Asian Granito India plans to double the capacity
Asian Granito India Ltd, a tile manufacturing company, plans to double the capacity of Quartz Stone segment to 5.28 lakh square meter per annum in FY 17-18 from existing 2.64 lakh square meter.
“Quartz as a segment contributes Rs 45 crore sales currently which company expects to increase to Rs 125 crore over the next 2-3 years,” said Kamlesh Patel, Chairman and Managing Director of the company.
Mukesh Patel, Managing Director of the company said, “Post expansion revenue contribution from quartz segment is expected to double from 4.3% to 9% of the total sales. We are also targeting to increase our share in export quartz market for 2017-18. Quartz is a premium product and hence we also expect to earn a healthy EBITDA margin in the range of 30-32% from the expanded facility.”
Market for quartz stone in India is estimated at around Rs. 200-250 crore and growing at 25-30% per annum. Quartz slabs are mostly preferred for use in the high traffic areas such as malls, airport, railway station, hospitals, commercial spaces, etc.