Asian Granito India Ltd. (currently trading at ₹58.80) is one of India’s leading tile and surface solution providers, offering a wide range of ceramic, vitrified, marble, quartz, and bathware products. Headquartered in Ahmedabad, Gujarat, the company operates 14 manufacturing plants and over 277 showrooms, with a presence across 18,000+ retail touchpoints. Founded in 2000, AGL has pioneered innovations like 450×450 outdoor tiles, water jet technology, and large-format slabs. It owns India’s largest single-roof wall tile plant in Morbi and exports to over 100 countries. The brand is known for its design diversity, affordability, and aggressive retail expansion.
Asian Granito – FY22–FY25 Snapshot
• Sales – ₹1,250 Cr → ₹1,380 Cr → ₹1,520 Cr → ₹1,650 Cr Growth driven by slab exports, bathware, and retail expansion • Net Profit – ₹18 Cr → ₹22 Cr → ₹28 Cr → ₹35 Cr Earnings supported by cost control and product mix • Operating Performance – Moderate → Moderate → Strong → Strong EBITDA margins improving with scale and automation • Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% No payouts; reinvestment-focused strategy • Equity Capital – ₹58.00 Cr (constant) No dilution; lean capital structure • Total Debt – ₹320 Cr → ₹300 Cr → ₹280 Cr → ₹260 Cr Gradual deleveraging supported by internal accruals • Fixed Assets – ₹620 Cr → ₹650 Cr → ₹680 Cr → ₹710 Cr Capex focused on quartz, slab lines, and bathware expansion
Institutional Interest & Ownership Trends
Promoter holding stands at 33.5%, with no pledging. FIIs and DIIs maintain limited exposure due to small-cap nature and margin volatility. Delivery volumes reflect accumulation by ceramic, infra, and retail-focused micro-cap funds.
Business Growth Verdict
Asian Granito is scaling across slabs, bathware, and export markets Margins improving due to automation and premium product mix Debt is declining steadily with strong operating cash flows Capex supports long-term competitiveness and retail footprint
Management Con Call
• Q1 FY26 revenue rose 18.5% YoY to ₹492.6 Cr; PAT at ₹7.49 Cr • EBITDA margin improved to 6.41%, highest in last 8 quarters • NCLT-convened meetings held for demerger with Adicon Ceramica & Adicon Ceramics • FY26 outlook includes 12–15% revenue growth, margin retention, and slab export scale-up
Final Investment Verdict
Asian Granito India Ltd. offers a niche building-materials story built on design innovation, export strength, and retail scale. Its improving profitability, disciplined capital structure, and expanding product depth make it suitable for accumulation by investors seeking exposure to India’s housing, infra, and lifestyle consumption themes. With strong execution, brand visibility, and slab-led margin expansion, AGL remains a durable value creator in the ceramic and surface solutions space.
Asian Granito – FY22–FY25 Snapshot
• Sales – ₹1,250 Cr → ₹1,380 Cr → ₹1,520 Cr → ₹1,650 Cr Growth driven by slab exports, bathware, and retail expansion • Net Profit – ₹18 Cr → ₹22 Cr → ₹28 Cr → ₹35 Cr Earnings supported by cost control and product mix • Operating Performance – Moderate → Moderate → Strong → Strong EBITDA margins improving with scale and automation • Dividend Yield (%) – 0.00% → 0.00% → 0.00% → 0.00% No payouts; reinvestment-focused strategy • Equity Capital – ₹58.00 Cr (constant) No dilution; lean capital structure • Total Debt – ₹320 Cr → ₹300 Cr → ₹280 Cr → ₹260 Cr Gradual deleveraging supported by internal accruals • Fixed Assets – ₹620 Cr → ₹650 Cr → ₹680 Cr → ₹710 Cr Capex focused on quartz, slab lines, and bathware expansion
Institutional Interest & Ownership Trends
Promoter holding stands at 33.5%, with no pledging. FIIs and DIIs maintain limited exposure due to small-cap nature and margin volatility. Delivery volumes reflect accumulation by ceramic, infra, and retail-focused micro-cap funds.
Business Growth Verdict
Asian Granito is scaling across slabs, bathware, and export markets Margins improving due to automation and premium product mix Debt is declining steadily with strong operating cash flows Capex supports long-term competitiveness and retail footprint
Management Con Call
• Q1 FY26 revenue rose 18.5% YoY to ₹492.6 Cr; PAT at ₹7.49 Cr • EBITDA margin improved to 6.41%, highest in last 8 quarters • NCLT-convened meetings held for demerger with Adicon Ceramica & Adicon Ceramics • FY26 outlook includes 12–15% revenue growth, margin retention, and slab export scale-up
Final Investment Verdict
Asian Granito India Ltd. offers a niche building-materials story built on design innovation, export strength, and retail scale. Its improving profitability, disciplined capital structure, and expanding product depth make it suitable for accumulation by investors seeking exposure to India’s housing, infra, and lifestyle consumption themes. With strong execution, brand visibility, and slab-led margin expansion, AGL remains a durable value creator in the ceramic and surface solutions space.
Sucrit.D.Patil
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Sucrit.D.Patil
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.