Date: 11 August, 2026

Board Meeting Outcomes

The Board of Directors meeting held on 11 August, 2026 (3:30 PM to 5:00 PM) approved:

  • Unaudited Financial Results (Standalone and Consolidated) for the quarter ended 30 June, 2026
  • Limited Review Reports of the Statutory Auditors

This is pursuant to Regulation 33(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Results (Standalone)

Quarter Ended 30 June, 2026 (~ in Lakhs):

  • Revenue from Operations: 27,776.57
  • Other Income: 61.00
  • Total Income: 27,837.57
  • Total Expenses: 27,501.42
  • Profit Before Tax: 336.15
  • Tax Expense: 112.30
  • Net Profit for the period: 223.85
  • Other Comprehensive Income: 8.25
  • Total Comprehensive Income: 232.10
  • Basic EPS: ₹0.08
  • Diluted EPS: ₹0.08

Comparison with Previous Periods:

  • Revenue decreased from ₹29,458.27 lakhs in Q4 FY2026 and increased from ₹25,963.66 lakhs in Q1 FY2026
  • Net profit improved from a loss of ₹(1,425.50) lakhs in Q4 FY2026 but decreased from profit of ₹524.60 lakhs in Q1 FY2026

Financial Results (Consolidated)

Quarter Ended 30 June, 2026 (~ in Lakhs):

  • Revenue from Operations: 53,094.98
  • Other Income: 144.67
  • Total Income: 53,239.65
  • Total Expenses: 52,258.22
  • Profit Before Tax: 981.43
  • Tax Expense: 173.79
  • Net Profit for the period before share of profit/(loss) of associate: 807.64
  • Share of Loss of Associate: (0.58)
  • Net Profit for the period after share of profit of associate: 807.06
  • Total Comprehensive Income: 820.61
  • Net Profit attributable to Owners: 813.27
  • Basic EPS: ₹0.27
  • Diluted EPS: ₹0.27

Comparison with Previous Periods:

  • Revenue decreased slightly from ₹53,849.50 lakhs in Q4 FY2026 but increased significantly from ₹41,315.32 lakhs in Q1 FY2026
  • Net profit attributable to owners showed remarkable improvement from a loss of ₹(3,188.94) lakhs in Q4 FY2026

Standalone Financial Results:

  • Auditor: R R S & Associates, Chartered Accountants (FRN No.: 118336W)
  • Opinion: Unmodified review opinion
  • Emphasis of Matter: Note 9 regarding Income Tax search operation on 26 May 2022
  • Various orders received and appeals filed
  • Impact on financial results not ascertainable pending finalization of appeals

Consolidated Financial Results:

  • Same auditor and opinion type as standalone
  • Emphasis of Matter: Note 10 regarding same Income Tax search operation
  • Scope Limitations:
  • Did not review interim financial results of 3 subsidiaries representing:
  • Total revenue: ₹6,888.11 lakhs
  • Net profit after tax: ₹114.85 lakhs
  • Total comprehensive income: ₹114.85 lakhs
  • Relied on other auditors' reports for these subsidiaries
  • 9 subsidiaries not reviewed by their auditors representing:
  • Total revenue: ₹2,891.65 lakhs
  • Profit after tax: ₹315.81 lakhs
  • Total comprehensive income: ₹315.81 lakhs
  • 1 associate outside India not reviewed representing share of loss after tax of ₹0.58 lakhs

Significant Notes to Financial Results

Note 4: Right Issue Proceeds Utilization

  • Proceeds received: ₹42,217.46 lakhs (after deduction of ₹1,879.00 lakhs expenses)
  • Expenses adjusted with security premium account (not debited to P&L)
  • Full utilization of proceeds as per revised objects:
  • Funding capital expenditure for new manufacturing units: ₹21,862.80 lakhs
  • Working capital requirements: ₹3,000.00 lakhs
  • Display centre cum office: ₹7,380.15 lakhs
  • Stock point for trading business: ₹500.00 lakhs
  • General corporate purpose: ₹9,474.51 lakhs

Note 5: Scheme of Arrangement (Scheme 1)

  • Approved by Board on 12 August, 2023
  • NCLT Ahmedabad Bench order dated 12 June, 2025
  • Effective Date: 1 July, 2025 (filed with ROC)
  • Appointed Date: 16 October, 2023
  • Components:
  • Part III: Transfer of Marble & Quartz undertaking to AGL Industries Limited (WOS)
  • Part II: Transfer of Manufacturing undertakings from three companies to three resulting companies
  • Issued 3,32,08,905 shares to Demerged Company 1 shareholders
  • Issued 3,19,33,333 shares to Demerged Company 2 shareholders
  • Issued 1,97,24,095 shares to Demerged Company 3 shareholders
  • Part IV: Amalgamation of Amazoone Ceramics Limited and AGL Industries Limited
  • Issued 11,95,739 Optionally Convertible Preference Shares of ₹100 each

Note 6: Scheme of Arrangement (Scheme 2)

  • Approved by Board on 12 August, 2023
  • NCLT Ahmedabad Bench final order dated 17 February, 2026
  • Effective Date: 1 March, 2026
  • Appointed Date: 16 October, 2023
  • Allotment of 6,45,63,636 equity shares (face value ₹10 each) to eligible shareholders of Demerged Company
  • Paid-up equity share capital increased from ₹23,191.16 lakhs (23,19,11,649 shares) to ₹29,647.53 lakhs (29,64,75,285 shares)
  • Listing approvals received from BSE and NSE on 30 March, 2026
  • Trading approvals received on 8 April, 2026

Note 7: Interest Income Reversal

  • Reversal of nine-month interest income previously recognized up to 31 December, 2025: ₹1,339.29 lakhs
  • Resulted in negative 'Other Income' at standalone level for Q4 FY2026
  • No impact on consolidated financial results (intra-group transaction)

Note 9/10: Income Tax Search Proceedings

  • Search operation conducted at company's business premises on 26 May, 2022
  • Various notices received from Income Tax Department
  • Appeals filed against various orders
  • Management believes no material impact on financial position as of 30 June, 2026
  • Final outcome remains uncertain

Note 10/11: Operational Challenges

  • Q4 FY2026 results affected by:
  • Anti-dumping duty by US Government leading to temporary closure of Quartz plant for two months
  • West Asia conflict causing gas supply shortage and temporary plant shutdowns in Morbi
  • Current quarter impacted by increased gas prices affecting profitability
  • Operations resumed in current quarter (Q1 FY2027)

Corporate Structure

The consolidated results include the following entities:

  • Asian Granito India Limited (Parent)
  • 17 subsidiaries including AGL Industries Limited, Crystal Ceramic Industries Limited, Adicon Ceramics Limited, etc.
  • 1 associate: Nepovit Ceramic Private Limited

Implementation of Labour Codes

The Group has implemented the four Labour Codes notified by Government of India effective from 21 November, 2025:

  • Code on Social Security, 2020
  • Occupational Safety, Health and Working Conditions Code, 2020
  • Industrial Relations Code, 2020
  • Code on Wages, 2019