Asian Granito India Ltd

₹ 44.5 -0.60%

13 Nov - close price

aglasiangranito.com BSE: 532888 NSE: ASIANTILES

About

Incorporated in 1995, Asian Granito manufactures and trades Tiles, Marble and allied products^[1]

Key Points

Business Overview^[1]^[2]
The company makes ceramic
tiles and sanitaryware which
covers tiles, engineered marble,
quartz, sanitaryware, faucets
and bath ware.
Tiles are the company's largest
vertical which includes ceramic
wall tiles, GVT, PGVT, full body,
large slab and mosaic, sold under
sub-brands Classico, Grestek,
Marblex, Grandura /Hardstone
and Fresco. It has made engineered
marble since FY09 and quartz since
FY11. The company states that it is
the only Indian tile company that
makes both.

Website BSE NSE

Market Cap ₹ 1,318 Cr.
Current Price ₹ 44.5
High / Low ₹ 79.1 / 42.5
Stock P/E
Book Value ₹ 51.0
Dividend Yield 0.00 %
ROCE 0.95 %
ROE 0.10 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.87 times its book value

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -1.89%
The company has delivered a poor sales growth of 1.11% over past five years.
Company has a low return on equity of 1.04% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Ceramics

Part of BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	341.44	320.24	350.79	241.75	322.71	257.99	339.61	259.64	272.42	268.42	294.58	277.77	260.95
YoY Sales growth	-2.91%	-5.76%	-11.99%	-17.40%	-5.49%	-19.44%	-3.19%	+7.40%	-15.58%	+4.04%	-13.26%	+6.98%	-4.21%
	329.03	315.01	342.62	239.00	318.17	259.60	334.44	251.72	261.93	260.51	293.84	268.73	253.71
Operating Profit	12.41	5.23	8.17	2.75	4.54	-1.61	5.17	7.92	10.49	7.91	0.74	9.04	7.24
OPM %	3.63%	1.63%	2.33%	1.14%	1.41%	-0.62%	1.52%	3.05%	3.85%	2.95%	0.25%	3.25%	2.77%
	8.21	9.74	11.70	5.32	5.56	6.12	5.78	5.96	5.52	5.24	-14.16	0.61	0.41
Interest	2.59	1.93	2.80	1.58	2.19	2.21	2.79	2.81	3.12	3.18	4.09	3.41	3.28
Depreciation	4.87	4.82	5.45	3.95	4.79	3.87	3.62	3.72	2.10	3.17	3.37	2.88	2.83
Profit before tax	13.16	8.22	11.62	2.54	3.12	-1.57	4.54	7.35	10.79	6.80	-20.88	3.36	1.54
Tax %	35.79%	21.65%	21.94%	20.47%	29.49%	-171.34%	-121.37%	28.57%	27.80%	34.56%	-31.70%	33.33%	21.43%
	8.45	6.44	9.06	2.01	2.20	1.13	10.05	5.25	7.79	4.45	-14.26	2.24	1.21
EPS in Rs	0.67	0.51	0.71	0.16	0.17	0.08	0.68	0.36	0.34	0.19	-0.48	0.08	0.04
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	823	873	946	1,005	1,005	1,013	1,036	1,349	1,354	1,305	1,122	1,095	1,102
Sales growth	+8%	+6%	+8%	+6%	+0%	+1%	+2%	+30%	+0%	-4%	-14%	-2%	-2%
	763	803	865	920	961	945	938	1,267	1,396	1,277	1,121	1,077	1,077
Operating Profit	60	70	81	84	44	68	98	82	-43	28	1	18	25
OPM %	7%	8%	9%	8%	4.4%	7%	9%	6%	-3.1%	2.1%	0.1%	1.6%	2.3%
	1	1	6	5	3	7	3	50	35	44	27	12	-8
Interest	22	24	24	21	18	20	17	7	9	11	8	13	14
Depreciation	19	21	16	17	17	18	18	18	19	20	15	12	12
Profit before tax	20	26	47	51	12	37	66	108	-36	41	4	4	-9
Tax %	28%	27%	32%	35%	39%	20%	25%	18%	-26%	27%	-182%	20%
	14	19	32	33	7	30	49	88	-26	30	12	3	-6
EPS in Rs	4.05	5.30	6.66	6.93	1.54	6.21	9.15	11.58	-2.08	2.33	0.81	0.11	-0.17
Dividend Payout %	0%	0%	12%	12%	25%	7%	3%	5%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	2%
5 Years:	1%
3 Years:	-7%
TTM:	-2%

