Leading auto glass supplier faces profit decline despite revenue growth.
31 Jul 2024 | 1792 Views | By Shahkar Abidi
Asahi India Glass Ltd, a supplier to the automotive industry, reported a consolidated net profit of Rs 76.69 crore during Q1FY25- witnessing a drop of 25.41% against Q1FY24. The company's operating revenue on the other hand stood at Rs 1,135.83 crore in Q1FY25, a jump of 4.14% compared with Q1FY24.
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Asahi India Glass Ltd, a supplier to the automotive industry, reported a consolidated net profit of Rs 76.69 crore during Q1FY25- witnessing a drop of 25.41% against Q1FY24. The company's operating revenue on the other hand stood at Rs 1,135.83 crore in Q1FY25, a jump of 4.14% compared with Q1FY24.
Asahi India Glass, with close to 77% market share in it's segment, offers a range of products and solutions including laminated glass for car windscreens, tempered glass for sidelites, backlites and car windscreens as well as sub-assembly and various value-added glass products.
Asahi India Glass was formed as a joint venture amongst the Labroo family, Asahi Glass Co. Ltd, and Maruti Udyog Limited, starting its operations in 1987. Today, it operates and serves customers worldwide, possessing about 13 plants and sub-assembly units.
The company is a supplier to a wide range of products for manufacturers of passenger and commercial vehicles, including trucks, buses, railways, metros, tractors and off-highway vehicles. It counts OEMs such as Maruti Suzuki, Hyundai Motors, KIA Motors, Tata Motors, Mahindra
& Mahindra, Toyota, MG Motor India, Honda Cars India, Volkswagen India, RenaultNissan, Volvo, and Ashok Leyland, among others as its clients.