After expanding its wall tile manufacturing capacity recently, Asian Granito India Limited is now eyeing the Quartz segment. The company plans to foray into Quartz manufacturing by mid financial year 2010-11. Aiming to commission manufacturing of Quartz for a capacity of 5,000 sq ft per day, the company plans to invest about Rs 15 crore for the same.
"While we have expanded our wall tile manufacturing capacity recently, our next plan is to set up a plant to produce Quartz which will make Asian Granito the first organised player to do so. We intend to commission manufacturing of Quartz by middle of the financial year 2010-11. We are eyeing malls and airports for Quartz tiles," said Hasmukh Patel, managing director of Asian Granito India Limited.
The company recently executed its Rs 37 crore wall tile expansion project at its Himmatnagar plant in Gujarat, four months ahead of the schedule.
"Earlier we had a wall tile manufacturing capacity of 9,300 sq metres per day. While we intended to double it, we ended up outstripping our expansion target and added 12,700 sq metres per day. Currently, our total tiles manufacturing capacity is 45,000 sq metres per day, of which 22,000 sq metres per day comes from wall tiles, 16,000 sq metres per day from vitrified tiles, and 7,000 sq metres per day from ceramic tiles," said Kamlesh Patel, chairman of Asian Granito India Limited.
As against a turnover of about Rs 360 crore last year, this year Asian Granito is expecting to peg a turnover of Rs 420 crore. "Since the expanded capacity is commencing commercial production from this March, the revenue contribution from it will be realised fully in financial year 2010-11. Nevertheless, for 2009-10 we are expecting a turnover of Rs 420 crore and another 20 per cent growth to register a turnover of Rs 500 crore for the financial year 2010-11," Kamlesh Patel added.
Meanwhile, the company expects its exports to be about 10 per cent of the total business in the next two years. Currently, the company manufactures vitrified tiles, wall tiles, and ceramic tiles. The company has also set up a marble stone plant with an investment of Rs 55 crore.