ASAHIINDIA

Asahi India Glass share price & financials

Price
₹881.2
Market cap
₹25.1k Cr
Sector
Automobile and Auto Components

What Asahi India Glass Limited does

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
Founded 1987Headquarters Gurugram, Haryana, India Company website

Quarterly results

Q1 FY27: revenue up 15.4%, net profit up 184.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue1,089 1,054 1,106 1,144 1,082 −1%1,177 +12%1,273 +15%1,320 +15%
EBITDA204 166 189 181 177 −13%240 +45%275 +46%317 +75%
Net profit93 129 91 53 47 −49%103 −20%126 +38%151 +185%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +14.7% 1Y

₹0.8k₹0.9k₹1.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹859.1 on 10 Sept 2025 → ₹985.8. High ₹1,066.4 (2 Dec 2025), low ₹784.4 (30 Mar 2026).

Financials, as filed

Revenue grew 5.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 18.7%.

Year endingFY23FY24FY25FY26
Revenue₹4.0k Cr₹4.2k Cr₹4.3k Cr₹4.7k Cr
Operating profit₹794 Cr₹734 Cr₹730 Cr₹873 Cr
Operating margin19.8%17.6%16.9%18.7%
Interest₹105 Cr₹130 Cr₹123 Cr₹198 Cr
Depreciation₹160 Cr₹164 Cr₹172 Cr₹263 Cr
Net profit₹361 Cr₹335 Cr₹389 Cr₹329 Cr
Net margin9.0%8.0%9.0%7.0%
Cash from operations₹377 Cr₹656 Cr₹664 Cr₹454 Cr
Free cash flow₹146 Cr₹-196 Cr₹-569 Cr₹-153 Cr
ROCE21.0%15.0%12.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹24 Cr₹24 Cr₹24 Cr₹24 Cr₹25 Cr₹25 Cr
Reserves₹1.5k Cr₹1.8k Cr₹2.1k Cr₹2.4k Cr₹3.7k Cr₹4.0k Cr
Borrowings₹1.5k Cr₹1.2k Cr₹1.4k Cr₹1.9k Cr₹2.9k Cr₹2.1k Cr
Other liabilities₹767 Cr₹810 Cr₹1.1k Cr₹1.2k Cr₹1.3k Cr₹1.6k Cr
Total liabilities₹3.8k Cr₹3.8k Cr₹4.6k Cr₹5.5k Cr₹7.9k Cr₹7.7k Cr
Fixed assets₹2.2k Cr₹2.3k Cr₹2.3k Cr₹2.4k Cr₹4.0k Cr₹4.3k Cr
Capital work in progress₹262 Cr₹89 Cr₹227 Cr₹813 Cr₹848 Cr₹418 Cr
Investments₹47 Cr₹52 Cr₹114 Cr₹244 Cr₹52 Cr₹258 Cr
Other assets₹1.3k Cr₹1.4k Cr₹2.0k Cr₹2.1k Cr₹3.0k Cr₹2.8k Cr
Total assets₹3.8k Cr₹3.8k Cr₹4.6k Cr₹5.5k Cr₹7.9k Cr₹7.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +3.48 pp while promoters trimmed −2.51 pp.

Promoters
51.6%
FIIs
4.8%
DIIs
5.3%
Public
38.3%

Since Jun 2025

  • DIIs +3.48 pp
  • Promoters −2.51 pp
  • Public −2.09 pp

How it drifted, 12 quarters

Over this window DIIs went from 1.8% to 5.3% — +3.4 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 54.2%, FIIs 3.7%, DIIs 1.8%, Public 40.3%.Dec '23: Promoters 54.2%, FIIs 3.7%, DIIs 1.9%, Public 40.1%.Mar '24: Promoters 54.2%, FIIs 3.9%, DIIs 1.4%, Public 40.4%.Jun '24: Promoters 54.2%, FIIs 3.9%, DIIs 1.5%, Public 40.3%.Sep '24: Promoters 54.2%, FIIs 4.0%, DIIs 1.6%, Public 40.2%.Dec '24: Promoters 54.2%, FIIs 4.2%, DIIs 1.6%, Public 40.0%.Mar '25: Promoters 54.2%, FIIs 4.2%, DIIs 1.6%, Public 40.0%.Jun '25: Promoters 54.1%, FIIs 3.7%, DIIs 1.8%, Public 40.4%.Sep '25: Promoters 51.6%, FIIs 4.9%, DIIs 5.2%, Public 38.4%.Dec '25: Promoters 51.6%, FIIs 4.9%, DIIs 5.3%, Public 38.3%.Mar '26: Promoters 51.6%, FIIs 4.8%, DIIs 5.3%, Public 38.2%.Jun '26: Promoters 51.6%, FIIs 4.8%, DIIs 5.3%, Public 38.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Asahi India Glass Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Asahi Glass Co., Ltd 21.18%unchanged
Sanjay Labroo 11.47%unchanged
Maruti Suzuki India Ltd 10.59%unchanged
Nemish S Shah 4.36%newly disclosed
Gagandeep Credit Capital Pvt Ltd 3.36%unchanged
Hiten Anantrai Sheth 2.35%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund2.08%unchanged
Shamyak Investment Private Limited 2.02%unchanged
Prescient Wealth Management Private Limited 2.00%unchanged
Essel Marketing (P) Ltd 1.58%unchanged
Leena S Labroo 1.38%unchanged
Anuj A Sheth 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 Aug 2026

0 new, 4 added, 1 trimmed, 0 sold out — net +0.03 L shares (+0.0%).

Held by funds
₹760 Cr
9 schemes
Biggest holder
Nippon India Small Cap Fund
₹486 Cr · 0.6% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹486 Crheld
SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund₹147 Crheld
SBI Automotive Opportunities Fund SBI Mutual Fund₹76 Crheld
SBI Resurgent India Opportunities Scheme SBI Mutual Fund₹23 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹18 Cr+0.02 L
SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund₹9 Cr+0.01 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L
SBI Nifty 500 Index Fund SBI Mutual Fund₹0 Cr−0.00 L

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 Aug 2026

4 added, 1 trimmed — net +3,460 shares (+0.0%)

Funds are sitting on
+25%
vs est. average cost
Held by funds
₹760 Cr
9 schemes · ≈ 2.8% of the company
Biggest holder
Nippon India Small Cap Fund
₹486 Cr · 0.6% of that fund

Shares held by these funds +325%

Aug '23 79.83 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹986, this stock must grow earnings at 34% every year for 7 years. Our analysis caps realistic growth at ~-5%. At that growth it is worth ₹134 — downside of 86%.

Growth the price implies
33.6% 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
-86% downside if it only repeats history
Price today ₹985.8 Value at the reference growth ₹133.76

Change the assumptions yourself →

Learn to analyse Asahi India Glass Limited

Guides on how to read this kind of business and the numbers that matter.