Asahi India Glass share price & results
- Jun 2026
- Sept 2026
India's leading auto & architectural glass maker; ~75% share of India's passenger-car glass market.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,320 | +15.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 24.0 | +8.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 151 | +184.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 13.51 | −2.4 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -2.79 | +8.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 10.30 | +2.6 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −3.1% 1Y
1Y: ₹944.7 on 24 Oct 2025 → ₹914.95. High ₹1,066.4 (2 Dec 2025), low ₹784.4 (30 Mar 2026).
- Previous close
- ₹906.55
- Market cap
- ₹23.3k Cr
- 52-week range
- ₹784.4 – ₹1,066.4
- One year
- −4.04%
- Price to earnings (TTM to Jun 2026)
- 52.21×
- Return on equity (TTM to Jun 2026)
- 13.51%
Overview
- Symbol
- NSE:ASAHIINDIA
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Asahi India Glass Limited does
Based on the company's own presentations, annual report and earnings calls.
Asahi India Glass (AIS) is India's largest integrated glass and window-solutions company, spanning the full value chain from float and automotive glass manufacturing to processing, sub-assembly, fabrication, and installation. It started commercial operations in 1987 as a joint venture between the Labroo family, Asahi Glass Co. Ltd. (now AGC Inc.), and Maruti Udyog Limited (now MSIL). AIS supplies laminated windshields, tempered side/rear glass, sunroof glass and sub-assemblies to passenger and commercial vehicle OEMs, and also makes float, coated, processed and value-added glass for buildings and consumer/retail use through its Automotive, Architectural and Consumer Glass strategic business units.
Segments
- Automotive Glass
- Architectural Glass
- Consumer Glass
- Manufacturing plants
- 15
- Manufacturing locations
- Bawal, Chennai, Patan, Roorkee, Taloja, Soniyana, Faridabad, Bangalore, Pune, Anantapur, Kharkhoda
- Automotive glass manufacturing units
- 5
- Architectural glass manufacturing units
- 3
- Sub-assembly units
- 4
- Advance warehouses
- 6
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +185% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,089 | 1,054 | 1,106 | 1,144 | 1,082 | 1,177 | 1,273 | 1,320 |
| Expenses | 885 | 888 | 917 | 963 | 906 | 937 | 998 | 1,003 |
| Operating profit | 204 | 166 | 189 | 181 | 177 | 240 | 275 | 317 |
| Operating margin | 19.0% | 16.0% | 17.0% | 16.0% | 16.0% | 20.0% | 22.0% | 24.0% |
| Other income | 7 | 71 | 9 | 12 | 11 | 4 | 9 | 6 |
| Interest | 30 | 30 | 32 | 58 | 58 | 42 | 40 | 45 |
| Depreciation | 43 | 43 | 44 | 63 | 63 | 67 | 70 | 75 |
| Profit before tax | 138 | 164 | 123 | 72 | 67 | 135 | 175 | 204 |
| Tax rate | 33.0% | 21.0% | 26.0% | 26.0% | 29.0% | 23.0% | 28.0% | 26.0% |
| Net profit | 93 | 129 | 91 | 53 | 47 | 103 | 126 | 151 |
| EPS (₹ per share) | 3.81 | 5.29 | 3.76 | 2.20 | 1.86 | 4.05 | 4.94 | 5.94 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 4,019 | 4,163 | 4,312 | 4,676 |
| Expenses | 3,224 | 3,428 | 3,582 | 3,804 |
| Operating profit | 794 | 734 | 730 | 873 |
| Other income | 33 | 14 | 92 | 36 |
| Interest | 105 | 130 | 123 | 198 |
| Depreciation | 160 | 164 | 172 | 263 |
| Profit before tax | 563 | 453 | 528 | 449 |
| Net profit | 361 | 335 | 389 | 329 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 24 | 24 | 24 | 24 | 25 | 25 |
| Reserves | 1,788 | 2,103 | 2,389 | 2,723 | 3,675 | 3,999 |
| Borrowings | 1,205 | 1,350 | 1,902 | 2,631 | 2,856 | 2,099 |
| Other liabilities | 810 | 1,131 | 1,202 | 1,447 | 1,345 | 1,593 |
| Total liabilities | 3,828 | 4,608 | 5,517 | 6,825 | 7,902 | 7,716 |
| Fixed assets | 2,263 | 2,256 | 2,383 | 3,795 | 3,984 | 4,259 |
| Capital work in progress | 89 | 227 | 813 | 552 | 848 | 418 |
| Investments | 52 | 114 | 244 | 230 | 52 | 258 |
| Other assets | 1,425 | 2,011 | 2,077 | 2,248 | 3,019 | 2,781 |
| Total assets | 3,828 | 4,608 | 5,517 | 6,825 | 7,902 | 7,716 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 517 | 566 | 377 | 656 | 664 | 454 |
| Cash from investing | -83 | -78 | -294 | -979 | -1,168 | -630 |
| Cash from financing | -391 | -460 | -55 | 344 | 475 | 244 |
| Net cash flow | 44 | 28 | 28 | 21 | -28 | 67 |
| Free cash flow | 435 | 491 | 146 | -196 | -569 | -153 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 59 | 45 | 46 | 45 | 53 | 56 |
| Inventory days | 277 | 279 | 270 | 218 | 240 | 294 |
| Days payable | 278 | 247 | 225 | 196 | 225 | 222 |
| Cash conversion cycle | 58 | 76 | 91 | 68 | 68 | 128 |
| Working capital days | -5 | 29 | 23 | 7 | 21 | 56 |
| Return on capital employed | 11.0% | 21.0% | 21.0% | 15.0% | 12.0% | 11.0% |
| Dividend payout | 18.0% | 14.0% | 13.0% | 14.0% | 12.0% | 394.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Automotive Glass contributes 55.2% of reported segment revenue.
