Margins of float glass improve sharply, while that of auto glass falls

In the quarter ended Sep 2010, Asahi India Glass (AIS) - India's largest integrated glass Company, reported consolidated net profit of Rs. 5.22 crore against net loss of Rs. 1.16 crore in Sep 2009 quarter on supportive non operating performance though limited by weak operating performance.

The OPM fell by 190 bps largely due to 780 bps decline in PBIT margin of automotive glass though partially limited by 1030 bps spurt in float glass PBIT margin. Thus the consolidated operating profit growth was constrained at 10% to Rs. 69.84 crore. Nevertheless, profits received support from reduction in interest cost and depreciation cost.

Speaking on the occasion, Mr. Sanjay Labroo, MD & C.E.O., AIS said - The results are a reflection of the improved operational performance of AIS across all levels. The Indian economy continued its momentum during the last quarter and the automotive and construction sectors showed good growth resulting in a positive impact on our performance. The float glass segment of AIS performed particularly well and is now inching closer to its potential performance. Sales of our high quality value-added glass products continued to increase and are appreciated by our customers. We continue to work on offering a variety of high quality float glass products to our customers. The automotive segment has done well to keep up with the burgeoning demand from the automotive sector. Our brown-field expansions are also progressing as scheduled and we expect to commission a laminated glass expansion in the fourth quarter of 2010-11. Overall, I am satisfied that the several operational improvements undertaken recently are being reflected in the financial statements of AIS.

Read the full story bellow.

600450 Margins of float glass improve sharply, while that of auto glass falls glassonweb.com

See more news about:

Others also read

AIS Glass Simulator lets you choose an ideal energy efficient glass solution for your architecture.
Glass has always been a popular addition to offices around the globe, often replacing walls and whiteboards in many spaces.
Give your projects the tint of luxury, and a hint of royalty with AIS Sunshield Royal Gold, the exciting new shade from India's leading heat reflective soft-coat glass.
The joint venture company, Scopfy Components Pvt. Ltd, will acquire Timex Group Precision Engineering Ltd in cash. The company did not disclose the amount for which it will make the acquisition.
Asahi India Glass Ltd. (AIS), India’s leading integrated glass company, has come up with an exclusive glass solution called the AIS World of Glass- an app that lets users channel their imagination and visualize glass customizations for their home and office.
With technological processes, various varieties of glass have been produced that offer unmatchable strength, toughness and durability.

Add new comment