Asian Granito India Ltd

About

The Asian Granito India Ltd (The Company or AGL), established in the year 2000, has emerged as one of the leading ceramic companies in India. Over a short span of two decades, it has built a distinctive reputation for itself in India as well in the global markets as a manufacturer of a wide variety of finest quality Ceramic Tiles, Engineered Marble and Quartz. [1]

Key Points

Diversified Presence
The company’s product portfolio is well diversified, comprising the entire basket of tile, quartz offerings and covering a wide range of wall/flooring solutions and sanitary ware products.[1]

See full details
  • Market Cap 869 Cr.
  • Current Price 153
  • High / Low 265 / 116
  • Stock P/E 12.0
  • Book Value 110
  • Dividend Yield 0.33 %
  • ROCE 12.6 %
  • ROE 10.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • Promoter holding has decreased over last quarter: -11.86%
  • The company has delivered a poor sales growth of 5.39% over past five years.
  • Promoter holding is low: 26.12%
  • Company has a low return on equity of 8.17% for last 3 years.
  • Contingent liabilities of Rs.297.09 Cr.
  • Dividend payout has been low at 5.54% of profits over last 3 years
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
282.52 296.22 369.21 312.04 356.90 297.86 257.74 129.40 344.30 384.46 434.14 272.98
264.49 272.25 345.12 277.73 327.74 264.32 237.05 125.64 302.93 334.98 392.81 248.03
Operating Profit 18.03 23.97 24.09 34.31 29.16 33.54 20.69 3.76 41.37 49.48 41.33 24.95
OPM % 6.38% 8.09% 6.52% 11.00% 8.17% 11.26% 8.03% 2.91% 12.02% 12.87% 9.52% 9.14%
Other Income 0.64 1.01 2.15 0.79 1.12 0.79 2.47 0.23 0.42 0.56 0.13 0.25
Interest 8.17 8.74 10.63 8.70 8.65 10.34 9.75 8.31 8.40 8.00 8.04 6.23
Depreciation 6.78 7.46 6.68 7.70 7.50 9.30 6.28 7.54 7.27 7.22 7.31 7.22
Profit before tax 3.72 8.78 8.93 18.70 14.13 14.69 7.13 -11.86 26.12 34.82 26.11 11.75
Tax % 22.58% 43.39% 37.63% 34.92% 1.27% 24.85% 11.08% 25.89% 21.98% 28.06% 27.15% 31.49%
Net Profit 4.44 4.63 5.78 11.27 12.73 11.13 7.04 -7.45 19.89 24.97 19.59 8.22
EPS in Rs 0.89 0.93 1.16 2.26 2.56 2.23 1.41 -1.50 3.90 4.88 3.47 1.45

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
169 215 708 775 846 994 1,061 1,156 1,187 1,225 1,292 1,436
129 162 639 712 786 903 934 1,017 1,099 1,107 1,156 1,279
Operating Profit 40 54 70 63 60 91 127 139 88 118 136 157
OPM % 24% 25% 10% 8% 7% 9% 12% 12% 7% 10% 11% 11%
Other Income 0 1 2 1 1 1 5 8 9 10 1 1
Interest 6 7 25 21 23 29 41 39 37 40 33 31
Depreciation 5 7 22 22 19 28 24 25 27 31 29 29
Profit before tax 29 41 25 22 19 35 67 83 33 57 75 99
Tax % 21% 28% 33% 39% 30% 32% 28% 31% 30% 19% 26%
Net Profit 23 30 17 12 15 24 45 53 21 42 57 73
EPS in Rs 8.48 4.66 3.23 3.96 6.49 9.05 10.58 4.19 8.47 10.11 13.70
Dividend Payout % 0% 7% 13% 0% 0% 0% 9% 7% 9% 5% 3%
Compounded Sales Growth
10 Years:%
5 Years:5%
3 Years:4%
TTM:38%
Compounded Profit Growth
10 Years:%
5 Years:18%
3 Years:3%
TTM:210%
Stock Price CAGR
10 Years:16%
5 Years:-9%
3 Years:0%
1 Year:-38%
Return on Equity
10 Years:%
5 Years:10%
3 Years:8%
Last Year:10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
14 21 22 23 23 23 30 30 30 30 34
Reserves 58 146 240 253 267 333 369 405 421 466 592
Borrowings 63 65 252 228 175 335 327 340 361 332 264
40 60 134 182 186 259 334 416 469 431 477
Total Liabilities 175 292 648 685 651 950 1,060 1,191 1,281 1,259 1,367
58 103 174 178 188 392 413 426 472 463 457
CWIP 3 11 3 7 15 6 1 11 0 9 24
Investments 0 14 18 13 11 13 17 23 28 30 46
114 164 454 488 438 539 629 731 782 757 839
Total Assets 175 292 648 685 651 950 1,060 1,191 1,281 1,259 1,367

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
10 21 19 62 104 21 63 94 88 56 74
-11 -12 -49 -28 -33 -221 -40 -48 -62 -41 -26
3 -4 34 -43 -76 203 -22 -42 -16 -40 -18
Net Cash Flow 2 4 4 -10 -4 3 1 5 9 -24 30

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 81 76 88 90 71 72 103 127 123 112 119
Inventory Days 502 604 193 157 130 145 179 164 174 149 138
Days Payable 186 201 93 107 93 92 150 177 192 159 131
Cash Conversion Cycle 397 478 188 140 108 125 132 114 105 102 126
Working Capital Days 162 166 139 123 94 109 112 106 101 110 82
ROCE % 26% 8% 9% 11% 15% 16% 9% 12% 13%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
32.42 32.42 33.12 34.11 34.10 34.08 33.72 34.08 33.25 34.02 37.98 26.12
3.42 2.01 0.11 0.03 0.03 0.03 0.03 0.00 0.00 0.00 1.04 0.00
7.39 8.62 9.12 9.87 10.68 8.80 11.09 5.09 3.97 3.55 2.14 0.87
56.77 56.94 57.66 55.99 55.20 57.09 55.16 60.83 62.78 62.43 58.84 73.01

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