In order to strengthen the international business and boost exports, Asian Granito India Limited (AGIL), manufacturer of one of India's leading tiles brand, has recently launched a 15,000 sq ft 'AGL Export House' at Morbi, India's hub for ceramic tiles and 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 launch is crucial to the company's vision of improved international operations. It will house the complete range of sanitaryware, bath-ware, and tiles, in all designs and sizes, for trade partners. This initiative will help Asian Granito expand its network to more than 120 countries from the present network in 100 countries, leading to a better brand presence and widened outreach.
AGIL has reported excellent financial performance in Q4FY21. The company reported a consolidated EBITDA of Rs 41.33 crore on consolidated sales of Rs 434.1 crore during the Q4FY21. EBIDTA grew 100 percent Y-o-Y in the quarter under review.
Earning for the quarter has seen a significant jump driven by strong sales on account of good demand in domestic and 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 in strong revenue growth.
Consolidated net sales for the Q4FY21 reported at Rs 434.1 crore, higher by 68 percent over the previous fiscal's same period net sales of Rs 257.7 crore. Consolidated EBITDA for the Q4FY21 was reported at Rs 41.3 crore. The company reported a net profit of Rs 20.1 crore during Q4FY21.
Asian Granito India reported net sales of Rs 1,292.3 crore for the year ended March 2021, higher by 6 percent over the previous fiscal's same period net sales of Rs 1224.5 crore. EBITDA for the year ended March 2021 was reported at Rs 135.9 crore (EBITDA margin at 10.5 percent) as compared to Rs 117.7 crore (EBITDA margin at 9.6 percent) in the corresponding period last year. Net Profit for the FY2021 stood at Rs 57.2 crore (PAT margin 4.4 percent) as compared to a net profit of Rs 41.9 crore (PAT margin 3.4 percent).
Commenting on the results and performance, Kamlesh Patel, Chairman and Managing Director, Asian Granito India, 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 the first quarter, the company is able to bounce back very sharply and results in very strong number in remaining 3 quarters. It has also reduced its consolidated debt by Rs 35 crore and is committed to further reduce debts in the coming years.
Patel further added, "We have been continuously working towards cost optimization measures and improving operational efficiencies. The Company has a good presence in rural and Tier-II cities. We will continue to focus on creating value-based products for the middle class, which has been crucial for our impressive numbers in Q4FY21. To manage the challenging times at the beginning of FY2021, we laid down well-thought strategies which are aimed at fixing the semi-variable costs. In the coming quarters, the Company will be moving towards setting new standards of progress and continue to serve the customers.”