Q1 FY 2023 Review

Acrysil Limited reported net revenue of ₹17,131.41 lakhs for the quarter ended June 30, 2022, compared to ₹9,754.96 lakhs for March 31, 2021. EBIT and Profit After Tax were ₹2,788.43 lakhs and ₹1,879.41 lakhs for the quarter ended June 30, 2022, as compared to ₹2,035.99 lakhs and ₹1,350.34 lakhs, during the corresponding quarter of the previous year.

Acrysil Limited - Investment Summary

Overview

• As on 05 July 2022, the company made an announcement regarding increase in dealer network from 1,500 to 1,880 over the last three months, which comprises of 25% expansion in dealer network PAN India. Further, the company plans to increase its dealer to 3,000 by the end of FY2023.

• The company has increased its manufacturing capacity of Quartz Kitchen Sinks from 8,40,000 units to 10,00,000 units per annum.

• The company has been assigned an A and A2+ credit rating on a long-term and short-term bank facility.

Acrysil Limited - Quarterly Summary

Business

• Acrysil Limited is one of India's leading manufacturers and exporters of composite quartz granite kitchen sink.

• The company offers granite and stainless-steel kitchen sinks under the brand name ‘Carysil.’

• The company exports its products to more than 55 countries.

• The company has 4 manufacturing plants with a combined capacity of 10,00,000 quartz kitchen sinks annually.

• The company was incorporated in the year 1987.

• The company formed a 100% export unit in the year 2004.

• In 2014, the company started its first internal subsidiary in Germany ‘Acrysil GmbH’ and commenced the commercial production of stainless-steel units through its subsidiary ‘Acrysil Steel Private Limited.

• Some of the company’s notable clients include BASF, Biocon, Reliance, Syngenta, Aarti Drugs, PI Industries, Atul, Lupin, and many more.

• The company launched the ‘Sternhagen’ brand and state-of-the-art experience cum showroom in Ahmedabad & Mumbai in 2017.

• Acrysil Limited incorporated the wholly owned subsidiary ‘Acrysil Ceramictech Limited’ on 8 April 2022, with an intention to sell ceramic kitchen sinks and bath products.

• The company’s product portfolio is broadly divided into two parts:

  • Kitchen Segment:

    • Sinks:

      • The only company in Asia and among the few companies worldwide manufacturing quartz kitchen sink according to global standards.

      • Developed more than 150 models to cater to various segments and markets.

      • The brand is available in more than 1880 outlets.

      • Stainless steel sinks have a production capacity of 90,000 sinks per annum.

    • Kitchen Appliances:

      • The product portfolio includes chimneys, dishwashers, cooktops, ovens, wine chillers, hoods, cooking ranges, and microwave ovens.

  • Bath Segment:

    • The product portfolio includes premium sanitary ware, fittings, and highlights tiles.

    • The products are sold under the brand name ‘Sternhagen.’

    • It has received many international awards, including the prestigious Red Dot award.

• Out of the total revenue, 77% of revenue have generated from Quartz Sink, 14% from Steel Sink, and 9% from Appliances & others in FY 2022, compared to 76%, 14%, and 10% in FY 2021.

  

• Out of the total revenue, 80% of revenue have generated from exports and 20% from Domestic in FY 2022, compared to 73% and 27% in FY 2021.

  

Acrysil Limited - Revenue Trend

Acrysil Limited - Ratio Analysis