Asian Granito’s Shares Surge on Strategic UK Partnership - News

Asian Granito India Ltd (AGL), India’s leading tiles brand, witnessed its stock price jump by 11 percent, reaching INR 74.05 per share, after the company announced a Joint Venture Agreement (JVA) with Shudh Investments Ltd and UK-based Klyn Stone Ltd. The partnership aims to acquire shares in Klyn AGL Ltd, a joint venture company incorporated in England and Wales focused on trading large porcelain slabs, tiles, and quartz products. This saw the market capitalization of AGL touch INR 938.55 crore, reflecting strong investor confidence.
 
With an increase in stock prices, it seems the company is diversifying business with a positive strategic move towards the international presence of its business. The company's financials did see a small slide in revenue from INR 400.93 crore in Q2FY24 to INR 383.68 crore in Q2FY25. However, the company managed to turn a net loss into a profit of INR 4.69 crore. This recovery shows a resilient performance despite a slight downturn in sales.
 
AGL is also ramping up its local and international expansion efforts. Plans are in place to increase the production capacity, open new showrooms, and expand its reach in Morbi, Gujarat. The company, with an established presence in Gujarat, producing millions of square meters yearly and a growing international portfolio, is geared up for a bright future in its home as well as overseas markets.