Asian Granito India logo

Asian Granito India MD, chairman, board of directors and AGM

NSE: ASIANTILESBSE: 532888Consumer DurablesSmall Cap

Last close ₹45.09down ₹1.59 (3.41%)BSE ₹45.10

Share price at the NSE close on 23 Oct 2026. Previous close ₹46.68.

52-week range of traded prices to 23 Oct 2026
₹42.50Low, 22 Jul 2026₹79.06High, 21 Apr 2026
Market cap
₹1,337 Cr1,256th largest listed
P/E
Earlier quarters restated in the year
P/B
0.9
Dividend yield
Nonein the last 12 months
ROCE
1.6%
Debt to equity
0.28
Volume, NSE
11,74,98050.8% delivered

Asian Granito India board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorKAMLESHKUMAR BHAGUBHAI PATELRelated to the promoter
  • Managing directorMUKESHBHAI JIVABHAI PATEL
  • Company Secretary and Compliance OfficerDHRUTI TRIVEDI

10 directors5 independent5 executive

  • KAMLESHKUMAR BHAGUBHAI PATEL · Chairperson and managing directorExecutive · joined Sep 2002 · reappointed Jan 2024 · 1 listed board · 2 committee seats
  • MUKESHBHAI JIVABHAI PATEL · Managing directorExecutive · joined Sep 2002 · reappointed Apr 2024 · 1 listed board
  • SURESHBHAI JIVABHAI PATELExecutive · joined May 2011 · 1 listed board
  • BHAVESHKUMAR VINODBHAI PATELExecutive · joined May 2011 · 1 listed board
  • BHOGILAL BHIKHABHAI PATELExecutive · joined May 2011 · 1 listed board
  • HEMENDRAKUMAR CHAMANLAL SHAHIndependent · joined Mar 2017 · reappointed Mar 2022 · 114 months as independent · 3 listed boards · 3 as independent · 3 committee seats
  • MUKESH MAHENDRABHAI SHAHIndependent · joined Nov 2018 · reappointed Nov 2023 · 94 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
  • MAGANLAL JOITABHAI PRAJAPATIIndependent · joined May 2021 · reappointed May 2026 · 64 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • KANDARP GAJENDRA TRIVEDIIndependent · joined Jun 2021 · reappointed Jun 2026 · 63 months as independent · 1 listed board · 1 as independent · 3 committee seats, 3 as chair
  • DIXIT YASHREE KAUSHALBHAIIndependent · joined Aug 2023 · reappointed Aug 2023 · 38 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 11 Aug 20269 of 10 present4 independent · 26 days in between
    • 15 Jul 202610 of 10 present5 independent · 45 days in between
    • 30 May 202610 of 10 present5 independent

  • Audit Committee

    Chair KANDARP GAJENDRA TRIVEDI

    MAGANLAL JOITABHAI PRAJAPATI, KAMLESHKUMAR BHAGUBHAI PATEL

    • 11 Aug 20263 of 3 present2 independent · 26 days in between
    • 15 Jul 20263 of 3 present2 independent · 45 days in between
    • 30 May 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair MUKESH MAHENDRABHAI SHAH

    KANDARP GAJENDRA TRIVEDI, HEMENDRAKUMAR CHAMANLAL SHAH, KAMLESHKUMAR BHAGUBHAI PATEL

    • 30 May 20264 of 4 present3 independent

  • Stakeholders Relationship Committee

    Chair KANDARP GAJENDRA TRIVEDI

    KAMLESHKUMAR BHAGUBHAI PATEL, HEMENDRAKUMAR CHAMANLAL SHAH

    • 11 Aug 20263 of 3 present2 independent · 72 days in between
    • 30 May 20263 of 3 present2 independent

  • Risk Management Committee

    Chair MUKESHBHAI JIVABHAI PATEL

    KAMLESHKUMAR BHAGUBHAI PATEL, KANDARP GAJENDRA TRIVEDI

    • 11 Aug 20263 of 3 present1 independent · 72 days in between
    • 30 May 20263 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair KAMLESHKUMAR BHAGUBHAI PATEL

    MUKESHBHAI JIVABHAI PATEL, DIXIT YASHREE KAUSHALBHAI

    • 11 Aug 20263 of 3 present1 independent · 72 days in between
    • 30 May 20263 of 3 present1 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • R R S & ASSOCIATESPeer-review certificate valid to Jun 2028

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Asian Granito India AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Asian Granito India dividend history

