Asahi India Glass Limited (ASAHIINDIA)
₹923.55 -0.25% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Asahi India's revenue was ₹1,413 Cr (+15.0% year on year, +4.4% on the previous quarter), and net profit ₹149 Cr (+172.1% year on year); the operating margin was 23.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹1,413 | +15.0% | +4.4% |
| Operating profit | ₹325 | +68.9% | +13.2% |
| Net profit | ₹149 | +172.1% | +12.1% |
| EPS (₹) | 5.85 | +153.2% | +12.5% |
| Operating margin | 23.0% | — | — |
ASAHIINDIA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 56.15% of the ASAHIINDIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.15%. That is close to its usual level.
Delivery in the last 5 sessions: 46.0% · 53.9% · 47.7% · 47.6% · 56.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Asahi India Glass Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited, confirms that securities received for dematerialisation during the quarter ended 30th September 2026 were processed within prescribed timelines. The security certificates have been verified, cancelled, and the depositories' names entered in the member register. This is a standard quarterly administrative filing with no financial impact.
- Regulation 74(5) certificate submitted for the second quarter ended 30th September 2026
- Issued by RTA MUFG Intime India Private Limited (Registration No. INR000004058)
- RTA confirmation letter dated 03-10-2026 and filed with exchanges on 13th October 2026
- Confirms mutilation, cancellation, and updating of member register within prescribed timelines
Asahi India Glass Limited conducted its 41st Annual General Meeting on September 18, 2026. Key items placed for voting included the declaration of a final dividend of ₹2.00 per share on 25,49,27,192 equity shares (total payout of ~₹50.99 Cr), payable on or after September 24, 2026. Additionally, shareholders voted on a material related party transaction limit of up to ₹600 Cr with subsidiary AIS Consumer Glass Solutions Limited for FY2026-27, representing ~11.9% of TTM revenue. Scrutinizer voting results are scheduled to be declared on or before September 22, 2026.
- Declared final dividend of ₹2.00 per equity share on 25,49,27,192 shares, payable on or after September 24, 2026
- Material Related Party Transaction approval sought for up to ₹600 Cr with subsidiary AIS Consumer Glass Solutions for FY2026-27
- Voting results from Scrutinizer to be declared on or before September 22, 2026
- Remote e-voting window was open from September 14 to September 17, 2026
Asahi India Glass Limited has dispatched AGM notices and annual report access details to shareholders for its 41st Annual General Meeting scheduled on September 18, 2026. The company confirmed a final dividend of ₹2 per equity share for FY 2025-26. The record date to determine dividend entitlement and e-voting eligibility is Friday, September 11, 2026. Dividend disbursement is scheduled to commence on or after September 24, 2026.
- Final dividend of ₹2 per equity share recommended for FY 2025-26
- Record date fixed as Friday, September 11, 2026 for dividend entitlement and e-voting
- 41st Annual General Meeting scheduled for Friday, September 18, 2026 via video conferencing
- Dividend payment date scheduled on or after Thursday, September 24, 2026
- Remote e-voting window runs from September 14, 2026 (9:00 AM) to September 17, 2026 (5:00 PM)
Asahi India Glass Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 under SEBI LODR Regulation 34, accompanied by a reasonable assurance report from Bureau Veritas. The disclosures reiterate the company's dominant ~80% market share in the Indian passenger vehicle glass segment and ~12% share in domestic architectural glass. The filing notes the commissioning of the ASN-Nashik plant during FY26, bringing its total manufacturing footprint to 14 plants. Exports represented just 0.36% of turnover, reflecting high reliance on domestic auto OEM and building sectors.
