Acrysil shines on expanding production capacity of Quartz Kitchen sinks by 20%

26 Aug 2020

Acrysil is currently trading at Rs. 126.85, up by 4.60 points or 3.76% from its previous closing of Rs. 122.25 on the BSE.

The scrip opened at Rs. 127.95 and has touched a high and low of Rs. 128.30 and Rs. 125.05 respectively. So far 43643 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 2 has touched a 52 week high of Rs. 135.95 on 25-Feb-2020 and a 52 week low of Rs. 53.95 on 30-Mar-2020.

Last one week high and low of the scrip stood at Rs. 128.90 and Rs. 92.50 respectively. The current market cap of the company is Rs. 339.02 crore.

The promoters holding in the company stood at 44.04%, while Institutions and Non-Institutions held 1.73% and 54.23% respectively.

Acrysil is expanding production capacity of its Quartz Kitchen sinks by 20% through brownfield expansion at its Bhavnagar plant in Gujarat. The propose capital expenditure (capex) will increase the manufacturing capability of Quartz Kitchen sinks by approximately 1,00,000 units p.a. to 6,00,000 units p.a. The purpose of the expansion is to meet the increasing demand from the export market.

Currently, the company exports to over 55 countries and plan to expand further by acquiring newer customers and penetrating in newer geographies. Exports business as on March 31, 2020 stood at Rs.157 crore, contributing 73% of the total revenue. The total capex envisaged is approximately Rs 15 crore. The expansion project is likely to be commissioned by March 2021. The capex will be financed largely by Internal Accruals.

Acrysil is a leading manufacturer of composite quartz and granite kitchen sinks in India. The company exports granite sinks to more than 20 countries worldwide.

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