Acrysil shines on planning to expand production capacity of Quartz Kitchen sinks

08 Feb 2021

Acrysil is currently trading at Rs. 219.10, up by 10.40 points or 4.98% from its previous closing of Rs. 208.70 on the BSE.

The scrip opened at Rs. 219.10 and has touched a high and low of Rs. 219.10 and Rs. 219.10 respectively. So far 39565 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 219.10 on 8-Feb-2021 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. 219.10 and Rs. 184.70 respectively. The current market cap of the company is Rs. 584.88 crore.

The promoters holding in the company stood at 44.04%, while Institutions and Non-Institutions held 7.09% and 48.87% respectively.

Acrysil is planning to expand its production capacity of its Quartz Kitchen sinks by another 100,000 units at its Bhavnagar plant in Gujarat. The proposed capex will increase the manufacturing capability of Quartz Kitchen sink to 700,000 units per annum. The purpose of the expansion is to meet the increasing demand of quartz kitchen sink in international and domestic market. The proposed CAPEX would involve investments in Land & building, plant & machinery and other infrastructure. The total Capital Expenditure envisaged is approximately Rs 30 crore.

The expansion project is likely to be commissioned by June - 2021. The CAPEX will be financed by mix of internal accruals and debt. In August 2020, Company had planned a capacity expansion for manufacturing of Quartz sinks by 100,000 units. The work for this expansion has been completed and the company will commence the production for the same in February 2021.

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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