Hot Stock: This FII backed small-cap company announces launch of new showroom; entering US market with new order worth Rs 35 – 40 crore
Kiran Shroff / 1-Sep, 2023 / Categories: Trending, Mindshare
The company is committed to growing its business and expanding its reach. Noteworthy developments have been made pertaining to Exxaro Tiles Ltd.’s performance, on its upward growth trajectory. The company is focused on capitalising on its premium products. This focus has resulted in a recent milestone, a new order worth Rs 35-40 crore for large format GVT slabs, including our highly premium 1200×1800 size product and other sizes in the vitrified tiles segment.
The company is committed to growing its business and expanding its reach. In line with this commitment, the company will open a new showroom in Andheri, Mumbai. The inauguration is scheduled for September 17, 2023, and the event will be graced by the presence of a range of dealers, architects, construction barons, contractors, and many notable industry players among others.
Commenting on the company’s most recent developments and ambitions, Mr 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.”
On Thursday, shares of Exxaro Tiles Ltd surged 0.43 per cent to Rs 128.95 per share with an intraday high of Rs 132 and an intraday low of Rs 127.40. The stock is up by 33.33 per cent from its 52-week low of Rs 99 per share. Earlier, Nexpact Limited bought 5,98,064 shares of the company.
Exxaro Tiles Ltd (ETL) is engaged in the manufacturing of double-charge vitrified tiles and glazed vitrified tiles used for flooring solutions. Its product basket consists of 1000+ designs and it is sold under its own brand “Exxaro”. The company has a market cap of Rs 577 crore and reported positive numbers in its Quarterly Results (Q1FY24) and annual results (FY23).