Annual general meeting, 9 Sep 2026

85,583 shareholders on the register on 2 Sep 2026; present: 20 promoters and 57 others; votes counted by Mr. Rajesh Parekh / M/s. Rajesh Parekh & Co..The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidate Financial Statements including the Audited Balance Sheet, the Statement of Profit and Loss for the financial year ended on that date and reports of the Board of Directors and Auditors thereon for the financial year ended 31 March, 2026.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 40.17% · promoters 91.24% · institutions 16.28% · other public 8.49%

  2. To appoint a director in place of Mr. Bhaveshkumar Vinodbhai Patel (DIN: 03382527), Director, who retires by rotation and being eligible offers himself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.34% for0.66% against

    Against: promoters 0.00% · institutions 73.41% · other public 0.02%

    Turnout: all 33.86% · promoters 74.70% · institutions 16.65% · other public 8.46%

  3. Re-appointment of Mr. Kamleshkumar Bhagubhai Patel (DIN: 00229700) as a Chairman and Managing Director.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 33.72% · promoters 74.30% · institutions 16.65% · other public 8.49%

  4. Re-appointment of Mr. Mukeshbhai Jivabhai Patel (DIN: 00406744) as a Managing Director.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 27.63% · promoters 58.31% · institutions 16.65% · other public 8.49%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 22 May 2026, 2 resolutions

77,999 shareholders on the register on 17 Apr 2026; votes counted by Mr. Rajesh Parekh / M/s. Rajesh Parekh & Co..The company's voting result (opens in a new tab)

  1. RE-APPOINTMENT OF MR. MAGANLAL PRAJAPATI (DIN: 00564105) AS AN INDEPENDENT DIRECTOR.
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.41%

    Turnout: all 39.77% · promoters 85.46% · institutions 7.11% · other public 11.01%

  2. RE-APPOINTMENT OF MR. KANDARP GAJENDRA TRIVEDI (DIN: 00314065) AS AN INDEPENDENT DIRECTOR
    Special
    99.94% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 39.77% · promoters 85.46% · institutions 7.11% · other public 11.01%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Meeting called by the tribunal, 19 Sep 2025, 1 resolution

87,835 shareholders on the register on 3 Sep 2025; present: 17 promoters and 27 others; votes counted by NEHA LAKHANPAL / NOT APPLICABLE.The company's voting result (opens in a new tab)

  1. Approval of the Composite Scheme of Arrangement involving Demerger between Asian Granito India Limited, Adicon Ceramica Tiles Private Limited and Adicon Ceramics Limited and their respective shareholders and CreditorsMoreLess
    SpecialPromoters have an interest in it
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.21%

    Turnout: all 57.47% · promoters 96.96% · institutions 9.46% · other public 38.12%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 6 Aug 2025, 6 resolutions

89,560 shareholders on the register on 30 Jul 2025; present: 15 promoters and 35 others; votes counted by Rajesh Parekh / Rajesh Parekh & Co.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidate Financial Statements including the Audited Balance Sheet, the Statement of Profit and Loss for the financial year ended on that date and reports of the Board of Directors and Auditors thereon for the financial year ended 31 March, 2025.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 34.38% · promoters 90.15% · institutions 8.52% · other public 6.30%

  2. To appoint a director in place of Mr. Sureshbhai Jivabhai Patel (DIN: 00233565) Director, who retires by rotation and being eligible offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.29%

    Turnout: all 34.39% · promoters 90.15% · institutions 9.35% · other public 6.30%

  3. To appoint M/s. RPAP & Co., Company Secretaries (Firm Registration No. P2019GJ078500), as Secretarial Auditors of the Company for the term of 5 (Five) consecutive years
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.31%

    Turnout: all 34.39% · promoters 90.15% · institutions 9.35% · other public 6.30%

  4. To approve revision in remuneration of Mr. Sureshbhai Jivabhai Patel (DIN: 00233565), Director of the Company
    SpecialPromoters have an interest in it
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.89%

    Turnout: all 23.73% · promoters 58.30% · institutions 9.35% · other public 6.30%

  5. To approve revision in remuneration of Mr. Bhaveshkumar Vinodbhai Patel (DIN: 03382527), Director of the Company
    SpecialPromoters have an interest in it
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.89%

    Turnout: all 28.83% · promoters 73.55% · institutions 9.35% · other public 6.30%

  6. To approve revision in remuneration of Mr. Bhogilal Bhikhabhai Patel (DIN: 00300345), Director of the Company
    SpecialPromoters have an interest in it
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.89%

    Turnout: all 33.26% · promoters 86.77% · institutions 9.35% · other public 6.30%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Meeting called by the tribunal, 17 Dec 2024, 1 resolution

