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 529
Book Value ₹ 51.8
Dividend Yield 0.00 %
ROCE 2.85 %
ROE 1.27 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.86 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 7.53% over past five years.
Company has a low return on equity of 0.40% 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	400.93	371.23	423.63	360.08	383.68	366.09	514.77	388.24	444.75	461.66	538.50	530.95	528.50
YoY Sales growth	+0.79%	-7.00%	-7.05%	+7.55%	-4.30%	-1.38%	+21.51%	+7.82%	+15.92%	+26.11%	+4.61%	+36.76%	+18.83%
	380.98	369.73	403.74	344.35	369.08	352.93	499.51	363.34	397.16	416.75	559.38	498.08	500.75
Operating Profit	19.95	1.50	19.89	15.73	14.60	13.16	15.26	24.90	47.59	44.91	-20.88	32.87	27.75
OPM %	4.98%	0.40%	4.70%	4.37%	3.81%	3.59%	2.96%	6.41%	10.70%	9.73%	-3.88%	6.19%	5.25%
	1.20	1.28	4.43	0.89	1.03	0.76	8.58	4.80	4.01	3.48	3.95	1.45	2.51
Interest	7.13	5.18	11.22	7.02	6.22	7.06	11.41	7.18	8.74	8.50	9.25	8.54	7.95
Depreciation	12.26	12.10	12.93	14.08	12.69	14.33	16.73	13.63	15.88	15.51	16.35	15.97	16.11
Profit before tax	1.76	-14.50	0.17	-4.48	-3.28	-7.47	-4.30	8.89	26.98	24.38	-42.53	9.81	6.20
Tax %	259.09%	-44.21%	3,282.35%	-63.39%	-243.90%	-45.52%	13.49%	18.56%	21.50%	22.23%	-23.21%	17.74%	15.97%
	-2.80	-8.10	-5.47	-1.67	4.69	-4.09	-4.87	7.24	21.18	18.96	-32.67	8.07	5.21
EPS in Rs	-0.10	-0.49	-0.19	-0.15	0.51	-0.31	-0.26	0.51	0.90	0.88	-1.08	0.27	0.19
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	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
	846	994	1,061	1,156	1,187	1,225	1,292	1,564	1,563	1,530	1,711	1,858	2,060
Sales growth	+9%	+17%	+7%	+9%	+3%	+3%	+6%	+21%	-0%	-2%	+12%	+9%	+20%
	786	903	934	1,017	1,099	1,107	1,156	1,444	1,635	1,480	1,623	1,764	1,975
Operating Profit	60	91	127	139	88	118	136	120	-73	50	88	94	85
OPM %	7%	9%	12%	12%	7%	10%	11%	8%	-4.6%	3.3%	5%	5%	4.1%
	1	1	5	8	9	10	5	50	21	13	16	26	11
Interest	23	29	41	39	37	40	35	26	27	31	37	35	34
Depreciation	19	28	24	25	27	31	29	30	34	47	66	64	64
Profit before tax	19	35	67	83	33	57	77	114	-112	-15	0	22	-2
Tax %	30%	32%	28%	31%	30%	19%	25%	19%	-23%	33%	-2,255%	14%
	15	26	49	57	23	46	58	92	-87	-20	10	19	-0
EPS in Rs	4.15	6.80	9.47	11.07	4.38	8.86	10.59	12.11	-5.74	-0.97	0.71	0.70	0.26
Dividend Payout %	0%	0%	9%	7%	9%	5%	3%	4%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	6%
5 Years:	8%
3 Years:	6%
TTM:	20%

Compounded Profit Growth
10 Years:	-2%
5 Years:	-20%
3 Years:	31%
TTM:	-87%

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

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

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	267	341	369	405	421	487	592	861	1,129	1,141	1,206	1,226	1,240
	175	335	327	340	361	332	295	199	227	248	373	439	424
	186	251	334	416	469	410	447	412	439	391	540	510	523
Total Liabilities	651	950	1,060	1,191	1,281	1,259	1,367	1,529	1,922	1,907	2,415	2,472	2,484
	188	392	413	426	472	463	457	476	577	783	994	1,009	1,003
CWIP	15	6	1	11	0	9	24	52	177	0	47	49	60
Investments	11	13	17	23	28	30	46	66	13	23	3	5	7
	438	539	629	731	782	757	839	935	1,155	1,101	1,370	1,408	1,413
Total Assets	651	950	1,060	1,191	1,281	1,259	1,367	1,529	1,922	1,907	2,415	2,472	2,484

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	104	21	63	94	88	56	46	-7	-49	-82	60	94
	-33	-221	-40	-48	-62	-41	-26	-23	-423	71	-115	-102
	-76	203	-22	-42	-16	-40	10	98	408	8	46	28
Net Cash Flow	-4	3	1	5	9	-24	30	67	-64	-4	-9	21
Free Cash Flow	67	-202	24	46	25	2	7	-80	-304	-157	-66	-9
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	182%	29%	57%	80%	112%	60%	44%	6%	53%	-156%	75%	107%

Ratios

Consolidated / View Standalone

	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	71	72	103	127	123	112	119	109	97	97	117	109
Inventory Days	130	145	179	164	174	149	142	123	88	103	134	116
Days Payable	93	92	150	177	192	159	134	105	106	106	160	131
Cash Conversion Cycle	108	125	132	114	105	102	126	127	80	93	91	94
Working Capital Days	25	29	35	36	20	39	76	100	83	128	95	92
ROCE %	9%	11%	14%	16%	9%	11%	12%	10%	-6%	1%	2%	3%

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.

Click on the line-items to see the names of individual entities.

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