Acrysil completes capacity expansion project in Bhavnagar, Gujarat

Acrysil completed the capacity expansion of an additional 1,40,000 units at its Bhavnagar plant in Gujarat and the commercial production has commenced from 25 October 2021 onwards.

On 28 June 2021, Acrysil, a manufacturer of Quartz Kitchen Sinks in Asia had announced expansion of production capacity of Quartz Kitchen Sinks from 7,00,000 units p.a. to 8,40,000 units p.a. i.e. an additional capacity of 1,40,000 units p.a. (20% of its existing production capacity) at its Bhavnagar plant in Gujarat.

The expansion in production capacity is to meet the growing demand of Quartz Kitchen Sinks in global market. The proposed capital expenditure involved an investment of Rs 15 crore approx. which would involve investments in plant & machinery, utilities and other infrastructure. The project was financed by mix of internal accruals and debt.

The company's consolidated net profit surged 196.1% to Rs 13.50 crore in Q1 FY22 from Rs 4.56 crore in Q1 FY21. Net sales during the quarter jumped 112.2% Y-o-Y (year-on-year) to Rs 97.55 crore during the quarter.

Shares of Acrysil lost 0.83% to Rs 689.45 on BSE. Acrysil is engaged in manufacturing of composite quartz sinks. The company has a manufacturing plant at Bhavnagar, Gujarat and has a total installed capacity of 600,000 sinks per annum as on date. It deals in complete range of built-in kitchen appliances under "Carysil" brand and also offers bathroom solutions under the "Sternhagen" brand.

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