Asian Granito Promoters Buy 6 Lakh Shares in Open Market

From L to R, Mr. Mukesh Patel, MD and Mr Kamlesh Patel, CMD, Asian Granito India Ltd

Ahmedabad (Gujarat) [India], December 25: The promoter group of Asian Granito India Limited (AGL), one of India’s leading Luxury Surfaces and Bathware Solutions brands, has acquired a total of 6 lakh equity shares from the open market, reinforcing promoter confidence in the company’s ongoing business turnaround and growth trajectory.

On December 22, Kamlesh Patel, Chairman and Managing Director of the company, purchased 3,00,000 equity shares of AGL through open market transactions. Following this acquisition, Mr Patel’s shareholding, along with Persons Acting in Concert (PAC), increased to 7.14%.

Subsequently, on December 23, Mukesh Patel, Managing Director of the company, acquired an additional 3,00,000 equity shares from the open market. Post this purchase, Mr Mukesh Patel’s holding, along with PAC, rose to 10.79%. With these transactions, the total promoter group shareholding in Asian Granito India Limited now stands at 33.72%.

Strong Financial Turnaround in FY26

The promoter buying comes at a time when Asian Granito has reported a significant improvement in its operational and financial performance. For the first half of FY 2025–26, ending September 30, 2025, the company delivered a notable turnaround.

AGL reported a consolidated net profit of ₹23.2 crore in H1FY26, compared to a net loss of ₹1 crore during the same period last year. Net sales for the period increased 8% year-on-year to ₹795.2 crore, up from ₹736.2 crore in H1FY25. EBITDA for H1FY26 stood at ₹61.5 crore, reflecting a strong 102% year-on-year growth, with EBITDA margins improving to 7.7% from 4.1% in the corresponding period last year.

Market Leadership and Expanding Footprint

Established in 2000, Asian Granito India Limited has emerged as one of India’s most prominent players in luxury tiles, engineered marble and quartz, bathware, and faucets. Over the past two and a half decades, the company has scaled its manufacturing capacity over 65 times, from 0.83 million square meters per annum in FY2000 to 54.5 million square meters per annum by FY2025.

AGL currently operates 14 state-of-the-art manufacturing facilities across Gujarat and has built a robust pan-India presence with more than 277 exclusive franchisee showrooms and 13 company-owned display centres. Its extensive distribution network spans over 18,000 touchpoints, including distributors, dealers, and sub-dealers, while exports reach more than 100 countries globally.

Brand Building and Celebrity Endorsements

To further strengthen its brand equity, AGL has invested strategically in high-visibility marketing campaigns. The company appointed Bollywood actor Ranbir Kapoor as the brand ambassador for its flagship “Premium ka Pappa” campaign. Additionally, AGL’s Bonzer7 brand onboarded actress Vaani Kapoor for the “Kya Baat Hain” campaign, targeting younger and aspirational consumers.

These initiatives highlight the company’s focus on innovation, premium positioning, and deeper consumer connect across segments.

Outlook

With improving financial performance, strong promoter confidence, expanding capacity, and aggressive brand-building initiatives, Asian Granito India Limited continues to strengthen its position as one of India’s leading providers of ceramic and bathware solutions. Headquartered in Ahmedabad, AGL is listed on the NSE and BSE and reported a consolidated turnover of ₹1,628 crore in FY2025.

Disclaimer: This press release is for informational purposes only and does not constitute financial advice.