{"id":306913,"date":"2026-10-14T10:29:28","date_gmt":"2026-10-14T04:59:28","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=306913"},"modified":"2026-10-14T10:29:28","modified_gmt":"2026-10-14T04:59:28","slug":"chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/","title":{"rendered":"3 Chassis Part, Forging and Auto Glass Stocks With a Strong Future Roadmap: Belrise Industries, MM Forgings and Asahi India Glass"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Belrise Rs 235.60, P\/E 44.80. MM Forgings Rs 557.25, P\/E 15.84. Asahi India Glass Rs 937.05, P\/E 54.54. Closing prices of 13 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Chassis part, forging and auto glass stocks with the clearest long-term roadmaps today include Belrise in sheet metal, suspension and chassis parts for two-wheelers, three-wheelers and commercial vehicles, MM Forgings in forgings and machined components for commercial vehicles and industrial users and Asahi India Glass in automotive, float and building glass. FY26 revenue growth was 15.2% at Belrise, 3.7% at MM Forgings and 8.7% at Asahi India Glass. P\/E stands at 44.80 for Belrise (industry 37.01), 15.84 for MM Forgings (industry 51.73) and 54.54 for Asahi India Glass (industry 37.21). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company&#8217;s risks need equal attention.<\/p>\n<\/p><\/div>\n<p>Chassis part, forging and auto glass stocks give investors exposure to parts, forgings and glass that go into two-wheelers, trucks, cars and buildings. Customer orders, plant utilisation and margins decide how much of that demand turns into profit.<\/p>\n<p>This list covers three chassis part, forging and auto glass stocks: Belrise Industries for sheet metal, suspension and chassis parts for two-wheelers, three-wheelers and commercial vehicles, MM Forgings for forgings and machined components for commercial vehicles and industrial users and Asahi India Glass for automotive, float and building glass. Every figure comes from the latest reported financials and the 13 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#What_Are_Chassis_Part_Forging_and_Auto_Glass_Stocks\" title=\"What Are Chassis Part, Forging and Auto Glass Stocks?\">What Are Chassis Part, Forging and Auto Glass Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Chassis_Part_Forging_and_Auto_Glass_Stocks_at_a_Glance\" title=\"Chassis Part, Forging and Auto Glass Stocks at a Glance\">Chassis Part, Forging and Auto Glass Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Why_Do_Chassis_Part_Forging_and_Auto_Glass_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Chassis Part, Forging and Auto Glass Stocks Have a Strong Roadmap in India?\">Why Do Chassis Part, Forging and Auto Glass Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Belrise_Industries_Chassis_and_Suspension_Parts_Drive_the_Pipeline\" title=\"Belrise Industries: Chassis and Suspension Parts Drive the Pipeline\">Belrise Industries: Chassis and Suspension Parts Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#MM_Forgings_Forged_Components_Drive_the_Pipeline\" title=\"MM Forgings: Forged Components Drive the Pipeline\">MM Forgings: Forged Components Drive the Pipeline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Asahi_India_Glass_Auto_and_Building_Glass_Build_the_Next_Leg\" title=\"Asahi India Glass: Auto and Building Glass Build the Next Leg\">Asahi India Glass: Auto and Building Glass Build the Next Leg<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Best_Chassis_Part_Forging_and_Auto_Glass_Stocks_in_India_Belrise_vs_MM_Forgings_vs_Asahi_India_Glass_on_Key_Financials\" title=\"Best Chassis Part, Forging and Auto Glass Stocks in India: Belrise vs MM Forgings vs Asahi India Glass on Key Financials\">Best Chassis Part, Forging and Auto Glass Stocks in India: Belrise vs MM Forgings vs Asahi India Glass on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#How_to_Evaluate_Chassis_Part_Forging_and_Auto_Glass_Stocks_to_Buy_Before_You_Invest\" title=\"How to Evaluate Chassis Part, Forging and Auto Glass Stocks to Buy Before You Invest\">How to Evaluate Chassis Part, Forging and Auto Glass Stocks to Buy Before You Invest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Risks_to_Consider_Before_Investing_in_Chassis_Part_Forging_and_Auto_Glass_Stocks\" title=\"Risks to Consider Before Investing in Chassis Part, Forging and Auto Glass Stocks\">Risks to Consider Before Investing in Chassis Part, Forging and Auto Glass Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Final_Take_Which_Stock_Has_the_Strongest_Roadmap\" title=\"Final Take: Which Stock Has the Strongest Roadmap?\">Final Take: Which Stock Has the Strongest Roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#FAQs_on_Chassis_Part_Forging_and_Auto_Glass_Stocks\" title=\"FAQs on Chassis Part, Forging and Auto Glass Stocks\">FAQs on Chassis Part, Forging and Auto Glass Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Which_are_the_best_chassis_part_forging_and_auto_glass_stocks_in_India_with_a_strong_roadmap\" title=\"Which are the best chassis part, forging and auto glass stocks in India with a strong roadmap?