Asian granito India Limited has announced the reaffirmation of its credit ratings by Infomerics Valuation and Rating Limited, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company received the updated credit rating letter on March 27, 2026.

Credit Rating Details

Infomerics has reaffirmed the credit ratings for the company's bank facilities totaling ₹155.00 crores. The rating action maintains both long-term and short-term facilities under watch with developing implications.

Facility Breakdown

The long-term facilities of ₹145.00 crores comprise various banking arrangements across multiple lenders. HDFC Bank provides a cash credit facility of ₹40.00 crores, while IDBI Bank offers cash credit of ₹40.50 crores and WCDL of ₹4.50 crores. IndusInd Bank contributes ₹50.00 crores in cash credit facilities, with additional sublimits including FLC of ₹35.00 crores, WCDL of ₹50.00 crores, BG of ₹15.00 crores, and Standby LC of ₹25.00 crores. A proposed cash credit limit of ₹10.00 crores is also included in the rating.

The short-term facilities consist of a ₹10.00 crore Letter of Credit facility from IDBI Bank, classified as a non-fund based instrument.

Rating Validity and Compliance

The credit ratings are valid for one year from the date of the surveillance rating committee, extending until May 29, 2026. Infomerics reserves the right to undertake surveillance and review of the ratings based on circumstances warranting such review, with at least one annual review mandatory.

Ongoing Obligations

As part of the rating agreement, Asian Granito India Limited must provide monthly No Default Statements by the first date of each succeeding month. The company is also required to furnish quarterly performance results and operational data within six weeks from the close of each calendar quarter for continuous monitoring purposes.

The rating reaffirmation reflects Infomerics' assessment of the company's operational and financial performance, with both ratings maintained under watch with developing implications, indicating ongoing monitoring of the company's credit profile.

Asian granito India has announced the appointment of Dibyendu Dey as its new Chief Financial Officer and Key Managerial Personnel, following board approval at a meeting held on March 13, 2026. The company has formally notified stock exchanges BSE and NSE about this key leadership appointment through official regulatory filings.

Board Meeting Outcome

The company's Board of Directors approved the appointment during their meeting on March 13, 2026, which commenced at 15:00 p.m. and concluded at 15:45 p.m. The appointment was made based on the recommendation of the Nomination and Remuneration Committee and is effective immediately from March 13, 2026.

Professional Background

Mr. Dibyendu Dey brings over 28 years of experience in operational and finance leadership roles with a successful track record of working with Boards, CEOs and multiple regional and global stakeholders across various industries. His extensive background includes hands-on experience in managing the entire gamut of finance, reporting and controlling of listed companies. He has worked with various organizations including NITCO Ltd, Essar Group, and RPG Group.

Key Managerial Personnel Authorization

The board also approved changes in authorized Key Managerial Personnel for determining materiality of events and making disclosures to stock exchanges under SEBI LODR Regulations. For determining materiality, the authorized personnel include Chairman & Managing Director Mr. Kamleshkumar B. Patel, Managing Director Mr. Mukeshbhai J. Patel, and CFO Mr. Dibyendu Dey. For making disclosures to stock exchanges, Dr. Dhruti Trivedi serves as Company Secretary and Compliance Officer.

Regulatory Compliance

The appointment has been communicated to both BSE (Company Code: 532888) and NSE (Company Code: ASIANTILES) in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all required disclosures pursuant to SEBI regulations and circular requirements.

This strategic appointment strengthens Asian Granito India's financial leadership structure as the company continues to enhance its executive team across various business functions.