Financial Results Highlights (Consolidated)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Total Income: ₹1,591.0 Cr vs ₹1,162.2 Cr, up 36.9% YoY
  • EBITDA: ₹351.4 Cr vs ₹199.2 Cr, up 76.4% YoY
  • EBITDA Margin: 22.1% vs 17.1%
  • Profit After Tax: ₹167.3 Cr vs ₹58.2 Cr, up 187.5% YoY
  • PAT Margin: 10.5% vs 5.0%
  • EPS: ₹6.56 vs ₹2.22

Sequential Performance (Q2 FY27 vs Q1 FY27)

  • Total Income: ₹1,591.0 Cr vs ₹1,419.1 Cr, up 12.1% QoQ
  • EBITDA: ₹351.4 Cr vs ₹330.5 Cr, up 6.3% QoQ
  • EBITDA Margin: 22.1% vs 23.3%
  • Profit After Tax: ₹167.3 Cr vs ₹149.1 Cr, up 12.2% QoQ
  • PAT Margin: 10.5% vs 10.5%

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Total Income: ₹3,010.1 Cr vs ₹2,401.7 Cr, up 25.3% YoY
  • EBITDA: ₹682.0 Cr vs ₹402.3 Cr, up 69.5% YoY
  • EBITDA Margin: 22.7% vs 16.8%
  • Profit After Tax: ₹316.4 Cr vs ₹113.0 Cr, up 180.0% YoY
  • PAT Margin: 10.5% vs 4.7%
  • EPS: ₹12.41 vs ₹4.42

Segment Performance (Q2 FY27)

Revenue by Segment

  • Automotive Glass: ₹1,065.9 Cr (30.8% YoY growth)
  • Float Glass: ₹608.1 Cr (58.4% YoY growth)
  • Others: ₹244.3 Cr (29.8% YoY growth)
  • Inter-segment revenue deduction: ₹327.3 Cr

Profit Before Tax by Segment

  • Automotive Glass: ₹131.4 Cr (69.2% YoY growth)
  • Float Glass: ₹137.2 Cr (246.6% YoY growth)
  • Others: ₹0.6 Cr (-91.2% YoY decline)
  • Total Segment PBT: ₹269.1 Cr (116.9% YoY growth)

Key Operational Highlights

  • Stabilized 12 new automotive models in Q2 FY27
  • Ramp up of new Phase 3 tempered expansion in Patan
  • Ramp up of laminated expansion in Chennai
  • F2 float plant operating at full capacity compared to cold-repair period in previous year

Management Commentary

Mr. Sanjay Labroo, Chairman & Managing Director, stated that Q2 FY27 was the company's "best-ever quarter of financial performance." He attributed the strong results to:

  • Sustained strategy of value addition and integration
  • Robust passenger vehicle demand supporting automotive segment volumes
  • Improved Float Glass realizations due to better product mix and operational efficiencies
  • Government support through Minimum Import Price (MIP) protecting against dumped imports

Challenges Mentioned

  • COGS including energy costs remained elevated amid prevailing macroeconomic environment
  • Inflationary pressure on Logistics, manpower, and consumables
  • Natural ramp up of new capacities in Patan and Chennai plants affecting sequential margins
  • Global uncertainties and macro-economic volatility

Future Outlook

The company stated it will continue to:

  • Invest in expanding manufacturing capacities
  • Introduce new technology products and processes
  • Strengthen vertical integration
  • Enhance customer proximity
  • Build indigenous capabilities across all businesses
  • Focus on improving asset utilization, cost optimization and productivity

Balance Sheet Position (as of September 2026)

  • Total Equity: ₹4,199.9 Cr (vs ₹3,934.2 Cr in March 2026)
  • Total Borrowings: ₹2,147.3 Cr (₹1,616.7 Cr non-current + ₹530.6 Cr current)
  • Cash and Cash Equivalents: ₹294.5 Cr
  • Total Assets: ₹8,314.5 Cr (vs ₹7,772.3 Cr in March 2026)

Cash Flow Statement (H1 FY27)

  • Net Cash from Operating Activities: ₹298.3 Cr
  • Net Cash from Investing Activities: ₹(194.9) Cr
  • Net Cash from Financing Activities: ₹(64.6) Cr
  • Net Increase in Cash: ₹38.8 Cr

Company Overview

Asahi India Glass Limited is India's leading integrated glass solutions provider with:

  • ~80% market share in Indian passenger vehicle glass market
  • ~26% share of domestic value-added architectural glass market
  • 15 manufacturing units and 11 advanced warehouses cum sub-assembly units
  • Aggregate float glass manufacturing capacity of 2,150 tonnes per day (TPD)
  • Promoter group holds ~53% of company (Labroo family, AGC Inc., Maruti Suzuki India Limited)