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Last Updated: April 2, 2026, 2:37 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 515030 | NSE: ASAHIINDIA

Asahi India Glass Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,057.95Undervalued by 28.55%vs CMP ₹823.00

P/E (66.9) × ROE (13.6%) × BV (₹145.00) × DY (0.24%)

₹338.43Overvalued by 58.88%vs CMP ₹823.00
MoS: -143.2% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,027.1022%Under (+24.8%)
Graham NumberEarnings₹199.7516%Over (-75.7%)
Earnings PowerEarnings₹4.5613%Over (-99.4%)
DCFCash Flow₹10.9913%Over (-98.7%)
Net Asset ValueAssets₹145.197%Over (-82.4%)
EV/EBITDAEnterprise₹263.869%Over (-67.9%)
Earnings YieldEarnings₹122.307%Over (-85.1%)
ROCE CapitalReturns₹291.997%Over (-64.5%)
Revenue MultipleRevenue₹270.415%Over (-67.1%)
Consensus (9 models)₹338.43100%Overvalued
Key Drivers: Wide model spread (₹5–₹1,027) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -2.9%

*Investments are subject to market risks

Investment Snapshot

57
Asahi India Glass Ltd scores 57/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health65/100 · Strong
ROCE 12.4% GoodROE 13.6% GoodD/E 0.87 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 0.73% (6mo) Slight increaseDII holding up 3.62% MF buyingPromoter holding at 51.6% Stable
Earnings Quality40/100 · Moderate
OPM contracting (22% → 17%) Declining
Quarterly Momentum68/100 · Strong
Revenue (4Q): +5% YoY GrowingProfit (4Q): +1% YoY Positive
Industry Rank40/100 · Moderate
P/E 66.9 vs industry 40.2 Premium to peersROCE 12.4% vs industry 14.1% Average3Y sales CAGR: 13% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Asahi India Glass Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
10/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 66.9 vs Ind 40.2 | ROCE 12.4% | ROE 13.6% | CFO/NP N/A
Balance Sheet Stress
30/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.87x | IntCov 0.0x | Current 0.88x | Borrow/Reserve 0.78x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹367 Cr | CFO/NP N/A
Ownership Accumulation
+50
Accumulation
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.01 pp | DII +0.09 pp | Prom 0.00 pp
Business Momentum
0
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -6.3% | Q NP +5.5% | Q OPM 0.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-58.9%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.78xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.01 ppLatest FII% minus previous FII%
DII Change+0.09 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+2,483Latest shareholder count minus previous count
Quarterly Sales Change-6.3%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+5.5%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change0.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:37 am

Market Cap 20,973 Cr.
Current Price 823
Intrinsic Value₹338.43
High / Low 1,074/579
Stock P/E66.9
Book Value 145
Dividend Yield0.24 %
ROCE12.4 %
ROE13.6 %
Face Value 1.00
PEG Ratio-22.95

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Asahi India Glass Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Asahi India Glass Ltd 20,973 Cr. 823 1,074/57966.9 1450.24 %12.4 %13.6 % 1.00
Borosil Renewables Ltd 5,768 Cr. 411 721/37460.6 63.70.00 %4.41 %8.90 % 1.00
Borosil Ltd 2,891 Cr. 242 398/21436.8 71.20.00 %12.5 %9.32 % 1.00
La Opala RG Ltd 1,923 Cr. 173 287/16218.6 72.24.33 %15.4 %10.9 % 2.00
Empire Industries Ltd 516 Cr. 860 1,275/81113.9 5422.91 %14.4 %11.1 % 10.0
Industry Average6,414.20 Cr421.4040.20149.361.25%14.07%14.57%4.17

All Competitor Stocks of Asahi India Glass Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 1,0141,0101,0721,0891,1201,0441,1051,1331,1581,1241,1801,2291,151
Expenses 7998219028809348809279519459499831,036963
Operating Profit 215188170209186163178181213175197192188
OPM % 21%19%16%19%17%16%16%16%18%16%17%16%16%
Other Income 9797822574691111
Interest 26272634343433323132335959
Depreciation 40394141434648474849496869
Profit before tax 159129112141117851001071411401247671
Tax % 34%36%39%27%26%26%27%28%33%26%26%28%18%
Net Profit 10483681038663737795105925558
EPS in Rs 4.333.452.844.273.572.613.043.213.934.343.802.312.22

