Asian Granito India Limited — Others, 13-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Asian Granito India has announced a board meeting to discuss the financial results for the quarter and half-year. The company reported changes in the use of funds raised through its Rs. 440.96 Cr rights issue. Capital expenditure for subsidiaries Future Ceramic and AGL Sanitaryware was fully utilized, but Rs. 32.17 Cr allocated for AGL Surfaces remains unspent. Working capital utilization dropped from Rs. 39.4 Cr to Rs. 30 Cr, leaving Rs. 9.4 Cr unutilized. Rs. 37.23 Cr reserved for a Morbi display center is pending use, and construction at the Ahmedabad display center has not started despite a refundable deposit to the EPC contractor. These shifts indicate strategic adjustments affecting expansion plans.