Asahi India Glass Ltd. Q2 FY27 results

The quarter, explainedfrom the filing and the statements

Asahi India Glass Ltd. reported revenue of ₹1,586 cr for July to September 2026, +37.7% on the year and +12.2% on the quarter. That is faster than this quarter has grown in recent years (+1.4% on average), so the year-on-year number is not just the season. It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹5,609 cr, +19.7% on the four before.

Operating profit (EBITDA) was ₹346 cr, a margin of 21.8%, +548 bps on the year and −115 bps on the quarter. Over the last 8 quarters the margin has ranged from 15.6% to 23.0%, averaging 18.8%. Operating costs grew +28.7% against revenue growth of +37.7%, so more of each rupee of sales reached operating profit.

Net profit was ₹167 cr, +187.5% on the year and +12.2% on the quarter, with earnings per share of ₹6.56. Profit before other income, one-offs and tax grew faster, at +271.5%; other income, one-offs or tax held the headline back. The tax rate of 26% is in line with its recent average. Profit over the last four quarters totals ₹548 cr, +76.8% on the four before.

Of the 15 companies in Automobiles and components that have reported Q2 FY27 so far, Asahi India Glass Ltd. ranks 8th on revenue growth; the sector median is +33.0%. Its margin moved +548 bps on the year against a sector median of −98 bps.

A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models.

On earnings per share of ₹21.51 over the last four quarters, the stock at ₹925.50 trades at 43.0 times trailing earnings.

Questions to ask: none this quartereach one with its numbers and source

No check fired. That is a statement about the checks below, not a verdict on the company.

Also worth knowing

Could not run on this quarter: Exceptional items that recur, IPO money used as stated, Related-party transactions, Promoter pledges and allotments, Earlier promises against delivery. The filing did not carry these lines.

Where the profit change came fromSep '25 → Sep '26

Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.

The half year: balance sheet and cashfiled with Q2

Operating cash flow was 0.94× profit. Receivables at 37 days of sales (+0 days against the last year end). Inventory at 85 days of sales (−5 days).

From the filingauditor, IPO money, related parties, promoters

Inside the profitother income, one-offs, tax

Other income, line by line

• Profit/Loss on Sale and Discard of Property, Plant & Equipment (Net) (6M consolidated): 1.16 crore (one-off)consolidated cash flow statement p.49
• Interest and other non-operating income (Q2 consolidated): 5.19 crore (recurring)consolidated P&L p.36

Tax: Consolidated tax expense of ₹59.45 crore on Profit before tax of ₹226.73 crore

Auto vitalsthe numbers this business is run on

Worked out from filed numbers. Automotive Glass Share of Gross Segment Revenue: Automotive Glass Gross Revenue (1,065.92) / Total Gross Segment Revenue (1,918.29) * 100

What management saidquoted, with source

• we furnish herewith the unaudited financial results of the Company (Standalone and Consolidated) along with Limited Review Reports for the second quarter and half year ended 30th September, 2026press release, outcome letter p.1
• The meeting of the Board of Directors commenced at 11:00 a.m. and concluded at 1:30 p.m.press release, outcome letter p.1
• Statement of Unaudited Financial Results for the second quarter and half year ended 30th September, 2026press release, p.35

Segments

Every quartersame rules, every quarter