Asian Granito India Ltd

- 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.

- 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.

- 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.

- 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.

- 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.