Asahi India Glass turnaround net profit to Rs 20.63 crore in Q1FY16

Asahi India Glass (AIGL) declared its June 2015 quarter result. The company's revenue increased by 1.47 per cent to Rs 537 crore in Q1FY16 compared to same period in previous financial year. Its total expenditure decreased by 4.62 per cent to reach Rs 442.54 crore in Q1FY16 on yearly basis. AIGL's total expenditure declined due to a 41.73 per cent reduction in power and fuel expenses amounting to Rs 68.54 crore during the quarter. The company's raw material cost remained flat amounting to Rs 180.89 crore in Q1FY16 on yearly basis.

AIGL's EBITDA boosted by 44.82 per cent to Rs 94.45 crore in Q1FY16 as compared to same period in previous fiscal year. The company's EBITDA margin expanded by 527 basis points to 17.59 per cent in Q1FY16 on yearly basis. Its EBIT also rose by 123.68 per cent to Rs 67.26 crore in Q1FY16 on yearly basis as its depreciation expenses decreased by 22.65 per cent to Rs 27.19 crore during the quarter. AIGL posted net profit of Rs 20.63 crore in Q1FY16 against net loss of Rs 4.1 crore during Q1FY15. The company witnessed turnaround and net profit margin stood at 3.84 per cent in Q1FY16.

Considering the segment wise revenue, AIGL earned 58.29 per cent from Automotive Glass segment, a 36.57 per cent from Float glass segment and remaining 5.14 per cent from others segment during Q1FY16. As per geographic segment revenue the company earned 98 per cent from India segment and remaining 2 per cent from the Outside India segment during June 2015 quarter.

AIGL shareholding pattern indicates that FII holdings expanded by 24 basis points to 0.92 per cent and DII holdings remain unchanged to 0.54 per cent in June 2015 quarter. The stock is added in the Morgan Stanley Capital International (MSCI) India Index on May 12,2015. The stock on BSE increased by 3.85 per cent and trading at Rs 170 on intraday basis.

AIGL established in 1984 covers the entire spectrum of the automotive and architectural glass value chains. The company is an integrated glass solutions company for car and building glass segment. It provides end to end solutions right from manufacturing of glass, processing, fabrication and installation services. AIGL commands over 70 per cent market share in the Indian automotive glass market. It is a sand-to-solutions organization with products and services for institutional buyers as well as retail customers. The company has a wide range of products such as Automotive glass products, Architectural glass products, Glasxperts, 4G Solutions, AIS VUE.