Asian Granito up over 3.5%

Asian Granito India, a well known ceramic, vitrified tile, marble and quartz company, had been in action a week ago – hitting the upper circuit and a new high at Rs.180.70. Today too there is some buzz on the counter with the stock trading strongly in the green at Rs.168, up 3.5%. Intra day high is at Rs.171.60. Volumes though remained muted.

The company declared its Q2FY16 numbers yesterday 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.