Asahi India Glass Limited · NSE:ASAHIINDIA
Asahi India Glass — Q2 FY27 Earnings Presentation
40 slides from Asahi India Glass's earnings presentation, Nov 3, 2026
Slide 1: Exchange filing cover letter
,/',-.. < AIS > ~ 3rd November, 2026 Ref. No.: 102339/S/O/L-1/2026-27 The Manager, The Manager, Listing/l\farket Operation, Corporate Relationship Department, National Stock Exchange of India Ltd., BSE Limited, Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra - Kurla Complex, Dalal St
Slide 2: Earnings Release Q2 & H1 FY27 Consolidated Results
~ < .........,,,,, A1S > Earnings Release Asahi India Glass Ltd. ASAHI INDIA GLASS LIMITED Q2 & H1 FY27 Consolidated Results Tuesday, 3rd November 2026, Gurugram – Asahi India Glass Limited (AIS), India’s leading value-added and integrated glass solutions company, announced its Unaudited Financial R
Slide 3: Key Operational Highlights and Management Commentary
~ < .........,,,,, A1S > Asahi India Glass Ltd. Key Operational Highlights • Stabilized 12 new models (Automotive) in Q2FY27. • Ramp up of new Phase 3 tempered expansion in Patan as well as Laminated expansion in Chennai. Management Commentary Speaking on the occasion Mr. Sanjay Labroo, Chairman & M
Slide 4: About Asahi India Glass Limited (AIS)
About Asahi India Glass Limited (AIS) Asahi India Glass Limited (AIS) was incorporated in 1984. It is India’s leading integrated glass solutions provider, with capabilities spanning the entire automotive and architectural glass value chain, from float glass manufacturing to processing, fabrication,
Slide 5: Asahi India Glass Limited Q2 & H1 FY27
Asahi India Glass Limited Investor Presentation Q2 & H1 FY27
Slide 6: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Asahi India Glass Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any se
Slide 7: Performance Highlights
Performance Highlights
Slide 8: Management Commentary
Management Commentary Speaking on the occasion Mr. Sanjay Labroo, Chairman & Managing Director, Asahi India Glass Limited said, “I am pleased to share that Q2 FY27 has been our best-ever quarter of financial performance. On a YoY basis, our net sales grew 36.9% to ₹1,591 crores, and EBITDA grew 76.4
Slide 9: Key Highlights: Quarterly and Half Yearly Consolidated Performance
Key Highlights: Quarterly and Half Yearly Consolidated Performance Q2 Q1 (₹ Cr) Total Income Gross Profit EBITDA PAT +25% 52.9% 57.7% 16.8% 22.7% 4.7% 10.5% 24.9% CAGR 3,010 Gross Margin (%) EBITDA Margin (%) PAT Margin (%) 2,402 +37% 1,591 1,738 +70% 1,162 +180% 1,271 682 895 316 655 402 351 167 1,
Slide 10: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (₹ Cr) Q2FY27 Q2FY26 YoY Q1FY27 QoQ H1FY27 H1FY26 YoY Q2 FY27 Key Financial Highlights Total Income 1,591.0 1,162.2 36.9% 1,419.1 12.1% 3,010.1 2,401.7 25.3% COGS 695.7 507.4 576.3 1,272.0 1,130.5 • Strong revenue growth of 36.9% YoY and 12.1% QoQ. Gr
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (₹ Cr) Sep-26 Mar-26 Assets (₹ Cr) Sep-26 Mar-26 Equity 0 0 Non Current assets Equity Share capital 25.5 25.5 Property, Plant and Equipment 4,097.8 3,970.3 Other Equity 4,172 3,906.6 Capital work-in-progress 365.8 444.6 Non Controlling Interest 2.1 2.1
Slide 12: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (₹ Cr) H1FY27 H1FY26 Net Profit Before Tax 429.4 146.3 Adjustments for: Non Cash Items / Other Investment or Financial Items 250.7 244.1 Operations before working capital changes 680.1 390.5 Changes in working capital (268.8) (215.2) Cash generated from O
Slide 13: Company Overview
Company Overview
Slide 14: AIS at a Glance — India's Integrated Glass Leader
AIS at a Glance — India’s Integrated Glass Leader Sand-to-solutions glass maker for India’s cars, buildings and homes ₹5,031 Cr ~80% 2,150 TPD 15 + 11 8,100+ 1,424+ FY26 Total Income Share of Indian PV glass Float glass capacity Manufacturing units + advanced Employees and workers Stockists across I
