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Asahi India Glass Limited (ASAHIINDIA) Fair Value & Analysis

Consumer Cyclical · IN · Market cap ₹245B (≈ $2.6B) · ISIN INE439A01020

What is Asahi India Glass Limited really worth?

AI Asahi India Glass Limited ASAHIINDIA · BSE
Price₹955.50
Fair Value₹233.48
Upside−75.6%
Quality41/100

Below-average quality, and trading another 309% above our fair value of ₹233.48.

As of Aug 19, 2026, the fair value of Asahi India Glass Limited is ₹233.48 per share against a price of ₹955.50, so the fair value sits 76% below the price. A model estimate blended from multiple valuation models, recalculated regularly.

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Risks

!Expensive Growth (revenue 5y +15.3 %/yr)
!Thin margins · 8.5% net margin
!Low debt · negative free cash flow
!Moderate moat 49/100
Evidence: High Range ₹163.44 – ₹303.52

Fair value as of: Aug 19, 2026

From 14 valuation models · updated 18 days ago

Share price +3.1% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (₹303.52). The favourable scenario is already priced in.
  • Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (₹163.44 to ₹303.52) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

₹1,066 ₹292.63 Fair Value ₹233.48 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 19, 2026.

How to read this chart

60‑month range ₹292.63 – ₹1,066 · fair‑value band ₹163.44 – ₹303.52 · the ₹955.50 price screens above the ₹233.48 fair value. Dashed = 300-day average. As of Aug 19, 2026.

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Analysis

Asahi India Glass Limited (ASAHIINDIA) currently trades at ₹955.50, while our model-based Fair Value estimate is ₹233.48, implying the stock looks roughly 309.2% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Consumer Cyclical sector. Bull case: the Growth Earnings group reads highest at a median of ₹233.48 per share, and 0 of the 14 models we run sit above the ₹955.50 price. Bear case: the Asset-Based group reads lowest at ₹103.34, and 14 of the 14 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Asahi India Glass Limited generated revenue of ₹51.7B at a net margin of 8.5%. Revenue grew 15.0% year over year. It earns a return on equity of 10.5%. Net debt stands at ₹18.1B. Fundamentals as of Aug 19, 2026

Our scenario range runs from ₹163.44 (bear case) to ₹303.52 (bull case); at ₹955.50, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 23% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at −38% fair-value upside, at −76%, ASAHIINDIA screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹7.54 per share, which is 3.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence ₹133.27 ₹145.90 ₹207.93 76
EPV ₹131.05 ₹163.26 ₹191.89 74
ROIC Compounder ₹131.05 ₹172.90 ₹248.36 71
All 14 models by family
Earnings-Based
Graham-Dodd ₹91.95 ₹362.26 ₹491.87 64
Lynch FV ₹89.44 ₹127.78 ₹166.11 61
PEG = 1.0 ₹89.44 ₹127.78 ₹166.11 57
EPV ₹131.05 ₹163.26 ₹191.89 74
Multiples
P/E Multiple ₹223.10 ₹297.47 ₹371.84 63
P/S Multiple ₹172.40 ₹229.87 ₹287.33 58
P/B Multiple ₹172.40 ₹229.87 ₹287.33 55
EV/EBIT ₹283.87 ₹395.66 ₹507.45 66
EV/EBITDA ₹272.79 ₹380.88 ₹488.97 67
EV/Revenue ₹110.17 ₹179.45 ₹248.73 53
Asset-Based
NCAV (Graham) ₹77.12 ₹103.34 ₹154.24 54
Economic Profit
Residual Income best evidence ₹133.27 ₹145.90 ₹207.93 76
ROIC Compounder ₹131.05 ₹172.90 ₹248.36 71
Growth Earnings
Growth-Adj P/E ₹163.44 ₹233.48 ₹303.52 67

Widest divergence: Growth Earnings (₹233.48) versus Asset-Based (₹103.34). Highest evidence: Residual Income (76).

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Key figures & financial health

P/E ratio 55.2
P/S ratio 3.88 P/E × margin
EPS (TTM) ₹17.32 price ÷ EPS = P/E 55.2
Dividend yield 0.2% payout 10.9%
Net margin 7.0% FY2026
Return on equity 10.5% TTM
More key figures
Profitability
Return on assets (EBIT) 11.3% avg 5y
Operating margin 17.3% TTM
Growth
Revenue (TTM) ₹51.7B TTM
Revenue growth (YoY) +15.0% 3y avg +7.0%
EPS growth (YoY) +153%
Balance sheet & cash flow
Free cash flow −₹1.6B FY2026
Net debt ₹18.1B FY2026

Figures from reported company fundamentals · as of Aug 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 43 · Market factors (momentum, volatility) 61

Profitability 48
Margins and returns on capital today
Quality Growth 52
Are margins and returns improving?
Cashflow 28
Earnings quality: real cash, not paper profit
Fin. Strength 58
Balance sheet, leverage, solvency risk
Investment 13
Disciplined investing over empire-building
Low Volatility 79
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 49
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Asahi India Glass Limited, an integrated glass and windows solutions company, manufactures and supplies various glass products in India and internationally. It operates in two segments, Automotive Glass and Float Glass.