Last Updated: January 13, 2026, 1:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 10:14 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,2172,0992,2092,3452,6332,9132,6432,4213,1704,0194,3414,5944,816
Expenses 1,9871,7891,8161,9302,1692,4032,2091,9872,4103,2243,6173,8283,988
Operating Profit 229309393415464510435435761795724766828
OPM % 10%15%18%18%18%18%16%18%24%20%17%17%17%
Other Income 413331232419463133326729
Interest 163160144144124135146143121105136128195
Depreciation 1431121107995119137132160160177192258
Profit before tax -7251142223269280171205511563443513403
Tax % -31%26%42%33%35%33%11%36%33%36%27%28%
Net Profit -484085150176188151131343362325367304
EPS in Rs -1.921.733.586.157.307.826.325.4714.1815.0113.4915.2712.23
Dividend Payout % 0%0%17%16%21%13%16%18%14%13%15%13%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)183.33%112.50%76.47%17.33%6.82%-19.68%-13.25%161.83%5.54%-10.22%12.92%
Change in YoY Net Profit Growth (%)0.00%-70.83%-36.03%-59.14%-10.52%-26.50%6.44%175.08%-156.29%-15.76%23.14%

Asahi India Glass Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:12%
3 Years:13%
TTM:7%
Compounded Profit Growth
10 Years:25%
5 Years:18%
3 Years:0%
TTM:8%
Stock Price CAGR
10 Years:20%
5 Years:31%
3 Years:7%
1 Year:20%
Return on Equity
10 Years:16%
5 Years:16%
3 Years:16%
Last Year:14%

Last Updated: September 4, 2025, 11:40 pm

Balance Sheet

Last Updated: December 4, 2025, 12:58 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 24242424242424242424242425
Reserves 2172573309021,0511,1911,2781,4151,7382,0502,3292,6453,675
Borrowings 1,3951,4191,3191,2211,3731,6431,7621,5661,2381,4011,9682,6962,856
Other Liabilities 6775605986828338317997687761,1041,1791,4251,345
Total Liabilities 2,3132,2602,2722,8303,2813,6893,8633,7733,7774,5805,5006,7907,902
Fixed Assets 1,1771,1431,1341,5881,9071,9562,0352,2212,3232,3952,6164,0463,984
CWIP 4341658511445348926291235826562848
Investments 141619274248556985112855052
Other Assets 1,0791,0601,0541,1291,2181,2321,2841,2221,2781,8391,9722,1323,019
Total Assets 2,3132,2602,2722,8303,2813,6893,8633,7733,7774,5805,5006,7907,902

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 1050230418449424293516586402653720
Cash from Investing Activity + -92-69-124-190-448-512-214-84-79-320-924-1,191
Cash from Financing Activity + 4724-100-249-191-93-382-479-52330458
Net Cash Flow -3547-2113-1451282959-13
Free Cash Flow -83-2110523213-809043350992-244-536
CFO/OP -5%20%74%118%117%101%71%136%99%76%106%113%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow228.00308.00392.00414.00463.00509.00434.00434.00760.00794.00723.00764.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 554644384534364028313035
Inventory Days 255250236252240273310284285271221243
Days Payable 253139132161230252248277246225190219
Cash Conversion Cycle 561581481295655984767776160
Working Capital Days -125-19-282-17-31-35-3171-11-1
ROCE %6%12%17%19%17%16%11%11%21%21%15%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 54.24%54.24%54.23%54.22%54.22%54.22%54.22%54.22%54.19%54.09%51.58%51.58%
FIIs 3.79%3.62%3.68%3.71%3.94%3.94%4.01%4.19%4.15%3.74%4.87%4.88%
DIIs 1.73%1.72%1.83%1.91%1.44%1.47%1.55%1.62%1.63%1.78%5.16%5.25%
Public 40.24%40.42%40.26%40.15%40.37%40.34%40.20%39.96%40.01%40.40%38.39%38.30%
No. of Shareholders 58,71661,23262,82559,97063,46560,22762,83663,20065,56463,61164,20966,692

