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). Asahi India Glass Limited was incorporated in 1984 and is based in Gurugram, India.
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. The company has built its reputation as a comprehensive glass solutions provider, serving multiple industries and consumer segments through its extensive product portfolio and manufacturing capabilities.
It operates in two segments: Automotive Glass and Float Glass. The automotive glass segment caters to various vehicle categories, while the float glass segment serves architectural and construction applications.
Its auto glass products are used in the manufacturing of passenger and commercial vehicles, including trucks, buses, railways, metros, tractors, and off-highway vehicles. Its automotive glass includes windscreen, sidelites, backlite, sunroof, and bullet resistant glass. Its architectural glass includes float glass, super specialty glass, energy-efficiency glass, value-added glass, AIS windows, and designer glass.
It also provides a range of architectural glass products, such as clear float, heat absorbing, solar control, patterned reflective, sunshield, patterned sunshield, ecosense, energy-efficient reflective, impact resistance, burglar resistant, sound resistant, valuglas, securityplus, insulated-glazed, heat-strengthened, swytchglas -electrochromatic, integrated blinds, pyrobel - fire retardant, and energy-efficient reflective glasses. In addition, the company offers uPVC and aluminum windows; designer glasses, such as back painted, frosted, mesh laminated, colored laminated, fabric laminated, printed, and acid etched glasses, as well as distortion-free mirrors, ceramic frit, and vibrant colors for interiors; and glass, window, and door solutions.
It provides customized solutions to home and car owners through its consumer brands, AIS Windows, AIS Glasxperts, AIS Windshield Experts, and Carfit Experts. AIS also offers a variety of services, such as glass processing, glass tempering, glass lamination, and glass printing. The company has a well-established network of over 2000 channel partners and distributors across India, and has a presence in over 50 countries.
Asahi India Glass has a market cap or net worth of ₹16,416 Crore as of January 31, 2025. Its market cap has increased by 18.58% in one year. Asahi India Glass Ltd has a market capitalization of ₹18,865 Crore as on July 1, 2025. As per Value Research classification, it is a Mid Cap company.
Recent financial performance shows a strong growth trajectory. Net profit of Asahi India Glass rose 25.01% to ₹92.41 Crore in the quarter ended March 2025, as against ₹73.92 Crore during the previous quarter ended March 2024. Sales rose 5.53% to ₹1,147.80 Crore in the quarter ended March 2025, as against ₹1,087.63 Crore during the previous quarter.
For the full year financial results, net profit rose 13.20% to ₹371.27 Crore in the year ended March 2025, as against ₹327.98 Crore during the previous year ended March 2024. Sales rose 5.37% to ₹4,551.74 Crore in the year ended March 2025, as against ₹4,319.75 Crore during the previous year ended March 2024.
Key financial metrics for Q1 FY25 include:
- Revenue: ₹1,147.80 Crore as on March 2025 (Q1 2025)
- Net Profit: ₹91.54 Crore as on March 2025 (Q1 2025)
- Net profit rose 25.01% to ₹92.41 Crore, while EBITDA increased by 12.45%. The EPS also improved to ₹3.80.
Asahi India Glass announced that the Board of Directors of the Company at its meeting held on May 14, 2025, inter alia, have recommended a final dividend of ₹2 per equity Share (i.e., 200%), subject to the approval of the shareholders.
Promoter Holding: 54.2%. 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. This strategic partnership with AGC, Japan, provides AIS with technical expertise and global best practices.
Asahi India Glass Ltd. (AIS) is India's leading integrated glass solutions company, dominating the automotive and building & construction segments. AIS offers a wide range of innovative glass products, driving sustainable solutions for automotive, architectural, and consumer needs.
The company's operational metrics show steady performance with An annual revenue growth of 6% is not great, Pre-tax margin of 11% is healthy, ROE of 13% is good. However, The company has a debt to equity of 74%, which is a bit higher.
Asahi India Glass Ltd is focusing on consolidation, premiumization, and product diversification to drive growth. Despite challenges like raw material inflation, demand recovery is strong, supported by rural and urban markets.
The stock has delivered 13.98% returns over the last six months and 27.29% over the past year. Asahi India Glass Ltd has given a return of 13.86% in the last 3 years.
The company has demonstrated resilience in its operational execution and maintains a strong market position in both automotive and architectural glass segments. With its comprehensive product portfolio, extensive distribution network, and strategic partnership with AGC Japan, AIS is well-positioned to capitalize on India's growing automotive and construction industries while continuing to expand its international presence.