\">Which are the best chassis part, forging and auto glass stocks in India with a strong roadmap?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Is_Belrise_Industries_a_good_stock_to_buy_now\" title=\"Is Belrise Industries a good stock to buy now?\">Is Belrise Industries a good stock to buy now?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#What_is_the_PE_ratio_of_Belrise_MM_Forgings_and_Asahi_India_Glass\" title=\"What is the P\/E ratio of Belrise, MM Forgings and Asahi India Glass?\">What is the P\/E ratio of Belrise, MM Forgings and Asahi India Glass?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Which_of_these_chassis_part_forging_and_auto_glass_stocks_has_the_highest_return_on_equity\" title=\"Which of these chassis part, forging and auto glass stocks has the highest return on equity?\">Which of these chassis part, forging and auto glass stocks has the highest return on equity?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#What_are_the_risks_of_investing_in_chassis_part_forging_and_auto_glass_stocks\" title=\"What are the risks of investing in chassis part, forging and auto glass stocks?\">What are the risks of investing in chassis part, forging and auto glass stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#How_did_Belrise_MM_Forgings_and_Asahi_India_Glass_perform_in_Q1_FY27\" title=\"How did Belrise, MM Forgings and Asahi India Glass perform in Q1 FY27?\">How did Belrise, MM Forgings and Asahi India Glass perform in Q1 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#Do_chassis_part_forging_and_auto_glass_stocks_pay_dividends\" title=\"Do chassis part, forging and auto glass stocks pay dividends?\">Do chassis part, forging and auto glass stocks pay dividends?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/chassis-part-forging-and-auto-glass-stocks-future-edge-watchlist\/#How_can_I_invest_in_chassis_part_forging_and_auto_glass_stocks_in_India\" title=\"How can I invest in chassis part, forging and auto glass stocks in India?\">How can I invest in chassis part, forging and auto glass stocks in India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Chassis_Part_Forging_and_Auto_Glass_Stocks\"><\/span><strong>What Are Chassis Part, Forging and Auto Glass Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chassis part, forging and auto glass stocks are shares of companies that make chassis parts, forgings and glass. Results depend on customer orders, plant utilisation and margins, so plant utilisation and margins separate the stronger names.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Chassis_Part_Forging_and_Auto_Glass_Stocks_at_a_Glance\"><\/span><strong>Chassis Part, Forging and Auto Glass Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares size, valuation, return on equity and debt for the three chassis part, forging and auto glass stocks as of the 13 Oct 2026 close.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Debt to Equity<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/belrise\/belrise-industries-ltd-share-price-today\">Belrise Industries<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">235.60<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22,704<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">44.80<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">37.01<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.51%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.29<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/mmfl\/mm-forgings-ltd-share-price-today\">MM Forgings<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">557.25<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,682<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.84<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.73<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.09%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.10<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/asahiindia\/asahi-india-glass-ltd-share-price-today\">Asahi India Glass<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">937.05<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23,958<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">54.54<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">37.21<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.77%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.56<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Among auto and precision components stocks, Belrise and Asahi India Glass trade at a premium to the industry P\/E, while MM Forgings trades at a discount.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Chassis_Part_Forging_and_Auto_Glass_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Chassis Part, Forging and Auto Glass Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Chassis part, forging and auto glass stocks have a strong roadmap in India because vehicle output, local sourcing by carmakers and construction keep adding orders for Indian component and glass makers. Three drivers stand out.<\/p>\n<ul>\n<li><strong>Vehicle output:<\/strong> Makers keep sourcing chassis parts locally.