ASAHI INDIA GLASS LIMITED

Asahi India Glass Limited was incorporated in 1984 as Indian Auto Safety Glasses Limited. The Company was promoted as a Joint Venture by Maruti Udyog, Asahi Glass Company, Japan and B M Labroo and Associates. Asahi Glass Company, Japan, provides the technical assistance to the Company. The name of the Company was thereafter changed from Indian Auto Safety Glasses Limited to Asahi India Safety Glass Limited and further to Asahi India Glass Limited effective from 26th September 2002. Company is a leading integrated glass solutions provider, offering a wide range of products across Automotive, Architectural and Consumer Glass segments. The Company is engaged in the business of manufacturing of Auto Glass, Float Glass and other value added Glasses. Excelling in glass manufacturing, Company operates 12 state-of-the-art plants at 8 locations and 10 advanced sub-assembly units-cum-warehouses. AIS Float Glass is a premier manufacturer of international quality glass and value added glass like reflective glass and mirror. The manufacturing plants are located at Taloja in Maharashtra and Roorkee in Uttarakhand. The company is also the commercial agent of AGC Float Glass, Europe in India since April 2007. AIS Glass Solutions is the face of the architectural glass processing business of AIS. They have been supplying a wide range of high quality architectural processed glass, comprising of toughended glass, laminated glass, insulated glass units and value added glass products. Their processing facilities are located at Taloja in Maharashtra, Chennai in Tamilnadu and Roorkee in Uttarakhand. In the year 1986, the company started commercial production of toughened automotive glass with installed capacity of 260000 sq.mtrs. In the year 1990, they installed first printing line to produce automotive glass with black ceramic and heat lite printing. During the year 1993-94, they set up a new plant to produce laminated safety glass. The Company started its operations in 1987 as a joint venture among the Labroo family, Asahi Glass Co. Ltd. (now AGC Inc.), and Maruti Udyog Limited (now Maruti Suzuki India Limited, MSIL). The Company was first Indian glass company to get the QS-9000 and ISO-9002 certification through TUV Bayren Sachsen, Germany for the production and servicing of automotive safety glass. During the year 2001, Floatglass became the subsidiary of AIS and in the year 2002-03, the company was merged with AIS. During the year 2005-06, AIS Glass Solutions Ltd became the subsidiary of AIS. The company increased the production capacity of Laminated Glass and Toughened by 660000 Nos and 1110000 sq mtr respectively. During the year 2005-06, the company commissioned Tempered Glass Manufacturing unit and Laminated Windshields Manufacturing unit at Chennai in Tamilnadu. During the year 2006-07, the company increased the production capacity of Flaot Glass, Laminated Glass and Toughened Glass by 44520000 sq mtr, 410000 Nos and 720000 sq mtr respectively. Also, the commercial production of reflective glass and mirror at the Integrated Glass plant in Roorkee, Uttarakhand commenced on April 18, 2007 and May 25, 2007 respectively. During the year 2007-08, the production capacity of Toughened Glass, Laminated Glass, Architectural Glass and Mirror Glass increased by 2592000 sq mtr, 80000 Nos, 504000 sq mtr and 3650000 sq mtr respectively. The architectural glass processing plant in Roorkee in Uttarakhand commenced their operation in September 2007. During 2009-10, Asahi India Glass' Auto Glass strategic business unit (SBU) continued its splendid performance in terms of delivery of quality products to its customers and maintained its position as a premium supplier of automotive glass to almost the entire Indian automotive industry. During 2009-10, the Auto Glass SBU increased production of laminated glass by 29.74% from 2,247,416 pieces to 2,915,877 pieces over the last year. Production of tempered glass increased 30.58% over the previous year. During the year, the Auto Glass SBU continued to make the incremental investments that were needed to expand capacities, keeping in view the burgeoning demands from its customers. All investments were carefully analysed to ensure achieving customer satisfaction, on time and in full delivery', without negatively impacting the SBU's cash flow. During the year, the Auto Glass SBU made considerable inroads into the commercial vehicles segment (Bus, LCVs etc). During the year, the company's Float Glass SBU introduced new variants and colours of its product range in the market. During the year under review, Float Glass SBU's Taloja plant successfully implemented and stabilised