- Maintains dominant ~80% market share in Indian passenger vehicle glass and ~12% in architectural glass
- Exports accounted for 0.36% of total entity turnover in FY 2025-26
- Operating footprint consists of 14 plants and 6 offices, with ASN-Nashik commissioned in FY26
- Workforce stood at 2,389 employees and 5,735 workers as of March 31, 2026
Asahi India Glass Limited has issued the notice for its 41st Annual General Meeting scheduled for September 18, 2026. Key agenda items include adoption of FY26 financials and declaration of a final dividend of ₹2.00 per equity share. The company is also seeking shareholder approval for related-party transactions of up to ₹750 crore with AGC Asia Pacific Pte. Ltd for FY27 (representing ~14.9% of TTM revenue of ₹5,027 crore), alongside the re-appointment of Deputy MD & CTO Mr. Masao Fukami for a 4-year term starting January 1, 2027.
- 41st Annual General Meeting convened for Friday, September 18, 2026 via Video Conferencing.
- Recommended final dividend of ₹ 2.00 per equity share for the financial year ended March 31, 2026.
- Proposed approval for related-party transactions with AGC Asia Pacific Pte. Limited up to ₹ 750 Crores for FY 2026-27.
- Re-appointment of Mr. Masao Fukami as Deputy MD - Technical & C.T.O. (Auto) for 4 years w.e.f. January 1, 2027 at a basic salary of ₹ 1,50,000 per month plus commission.
Asahi India Glass Limited has issued notices to shareholders who have not claimed dividends for seven consecutive years (since FY 2018-19), intimating the upcoming transfer of corresponding shares and unclaimed amounts to the Investor Education and Protection Fund (IEPF). The company dispatched individual notices on August 19, 2026, and published newspaper advertisements on August 20, 2026. Affected shareholders must submit valid claims to the company's RTA, MUFG Intime India Pvt. Ltd., by August 31, 2026, to prevent the transfer. This is a mandatory statutory compliance procedure under Section 124(6) of the Companies Act, 2013.
- Notices dispatched on August 19, 2026, to shareholders with unclaimed dividends for 7 or more consecutive years
- Advertisements published on August 20, 2026, in Business Standard (all editions) and Veer Arjun (New Delhi edition)
- Cut-off date for shareholders to submit claims before transfer to IEPF is August 31, 2026
- Applies to unclaimed dividends starting from FY 2018-19 pursuant to Section 124(6) of Companies Act, 2013
Asahi India Glass Limited has circulated a formal tax deduction at source (TDS) communication to shareholders regarding its recommended final dividend of ₹2.00 per equity share (200% on ₹1.00 face value) for FY 2025-26. The dividend is subject to approval at the 41st Annual General Meeting scheduled for 18th September 2026. The record date to determine eligible shareholders is 11th September 2026. Shareholders must submit relevant tax exemption forms (e.g., Form 121 or DTAA documents) on or before 11th September 2026 to avoid higher withholding taxes.
- Recommended final dividend of ₹2.00 per equity share of ₹1.00 face value (200%) for FY 2025-26
- Record date set as 11th September 2026 to determine shareholder eligibility
- 41st Annual General Meeting (AGM) to approve dividend scheduled for 18th September 2026
- Submission deadline for lower/nil TDS withholding tax documentation is 11th September 2026
- Standard resident TDS rate is 10% for dividend payouts exceeding ₹10,000 where a valid PAN is available
Asahi India Glass has finalized September 11, 2026, as the record date for its recommended dividend of Rs 2 per equity share for FY 2025-26. This follows the board's recommendation made on May 27, 2026, and is subject to shareholder approval at the 41st Annual General Meeting (AGM) on September 18, 2026. At the current market price of Rs 916.5, the dividend yield is approximately 0.22%. The total estimated dividend payout is approximately Rs 50.44 Cr, which represents about 14.9% of the company's TTM PAT of Rs 338 Cr.
