Arthneeti

Aro Granite Industries Q4 FY23 Share Price & Earnings Call Analysis

₹21.78-3.24% today
Market cap
₹33 Cr
ROE
-7.46%
Price to sales
0.48
Debt to equity
0.87
52W high / low
₹36.2 / ₹19.0
Sales growth (5Y)
-16.31%
EBITDA margin
-10.06%
Net profit margin
-18.30%
Promoter holding
41.08%
Sales (last year)
₹67 Cr

Incorporated in 1988, ARO Granite Industries Ltd manufactures and trades Granite Slabs and Tiles[1]

Guidance scorecard · Q4 FY23 call

What Aro Granite Industries Ltd's management guided
and where it ranks in Consumer Durables

Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ4 FY23 call

10–20%
  • FY23 was challenging due to high freight costs, duty issues on quartz exports, and market slowdowns in the US and Europe.
  • Management is optimistic about gradual recovery and improvement in FY24.
  • They expect FY24 turnover to cross INR 250 crores (including quartz business).
  • Quartz plant is currently utilized at 80-90%, generating around INR 50 crores annually.
  • There is potential to double quartz capacity with an additional INR 20 crore investment, likely considered in FY24 or later.
  • Jaipur facility expansion added capacity (~1.5 lakh sqm) to process Rajasthan blocks and reduce freight costs.

2 more points from Aro Granite Industries Ltd's call on revenue

Create a free account to keep reading this call

Full Q4 FY23 analysis

MarginsQ4 FY23 call

Flat

See what Aro Granite Industries Ltd said on margins — free account, 30 seconds.

Full Q4 FY23 analysis

CapexQ4 FY23 call

Planned
  • The company plans an incremental investment of about Rs. 20 crores to double the quartz business capacity, but the timeline for this is uncertain and likely post-2023, with 2024 being a more probable year for expansion.
  • Expansion and scaling up of the Jaipur facility have already been done, and further utilization improvements are expected.
  • The quartz facility is currently operating at 80%-90% utilization, and further capacity enhancements depend on market conditions improving, particularly easing interest rates.

2 more points from Aro Granite Industries Ltd's call on capex

Create a free account to keep reading this call

Full Q4 FY23 analysis

FundraisingQ4 FY23 call

See what Aro Granite Industries Ltd said on fundraising — free account, 30 seconds.

Full Q4 FY23 analysis

Order bookQ4 FY23 call

  • Quartz plant has enough orders and has been running at almost 85% to 90% capacity for the last 3 months.
  • The company has complete orders for the quartz plant currently.
  • Despite earlier low utilization (around 35% in Q4 FY23 due to duty issues earlier in the year), the plant is now running at near full capacity.
  • The bullish order position indicates strong demand for quartz products post the removal of antidumping duty.
  • Business outlook for FY24 is optimistic with expected turnover crossing Rs. 250 crores overall.

2 more points from Aro Granite Industries Ltd's call on the order book

Create a free account to keep reading this call

Full Q4 FY23 analysis
Full Consumer Durables ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Consumer Durables
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Aro Granite Industries Ltd rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Consumer Durables companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹166 Cr20.3
240%+Up 2%+₹100 Cr12.7
340%+Up 0–2%₹3,249 Cr17.4
440%+Up 0–2%₹2,081 Cr18.8
540%+Flat₹2,429 Cr41.1
640%+Flat₹2,163 Cr25.6

Sign up free to see every company in the sector ranking and track Aro Granite Industries Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables ranking

