ASAHI INDIA GLASS LTD ANNOUNCES UNAUDITED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH JUNE, 2017
by Shrutee K/DNS
New Delhi – AIS (Asahi India Glass Ltd.), India’s leading integrated glass Company announced its unaudited financial results for the first quarter ended 30th June, 2017 at its Board Meeting.
The consolidated financial performance highlights for the quarter ended 30th June, 2017 are as follows -
Sales (inclusive of Excise Duty) at Rs. 670.98 crores, reflected an increase of 8.60% over the previous period (Rs. 617.84 crores).
Operating EBIDTA i.e. Operating Earnings before Interest, Depreciation, Taxes and Amortisation was recorded at Rs. 109.85 crores registering an increase of 7.89% over the corresponding figure of Rs. 101.82 crores for the previous period.
Cash profit increased by 19.94% from Rs. 66.65 crores in Q4 FY 2016 to Rs. 79.94 crores in Q4 FY 2017.
PBT increased by 25.67% from Rs. 46.08 crores in Q1 FY2017 to Rs. 57.91 crores in Q1 FY2018.
PAT increased by 38.33% from Rs. 28.33 crores in Q1 FY2017 to Rs. 39.19 crores in Q1 FY2018.
The table below gives the details of the financial performance both on standalone and consolidated basis –
AIS – Financial Results for the first quarter ended 30th June, 2017
(Rs. Lakhs)
| ||||||
Particulars
|
Standalone
|
Consolidated
| ||||
2017
|
2016
|
Change (%)
|
2017
|
2016
|
Change (%)
| |
Sales
|
65,891
|
61,022
|
7.98
|
67,098
|
61,784
|
8.60
|
Operating EBIDTA
|
11,314
|
10,427
|
8.51
|
10,985
|
10,182
|
7.89
|
Cash Profit
|
8,329
|
6,923
|
20.31
|
7,994
|
6,665
|
19.94
|
Profit Before Tax
|
6,202
|
4,963
|
24.96
|
5,791
|
4,608
|
25.67
|
Profit after Tax
|
4,145
|
3,058
|
35.55
|
3,919
|
2,833
|
38.33
|
Speaking on the occasion, Mr. Sanjay Labroo, MD & C.E.O., AIS said – “Current macro environment has been largely positive on glass industry mainly due to strong foreign inflows, a good monsoon leading to pick up in rural demand, introduction of GST and massive improvement of credit available to good borrowers. There is strong demand of glass from automotive and construction segment and AIS has continued its momentum this quarter. Our operating margins remained under pressure from some cost increases. However, we managed to offset the same through better operations. A stable rupee also helped us.
We have also implemented some operational upgrades in our float glass plant at Roorkee leading to productivity increases from the next quarter. We also welcome the new regulations & standards from the government for architectural glass which shall be beneficial to everyone in the long term. As required by law, we have migrated to the new IndAS method of accounting and therefore, our results have been restated this quarter with minor upside on PAT coming from positives in depreciation. Overall, we continue to look forward to consistent growth in auto and architectural segments as well as a stable macro environment.”
About AIS:
Asahi India Glass Ltd. (AIS) is a joint venture between the Labroo family, Asahi Glass Co. Ltd. of Japan, and Maruti Suzuki India Limited. AIS began operations in 1987.
AIS, today, is a leading integrated glass company in India, manufacturing a wide range of international quality automotive safety glass, float glass and architectural processed and value added glass. AIS operates under three strategic business units (SBUs), namely, Auto Glass, Architectural Glass and Consumer Glass.
Auto Glass is India's largest manufacturer of world class automotive safety glass and is, in fact, one of the largest in the field in Asia. It is the sole supplier to almost all the OEMs and has a market share of approx. 77 per cent in the Indian passenger car industry.
Architectural Glass is formed as a result of management merger of Float & Glass Solutions (Processed Glass) SBUs. This SBU manufactures quality float glass and deploys an extensive network of 4 zonal offices and over 1000 distributors. It also markets a wide range of AGC products in India as its distribution partner.
Consumer Glass SBU is Company’s interface with end users for its range of automotive and architectural glass offerings. Impeccable, customized and consumer centric solutions is the key differentiator of Consumer Glass SBU. It includes GlasXperts – a retail initiative in the Architectural Glass segment and Windshield Experts which is India’s only automotive glass repair & replacement specialist.
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