Asahi India Declares Financial Results

Date: 27 January 2007
Source: Economic Times
Asahi India Glass Ltd, India’s largest glass company announced its unaudited financial results for the third quarter and the nine months ended 31st December, 2006 at its Board meeting held at Roorkee, Uttarakhand, on 22nd January. AIS’s total sales for the nine months were Rs. 6299.9 Million.

Operating Profit and Net Profit for this period were Rs. 1120.4 Million and Rs. 331.6 Million respectively. Total sales for the third quarter were Rs. 2198.4 Million. Operating Profit and Net Profit for this period were Rs. 365.6 Million and Rs. 133.6 Million respectively. 

Governor of Uttarakhand formally inaugurated AIS’s Plant at Roorkee at the occassion, which is the largest integrated glass plant in the country. The plant, which commenced commercial production from 1st January this year, has manufacturing facilities for float glass, reflective glass, mirror, automotive safety glass and architectural processed glass. The plant has been set up at a total cost of approx. Rs. 7500 Million in a period of 18 months. 

Speaking on the occasion, Mr. Sanjay Labroo, MD&CEO, AIS said, “The  commissioning of the Integrated Glass Plant, which is ahead of schedule, has been a proud moment for us. I copliment the entire team of the Float Glass unit for this feat. This plant is a strategic fit into our value chain strategy and will strengthen our competitiveness in the auto glass and the architectural glass  value chain. The results during this period have shown significant improvement and are as per our expectations. Key factors like reduced oil prices, better price realization for architectural glass, strong market growth in all our business segments have impacted the results positively. We expect these factors to prevail. We are excited by the growth opportunities and are best positioned to gain from it.”

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