<\/li>\n<li><strong>Truck demand:<\/strong> Commercial vehicles need forged and machined parts.<\/li>\n<li><strong>Glass demand:<\/strong> Vehicles and buildings use more glass.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Belrise_Industries_Chassis_and_Suspension_Parts_Drive_the_Pipeline\"><\/span><strong>Belrise Industries: Chassis and Suspension Parts Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Belrise&#8217;s roadmap rests on sheet metal, suspension and chassis parts for two-wheelers, three-wheelers and commercial vehicles, with vehicle demand supporting volumes.<\/p>\n<p>Revenue grew from Rs 5,410.68 crore in FY22 to Rs 9,618.86 crore in FY26, a 77.8% rise, and FY26 revenue was 15.2% higher than FY25. FY26 net profit rose 39.8% to Rs 496.86 crore. Over four years, net profit rose from Rs 261.85 crore in FY22 to Rs 496.86 crore. In Q1 FY27, revenue grew 11.9% to Rs 2,564.86 crore, and net profit rose 8.9% to Rs 121.67 crore. Operating margin was 13.23% in FY26.<\/p>\n<p>Debt to equity is 0.29 and return on equity is 9.51%. FY26 operating cash flow was Rs 875.60 crore against capital expenditure of Rs 617.80 crore. Belrise paid a dividend of Rs 0.55 per share for FY26, a yield of 0.22%. At a P\/E of 44.80 against an industry P\/E of 37.01, the stock trades above its industry multiple.<\/p>\n<p>What to watch: The P\/E of 44.80 is a modest premium to the industry P\/E of 37.01, so the next quarters&#8217; growth is the figure to follow.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"MM_Forgings_Forged_Components_Drive_the_Pipeline\"><\/span><strong>MM Forgings: Forged Components Drive the Pipeline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MM Forgings&#8217; roadmap rests on forgings and machined components for commercial vehicles and industrial users, with the truck and bus cycle supporting volumes.<\/p>\n<p>Revenue grew from Rs 1,153.86 crore in FY22 to Rs 1,605.49 crore in FY26, a 39.1% rise, and FY26 revenue was 3.7% higher than FY25. FY26 net profit was Rs 98.67 crore. In Q1 FY27, revenue grew 15.5% to Rs 426.76 crore. Operating margin was 18.63% in FY26.<\/p>\n<p>Debt to equity is 1.10 and return on equity is 10.09%. FY26 operating cash flow was Rs 227.63 crore against capital expenditure of Rs 189.91 crore. MM Forgings paid a dividend of Rs 4 per share for FY26, a yield of 0.72%. At a P\/E of 15.84 against an industry P\/E of 51.73, the stock trades below its industry multiple.<\/p>\n<p>What to watch: Debt to equity of 1.10 is on the higher side.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Asahi_India_Glass_Auto_and_Building_Glass_Build_the_Next_Leg\"><\/span><strong>Asahi India Glass: Auto and Building Glass Build the Next Leg<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Asahi India Glass&#8217; roadmap rests on automotive glass, float glass and building glass products, with vehicle production and construction demand supporting volumes.<\/p>\n<p>Revenue grew from Rs 3,189.73 crore in FY22 to Rs 5,031.03 crore in FY26, a 57.7% rise, and FY26 revenue was 8.7% higher than FY25. FY26 net profit was Rs 345.06 crore. In Q1 FY27, revenue grew 14.5% to Rs 1,419.14 crore. Operating margin was 19.01% in FY26 and 23.73% in Q1 FY27 against 16.66% a year earlier.<\/p>\n<p>Debt to equity is 0.56 and return on equity is 8.77%. FY26 operating cash flow was Rs 501.69 crore against capital expenditure of Rs 666.26 crore. At a P\/E of 54.54 against an industry P\/E of 37.21, the stock trades above its industry multiple.<\/p>\n<p>What to watch: The P\/E of 54.54 sits above the industry P\/E of 37.21, so earnings delivery matters for the valuation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Best_Chassis_Part_Forging_and_Auto_Glass_Stocks_in_India_Belrise_vs_MM_Forgings_vs_Asahi_India_Glass_on_Key_Financials\"><\/span><strong>Best Chassis Part, Forging and Auto Glass Stocks in India: Belrise vs MM Forgings vs Asahi India Glass on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the best chassis part, forging and auto glass stocks in India, Belrise leads on FY26 revenue growth and the lowest debt to equity; MM Forgings leads on Q1 FY27 revenue growth and return on equity; Asahi India Glass leads on FY26 operating margin. The table puts the numbers side by side.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Metric<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Belrise<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">MM Forgings<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Asahi India Glass<\/th>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9,618.86<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,605.49<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,031.03<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 revenue growth<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.2%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 net profit (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">496.86<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">98.67<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">345.06<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating