Q1 2025: Asian Granito India posts profit of Rs 3.5 Mn
ECONOMY & POLICY

Q1 2025: Asian Granito India posts profit of Rs 3.5 Mn

Asian Granito India has reported a net consolidated profit after tax of Rs 3.5 million for the quarter ending June 30, 2024. Kamlesh Patel, the chairman and managing director of the company, stated that the company has begun the financial year with improved operational and financial performance in Q1 FY25. He mentioned that the company aims to achieve total revenue of Rs 60 billion, driven by a visionary long-term strategy.

The board of directors has approved the management's proposal to enter the market of GCC countries by incorporating a wholly-owned subsidiary or foreign subsidiary in Sharjah or Dubai, with the objective of undertaking trading activities related to ceramic and porcelain tiles.

Furthermore, the board considered and approved the disinvestment of up to 49% of the company's stake in Harmony Surfaces Marbles Trading LLC, a Sharjah-based wholly-owned subsidiary, by selling or transferring shares to one or more proposed investors. The consolidated net sales for the first quarter of FY24-25 showed a growth of 3%, reaching Rs 3.43 billion compared to Rs 3.34 billion in Q1 FY23-24.

The company has completed its expansion plans by establishing manufacturing units under Future Ceramic and AGL Sanitaryware. Additionally, on July 4, 2024, the board approved a proposal to increase the authorised capital of the company from Rs 1.5 billion. In June 2024, the company incorporated a subsidiary, AGL Stones LLP, with the objective of carrying out trading activities in various types of tiles, primarily large slab tiles and quartz slabs, specifically focusing on exports to the USA market. Asian Granito India holds a 51% stake in this venture.

Asian Granito India has reported a net consolidated profit after tax of Rs 3.5 million for the quarter ending June 30, 2024. Kamlesh Patel, the chairman and managing director of the company, stated that the company has begun the financial year with improved operational and financial performance in Q1 FY25. He mentioned that the company aims to achieve total revenue of Rs 60 billion, driven by a visionary long-term strategy. The board of directors has approved the management's proposal to enter the market of GCC countries by incorporating a wholly-owned subsidiary or foreign subsidiary in Sharjah or Dubai, with the objective of undertaking trading activities related to ceramic and porcelain tiles. Furthermore, the board considered and approved the disinvestment of up to 49% of the company's stake in Harmony Surfaces Marbles Trading LLC, a Sharjah-based wholly-owned subsidiary, by selling or transferring shares to one or more proposed investors. The consolidated net sales for the first quarter of FY24-25 showed a growth of 3%, reaching Rs 3.43 billion compared to Rs 3.34 billion in Q1 FY23-24. The company has completed its expansion plans by establishing manufacturing units under Future Ceramic and AGL Sanitaryware. Additionally, on July 4, 2024, the board approved a proposal to increase the authorised capital of the company from Rs 1.5 billion. In June 2024, the company incorporated a subsidiary, AGL Stones LLP, with the objective of carrying out trading activities in various types of tiles, primarily large slab tiles and quartz slabs, specifically focusing on exports to the USA market. Asian Granito India holds a 51% stake in this venture.

Next Story
Infrastructure Transport

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

Next Story
Infrastructure Urban

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

Next Story
Technology

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?