Fundamental Analysis

ASAHI INDIA GLASS LTD. 

Ticker : 515030 
BUY : Rs 418.20 
Target : Rs 470

Asahi India Glass Limited, known as AIS, is a glass solutions & manufacturing company in India, which manufactures automotive safety glass, float glass, architectural processed glass, and glass products. On the consolidated quarterly front, the company recorded a robust increase of 24.69 per cent in the net sales and operating income, which stood at Rs 796.53 crore for Q2FY22 as compared to the net sales & operating income of Rs 638.82 crore reported for Q2FY21. The operating profit stood at Rs 190.57 crore in Q1FY22, gaining 50.37 per cent strongly from Rs 126.73 crore posted in Q2FY21. The company's net profit was recorded at Rs 77.44 crore in Q2FY22, improving significantly from Rs 33.91 crore earned in Q2FY21. The board of directors of the company approved a feasibility study of expansion opportunities over the next 3-4 years. Besides continuing expansions for automotive glass, AIS is set to undertake a detailed study for investments in greenfield projects. Hence, we recommend BUY.