2 Top Glass Stocks to Watch for Future Multibagger Potential: Asahi India Glass and Borosil
- October 15, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Asahi India Glass Rs 924.25. Borosil Rs 267.10. Market caps from Rs 3,287 crore to Rs 23,722 crore. Data as of 15 Oct 2026.
Quick Answer
Asahi India Glass and Borosil are the 2 picks in this glass stocks watchlist, with market caps between Rs 3,287 crore and Rs 23,722 crore. Asahi India Glass stands out for the biggest five-year price gain at 143.83%, while Borosil offers the lowest PE of the group at 46.91. PE ratios run from 46.91 to 54.01, so compare each one with its industry PE before investing. All figures are as of 15 October 2026.
Glass stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Asahi India Glass and Borosil meet that test, with market caps from Rs 3,287 crore to Rs 23,722 crore and Asahi India Glass offering the biggest five-year price gain at 143.83%. Glass sits in cars, homes, solar panels and kitchens, so demand comes from several growing industries instead of one.
This list covers listed glass and glass product companies with complete, verifiable financials, ranked by market capitalisation. Not every name here is a largecap, so the list takes the leading companies of the sector by market capitalisation. Investors screening glass stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 15 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Glass Stocks and Why Do They Attract Multibagger Interest?
Glass stocks cover companies that make automotive glass, architectural glass, consumer glassware and related products. Automotive glass follows vehicle production, while glassware and kitchen products follow household spending.
Rising car output, demand for energy-efficient building glass and the growth of solar capacity support volumes. Companies that expand capacity in step with demand and add higher-value products are the ones investors favour in glassware shares.
Glass Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are as of 15 October 2026, mid-session. Borosil has the lowest PE of the group at 46.91, while Asahi India Glass posts the highest return on equity at 8.77%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Asahi India Glass | 924.25 | 23,722 | 54.01 | 35.80 | 8.77% | 0.56 | 775.10 to 1,074.00 |
| Borosil | 267.10 | 3,287 | 46.91 | 35.80 | 8.42% | 0.17 | 213.73 to 363.40 |
Asahi India Glass: Quarterly Profit Up 172.09%
Asahi India Glass makes automotive glass and also sells float glass and architectural glass products. It reported FY26 revenue of Rs 5,031.03 crore, up 8.74% year on year, and net profit of Rs 345.06 crore. Revenue has compounded at 12.07% a year since FY22. Operating margin was 19.01% in FY26.
In the June 2026 quarter, revenue rose 14.49% to Rs 1,419.14 crore and net profit grew 172.09% to Rs 149.08 crore. The share price has gained 143.83% over five years. Domestic institutions raised their holding from 1.78% in June 2025 to 5.26% in June 2026. The stock trades at a PE of 54.01 against an industry PE of 35.80. The dividend yield is 5.48%.
Borosil: Market Cap of Rs 3,287 Crore
Borosil makes glassware, opalware, flasks and kitchen appliances for consumers. It reported FY26 revenue of Rs 1,225.55 crore, up 8.00% year on year, and net profit of Rs 74.66 crore, up 0.58%. Revenue has compounded at 9.12% a year since FY22. Operating margin was 16.25% in FY26. The debt-to-equity ratio is 0.17.
The stock trades at a PE of 46.91 against an industry PE of 35.80. Revenue for the June 2026 quarter rose 7.31% to Rs 260.24 crore, at an operating margin of 16.21%. Promoters hold 64.68%, which keeps ownership stable.