Full company description

Asahi India Glass Limited, an integrated glass and windows solutions company, manufactures and supplies various glass products in India and internationally. It operates in two segments, Automotive Glass and Float Glass. The company offers various automotive glass products, including IR cut and acoustic, antenna printed, heated windscreens, head up displays, and windscreens with rain sensor and ADAS; dark green UV cut, solar control, privacy, water repellent, encapsulated glasses, plug in windows, sliding windows for buses and trucks, IGU for metro and railways, and thinner and laminated sidelites; backlites with defogger, privacy and solar control glasses, and antenna printed backlites; and fixed laminated, tilt and slide, panoramic, bullet resistant glasses, and metro sunroofs, as well as refrigerator shelf and door glasses, and washing machine-flats/bends. It also provides a range of architectural glass products, such as clear float, heat absorbing, solar control, patterned reflective, sunshield, patterned sunshield, ecosense-energy efficient, impact resistance, burglar resistant, noise cancelling, valuglas, securityplus, insulated-glazed, heat-strengthened, swytchglas-electrochromatic, integrated blinds, pyrobel-fire resistant, and energy-efficient reflective glasses, as well as uPVC and aluminum windows. In addition, the company offers designer glasses, including frosted, mesh and colored laminated, fabric laminated, printed, and acid etched glasses, as well as distortion-free mirrors, ceramic frit, disegno, and back painted glasses in vibrant colors for interiors; and glass, window, and door solutions. Further, it provides car glass repair and replacement services. Asahi India Glass Limited was incorporated in 1984 and is based in Gurugram, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Asahi India Glass Limited reported revenue of ₹49.1B in FY2026 versus ₹31.5B in FY2022, a compound +11.7%/yr. Reported net income was ₹3.4B in FY2026, compounding 0.0%/yr from FY2022.

Growth Quality 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹49.1B
Latest YoY
+7.8%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.0%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.3%
Avg. revenue growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+7.7%
Value creation/yr (5Y, in INR) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+16.6% · in INR
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+16.4%
Dividend yield0.2%
Operating margin (EBIT) Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.12.6% (2021) → 12.9% (2026) · steady
Worst earnings drop30% (2021) · in INR
Revenue +11.7%/yr
FY22 ₹31.5B
FY23 ₹40.1B
FY24 ₹43.1B
FY25 ₹45.5B
FY26 ₹49.1B
Net income 0.0%/yr
FY22 ₹3.4B
FY23 ₹3.6B
FY24 ₹3.3B
FY25 ₹3.7B
FY26 ₹3.4B

ASAHIINDIA screens 309% overvalued. Compare with O'Reilly Automotive, Inc →

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Cite: Fair Value Calculator (2026). "Asahi India Glass Limited Fair Value". https://www.fairvalue-calculator.com/stock/ASAHIINDIA.BSE

Peer Group

Auto Parts · 641 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 41 · Bottom 25%
Fair Value upside −76% · Bottom 25%
Return on equity (TTM) 10% · Above median
Return on assets 5% · Above median
Net margin (TTM) 8% · Above median
Operating margin (TTM) 17% · Top 25%
Revenue growth 15% · Above median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 0.40× · Higher than 75% of peers

Valuation Multiples vs Auto Parts median · lower = cheaper

P/E (TTM) 55.2× · Pricier than 75% of peers
P/B 6.24× · Pricier than 75% of peers
P/S (TTM) 4.74× · Pricier than 75% of peers
EV/EBITDA 24.2× · Pricier than 75% of peers
PEG 0.76× · Cheaper than median

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Auto Parts stocks, each showing price versus our Fair Value estimate (as of Aug 19, 2026).

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Fuyao Glass Industry Group 600660 ¥57.67 ¥84.47 +46%
Samvardhana Motherson International Limited MOTHERSON ₹165.30 ₹80.63 −51%
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Genuine Parts Company GPC $137.51 $58.07 −58%
Bosch Limited BOSCHLTD ₹48,700 ₹11,534 −76%
Ningbo Tuopu Group 601689 ¥45.82 ¥28.28 −38%
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Frequently asked questions

Is Asahi India Glass Limited (ASAHIINDIA) overvalued or undervalued?
As of Aug 19, 2026, our model estimates a fair value of ₹233.48 versus a price of ₹955.50, about −76% upside (overvalued).
What is the fair value of ASAHIINDIA?
Our model-based fair value for Asahi India Glass Limited is ₹233.48 (as of Aug 19, 2026), built from audited fundamentals. The current price: ₹955.50.
What is the quality score of ASAHIINDIA?
Asahi India Glass Limited has a Quality Score of 41/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Asahi India Glass Limited (ASAHIINDIA)?
Our model-based price target is the fair value of ₹233.48 (as of Aug 19, 2026) from 14 valuation models. Cautious scenario ₹163.44, optimistic scenario ₹303.52. It is a calculation from audited fundamentals, not an analyst target.
What is the Asahi India Glass Limited stock forecast for 2026?
Our models put fair value at ₹233.48, about −76% upside versus a price of ₹955.50 (overvalued). Cautious scenario ₹163.44, optimistic scenario ₹303.52. The calculation is refreshed regularly with new filings.
What is the revenue of Asahi India Glass Limited (ASAHIINDIA)?
Asahi India Glass Limited reported trailing-twelve-month revenue of about ₹51.7B (latest available figure, as of Aug 19, 2026).
What is the net profit margin of ASAHIINDIA?
The net profit margin of Asahi India Glass Limited is about 8.5%, meaning it keeps roughly 8.5% of revenue as net income. Based on the latest reported figures.
Does Asahi India Glass Limited pay a dividend?
Asahi India Glass Limited currently shows a dividend yield of about 0.20% relative to its recent price (as of Aug 19, 2026).
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