Asian Granito India
Ltd is in the process to enter into joint venture with a local partner to establish 10,000 meters per day of glaze vitritied tile manufacturing unit in Andhra Pradesh.
As of December 31, 2017, Asian Granito had a total glaze vitritied tile capacity of 22,000 sq.m/day. The contribution of value added products such as glaze vitritied tile and double charge tiles is 45% to revenue, as of Q3FY18. The company expects to raise the total contribution of value added products to 50% by FY21.
Asian Granito India Ltd ended at Rs471.50 up by Rs0.6 or 0.13% from its previous closing of Rs470.90 on the BSE. The stock traded below its 50 DMA.