ICICI Securities: Asahi India Glass - Benefits Of Fixed-Cost Reduction Comes To The Fore
A worker assembles the windshield of a Volkswagen Golf 6 in the Volkswagen AG factory in Wolfsburg, Germany, in 2008. (Photographer: Adam Berry/Bloomberg News)

ICICI Securities: Asahi India Glass - Benefits Of Fixed-Cost Reduction Comes To The Fore

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Asahi India Glass Ltd. Q2 FY21 operating numbers were a beat on all fronts as Ebitda margin came in at 19.6% (up 193 basis points) while revenues came in at Rs 6.2 billion (down just 1% YoY).

We remain positive on the stock due to -

1. strong recovery in auto segment expected in FY22 (expect 15-20% original equipment manufacturer volume growth);

2. faster growth in architectural segment on the back of robust domestic and increased curbs on imports;

3. leaner fixed-cost structure aided by structural measures, and

4. continued benefits of lower gas costs.

Click on the attachment to read the full report:

ICICI Securities Asahi Q2FY21 Results Update.pdf


This 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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.