Asian Granito India is a well-known ceramic, vitrified tile, marble and quartz company. The company declared its Q2FY16 numbers and they were no sparkling stars there. Net sales for the quarter rose 9% (YoY) at Rs.235 and net profit was at Rs.4.5 crore, up from Rs.4 crore in previous Q2. EBITDA slipped 5% to Rs.16.55 crore on account of muted increase in topline and costs rising 10%. Margins were down marginally from 7.33% to 7.03%.  Its net profit for H1Fy16 was at Rs.8 crore, which is 54% of FY15 net profit.

Asian Granito is the fifth largest tile maker in India and it had come out with an IPO in 2007, at a price of Rs.97. Annualised EPS is at Rs.7. Market cap stands at around Rs.370 crore. Debt (LT+ST borrowings) stands at Rs.169 crore. Promoter’s stake is at Rs.37.52%, FIIs have a 2.57% stake and DII holding is miniscule at 0.05%.