Asian Granito India Ltd Share Price – NSE  /  BSE

Ceramic Products, Small Cap

Net Loss of Asian Granito India reported to Rs 6.21 crore in the quarter ended December 2023 as against net loss of Rs 22.62 crore during the previous quarter ended December 2022. Sales declined 7.00% to Rs 371.23 crore in the quarter ended December 2023 as against Rs 399.17 crore during the previous quarter ended December 2022.

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Net profit of Asian Granito India reported to Rs 6.44 crore in the quarter ended December 2023 as against net loss of Rs 10.17 crore during the previous quarter ended December 2022. Sales declined 5.76% to Rs 320.24 crore in the quarter ended December 2023 as against Rs 339.80 crore during the previous quarter ended December 2022.

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Asian Granito India will hold a meeting of the Board of Directors of the Company on 30 January 2024.

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The company has commenced commercial operations at its wholly-owned subsidiary, AGL Sanitaryware at Morbi, Gujarat. With a strategic shift from third-party sourcing to internal manufacturing and a comprehensive product portfolio.

The firm expects turnover of around Rs 400 crore from sanitaryware & bathware division in five years. The company has embarked on a journey of Enhanced Strategic Integration Programme (ESIP) to achieve a long-term vision of achieving a total revenue of Rs 6,000 crore.

AGL Sanitaryware has successfully completed the construction of the cutting-edge plant. Installed capacity of the sanitaryware plant is 0.66 million pieces per annum and the company commence commercial operation on 1st October 2023.

The company offers an extensive range of over 300 SKUs in Sanitaryware & Bathware, covering everything from urinals and faucets to water closets, basins, table top basins, Indian sanitary pans, wall Hung Toilets, Wash Basins Pedestals, and a comprehensive choice of other high-quality sanitaryware products and accessories. The company's commitment to excellence is reflected in the use of top-tier raw materials and advanced technologies, ensuring compliance with the highest industry standards

Kamlesh Patel, chairman and managing director, Asian Granito India, said, Previously relying on third-party manufacturers and imports, the company aims to leverage its extensive marketing and distribution network for tiles to establish a formidable presence in the sanitaryware sector. And to fortify its presence and enhance brand experience, AGL has strategically appointed a Chief Operating Officer with over 25 years of expertise in the Bathware industry, encompassing Sanitaryware and Faucetware. This move aligns with the company’s commitment to strengthening its footprint and navigating new avenues for growth.”

Hiren Patel, associate, AGL Bathware division, said, “The company envisions rapid growth and an increased market share in the sanitaryware space in the coming time. Company expect turnover of around Rs. 400 crore from Sanitaryware & Bathware division in five years.”

Asian Granito India is engaged in manufacturing and trading of Tiles and Marble and allied products.

The company reported consolidated net loss of Rs 1.26 crore in Q2 FY24 as against net loss of Rs 3.28 crore posted in Q2 FY23. Net sales rose marginally to Rs 400.93 crore in Q2 FY24 as compared with Rs 397.77 crore in Q2 FY23.

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