Hot Pursuit     26-Dec-23
Asian Granito spurts on commencing sanitaryware production at Gujarat
Asian Granito India rallied 7.37% to Rs 79.69 after the company has taken a strategic leap into sanitaryware production.
The company has commenced commercial operations at its wholly-owned subsidiary, AGL Sanitaryware at Morbi, Gujarat. With a strategic shift from third-party sourcing to internal manufacturing and a comprehensive product portfolio.

The firm expects turnover of around Rs 400 crore from sanitaryware & bathware division in five years. The company has embarked on a journey of Enhanced Strategic Integration Programme (ESIP) to achieve a long-term vision of achieving a total revenue of Rs 6,000 crore.

AGL Sanitaryware has successfully completed the construction of the cutting-edge plant. Installed capacity of the sanitaryware plant is 0.66 million pieces per annum and the company commence commercial operation on 1st October 2023.

The company offers an extensive range of over 300 SKUs in Sanitaryware & Bathware, covering everything from urinals and faucets to water closets, basins, table top basins, Indian sanitary pans, wall Hung Toilets, Wash Basins Pedestals, and a comprehensive choice of other high-quality sanitaryware products and accessories. The company's commitment to excellence is reflected in the use of top-tier raw materials and advanced technologies, ensuring compliance with the highest industry standards

Kamlesh Patel, chairman and managing director, Asian Granito India, said, "Previously relying on third-party manufacturers and imports, the company aims to leverage its extensive marketing and distribution network for tiles to establish a formidable presence in the sanitaryware sector. And to fortify its presence and enhance brand experience, AGL has strategically appointed a Chief Operating Officer with over 25 years of expertise in the Bathware industry, encompassing Sanitaryware and Faucetware. This move aligns with the company’s commitment to strengthening its footprint and navigating new avenues for growth.”

Hiren Patel, associate, AGL Bathware division, said, “The company envisions rapid growth and an increased market share in the sanitaryware space in the coming time. Company expect turnover of around Rs. 400 crore from Sanitaryware & Bathware division in five years.”

Asian Granito India is engaged in manufacturing and trading of Tiles and Marble and allied products.

The company reported consolidated net loss of Rs 1.26 crore in Q2 FY24 as against net loss of Rs 3.28 crore posted in Q2 FY23. Net sales rose marginally to Rs 400.93 crore in Q2 FY24 as compared with Rs 397.77 crore in Q2 FY23.

Previous News
  Asian Granito India announces board meeting date
 ( Corporate News - 12-May-22   14:57 )
  Asian Granito India inaugurates 3000 sq. ft. showroom in Hyderabad
 ( Corporate News - 14-Dec-23   09:47 )
  Asian Granito India to hold board meeting
 ( Corporate News - 01-Sep-21   15:01 )
  Asian Granito India AGM scheduled
 ( Corporate News - 13-Jul-24   13:02 )
  Asian Granito India launches AGL Tuffguard Anti-Bacterial Tile
 ( Corporate News - 02-Mar-21   13:45 )
  Asian Granito India to conduct board meeting
 ( Corporate News - 19-Jul-22   09:53 )
  Asian Granito India standalone net profit rises 25.86% in the June 2017 quarter
 ( Results - Announcements 10-Aug-17   16:49 )
  Asian Granito India consolidated net profit declines 48.89% in the December 2018 quarter
 ( Results - Announcements 13-Feb-19   17:11 )
  Asian Granito India's Rs 441 rights issue opens for subscription
 ( Corporate News - 25-Apr-22   11:01 )
  Asian Granito India consolidated net profit rises 28.27% in the June 2017 quarter
 ( Results - Announcements 10-Aug-17   16:49 )
  Asian Granito India allots 1 lakh equity shares
 ( Corporate News - 14-Oct-20   16:02 )
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