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Asian Granito Appoints Dibyendu Dey as CFO; Updates KMP Materiality Authorization
Asian Granito India Limited has appointed Mr. Dibyendu Dey as the Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective March 13, 2026. Mr. Dey brings over 28 years of experience in finance leadership, having worked with prominent groups like Essar and RPG. The Board also updated the list of authorized personnel for determining the materiality of events, which now includes the Chairman, Managing Director, and the new CFO. This appointment is expected to bolster the company's financial controlling, debt restructuring, and M&A capabilities.
Key Highlights
Appointment of Mr. Dibyendu Dey as CFO and KMP effective March 13, 2026
Mr. Dey brings over 28 years of experience in finance, reporting, and debt restructuring
Previous leadership roles held at NITCO Ltd, Essar Group, and RPG Group
Updated KMP list for materiality includes Chairman, MD, and the new CFO
💼 Action for Investors
Investors should observe if the new CFO's extensive experience in debt restructuring and turnarounds leads to improved financial health. No immediate portfolio changes are suggested.
Asian Granito Appoints Dibyendu Dey as CFO; Brings 28+ Years of Finance Experience
Asian Granito India Limited has appointed Mr. Dibyendu Dey as the Chief Financial Officer (CFO) and Key Managerial Personnel, effective March 13, 2026. Mr. Dey is a seasoned professional with over 28 years of experience in finance leadership, including roles at NITCO Ltd, Essar Group, and RPG Group. His expertise includes debt restructuring, fundraising, and M&A, which may assist the company in its strategic financial planning. The board also updated its list of authorized personnel for determining the materiality of events under SEBI regulations.
Key Highlights
Appointment of Mr. Dibyendu Dey as CFO and Key Managerial Personnel effective March 13, 2026.
The new CFO brings over 28 years of experience in financial reporting, controlling, and debt restructuring.
Previous experience includes leadership roles at major organizations such as NITCO Ltd, Essar Group, and RPG Group.
Updated the list of KMPs authorized to determine materiality of events, including the CMD, MD, and the new CFO.
💼 Action for Investors
Investors should observe if the new CFO's extensive experience in debt restructuring and turnarounds leads to improved balance sheet management. No immediate action is required as this is a standard management transition.
Asian Granito Faces Gas Supply Restrictions Due to Middle East Conflict; Production Impacted
Asian Granito has been notified by Gujarat Gas and Sabarmati Gas regarding gas supply limitations due to force majeure from Middle East tensions. The restrictions affect Daily Contracted Quantity (DCQ) and Non-MGO gas usage at certain manufacturing units, potentially impacting production. However, the company is currently fulfilling orders through existing inventory and exploring alternate fuel sources. Management does not expect a material impact on overall operations at this time but continues to monitor the situation.
Key Highlights
Received force majeure notice from Gujarat Gas and Sabarmati Gas regarding supply restrictions.
Limitations imposed on Daily Contracted Quantity (DCQ) and Non-MGO gas usage for manufacturing.
Current dispatches remain unaffected as the company utilizes existing inventory levels.
Actively evaluating and implementing alternate fuel options to mitigate production downtime.
No material impact on overall business operations anticipated based on current assessments.
💼 Action for Investors
Monitor the duration of the gas supply disruption and the cost implications of switching to alternate fuels. Any prolonged restriction could pressure operating margins in the upcoming quarters.
Asian Granito Allots 6.45 Cr Equity Shares Following Scheme of Arrangement
Asian Granito India Limited has approved the allotment of 6,45,63,636 equity shares of Rs. 10 each as part of a Composite Scheme of Arrangement with Adicon Ceramica Tiles. This allotment increases the company's total paid-up equity share capital from 23.19 crore shares to 29.65 crore shares, representing a significant equity expansion. The move follows the NCLT Ahmedabad Bench's sanction of the scheme on February 17, 2026. The newly allotted shares will rank pari-passu with existing equity and will be listed on both BSE and NSE.
Key Highlights
Allotment of 6,45,63,636 equity shares of Rs. 10 each to shareholders of Adicon Ceramica Tiles.
Total paid-up equity capital increased from Rs. 231.91 crore to Rs. 296.48 crore.
Equity share count expanded by approximately 27.8% to a total of 29,64,75,285 shares.
The allotment is pursuant to the NCLT Ahmedabad Bench order pronounced on February 17, 2026.
💼 Action for Investors
Investors should evaluate the potential dilution of Earnings Per Share (EPS) given the 27.8% increase in share capital. Monitor the integration progress of the acquired business units to see if synergies offset the equity dilution.
