Dolat Capital: Asahi India Glass Posted In-Line Q1 Numbers; Growth Aided By Strong Free Cash Flow

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Asahi India Glass Ltd. posted inline numbers in Q1. Revenue de-grew by 68% YoY to Rs 2.28 billion (versus estimate Rs 2.11 billion) led by 53% YoY fall in architecture glass division to R 1.37 billion, and 80% YoY de-growth in automotive glass division to Rs 839 million due to lockdown.Ebitda loss stood at Rs 310 million (versus estimate Rs 83 million) due to negative operating leverage and one off Rs 300 million for furnace maintenance cost.We expect the company would be a key beneficiary of revival in volume of automotive and architectural glass segment from Q2. Moreover, strong traction in aftermarket business will also aid profitability.In Automotive glass business, Asahi India Glass would be the key beneficiary of uptick in volume of Maruti Suzuki India Ltd. (current share of business from MSIL is above 90%).Architectural glass business has also shown strong recovery from July onward, benefiting from reduced import in India from Asian countries. Prices are also firm due to supply constraint..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Dolat Capital: Asahi India Glass Posted In-Line Q1 Numbers; Growth Aided By Strong Free Cash Flow

Dolat Capital: Asahi India Glass Posted In-Line Q1 Numbers; Growth Aided By Strong Free Cash Flow

Choose a plan