Asian Granito India Limited will conduct its 31st Annual General Meeting (AGM) on Wednesday, September 9, 2026, at 11:00 am. The meeting will be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM). The notice for the meeting was submitted to stock exchanges on August 14, 2026, and published in newspapers on August 13, 2026.

Key Agenda Items

The primary business at the AGM involves the re-appointment of key managerial personnel for further terms. Shareholders will vote on special resolutions to re-appoint:

• Kamleshkumar Bhagubhai Patel as Chairman and Managing Director (CMD) for three years from January 1, 2027, to December 31, 2029.
• Mukeshbhai Jivabhai Patel as Managing Director (MD) for three years from April 1, 2027, to March 31, 2030.

Both executives have over 28 years of experience in the ceramic industry. Their proposed monthly salary ranges from ₹5 lakh to ₹15 lakh, along with perquisites such as medical insurance and travel reimbursements. They are not entitled to sitting fees during their tenure.

Additionally, the ordinary business includes:

• Adoption of Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026.
• Re-appointment of Bhaveshkumar Vinodbhai Patel as a director, who retires by rotation.

Financial Performance Context

The AGM will consider the audited financial results for FY26. According to the explanatory statement annexed to the notice, the company's financial performance over the last three years is as follows:

The data indicates a decline in sales from ₹1,220.2 crore in FY24 to ₹1,095.1 crore in FY26. Similarly, PAT contracted significantly from ₹24.6 crore in FY24 to ₹3.2 crore in FY26.

E-Voting and Meeting Details

The remote e-voting period commences on September 4, 2026, at 9:00 am and ends on September 8, 2026, at 5:00 pm. Only shareholders holding shares as on the cut-off date of September 2, 2026, are eligible to vote. The facility is provided by National Securities Depository Limited (NSDL).

Mr. Rajesh Parekh has been appointed as the Scrutinizer to oversee the e-voting process. The deemed venue for the AGM is the company's registered office in Ahmedabad. Proxy appointments are not available for this meeting, though body corporates may appoint authorized representatives.

Regulatory Compliance

The AGM is being conducted in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also adheres to Ministry of Corporate Affairs (MCA) Circular no. 20/2020 dated May 5, 2020, Circular no. 14/2020 dated April 8, 2020, and Circular no. 03/2025 dated September 22, 2025.

Dhruti Mahesh Trivedi, Company Secretary and Compliance Officer, signed the communication on August 13, 2026.

Asian Granito reported consolidated revenue from operations of ₹1,858.06 crore for the financial year ended March 31, 2026, marking an 8.6% increase over the previous year’s ₹1,710.98 crore. Operating profit (EBITDA) rose 15.4% to ₹120.42 crore, reflecting improved asset utilisation and product mix refinement.

The most significant metric was the bottom line: consolidated net profit expanded 89.7% to ₹18.74 crore, compared to ₹9.88 crore in FY25. Management attributed this sharp improvement in profitability to margin insulation strategies that absorbed external freight and energy cost pressures.

What the Numbers Show

While top-line growth remained moderate at 8.6%, the disproportionate jump in net profit highlights the effectiveness of the company's premiumisation strategy. The EBITDA margin improved from 6.1% in FY25 to 6.5% in FY26. This divergence between revenue growth and margin expansion indicates that higher-value product sales—specifically large-format porcelain slabs and engineered surfaces—are driving profitability more than volume growth alone.

Strategic Restructuring and Expansion

FY26 was defined by structural transformation through two NCLT-approved schemes of arrangement:

• Scheme I: Approved in June 2025, this scheme amalgamated multiple entities including Affil Vitrified, Ivanta Ceramics, and Crystal Ceramic Industries into Asian Granito. It resulted in the allotment of 848.6 million equity shares.
• Scheme II: Approved in February 2026, this arrangement integrated Adicon Ceramica Tiles and Adicon Ceramics, adding another 645.6 million equity shares to the capital base.

These consolidations have created a diversified conglomerate covering the entire value chain of tiles, bathware, marbles, and quartz.

International and Domestic Footprint

The company expanded its global reach by establishing permanent localised infrastructure in four key geographies: Dubai, the United Kingdom, Indonesia, and Senegal. Domestically, Asian Granito strengthened its retail presence with over 18,000 touchpoints and 277 exclusive franchise showrooms.

Sanitaryware emerged as a fast-growing vertical, with Q3FY26 revenue reaching ₹35.09 crore, a 49% year-on-year increase. The nine-month sanitaryware revenue of ₹85.27 crore already surpassed the full-year FY25 figure of ₹57.21 crore, signaling strong momentum in this segment.

Outlook and Governance

Management outlined a roadmap to transform Asian Granito into a ₹6,000 crore revenue enterprise, focusing on product premiumisation, experiential retail expansion, and digital enterprise transformation. Capital discipline remains a priority, with FY26 CAPEX restricted to ₹25 crore, primarily directed at showroom infrastructure rather than greenfield manufacturing.

The Board did not recommend a dividend for FY26, opting to retain earnings for future growth. The 31st Annual General Meeting is scheduled for September 9, 2026, where shareholders will vote on the reappointment of Chairman and Managing Director Kamleshkumar Patel and Managing Director Mukeshbhai Patel.