Quarter ended 30 Jun 2026 · Consolidated
- Automotive Glass 55.2%
₹949.23 crore
- Float Glass 31.7%
₹545.22 crore
- Others 13.1%
₹224.33 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Automotive Glass | 949.23 | 55.2% |
| Float Glass | 545.22 | 31.7% |
| Others | 224.33 | 13.1% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹1,718.78 crore
- Intersegment adjustment
- ₹299.64 crore
- Net segment revenue
- ₹1,419.14 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
How the mix has moved
Float Glass grew from 29% to 32% of revenue over the last two years.
| Segment | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Jun 2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Automotive Glass | 56% | 58% | 59% | 62% | 56% | 59% | 56% | 55% | +22.1% |
| Float Glass | 29% | 27% | 25% | 23% | 28% | 28% | 31% | 32% | +41.0% |
| Others | 14% | 15% | 16% | 15% | 16% | 14% | 13% | 13% | +4.1% |
Share of reported segment revenue by quarter, consolidated basis, as filed. A quarter the company did not report is left blank, never carried forward.
See how segments are shifting across companies → Segment Shift
What the price assumes
Growth trapTo justify its price of ₹915, this stock must grow earnings at 32% every year for 7 years. Our analysis caps realistic growth at ~-5%. At that growth it is worth ₹134 — downside of 85%.
- Growth the price implies
- 32.1% a year
- for 7 years, fading to 4%
- It has actually compounded at
- -3.0% a year
- net profit, FY23–FY26 · EPS -4.6%
- The gap
- 0.4 pp
- -85% downside if it only repeats history
Ownership
Who owns it
Promoters hold 51.58% as of Sept 2026; institutions cut 0.35 pts since Jun 2026.
- Promoters 51.58%
- Foreign institutions 4.59%
- Domestic institutions 5.17%
- Government 0.00%
- Public 38.66%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- +3.04 pp 4.36% held
- FPI fund newly disclosed 1.01% held
- newly disclosed 0.03% held
- newly disclosed 0.03% held
The same filing shows 0 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Asahi India Glass Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 21.18% | unchanged | |
| 11.47% | unchanged | |
| 10.59% | unchanged | |
| 4.36% | +3.04 pp | |
| 3.36% | unchanged | |
| 2.35% | unchanged | |
| Mutual fund | 2.08% | unchanged |
| 2.02% | unchanged | |
| 2.00% | unchanged | |
| 1.58% | unchanged | |
| 1.38% | unchanged | |
| 1.37% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in ASAHIINDIA
Filings to Sep 2026
0 new, 0 added, 5 trimmed, 0 sold out — net −1.11 L shares (−1.4%).
- Held by funds
- ₹732 Cr
- 8 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹489 Cr · 0.6% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹489 Cr | held | Nov '19 |
| SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund | ₹148 Cr | held | Oct '25 |
| SBI Automotive Opportunities Fund SBI Mutual Fund | ₹67 Cr | −1.00 L | Oct '25 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹18 Cr | −0.06 L | Mar '21 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹9 Cr | −0.03 L | Oct '22 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | −0.02 L | Sep '24 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | −0.00 L | Sep '24 |
| SBI Nifty Small Cap 250 ETF SBI Mutual Fund | ₹0 Cr | held | May '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
0 added, 5 trimmed — net −1.11 L shares (−1.4%)
- Funds are sitting on
- +31%
- vs est. average cost
- Held by funds
- ₹732 Cr
- 8 schemes · ≈ 3.0% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹489 Cr · 0.6% of that fund
Shares held by these funds +304%
Oct '23 76.39 L shares Sep '26
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