Elegant Marbles & Grani Industries Ltd - Stock Valuation and Financial Performance

Elegant Marbles & Grani Industries was incorporated in the year 1984 and was promoted by Rajesh Agrawal and Rakesh Agrawal. The company was formerly known as Elegant Marble. The shares of the company are listed on the Bombay and Jaipur stock exchanges.

The company is one of the leading manufacturers and providers of choicest and exclusive range of Indian and imported marbles and granites. It has developed long-term relationships with several niche clients in India and abroad. Over the years, the company has evolved in response to changing customer demands and aspirations. Aggressive marketing and rational utilization of resources by the management of the company has helped to record such excellent results. Elegant has deployed considerable attention and resources on creating a better future for itself, so that when the cyclical trends on the commodity become more favourable, as has been the experience in the past, the company is well positioned to capture the benefits of upturn.

It engages in the manufacture and sale of marbles and granite stones in India and abroad. It offers natural stones, including travertine, onyx, sandstone and slates; engineered marble comprising agglomerated and semi precious stones; and mosaic, inlays, marble handicrafts, marble art work, and edge profiles.

History of the company:

1984 - The company was incorporated under the name and style of Elegant Marbles Private Limited on November 5. The company was promoted by Rajesh Agrawal and Rakesh Agrawal to set up a plant to manufacture polished marble tiles with an installed capacity of  33,000 sq mtrs per annum. The project was implemented in a period of six months and commenced production in August 1985.

1987 - With a view to broad base its product range and take advantage of the growing market, the company diversified into manufacture of marble slabs by setting up production facilities with an installed capacity to manufacture 47,000 sq meters of marble slabs per annum.

1989 - The company started trading in granite tiles and slabs and executed export orders to USA, Europe, Middle East and Singapore. Keeping in mind the growing demand for Indian Granie both in the domestic and foreign markets and the thrust given by the Government of India for development of the granite industry, the company set up production facilities to manufacture 16,100 sq meters of granite slabs per annum at its existing site at Abu Road. 

1994 - The company has one of the few plants in the country where integrated production facilities for marble tiles, marble slabs and granite slabs are available under one roof. The name of the company was changed to Elegant Marbles and Grani Industries Pvt Ltd on June 8, and was converted into a public limited company on July 11, when it acquired its present name.

1995 - The company inaugurated a new retail outlet in the heart of Bombay's marble market situated near the airport on the Western Express Highway. The company is also planning in the current year to set up representative offices all over India for effective marketing of its products. The company has been awarded the much-coveted government recognized Export House status, which is a matter of great prestige for the company.

1998 - The company has purchased a large showroom-cum-corporate office adjacent to its existing office at Lower Parel, Mumbai.