- Dividend of Rs 2 per equity share recommended for the financial year 2025-26
- Record date for dividend eligibility and 41st AGM fixed as Friday, 11th September 2026
- 41st Annual General Meeting scheduled for Friday, 18th September 2026 via video conferencing
- Estimated total dividend payout of ~Rs 50.44 Cr based on current share capital
- Dividend yield is approximately 0.22% based on the current price of Rs 916.5
Asahi India Glass Limited (AIS) reported a robust performance for Q1 FY27, with consolidated net profit surging 172% YoY to ₹149.08 cr compared to ₹54.79 cr in Q1 FY26. Consolidated revenue from operations grew 15% YoY to ₹1,413.39 cr, driven by strong growth in both Automotive and Float Glass segments. The Float Glass segment showed significant margin improvement, with EBIT jumping to ₹117.03 cr from ₹36.70 cr YoY. The company also announced the re-appointment of Mr. Masao Fukami as Dy. Managing Director for a four-year term starting January 2027.
- Consolidated Net Profit increased by 172% YoY to ₹149.08 cr in Q1 FY27
- Consolidated Revenue from operations rose 15% YoY to ₹1,413.39 cr
- Float Glass segment EBIT grew significantly to ₹117.03 cr from ₹36.70 cr in the year-ago period
- Automotive Glass segment revenue reached ₹949.23 cr, up 22% from ₹777.35 cr YoY
- Basic and Diluted EPS for the quarter stood at ₹5.85, up from ₹2.31 in Q1 FY26
Asahi India Glass reported a robust Q1 FY27 with consolidated revenue growing 15% YoY to ₹1,413.39 Cr. Consolidated net profit witnessed a significant 172% YoY jump to ₹149.08 Cr, compared to ₹54.79 Cr in the same quarter last year. The growth was driven by strong performance in the Float Glass segment, where results improved from ₹36.70 Cr to ₹117.03 Cr YoY. Additionally, the board approved the re-appointment of Mr. Masao Fukami as Deputy Managing Director (Technical & CTO - Auto) for a four-year term starting January 2027.
- Consolidated Net Profit surged 172% YoY to ₹149.08 Cr in Q1 FY27.
- Consolidated Revenue from operations increased 15% YoY to ₹1,413.39 Cr.
- Float Glass segment results grew 218% YoY to ₹117.03 Cr, indicating significant margin expansion.
- Automotive Glass segment revenue reached ₹949.23 Cr, up 22% from ₹777.35 Cr YoY.
- Mr. Masao Fukami re-appointed as Dy. Managing Director for a second 4-year term effective Jan 1, 2027.
Asahi India Glass reported a robust Q1 FY27 with consolidated net profit surging 172% YoY to ₹149.08 Cr, compared to ₹54.79 Cr in the same quarter last year. Consolidated revenue grew 15.5% YoY to ₹1,419.14 Cr, driven by strong performance across both Automotive and Float glass segments. Notably, the Float Glass segment's profitability saw a massive turnaround, with segment results jumping from ₹36.70 Cr to ₹117.03 Cr. The company also benefited from lower finance costs, which dropped to ₹46.73 Cr from ₹59.32 Cr YoY.
- Consolidated Net Profit surged 172% YoY to ₹149.08 Cr in Q1 FY27
- Consolidated Revenue from Operations increased 15.5% YoY to ₹1,419.14 Cr
- Float Glass segment results grew 218% YoY to ₹117.03 Cr
- Automotive Glass segment revenue rose 22% YoY to ₹949.23 Cr
- Finance costs reduced by 21% YoY to ₹46.73 Cr
Asahi India Glass (AIS) reported a robust Q1 FY27 with standalone revenue growing 15.4% YoY to ₹1,320.11 Cr. Net profit surged 183.8% YoY to ₹151.45 Cr, primarily driven by a massive turnaround in the Float Glass segment where profits tripled. The Automotive segment also performed well, with segment results growing 55% YoY. Additionally, the board approved the re-appointment of Mr. Masao Fukami as CTO (Auto) for a second four-year term starting January 2027.
- Standalone Net Profit jumped 183.8% YoY to ₹151.45 Cr from ₹53.37 Cr in the previous year's quarter.
- Revenue from operations increased 15.4% YoY to ₹1,320.11 Cr, representing ~27% of TTM revenue.
- Float Glass segment profit (PBIT) rose 219% YoY to ₹117.03 Cr, indicating high operating leverage from the Rajasthan plant.
