Laminated Glass Manufacturers

AIS - Chairman's Message - discussing Laminated Glass Manufacturers , sheet glass manufacturer

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Asahi india's financial growth in Laminated Glass Manufacturers glass industry on float glass india,float glass manufacturing,float glass manufacturers,automotive safety glass,solar control glass,sheet glass,tinted glass,figured glass,decorative glass,mirrors and reflective glass. Asahi India produces various types of laminated glass depending on application like acoustic laminated glass,laminated side glass,thin tempered glass,laminated windshields,laminated door glass). We will continue to invest in expanding our established businesses, improving efficiencies, strengthening our capabilities and improving our brand recognition while pursuing profitable growth opportunities that expand our market position or product scope and take us close to the ultimate consumer. Our Vision is to be India’s leading integrated glass Company.The year 2002-03 was an important year of strategic direction for the new Asahi India Glass Ltd. (Asahi India). We retained our domination in the domestic automotive safety glass market and successfully integrated Floatglass India Ltd., our erstwhile subsidiary, to emerge as India’s preeminent glass Company. Last year, as shareholders will recall, Asahi Glass Co., Ltd., Japan, (AGC), our technical and financial collaborator and the world leader in the glass industry, transferred their 75% stake in Floatglass India Ltd. (FGI) to Asahi India, to consolidate their India operations. We remain deeply honoured for the confidence that AGC has reposed in us and look forward to continuing and expanding this excellent relationship. Sheet glass manufacturer India Sheet glass manufacturer India: With the merger, we have doubled our size and taken a giant step forward in enhancing our strategic position in the Sheet glass manufacturer India, domestic glass industry. 2002-03 was our first full year as one entity, wherein our automotive glass and float glass operations were combined. Expectedly, gross sales and operating profits, at Rs. 469 crores and Rs. 93 crores respectively, were at their best ever levels. Cash flows were at record levels, with both operating divisions contributing meaningfully, and our balance sheet position remains strong. Accordingly, we have recommended a dividend of 150%, which is in line with our stated dividend policy. During the year under review, the global economy witnessed increased uncertainties and sluggish growth, with difficult economic conditions in the developed nations. The Indian economy saw slower growth as well. India’s GDP growth for 2002-03 registered a growth of 4.4%, as compared to 5.6% achieved in the previous year. The slowdown was primarily due to the deficient monsoon in 2002 causing a negative growth in agriculture. The inherent strength of the economy, however, showed in the healthy growth rates of 7% and 6.1% in the services and industrial sectors. The domestic car and multi-utility vehicle (MUV) market showed distinct signs of revival towards the end of the year. For the year, production of cars and MUVs rose by 7% to 7,70,508 units. Demand for float glass remained buoyant during the year, benefiting from the marked pick-up in the construction sector and the revival in the automotive sector, growing by over 12%. Our overall operating environment remained challenging though, as we battled rising fuel costs and continued pressure on pricing, in both our operating SBUs. Our OE customers for automotive glass kept up a relentless pressure for price reductions, while domestic prices of float glass declined primarily on account of dumping from China and Indonesia. As a laminated  automotive glass manufacturer supplying a single customer, we have, over the years, evolved and reinvented ourselves as a Company. As India’s premier glass Company, we are excited by the growth opportunities for our products like laminated door glass, solar control glass . (Laminated glass is a multi-functional glazing material that can be used in a variety of applications ranging from residential to commercial installations. We are convinced that Asahi India is on the right path. Our near-term focus will be on internal growth and optimizing gains of our recent merger. We have made excellent progress in growing our business and are well equipped to generate sustainable, profitable growth and build lasting value for our shareholders. In conclusion, I would like to thank our business partners and shareholders for their continued support and confidence in our Company. I would also like to thank all employees for their accomplishments this year. I continue to be extremely optimistic regarding Asahi India’s future prospects. B.M. Labroo Chairman

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