- Asian Granito India Limited (AGIL), one of India’s leading tile companies, is aiming to continue the strong growth momentum in FY 22.
- The company has recently announced a rights issue of Rs225cr, proceeds of the issue to be utilized to reduce debt and for expansion purposes.
- For the Q4FY21, the company posted a healthy 68% growth in net sales, 100% growth in EBITDA, and 181% growth in Net profit yoy . Exports for Q4FY21 registered 42% growth. This performance was achieved on the back of robust demand in the Tier 2,3 cities & rural areas along with strong demand from exports.
- Asian Granito India Ltd is currently trading at Rs178.65 up by Rs0.55 or 0.31% from its previous closing of Rs178.10 on the BSE. The scrip opened at Rs181 and has touched a high and low of Rs181.55 and Rs177.95 respectively.
- The company targets to increase its retail touchpoint to over 10,000, expand exclusive showrooms to over 500. Going forward, the company plans to increase retail sales to 50% of total sales.
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