AIS (ASAHI INDIA GLASS LTD.) ANNOUNCES UNAUDITED FINANCIAL RESULTS OF Q1 ENDED 30TH JUNE, 2017

 AIS (ASAHI INDIA GLASS LTD.) ANNOUNCES UNAUDITED FINANCIAL RESULTS OF Q1 ENDED 30TH JUNE, 2017

Asahi

 New Delhi, 10th August, 2017 – AIS (Asahi India Glass Ltd.), India’s leading integrated glass Company announced its unaudited financial results for the first quarter ended    30th June, 2017 at its Board Meeting held today.

The consolidated financial performance highlights for the quarter ended 30th June, 2017 are as follows –

 

  • Sales (inclusive of Excise Duty) at Rs. 670.98 crores, reflected an increase of 8.60% over the previous period (Rs. 617.84 crores).
  • Operating EBIDTA i.e. Operating Earnings before Interest, Depreciation, Taxes and Amortisation was recorded at Rs. 109.85 crores registering an increase of 7.89% over the corresponding figure of Rs. 101.82 crores for the previous period.
  •     Cash profit increased by 19.94% from Rs. 66.65 crores in Q4 FY 2016 to Rs. 79.94 crores in Q4 FY 2017.
  •     PBT increased by 25.67% from Rs. 46.08 crores in Q1 FY2017 to Rs. 57.91 crores in Q1 FY2018.
  •     PAT increased by 38.33% from Rs. 28.33 crores in Q1 FY2017 to Rs. 39.19 crores in Q1 FY2018.

The table below gives the details of the financial performance both on standalone and consolidated basis –

 

AIS – Financial Results for the first quarter ended 30th June, 2017

(Rs. Lakhs)

Particulars Standalone Consolidated
2017 2016 Change (%) 2017 2016 Change (%)
Sales 65,891 61,022 7.98 67,098 61,784 8.60
Operating EBIDTA 11,314 10,427 8.51 10,985 10,182 7.89
Cash Profit 8,329 6,923 20.31 7,994 6,665 19.94
Profit Before Tax 6,202 4,963 24.96 5,791 4,608 25.67
Profit after Tax 4,145 3,058 35.55 3,919 2,833 38.33

 

 

 

 

 

Speaking on the occasion, Mr. Sanjay Labroo, MD & C.E.O., AIS said – “Current macro environment has been largely positive on glass industry mainly due to strong foreign inflows, a good monsoon leading to pick up in rural demand, introduction of GST and massive improvement of credit available to good borrowers. There is strong demand of glass from automotive and construction segment and AIS has continued its momentum this quarter. Our operating margins remained under pressure from some cost increases. However, we managed to offset the same through better operations. A stable rupee also helped us.

 

We have also implemented some operational upgrades in our float glass plant at Roorkee leading to productivity increases from the next quarter. We also welcome the new regulations & standards from the government for architectural glass which shall be beneficial to everyone in the long term. As required by law, we have migrated to the new IndAS method of accounting and therefore, our results have been restated this quarter with minor upside on PAT coming from positives in depreciation.

 

Overall, we continue to look forward to consistent growth in auto and architectural segments as well as a stable macro environment.”

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