Asian Granito India LimitedQ1 FY27 Results & Financial Update
Asian Granito India Limited: Q1 FY27 consolidated results and company financials – revenue ₹530.95 Cr, PAT ₹8.07 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Asian Granito India Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
For the quarter ended June 30, 2026, Asian Granito India Limited reported consolidated revenue from operations of INR 530.95 crore alongside total consolidated income of INR 532.40 crore. The consolidated profit before tax reached INR 9.81 crore, while total net profit after tax stood at INR 8.07 crore.
The consolidated net profit attributable to owners of the parent company stood at INR 8.13 crore, while non-controlling interests accounted for a minor loss of INR 0.21 crore. Basic and diluted earnings per share for the quarter were recorded at INR 0.27 each.
Operating performance during the period was shaped by broader macroeconomic and regional supply pressures, notably the aftermath of previous anti-duty hurdles in export markets and temporary energy disruptions. Management noted that gas price increases during the quarter weighed directly on manufacturing profitability.
On the operational front, the company's quartz manufacturing plant—which faced temporary closure for two months in prior periods due to international trade headwinds—resumed operations at the start of fiscal 2027. Similarly, ceramic manufacturing plants in Morbi that faced short-term gas supply shortages and subsequent temporary shutdowns have also restarted production.
The company continues to deploy funds raised via its previous Right Issue. Out of total net proceeds of INR 422.17 crore, capital expenditure allocations for setting up new manufacturing units under wholly owned subsidiaries and display center cum office facilities have seen substantial utilization as of June 30, 2026.
Statutory auditors issued an unmodified conclusion on the consolidated financial results, while drawing attention to ongoing appellate proceedings regarding past search operations by the Income Tax department, noting that final tax outcomes remain uncertain without identifiable material impact on the reported period.
Profit after tax was ₹8.07 Cr for the reported quarter. EPS was ₹0.27 for the reported quarter.
01 · Business model
What does Asian Granito India do?
Asian Granito India Limited manufactures and markets ceramic tiles, marble, quartz, and allied bathware products. Its operations encompass a wide spectrum of surface solutions distributed through an extensive network across India and international markets.
The company conducts its business through a comprehensive corporate structure comprising numerous wholly owned subsidiaries, trading arms, and specialized manufacturing units that handle specific segments of its tiles and quartz portfolios.
Revenue generation is driven primarily by core tile production, purchases of stock-in-trade for trading building materials, and value-added surfaces such as quartz and marble. Distribution reaches residential, commercial, and institutional building sectors.
02 · Historical context
What shaped the business before this quarter
The Income Tax department carried out a search operation on the company's business premises on May 26, 2022, resulting in ongoing appellate proceedings where final outcomes remain pending.
The company previously raised capital via a Right Issue, garnering net proceeds of INR 422.17 crore to fund manufacturing units, working capital requirements, display centers, and general corporate purposes.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹530.95 Cr |
| Total income | ₹532.40 Cr |
| Profit before tax | ₹9.81 Cr |
| Profit after tax | ₹8.07 Cr |
| EPS | ₹0.27 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations of INR 530.95 crore was supported by domestic and international demand across ceramic tiles, polished vitrified tiles, and traded building construction materials.
Topline delivery benefited from the post-closure resumption of the quartz manufacturing plant and normalization of operations across regional ceramic manufacturing facilities in Morbi following earlier fuel supply bottlenecks.
What drove margins
Management disclosed that an increase in natural gas prices during the quarter exerted direct upward pressure on production costs and adversely impacted operating profitability.
Consolidated expenses for Q1 FY27 included cost of materials consumed of INR 91.25 crore, purchases of stock-in-trade of INR 249.33 crore, employee benefit expenses of INR 40.38 crore, and power and fuel expenses of INR 71.31 crore.
Finance costs stood at INR 8.54 crore, while depreciation and amortization expenses accounted for INR 15.97 crore for the quarter.