- Automotive Glass segment revenue grew 22% YoY to ₹949.23 Cr, maintaining its dominant market position.
- Finance costs decreased significantly to ₹45.13 Cr from ₹57.73 Cr in Q1 FY26.
Asahi India Glass Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its registrar MUFG Intime India Private Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and cancelled as per regulations. This is a standard administrative filing to ensure the integrity of the company's share register. There are no financial implications or material business updates contained in this announcement.
- Covers the first quarter ended 30th June, 2026
- Compliance confirmed under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Registrar MUFG Intime India Private Limited (formerly Link Intime India) issued the certificate on 1st July, 2026
- Confirms that security certificates were mutilated and cancelled after due verification
- Filing submitted to exchanges on 8th July, 2026
Asahi India Glass has announced the closure of its trading window for all designated persons starting July 1, 2026. This is a standard regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of financial results. The closure pertains to the unaudited financial results for the first quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are publicly announced.
- Trading window closure for designated persons begins on July 1, 2026
- Closure is in relation to the financial results for the quarter ending June 30, 2026
- Trading window will reopen 48 hours after the public announcement of results
- Filing is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
AGC Inc., a promoter of Asahi India Glass Limited, has submitted a formal declaration under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The promoter confirmed that no new encumbrances or pledges were created on their equity shares during the financial year ending March 31, 2026, beyond what was already disclosed. This is a routine annual compliance filing intended to provide transparency regarding promoter shareholding and leverage. The disclosure indicates that the promoter's stake remains stable without additional encumbrance-related risks.
- Promoter AGC Inc. filed the annual disclosure under Regulation 31(4) of SEBI SAST Regulations.
- The declaration confirms no additional encumbrances were made on equity shares during the 2025-2026 financial year.
- The filing is a mandatory transparency requirement for promoters to disclose any pledging of shares.
- The disclosure reflects the status of shareholding as of the period ending March 31, 2026.
Financial Performance
Revenue Growth by Segment
The company operates through two Strategic Business Units (SBUs): AIS Auto Glass (laminated and tempered glass) and Float Glass (Architectural and Consumer Glass). While specific segment revenue growth percentages for Q2 FY26 were not explicitly detailed in the text, the total assets for the group grew by 16.38% from INR 6,789.80 Cr in March 2025 to INR 7,902.28 Cr by September 2025, reflecting significant capital deployment in the Float Glass segment.
Geographic Revenue Split
Not disclosed in available documents; however, the company operates major facilities in Rajasthan (Soniyana) and Haryana (Gurugram), serving the pan-India automotive and architectural markets.
Profitability Margins
Standalone Profit Before Tax (PBT) for H1 FY26 stood at INR 139.22 Cr, representing a significant portion of the previous full year's PBT of INR 527.43 Cr. Profitability is expected to improve as the new Rajasthan float glass plant ramps up, providing backward integration benefits.
EBITDA Margin
Operating efficiency is described as healthy by CRISIL. Rating sensitivity factors indicate a target for cash accruals to reach INR 900-1,000 Cr on a sustained basis to trigger further upgrades, suggesting an expected expansion in EBITDA margins from current levels.
Capital Expenditure
Capital Work-in-Progress (CWIP) increased by 50.84% from INR 562.04 Cr in March 2025 to INR 847.80 Cr in September 2025, primarily driven by the commissioning and ramp-up of the new float glass plant in Rajasthan.
Credit Rating & Borrowing
CRISIL upgraded the rating to 'AA-/Stable' from 'A+/Stable' in late 2025. CARE reaffirmed 'A+; Stable' for long-term facilities (INR 2,769.12 Cr) and 'A1+' for short-term facilities. Borrowing costs are expected to decline following the INR 1,000 Cr QIP used for deleveraging.
Operational Drivers
Raw Materials
Key raw materials include Silica Sand, Soda Ash, and Cullet (recycled glass), which typically represent 50-60% of manufacturing costs in the glass industry.