profit margin<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.23%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.63%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.01%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Q1 FY27 revenue growth (YoY)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Return on equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9.51%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.09%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.77%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">P\/E ratio<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">44.80<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.84<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">54.54<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Debt to equity<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.29<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.10<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.56<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">FY26 operating cash flow (Rs Cr)<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">875.60<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">227.63<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">501.69<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>Component earnings follow customer orders, plant utilisation and margins, so full-year numbers and quarterly trends together give a better view.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Evaluate_Chassis_Part_Forging_and_Auto_Glass_Stocks_to_Buy_Before_You_Invest\"><\/span><strong>How to Evaluate Chassis Part, Forging and Auto Glass Stocks to Buy Before You Invest<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A short checklist keeps the research consistent when you screen chassis part, forging and auto glass stocks and shortlist chassis part, forging and auto glass stocks to buy.<\/p>\n<ol>\n<li>Compare each stock&#8217;s P\/E with its industry P\/E, which differs by company here.<\/li>\n<li>Check operating margin, debt and customer mix together.<\/li>\n<li>Check whether revenue growth is turning into profit growth, not only sales.<\/li>\n<li>Read operating cash flow against capital expenditure to see how growth is funded.<\/li>\n<li>Watch debt to equity and interest cover before sizing a position.<\/li>\n<li>Spread exposure across companies and business lines instead of one demand cycle.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these chassis part, forging and auto glass stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Consider_Before_Investing_in_Chassis_Part_Forging_and_Auto_Glass_Stocks\"><\/span><strong>Risks to Consider Before Investing in Chassis Part, Forging and Auto Glass Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Debt and cash flow:<\/strong> MM Forgings has debt to equity of 1.10.<\/li>\n<li><strong>Customer concentration:<\/strong> A few large customers can drive a big share of orders.<\/li>\n<li><strong>Cycle exposure:<\/strong> Vehicle demand cycles can affect volumes.<\/li>\n<li><strong>Quarterly trends:<\/strong> A single weak quarter can change near-term earnings, so track results every quarter.<\/li>\n<\/ul>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Belrise, MM Forgings and Asahi India Glass live.<\/em><\/p>\n<p>Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Take_Which_Stock_Has_the_Strongest_Roadmap\"><\/span><strong>Final Take: Which Stock Has the Strongest Roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These three auto and precision components stocks cover chassis parts, forgings and glass products. Belrise leads on FY26 revenue growth and the lowest debt to equity; MM Forgings leads on Q1 FY27 revenue growth and return on equity; Asahi India Glass leads on FY26 operating margin.<\/p>\n<p>Across chassis part, forging and auto glass stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the chassis part, forging and auto glass stocks to buy discussed here.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Chassis_Part_Forging_and_Auto_Glass_Stocks\"><\/span><strong>FAQs on Chassis Part, Forging and Auto Glass Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_chassis_part_forging_and_auto_glass_stocks_in_India_with_a_strong_roadmap\"><\/span><strong>Which are the best chassis part, forging and auto glass stocks in India with a strong roadmap?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Belrise Industries, MM Forgings and Asahi India Glass stand out for their roadmaps in chassis parts, forgings and glass products. FY26 revenue growth was 15.2% at Belrise, 3.7% at MM Forgings and 8.7% at Asahi India Glass, and return on equity ranges from 8.77% to 10.09%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Belrise_Industries_a_good_stock_to_buy_now\"><\/span><strong>Is Belrise Industries a good stock to buy now?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Belrise Industries has a debt to equity ratio of 0.29, a return on equity of 9.51% and a P\/E of 44.80 against an industry P\/E of 37.01. Valuation, order flow and margins move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_PE_ratio_of_Belrise_MM_Forgings_and_Asahi_India_Glass\"><\/span><strong>What is the P\/E ratio of Belrise, MM Forgings and Asahi India Glass?