Asian Granito India Limited (AGL), one of the country’s largest Luxury Surfaces and Bathware Solutions brands, reported a strong financial performance in FY22. The company reported its highest ever Yearly Sales, EBITDA, and Net Profit for the fiscal year ended March 2022, owing to healthy volume growth and improved realisation.
The company has successfully closed a Rs. 440.96 crore rights issue to fund expansion in the value added luxury surfaces and bathware segment, which includes GVT tiles, sanitaryware, and SPC flooring, among other things. For fiscal year 2021-22, the company has proposed a dividend of 7%, or Rs. 0.70 per share, on a face value of Rs. 10 per share.
“Led by healthy volume growth and better realization, company reported its highest ever Yearly Sales and Net Profit for the FY ended March 2022. Thanks to the efficient product mix and strategy to pass the escalated costs, company was able strengthen its market share and presence in the domestic and global markets. Ceramic industry has faced extraordinary pressure on inputs costs in FY22 i.e. gas prices, raw material, coal prices and international freight costs, etc.,”said CMO of AGL Kamlesh Patel.
He further added that, “Inspite of the challenges, company has continued to process on the growth path and reported good numbers for the Q4 as well as full year of FY22. As goal to achieve company have become debt free at standalone level now moving towards next aim to become debt free on consolidated level.”