05 · Demand, customers & order book
Where demand is coming from
Order flows recovered as overseas markets absorbed the resumption of quartz supply following earlier US anti-dumping duty hurdles, and domestic retail and institutional channels stabilized.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's business falls within a single operating segment, namely Ceramic Tiles and Allied Products, under Ind AS 108.
Geography and market mix
Operations include domestic distribution across India alongside international trade activities managed via overseas subsidiaries and trading entities in regions such as Thailand, US, and Europe.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The quartz manufacturing plant, which suffered a two-month temporary closure, successfully resumed operations at the beginning of FY27. Regional ceramic plants in Morbi also resumed normal production after temporary gas-shortage shutdowns.
Projects, capex and execution
Out of INR 250.80 crore originally proposed (and revised to INR 218.63 crore) for setting up new manufacturing units in wholly owned subsidiaries, INR 218.63 crore had been utilized as of June 30, 2026.
Display centre cum office capex utilized the fully allocated revised amount of INR 73.80 crore, while working capital requirements absorbed INR 30.00 crore of Right Issue proceeds.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The group continues to streamline its subsidiary network—including entities like AGL Industries, Crystal Ceramic Industries, and various international trading arms—to optimize surface manufacturing and distribution.
09 · Reported developments
What changed operationally
The company achieved a positive consolidated net profit after tax of INR 8.07 crore for Q1 FY27, recovering from volatility observed in preceding quarters.
Successful resumption of both the quartz plant and Morbi ceramic manufacturing lines restored operational continuity after prior quarter headwinds.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Following internal capital restructuring policies for wholly owned subsidiaries, interest accruals on certain financial advances were ceased, reflecting the economic substance of support provided to WOS entities.
Capital allocation & funding
The capital structure remains supported by equity raised via Right Issues, with unutilized general corporate purpose funds and specific project allocations tracked under statutory disclosures.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Auditor Review and Tax Contingencies
Statutory auditors noted that appeals regarding the 2022 Income Tax search remain pending and their ultimate financial impact cannot currently be ascertained.
Reported update
Labour Codes Implementation
The group has implemented the Code on Social Security, Occupational Safety, Health and Working Conditions Code, Industrial Relations Code, and Code on Wages where applicable following central government notifications.
12 · Previous-quarter changes
What changed since the previous quarter
The company transitioned from a net loss position in Q4 FY26—which was heavily impacted by anti-dumping duties, temporary plant closures, and gas supply constraints—back to net profitability in Q1 FY27.
13 · Key Q&A
The quarter, answered directly
What does Asian Granito India do?
Asian Granito India Limited manufactures and markets ceramic tiles, marble, quartz, and allied bathware products. Its operations encompass a wide spectrum of surface solutions distributed through an extensive network across India and international markets.
What is the clearest takeaway from Q1 FY27?
For the quarter ended June 30, 2026, Asian Granito India Limited reported consolidated revenue from operations of INR 530.95 crore alongside total consolidated income of INR 532.40 crore. The consolidated profit before tax reached INR 9.81 crore, while total net profit after tax stood at INR 8.07 crore.
What drove revenue or demand?
Revenue from operations of INR 530.95 crore was supported by domestic and international demand across ceramic tiles, polished vitrified tiles, and traded building construction materials.
What mattered most for margins or profitability?
Management disclosed that an increase in natural gas prices during the quarter exerted direct upward pressure on production costs and adversely impacted operating profitability.
What changed operationally beyond the headline numbers?
The quartz manufacturing plant, which suffered a two-month temporary closure, successfully resumed operations at the beginning of FY27. Regional ceramic plants in Morbi also resumed normal production after temporary gas-shortage shutdowns.
What should the next disclosure help confirm?
Monitor future natural gas price movements and their pass-through impact on tile manufacturing margins.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Energy Cost Trends: Monitor future natural gas price movements and their pass-through impact on tile manufacturing margins.
- 02
Tax Proceedings: Track developments regarding appeals filed against Income Tax department notices stemming from the 2022 search.
- 03
Subsidiary Capex Execution: Observe the operational scaling of new manufacturing units established through wholly owned subsidiaries utilizing Right Issue proceeds.
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