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Asian Granito India Ltd.

BSE: 532888 Sector: Consumer
NSE: ASIANTILES ISIN Code: INE022I01019
BSE LIVE 15:40 | 23 Jun 410.90 3.95
(0.97%)
OPEN

409.50

HIGH

414.00

LOW

403.30

NSE 15:31 | 23 Jun 411.60 4.00
(0.98%)
OPEN

405.10

HIGH

413.90

LOW

402.30

OPEN 409.50
PREVIOUS CLOSE 406.95
VOLUME 46678
52-Week high 423.00
52-Week low 175.10
P/E 44.23
Mkt Cap.(Rs cr) 1,236
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 409.50
CLOSE 406.95
VOLUME 46678
52-Week high 423.00
52-Week low 175.10
P/E 44.23
Mkt Cap.(Rs cr) 1,236
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Asian Granito India Ltd. (ASIANTILES) - Company History

The company was incorporated on August 8, 1995, as Karnavati Fincap Private Limited, for carrying on the business of a non-banking financial company. Subsequently, the company has converted into a public limited company on August 29, 1995 and company name was changed as Karnavati Fincap Limited. Thereafter, the company line of business changed from finance to trading in cloth and accordingly renamed as Panchariya Textile Industries Limited on March 18, 1999. Subsequently, on July 28, 2000, the company name was renamed as Vasudev Textile Industries Limited. In September 2002, the promoters of Asian Tiles Limited acquired entire shareholding of the Company. Thereafter, the company line of business changed from trading in cloth to Ceramic tiles and accordingly renamed as Asian Granito India Ltd. The company has setting up a new industrial undertaking for manufacturing vitrified tiles at Dalpur village, Sabarkantha district, Gujarat. The Promoters have considerable experience in the manufacture of ceramic floor tiles and under the brand `ASIAN TILES'. The company has set up first facility for manufacturing vitrified tiles with a production capacity of 4000 square meters per day (33,580 metric tonnes per annum) and started commercial production from October 2003. As the company has reached optimum capacity utilization within a period of nine to ten months, company expanded the production facility by installing a second manufacturing line and commenced commercial production from the second line in January 2005. After installation of this second line the capacity of the plant increased to 9000 square meters per day (75,500 metric tonnes per annum). The company was the first manufacturers in India to produce slab vitrified tiles of 905mm x 905mm. By October 2005, the company has again reached optimum capacity utilization and planned to install a third manufacturing line and commenced commercial production from the third line in July 2006. Thus, after this expansion, the installed capacity of the plant has become 14,000 square meters per day (117,500 metric tonnes per annum). In March 2006, the company has acquired approximately 100% equity shares of Subsidiary, Asian Tiles Limited, to make it a wholly owned subsidiary.