Asian Granito Announces March 1, 2026 as Effective Date for Scheme of Arrangement
Asian Granito India Limited (ASIANTILES) has announced that its Composite Scheme of Arrangement has officially become effective as of March 1, 2026. This follows the filing of the certified NCLT order with the Registrar of Companies, Ahmedabad, completing the legal requirements under Sections 230-232 of the Companies Act. The scheme involves a restructuring process between Asian Granito India Limited, Adicon Ceramica Tiles Private Limited, and Adicon Ceramics Limited. This milestone marks the formal completion of the regulatory process for the corporate reorganization.
Key Highlights
Effective date of the Composite Scheme of Arrangement is confirmed as March 1, 2026.
The scheme involves Asian Granito India Ltd, Adicon Ceramica Tiles Pvt Ltd, and Adicon Ceramics Ltd.
Follows the final order from the NCLT Ahmedabad Bench dated February 17, 2026.
E-Form INC-28 filed with the Registrar of Companies on March 1, 2026, to finalize the legal process.
💼 Action for Investors
Investors should monitor upcoming corporate actions related to this scheme, such as the announcement of a record date for share entitlements or adjustments. The restructuring is expected to streamline the company's business segments.
Asian Granito Receives NCLT Approval for Composite Scheme of Arrangement
Asian Granito India Limited has received the certified true copy of the order from the Hon'ble NCLT, Ahmedabad Bench, regarding its Composite Scheme of Arrangement. The scheme involves the company along with Adicon Ceramica Tiles Private Limited and Adicon Ceramics Limited. This legal clearance, dated February 17, 2026, marks a major milestone in the company's corporate restructuring process. The receipt of the certified copy allows the company to proceed with the final implementation steps of the arrangement.
Key Highlights
Received certified true copy of the NCLT Ahmedabad Bench order dated February 17, 2026
Involves a Composite Scheme of Arrangement with Adicon Ceramica Tiles Private Limited and Adicon Ceramics Limited
Compliance filing completed under Regulation 30 of SEBI (LODR) Regulations, 2015
Follows the initial announcement of the NCLT order made on February 17, 2026
💼 Action for Investors
Investors should track the effective date of the scheme and look for updates on how this restructuring will impact the consolidated financials and operational efficiency. The move is likely aimed at streamlining the group structure.
Asian Granito Receives NCLT Approval for Composite Scheme of Arrangement
Asian Granito India Limited has received formal approval from the NCLT Ahmedabad Bench for its Composite Scheme of Arrangement involving Adicon Ceramica Tiles Private Limited and Adicon Ceramics Limited. The order was pronounced on February 17, 2026, following the company's petition filed under C.P. (CAA)/48(AHM)2025. This regulatory milestone clears the path for the planned corporate restructuring and consolidation within the group. Investors should expect the scheme to become effective once the final order is filed with the Registrar of Companies.
Key Highlights
NCLT Ahmedabad Bench approved the Composite Scheme of Arrangement on February 17, 2026.
The scheme involves the merger or restructuring of Asian Granito with Adicon Ceramica Tiles and Adicon Ceramics.
The approval follows the successful petition C.P. (CAA)/48(AHM)2025 in C.A. (CAA)/45(AHM)2025.
The restructuring is aimed at streamlining group operations and consolidating the ceramics business.
💼 Action for Investors
Investors should monitor the company's upcoming filings for the 'Effective Date' of the scheme and any updates on share swap ratios. This consolidation could lead to operational efficiencies and a cleaner corporate structure in the long term.
Asian Granito Q3FY26 Net Profit at ₹18.5 Cr; EBITDA Surges 210% YoY to ₹41 Cr
Asian Granito reported a strong turnaround in Q3FY26, with consolidated revenue growing 16% YoY to ₹424 crore. The company achieved a significant profit after tax of ₹18.49 crore, compared to a loss in the previous year, driven by a 210% surge in EBITDA. Improved margins were supported by a sharp reduction in fuel costs, with average gas prices dropping from ₹35.98 to ₹28.06 per scm. The sanitaryware segment showed robust growth of 49% YoY, while the company maintains a long-term revenue target of ₹6,000 crore.
Key Highlights
Consolidated Q3FY26 revenue increased 16% YoY to ₹424 crore, with 9MFY26 revenue reaching ₹1,219 crore.
EBITDA for the quarter jumped 210% YoY to ₹41 crore, with margins expanding by 603 bps to 9.62%.
Turned profitable with a PAT of ₹18.49 crore in Q3FY26 against a loss of ₹4.15 crore in Q3FY25.
Average natural gas costs declined significantly to ₹28.06/scm from ₹35.98/scm a year ago.
Sanitaryware segment revenue grew by 49% YoY to ₹35.09 crore, reflecting successful diversification.
