Asian Granito India Ltd's subsidiary completes capacity expansion at Mehsana Plant

Crystal Ceramics Industries Private Limited, a material subsidiary of Asian Granito India Limited, where Asian Granito is holding 70% of equity, has completed 12000 SQMTS/days of Glazed Vitrified Tiles brown field capacity expansion at its Meshana Plant. This capacity addition will increase total capacity of Crystal Ceramics to 36000 SQMTS/day. Crystal Ceramics is planning to manufacture large format 600X1200 mm GVT tiles for domestic and export market with this expansion. Crystal Ceramics Industries Limited has invested Rs. 25 Crores for this expansion.

This strategic brownfield expansion was planned keeping in mind low cost natural gas benefit at Crystal Ceramics, which helps company to further reduce its manufacturing cost.

Crystal Ceramics reported Turnover of Rs. 184.45 Crores in FY 21. The capacity addition of 12000 SQMTS/day will add incremental sales of around Rs.70-75 Crores in Crystal Ceramics and Asian Granito India Limited consolidated turnover.

AGIL has reported consolidated turnover of Rs. 1292.30 Crores in FY21. With this capacity expansion ASIAN Granito on a consolidated basis will further improve its market share in domestic and export market.

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.173.5 as compared to the previous close of Rs. 175.6. The total number of shares traded during the day was 65646 in over 1778 trades.

The stock hit an intraday high of Rs. 177.45 and intraday low of 173. The net turnover during the day was Rs. 11479009.

Source : Equity Bulls

Keywords