Asian Granito India Limited , a leading manufacturer of tiles and bathware solutions, has completed a strategic divestment while reporting robust financial performance for the second quarter ended September 30.

Strategic Transaction Completed

The company has successfully completed the disposal of 25% equity stake in AGL Proteins Private Limited on December 31, 2025. This transaction, which was previously approved by the board in November 2025, has converted AGL Proteins from a subsidiary to an associate company.

Financial Highlights

Q2 Performance

The company demonstrated strong operational performance with significant improvements in profitability metrics.

H1 Performance

Operational Performance

Strategic Developments

Beyond the AGL Proteins divestment, the company has undertaken several strategic initiatives:

• International Expansion: Approved increased capital contribution in Harmony Surfaces Thailand Limited, a wholly owned subsidiary incorporated in June 2024
• Growth Vision: Launched Enhanced Strategic Integration Programme (ESIP) with long-term vision of achieving ₹6,000.00 crore in total revenue
• Brand Enhancement: Appointed Bollywood actor Ranbir Kapoor for "Premium ka Pappa" campaign

Management Commentary

Kamlesh Patel, Chairman and Managing Director, stated: "We are delighted that the composite scheme of arrangement approved by the NCLT has now become effective — a significant milestone for the company. Our Q2 performance reflects our strength — driven by operational discipline and a clear focus on sustainable growth. With expansion of our retail and global footprint, launch of powerful brand campaigns we aim to become a truly global brand and achieve revenue target of Rs. 6,000 crore over the next 4-6 years."

Future Outlook

Asian Granito India Limited continues to focus on operational efficiency, brand strengthening, and strategic expansion. The company aims to position itself as a leading player in the luxury surfaces and bathware solutions market, with a presence in over 100 countries and an extensive distribution network across India.

The company operates in tiles, marble, quartz, and bathware segments, maintaining its commitment to sustainable growth while optimizing its portfolio through strategic transactions like the AGL Proteins divestment.

Mukeshbhai J. Patel, Managing Director and Promoter of Asian Granito India Limited, has acquired 3,00,000 equity shares of the company through open market purchase on December 23, 2025. The transaction was disclosed to BSE Limited and National Stock Exchange of India Limited under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Transaction Details

The acquisition represents a strategic increase in the promoter group's stake in the ceramic products company. The following table summarizes the key transaction parameters:

Shareholding Pattern Changes

The acquisition has resulted in a notable change in the promoter group's shareholding pattern in Asian Granito India Limited:

Promoter Group Structure

Mukeshbhai J. Patel operates as part of a promoter group that includes several related entities and individuals. The detailed shareholding breakdown shows the distribution among various promoter group members:

Company Capital Structure

Asian Granito India Limited's share capital structure remains unchanged following this transaction. The company's total share capital stands at ₹231.91 crores, divided into 23,19,11,649 equity shares of ₹10.00 face value each. The company's shares are listed on both BSE Limited (scrip code: 532888) and National Stock Exchange of India Limited (symbol: ASIANTILES).

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations governing substantial acquisition of shares and takeovers. The transaction was communicated to both stock exchanges where the company's shares are listed, ensuring full transparency and regulatory adherence. The acquisition falls within the normal course of promoter investment activities and does not trigger any additional disclosure requirements under the takeover regulations.