Buy, Sell Or Hold: Asahi India Glass, Borosil Renewables, La Opala RG, Borosil Ltd — Analyst Forecast
- September 25, 2026
- Posted by: Ankit Jaiswal
- Category: Market
India’s listed glass and glass products stocks span automotive and architectural glass, solar glass manufacturing and consumer glassware, and only four genuine names trade with meaningful liquidity in this niche, capital-intensive space. This piece checks all four on valuation and profitability.
Sector Snapshot (25 September 2026)
| Stock | LTP (Rs) | 52W High | 52W Low | P/E vs Industry | ROE | Our View |
|---|---|---|---|---|---|---|
| Asahi India Glass | 955.75 | 1,074.00 | 775.10 | 56.00 / 37.44 | 8.77% | Hold |
| Borosil Renewables | 453.80 | 721.00 | 374.40 | 16.21 / 37.44 | 21.67% | Buy on Dips |
| La Opala RG | 160.73 | 258.00 | 155.00 | 19.10 / 35.28 | 11.25% | Buy on Dips |
| Borosil Ltd | 264.64 | 397.95 | 213.73 | 44.40 / 37.44 | 8.42% | Hold |
India has only four genuine listed glass and glass products stocks with meaningful liquidity, which is why this list covers four names instead of five.
Quick Answer
Borosil Renewables and La Opala RG both stand out among these glass and glass products stocks, trading well below the industry average valuation with reasonable to strong return on equity, La Opala RG also near its 52-week low. Asahi India Glass and Borosil Ltd both carry richer multiples against comparatively modest returns.
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Asahi India Glass: Hold
Asahi India Glass, the automotive and architectural glass leader, trades at Rs 955.75, down close to 11% from its 52-week high of Rs 1,074.00. Its price-to-earnings ratio of 56.00 is well above the industry average of 37.44, while its return on equity of 8.77% is comparatively modest. That gap between a rich valuation and modest profitability keeps this in hold territory.
Borosil Renewables: Buy on Dips
Borosil Renewables, India’s only solar glass manufacturer, is at Rs 453.80, down close to 37% from its 52-week high of Rs 721.00. It stands out with a price-to-earnings ratio of just 16.21 against an industry average of 37.44, alongside a strong return on equity of 21.67%. That combination of a steep discount and solid profitability makes it the standout glass and glass products stock to watch for accumulation.
La Opala RG: Buy on Dips
La Opala RG, the opal and crystal glassware maker, trades at Rs 160.73, close to its 52-week low of Rs 155.00. It combines a return on equity of 11.25% with a price-to-earnings ratio of 19.10, well below the industry average of 35.28, and carries an almost debt-free balance sheet. That mix of a discounted valuation and a clean balance sheet makes it another of the more attractive glass and glass products stocks to accumulate on dips.
Borosil Ltd: Hold
Borosil Ltd, the consumer and scientific glassware maker demerged from Borosil Renewables, is at Rs 264.64, down close to 34% from its 52-week high of Rs 397.95. Its price-to-earnings ratio of 44.40 is above the industry average of 37.44, while its return on equity of 8.42% is comparatively modest. That combination keeps this in hold territory rather than a fresh buy despite the pullback.
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What Ties These Names Together
Across these glass and glass products stocks, Borosil Renewables and La Opala RG currently offer the more attractive combination of below-industry valuations and reasonable to strong return on equity, while Asahi India Glass and Borosil Ltd both trade at richer multiples relative to their current profitability. Solar module demand, automotive glass volumes and input costs for soda ash and natural gas can all move these numbers meaningfully from one quarter to the next.
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Conclusion
Glass and glass products stocks in India form a small, capital-intensive group, and of these glass and glass products stocks, Borosil Renewables and La Opala RG currently look best placed for gradual accumulation, while Asahi India Glass and Borosil Ltd are more reasonable holds. As always, treat this as a starting point rather than a final word.
Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Stock market investments are subject to market risks. Please verify all data independently and consult a SEBI-registered investment adviser before making any investment decisions. Univest Financial Services Private Limited, SEBI Registered Investment Adviser, Registration No. INH000013776.
Frequently Asked Questions
A few common questions on these glass and glass products stocks, answered briefly below for quick reference.
How many listed glass and glass products stocks are there in India?
Only four genuine listed pure-plays trade with meaningful liquidity in India, Asahi India Glass, Borosil Renewables, La Opala RG and Borosil Ltd.
Which glass and glass products stock looks the most attractive right now?
Borosil Renewables currently shows the most favourable combination of a below-industry valuation and strong return on equity among these glass and glass products stocks.
Are Borosil Ltd and Borosil Renewables the same company?
No, Borosil Ltd is a separately listed entity that was demerged from Borosil Renewables, with Borosil Ltd focused on consumer and scientific glassware while Borosil Renewables makes solar glass.
Why is Asahi India Glass rated a hold?
Asahi India Glass trades at a price-to-earnings ratio well above the industry average while its return on equity of 8.77% is comparatively modest, which is why the valuation isn’t backed by strong enough profitability to call it a buy.
How does automotive demand affect these stocks?
Asahi India Glass supplies windshields and other glass components to automakers, so passenger vehicle production volumes are a direct driver of its order book and revenue.
Where can I track these glass and glass products stocks in real time?
You can track live prices, set price alerts, and follow quarterly results for Asahi India Glass, Borosil Renewables, La Opala RG and Borosil Ltd using the Univest iOS App and Univest Android App.
