ASIANTILES
Asian Granito India share price & financials
- Price
- ₹46.36
- Market cap
- ₹1.5k Cr
- Sector
- Consumer Durables
- Calls analysed
- 1
Asian Granito Q3 FY26
What went well
- Q3 FY26 Revenue grew 15.8% YoY to Rs. 423 crores.
- Q3 FY26 EBITDA surged 210% YoY to Rs. 40.8 crores.
- 9M FY26 PAT turned positive at Rs. 43.83 crores, compared to a loss of Rs. 4.97 crores in 9M FY25.
What to watch
- Average selling price (ASP) for tiles decreased from Rs. 399/sqm last year to Rs. 360/sqm currently.
- Utilization of the new quartz big format line is low at 10%.
What Asian Granito India Limited does
Asian Granito India Limited (AGL) manufactures and markets ceramic and vitrified tiles, marble and quartz surfaces, and sanitaryware/bathware, sold under the AGL and Bonzer7 brands. It earns through a mix of own manufacturing, subsidiary and associate plants, and outsourcing/trading arrangements, serving retail, institutional and government customers across domestic and overseas markets. Distribution runs through a multi-model network of dealers, exclusive franchise showrooms, company-owned display centres and overseas subsidiaries.
Segments
- Ceramic Tiles
- Marble & Quartz
- Sanitaryware & Bathware
- Manufacturing facilities/units
- 14 units under 11 facilities (own, subsidiary and associate plants)
- Installed tile capacity
- 54.5 million sqm per annum (37.4 mn sqm operational as of Dec 2025)
- Manufacturing footprint
- Plants concentrated in Gujarat — Dalpur, Dholka, Idar, Mehsana and Morbi
- Sanitaryware capacity
- 0.66 million pieces installed capacity
- Distribution touch points
- 18,000+ touch points via 2,700+ dealers/sub-dealers and 277+ exclusive franchise partners
- Own display centres
- 13 company-owned display centres across India
Guidance record · Q3 FY26
what the last two calls moved 8 tracked 0 delivered 0 missed 8 open- Total Revenue open said Q3 FY26 Promised: Rs. 6,000 crores by 2031 Q3 FY26: Target set based on existing plants, sanitary fittings, and internal planning.
All 8 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 7.0%, net profit down 57.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 323 | 258 | 340 | 260 | 272 −16% | 268 +4% | 295 −13% | 278 +7% |
| EBITDA | 5 | -2 | 5 | 8 | 10 +131% | 8 +591% | 1 −86% | 9 +14% |
| Net profit | 2 | 1 | 10 | 5 | 8 +254% | 4 +294% | -14 −242% | 2 −57% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −16.1% 1Y
1Y: ₹60.03 on 10 Sept 2025 → ₹50.34. High ₹77.88 (24 Dec 2025), low ₹43.42 (22 Jul 2026).
How the price took the results
close before → close after
- Q3 FY26
- −0.0%
- 12 Feb
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 10.1% a year over 3 years, FY23 to FY26. Operating margin widened to 2.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.5k Cr | ₹1.3k Cr | ₹1.2k Cr | ₹1.1k Cr |
| Operating profit | ₹-69 Cr | ₹30 Cr | ₹11 Cr | ₹27 Cr |
| Operating margin | -4.6% | 2.3% | 0.9% | 2.5% |
| Interest | ₹19 Cr | ₹11 Cr | ₹9 Cr | ₹13 Cr |
| Depreciation | ₹31 Cr | ₹20 Cr | ₹16 Cr | ₹12 Cr |
| Net profit | ₹-71 Cr | ₹30 Cr | ₹15 Cr | ₹3 Cr |
| Net margin | -4.7% | 2.3% | 1.3% | 0.3% |
| Cash from operations | ₹-54 Cr | ₹-28 Cr | ₹-19 Cr | ₹-2 Cr |
