Asian Granito India Ltd

"MILESTONES INVITE REFLECTION. AT 25 YEARS, WE LOOK BACK WITH HUMILITY AT THE DISTANCE TRAVELLED; AND FORWARD WITH QUIET DETERMINATION TO THE POSSIBILITIES THAT LIE AHEAD."

Dear Shareholders,

It fills me with immense pride to ink my thoughts before you as we celebrate the Silver Jubilee of our company—a 25-year journey defined by commitment, innovation and trust. This milestone is not merely a marker of time, but a testament to our enduring legacy.

What began with humble aspirations and steadfast resolve has evolved into a remarkable success story. Today, we proudly count ourselves among the top five national brands—a reflection of our resilience, pioneering spirit and the resolute support of those who placed their faith in us.

From a single kiln tucked in one corner of Western India, we have progressed into a global presence across 100+ nations offering premium tiles, marble, quartz, bathware and sanitaryware solutions. Our journey wasnRst a straight line—it was shaped by bold adaptation, continuous reinvention and an enduring drive to lead in a constantly evolving marketplace.

Our journey has been one of relentless adaptation. I believe we have been among the most agile learners in the domestic tile sector—constantly evolving, absorbing insights and enhancing our capabilities, with the singular aim of creating exceptional value for all our stakeholders.

We began manufacturing tiles for the domestic market, with a strong foothold in Western India. Demand surged quickly and we faced the need for rapid expansion. Building new plants would have slowed our momentum and burdened us with debt. Instead, we embraced an asset-light strategy—a bold shift that proved transformative. Since then, our capacity has grown exponentially, fueling our continued rise.

As competition intensified, we mastered the art of cost optimisation and value creation. We adopted a dual strategy rooted in our core strengths and capabilities. Recognising our outsourcing partnersRs expertise in cost-e_ective production, we entrusted them with manufacturing our low-end products. Simultaneously, we leveraged our refined aesthetic sensibilities and mature design capabilities to focus our in-house facilities on producing premium, large-format tiles. This focused strategy has delivered consistently gratifying results.

With growing success in the Indian market, our aspirations took on a global dimension. We entered complex, fiercely competitive international arenas—not against domestic rivals, but alongside established global giants. Rather than taking the easy route, we consciously chose to build our presence in dynamic yet demanding regions such as the US, UK, Middle East and Southeast Asia. Because success here would truly establish the AGL brand as a global brand. What truly differentiated us was our strategy of embedding local expertise in each region (registered companies in those nations), allowing us to anticipate market trends and customer preferences with agility and insight.

While expanding our global footprint, we simultaneously focused on enhancing brand recall within the domestic market. To this end, we appointed acclaimed Bollywood actor Ranbir Kapoor as our offcial brand ambassador. Recognised for his versatility and strong resonance with younger audiences, he embodies the brandRss spirit of innovation, contemporary appeal and forward-looking momentum.

The cumulative impact of numerous bold and thoughtful initiatives has translated into tangible improvements across key performance metrics. Despite FY25 being an exceptionally challenging year for the entire tiles and bathware industry, we delivered strong growth, outpacing many of our peers and reafirming the strength of our strategy and execution.

As I reflect on our journey, I am filled with deep gratitude for everyone who has been a part of this remarkable and exhilarating ride. Your unwavering support has been instrumental—none of this would have been possible without you.

This year marks a pivotal chapter in our story. As we celebrate a rich legacy, we are also redefining our path for the next 25 years. Much of our early progress came from seizing low-hanging fruit; the road ahead will demand greater resolve. To navigate the increasingly complex landscape, we must match hard work with strategic agility. Sustaining our momentum will require us to anticipate trends, outpace the curve and operate with sharper focus and smarter execution.

By the time we mark our Golden Jubilee, our goal is to become the second-largest player in IndiaRss tile industry. To achieve this, we will pursue every opportunity with determination and strategic focus to ascend the industry ranks.

In the domestic market, our focus is on achieving a well-calibrated balance between retail and institutional segments. To strengthen our retail footprint, we plan to double the number of our large-format, exclusive showrooms—spaces designed to captivate with their aesthetics and deliver an immersive, premium buying experience. Moreover, I take great pride in our institutional business, particularly the esteemed clientele we are privileged to serve. Our dedicated business development team will continue to deepen relationships and expand this strong foundation.

In parallel, we will intensify our branding initiatives. Our presence is already strong across cinemas, high-profile national sporting events and high-tra_c locations. We aim to expand this reach further by building on these platforms and exploring additional innovative avenues.

Our international business is a strategic growth pillar. We are committed to establishing expansive, experiential showrooms backed by integrated warehouse networks—ensuring both immersive brand exposure and prompt delivery across key global markets.

Further, we are undertaking a bold digital transformation. By migrating all operations to a robust, ERP platform, we will unlock end-to-end integration, real-time data precision and agile decision-making. This shift isnRst just about efficiency—itRss about empowering our teams to think faster, act smarter and lead from the front in a dynamic global landscape.

Ultimately, our most defining investment lies in people. Succession planning will be a strategic priority as we prepare the next generation of leaders—across both Board and Executive levels—to shape our future.

We are committed to identifying high-potential talent from within and fast-tracking their development through immersive, cross-functional experiences. This will give them a 360-degree perspective of our business, from operational intricacies to strategic foresight.

By empowering them with real decision-making authority, weRsre not just preparing leaders—weRsre igniting a culture of innovation, ownership and future-readiness that will propel the Company into its next phase of transformative growth.

In a year that asked for balanced judgment more than headline heroics, the commitment of our employees, the patience of our partners and the confidence of our shareholders stood out. To each of you, I offer sincere thanks.

A companyRss twenty-fifth year is often described as the threshold of maturity. For us, maturity must remain synonymous with curiosity: curiosity about new ideas, digital engagement and emerging consumer sentiment. It is that mindset that will carry Asian Granito into the next twenty-five years—quietly, steadily and always in conversation with those we serve.

Warm regards,

Chairman and Managing Director