Glass Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these glass stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.
| Stock | Revenue (Rs Cr) | Net Profit (Rs Cr) | Revenue Growth (YoY) | 4-Year Revenue CAGR | Latest Quarter Revenue Growth | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| Asahi India Glass | 5,031.03 | 345.06 | 8.74% | 12.07% | 14.49% | 23.73% |
| Borosil | 1,225.55 | 74.66 | 8.00% | 9.12% | 7.31% | 16.21% |
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Institutional Holding in Asahi India Glass and Borosil
Institutional holding shows who is backing these glass product shares alongside the promoter. The table uses the latest reported quarter for each. Asahi India Glass has the deepest institutional backing, with FII and DII together holding 10.12% as of June 2026. Domestic institutions increased their holding over the past year in Asahi India Glass (from 1.78% to 5.26%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Asahi India Glass | 51.57% | 4.86% | 5.26% | 38.31% | June 2026 |
| Borosil | 64.68% | 0.35% | 6.20% | 28.77% | June 2026 |
Risks to Weigh in Glass Stocks
Being careful with glass stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:
- Glass making is energy-intensive, so fuel and power costs influence margins.
- Automotive glass volumes follow vehicle production, which moves with the auto cycle.
- Valuation: Asahi India Glass trades at a PE of 54.01 against an industry PE of 35.80, so earnings need to keep growing to support the price.
- Concentration: Holding both names puts the allocation in one sector, so size each position to match your risk appetite.
How to Choose Between Glass Stocks
Picking from automotive glass stocks comes down to four checks, applied in order.
- Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
- Compare each PE with the industry PE (35.80) and ask whether the growth rate justifies any gap.
- Track capacity utilisation, product mix and the operating margin to see how efficiently each company runs.
- Stagger entries across quarters and review institutional holding every reporting season.
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Conclusion
Among glass stocks, Asahi India Glass stands out for the biggest five-year price gain at 143.83% and Borosil for the lowest PE of the group at 46.91. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing glass stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Glass Stocks to Watch
Which are the best glass stocks to watch for multibagger potential?
Ans. Asahi India Glass and Borosil are the 2 names this list highlights, with market caps of Rs 23,722 crore and Rs 3,287 crore respectively. Asahi India Glass is notable for the biggest five-year price gain at 143.83%. Borosil stands out for the lowest PE of the group at 46.91. These are watchlist names for glass stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Asahi India Glass a good stock for long-term investors?
Ans. Asahi India Glass has a return on equity of 8.77%, a PE of 54.01 against an industry PE of 35.80 and a market cap of Rs 23,722 crore. FY26 revenue rose 8.74%, and June 2026 quarter net profit grew 172.09%. Long-term returns in automotive glass stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Borosil become a multibagger from here?
Ans. Borosil has a market cap of Rs 3,287 crore. A multibagger outcome in glass stocks requires earnings to keep growing faster than the market for several years. FY26 revenue rose 8.00%, and June 2026 quarter revenue grew 7.31%. At a PE of 46.91 against an industry PE of 35.80, valuation should be checked against that growth before investing.
What is the market cap of Asahi India Glass and Borosil?
Ans. As of 15 October 2026, Asahi India Glass has a market cap of Rs 23,722 crore and Borosil has a market cap of Rs 3,287 crore. Asahi India Glass is the largest of the group. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on glassware shares.
What are the risks of investing in glass stocks?
Ans. The main risks are energy costs, the auto cycle and capacity timing. Gas and power costs are a large part of glass production costs, and automotive demand moves with vehicle sales. Companies with diversified products are better cushioned. Asahi India Glass trades at a PE of 54.01 against an industry PE of 35.80, so earnings growth needs to hold up.
Why is Asahi India Glass trading at a PE of 54.01?
Ans. Asahi India Glass’s PE of 54.01 compares with an industry PE of 35.80. The market is paying a premium for latest-quarter profit growth of 172.09%, which also means the stock is more sensitive if growth slows. Investors in glass product shares who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Asahi India Glass and Borosil?
Ans. As of the latest reported quarter, FII and DII together hold 10.12% of Asahi India Glass (4.86% and 5.26%) and 6.55% of Borosil (0.35% and 6.20%). Rising institutional holding is a useful signal in glass stocks, though it should be read with earnings trends rather than on its own.