its operations after switching over to natural gas as its primary fuel source. This substitution of natural gas in the place of furnace oil has resulted in substantial savings, without impacting the quality of output; it has also ensured stability of fuel source supply and prices. During the year under review, the Float Glass SBU continued to expand its reach in the market by appointing several more dealers across India. During the financial year ended 31 March 2012, Asahi India Glass' Auto Glass division partnered with leading automobile players who launched a number of new models in Indian market. FY 2012 was the long awaited management merger of the company's architectural glass facilities with the Float Glass strategic business unit (SBU). During the year under review, the company's Float Glass division could not aggressively push the new value added products with high margins, towards which it has been targeting. The company continued to put its efforts and R&D towards promoting new products made of Float Glass, which could be used in green buildings, or solar panels, which are taking some time to take off. During the financial year 2013-14, Asahi India Glass' Auto Glass division continued to develop and deliver new products to expand its business scope with existing and new customers. AIS Auto Glass continued to win very large proportion of the new businesses opened for bidding during the year. In the after-market, the company generated incremental sales by introducing the Ford and Toyota range of products. Asahi India Glass' Architectural Glass division turned around - from segment loss before interest and un-allocable items of Rs.35 crores in FY13 to a profit of Rs.31 crores in FY14. The company undertook several cost management initiatives at its facilities during FY14, which has contributed to the turnaround of the Architectural Glass division. New products launched by the division include AIS Opal Trendz, Ecosense Enhance Range and Ecosense Exceed Range. During the financial year 2015-16, Vincotte International India Assessment Services Private Limited ceased to be an associate of Asahi India Glass.Asahi India Glass' Auto Glass unit focused on expanding business with existing customers and tapping new ones as it supplied products for new car launches in FY 2015-16. The auto glass division launched new products viz. solar acoustic windscreen glasses, UV cut sidelite glasses and Light weight windscreen and sidelite glazing. During 2015-16, the company undertook various expansion projects that included commissioning of new capacities for laminated glass having capacity of manufacturing 0.7 million windscreens per annum, doubling capacity of glass encapsulation and enhancing production of door glass by 20%. Sales from new products launched by the company's Float Glass division during the year under review gained significant acceptance among the real estate and construction players. The new products introduced by AIS during the year include Chrome yellow, hazel brown, stone grey and turquoise green Decor shades in the lacquered glass range, Opal+ Olive Green in the solar control Opal HC reflective glass, Solar control glass with thermal insulated (Low-E) properties that can be used in single glazed applications in the Ecosense Edge, Supreme Gold in the SunShield Heat Reflective Glass range and Cross hatch and T-weave designs of Opal Trendz. During FY 2017-18, Scopfy Components Private Limited (Scopfy) became an associate of Asahi India Glass through equity participation in Scopfy by making investment of 30% of Equity Capital. New Models launched in FY 2022-23 comprised of Maruti Suzuki Alto, Maruti New Brezza, Toyota Hyryder, MG Gloster, Mahindra New Scorpio and Mahindra XUV 400. Other launches included, Maruti Suzuki Grand Vitara, Toyota Lexus, Innova Next, Toyota Hilux, Jeep Meridian, Volkswagen Virtus, Honda City, Mahindra Next BMT, Volkswagen Next Vento, Jeep Meridian, Force Motors T1N, Toyota Fortuner Pickup, Maruti - Toyota YFG. AIS Windows, unveiled its latest technology driven experience centre in Bengaluru, Karnataka in 2023. During Financial Year 2023-24, AIS Adhesives Limited and AIS Distribution Services Limited have become Subsidiaries of the Company. Pursuant to AIS Adhesives Limited becoming Subsidiary of the Company and GX Glass Sales and Services Limited already being Subsidiary, the Company acquired indirect significant influence over Under Par Sports Technologies Private Limited which has become an Associate of AIS. AIS, through its subsidiary, has acquired specific assets of Balaji Building Technologies (BBT) in Bengaluru to advance its architectural glass processing business in FY24.