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Asahi India Glass Q2 FY27 Share Price & Earnings Call Analysis

₹991.45+5.39% today
Market cap
₹25,275 Cr
P/E
56.62
ROE
10.30%
PEG
-29.65
Price to sales
4.89
Debt to equity
0.56
52W high / low
₹1,066 / ₹784
Sales growth (5Y)
15.53%
EBITDA margin
20.29%
Net profit margin
6.83%
Promoter holding
51.58%
Sales (last year)
₹5,175 Cr

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).

Potential multibaggers · Q2 FY27

Potential multibaggers in Auto Components
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
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    3
See all potential multibaggersWhere does Asahi India Glas rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Auto Components companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹2,874 Cr45.4
240%+Flat₹2,116 Cr55.2
340%+Flat₹370 Cr15.1
420–40%Up 2%+₹25,664 Cr73.6
520–40%Up 0–2%₹21,742 Cr33.9
620–40%Up 0–2%₹11,707 Cr41.0

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Financials of Asahi India Glas

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Asahi India Glas

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +54.22%54.22%54.22%54.22%54.22%54.19%54.09%51.58%51.58%51.58%51.58%51.58%
FIIs +3.71%3.94%3.94%4.01%4.19%4.15%3.74%4.87%4.88%4.85%4.85%4.59%
DIIs +1.91%1.44%1.47%1.55%1.62%1.63%1.78%5.16%5.25%5.35%5.26%5.17%
Public +40.15%40.37%40.34%40.20%39.96%40.01%40.40%38.39%38.30%38.23%38.31%38.66%
No. of Shareholders59,97063,46560,22762,83663,20065,56463,61164,20966,69264,53964,15764,321

Pros & Cons

Asahi India Glas

Key positives and risks surfaced from the company insights section.

Pros
  • Stock is trading at 6.02 times its book value
  • Company has a low return on equity of 12.6% over last 3 years.
  • Dividend payout has been low at 14.2% of profits over last 3 years
Raw Insights
  • Stock is trading at 6.02 times its book value
  • Company has a low return on equity of 12.6% over last 3 years.
  • Dividend payout has been low at 14.2% of profits over last 3 years

Financials of Asahi India Glas

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,1201,0441,1051,1331,1581,1241,1801,2291,1511,2561,3541,4131,586
YoY Sales growth+10%+3%+3%+4%+3%+8%+7%+8%-1%+12%+15%+15%+38%
Expenses +9348809279519459499831,0369631,0051,0671,0891,240
Operating Profit186163178181213175197192188250287325346
OPM %17%16%16%16%18%16%17%16%16%20%21%23%22%
Other Income +822574691111-21065
Interest34343332313233595943424745
Depreciation43464847484949686973758180
Profit before tax117851001071411401247671133180203227
Tax %26%26%27%28%33%26%26%28%18%25%26%26%26%
Net Profit +866373779510592555899133149167
EPS in Rs3.572.613.043.213.934.343.802.312.223.905.205.856.56

Financials of Asahi India Glas

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2,0992,2092,3452,6332,9132,6432,4213,1704,0194,3414,5944,9825,609
Sales growth-5%+5%+6%+12%+11%-9%-8%+31%+27%+8%+6%+8%+20%
Expenses +1,7891,8161,9302,1692,4032,2091,9872,4103,2243,6173,8284,0724,401
Operating Profit3093934154645104354357617957247669101,208
OPM %15%18%18%18%18%16%18%24%20%17%17%18%22%
Other Income +1333123241946313332673719
Interest160144144124135146143121105136128204176
Depreciation1121107995119137132160160177192285309
Profit before tax51142223269280171205511563443513459742
Tax %26%42%33%35%33%11%36%33%36%27%28%25%
Net Profit +4085150176188151131343362325367345548
EPS in Rs1.733.586.157.307.826.325.4714.1815.0113.4915.2713.5221.51
Dividend Payout %-0%17%16%21%13%16%18%14%13%15%13%15%

Financials of Asahi India Glas

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital24242424242424242424242525
Reserves2573309021,0511,1911,2781,4151,7382,0502,3292,6453,9074,172
Borrowings +1,4191,3191,2211,3731,6431,7621,5661,2381,4011,9682,6962,1982,285
Other Liabilities +5605986828338317997687761,1041,1791,4251,6421,832
Total Liabilities2,2602,2722,8303,2813,6893,8633,7733,7774,5805,5006,7907,7728,314
Fixed Assets +1,1431,1341,5881,9071,9562,0352,2212,3232,3952,6164,0464,5344,653
CWIP41658511445348926291235826562445366
Investments161927424855698511285507881
Other Assets +1,0601,0541,1291,2181,2321,2841,2221,2781,8391,9722,1322,7163,215
Total Assets2,2602,2722,8303,2813,6893,8633,7733,7774,5805,5006,7907,7728,314

Financials of Asahi India Glas

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +50230418449424293516586402653720502
Cash from Investing Activity +-69-124-190-448-512-214-84-79-320-924-1,191-665
Cash from Financing Activity +24-100-249-191-93-382-479-52330458245
Net Cash Flow47-2113-1451282959-1382
Free Cash Flow-2110523213-809043350992-244-536-139
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit20%74%118%117%101%71%136%99%76%106%113%68%

Financials of Asahi India Glas

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days464438453436402831303537
Inventory Days250236252240273310284285271221243302
Days Payable139132161230252248277246225190219219
Cash Conversion Cycle1581481295655984767776160120
Working Capital Days-19-282-17-31-35-3171-11-133
ROCE %12%17%19%17%16%11%11%21%21%15%12%11%
68out of 100

Momentum score · price trend

68 out of 100 — Steady

Over the past year its share price has moved roughly in the middle of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+1.9%62%
Last 6 months+11.6%69%
Last 3 months+4.9%76%
How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Asahi India Glas: 0.4 × 62 + 0.4 × 69 + 0.2 × 76 = 68.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Asahi India Glas's management said in earlier quarters

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