Crystal Ceramics Industries, a material subsidiary of Asian Granito India Limited (AGIL), has invested Rs 25 crore for capacity expansion at its Mehsana Plant in Gujarat.
This capacity addition to increase the total capacity of Crystal Ceramics to 36,000 SQMTS/day, the company said in its filing. Asian Granito is holding 70 per cent of equity in Crystal Ceramics Industries.
Crystal Ceramics Industries has completed 12,000 SQMTS/days of Glazed Vitrified Tiles brown field capacity expansion at its Meshana Plant.
Crystal Ceramics is planning to manufacture large format 600X1200 mm GVT tiles for domestic and export markets with this expansion. “Crystal Ceramics Industries Limited has invested Rs 25 crore for this expansion. This strategic brownfield expansion was planned keeping in mind low cost natural gas benefits at Crystal Ceramics, which helps the company to further reduce its manufacturing cost.”
Crystal Ceramics reported turnover of Rs 184.45 crores in FY 21. The capacity addition of 12,000 SQMTS/day will add incremental sales of around Rs 70-75 crore in Crystal Ceramics and Asian Granito India Limited consolidated turnover.
AGIL has reported consolidated turnover of Rs 1,292.30 crore in FY21. "With this capacity expansion, Asian Granito on a consolidated basis will further improve its market share in the domestic and export market," the company stated.
