Asahi India Glass Ltd Announces Unaudited Financial Results For The 1st Quarter Ended 30th June 2016

Press Release (ePRNews.com) - NEW DELHI, India - Aug 19, 2016 - AIS (Asahi India Glass Ltd.), India’s leading integrated glass Company announced its unaudited financial results for the first quarter ended 30th June, 2016 at its Board Meeting held today.

The consolidated financial performance highlights for the quarter ended 30th June, 2016 are as follows –

 Net sales at Rs. 579.71 crores, reflected an increase of 8.06% over the previous period (Rs. 536.45 crores).

 Total income from operations at Rs. 580.09 crores increased by 8.03% over the corresponding figure of the previous period of Rs. 536.99 crores.

 Operating Earnings before exchange loss/(gain), Interest, Depreciation, Taxes and Amortisation (Operating EBIDTA) reached Rs. 111.24 crores registering an increase of 5.00% over the corresponding figure of Rs. 105.94 crores for the previous period.

 Cash profit stands at Rs. 67.36 crores as against the corresponding figure of Rs. 57.92 crores in the previous period registering an increase of 16.30%.

 Profit before Tax for the first quarter ended 30th June, 2016 was recorded at Rs. 40.14 crores as against Rs. 30.73 crores in the previous period recording an increase of 30.62%.

 Profit after Tax for the first quarter ended 30th June, 2016 recorded an increase of 21.26% at Rs. 23.21 crores as against Rs. 19.14 crores against the previous period.

Speaking about the performance of AIS, Mr. Sanjay Labroo, MD & C.E.O., AIS said –

“Our performance this quarter was in line with our expectations. With the improvement in macro-economic scenario, compared to last quarter our sales grew by 8% and operating profits grew in line with sales. The key area of concern remains high exchange rate volatility and continued imports which impacted us very severely.

We look forward to meet our budgets against the backdrop of good business environment marked by good monsoon this year and positive reforms like GST in the near future.”

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 four strategic business units (SBUs), namely, Auto Glass, Architectural Glass, Consumer Glass and Solar 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. 76 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.
Solar Glass is the newly formed SBU of the Company. Given the limited availability of fossil fuel in the country, AIS is tapping the renewable energy space with its solar glass offerings.

For further information please contact:

Mr. Mihir Mehta
Asahi India Glass Limited
Unit no. 203 to 208,
Tribhuwan Complex, Ishwar Nagar,
Mathura Road, New Delhi – 110 065.
Contact: 9920718174
Email: mihir.mehta@aisglass.com
Websitehttp://www.aisglass.com/ais-vue-upvc-windows-better-all-c…

Source : ASAHI INDIA GLASS LTD

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