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Asian Granito to add Rs 1 bn sales via new tie up
Source: IRIS | 31 Mar, 2014, 04.56PM
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Asian Granito India (AGL) has new tie up for introducing higher-end double charge tiles. The company expects to generate revenues of around Rs 1 billion in FY 2014-15 from this tie up. Further, it will target the premium tiles market worth Rs 10 billion through this launch.
 
Commenting on the new tie up, Kamlesh Patel chairman & managing director of Asian Granito (Q,N,C,F)* India said, ''Double Charge Tiles range is our latest offering to the market. It is our initiative of staying with the latest trend and introducing better products each and every time. Double Charge tiles are more durable, aesthetically advanced and reasonable at the same time. We will be able to produce 7,000 sq. mtrs of Double Charge tiles per day with this new tie up.''
 
Double Charge tiles offer an aesthetic look, uniformity in the design and also give the natural granite or marble feeling. Also the tiles have less open porosity due to micronised powder on the surface. Designs are embedded along with raw materials, which makes Double Charge tiles last much longer than normal tiles.

AGL has focused on constant product innovation and has kept pace with rapidly changing technologies in the industry.
 
''Earlier these tiles were imported mostly from China but looking at the huge opportunity in domestic market, we launch the same. Further, looking at demand for this product we are also planning to double the capacity of Double Charge tiles to 14,000 sq. mtrs in next 2-3 years and introducing the same in larger formats of 800 x 800 mm, 800 x 1200 mm, 1000 x 1000 mm too. In the next three years, the company is confident to achieve sales in excess of Rs. 250 crore of double charge tiles,'' said Patel.
 
He further added that, ''Tiles industry is upgrading from soluble salt tiles (SST) to Double Charge tiles. In the last decade, the tiles industry has evolved into a more organised market with new users emerging in various industries. Competition and affordability have transformed the industry and tiles have become a fashion product and its application areas have undergone a tremendous change. Printing technology too has transformed dramatically as digital printing has opened up new avenues for the tiles industry.''

Shares of the company gained Rs 0.8, or 3.13%, to settle at Rs 26.40. The total volume of shares traded was 964 at the BSE (Monday).

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