Asian Granito reports growth of 126% in Q3
Company News

Asian Granito reports growth of 126% in Q3

Asian Granito India Limited (AGIL), a tiles manufacturer, has reported a net profit of Rs 24.9 crore during Q3FY21, growth of 126% as compared to a net profit of Rs 11 crore in the corresponding period last year.

Consolidated net sales for the quarter ended December 2020 was reported at Rs 384.6 crores, up by 29% over previous fiscal’s same period net sales of Rs 297.9 crore. Consolidated EBITDA for the quarter ended December 2020 was reported Rs 49.5 crore. Exports for the quarter were at Rs 54 crore, grew by 41% y-o-y. While the tiles division posted strong revenue growth of 36% y-o-y.

According to a company news release, the company attributes its success to its impact in the overseas market, steps taken to enhance the operations, efficiency and better retail presence. During the quarter, tiles division saw strong traction in demand from domestic as well as from the export market, resulting in strong revenue growth.

Financial Highlights (Consolidated)


Q3FY21

Q3FY20

Y-O-Y 

9MFY21

9MFY20

Y-O-Y

Net Sales (Rs  Cr)

384.5

297.9

29.1%

858.2

966.8

-11.2%

EBITDA (Rs  Cr)

49.5

33.5

47.6%

94.6

97.0

-2.5%

EBITDA Margin (%)

12.9

11.3

160 bps

11.0

10.0

100 Bps

Net Profit (Rs  Cr)

24.9

11.0

125.6%

37.2

34.9

6.8%

Net Profit Margin (%)

6.5

3.7

280 bps

4.3

3.6

70 Bps

Kamlesh Patel, Chairman and Managing Director, said crucial factors that proved advantageous were what he termed “anti-China sentiments”, lower gas prices, and massive export orders from the US, European and Middle East markets.

Written from a company news release.

Asian Granito India Limited (AGIL), a tiles manufacturer, has reported a net profit of Rs 24.9 crore during Q3FY21, growth of 126% as compared to a net profit of Rs 11 crore in the corresponding period last year. Consolidated net sales for the quarter ended December 2020 was reported at Rs 384.6 crores, up by 29% over previous fiscal’s same period net sales of Rs 297.9 crore. Consolidated EBITDA for the quarter ended December 2020 was reported Rs 49.5 crore. Exports for the quarter were at Rs 54 crore, grew by 41% y-o-y. While the tiles division posted strong revenue growth of 36% y-o-y. According to a company news release, the company attributes its success to its impact in the overseas market, steps taken to enhance the operations, efficiency and better retail presence. During the quarter, tiles division saw strong traction in demand from domestic as well as from the export market, resulting in strong revenue growth.Financial Highlights (Consolidated)Q3FY21Q3FY20Y-O-Y 9MFY219MFY20Y-O-YNet Sales (Rs  Cr)384.5297.929.1%858.2966.8-11.2%EBITDA (Rs  Cr)49.533.547.6%94.697.0-2.5%EBITDA Margin (%)12.911.3160 bps11.010.0100 BpsNet Profit (Rs  Cr)24.911.0125.6%37.234.96.8%Net Profit Margin (%)6.53.7280 bps4.33.670 Bps Kamlesh Patel, Chairman and Managing Director, said crucial factors that proved advantageous were what he termed “anti-China sentiments”, lower gas prices, and massive export orders from the US, European and Middle East markets. Written from a company news release.

Next Story
Infrastructure Urban

India, EU Unite for Research on Marine Plastic & Waste-to-Hydrogen

India and the European Union (EU) have launched two major research and innovation initiatives under the India-EU Trade and Technology Council (TTC). The TTC was established in 2022, by Indian Prime Minister Narendra Modi and European Commission President, Ursula von der Leyen to strengthen the bilateral partnership on trade and technology. With a joint investment of Rs 3.91 billion, the initiatives focus on two coordinated calls in the areas of Marine Plastic Litter (MPL) and Waste to Green Hydrogen (W2GH), co-funded by Horizon Europe—the EU’s research and innovation framework programme—..

Next Story
Infrastructure Urban

Dr Ajay Kumar Takes Over as UPSC Chairman

Dr Ajay Kumar, Former Secretary, Ministry of Defence took the Oath of Office and Secrecy as Chairman, Union Public Service Commission today. The Oath was administered by Lt Gen Raj Shukla (Retd.), the senior most Member of the Commission.Having pursued a B Tech. in Electrical Engineering from the Indian Institute of Technology, Kanpur, Dr Ajay Kumar has done his MS in Applied Economics from the University of Minnesota, USA and PhD in Business Administration from Carlson School of Management, University of Minnesota, USA. He was also conferred an Hon. Doctor of Philosophy by Amity University in..

Next Story
Infrastructure Urban

MSME Ministry Invites Applications for National Award 2024

The Ministry of Micro, Small and Medium Enterprises (MSME) has acknowledged the significant contributions made by MSME entrepreneurs and aims to motivate and encourage them by presenting National Awards for outstanding performance. Currently, there are 35 National Awards offered to MSMEs across various categories. Special provisions have been made to recognize MSMEs led by women entrepreneurs, those belonging to Scheduled Castes (SC) and Scheduled Tribes (ST), and entrepreneurs from the North Eastern Region.Under this scheme, selected MSMEs are honored with a trophy and certificate, along with..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?