Exxaro Tiles Expands Its Footprint to European and US markets

In keeping with Exxaro Tiles Ltd’s upward growth trajectory, there have been positive developments regarding the company’s performance. Capitalizing on its premium products continues to be the key strategic priorities. The company has recently won a new order worth Rs 35-40 crore for big size GVT slabs including 1200×1800 mm, the company’s premium product, and other sizes as well as vitrified tiles.

Earlier, in May 2022, Exxaro had singed Indian Bollywood Actor, Ajay Devgn as its brand Ambassador to endorse its tiles products. Commenting on the company’s most recent developments and ambitions, Mukesh Patel, chairman and managing director said, “Product innovation and improvement continue to remain our key focus areas. Our eyes are on the premium products mix, which yields higher per unit value on margins. The latest order for big slab has been a laudable feat, furthering our goal of fortifying our premium segment’s reach and performance.  Also, our recent exhibitions in the USA received a great response, steering us towards developing export markets. The demand for our products remains robust in the USA, resulting in improved exports for that region and strengthening our focus in that market. We will continue to set newer benchmarks in the industry while staying nimble-footed and growth-driven.”

Exxaro Tiles is a leading name in the ceramic tiles industry, offering the most innovative range of tiles since 2013. Through its two main product categories-double-charge vitrified tiles and glazed vitrified tiles-it offers attractive and long-lasting vitrified floor tiles. The Company offers a new big slab in replacement of granite and marble from October 2022. Exxaro was founded with the goal of forging a distinctive character in the tiles sector. With a sophisticated product line that epitomises beauty and style, the Company has distinguished itself in the sector. The Company currently sells its goods to over 10 countries and has more than 2,000+ touch points across 25 states, mostly in South and West India. Owing to the long ties with the dealers, the Company is able to grow and supply its products for significant infrastructure projects. Its present annual capacity is of 14.60 MSM across two plants – at Talod, Sabarkantha, Gujarat: one of the biggest manufacturing plants of GVT in India and the other one at Padra, Vadodara, Gujarat.

During Q1FY24, the company recorded promoter shareholding of 42.07%, FIIs stake of 4.13 and public stake of 53.80%.