Asian Granito Aims 2,000 Cr Revenue in 3 Years
Ceramic products maker Asian Granito India Ltd aims to clock Rs 2,000 crore revenue in the next two to three years, helped by expansion of sales network in the domestic market and exports, according to the company. Though the company is anticipating "temporary hiccups due to COVID-19 in the short term", it is confident of bouncing back on its growth path in the long term with its focused growth strategy. Asian Granito India Ltd (AGIL) expects that demand from real estate sector could take a little longer to recover but growth in the current fiscal could be driven by demand from the retail sector, especially from rural, tier-II and semi-urban areas, and exports. According to the Gujarat-based company, demand from metros and other major cities, which consists of a bulk of premium products, has taken a hit due to the coronavirus pandemic. However, semi-urban and rural markets have recovered quickly and demand is coming from these areas. AGIL, which has a retail presence with 300 plus exclusive showrooms and more than 6,500 touchpoints, plans to expand them further. The company plans to increase its retail touchpoints to over 10,000, Exclusive showrooms to 500 plus. It is also investing on the digital side and has converted a lot of physical activities into digital mode. This is in addition to traditional methods of communication, sample distribution, approval and showcasing products. In FY 2019-20, AGIL's export revenue was around Rs 170 crore, adding that it is looking to double the same in the next two to three years. The company expects the quartz stone and marble segment to have Rs 500 crore turnover in the next two to three years.
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