Asian Granito India Ltd sets revenue target of Rs. 2,000 Crore in its vision 2020

Company commissions 3rd line of quartz stone facility at Himmatnagar; Received orders worth Rs. 25 crore for quartz stone from domestic and export markets

·         Aims to be among the top 3 tiles companies in India by 2020
·         Quartz stone and marble segment is estimated to grow to Rs. 350 crore by 2020
·         Launched 20mm & 30mm thickness slabs of quartz in  large format of 10.5 feet X 5.25 feet
May 2, 2017: Asian Granito India Limited (AGIL), one of India’s largest tiles companies is planning to double its revenues in coming 3-4 years. Company has set a revenue target of Rs. 2,000 crore and aim to be among the top 3 tiles companies in India in its vision for 2020. Company will focus on high value products including glazed vitrified tiles, digital ceramic tiles and marble & quartz going forward in addition to asset light business model for manufacturing to achieve this target.

Marble and quartz stone segment is one of the top focus areas for the company going forward. Company has recently completed expansion of the 3rd line for quartz stone at its Himmatnagar plant and started commercial production this month. Post the expansion, company has doubled its quartz stone capacity to 1,600 square meters per day investing Rs. 20 crore. Company has launched quartz in the large format of 10.5 feet X 5.25 feet at the new facility and has received orders worth Rs. 25 crore from domestic and exports market.

Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd, said, “The expansion in quartz is in line with company’s strategy to focus on high-end and value added products. Company has launched quartz slab of 20mm & 30mm thickness from the new facility and has received very good response from both the domestic as well as export market. Company has come a long way in a short span to emerge as one of the largest ceramic tiles companies of India. Going forward we have a vision to be among the top 3 tiles companies and reach revenue of Rs. 2,000 crore by year 2020. We expect the quartz stone and marble segment to grow to Rs. 350 crore turnover by 2020.”

The new expansion at quartz is likely to fetch additional sales of Rs. 60 crore in FY 17-18. Post expansion, company will be doubling the capacity of its quartz stone to 5.28 lakh square meter per annum (1,600 square meter per day) in FY 17-18 from existing 2.64 lakh square meter (800 square meter per day).

Mr. Mukesh Patel, Managing Director, Asian Granito India Ltd, said, “Market for quartz stone in India is estimated at around Rs. 200-250 crore and growing at 25-30% per annum. Quartz is a premium product and hence we expect to earn a healthy EBITDA margin in the range of 30-32%. Company also aims to expand its retail sales and aims to increase share of retail sales to 50% from 35% currently. Company will aggressively expand its dealer-distributor network and showrooms to achieve this target.”

Quartz has fast emerged as the latest trend for flooring solution and its demand is growing across the world on account of aesthetics, durability, strength, variety and less wastage or damage compared to natural Marble. Quartz slabs are mostly preferred for use in the high traffic areas such as malls, airport, railway station, hospitals, commercial spaces etc. United States is the biggest market for quartz followed by Europe, Canada, Australia and New Zeland.

Asian Granito India Ltd. (AGIL) has emerged as one of the largest ceramic companies of India in a short span of 16 years from 2,500 square metres per day in the year 2000 to over 1 lakh square metres currently (including outsourcing). Company offers wide rand of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble composite & Quartz etc.