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Friday, August 7, 2009

Asian Granito India Ltd:-Future growth prospects and outlook

Scripscan:Asian Granito India Ltd

Story:Promoted by Kamleshbhai Patel, Mukeshbhai Pate and Vinodbhai Patel, Asian Granito India manufactures vitrified tiles.The company is the second largest domestic producer of vitrified tiles.From 1 July 2007, China has reduced the export subsidy for producer of vitrified tiles to 3%, from 8% earlier. This has improve competitiveness of domestic vitrified manufacturers compared with importers of vitrified tiles who have received antidumping exemption.The company has commenced the commercial production of its new Wall Tile Plant from January 2008 and also modernized and expanded its existing Vitrified Plant. Due to the modernization and expansion, the production capacity of the Vitrified Tile plant has increased to 16,000 sq. mtrs. per day from 14,000 sq. mtrs. per day. The Company has achieved production capacity of 9,300 sq mtrs per day at the new Wall Tiles Plant. With the increase in the production capacity and better utilization of resources, It has achieved 96.61% capacity utilization in Vitrified Tile Plant.The future prospects of the company looks good and with the economy slowly turnarounding these are the counters which may bring cheers to investors portfolio.At 30 odd merits an investment.

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