Shareholding Pattern Chart

No. of Shareholders

Asahi India Glass Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund 5,102,823 0.78 511.22,616,9992025-12-08 07:42:1394.99%
SBI Childrens Fund - Investment Plan 1,538,843 2.98 154.16N/AN/AN/A
Motilal Oswal Small Cap Fund 1,409,839 2.56 141.241,385,3052026-02-22 00:11:111.77%
SBI Automotive Opportunities Fund 720,000 1.44 72.13N/AN/AN/A
Aditya Birla Sun Life Value Fund 607,485 0.97 60.86N/AN/AN/A
Aditya Birla Sun Life Multi-Cap Fund 583,409 0.9 58.45551,8362026-02-22 00:11:115.72%
Aditya Birla Sun Life MNC Fund 556,973 1.63 55.8565,6722026-01-26 01:48:34-1.54%
Mahindra Manulife Small Cap Fund 411,193 1.03 41.19556,5122025-12-14 07:06:35-26.11%
Aditya Birla Sun Life Transportation and Logistics Fund 248,583 1.67 24.9N/AN/AN/A
Mahindra Manulife Business Cycle Fund 225,587 1.75 22.6230,7332026-02-22 00:11:11-2.23%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 15.2713.4915.0114.185.47
Diluted EPS (Rs.) 15.2713.4915.0114.185.47
Cash EPS (Rs.) 22.8820.3120.7720.2010.43
Book Value[Excl.RevalReserv]/Share (Rs.) 109.7996.8184.4671.7558.56
Book Value[Incl.RevalReserv]/Share (Rs.) 109.7996.8184.4671.7558.56
Revenue From Operations / Share (Rs.) 188.99178.55165.31130.4299.60
PBDIT / Share (Rs.) 32.8330.7433.3732.0819.37
PBIT / Share (Rs.) 24.9523.4626.8025.5213.93
PBT / Share (Rs.) 20.9817.8722.5020.548.04
Net Profit / Share (Rs.) 15.0013.0414.2013.634.99
NP After MI And SOA / Share (Rs.) 15.2713.4915.0114.185.47
PBDIT Margin (%) 17.3717.2120.1824.6019.44
PBIT Margin (%) 13.2013.1416.2119.5613.98
PBT Margin (%) 11.1010.0013.6115.748.07
Net Profit Margin (%) 7.937.308.5910.455.00
NP After MI And SOA Margin (%) 8.087.559.0710.875.49
Return on Networth / Equity (%) 13.9113.9317.5819.569.24
Return on Capital Employeed (%) 12.3214.9821.9823.0013.62
Return On Assets (%) 5.465.967.969.123.52
Long Term Debt / Equity (X) 0.730.540.360.490.69
Total Debt / Equity (X) 0.940.790.650.680.87
Asset Turnover Ratio (%) 0.740.860.930.810.62
Current Ratio (X) 1.081.031.081.140.88
Quick Ratio (X) 0.480.440.440.470.37
Inventory Turnover Ratio (X) 4.354.291.641.371.05
Dividend Payout Ratio (NP) (%) 13.0914.8213.327.050.00
Dividend Payout Ratio (CP) (%) 8.639.639.264.810.00
Earning Retention Ratio (%) 86.9185.1886.6892.950.00
Cash Earning Retention Ratio (%) 91.3790.3790.7495.190.00
Interest Coverage Ratio (X) 6.225.507.756.453.29
Interest Coverage Ratio (Post Tax) (X) 3.593.334.303.741.85
Enterprise Value (Cr.) 16978.7914685.5412209.0411553.988699.49
EV / Net Operating Revenue (X) 3.703.383.043.643.59
EV / EBITDA (X) 21.2719.6515.0514.8118.48
MarketCap / Net Operating Revenue (X) 3.193.002.743.303.11
Retention Ratios (%) 86.9085.1786.6792.940.00
Price / BV (X) 5.495.535.305.935.22
Price / Net Operating Revenue (X) 3.193.002.743.303.11
EarningsYield 0.020.020.030.030.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Asahi India Glass Ltd. is a Public Limited Listed company incorporated on 10/12/1984 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L26102DL1984PLC019542 and registration number is 019542. Currently Company is involved in the business activities of Manufacture of glass in primary or semi-manufactured forms (such as sheets & plate glass) including mirror sheets and wired, coloured, tinted, toughened or laminated glass. Company's Total Operating Revenue is Rs. 4311.61 Cr. and Equity Capital is Rs. 24.31 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Glass & Glass ProductsA-2/10, 1st Floor, WHS DDA Marble Market, New Delhi Delhi 110015Contact not found
Management
NamePosition Held
Mr. Sanjay LabrooChairman & Managing Director
Mr. Masao FukamiDy.Managing Director & CTO
Ms. Nisheeta LabrooDirector
Mr. Setsuya YoshinoDirector
Mr. Kamaljit KalkatDirector
Ms. Shradha SurDirector
Ms. Sheetal MehtaDirector
Mr. Masahiro TakedaDirector

FAQ

What is the intrinsic value of Asahi India Glass Ltd and is it undervalued?

As of 05 April 2026, Asahi India Glass Ltd's intrinsic value is ₹338.43, which is 58.88% lower than the current market price of ₹823.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.6 %), book value (₹145), dividend yield (0.24 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Asahi India Glass Ltd?

Asahi India Glass Ltd is trading at ₹823.00 as of 05 April 2026, with a FY2026-2027 high of ₹1,074 and low of ₹579. The stock is currently in the middle of its 52-week range. Market cap stands at ₹20,973 Cr..

How does Asahi India Glass Ltd's P/E ratio compare to its industry?

Asahi India Glass Ltd has a P/E ratio of 66.9, which is above the industry average of 40.20. The premium over industry average may reflect growth expectations or speculative interest.

Is Asahi India Glass Ltd financially healthy?

Key indicators for Asahi India Glass Ltd: ROCE of 12.4 % is moderate. Dividend yield is 0.24 %.

Is Asahi India Glass Ltd profitable and how is the profit trend?

Asahi India Glass Ltd reported a net profit of ₹367 Cr in Mar 2025 on revenue of ₹4,594 Cr. Compared to ₹343 Cr in Mar 2022, the net profit shows an improving trend.

Does Asahi India Glass Ltd pay dividends?

Asahi India Glass Ltd has a dividend yield of 0.24 % at the current price of ₹823.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Asahi India Glass Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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