External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul><li>We believe, it would be tough for Asahi India Glass (AIG) to sustain its present elevated profitability levels amidst steep rise in energy costs.</li><li>We expect it to surge a further ~400bps by Q1FY23E, assuming present natural gas and crude oil prices.</li><li>Also, logistics cost to sales is ~5-6%, and ~20% increase in fuel costs would add a further 100bps pressure on margins.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We believe, it would be tough for Asahi India Glass (AIG) to sustain its present elevated profitability levels amidst steep rise in energy costs.We expect it to surge a further ~400bps by Q1FY23E, assuming present natural gas and crude oil prices.Also, logistics cost to sales is ~5-6%, and ~20% increase in fuel costs would add a further 100bps pressure on margins.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Energy cost inflation to drive margin reversion

India

Asahi India Glass Limited manufactures automotive safety glass and float glass. The Company's product range includes laminated windshields, tempered glass, silver printed defogger glass, black ceramic printed flush fitting glass and PVC-encapsulated fixed glass.

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Asahi India Glass (AISG IN)

Energy cost inflation to drive margin reversion

We believe, it would be tough for Asahi India Glass (AIG) to sustain its present elevated profitability levels amidst steep rise in energy costs....

ICICI Securities Limited

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