Asian Granito India Ltd reports PAT of Rs. 5.5 crore in Q4 of 2018-19

For FY 18-19 company earned Net Profit of Rs. 20.6 crore; Revenue at Rs.1186.7 crore


Gopal Modi | Updated: 29-05-2019 11:00 IST | Created: 29-05-2019 11:00 IST
Asian Granito India Ltd reports PAT of Rs. 5.5 crore in Q4 of 2018-19
No
  • Country:
  • India

Asian Granito India Ltd reported Net Sales of Rs. 369.2 crore in Q4FY19 as compared to Rs. 391.6 crore in the previous corresponding period, registering a decline of 5.7 per cent. The net profit for Q4FY19 has been recorded at Rs. 5.5 crores as against Rs. 17 crore in Q4 FY18, thereby registering a decline of 67 per cent. 

The company has reported net sales of Rs 1186.7 crore in FY19 as compared to Rs. 1155.6 crore in the previous corresponding period, registering a growth of 2.7 per cent. Commenting on the results and performance, Mr Kamlesh Patel, Chairman and Managing Director said, "Overall performance during the quarter remains subdued on account of lower volume across the segment, however for a full year we have registered marginal growth of 3 per cent YoY. Overcapacity and higher supply in the industry, rising input costs, pricing pressure from unorganised players were few of the concerns which resulted in lower single-digit volume growth in FY2019. Hence margins also remained under pressure on resulting a sharp decline in profitability for the year. "We feel that worst is likely to be over for the industry in terms of pricing pressure we expect to see a good growth ahead in terms of volume and value. Demand has started picking up which will further get a boost from the recently elected stable government at the centre. We expect double-digit growth in FY 2020. Company will further focus on improving margins by focusing on efficiency in operation, focusing on high-value products, controlling cost etc. Going forward the company will be investing only in expanding capacity in the premium products i.e. Quartz & Marbles and entry in Sanitary ware & CP fitting," he added. 

Asian Granito India Ltd. (AGIL) is one of the leading ceramic companies in India having around 1400 design across segments. The company offers wide rand of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble, composite marble & Quartz, etc.

Give Feedback