Asahi India Glass Limited has recommended a final dividend of ₹2.00 per equity share of face value ₹1.00 each for the financial year ended March 31, 2026 (FY26). The Board of Directors approved the payout during its meeting held on May 27, 2026. The dividend is subject to approval by shareholders at the company’s 41st Annual General Meeting scheduled for September 18, 2026.

Shareholders whose names appear in the Register of Members as on September 11, 2026, will be eligible to receive the dividend. The company notified the National Stock Exchange and BSE Limited regarding the deduction of tax at source (TDS) on the dividend payment, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Tax Deduction at Source Guidelines

Dividends are taxable in the hands of shareholders under the Income Tax Act, 2025. Asahi India Glass will deduct TDS at applicable rates unless shareholders provide valid exemption documents. The rates vary based on residential status and documentation:

Resident Members

• No TDS: If total dividend income does not exceed ₹10,000 in a financial year.
• 10% TDS: For residents with valid PAN updated with the Depository Participant or RTA (MUFG Intime India Private Limited), provided no exemption is sought.
• 20% TDS: Applied if PAN is missing, invalid, or not linked with Aadhaar for individuals.

Residents seeking lower or nil TDS must submit Form 121 or a certificate under Section 395(1) of the Act along with a copy of their PAN card. Specific exemptions apply to entities such as Mutual Funds, Government bodies, and Recognised Provident Funds under Section 393 of the Act.

Non-Resident Members

Non-resident shareholders may avail benefits under the Double Tax Avoidance Agreement (DTAA) if more favorable than domestic rates. Standard withholding is 20% plus applicable surcharge and cess. To claim treaty benefits, shareholders must submit:

• Self-attested PAN and Tax Residency Certificate (TRC).
• Completed Form 41.
• SEBI registration certificate (for FIIs/FPIs).
• Declarations regarding beneficial ownership and permanent establishment status.

Special provisions apply to Indian branches of foreign banks (NIL TDS with documentation) and Sovereign Wealth Funds notified under Schedule V(7) of the Act.

Administrative Requirements

Shareholders holding physical securities must ensure their folios have updated PAN, nomination, contact details, bank account information, and specimen signatures. Per SEBI Master Circular no. SEBI/HO/MIRSD/POD-1/P/CIR/2024/37 dated May 7, 2024, payments for folios lacking these details will be made only via electronic mode after furnishing the required information.

All documents for tax exemption must be sent to the company’s investor relations email or the RTA by September 11, 2026. No communications regarding tax withholding will be accepted after this date. Shareholders can claim refunds for excess TDS deducted through their Income Tax Returns; no claims lie against the company for such deductions.

Asahi India Glass reported a significant jump in profitability for the first quarter of FY27, with standalone net profit rising 183.9% year-on-year to ₹151.45 crore. Consolidated net profit attributable to owners increased to ₹149.08 crore, compared to ₹56.17 crore in Q1FY26. The surge was driven by a 14.5% increase in standalone revenue from operations to ₹1,320.11 crore, supported by robust performance in both automotive and float glass segments. The Board also approved the re-appointment of Masao Fukami as Whole Time Director, subject to shareholder approval at the upcoming Annual General Meeting.

The Board of Directors met on August 5, 2026, to approve the unaudited financial results for the quarter ended June 30, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee on August 4, 2026. V S S A & Associates, the statutory auditors, issued a limited review report stating that nothing came to their attention to cause them to believe the financial statements contained material misstatements. The company also announced its 41st Annual General Meeting (AGM) will be held on September 18, 2026, via Video Conferencing/Other Audio Visual Means.

Financial Performance

Standalone revenue from operations grew to ₹1,320.11 crore in Q1FY27, up from ₹1,143.83 crore in Q1FY26. Total income stood at ₹1,326.50 crore. Expenses totaled ₹1,122.52 crore, leading to a profit before tax of ₹203.98 crore. After tax expenses of ₹52.53 crore, net profit for the period reached ₹151.45 crore. Basic earnings per share (EPS) were ₹5.94, compared to ₹2.20 in the previous year’s corresponding quarter.

On a consolidated basis, revenue from operations rose 15.8% to ₹1,413.39 crore. Consolidated profit before tax was ₹202.65 crore, resulting in a net profit of ₹149.08 crore. Consolidated basic EPS was ₹5.85, up from ₹2.31 in Q1FY26.

Segment-wise Performance

The Automotive Glass segment contributed ₹949.23 crore to standalone gross revenue, up from ₹777.35 crore in Q1FY26. Segment results for automotive glass improved to ₹127.66 crore from ₹82.18 crore. The Float Glass segment saw gross revenue rise to ₹545.22 crore from ₹386.76 crore, with segment results increasing to ₹117.03 crore from ₹36.70 crore. Both key segments demonstrated strong top-line growth and margin expansion.

What the Numbers Show

The disproportionate rise in net profit (183.9%) compared to revenue growth (15.4%) indicates significant operational leverage. While revenue grew moderately, costs such as raw materials and power/fuel did not increase at the same pace, allowing margins to expand. The float glass segment, which posted lower absolute revenue than automotive glass, showed a sharper percentage improvement in segment results, suggesting potential capacity utilization gains or pricing power in that vertical.