EXXARO TILES LIMITED Share price

Exxaro Tiles Limited was incorporated at Himmatnagar as Ricasil Ceramic Industries Private Limited' on 2 January 2008 as a private and joint stock company pursuant to conversion of M/s. Ricasil Ceramic Industries, a partnership firm. The Firm was originally formed by a Partnership Deed dated 14 May 2007 read with supplementary partnership deeds dated 07 December 2007 and 20 December 2007, respectively. This Firm thereafter got converted into a Private Company pursuant to a Certificate of Incorporation dated 02 January, 2008 in the name of 'Ricasil Ceramic Industries Private Limited'. Pursuant to a Special Resolution passed by the shareholders of the Company at the Extra-Ordinary General Meeting held on 12 February 2018, the name of the Company was changed to Exxaro Tiles Private Limited. Thereafter, the Company was converted into a Public Limited Company and the name was changed to Exxaro Tiles Limited on December 28, 2020 vide fresh Certificate of Incorporation issued by the Registrar of Companies, Ahmedabad, Gujarat. The Company is engaged in the manufacturing and marketing of vitrified tiles mainly used as flooring solutions. The Company commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles and have over the years, diversified, expanded and evolved into a manufacturer for vitrified tiles. It mainly deal in two product categories i.e. Double Charged Vitrified Tiles and Glazed Vitrified Tiles marketed under the brand name 'Exxaro'. In year 2012, the Company commenced the setting up of a new project to manufacture double charged vitrified tiles at Padra Taluka in Vadodara with a installed capacity of 3,600,000 square meter per annum. In April 2013, it started trial production of the new project at Padra in Vadodara and projected cost having projected installed capacity of 3,600,000 square meter per annum. The Company established a new project in Sabarkantha District with a projected installed capacity in respect of glazed vitrified tiles and double charged vitrified tiles of 9,600,000 square meter per annum in June, 2015. It started commercial production in Talod Taluka having installed capacity in installed capacity in glazed vitrified tiles and double charged vitrified tiles of 9,600,000 square meter per annum within the estimated time lines and projected cost in September, 2016. The Company expanded the product basket to include PGVT and GVT tiles, and a full-colour body collection in 2017. In August 2021, the Company made an Initial Public Offering of 13,424,000 Equity Shares by raising funds aggregating to Rs. 160.8 Crore comprising a Fresh Issue of 111,86,000 Equity Shares aggregating to Rs. 133.9 Crore and Offer for Sale of 2,238,000 Equity Shares aggregating to Rs. 26.9 Crore. The Company incorporated a new wholly owned subsidiary in the name 'Exxaro Ceramics Limited' on December 13, 2021. In 2022-23, the Company commissioned a Big GVT Slab product line in October, 2022.