💼 Action for Investors
The company's successful turnaround from losses to profitability and significant margin expansion due to lower input costs are highly positive. Investors should monitor the sustainability of these margins and the progress toward their ambitious ₹6,000 crore revenue vision.
Asian Granito Reports Robust 9MFY26 Net Profit of ₹43.83 Crore, Turning Profitable YoY
Asian Granito India Limited (AGL) reported a significant financial turnaround for 9MFY26, posting a consolidated net profit of ₹43.83 crore compared to a loss of ₹4.97 crore in the previous year. Consolidated net sales grew by 10.60% YoY to ₹1,219.10 crore, while EBITDA surged by 134.43% to ₹102.34 crore. The company's Q3FY26 performance was particularly strong, with net profit reaching ₹20.07 crore and EBITDA margins expanding by 603 basis points to 9.62%. This growth is attributed to buoyant demand in real estate and infrastructure, alongside improved operational efficiencies.
Key Highlights
9MFY26 Net Profit turned positive at ₹43.83 Crore versus a loss of ₹4.97 Crore in 9MFY25.
Consolidated EBITDA for 9MFY26 grew 134.43% YoY to ₹102.34 Crore, with margins improving by 443 bps to 8.39%.
Q3FY26 revenue increased 15.80% YoY to ₹423.93 Crore, with a quarterly net profit of ₹20.07 Crore.
Exports accounted for 15% of 9MFY26 turnover, with favorable US tariff reductions to 18% expected to boost future competitiveness.
The company completed a 26% stake acquisition in Allomex Steel Private Limited, making it an associate company.
💼 Action for Investors
Investors should view this turnaround as a strong positive signal of operational recovery and margin expansion. The stock may see interest due to the significant improvement in profitability and the potential for export growth following favorable trade agreements with the US and EU.
Asian Granito Q3 Net Profit Jumps to ₹4.45 Cr; Plans Vietnam Expansion
Asian Granito India Limited reported a standalone net profit of ₹4.45 crore for the quarter ended December 31, 2025, a significant increase from ₹1.13 crore in the year-ago period. Revenue from operations saw a modest rise to ₹268.42 crore compared to ₹257.99 crore YoY. The company's board has also given in-principle approval to establish a wholly-owned subsidiary in Vietnam to trade large format slabs. While the financial performance shows strong recovery, the company remains under a cloud regarding a 2022 Income Tax search operation currently under appeal.
Key Highlights
Standalone Net Profit surged to ₹445.18 lakhs in Q3 FY26 from ₹113.44 lakhs in Q3 FY25
Total Income for the nine-month period reached ₹817.21 crore, up from ₹799.64 crore YoY
Basic EPS for the quarter improved to ₹0.19 from ₹0.05 in the corresponding previous quarter
Approved the incorporation of a Foreign Wholly Owned Subsidiary in Vietnam for trading activities
Notes to accounts highlight an ongoing Income Tax search case from May 2022 with pending appeals
💼 Action for Investors
Investors should view the sharp profit turnaround and global expansion positively, but maintain caution regarding the unresolved tax litigation which could have an unascertainable impact.
Asian Granito Q3 Consolidated Net Profit Jumps to ₹3.85 Cr; Board Approves Vietnam Expansion
Asian Granito India reported a consolidated net profit of ₹3.85 crore for the quarter ended December 31, 2025, marking a substantial recovery from ₹0.13 crore in the year-ago period. Consolidated revenue for the quarter stood at ₹375.08 crore, showing marginal growth compared to ₹370.56 crore in Q3 FY25. The company announced plans to incorporate a subsidiary in Vietnam to trade large format slabs, signaling international expansion. However, the company continues to contest Income Tax department orders following a 2022 search, with the final financial impact still uncertain.
Key Highlights
Consolidated Net Profit surged to ₹3.85 crore in Q3 FY26 from ₹0.13 crore in Q3 FY25.
Nine-month consolidated revenue reached ₹1,120.29 crore compared to ₹1,114.61 crore YoY.
Board gave in-principle approval for a Wholly Owned Subsidiary in Vietnam for trading activities.
Standalone Profit Before Tax improved significantly to ₹6.80 crore from a loss of ₹1.56 crore YoY.
Unutilized Rights Issue proceeds of ₹5.00 crore are currently held in scheduled commercial banks.
💼 Action for Investors
The sharp YoY turnaround in profitability and international expansion plans are positive triggers; however, investors should track the outcome of pending tax appeals and sequential margin trends.
