This small-cap stock engaged in manufacturing premium kitchen solutions, including sinks, faucets, and appliances, serving both domestic and international markets, jumped 3 percent after its plans to invest Rs. 500 crore for the expansion of kitchen solutions manufacturing in India.
Stock Price Movement:
With a market capitalization of Rs. 1,924.87 crores, the share of Carysil Ltd (NSE:CARY) has reached an intraday high of Rs. 692 per equity share, rising nearly around 2.98 percent from its previous day’s close price of Rs. 672. Since then, the stock has retreated and is currently trading at Rs. 677.40 per equity share.
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What Happened:
Carysil, a well-known kitchen solutions company, is investing Rs. 500 crore to grow its manufacturing in India. This expansion will help increase the production of kitchen sinks, faucets, and appliances as part of its long-term strategy.
As part of this plan, Rs 100 crore will be used to double the sink production from 1 million to 2 million units yearly. Another Rs 50 crore will help increase stainless steel sink output to 2.5 lakh units annually. The company is also investing Rs 30 crore to produce 50,000 kitchen faucets every year. Additionally, Rs 20 crore will go towards making 50,000 built-in kitchen appliances per year. Over the past five years, the company has spent Rs 300 crore to expand in India and overseas.
Carysil’s Chairman and Managing Director, Chirag Parekh, said the company wants to make Bhavnagar the world’s biggest center for kitchen sink manufacturing. He added, “Make in India” is a key part of their growth plan, and they are focused on improving quality and innovation in kitchen products.
Revenue Mix in 9M FY25:
In 9MFY25, the company’s product-wise revenue distribution saw Quartz sinks contributing 47.3 percent, surfaces increasing to 29.5 percent, steel sinks at 10.5 percent, and appliances and others rising to 12.7 percent, reflecting a balanced product mix.
Geography-wise, the UK led with 40.4 percent, followed by the USA and India at 20.5 and 18.3 percent, respectively. Europe contributed 13.1 percent, while ROW increased to 7.7 percent, showing strong international and domestic market presence.
Business Operation:
The company is strengthening its presence in the domestic market by expanding its dealer network across India. With over 3,800 dealers, 90 distribution points, and 100 galleries in 9MFY25, it continues to grow nationwide. Its products are sold in 58 countries, including the US, the UK, and Europe.
Recent quarter results:
Carysil Limited’s revenue has increased from Rs. 188 crore in Q3 FY24 to Rs. 203 crore in Q3 FY25, which has grown by 7.98 percent. The net profit has decreased by 13.33 percent from Rs. 15 crore in Q3 FY24 to Rs. 13 crore in Q3 FY25.
Written By – Nikhil Naik
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