A wholly owned subsidiary of Asian Granito performed the plant’s ground-breaking ceremony on the auspicious day of the Rathyatra on July 1.
About Rs. 174 crore, the plant is estimated to cost Rs. It is likely to generate revenue of Rs 300 crore
Ahmedabad: Future Ceramic Pvt Ltd, a wholly owned subsidiary of Asian Granito India Limited, one of India’s largest luxury surfaces and bathwear solutions brands, has started operations at its Large Format Glazed Vitrified Tiles (GVT) plant at Morbi.
The land acquisition of the plant was completed in May, 2022. The ground breaking ceremony of the plant was held on July 1, 2022, the auspicious day of the Rathyatra.
Future Ceramic Pvt. Ltd. is a value added large format GVT tile plant in 1200 x1200 mm, 1200 × 1800 mm, 1200 × 2400 mm, 800 × 1600 mm and 800 × 2400 mm formats to produce huge potential in GVT space. The installed capacity of the plant is 6.60 million square meters annually. The total estimated cost for setting up the unit is about Rs. 174 crores. After reaching the maximum capacity, about Rs. Revenue of Rs 300 crore is expected.
Commenting on this, Mr. Kamlesh Patel, Chairman and Managing Director, Asian Granito India Ltd., said, “The company is progressing as per the stipulated growth roadmap and we are committed to complete all our expansion on or before the deadline.
With the commercialization of the proposed plans, AGL expects to strengthen its position as an Integrated Luxury Surfaces and Bathwear Solutions brand and further strengthen the group’s margin profile in the near to medium term.
The company’s Enhanced Strategic Integration Program (ESIP) aims to expand margins and place the company ahead in the league table of luxury surfaces and bathware solutions players. Expansion plans cost the company Rs. 6,000 crore will take him closer to his vision.
The expansion of Future Ceramic Pvt. Ltd. is part of the massive expansion plan of Asian Granito India Ltd. for which it has raised Rs. 441 crore have been collected.
Under this massive expansion plan, Asian Granito plans to set up three state-of-the-art manufacturing plants at Morbi in Gujarat in the value-added luxury surfaces and bathware segments, including GVT tiles, sanitaryware and SPC flooring.
The company is also setting up one of the largest display centers in India at Morbi. In May, 2022, Future Ceramic Pvt. Ltd. completed the necessary procedures by acquiring 69,506 square meters of land for the expansion of the GVT unit.