Asahi India Glass (AIS), a key player in the automotive OEM components industry, is aiming for substantial growth in the ongoing financial year despite a projected flat growth rate for the passenger vehicle (PV) market. AIS, which posted operating revenues of Rs 4,162 crore in FY2024—a 6.2% year-on-year increase from Rs 3,918 crore in FY2023—is targeting double-digit growth, driven by the rising demand for premium automotive glass products.
AIS’s confidence stems from the increasing value proposition of its core products and the growing premiumisation of cars in India. The company has seen a surge in demand for high-value products such as UV-cut side window glasses and rear-defogger-equipped windshields. Additionally, AIS is bullish on the domestic demand for sunroofs, projecting to supply over 1.5 million sunroof glasses this year.
A joint venture between Maruti Suzuki, Asahi Glass (Japan), and Labroo & Associates, AIS is a major supplier of sunroof glass to industry leaders like Webasto, CIE Golde, and Inalfa Roof Systems. With an estimated 72% market share in the passenger vehicle OEM segment by the end of FY2024, AIS is also focusing on new product introductions, including laminated side window glass with solar and acoustic insulation.
Amit Sood, Senior Executive Director of Sales & Marketing at AIS, highlighted the company’s growth strategy: “We plan to grow our PV market share to up to 75% this year and aim to grow our revenues by double digits.” Sood noted that revenue growth would also come from additional sub-assemblies such as ADAS mounting brackets integrated into front windshields.
AIS operates five manufacturing plants across India, with a combined annual production capacity of up to 8.2 million laminated front windshields and 5.7 million tempered window and rear glass car sets. To align with future growth expectations, AIS plans to increase these capacities to 10 million laminated windshields and 7.2 million tempered glasses by FY2028. The company’s revenue is primarily driven by OEM supplies (over 75%), with the replacement market contributing the remaining 25%.
Maruti Suzuki India remains AIS’s biggest PV OEM customer, accounting for over 85% of its business. AIS is also the sole supplier to Toyota Kirloskar Motor and holds a 65% share of the Hyundai-Kia combine’s business in India. The company serves all leading OEMs across the PV, three-wheeler, off-highway, tractor, and commercial vehicle segments, with a combined market share of close to 65%.
To support its growth, AIS is undertaking significant capital expenditure. The company has invested nearly Rs 900 crore in its latest plant in Patan, Gujarat, which caters to OEMs like Suzuki Motor Gujarat, Tata Motors, and MG Motor India. The third phase of this facility, set to be commissioned in FY2025, will further increase its capacity. Additionally, AIS has earmarked Rs 1,400 crore for a greenfield plant in Soniyana, Rajasthan, to localize float glass production and cater to the domestic market.
AIS’s commitment to sustainability is evident in its recent partnership with Inox Air Products to procure green hydrogen for the new Soniyana facility, aimed at reducing CO2 emissions by 25,000 metric tonnes over two decades. This plant, set to be commissioned by the end of 2025, will focus on producing dark-green UV-cut glass and achieving high localization levels from the start of production.
The company’s robust R&D efforts and future-ready product roadmap include innovations such as laminated side-window glass, head-up display windscreens, and sunroofs with adjustable light-control functionalities. Rahul Nikhanj, Head of Projects and Production Technology at AIS, emphasized the company’s focus on lightweighting techniques to reduce the weight of automotive glass without compromising strength.
As AIS continues to invest in capacity expansion and technological advancements, it remains poised to capitalize on the growing premium automotive glass market in India, ensuring sustained growth and leadership in the industry.
(AIS), a key player in the automotive OEM components industry, is aiming for substantial growth in the ongoing financial year despite a projected flat growth rate for the passenger vehicle (PV) market. AIS, which posted operating revenues of Rs 4,162 crore in FY2024—a 6.2% year-on-year increase from Rs 3,918 crore in FY2023—is targeting double-digit growth, driven by the rising demand for premium automotive glass products.
AIS’s confidence stems from the increasing value proposition of its core products and the growing premiumisation of cars in India. The company has seen a surge in demand for high-value products such as UV-cut side window glasses and rear-defogger-equipped windshields. Additionally, AIS is bullish on the domestic demand for sunroofs, projecting to supply over 1.5 million sunroof glasses this year.
A joint venture between Maruti Suzuki, Asahi Glass (Japan), and Labroo & Associates, AIS is a major supplier of sunroof glass to industry leaders like Webasto, CIE Golde, and Inalfa Roof Systems. With an estimated 72% market share in the passenger vehicle OEM segment by the end of FY2024, AIS is also focusing on new product introductions, including laminated side window glass with solar and acoustic insulation.
Amit Sood, Senior Executive Director of Sales & Marketing at AIS, highlighted the company’s growth strategy: “We plan to grow our PV market share to up to 75% this year and aim to grow our revenues by double digits.” Sood noted that revenue growth would also come from additional sub-assemblies such as ADAS mounting brackets integrated into front windshields.
AIS operates five manufacturing plants across India, with a combined annual production capacity of up to 8.2 million laminated front windshields and 5.7 million tempered window and rear glass car sets. To align with future growth expectations, AIS plans to increase these capacities to 10 million laminated windshields and 7.2 million tempered glasses by FY2028. The company’s revenue is primarily driven by OEM supplies (over 75%), with the replacement market contributing the remaining 25%.
Maruti Suzuki India remains AIS’s biggest PV OEM customer, accounting for over 85% of its business. AIS is also the sole supplier to Toyota Kirloskar Motor and holds a 65% share of the Hyundai-Kia combine’s business in India. The company serves all leading OEMs across the PV, three-wheeler, off-highway, tractor, and commercial vehicle segments, with a combined market share of close to 65%.
To support its growth, AIS is undertaking significant capital expenditure. The company has invested nearly Rs 900 crore in its latest plant in Patan, Gujarat, which caters to OEMs like Suzuki Motor Gujarat, Tata Motors, and MG Motor India. The third phase of this facility, set to be commissioned in FY2025, will further increase its capacity. Additionally, AIS has earmarked Rs 1,400 crore for a greenfield plant in Soniyana, Rajasthan, to localize float glass production and cater to the domestic market.
AIS’s commitment to sustainability is evident in its recent partnership with Inox Air Products to procure green hydrogen for the new Soniyana facility, aimed at reducing CO2 emissions by 25,000 metric tonnes over two decades. This plant, set to be commissioned by the end of 2025, will focus on producing dark-green UV-cut glass and achieving high localization levels from the start of production.
The company’s robust R&D efforts and future-ready product roadmap include innovations such as laminated side-window glass, head-up display windscreens, and sunroofs with adjustable light-control functionalities. Rahul Nikhanj, Head of Projects and Production Technology at AIS, emphasized the company’s focus on lightweighting techniques to reduce the weight of automotive glass without compromising strength.
As AIS continues to invest in capacity expansion and technological advancements, it remains poised to capitalize on the growing premium automotive glass market in India, ensuring sustained growth and leadership in the industry.