Present: 5 promoters and 40 others.The company's voting result (opens in a new tab)

  1. Approval of the Scheme of Arrangement involving Demerger, Slump Sale as well as Amalgamation between Asian Granito India Limited, Affil Vitrified Private Limited, Ivanta Ceramics Industries Private Limited, Crystal Ceramic Industries Limited, Affil Ceramics Limited, Ivanta Ceramic Limited, Crystal Vitrified Limited, Amazoone Ceramics Limited and AGL Industries Limited and their respective shareholders and creditorsMoreLess
    SpecialPromoters have an interest in it
    95.30% for4.70% against

    Against: promoters 0.00% · institutions 100.00% · other public 5.21%

    Turnout: all 44.74% · promoters 100.00% · institutions 88.42% · other public 14.87%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 6 Aug 2024, 6 resolutions

Present: 5 promoters and 47 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidate Financial Statements as at 31 March, 2024 including the Audited Balance Sheet as at 31 March, 2024, the Statement of Profit and Loss for the financial year ended on that date and reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.73%

    Turnout: all 30.40% · promoters 98.21% · institutions 1.45% · other public 3.08%

  2. To appoint a director in place of Mr. Bhogilal Bhikhabhai Patel (DIN: 00300345), Director, who retires by rotation and being eligible offers himself for re-appointment.
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.54%

    Turnout: all 30.41% · promoters 98.21% · institutions 1.45% · other public 3.09%

  3. Re-appointment of Statutory Auditors of the Company.
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.83%

    Turnout: all 30.41% · promoters 98.21% · institutions 1.45% · other public 3.09%

  4. To consider and approve increase in Authorised Share Capital of the Company from Rs. 1,50,00,00,000/- to Rs. 3,20,00,00,000/- and alter Memorandum of Association accordingly.
    Ordinary
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.73%

    Turnout: all 30.39% · promoters 98.21% · institutions 1.45% · other public 3.10%

  5. To consider and approve the material related party transaction(s) proposed to be entered into by the Company during the financial year 2024-25 and to pass, with or without modification(s), the following resolution as an Ordinary Resolution.MoreLess
    Ordinary
    95.85% for4.15% against

    Against: promoters 0.00% · institutions 100.00% · other public 5.24%

    Turnout: all 7.99% · promoters 21.28% · institutions 1.45% · other public 2.91%

  6. To consider and approve revised limits of advancing loan(s), giving any guarantee(s) and/or to providing any security (ies) to the Subsidiary (ies) of the Company under Section 185 of Companies Act, 2013MoreLess
    Special
    95.89% for4.11% against

    Against: promoters 0.00% · institutions 100.00% · other public 5.03%

    Turnout: all 7.99% · promoters 21.28% · institutions 1.45% · other public 2.91%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 20 Sep 2023, 12 resolutions

Present: 8 promoters and 33 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Standalone and Consolidated Financial Statements as at 31 March, 2023 including the Audited Balance Sheet as at 31 March, 2023, the Statement of Profit and Loss for the financial year ended on that date and reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.21% for0.79% against

    Against: promoters 0.00% · institutions 0.00% · other public 13.49%

    Turnout: all 30.34% · promoters 98.31% · institutions 3.64% · other public 2.55%

  2. To appoint a director in place of Mr. Bhaveshkumar Vinodbhai Patel (DIN: 03382527), Director, who retires by rotation and being eligible offers himself for reappointment.
    Ordinary
    98.90% for1.10% against

    Against: promoters 0.00% · institutions 0.00% · other public 16.46%

    Turnout: all 26.88% · promoters 86.31% · institutions 3.64% · other public 2.57%

  3. Re-appointment of Mr. Kamleshkumar Bhagubhai Patel (DIN: 00229700) as a Chairman and Managing Director.
    Special
    98.79% for1.21% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.76%

    Turnout: all 22.00% · promoters 69.50% · institutions 3.64% · other public 2.57%

  4. Re-appointment of Mr. Mukeshbhai Jivabhai Patel (DIN: 00406744) as a Managing Director.
    Special
    98.99% for1.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 14.76%

    Turnout: all 26.18% · promoters 83.91% · institutions 3.64% · other public 2.57%

  5. Appointment of Dr. Yashree Kaushalkumar Dixit (DIN: 07775794) as an Independent Director.
    Special
    98.96% for1.04% against

