Asian Granito on a Strong Growth Momentum for FY22


Company has announced Rs. 225 crore Rights Issue to reduce debt and expand


  • For the Q4FY21, company on consolidated basis posted 68% growth in the net sales, 100% growth in EBITDA and 181% growth in Net profit Y-o-Y
  • With improvement in operational efficiency, financial prudence and healthy product mix, EBITDA margins improved to 9.5% in the quarter ended March FY21. Capacity utilisation improved to 95% in Mar 21
  • Change in business strategy from B2B to B2C resulted in doubling retail sales to 42% in FY21
  • Targets to increase its touch points to over 10,000, expand exclusive showrooms to over 500. 

Ahmedabad, July 20 2021: Asian Granito India Limited (AGIL), one of India's leading tiles companies, is aiming to continue the strong growth momentum in FY 22. Strategic growth initiatives, operational efficiencies, financial prudence, geographical and product expansion along with low capex and asset light model for expansion are likely to drive the growth in the revenue and margins for the current financial year. Company has recently announced a rights issue of Rs. 225 crore, proceeds of the issue to be utilised to reduce debt and for expansion purpose. 

For the Q4FY21, the company posted healthy 68% growth in the net sales, 100% growth in EBITDA and 181% growth in Net profit Y-o-Y. Exports for Q4FY21 registered 42% growth. This performance was achieved on the back of robust demand in the Tier 2,3 cities & rural areas along with strong demand from exports. 

Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, "Company has taken many initiatives in the last few years for improving operational efficiency, financial prudence, cost optimisation which has resulted in the strong performance in the Q4FY21. Further in-order to arbitrage the price of natural gas, management has decided to replace natural gas with Propane gas whenever the price of propane goes below natural gas price. We believe that demand is likely to remain strong in domestic as well as international markets on account of government spending, revival of demand in Tier 2 & 3 cities, replacement demand etc."

The Companys average capacity utilizations for the Q4FY21 was 95%, owing to good domestic and international demand. With an improvement in operational efficiency, financial prudence and healthy product mix, EBITDA margins of the company has improved to 9.5% in the quarter ended March 21. 

"The company has gradually shifted from a B2B to B2C business model, focusing on Asset light and Capital light model for expansion. Today, retail sales contribute 42% of the company's total sales which was around 20% a few years back. The improvement in retail sales has resulted in creating a strong brand value for the company, reduced dependency on low margin project business and improvement in margins. Strategically company has reduced its overall consolidated debt by Rs. 35 crores, resulting in debt equity ratio of less than 0.5x. Company is further committed to reduce debt in coming years," said Mr. Patel.  

Company targets to increase its retail touch points to over 10,000, expand exclusive showrooms to over 500. Going forward company plans to increase retail sales to 50% of total sales. 

Asian Granito India Ltd has the widest range of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble, composite marble & Quartz, etc. To provide a complete bathing solution to its customers, the Company added CP Fittings and Faucets to its sanitary division. We believe that the ceramic industry will continue to show impressive performance in coming years. We are looking forward to repeating the current years success in the coming years too.

About Asian Granito India Limited 

Established in the year 2000, Asian Granito India Ltd. (AGIL) has emerged as India's leading home decor brand in a short span of two decades. The company manufactures and markets a wide range of Tiles, Engineered Marble and Quartz. AGIL products are synonymous with reliability, adaptability, innovation, quality consciousness and the company has created a strong brand identity, well recognized globally and loyal customer following across segments. 

Ranked amongst the top ceramic tiles companies in India, AGIL has achieved nearly 40 times growth in its production capacity, from 2,500 square meters per day in the year 2000 to nearly 94,000 square meters per day, as of now. AGIL was also the only tiles company to be acknowledged in the Vibrant Gujarat Summit 2015 for phenomenal growth. 

The Company has 9 state-of-the-art manufacturing units spread across Gujarat and 303 exclusive showrooms, 14 display centers across India. Further, the company has an extensive marketing and distribution network pan India as well as export markets.

The company looks to strengthen its identity as the leader in the Indian ceramic industry by consistently introducing innovative and value-added products in the market to keep pace with its valued customers. Headquartered in Ahmedabad, AGIL is listed on NSE & BSE and reported net consolidated turnover of INR 1292.3 crore in 2020-21. Company exports to more than 100 countries. (For more information, please visit:

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