Ahmedabad, June 29, 2021: Asian Granito India Limited (AGIL), one of India's leading tiles companies has completed a major expansion at its subsidiary, Crystal Ceramic Industries Pvt Ltd (Crystal Ceramics). Crystal Ceramics added brown field expansion of 12,000 Square meters per day in a new production line of Glazed Vitrified Tiles at its Mehsana Plant in Gujarat. Crystal Ceramics Industries Limited has invested Rs. 25 crores for this expansion. Asian Granito holds a 70% equity stake in Crystal Ceramics.
This expansion will increase the total capacity of Crystal Ceramics to 36,000 Square meters per day. Crystal Ceramics will be manufacturing large format 600X1200 mm GVT tiles for domestic and export markets. The capacity addition of 12,000 Square meter per day will add an incremental sales of around Rs. 70-75 crore per annum in Crystal Ceramics and Asian Granito India Limited consolidated turnover. Crystal Ceramics reported Turnover of Rs. 184.45 crores in FY 21.
Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd said, "This strategic brownfield expansion was planned keeping in mind low cost natural gas benefit at Crystal Ceramics, which helps the company to further reduce its manufacturing cost. With this capacity expansion Asian Granito on a consolidated basis will further improve its market share in the domestic and export market. We have been continuously working towards cost optimization measures and improving operational efficiencies. The Company has a good presence in rural and Tier-II cities. We will continue to focus on creating value-based products for the middle class, which has been crucial for the growth of the company."
For FY 21, Company reported a net profit of Rs. 57.23 crores on consolidated basis - growth of 36% Y-o-Y. Net sales for FY 21 was reported at Rs. 1,292 crores with 6% growth Y-o-Y and EBITDA was reported at Rs. 135.95 crore with 16% growth Y-o-Y. EBITDA Margin improved 91 basis points to 10.5% in FY 21 while Net profit margin improved by 100 basis points to 4.4%.
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 year’s success in the coming years too.
User :- Gopal Modi