Asian Granito Q1 FY27: Net Loss on Gas Costs and One-Time Items

Pat NegativeEmphasis Of MatterResults RestatedExceptional ItemContingent Liabilities IncreasedResults View source PDF Explain this filing

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AI summary

Asian Granito reported Q1 FY27 results. Standalone revenue rose 6 percent to 294.58 crore but posted a net loss of 14.26 crore versus a profit of 2.24 crore a year ago. Consolidated revenue grew 1.4 percent to 538.50 crore with a net loss of 32.67 crore versus a profit of 8.07 crore last year. Losses were driven by higher gas prices, the impact of US anti-dumping duty on the quartz plant, and a one-time reversal of interest income of 13.39 crore from subsidiaries. Auditor flagged the ongoing 2022 income tax search matter and prior periods were restated for the schemes of arrangement.

Likely market impact

Loss-making quarter driven by one-time items and cost pressures; watch for recovery as Morbi plants restart and gas situation eases.