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The P\/E ratio is 44.80 for Belrise (industry 37.01), 15.84 for MM Forgings (industry 51.73) and 54.54 for Asahi India Glass (industry 37.21). Only Belrise and Asahi India Glass trade at or above the industry multiple.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_of_these_chassis_part_forging_and_auto_glass_stocks_has_the_highest_return_on_equity\"><\/span><strong>Which of these chassis part, forging and auto glass stocks has the highest return on equity?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> MM Forgings has the highest return on equity at 10.09%, followed by Belrise Industries at 9.51% and Asahi India Glass at 8.77%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_chassis_part_forging_and_auto_glass_stocks\"><\/span><strong>What are the risks of investing in chassis part, forging and auto glass stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are debt and cash flow, customer concentration, cycle exposure and quarterly trends. MM Forgings has debt to equity of 1.10.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_did_Belrise_MM_Forgings_and_Asahi_India_Glass_perform_in_Q1_FY27\"><\/span><strong>How did Belrise, MM Forgings and Asahi India Glass perform in Q1 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Belrise Industries reported revenue of Rs 2,564.86 crore, up 11.9% year on year, and net profit rose 8.9% to Rs 121.67 crore. MM Forgings reported revenue of Rs 426.76 crore, up 15.5% year on year. Asahi India Glass reported revenue of Rs 1,419.14 crore, up 14.5% year on year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Do_chassis_part_forging_and_auto_glass_stocks_pay_dividends\"><\/span><strong>Do chassis part, forging and auto glass stocks pay dividends?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Belrise and MM Forgings pay dividends. The dividend yield is 0.22% for Belrise and 0.72% for MM Forgings, based on dividends declared for FY26.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_invest_in_chassis_part_forging_and_auto_glass_stocks_in_India\"><\/span><strong>How can I invest in chassis part, forging and auto glass stocks in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> You can buy chassis part, forging and auto glass stocks through a demat and trading account on NSE or BSE after checking each company&#8217;s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best chassis part, forging and auto glass stocks in India with a strong roadmap?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Belrise Industries, MM Forgings and Asahi India Glass stand out for their roadmaps in chassis parts, forgings and glass products. FY26 revenue growth was 15.2% at Belrise, 3.7% at MM Forgings and 8.7% at Asahi India Glass, and return on equity ranges from 8.77% to 10.09%.\"}},{\"@type\":\"Question\",\"name\":\"Is Belrise Industries a good stock to buy now?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Belrise Industries has a debt to equity ratio of 0.29, a return on equity of 9.51% and a P\/E of 44.80 against an industry P\/E of 37.01. 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Investments in securities are subject to market risk, so consider your risk profile first.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Belrise Industries, MM Forgings and Asahi India Glass compared on growth, margins, debt and valuation, with the roadmap and risks investors should track.<\/p>\n","protected":false},"author":29,"featured_media":306910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[7506,11000,11942,11943,11944,7055],"class_list":["post-306913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-asahi-india-glass","tag-belrise-industries","tag-chassis-part","tag-forging-and-auto-glass-stocks","tag-forging-and-auto-glass-stocks-to-buy","tag-mm-forgings"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["306910"],"rank_math_title":["Chassis Part, Forging and Auto Glass Stocks"],"rank_math_description":["Chassis part, forging and auto glass stocks with a strong roadmap: Belrise, MM Forgings and Asahi India Glass compared on growth, margins, valuation and risks."],"rank_math_focus_keyword":["chassis part, forging and auto glass stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-chassis-part-forging-and-auto-glass-stocks-with-a-strong-future-roadmap.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/306913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=306913"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/306913\/revisions"}],"predecessor-version":[{"id":306914,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/306913\/revisions\/306914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/306910"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=306913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=306913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=306913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}