Import Sources
Not specifically disclosed, but the company utilizes backward integration from its new Rajasthan plant to secure internal supply chains.
Capacity Expansion
The company recently commissioned a new float glass plant in Soniyana, Rajasthan. CWIP of INR 847.80 Cr as of September 2025 indicates ongoing investment in capacity ramp-up and technological upgrades.
Raw Material Costs
Raw material costs are a primary driver of margins; the company is mitigating these through backward integration at the Rajasthan facility to reduce procurement volatility and logistics costs.
Manufacturing Efficiency
The upgrade to CRISIL AA- was specifically driven by expected stabilization and ramp-up of the Rajasthan plant, which enhances operating efficiency through integrated production.
Logistics & Distribution
The strategic location of the Soniyana, Rajasthan plant helps optimize distribution to North Indian automotive hubs and architectural markets.
Strategic Growth
Expected Growth Rate
15-18%
Growth Strategy
Growth will be achieved through the successful stabilization of the Rajasthan float glass plant, which provides the raw material for high-margin value-added products. Additionally, the company raised INR 1,000 Cr via QIP in September 2025 to deleverage the balance sheet, reducing interest outflows and freeing up cash for further expansion in the architectural glass segment.
Products & Services
Laminated glass, tempered glass, toughened glass, float glass, architectural glass, and consumer glass products.
Brand Portfolio
AIS, Asahi India Glass.
New Products/Services
Expansion into high-performance architectural glass and value-added automotive glass (e.g., acoustic or IR-cut glass) is expected to contribute to margin expansion.
Market Expansion
Focusing on the architectural segment to capitalize on the premiumization of Indian real estate and infrastructure.
Market Share & Ranking
Dominant leadership position in the Indian passenger vehicle glass market and a strong top-tier position in the architectural float glass segment.
Strategic Alliances
Joint Venture between the Labroo Family, AGC Inc. (Japan), and Maruti Suzuki India Limited.
External Factors
Industry Trends
The industry is shifting toward value-added glass (energy-efficient, acoustic, and safety glass). AIS is positioned to lead this shift through its technical partnership with AGC Inc. and its new integrated manufacturing capabilities.
Competitive Landscape
Key competitors include Saint-Gobain and Gold Plus Glass, but AIS maintains an edge in the automotive segment through its MSIL relationship.
Competitive Moat
The company's moat is built on its unique shareholding structure (JV with the largest carmaker MSIL and global leader AGC Inc.), providing both captive demand and cutting-edge technology. This is highly sustainable due to the high entry barriers in glass manufacturing and deep OEM integration.
Macro Economic Sensitivity
Highly sensitive to interest rates (affecting auto loans and real estate) and GDP growth, which drives construction activity.
Consumer Behavior
Increasing demand for sun-roofs and larger glass areas in SUVs is driving higher content per vehicle for the Auto Glass segment.
Geopolitical Risks
Exposure to global soda ash price volatility and potential trade barriers on imported float glass.
Regulatory & Governance
Industry Regulations
Compliance with Bureau of Indian Standards (BIS) for glass quality and safety, and environmental norms for furnace emissions.
Environmental Compliance
Recognized for ESG-driven initiatives in energy efficiency and resource management; ESG performance is a core part of the operating model.
Taxation Policy Impact
Effective tax rate is aligned with standard Indian corporate rates; H1 FY26 PBT was INR 139.22 Cr.
Risk Analysis
Key Uncertainties
Volatility in natural gas prices (a major cost component) could impact margins by 2-3% if prices spike unexpectedly.
Geographic Concentration Risk
Manufacturing is concentrated in India, with major new capacity in Rajasthan.
Third Party Dependencies
Heavy reliance on the automotive OEM cycle, particularly the production schedules of Maruti Suzuki.
Technology Obsolescence Risk
Low risk due to technical collaboration with AGC Inc., ensuring AIS stays at the forefront of glass chemistry and processing.
Credit & Counterparty Risk
Strong receivables quality given the blue-chip nature of automotive OEM clients and established architectural distributors.
