24-May-2024, Fri.
Asian Granito India Ltd. reported consolidated net sales of Rs. 1531 crore for the financial year 2023–24, marking a significant financial performance for the company.
The company’s financial results for the year showcased a notable improvement compared to the previous fiscal year, with a substantial increase in net sales. This growth in net sales indicates a positive trajectory for Asian Granito India Ltd. and reflects its efforts to enhance its market presence and financial standing. Throughout the fiscal year 2023–24, Asian Granito India Ltd. demonstrated resilience and strategic management in navigating the business landscape. The company’s ability to achieve such substantial net sales figures highlights its competitiveness and market positioning within the industry.
The reported net sales of Rs. 1531 crore underscore the company’s strong performance and its capacity to generate revenue effectively. Moreover, the financial success of Asian Granito India Ltd. in FY24 is further emphasized by its ability to turn around its financial performance, as evidenced by a standalone net profit of Rs. 8.85 crore for Q4 FY24, compared to a net loss of Rs. 32.56 crore in Q4 FY23. This turnaround in profitability reflects the company’s strategic initiatives, operational efficiency in managing its financial resources, and market dynamics.
Asian Granito India Ltd.’s achievement of Rs. 1531 crore in net sales for FY24 not only signifies its financial strength but also positions the company as a key player in the industry. The company’s consistent growth and financial stability underscore its potential for further expansion and success in the market. Overall, the reported net sales figure for FY24 reflects Asian Granito India Ltd.’s robust performance and its ability to thrive in a competitive business environment.
Asian Granito India Ltd. has reported a consolidated net loss of Rs. 6.21 crore for the quarter ended December 2023, compared to a net loss of Rs. 22.62 crore in the same period last year. The company’s sales declined 7.00% to Rs. 371.23 crore during the quarter, compared to Rs. 399.17 crore in the previous year. Asian Granito India Ltd. has also commenced commercial operations at its wholly-owned subsidiary, AGL Sanitaryware, at Morbi, Gujarat, marking a strategic shift from third-party sourcing to internal manufacturing. The company aims to achieve a turnover of around Rs. 400 crore from its sanitaryware and bathware division in five year
