### **Company Overview** Carysil Limited, originally incorporated as Acrysil in 1987, is one of Asia’s largest manufacturers of composite quartz kitchen sinks and a globally recognized leader in premium kitchen and bathroom solutions. Headquartered in Bhavnagar, Gujarat, the company operates a **1 million-unit annual production capacity for quartz sinks**, making it one of only four global manufacturers using **exclusive German Schock technology** for quartz sink production. The company offers a comprehensive ecosystem under its **Carysil** and **Sternhagen** brands, spanning: - Quartz and stainless steel sinks - Built-in kitchen appliances (hobs, hoods, ovens, dishwashers, wine chillers) - Faucets and plumbing fixtures - Engineered surfaces and countertops - Premium bathroom products (sanitaryware, fittings, 3D tiles) Carysil exports to over **55 countries** and maintains subsidiaries in the UK, US (United Granite LLC), UAE (Carysil FZ-LLC), and Germany. It is positioned as a **one-stop provider of smart, sustainable, and design-forward kitchen and bath solutions**, targeting both B2B and B2C markets. --- ### **Strategic Growth Highlights (Nov 2025)** #### **1. Capacity Expansion & Manufacturing Enhancements** - **New Facility Investment**: INR 25 crores allocated to set up a new integrated manufacturing and assembly plant with an **in-house glass processing unit** to improve quality control and product aesthetics for hobs and hoods. - **Quartz Sinks**: - Expanding production by **100,000 units**, with completion by **December 2025**. - Total capacity will reach **1 million units/year**, with utilization increasing to **~88%** in Q2 FY26. - Supplies **~70% of IKEA’s global quartz sink requirements (ex-US)** — Q2 FY26 volumes rose to **197,000 units** (from 159,000 YoY). - **Stainless Steel Sinks**: - Expanding capacity by **70,000 units annually** to **250,000 units/year**, driven by strong domestic and export demand. - Capacity utilization at ~**95%**, prompting third-shift operations. - **Land Acquisition**: Acquired **7,400 sq. m** of adjacent land for INR 6 crores, enabling additional **150,000 units/year** of future capacity (FY26–27). - **In-House Manufacturing**: - Launched **in-house assembly of hoods** and planned expansion for hobs, food waste disposers, dishwashers. - Building a dedicated **100,000-unit/year appliances facility** compliant with BIS standards. #### **2. Product & Technology Innovation** - **Quartz Innovation**: Patented **Super X** technology (2x stronger sinks) and **SINK GREEN**, the **world’s first 100% bio-quartz sink** made with natural ingredients (spinach, turmeric, beetroot). - **PVD Coating**: Operates one of the few dedicated PVD plants globally, offering premium finishes (rose gold, gunmetal) on stainless steel sinks. - **Faucets**: - Installed **annual capacity of 100,000 units** (from 30,000 in FY25). - Developing a **3-in-1 smart tap** (boiling, sparkling, drinking water). - Secured OEM interest and in discussions with major European faucet brands for **technology transfer**. - **Smart Appliances**: Launched **AI-enabled ovens with integrated air fryers**, **digital control panels**, and **built-in refrigerators** (priced INR 2–3 lakhs). - **Design Focus**: New molds developed to align with global trends; flagship designs include **Waltz (push-button drain)**, **Quadro**, **Micro Radius**, and **Square Sinks**. #### **3. Domestic Market Strategy (India Focus)** - **Revenue Target**: Scaling up the **India business to INR 500 crores** (from INR 170–180 cr in FY25) through brand campaigns, digital presence, and retail expansion. - **Distribution Growth**: - **4,000+ dealers** (up from 1,500 in 2022–23) - **127+ galleries** (target: 150 by FY26) - New **experience centers** in NCR, Hyderabad, Telangana, and Andhra Pradesh. - **Leadership Strengthening**: - Appointed **Mr. Pavankumar Palkar as Chief Sales Officer** for domestic business. - Hired a dedicated team for **e-commerce and digital marketing**. - **Marketing & Partnerships**: - Collaboration with **Mira Kapoor** for brand visibility. - Engaged **Deloitte** to develop a 5-year strategic roadmap. - **B2B Penetration**: Appointed a **Vice President for B2B Sales (Bathroom Division)** to boost institutional sales with builders and developers. #### **4. Global Performance & Subsidiary Growth** - **UK Subsidiary (Carysil Products Ltd.)**: - Performing **consistently**; among **top 3 kitchen brands**. - Secured **exclusive supply deal with Howdens**, UK’s largest kitchen manufacturer. - Achieved top-tier online appliance supplier status. - **UAE Subsidiary (Carysil FZ-LLC)**: - **Exceeded H1 FY26 budgeted sales**. - Over **90% of revenue from appliances**, driven by strong partnerships. - Opening new showrooms in **Sharjah and Oman**. - **US Subsidiary (United Granite LLC)**: - Achieved **positive PAT in Q2 FY26**, reversing prior losses. - Shifted to high-margin granite and stone products. - Successfully supplying to **Karran USA**, with products in **1,800+ stores**. - **GCC Expansion**: Flagship showroom in Dubai; second to open in Sharjah. GCC is a **high-growth market** for appliances and project supplies. #### **5. Financial & Capital Strategy** - **QIP Fundraising**: Raised **INR 125 crores** via Qualified Institutional Placement to fund: - Capacity expansions (quartz, steel, faucets, appliances) - Critical mold procurement - Brand-building and India market penetration - **Revenue Mix (FY25)**: - **Quartz Sinks**: 47.5% - **Surfaces**: 28.4% - **Appliances & Others**: 13.5% - **Steel Sinks**: 10.6% - **Geographic Revenue**: - **UK**: 39.6% - **US & ROW**: 42.7% - **India**: 17.7% #### **6. Long-Term Vision & Strategic Shifts** - **Product Mix Outlook (3–5 Years)**: - **70% Sinks & Faucets**, **30% Built-in Appliances**. - **Focus Segments**: Premium, high-margin products targeting urban, quality-conscious consumers. - **Technology & Sustainability**: - Investing in **R&D**, eco-friendly materials, and advanced finishing (powder coating, chrome plating). - Pioneering **seamless countertop-sink integration (Cary Stone)** using UK/US fabrication tech. - **Global Sourcing Advantage**: - Benefit from **“China Plus One”** and **“Europe Plus One”** strategies amid rising costs in China, Vietnam, and Europe. - **India-UK FTA** enhances export competitiveness. - **OEM Growth**: Expanding OEM partnerships globally, currently supplying **IKEA, Grohe, Karran, Kohler India, Hafele, Howdens, and Emaar**. --- ### **Key Growth Drivers** | Driver | Details | |-------|--------| | **Organic Expansion** | Capacity additions across quartz, steel, appliances, faucets | | **Inorganic Growth** | Acquisitions in UK (CSL, The Tap Factory), US (United Granite), UAE (Carysil FZ) | | **Product Diversification** | Appliance & faucet verticals, smart kitchens, lifestyle sinks | | **Global Market Penetration** | 55+ countries; expanding in GCC, Europe, Australia, Türkiye | | **Vertical Integration** | In-house manufacturing, assembly, and fabrication | | **Brand & Retail Infrastructure** | Experience centers, galleries, omnichannel e-commerce (target: INR 50 cr e-commerce revenue in 5 years) |