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En agosto 12, hora local, Asian Granito India Limited (en adelante denominado “AGL”), one of India’s four major ceramic sanitary ware companies, announced its report for the first fiscal quarter ended June 30, 2022 (2022.4-6). Sales for the period were Rs. 3.100 mil millones (approximately Rs. 264 millón), un aumento de aproximadamente 12% año tras año. Combined with AGL’s previously announced January-March sales data, the company achieved total sales of Rs. 7.887 mil millones (aproximadamente RMB 670 millón) en la primera mitad de 2022.
Ventas del primer semestre de aproximadamente $670 millón.
Revenue increase without profit increase
According to AGL’s first-quarter report, the company achieved sales of Rs 3.100 billion in the April-June period of 2022. This is higher than the Rs. 2.729 billion in the same period of the previous year, an increase of about 12 por ciento. In combination with the previously announced figures, AGL reported sales of Rs. 7.887 mil millones (approximately Rs. 670 millón) en la primera mitad de 2022. Despite the increase in sales, net profit for the April-June period was a loss of Rs. 20.97 millón, compared to a profit of Rs. 82.18 millones en el mismo periodo del año anterior. Basic loss per share for the same period was Rs. 0.23, compared to basic earnings per share from continuing operations of Rs. 2.4 a year ago.
Also according to AGL’s annual report for fiscal year 2021 (2021.4-2022.3), which was released in May this year. The company achieved sales of Rs. 15.638 mil millones (approximately Rs. 1.329 mil millones) en el año fiscal 2021, arriba 21% from Rs. 12.923 billion in FY 2020. This is a record high. Despite the positive sales, there was a decline in profits. Ebitda (ganancias antes de impuestos, interés, depreciación y amortización) for the full fiscal year was Rs125 million, abajo 8.3% interanual. Profit margin also slipped to 8.01% de 10.5%.
Kamlesh Patel, chairman of AGL, said the company achieved its best-ever results in fiscal 2021 despite the pressure on the ceramics industry in terms of gas prices, precios de materias primas, coal prices and international freight rates. He said AGL’s strategy going forward is to continue to improve margins and expand its brand presence in the high-end flooring and bathroom industry.
Founded only 22 hace años que, the main business includes sanitary ware, tiles and flooring, etc..
Public information shows that AGL was established in 2000 in Ahmedabad, the main commercial city of Gujarat, India. Después de más de 20 años de desarrollo, AGL has now become one of the most influential ceramic sanitary ware companies in India. Actualmente, AGL has 9 production sites and about 300 showrooms in Gujarat, y 12 showrooms across India. Its products are not only sold in India, but also exported to more than 100 países y regiones de todo el mundo.
AGL’s main products include tiles, engineered marble, cuarzo, sanitaryware and plumbing hardware, and its businesses are carried out in the form of subsidiaries. The subsidiaries are responsible for the tile, sanitaryware and flooring businesses. Entre ellos, the bathroom subsidiary AGL Sanitaryware Pvt Ltd not only produces its own bathroom products. They also sell products from third-party manufacturers in India as well as from foreign companies under the AGL brand through OEMs.
Tile and flooring are also AGL’s main business, especially in the tile business. AGL’s production capacity has increased from 800,000 square meters per year in 2000 a 34.5 million square meters at present, making AGL one of the most influential local tile brands in India. Además, AGL Surfaces Pvt Ltd, which is responsible for the flooring business, is well known for its stone crystal flooring (una nueva variedad de suelos de PVC) productos. En años recientes, they have focused on expanding their product portfolio and strengthening their export business as their development objectives.
The Indian market continues to expand with
AGL buys land for $425 million to build a factory
India is the second largest consumer country in the world, with huge potential in the consumer market. Al mismo tiempo, en los últimos años, India is also actively carrying out the “Clean India” campaña, local residents’ health and hygiene awareness has increased, and the demand for sanitary products continues to increase. In such a context, Indian building materials companies actively expand production capacity to adapt to their own development and meet market demand.
Around capacity expansion, AGL announced in May this year that it had acquired a piece of land in Gujarat’s Morbi region and spent 5 mil millones de rupias (acerca del RMB 425 millón) to establish three new production bases. Entre ellos, the new bathroom factory covers an area of 45,122 metros cuadrados, with an annual capacity of about 660,000 piezas. The ceramics plant and the flooring plant occupy 69,506 square meters and 18,715 square meters respectively. Después de la puesta en servicio, the production capacity of the company’s three major categories will be expanded. Además, AGL also plans to build the largest new showroom in India on the site. AGL expects that this expansion and the new showroom plan will add Rs. 10 mil millones en Rs. 12 billion to the company’s annual sales, equivalent to double.
In addition to AGL, other local Indian sanitary ware companies such as Cera Sanitaryware and Kajaria Ceramics have also accelerated the pace of production capacity layout. And global companies such as Roca and Lixil are also actively expanding production, seeking to continue to dominate the Indian bathroom market. Por ejemplo, Roca’s Indian subsidiary in 2019 announced an investment of about 500 a 700 million yuan in India faucet factory and sanitary plastic (asiento de tocador, etc.) fábrica.
lixil, although it only set up its subsidiary Lixil India Sanitarywares Pvt in India in 2018, has set a development target of capturing 15%-20% of the Indian market in three years. Además, Chinese companies have also actively laid out the Indian market in recent years.
Haiou Housing, R&t, Luda International and other companies have branches in India, in addition to a large number of domestic companies operating in India.
It can be seen, for AGL, the company’s sales data hit a record high, but the Indian bathroom market in the gradual “Red Sea” to stand out. This difficulty can not be described as not too big.