| Free cash flow | ₹-76 Cr | ₹-34 Cr | ₹-110 Cr | ₹-10 Cr |
| ROCE | -2.0% | 4.0% | 1.0% | 1.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹34 Cr | ₹57 Cr | ₹127 Cr | ₹127 Cr | ₹232 Cr | ₹296 Cr |
| Reserves | ₹495 Cr | ₹780 Cr | ₹1.1k Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Borrowings | ₹112 Cr | ₹14 Cr | ₹79 Cr | ₹67 Cr | ₹295 Cr | ₹167 Cr |
| Other liabilities | ₹304 Cr | ₹262 Cr | ₹307 Cr | ₹301 Cr | ₹551 Cr | ₹323 Cr |
| Total liabilities | ₹945 Cr | ₹1.1k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹2.3k Cr | ₹2.0k Cr |
| Fixed assets | ₹236 Cr | ₹240 Cr | ₹248 Cr | ₹239 Cr | ₹896 Cr | ₹192 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹11 Cr | ₹0 Cr |
| Investments | ₹47 Cr | ₹107 Cr | ₹76 Cr | ₹344 Cr | ₹4 Cr | ₹483 Cr |
| Other assets | ₹663 Cr | ₹765 Cr | ₹1.3k Cr | ₹1.1k Cr | ₹1.4k Cr | ₹1.3k Cr |
| Total assets | ₹945 Cr | ₹1.1k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹2.3k Cr | ₹2.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +5.27 pp while the public trimmed −5.14 pp. The shareholder count shrank 12% to 77,330.
- Promoters
- 38.8%
- FIIs
- 1.4%
- DIIs
- 0.1%
- Public
- 59.7%
Since Jun 2025
- Promoters +5.27 pp
- Public −5.14 pp
- DIIs −0.08 pp
How it drifted, 12 quarters
Over this window the public fell from 69.9% to 59.7% — −10.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 29.0%, FIIs 1.1%, Public 69.9%.Dec '23: Promoters 29.0%, FIIs 1.0%, Public 70.0%.Mar '24: Promoters 29.0%, FIIs 1.4%, Public 69.6%.Jun '24: Promoters 29.0%, FIIs 2.7%, DIIs 0.4%, Public 67.9%.Sep '24: Promoters 29.0%, FIIs 2.2%, DIIs 0.3%, Public 68.5%.Dec '24: Promoters 33.5%, FIIs 1.6%, DIIs 0.2%, Public 64.7%.Mar '25: Promoters 33.5%, FIIs 1.9%, DIIs 0.2%, Public 64.3%.Jun '25: Promoters 33.5%, FIIs 1.4%, DIIs 0.2%, Public 64.8%.Sep '25: Promoters 33.5%, FIIs 1.1%, DIIs 0.1%, Public 65.3%.Dec '25: Promoters 33.7%, FIIs 1.7%, DIIs 0.2%, Public 64.4%.Mar '26: Promoters 38.8%, FIIs 1.1%, DIIs 0.1%, Public 60.0%.Jun '26: Promoters 38.8%, FIIs 1.4%, DIIs 0.1%, Public 59.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Ranjanben Pranjivanbhai Bavarava newly disclosed 1.41% held
- Arthkumbh Ventures newly disclosed 1.27% held
- Patel Bhupendrakumar Ramjibhai newly disclosed 1.05% held
- Vansjaliya Sarthak Jayantibhai +0.35 pp 1.57% held
The same filing shows 2 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Asian Granito India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| L7 Hitech Private Limited | 5.59% | −0.77 pp |
| Kamleshkumar Bhagubhai Patel | 4.22% | unchanged |
| Patel Hiren Sureshkumar | 3.25% | unchanged |
| Shaunakkumar M Patel | 2.62% | unchanged |
| Mukeshbhai Jivabhai Patel | 2.43% | unchanged |
| Vipulbhai Vinodbhai Patel | 2.31% | unchanged |
| Hiren Pranjivanbhai Patel | 2.24% | −0.85 pp |
| Bhaveshbhai Vinodbhai Patel | 2.04% | unchanged |
| Pankaj M Patel | 1.93% | unchanged |
| Dipak Narayanbhai Patel | 1.91% | unchanged |
| Sureshbhai Jivabhai Patel | 1.84% | unchanged |
| Asmitaben B Patel | 1.74% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
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