Asian Granito CFO Mehul Shah Resigns Effective January 28, 2026
Mr. Mehul Shah has resigned from his position as the Chief Financial Officer (CFO) and Key Managerial Personnel of Asian Granito India Limited. The resignation is effective from the close of business hours on January 28, 2026. The company stated that the departure is to pursue alternate career opportunities and confirmed there are no other material reasons for the resignation. Investors should monitor the company's plan for appointing a successor to ensure continuity in financial leadership.
Key Highlights
Mr. Mehul Shah resigned as CFO and Key Managerial Personnel effective January 28, 2026
Reason for resignation cited as pursuing alternate career opportunities
Company confirmed no other material reasons for the departure
The resignation was officially disclosed to BSE and NSE on January 28, 2026
💼 Action for Investors
Investors should watch for the announcement of a new CFO to assess the stability of the management team. While the resignation appears routine, leadership changes in the finance department warrant close observation of upcoming quarterly results.
Asian Granito Completes 26% Stake Acquisition in Allomex Steel; ASPL Becomes Associate Company
Asian Granito India Limited has successfully completed the acquisition of a 26% equity stake in Allomex Steel Private Limited (ASPL) on December 31, 2025. This transaction follows the initial proposal announced on December 3, 2025, and involves the purchase of shares from existing shareholders. Consequently, ASPL has now become an Associate Company of Asian Granito. This strategic investment marks a diversification or strengthening of the company's business ecosystem through equity participation.
Key Highlights
Acquisition of 26% paid-up equity share capital of Allomex Steel Private Limited completed on December 31, 2025
Allomex Steel Private Limited (ASPL) has officially become an Associate Company of Asian Granito India Limited
The acquisition was executed from existing shareholders as per the initial intimation dated December 3, 2025
Compliance fulfilled under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
💼 Action for Investors
Investors should monitor the upcoming quarterly results to understand the financial contribution of this associate company and look for management commentary on strategic synergies.
Asian Granito Completes Disposal of 25% Stake in AGL Proteins Private Limited
Asian Granito India Limited has successfully completed the disposal of a 25% equity stake in AGL Proteins Private Limited on December 31, 2025. This transaction follows the initial announcement made by the company on November 12, 2025. Consequently, AGL Proteins Private Limited has transitioned from its previous status to become an Associate Company of Asian Granito. This move represents a strategic shift in the company's investment portfolio and capital structure.
Key Highlights
Completed the disposal of 25% of the paid-up equity share capital of AGL Proteins Private Limited.
The transaction was finalized on December 31, 2025, in line with SEBI Listing Regulations.
AGL Proteins Private Limited has officially become an Associate Company of Asian Granito India Limited.
The divestment follows a prior board-level intimation dated November 12, 2025.
💼 Action for Investors
Investors should monitor the company's upcoming quarterly results to understand the financial impact of this stake sale and how the proceeds are being utilized. The reclassification to an Associate Company will change how AGL Proteins' financials are reflected in Asian Granito's consolidated statements.
Asian Granito to acquire 26% stake in Allomex Steel for ₹26,000
Asian Granito India Limited will acquire a 26% stake in Allomex Steel Private Limited (ASPL) for ₹26,000. The investment will allow Asian Granito to enter into related building material products and support its overall growth plans. ASPL was newly incorporated on August 27, 2025, and its paid-up equity share capital is ₹1,00,000. The acquisition is expected to be completed within 2 months and is considered a related party transaction as directors of Asian Granito are also shareholders and directors of ASPL.
Key Highlights
Acquiring 26% equity stake in Allomex Steel Private Limited
Consideration for acquisition is ₹26,000
Allomex Steel Private Limited was incorporated on 27 August, 2025
Paid-up equity share capital of Allomex Steel Private Limited is ₹1,00,000
💼 Action for Investors
Investors should monitor the progress of the acquisition and its impact on Asian Granito's diversification strategy. Keep an eye on how this acquisition contributes to the company's growth in the building materials sector.
ASIANTILES to acquire 26% stake in Allomex Steel Private Limited
Asian Granito India Limited (ASIANTILES) has announced the acquisition of 26% of the paid-up equity share capital of Allomex Steel Private Limited (ASPL). The Board approved this proposal at its meeting held on December 3, 2025. The consideration for this acquisition is ₹26,000 for acquiring 2600 equity shares at ₹10 each. This investment will allow the company to diversify and strengthen its position in the building materials sector.
Key Highlights
Acquiring 26% equity stake in Allomex Steel Private Limited
Consideration of ₹26,000 for the acquisition
Allomex Steel Private Limited's paid-up equity share capital is ₹1,00,000
Acquisition is expected to be completed within 2 months
💼 Action for Investors
Investors should monitor the progress of this acquisition and its impact on ASIANTILES' diversification strategy. Keep an eye on how this acquisition contributes to the company's growth in the building materials sector.