New Delhi: Asian Granito India Limited (AGIL), India’s one of the leading luxury surfaces and bathware brands has reported its highest ever Quarterly Consolidated Net Sales of Rs. 436.6 crores for the Q3FY22. Consolidated EBITDA and Net Profit for Q3FY22 stood at Rs. 37.1 crores and Rs. 17.8 crores respectively. In-spite of extraordinary pressure on inputs costs i.e. gas prices, raw material, coal prices and international freight costs, etc., company was able to keep the decline in operating margins to the lowest amongst its large peers in the industry, thanks to its efficient product mix and strong pass on strategy for escalated costs. To further strengthen its market share and presence in the markets across the globe, company has lined up major expansions in the Tiles and Bathware segment and has incorporated three new entities to achieve the desired scale.
New entities incorporated:-
§ AGL Surfaces Pvt Ltd (a wholly owned subsidiary / 100% ownership of Asian Granito India Ltd) incorporated on 12th January, 2022 for Manufacturing of SPC flooring products to be marketed under ‘AGL’ Brand.
§ AGL Sanitaryware Pvt Ltd (wholly owned subsidiary / 100% ownership of Asian Granito India Ltd) incorporated on 7th February, 2022 for Manufacturing of sanitaryware products to be marketed under ‘AGL’ Brand’.
§ Future Ceramic Pvt Ltd (wholly owned subsidiary / 100% ownership of Asian Granito India Ltd) incorporated on 3rd February, 2022 for Manufacturing of large format Glazed Vitrified Tiles to be marketed under ‘AGL’ Brand.
Additional Strategic Initiatives:
As part of its continuing endeavor to achieve newer scale and enhance profitability, through providing integrated offering under single umbrella, Company has lined up following additional strategic initiatives:
· Company is setting up one of the world’s largest showroom at India’s Ceramic Tiles hub – Morbi, Gujarat to display AGL Group’s entire product range under one roof i.e. Tiles, Sanitaryware, Bathware, Quartz & Engineered Marble, etc.
· Asian Granito India Limited is planning to add 800 sq. mtrs per day of Quartz production capacity at its existing Quartz Manufacturing Plant at Dalpur. Post this expansion, the production capacity will stand at approx. 2,400 sq mtrs per day.
· Amazoone Ceramics Ltd (a material subsidiary of Asian Granito India Ltd. with a shareholding of 95.32%) is setting up a Quartz Manufacturing facility with production capacity of approx. 1,800 sq. mtrs per day.
· Gresart Ceramica Private Ltd, a step down subsidiary of AGIL is incorporated to set up India’s largest wall tile plant in Morbi, with an estimated capex of around Rs. 75 crores. Commercial Production is estimated to commence in H2FY23. Amazoone Ceramics Ltd (material subsidiary of Asian Granito India Ltd. with a shareholding of 95.32%) holds 61.04% stake in Gresart Ceramica Private Limited.