A major expansion has been completed by Asian Granito India Limited (AGIL) at its subsidiary, Crystal Ceramic Industries Private Limited (Crystal Ceramics). Crystal Ceramics added brown field expansion of 12,000 Square meters per day in a new production line of Glazed Vitrified Tiles at its Mehsana Plant in Gujarat. This expansion will increase the total capacity of Crystal Ceramics to 36,000 Square meters per day.
Crystal Ceramics Industries Limited has invested Rs. 25-Crore for this expansion. Asian Granito holds a 70% equity stake in Crystal Ceramics. The capacity addition will add an incremental sales of around Rs. 70-75-Crore per annum in Crystal Ceramics and Asian Granito India Limited consolidated turnover. Crystal Ceramics reported Turnover of Rs. 184.45-Crore in FY 21.
For FY21, Company reported a net profit of Rs. 57.23-Crore on consolidated basis – growth of 36% Y-o-Y. Net Sales for FY21 was reported at Rs. 1,292-Crore with 6% growth Y-o-Y. Noteworthy, AGIL has the widest range of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble, composite marble & Quartz, etc. The Company added CP Fittings and Faucets to its sanitary division to provide a complete bathing solution to its customers.
