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Last Updated : Jul 23, 2019 10:29 AM IST | Source: CNBC-TV18

Expect Rs 1,000 cr worth of revenue in FY17: Asian Granito

The anti-dumping duty levied by the government on Chinese tiles is below expectations and is only a temporary relief for the industry, says Himanshu Shah, CFO, Asian Granito.

Asian Granito has recently won 12 lakh square meter order. Speaking to CNBC-TV18, Himanshu Shah, CFO of the company, said it will execute the whole order in 3 months (Q1FY17).

He is targeting the company's revenue to grow to Rs 1,000 crore in FY17 and expects lower fuel costs to aid margin expansion to 15-16 percent from the current 7.5 percent.

Shah is of the view that the anti-dumping duty levied by the government on Chinese tiles is below expectations and is only a temporary relief for the industry.

He also commented on the company's shareholding structure, saying Ashok Kajaria, chairman and MD of Kajaria Ceramics, holds around 5 percent stake in Asian Granito via his personal investment companies.

Below is the verbatim transcript of Himanshu Shah\'s interview with Latha Venkatesh & Sonia Shenoy on CNBC-TV18.

Latha: You are going in for an expansion?

A: No, in the short-term we are not having any expansion plans. However, in one of our subsidiary company, we recently did an expansion for double charge vitrified tiles and we have launched the product in the north and south region.

Sonia: Can you tell us more about 12 lakh square meter order that you won? When will the money start to come in and how much are you expecting in terms of revenues in the first year?

A: We have already made an expansion and the production started in the month of April \\'16. The order is already in place. Hence, within three months we will be able to dispatch 12 lakh square meter order.

Sonia: What are the margins that you are enjoying on this order because in FY16 your margins were around 7.5 percent? What margins would you enjoy on this order?

A: This product is exclusively from our Mehsana based plant, which is our subsidiary company. We are expecting about 15-16 percent EBITDA margin from this order booking.

Watch accompanying video for entire interview..

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First Published on Jun 8, 2016 09:17 am
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