Asian Granito's margin slips as costs outpace flat revenue
Consolidated net profit fell -35.44% QoQ, while other income made up 40.48% of pre-tax profit.
Filed 03 Nov 2026, 17:30 IST · after market close · Asian Granito India Ltd (ASIANTILES)
Key takeaways
- Consolidated operating margin fell 0.94 percentage points QoQ to 5.25% as expenses grew +0.54% while revenue declined -0.46%.
- Consolidated net profit declined -35.44% QoQ to Rs 5.21 cr despite the tax rate falling 1.86 percentage points to 15.86%.
- Other income accounted for 40.48% of pre-tax profit, making the Rs 5.21 cr consolidated profit partly dependent on non-operating income.
Price around the results
Costs rose while revenue was broadly flat
Consolidated revenue declined -0.46% QoQ to Rs 528.5 cr, while expenses increased +0.54% to Rs 500.76 cr. Costs therefore grew faster than revenue, reducing operating margin by 0.94 percentage points to 5.25%. Operating profit fell -15.60% QoQ to Rs 27.75 cr.
Lower tax did not prevent a profit decline
Net profit fell -35.44% QoQ to Rs 5.21 cr even as the tax rate dropped 1.86 percentage points to 15.86%. Interest expense declined -6.91% to Rs 7.95 cr, but other income rose +74.31% to Rs 2.51 cr and represented 40.48% of pre-tax profit. This makes the quarter's reported profit more reliant on non-operating income.
Margin remains below the consumer discretionary peer median
Asian Granito's 5.25% operating margin was 6.98 percentage points below the 12.23% median among 188 Consumer Discretionary peers that had reported the quarter. The margin also declined from 6.19% in Q1FY27, extending the sequential deterioration into Q2. The consolidated results were filed after market close, so there is no market reaction to assess yet.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹529 cr | ₹531 cr | -0.46% |
| Other income | ₹3 cr | ₹1 cr | +74.31% |
| Expenses | ₹501 cr | ₹498 cr | +0.54% |
| Operating profit | ₹28 cr | ₹33 cr | -15.60% |
| Operating margin (%) | 5.25% | 6.19% | — |
| Interest | ₹8 cr | ₹9 cr | -6.91% |
| Depreciation | ₹16 cr | ₹16 cr | +0.88% |
| Profit before tax | ₹6 cr | ₹10 cr | -36.80% |
| Tax | ₹1 cr | ₹2 cr | -43.68% |
| Net profit | ₹5 cr | ₹8 cr | -35.44% |
| EPS (₹) | ₹0.20 | ₹0.27 | -25.93% |
Operating margin of 5.25% compares with a Consumer Discretionary sector median of 12.23% across 188 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 5.25% after the sequential decline from 6.19%.
- Whether revenue moves above Rs 528.5 cr while expenses remain below the current Rs 500.76 cr level.
- Whether other income's 40.48% share of pre-tax profit reduces in the next quarter.