Compounded Profit Growth
10 Years:	-22%
5 Years:	-50%
3 Years:	27%
TTM:	-126%

Stock Price CAGR
10 Years:	-10%
5 Years:	-16%
3 Years:	-18%
1 Year:	-35%

Return on Equity
10 Years:	3%
5 Years:	1%
3 Years:	1%
Last Year:	0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	23	23	30	30	30	30	34	57	127	127	296	296	296
Reserves	272	309	318	348	350	398	495	780	1,094	1,148	1,208	1,211	1,215
	175	176	154	158	162	176	112	14	79	67	141	167	116
	180	197	276	321	359	298	304	262	307	301	338	323	349
Total Liabilities	650	704	778	857	902	903	945	1,113	1,607	1,643	1,983	1,998	1,977
	188	224	232	228	231	246	236	240	248	239	175	192	182
CWIP	15	1	1	1	0	1	0	1	0	0	31	0	0
Investments	18	35	34	48	54	37	47	107	76	344	479	483	485
	429	444	512	579	616	619	663	765	1,283	1,060	1,298	1,323	1,309
Total Assets	650	704	778	857	902	903	945	1,113	1,607	1,643	1,983	1,998	1,977

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	106	63	71	42	50	-23	56	-26	-54	-28	-19	-2
	-34	-60	-23	-17	-21	-0	-10	-43	-450	38	-131	-9
	-76	-4	-47	-21	-19	-0	-28	111	462	-3	128	8
Net Cash Flow	-4	-1	-0	4	10	-23	18	43	-43	7	-21	-4
Free Cash Flow	68	20	45	28	30	-43	48	-44	-76	-34	-110	-10
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	181%	96%	98%	67%	124%	-18%	70%	-15%	107%	-84%	-1,860%	-9%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	70	74	97	116	120	121	123	110	108	105	133	126
Inventory Days	133	123	122	118	121	109	114	81	56	48	24	24
Days Payable	93	97	140	150	166	130	122	70	89	86	105	104
Cash Conversion Cycle	110	100	79	84	76	99	116	120	75	68	52	47
Working Capital Days	23	29	27	42	29	56	85	117	104	128	130	226
ROCE %	9%	10%	14%	14%	6%	10%	13%	10%	-2%	4%	1%	1%

Insights

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Exclusive Showrooms (AGL Franchise)
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Export Revenue Share
% of Total Revenue

Installed Capacity
Mn Sq.Mtr p.a.

Capacity Utilization - Ceramic Tiles
%

Ceramic Tiles Production Volume
Mn Sq.Mtr

Marble & Quartz Production Volume
Mn Sq.Mtr

Retail Sales Share
% of Total Revenue

Sanitaryware Production Volume
Mn pieces

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

19 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	29.02%	29.02%	29.02%	29.02%	33.52%	33.52%	33.52%	33.46%	33.72%	38.79%	38.79%	36.90%
	0.97%	1.36%	2.71%	2.23%	1.59%	1.93%	1.43%	1.10%	1.73%	1.05%	1.37%	1.59%
	0.00%	0.00%	0.39%	0.26%	0.22%	0.22%	0.22%	0.14%	0.17%	0.13%	0.14%	0.14%
	70.01%	69.62%	67.88%	68.49%	64.66%	64.33%	64.83%	65.30%	64.39%	60.03%	59.69%	61.37%
No. of Shareholders	86,559	88,171	82,396	88,868	90,727	88,993	87,652	84,950	80,427	77,037	77,330	81,743

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	33.10%	32.53%	33.12%	33.72%	37.98%	29.00%	29.02%	29.02%	33.52%	38.79%	36.90%
	3.02%	6.39%	0.11%	0.03%	1.04%	0.56%	1.57%	1.36%	1.93%	1.05%	1.59%
	2.00%	7.44%	9.12%	11.09%	2.14%	0.00%	0.00%	0.00%	0.22%	0.13%	0.14%
	61.88%	53.64%	57.66%	55.16%	58.84%	70.45%	69.42%	69.62%	64.33%	60.03%	61.37%
No. of Shareholders	8,334	26,223	23,840	18,460	29,137	75,704	89,936	88,171	88,993	77,037	81,743

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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