Asian granito India Limited has announced the resignation of its Chief Financial Officer, Mr. Mehul Shah, effective from January 28, 2026. The company disclosed this key managerial personnel change to stock exchanges in compliance with regulatory requirements.

Resignation Details

Mr. Mehul Shah tendered his resignation from the position of Chief Financial Officer and Key Managerial Personnel, effective from the close of business hours on Wednesday, January 28, 2026. In his resignation letter addressed to the Board of Directors, Shah stated that he is leaving to pursue alternate career opportunities.

Regulatory Compliance

The resignation was formally disclosed to both BSE Limited (Company Code: 532888) and National Stock Exchange of India Limited (Company Code: ASIANTILES) pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure was signed by Dhruti Trivedi, Company Secretary and Compliance Officer, and submitted on January 28, 2026. The company confirmed that Mr. Shah had stated there are no other material reasons for the resignation beyond those mentioned in his resignation letter.

Company Acknowledgment

Asian Granito India Limited placed on record its sincere appreciation for the valuable services rendered by Mr. Mehul Shah during his tenure as CFO. The company acknowledged his contributions and expressed gratitude for his service to the organization.

In his resignation letter, Mr. Shah expressed appreciation to the Board of Directors and management for their support and cooperation during his tenure. He wished the company continued success in the future and requested the Board to arrange for necessary disclosures and filings with stock exchanges and statutory authorities.

About the Company

Asian Granito India Limited operates in the tiles, marble, quartz, and bathware segments. The company is headquartered at 202, Dev Arc, opposite Iskcon Temple, S.G. Highway, Ahmedabad, Gujarat, and has been in operation for over 20 years.

Asian Granito India has successfully completed the acquisition of a 26% stake in Allomex Steel, making it an associate company. This strategic investment marks a significant expansion of the company's business portfolio beyond its traditional ceramic products segment.

Strategic Acquisition Details

The completion of this stake purchase establishes a formal business relationship between Asian Granito India and Allomex Steel. With a 26% ownership stake, Allomex Steel now qualifies as an associate company under accounting standards, which typically require ownership of 20% or more for associate company classification.

Business Diversification Strategy

This acquisition represents Asian Granito India's strategic move to diversify its business operations beyond ceramic products. The investment in Allomex Steel provides the company with exposure to the steel industry, potentially creating synergies and new growth opportunities across different industrial sectors.

Associate Company Framework

Under the associate company structure, Asian Granito India will have significant influence over Allomex Steel's operations while maintaining its independent business operations. This relationship allows for strategic collaboration and potential operational synergies between the two companies while preserving their distinct business identities.