Slide 15: Our Pedigree — Born from India's Auto Localisation Drive
Our Pedigree — Born from India’s Auto Localisation Drive Maruti’s localisation push gave birth to AIS in 1984 The inception Early 1980s Indigenisation Component JVs 1984 → 1987 Government of India and Suzuki Motor MUL (now MSIL) starts buying components Joint ventures planned for many Mr. Sanjay Lab
Slide 16: Four Decades of Meeting India's Glass Requirements
Four Decades of Meeting India’s Glass Requirements From a single-plant, single-product, single-customer JV to an integrated glass powerhouse Soniyana F3 float plant commissioned; India’s first green hydrogen use in glass 2026 2025 Float line cold repair; commenced Kadi sub-assembly & DOJO with MSIL
Slide 17: Manufacturing Plant Locations – Pan India Footprint
Manufacturing Plant Locations – Pan India Footprint 15 manufacturing units and 11 advanced warehouses cum sub-assembly units, sited in India’s automotive and construction hubs Infrastructure Glass Capabilities Sr. State Location Sub- No Advanced Automotive Float Architectural Fire-Rated Soft Hard uP
Slide 18: Segment Overview
Segment Overview
Slide 19: Business Segments — Three Integrated SBUs
Business Segments — Three Integrated SBUs Float glass feeds the automotive and consumer businesses; the consumer SBU takes AIS products to the end customer Automotive Architectural Consumer Glass Glass SBU Glass SBU SBU Largest automotive glass player in India Value-added architectural glass leader
Slide 20: Automotive Glass — Product Portfolio & Customers
Automotive Glass — Product Portfolio & Customers One of India's leading integrated auto glass maker Product portfolio Key customers — mobility & appliance OEMs of consolidated Windshields Acoustic Windscreen; IR Cut revenue Windscreen; IR Cut and Acoustic Windscreen; Antenna Printed Windscreen; Heat
Slide 21: Automotive Glass — Engineering Edge & EV Readiness
Automotive Glass — Engineering Edge & EV Readiness In-house machine building & tooling EV-ready glass technologies Recent wins & recognition • Only glass maker in India with in-house design & • Marsroof: illuminated laminated panoramic sunroof development of auto-glass machinery • Windshield up to B
Slide 22: Automotive Glass — Growth Drivers & Financials
AIS Automotive Glass — Growth Drivers & Financials Growth drivers — more vehicles, more glass per vehicle, more value per pane Greater Indian market Premiumisation Increase in glass adoption of Rising AIS share 01 growth volume 02 03 04 05 & new products area per vehicle value-added of business upsi
Slide 23: Architectural Glass SBU — Product Portfolio & Customers
Architectural Glass SBU — Product Portfolio & Customers Float glass is the upstream foundation of the sand-to-solutions chain, feeding both building and auto customers Product portfolio Key customers — developers to fabricators Float glass Clear Float Glass; Tinted Heat-absorbing glass Energy-effici
Slide 24: Architectural Glass SBU — Growth Drivers & Financials
Architectural Glass SBU — Growth Drivers & Financials Growth drivers — urbanisation, green buildings and fairer trade Greater emphasis on Green Glass as a façade Urbanisation and real Rising Premiumisation and 01 02 03 buildings and energy 04 performance element — estate development- value-added gla
Slide 25: Consumer Glass SBU — Brands & Customers
Consumer Glass SBU — Brands & Customers One direct-to-consumer platform for homes and cars: windows, glass lifestyle solutions and auto-glass repair Brands & product suite Customers & channels End-to-end door and window solutions in uPVC & aluminium systems combining sound insulation, weather resist
Slide 26: Consumer Glass SBU — Growth Drivers & Financials
Consumer Glass SBU — Growth Drivers & Financials Growth drivers — aspirational homes and a growing car parc Premium housing and Acoustic, thermal & UV Urban noise, pollution and Shift from unorganised 01 02 03 04 renovation demand performance windows heat fabricators to brands Glass in interiors — R