    Against: promoters 0.00% · institutions 100.00% · other public 15.51%

    Turnout: all 30.36% · promoters 98.31% · institutions 3.64% · other public 2.57%

  6. Re-appointment of Mr. Mukesh Mahendrabhai Shah (DIN: 00084402) as an Independent Directors.
    Special
    98.93% for1.07% against

    Against: promoters 0.00% · institutions 100.00% · other public 16.01%

    Turnout: all 30.36% · promoters 98.31% · institutions 3.64% · other public 2.57%

  7. To approve increase in remuneration of Mr. Vipulbhai Vinodbhai Patel in respect to hold office or place of profit in the Company.
    Ordinary
    98.55% for1.45% against

    Against: promoters 0.00% · institutions 100.00% · other public 19.68%

    Turnout: all 26.88% · promoters 86.31% · institutions 3.64% · other public 2.57%

  8. To approve increase in remuneration of Dr. Bhagubhai Punjabhai Patel in respect to hold office or place of profit in the Company.
    Ordinary
    97.56% for2.44% against

    Against: promoters 0.00% · institutions 100.00% · other public 27.81%

    Turnout: all 22.00% · promoters 69.50% · institutions 3.64% · other public 2.57%

  9. To approve increase in remuneration of Mr. Shaunakkumar Mukeshbhai Patel in respect to hold office or place of profit in the Company.
    Ordinary
    97.95% for2.05% against

    Against: promoters 0.00% · institutions 100.00% · other public 27.83%

    Turnout: all 26.18% · promoters 83.91% · institutions 3.64% · other public 2.57%

  10. To approve increase in remuneration of Mr. Hiren Sureshbhai Patel in respect to hold office or place of profit in the Company.
    Ordinary
    97.95% for2.05% against

    Against: promoters 0.00% · institutions 100.00% · other public 27.87%

    Turnout: all 26.18% · promoters 83.91% · institutions 3.64% · other public 2.57%

  11. Approval of ‘Asian Granito - Employee Stock Option Plan - 2023’ (“ESOP PLAN 2023”)
    Special
    98.32% for1.68% against

    Against: promoters 0.00% · institutions 100.00% · other public 26.43%

    Turnout: all 30.36% · promoters 98.31% · institutions 3.64% · other public 2.57%

  12. Approval of Employee Stock Option Plan - 2023 for the Eligible Employees of the Subsidiary Company(ies) of the Company.
    Special
    98.29% for1.71% against

    Against: promoters 0.00% · institutions 100.00% · other public 26.83%

    Turnout: all 30.36% · promoters 98.31% · institutions 3.64% · other public 2.57%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 25 May 2023, 2 resolutions

The company's voting result (opens in a new tab)

  1. Increase in Authorized Share Capital and consequent Alteration of Memorandum of Association of the Company
    Ordinary
    96.82% for3.18% against

    Against: promoters 0.00% · institutions 100.00% · other public 30.71%

    Turnout: all 32.11% · promoters 100.00% · institutions 9.37% · other public 4.28%

  2. Issue of Warrants, Convertible into Equity Shares on Preferential Basis to Promoter and certain identified Non-promoter persons
    Special
    96.40% for3.60% against

    Against: promoters 0.00% · institutions 100.00% · other public 35.04%

    Turnout: all 32.13% · promoters 100.00% · institutions 9.37% · other public 4.31%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 1 complaint open, quarter to Dec 2024.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
Yes
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2026. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far. A statement's amounts are left out where the raise it states and its own uses differ by fifty times or more, a figure typed at the wrong scale.

RaisedAmount raisedForSet asideSpentSpent elsewhereReason and comments
Rights IssuesMay 2022, checked by ICRA Limited–Funding of Capital Expenditure for Setting up of new manufacturing units under the newly incorporated wholly owned subsidiaries of the company - Future Ceramic Pvt. Ltd.––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–Funding of Capital Expenditure for Setting up of new manufacturing units under the newly incorporated wholly owned subsidiaries of the company - AGL Sanitaryware Pvt. Ltd––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–Funding of Capital Expenditure for Setting up of new manufacturing units under the newly incorporated wholly owned subsidiaries of the company - AGL Surfaces Pvt. Ltd.––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–Working Capital for Greenfield Projects––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–Capex for Setting up Display Centre at Morbi––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–General Corporate Purpose––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–Capex for Setting up Display Centre cum Office at Ahmedabad––YesPostal Ballot Notice alongwith Explanatory Statement Attached
Rights IssuesMay 2022, checked by ICRA Limited–Setting up of Stock Point for Trading of Building Construction Material––YesPostal Ballot Notice alongwith Explanatory Statement Attached
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.