84
4.27
3.57
2.61
3.04
3.21
3.93
4.34
3.8
2.31
2.22
3.9
5.2
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
2,099
2,209
2,345
2,633
2,913
2,643
2,421
3,170
4,019
4,341
4,594
4,990
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
Operating Profit
309
393
415
464
510
435
435
761
795
724
766
918
OPM %
15%
18%
18%
18%
18%
16%
18%
24%
20%
17%
17%
18%
Other Income
13
3
31
23
24
19
46
31
33
32
67
29
Interest
160
144
144
124
135
146
143
121
105
136
128
204
Depreciation
112
110
79
95
119
137
132
160
160
177
192
285
PBT
51
142
223
269
280
171
205
511
563
443
513
459
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
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
Div. Payout %
0%
17%
16%
21%
13%
16%
18%
14%
13%
15%
13%
0%
Figures in ₹ Crores

Balance Sheet

  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
4,532
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
2,718
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

  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
67
Figures in ₹ Crores

Ratios

  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%
12%

Shareholding Pattern

As of Mar 2026
Promoters 51.58%
Public 38.23%
DIIs 5.35%
FIIs 4.85%
Total 100.01%
  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
54.24%
54.23%
54.22%
54.22%
54.22%
54.22%
54.22%
54.19%
54.09%
51.58%
51.58%
51.58%
FIIs
3.62%
3.68%
3.71%
3.94%
3.94%
4.01%
4.19%
4.15%
3.74%
4.87%
4.88%
4.85%
DIIs
1.72%
1.83%
1.91%
1.44%
1.47%
1.55%
1.62%
1.63%
1.78%
5.16%
5.25%
5.35%
Public
40.42%
40.26%
40.15%
40.37%
40.34%
40.20%
39.96%
40.01%
40.40%
38.39%
38.30%
38.23%
No. of Shareholders
61,232
62,825
59,970
63,465
60,227
62,836
63,200
65,564
63,611
64,209
66,692
64,539

Documents

Frequently Asked Questions about Asahi India Glass Ltd

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 is listed on the Indian stock exchanges. It is listed on NSE: ASAHIINDIA and BSE: 515030. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Asahi India Glass Ltd belong to?
Asahi India Glass Ltd operates in the Consumer Discretionary sector within the Auto Components industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of Asahi India Glass Ltd?
The Price-to-Earnings (PE) ratio of Asahi India Glass Ltd is 65.95. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Asahi India Glass Ltd?
Over the past 52 weeks, Asahi India Glass Ltd has traded between a low of ₹688.3 and a high of ₹1,074. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Asahi India Glass Ltd?
Asahi India Glass Ltd has a Return on Equity (ROE) of 13.95%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Asahi India Glass Ltd on Tapetide?
On Tapetide, you can view Asahi India Glass Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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

Explore More

More in Consumer Discretionary → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List