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Dolat Capital Report
Asahi India Glass Ltd.'s Q1 FY22 Ebitda number beat estimate.
Revenue de- grew 26% QoQ to Rs 6.03 billion (automotive glass down 30% QoQ while building glass down 22% QoQ).
Operating margin remains strong at 19.6% led by resilient margin in building glass division.
Ebit margin for automotive glass contacted by 857 basis points QoQ to 8.1% mainly due to negative operating leverage and for architecture glass also contracted by 201 bps QoQ to 23.3%.
Asahi India is also entering into manufacturing of solar glass with Vishakha industry.
Total capex for the company would be Rs ~1.-1.2 billion and it will be funded through internal accruals.
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