Asian Granito plans Rs 400 cr business exports in 2021
Interiors

Asian Granito plans Rs 400 cr business exports in 2021

Home decor company Asian Granito Limited (AGL) has planned business exports of Rs 400 crore in FY22 and to grow its business network in 120 countries.

The company consolidated exports sales of Rs 216 crore with its business network in 100 countries in FY20-21.

It said anti-China opinions, lower duties on exports to the US, robust exports from Europe, UK and the Middle East, and the US driving Indian exports.

Chairman and Managing Director of AGL, Kamlesh Patel, told the media that despite the Covid-19 pandemic, the demand from the international market continued.

He said that exports in the last three months increased considerably and continue to increase due to the ongoing dispute between the US and China. The large players in the industry are working with 80% to 85% capacity because of robust export demand.

Across the world, India stands in the second position and produces about 13% of global ceramic tiles. With the increased duties on Chinese products, Indian tile productions are more competitive globally.

The United States imposed up to 356% anti-dumping duty and 358.8% anti-subsidy duties on Chinese ceramic tile products.

AGL witnessed a profit of Rs 57 crore in FY21, with 36% year-on-year growth. The company's net sales witnessed Rs 1,292 crore, with 6% growth, and the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was Rs 136 crore with a 16% increase.

Recently, it announced a rights issue of Rs 224.65 crore to repay and prepay the dues, meeting the requirements of the working capital for business and general corporate objectives.

The rights issue was offered at Rs 100 apiece, along with a 40% discount to the current price of the share of Rs 166 apiece on 3th September 2021, and it will close on 7th October 2021.

Image Source


Also read: Godrej Interio boosts digital drive for a richer consumer experience

Home decor company Asian Granito Limited (AGL) has planned business exports of Rs 400 crore in FY22 and to grow its business network in 120 countries. The company consolidated exports sales of Rs 216 crore with its business network in 100 countries in FY20-21. It said anti-China opinions, lower duties on exports to the US, robust exports from Europe, UK and the Middle East, and the US driving Indian exports. Chairman and Managing Director of AGL, Kamlesh Patel, told the media that despite the Covid-19 pandemic, the demand from the international market continued. He said that exports in the last three months increased considerably and continue to increase due to the ongoing dispute between the US and China. The large players in the industry are working with 80% to 85% capacity because of robust export demand. Across the world, India stands in the second position and produces about 13% of global ceramic tiles. With the increased duties on Chinese products, Indian tile productions are more competitive globally. The United States imposed up to 356% anti-dumping duty and 358.8% anti-subsidy duties on Chinese ceramic tile products. AGL witnessed a profit of Rs 57 crore in FY21, with 36% year-on-year growth. The company's net sales witnessed Rs 1,292 crore, with 6% growth, and the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was Rs 136 crore with a 16% increase. Recently, it announced a rights issue of Rs 224.65 crore to repay and prepay the dues, meeting the requirements of the working capital for business and general corporate objectives. The rights issue was offered at Rs 100 apiece, along with a 40% discount to the current price of the share of Rs 166 apiece on 3th September 2021, and it will close on 7th October 2021. Image SourceAlso read: Godrej Interio boosts digital drive for a richer consumer experience

Related Stories

Gold Stories

Next Story
Infrastructure Energy

Asian Energy Services Q1 FY27 PAT Rises 129 Per Cent

Asian Energy Services Limited reported a 129 per cent year-on-year rise in net profit to Rs 128 million for Q1 FY27, compared with the corresponding quarter last year.Revenue increased 135 per cent year-on-year to Rs 2.71 billion, supported by continued momentum across its services business, disciplined execution and contributions from domestic and international operations. EBITDA grew 81 per cent year-on-year during the quarter.As of June 30, 2026, the company’s standalone order book stood at Rs 17.54 billion, with around 60 per cent coming from oil and gas services and 40 per cent from min..

Next Story
Infrastructure Urban

BioBTX to Build First Commercial-Scale Circular Chemicals Plant

Dutch circular chemistry technology developer BioBTX is building what it says will be the world’s first commercial-scale plant to convert mixed plastic waste into high-quality aromatic chemicals using its proprietary Integrated Catalytic Cracking Process (ICCP) technology.The facility will be built at Chemical Park Delfzijl on the northern coast of the Netherlands and is expected to create 35 jobs. Covestro, which has been a shareholder and strategic partner of BioBTX since 2024, holds a mid-single-digit million-euro investment in the company.BioBTX’s ICCP technology uses catalytic pyrolys..

Next Story
Real Estate

Awfis Q1 FY27 PAT Jumps 140% as Revenue Rises 27%

Awfis Space Solutions reported a 140 per cent year-on-year rise in consolidated profit after tax (PAT) to Rs 240 million for Q1 FY27, compared with Rs 100 million in the corresponding quarter last year.Revenue from operations increased 27 per cent to Rs 4.25 billion from Rs 3.35 billion, while EBITDA rose 28 per cent to Rs 1.62 billion. EBITDA margin improved to 38.2 per cent from 37.8 per cent. Profit before tax increased 135 per cent to Rs 240 million.The company's co-working business recorded 27 per cent year-on-year growth, supported by demand from enterprises, Global Capability Centres (G..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement