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About the Company:
Exxaro Tiles is engaged in manufacturing and marketing of vitrified tiles used majorly for flooring solutions. The company has commenced its operations in 2008 as a manufacturer of fit which is one of the raw materials used in manufacturing of titles. Later on, it diversified and expanded its operations in the manufacturing of vitrified tiles. Their business operations are divided into two product categories. 1) Double Charged Vitrified Tiles: These tiles are fed through a press which prints the pattern with a double layer of pigment, 3-4 mm thicker than other type of tiles. This process does not permit complex patterns but results in a long wearing tile surface, suitable for heavy traffic commercial projects. 2) Glazed Vitrified Tiles: These are flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and other additives and fired at high temperatures to ensure high strength and low water absorption. These tiles are coated with glaze materials prior to the firing process.
The product basket of the company has 1000+ designs which are marketed under the brand ‘Exxaro’. The brand series of the company include: Topaz Series, Galaxy Series and High Gloss Series. The company has PAN India presence and supply in over 12 countries.
Outstanding Litigation:
S.No. | 1 - Company | 2 - Promoters | 3 - Directors | |||
Entity Name | By the Company | Against the Company | By the Promoters | Against the Promoters | By the Directors | Against the Directors |
Criminal cases | 64 | - | - | - | - | - |
Material civil cases | - | 1 | - | - | - | - |
Taxation matters | 7 | - | - | - | - | - |
Regulatory Procedings | - | - | - | - | - | - |
Amt. (In Million Rs.) | 74.87 | 1.04 | - | - | - | - |
Financial Statements:
Income Statement (In Millions) | FY21 | FY20 | FY19 | |
Gross Operating Income | 2598.53 | 2439.64 | 2440.06 | |
Cost of Employee & Inventory | 1036.63 | 978.28 | 1241.98 | |
Other Expenses | 1041.36 | 999.53 | 802.24 | |
EBITDA | 520.54 | 461.83 | 395.84 | |
Depreciation | 136.34 | 142.97 | 140.81 | |
Interest | 212.6 | 197.18 | 178.28 | |
Profit Before Tax | 171.6 | 121.68 | 76.75 | |
Tax | 19.37 | 9.09 | -12.42 | |
Profit After Tax | 152.23 | 112.59 | 89.17 |
The promoters of the company are Mukeshkumar Patel, Kirankumar Patel, Dineshbhai Patel, and Rameshbhai Patel.
The company will face tough competition from Kajaria Ceramics, Asian Granito, Somany Ceramics, Orient Bell and Murudeshwar Ceramics.
The object of the Offer for Sale is to allow Mr. Dixit Kumar Patel to sell an aggregate of up to 2.23 million equity Shares held by them amounting at Rs. 26.86 cr. The company will not receive any proceeds from the Offer for Sale.
The company has planned to raise fresh capital comprising an aggregate of 1,11,86,000 equity shares having Face Value ₹10 aggregating up to Rs. 134.23 Cr at the upper price band of Rs. 120. Out of the net proceeds, an amount of Rs. 50 cr. will be utilized for prepayment/repayment of certain borrowing by the company, an amount of Rs. 45 cr. will be allocated for funding working capital requirements while rest will be utilized for general corporate purpose.