Asian Granito India Limited has completed the distribution of proceeds from the sale of fractional shares to eligible shareholders pursuant to its Composite Scheme of Arrangement. The company's Audit Committee and Independent Directors certified on June 5, 2026, that the net sale proceeds were distributed proportionally to the shareholders of Adicon Ceramica Tiles Private Limited. This action follows the scheme becoming effective on March 1, 2026, after the National Company Law Tribunal sanctioned the arrangement.

The scheme involved the transfer of the tiles business from Adicon Ceramica Tiles Private Limited to Adicon Ceramics Limited. Shareholders of the demerged company were allotted shares in Asian Granito India Limited at an exchange ratio of 1060 equity shares for every 11 shares held. Fractional entitlements arising from this allotment were rounded up to 14 fully paid-up equity shares and allotted to a trustee appointed by the Board on March 5, 2026.

Dr. Dhruti Mahesh Trivedi, the Company Secretary and Compliance Officer, was appointed as the trustee to hold and sell these fractional entitlements. The consolidated shares were sold on June 3, 2026, at an average selling price of ₹60.50 per share. The gross proceeds generated from the sale amounted to ₹851.67, with deductions totaling ₹25.845 covering expenses and applicable taxes.

The following table details the financial breakdown of the transaction:

The trustee confirmed the completion of the disbursement to eligible shareholders on June 4, 2026. The distribution was made in proportion to the shareholders' respective fractional entitlements. The certifications by the Audit Committee and Independent Directors confirm compliance with Paragraph D of Part 1 of the SEBI Master Circular on Scheme of Arrangement by Listed Entities dated June 20, 2023, and Clause 10.3 of the scheme.

[Asian Granito India Limited](asian granito) reported a consolidated net profit of ₹18.74 crore for the financial year ended March 31, 2026, an increase of 89.69% from ₹9.88 crore in the previous year. Revenue from operations rose by 8.60% to ₹1,858.06 crore in FY26, compared to ₹1,710.98 crore in FY25. The strong performance was supported by healthy market demand, improved operational efficiencies, enhanced product mix, and continued expansion across domestic markets.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, in a meeting held on May 30, 2026. The statutory auditors, M/s. R R S & Associates, issued an unmodified opinion on the standalone and consolidated financial results. The financial results incorporate the effects of the Composite Scheme of Arrangement sanctioned by the National Company Law Tribunal (NCLT), with an appointed date of October 16, 2023.

Financial Performance

For the quarter ended March 31, 2026, the company reported a consolidated net loss of ₹3,266.38 lakh, compared to a loss of ₹487.44 lakh in the same quarter of the previous year, while Q4 consolidated revenue came in at ₹53,849.50 lakh versus ₹51,477.04 lakh year-on-year. On a standalone basis, the company reported a net profit of ₹323.20 lakh for FY26, compared to ₹1,187.78 lakh in the previous year. The standalone net loss for the quarter ended March 31, 2026, was ₹1,425.50 lakh.

Key Financial Metrics (Consolidated, ₹ in crore)

Q4 Consolidated Performance (₹ in lakh)

Operational and Regulatory Disclosures

The standalone results for the quarter were impacted by a one-time catch-up adjustment where the company reversed nine-month interest income of ₹1,339.29 lakh previously recognized up to December 31, 2025. This decision to cease interest accruals on advances to wholly-owned subsidiaries resulted in a negative 'Other Income' at the standalone level. The company noted that this being an intra-group transaction, there was nil impact on the consolidated financial results.

The auditors drew attention to a search operation carried out by the Income Tax department at the company's business premises on May 26, 2022. Various orders have been received against which the company has filed appeals. The final impact of these matters on the financial results is presently not ascertainable pending the finalization of appeals. Additionally, the company stated that the results for the quarter were adversely affected by anti-dumping duties imposed by the US government and a temporary shutdown of ceramic plants in Morbi due to a shortage of gas supply caused by the West Asia conflict.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE022I01019/6506ddaeac0141a7.pdf