Any current/future new fundraising through debt or equity?

No major CAPEX or significant fundraising plans are envisaged for the next 1-2 years as per management. The company plans to utilize existing capacity by product mix changes and focus on high-value products. Any volume growth is expected to come largely through an asset-light model, including JVs or associations with Morbi players. Potential investment could be explored in the South market through a JV, but this is still under process and no concrete plans or fundraises are mentioned. Consolidated debt increased by about Rs. 160 crores due to expansion in double charged vitrified tiles, with t

Any current/future capex/capital investment/strategic investment?

No major CAPEX planned for the next 1-2 years; focus is on utilizing existing capacity by changing product mix to high-value products and maximizing utilization. Small CAPEX below Rs. 10 crores planned for showroom development in Morbi. New capacity installations: - Marble and Quartz segment: a new line operational from April. - Third line for GVT: expected to start full operation in April. - 80 x 80 Multi Charge plant progressing well, expected to reach full capacity. JV under consideration for a new plant in South India to leverage logistic savings and market potential in S

Future growth expectations in sales/revenue/volumes?

The company expects a volume growth of around 5-6% in the next quarter (Q4 FY17) and continued growth post-GST implementation. For the next financial year, volume growth of around 7% was achieved in earlier quarters and expected to sustain. Revenue growth is supported by a shift toward high-value products like GVT, double charged vitrified tiles, marble, and quartz. Expansion plans include new capacities operational by April in marble and quartz, GVT third production line, and increased production of multi-charged and jumbo tiles. The company is focusing on increasing retail presence via exclu

Future growth expectations in earnings/operating earnings/profits/EPS?

Confident to sustain and improve operating (EBITDA) margins beyond current 13.6% in next financial years, though exact basis point increase not specified. Growth driven by high-value products (GVT, double charged, marble & quartz) manufactured in-house and improvements in product mix. Expect volume growth around 5-6% for next quarters and post-GST implementation benefits to pricing and margins. Company plans to increase government business from current 10% to 25%, grow retail base to 50%, and benefit from organized market shift post-GST. Expansion in capacity with new lines for marble

Current/ Expected Orderbook/ Pending Orders?

On Page 9, Kamlesh Patel mentions that the 80 x 80 product, which is a recent addition to their portfolio, has already secured orders booked for the next 3 months in double charged tiles. No explicit numerical value or overall orderbook figure is provided in the transcript. The confidence in increasing sales, especially in GVT and double charged products, indicates a robust current and near-term demand pipeline. The company is optimistic about sustaining volume growth of around 5-7% and maintaining or improving EBITDA margins, driven by this orderbook and product mix. Additionally, the planned

Asian GranitoQ3 FY17Consumer Durables

Asian Granito Q3 FY17 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹46.59P/E: 106.1Market Cap: ₹1.4K CrSector: Consumer Durables

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

N/A

Capex

0 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

The company expects a volume growth of around 5-6% in the next quarter (Q4 FY17) and continued growth post-GST implementation.
For the next financial year, volume growth of around 7% was achieved in earlier quarters and expected to sustain.
Revenue growth is supported by a shift toward high-value products like GVT, double charged vitrified tiles, marble, and quartz.
Expansion plans include new capacities operational by April in marble and quartz, GVT third production line, and increased production of multi-charged and jumbo tiles.
The company is focusing on increasing retail presence via exclusive showrooms, targeting to grow retail base from current 30-35% to 50%.
Expected benefits from GST and organized market shift to maintain or improve pricing and margins.
Joint venture plans and capacity addition in South India for soluble salt tiles to expand geographic reach and market share.
Sustainable EBITDA margins expected at around 13.6% with improvements in coming years.

Margin guidance

Category 3

Confident to sustain and improve operating (EBITDA) margins beyond current 13.6% in next financial years, though exact basis point increase not specified.
Growth driven by high-value products (GVT, double charged, marble & quartz) manufactured in-house and improvements in product mix.
Expect volume growth around 5-6% for next quarters and post-GST implementation benefits to pricing and margins.
Company plans to increase government business from current 10% to 25%, grow retail base to 50%, and benefit from organized market shift post-GST.
Expansion in capacity with new lines for marble & quartz and GVT beginning April, supporting revenue and margin growth.
Earnings growth shown by 33.3% YoY PAT increase for Q3 and 56.7% for nine months FY17; confidence expressed to maintain growth trajectory in future quarters.
No major CAPEX planned next 1-2 years; focus on utilizing existing capacity and asset-light models to drive profitability.

See what Asian Granito management said on margin guidance — free account, 30 seconds.

Fundraise plans

No major CAPEX or significant fundraising plans are envisaged for the next 1-2 years as per management.
The company plans to utilize existing capacity by product mix changes and focus on high-value products.
Any volume growth is expected to come largely through an asset-light model, including JVs or associations with Morbi players.
Potential investment could be explored in the South market through a JV, but this is still under process and no concrete plans or fundraises are mentioned.
Consolidated debt increased by about Rs. 160 crores due to expansion in double charged vitrified tiles, with total debt around Rs. 375-380 crores as of Q3 FY17.
No specific current indication of raising new equity or debt beyond existing facilities was provided in the call.

Order book

On Page 9, Kamlesh Patel mentions that the 80 x 80 product, which is a recent addition to their portfolio, has already secured orders booked for the next 3 months in double charged tiles.
No explicit numerical value or overall orderbook figure is provided in the transcript.
The confidence in increasing sales, especially in GVT and double charged products, indicates a robust current and near-term demand pipeline.
The company is optimistic about sustaining volume growth of around 5-7% and maintaining or improving EBITDA margins, driven by this orderbook and product mix.
Additionally, the planned capacity expansions in marble, quartz, and GVT segments (starting April) and JV explorations indicate preparation for increased order fulfillment in the coming quarters.

See what Asian Granito management said on order book — free account, 30 seconds.

Capex plans

No major CAPEX planned for the next 1-2 years; focus is on utilizing existing capacity by changing product mix to high-value products and maximizing utilization.
Small CAPEX below Rs. 10 crores planned for showroom development in Morbi.
New capacity installations:
- Marble and Quartz segment: a new line operational from April.
- Third line for GVT: expected to start full operation in April.
- 80 x 80 Multi Charge plant progressing well, expected to reach full capacity.
JV under consideration for a new plant in South India to leverage logistic savings and market potential in Soluble Salt tiles, but investment is still in exploration stage.
Focus on asset light model with outsourcing and JV in Morbi for mass products, while own plants produce premium products.

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Asian Granito Q3 FY17 Earnings Call Analysis

Revenue guidance

Fundraise plans

Capex plans

How does Asian Granito rank in Consumer Durables?

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What Asian Granito's management said in earlier quarters

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