Slide 27: Way Forward
Way Forward
Slide 28: Capacity Today and the Build-out Ahead
Capacity Today and the Build-out Ahead Every project passes four filters: Manufacturing integration -> Customer proximity -> Return rationale -> Long-term competitiveness Installed capacity Capex & build-out roadmap Product FY25 FY26 Plants / note FY23–26 ₹3,160 Cr Build Bawal, Roorkee, Chennai, • S
Slide 29: Strategic Pillars Anchoring Long-term Value
Strategic Pillars Anchoring Long-term Value Deep Localisation & Self-Reliance Innovation & Technology Leadership Scale & Cost Leadership Building capability in India to cut import dependence, in step Advanced design, in-house tooling and digital tools for high- Japanese quality at Indian cost, ancho
Slide 30: Historical Financial Performance
Historical Financial Performance
Slide 31: Financial Performance — Five-year Trends
Financial Performance — Five-year Trends (₹ Cr) Revenue EBITDA & EBITDA Margin % PAT & PAT Margin % +12% p.a. 24.5% 20.1% 17.1% 17.3% 19.1% 10.7% 9.0% 7.4% 7.9% 6.9% 5,031 4,626 EBITDA Margin (%) PAT Margin (%) 4,366 4,035 3,190 959 780 811 798 747 343 362 367 345 325 FY22 FY23 FY24 FY25 FY26 FY22 F
Slide 32: Historical Profit & Loss Statement
Historical Profit & Loss Statement Particulars (₹ Cr) FY26 FY25 FY24 FY23 FY22 Total Income 5,031.0 4,626.5 4,365.9 4,035.2 3,189.7 COGS 2,251.8 2,336.2 2,278.8 1,997.6 1,382.7 Gross Profit 2,779.2 2,290.3 2,087.0 2,037.5 1,807.0 Gross Margin (%) 55.2% 49.5% 47.8% 50.5% 56.7% Employee Benefit Expens
Slide 33: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (₹ Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Assets (₹ Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Equity Non Current assets Equity Share capital 25.5 24.3 24.3 24.3 24.3 Property, Plant and Equipment 3,970.3 3,454.5 2,093.0 1,944.5 1,989.0 Other Equity 3,906.
Slide 34: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (₹ Cr) FY26 FY25 FY24 FY23 FY22 Net Profit Before Tax 458.8 512.8 442.6 563.3 510.7 Adjustments for: Non Cash Items / Other Investment or Financial Items 477.8 274.3 304.6 239.1 261.9 Cash generated from operations before working capital changes 936.6 787.
Slide 35: Sales Mix Trends
Sales Mix Trends (₹ Cr) Segment Revenue1 Segment PBT Segments PBT (₹ Cr) FY26 FY25 FY24 FY23 FY22 Segments Revenue (₹ Cr) FY26 FY25 FY24 FY23 FY22 Automotive Glass 367.1 360.3 315.3 161.9 168.9 Automotive Glass 3,383.0 3,010.9 2,666.0 2,197.3 1,613.8 Float Glass 246.6 200.8 264.2 503.3 465.6 Others
Slide 36: Annexure
Annexure
Slide 37: ESG Highlights — FY26
ESG Highlights — FY26 Cleaner energy, circular materials, a safer workforce and responsible value creation ENVIRONMENT PEOPLE & WORKPLACE Energy & Climate Circularity & Waste Water Stewardship 43% 25–30% 5,63,826 KL Renewable electricity in of glass input by value total water withdrawal 8,124 100% 5
Slide 38: Leadership: Management Team & Board of Directors
Leadership: Management Team & Board of Directors Promoter-led management backed by a ten-member Board with five Independent Directors Sanjay Labroo Chairman & Managing Director Promoter; leads both the Board and the executive team MANAGEMENT TEAM BOARD OF DIRECTORS Masao Fukami Anil Ahuja Shashank D
Slide 39: Capital Allocation
Capital Allocation Largest investment cycle in AIS history, funded with discipline — Majority of profit reinvested in the business EQUITY INFUSIONS • 1984–2025 1984 2013 SEP 2025 Company Incorporated ₹250 Cr ₹1,000 Cr India Auto Safety Glass Pvt. Ltd. RIGHTS ISSUE QIP CAPITAL DISCIPLINE DEBT / EQUIT
Slide 40: Thank You
Thank You Investor Relations Advisor Asahi India Glass Limited CIN: L26102DL1984PLC019542 Strategic Growth Advisors Pvt. Ltd. Mr. Gopal Ganatra, Executive Director CIN: U74140MH2010PTC204285 CMD’s Office & Investor Relations, Shikha Puri — [email protected] | +91 98192 82743 Email id: investorre