Financials of Aro Granite Industries Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Aro Granite Industries Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +46.9651.4337.4233.3532.9037.5528.6130.1226.8127.0420.2714.6911.52
Expenses +39.9342.9631.8626.5824.9232.4428.5529.6926.1021.4519.8116.4514.31
Operating Profit7.038.475.566.777.985.110.060.430.715.590.46-1.76-2.79
OPM %14.97%16.47%14.86%20.30%24.26%13.61%0.21%1.43%2.65%20.67%2.27%-11.98%-24.22%
Other Income +0.050.591.300.210.351.18-2.085.415.140.443.865.042.48
Interest3.723.883.503.715.013.543.092.973.273.484.273.783.58
Depreciation3.202.942.922.922.942.602.362.502.482.452.452.422.50
Profit before tax0.162.240.440.350.380.15-7.470.370.100.10-2.40-2.92-6.39
Tax %-200.00%41.07%11.36%77.14%5.26%-400.00%-3.61%102.70%70.00%40.00%3.33%1.71%0.31%
Net Profit +0.491.320.390.080.360.75-7.20-0.000.020.06-2.49-2.97-6.41
EPS in Rs0.320.860.250.050.240.49-4.71-0.000.010.04-1.63-1.94-4.19

Financials of Aro Granite Industries Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +25321323719917117717922416315412374
Expenses +22419320718614815915519414412311672
Operating Profit2920291324192430193162
OPM %11%9%12%6%14%10%13%13%12%20%5%2%
Other Income +51112311101012
Interest6554565813161315
Depreciation9999811111313121010
Profit before tax197161135811-63-7-12
Tax %12%14%23%9%22%30%24%17%-2%61%-6%2%
Net Profit +17613110469-61-6-12
EPS in Rs10.913.838.250.766.352.363.955.82-3.780.86-4.20-7.73
Dividend Payout %9%26%12%-0%16%-0%-0%-0%-0%-0%-0%-0%

Financials of Aro Granite Industries Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital151515151515151515151515
Reserves139143154155165166172181175177171159
Borrowings +11911510293129159168199205189160152
Other Liabilities +363537413454485655647469
Total Liabilities310309308304343395404451450445420394
Fixed Assets +7473919090139174163160149139128
CWIP721262342181111
Investments000111111110
Other Assets +229216215207230213228280288294279264
Total Assets310309308304343395404451450445420394

Financials of Aro Granite Industries Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +0211622-3631-1814353317
Cash from Investing Activity +-4-24-7-11-26-78-4-6-3003
Cash from Financing Activity +8-5-15-113212324-15-32-34-16
Net Cash Flow5-9-602-3-1-0-43-04
Free Cash Flow-8-11622-30-15-4-2511353319
CFO/OP17%112%68%189%-3%351%6%-57%78%114%518%1,115%

Financials of Aro Granite Industries Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days122138127128122121131119137117104112
Inventory Days2583063734136217257597931,2991,6231,3422,052
Days Payable4349548879158150148233306307437
Cash Conversion Cycle3373964464536646887397641,2041,4351,1391,726
Working Capital Days10513112813911868115151210220232353
ROCE %10%4%8%2%6%3%4%5%2%5%2%1%

Guidance history

How Aro Granite Industries Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY23 call →10–20%FlatPlanned——
Q4 FY22 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Continue your research

What Aro Granite Industries Ltd's management said in earlier quarters

Others in Consumer Durables this season

  • Advit Jewels Ltd (Q2 FY27)

    23.3% growth) . Key results statement takeaways from Advit Jewels Ltd's Q2 FY27 results statement — and how it ranks against sector peers.

  • Kanani Industrie (Q2 FY27)

    2,662.9 Lakhs (~54.6% increase) . Key results statement takeaways from Kanani Industries Ltd's Q2 FY27 results statement — and how it ranks against sector peers

  • Omfurn India (Q2 FY27)

    3,303.15 lakh for the same period in 2025, reflecting a year-on-year increase of approximately 47.3%. Key results statement takeaways from Omfurn India Ltd's Q2

  • Exxaro Tiles Ltd (Q2 FY27)

    6,896.37 lakhs for the quarter ended 30th September 2025, indicating a year-on-year increase of about 62.6%. Key results statement takeaways from Exxaro Tiles L

Compare:vs Titan Companyvs Asian Paintsvs LG Electronics