Asian Granito eyes Rs 2,000 cr revenue by 2020, bets on marble, quartz biz

Firm is currently the fourth largest ceramic company in India, wants to be in top-3 within 2-3 years

Aiming to be the third largest ceramic products maker in India, Asian Granito India Limited (AGL) is betting on the marble and quartz segments to achieve a turnover of Rs 2,000 crore by the end of the year 2020.

The company has posted turnover of about Rs 1,085 crore in the year 2016-17 and currently ranks fourth in the ceramics space in India.

"We are currently the fourth largest ceramic company in India and want to be in the top three within two or three years. Focusing on marble and quartz stone business will help us achieve our goal of Rs 2,000 crore revenue by end of 2020," said Kamlesh Patel, chairman and managing director of AGL.

The marble and quartz stone segments are two of the key focus areas for the company, going forward. AGL recently completed expansion of the third line for quartz stone at its Himmatnagar plant and started commercial production this month.

With this, the company doubled its quartz stone capacity to 1,600 square meters a day. According to AGL, the market for quartz stone in India is estimated at Rs 200-250 crore and is growing at 25-30 per cent a year.

AGL is also planning to increase its retail presence across India, from 120 outlets at present to 300 during the next three years. It will also expand its dealership network.

"Quartz is a premium product and hence we expect to earn a healthy ebitda margin in the range of 30-32 per cent. About 35 per cent of our revenue comes from retail and we want to increase it to 50 per cent in next three years. For that we will increase our retail outlet numbers to 300. Also we will expand our dealership network to 1,500 dealers by 2020," said Mukesh Patel, managing director, AGL.

The company is also aiming to double its exports from Rs 60 crore at present to over 120 crore within the next two years. It has a presence in 53 countries including Europea, North America, Africa, Gulf, Canada and Australia.