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Asian Granito India Limited reports Strong Performance in H1 FY18

Posted On: 2017-11-23 01:01:07

- Revenues at Rs. 500 Crores, growth of 4%
- EBITDA grew by 14% - Rs. 67 Crores
- Profit After Tax grew at 41% - Rs. 25 Crores

Asian Granito India Limited, one of the leading manufacturers of Tiles, Marble & Quartz has declared its Unaudited Financial Results for the quarter and half year ended September 30, 2017.

Highlights of H1 FY18

- Net Revenue is at Rs. 500 Crores as compared to Rs. 483 Crores in the corresponding period of the previous year.

- EBITDA up 14% to Rs. 67 Crores as compared to Rs. 58 Crores in the corresponding period of the previous year.

- EBITDA Margins are at 13.3%, an increase of 120 bps from H1 FY17

- Profit after Tax up 41% to Rs. 25 Crores as compared to Rs. 18 Crores in the corresponding period of the previous year

- PAT Margins are at 5.1%, an increase of 140 bps from H1 FY17

Commenting on the results and performance, Mr. Kamlesh Patel, Chairman and Managing Director said: "I am glad to announce that our Company reported Topline of Rs. 500 Crores with EBITDA and PAT of Rs. 66 Crores and Rs. 25 Crores respectively in the first half of the year.

EBITDA & PAT Margins have improved by 120 basis points to 13.5% and by 140 basis points to 5.1% respectively. This is mainly due to continuous innovation by adding new value add products to out portfolio and improved efficiency of our operations.

From 1 st November, 2017 we have begun our New Brand Campaign - Chala De Jaadoo on all platforms i.e. Electronic Media, Digital Media and Outdoor Marketing PAN India.

The Government has reduced GST on Tiles and Marble from 28% to 18%. This is extremely positive for the ceramic industry as a whole. This will not only augment sector growth but will also encourage unorganised players to pay taxes which were facing problems post demonetisation and slowdown in real estate. The reform will offer level playing field for all players in the industry, reduce logistic cost, and offer scope for inorganic growth as the industry is likely to gain through consolidation post GST.

We shall further strive to improve the efficiency of our operations and continue to focus on expanding our product portfolio and increase our retail portfolio which shall help us to enhance our performance going ahead."

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.492.5 as compared to the previous close of Rs. 494.45. The total number of shares traded during the day was 12546 in over 306 trades.

The stock hit an intraday high of Rs. 498.1 and intraday low of 487. The net turnover during the day was Rs. 6193712.

Source: Equity Bulls

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