+
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

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?