Asian Granito India Reports Net Profit of Rs. 20 Cr in Q4 FY21
Asian Granito India Limited (AGIL), manufacturer of one of India’s leading tiles brand has reported an excellent financial performance in Q4FY21. Company reported consolidated EBITDA of INR 41.33 crore on consolidated sales of INR 434.1 crore during the Q4FY21. EBIDTA grew 100% Y-o-Y in quarter under review. Earning for the quarter has seen significant jump driven by Strong sales on account of good demand in domestic & overseas market, steps taken to enhance the operations, efficiency and better retail and government presence. During the quarter, tiles division has seen strong traction in demand from domestic as well as from export market resulting strong revenue growth. Kamlesh Patel, Chairman and Managing Director said, "As Q4FY21 has concluded, we are happy to announce that the Company’s performance has improved considerably compared last year same period. This has been possible by facing the challenges, drawing effective strategies and marching with determination. The Indian ceramic industry has benefitted from the rising demands of global players. As a result, the large players have improved the working capacity of their plants by a huge margin. Further advantages for the domestic industry have been the reduced gas prices in major part of the year and the anti-China sentiments.” In-spite lockdown in first quarter our company is able to bounce back very sharply and results very strong number in remaining 3 quarters. Company has also reduced its consolidated debt by INR 35 crore and we are committed to further reduce debts in coming years. Further to strengthen international business and boost exports, company has launched 15,000 sq ft 'AGL Export House' at Morbi - India's hub for ceramic tiles & sanitaryware. AGL has launched a new ‘AGL EXPORT HOUSE’, a 15,000 sq ft hub at Morbi to improve international business and meet the demands. This will be crucial to the Company’s vision of improved international operations. It will house the complete range of sanitaryware, bathware and tiles, in all designs and sizes, for our trade partners. This initiative will help the Company expand its network to more than 120 countries from present network in 100 countries, leading to a better brand presence and widened outreach.
Tags : ALLIED Profit Tiles India Kamlesh Patel Morbi Sanitaryware Bathware Asian Granito India Limited (AGIL) ceramic tiles