Exxaro Tiles targets European and US markets for growth

In keeping with Exxaro Tiles Ltd's upward growth trajectory, there have been noteworthy developments pertaining to its performance. Capitalising on premium products continues to be one of its key strategic priorities. In line with this, its most recent milestone has been the new order worth Rs 35-40 crore, which the company bagged from big size GVT slabs including 1200x1800 size, which is its highly premium product, and including its other sizes as well in the vitrified tiles segment.

Earlier, in May 2022. Exxaro had signed 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, we are thrilled to share that 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."

About Exxaro Tiles Limited: 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 is a company that 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.

On Friday, shares of Exxaro tiles gained by Rs 3.6, or 2.9 per cent, to end at Rs 129.1 apiece on BSE.

Leading research house market analysts and brokerage firms expect the stock to touch Rs 5000 in one year.

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

With the construction industry booming, the tiles and bathroom accessories market is expected to grow which can make Exxaro a multibagger stock in the coming days.

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