Asahi India Glass Limited Earnings Summary — Q4 FY2026
Asahi India Glass Reports Strong Q4 FY2026 with 45% Net Profit Surge and record Revenue
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 4 consecutive quarters.
- Revenue of ₹1,413 Cr is 15.0% higher year-on-year.
- Revenue has compounded at 11.6% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹149 Cr is 165.4% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 36.6% annualised across the period.
- Operating margin stands at 23.0% in Q1 FY2027.
- Operating margin expanded by 731 bps year-on-year.
- Over the last two years operating margin has expanded by 694 bps.
- PBT margin is 14.3%.
- Expense growth of 5.1% remained below revenue growth of 15.0%.
- Operating profit of ₹325 Cr is 68.8% higher year-on-year.
- Operating leverage continues to improve.
- 5 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 83/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 1,413 | 1,354 | 1,256 | 1,151 | 1,229 | 1,180 | 1,124 | 1,158 | 1,133 | 1,105 |
| Expenses | Stable | 1,089 | 1,067 | 1,005 | 963 | 1,036 | 983 | 949 | 945 | 951 | 927 |
| Operating Profit | Accelerating | 325 | 287 | 251 | 188 | 192 | 197 | 175 | 213 | 181 | 178 |
| Operating Margin | Improving | 23.0% | 21.2% | 19.9% | 16.3% | 15.7% | 16.7% | 15.6% | 18.4% | 16.0% | 16.1% |
| Other Income | Volatile | 6 | 10 | -2 | 11 | 11 | 9 | 46 | 7 | 5 | 2 |
| Interest | Improving | 47 | 42 | 43 | 59 | 59 | 33 | 32 | 31 | 32 | 33 |
| Depreciation | Improving | 81 | 75 | 73 | 69 | 68 | 49 | 49 | 48 | 47 | 48 |
| Profit Before Tax | Accelerating | 203 | 180 | 133 | 71 | 76 | 124 | 140 | 141 | 107 | 100 |
| Tax | Volatile | 54 | 47 | 33 | 12 | 21 | 33 | 36 | 46 | 30 | 27 |
| Net Profit | Strong Uptrend | 149 | 132 | 100 | 57 | 56 | 92 | 105 | 95 | 78 | 74 |
| Net Margin | Accelerating | 10.6% | 9.8% | 7.9% | 4.9% | 4.6% | 7.8% | 9.4% | 8.3% | 6.9% | 6.7% |
Key Takeaways
- Revenue reached a multi-quarter high of ₹1,354 crores, reflecting strong demand in automotive and architectural segments.
- Operating Profit Margin improved significantly to 21%, driven by operational efficiencies despite rising costs.
- Net Profit surged 44.5% year-on-year to ₹133 crores, the highest quarterly performance in the provided cycle.
- Company’s net worth saw a massive jump to over ₹3,900 crores by March 2026, strengthening the balance sheet.
- Interest expenses scaled to ₹42 crores for the quarter, reflecting a period of high leverage needed for capex.
- Fixed assets grew substantially to ₹4,532 crores as the company continues its heavy investment cycle.
- Operating Profit (EBITDA) grew 45.7% year-on-year, outpacing revenue growth and suggesting margin expansion.
- The 70% market share in the passenger car automotive glass segment remains a core competitive advantage.
Management Guidance
Management remains focused on a heavy capital expenditure cycle ($1,400+ Cr) across FY25-26 to yield future revenue growth. Strategic alignment with Maruti Suzuki continues to provide a permanent demand floor.
Sentiment Shift
Improving
The sharp recovery in operating margins to 21% and record quarterly net profit marks an improvement over the margin compression seen in mid-FY26.
Outlook
The outlook remains positive based on the commissioning of new capacities, although free cash flow is expected to stay constrained until the current capex cycle concludes and incremental revenues stabilize.
From the Annual Report (Key Quotes)
“AIS is a dominant oligopolist in the Indian glass industry, commanding roughly 70% share in the passenger car automotive glass segment.”
“The last 5 years show a significant acceleration to 16% CAGR as value-added products gain traction.”
“Company has shifted from a leveraged balance sheet in 2015 to a more robust structure.”
“Current ROCE is lower due to a massive capital expenditure cycle which has yet to fully yield revenue.”
Official Quarterly Documents
This summary is AI-generated from Asahi India Glass Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.