To begin with let me tell you in brief about our growth trajectory. In 22 years, after it was established, Asian Granito India Ltd. (AGL) has emerged as one of the foremost luxury surfaces and bathware solution brands in India. In a very short span of time the company has achieved 40 times growth in its production capacity, from 2,500 square meters per day in the year 2000 to 98,000 + square meters per day and ranks amongst the top ceramic tiles companies in India. With an objective to strengthen the company's leadership position and market share, we have lined up mega expansion plans in the India's ceramic hub -Morbi, Gujarat.
First initiative -the company is setting up three state-of-the-art manufacturing facilities at Morbi in Value Added Luxury Surfaces & Bathware Segments including GVT Tiles, Sanitaryware and SPC Flooring. Second initiative - the Company is setting up one of the World's largest Display Centres covering an area of approximately 1.5 lakh sq. feet at Morbi to showcase Group's entire product range under single roof. To make the above-mentioned mega initiatives a success, the company has achieved a successful closure of Rights issue of ₹440.96 crore. With the successful completion of these two ambitious plans we expect to generate peak sales of ₹700 crore per annum from the three plants and also feel display centres will contribute ₹500 crore of revenue.
That’s good news but can you elaborate its direct impact on the topline? What are the other ongoing projects?
To answer the first part of your question we are certain the expansion plans will take the company closer to its vision to achieve ₹6,000 crore in topline in the medium to long term.
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