The only thing constant in the World is change. I am very happy with the positivechanges and innovations taking place in the Company both in processes and products.Introduction of new quality products by way of applying creativity and new technology aregreat assurance that Team Acrysil with Chirag Parekh as leader continues to carryforward the rich legacy. I am confident that as the rightful flag-bearer of our visionTeam Acrysil would continue to conquer newer and higher peaks.
For Acrysil FY 2017-18 was yet another year of innovation expansion and excellence.We continued to introduce new products expand our production capacity enhance presencein foreign shores and bring winning products to market; thereby maximising value for ourShareholders. This is a manifestation of implementation of strategic imperatives likedelving into new possibilities seizing new opportunities embracing emerging trendssynergising strengths and pursuing perfection endlessly.
Within a span of over three decades Acrysil has become a force to reckon within theKitchen Appliance Industry. With customers spanning 43 Nations we continue to hold themarket's attention with intelligently-designed products that excel at the intersection ofform function and nesse. We have been steadily moving up the value chain and capturingthe brand mind space of Niche Consumer Segments across all the categories we are presentin be it our Quartz Sinks Stainless Steel Sinks Wash Basins or Bath Fittings.
In the year under review our growth strategy translated into healthy financialperformance. Your Company posted a
64.62% increase in the Consolidated Earnings Per Share and a
53.5% rise in Consolidated Pro t After Tax. Brand Sternhagen particularly performedextremely well recording 83.5% increase in sales.
Acrysil prides itself in being the custodian of renowned brands CarysilTekCarysil and Sternhagen. Over the years these brands have found a pride of place amongthe mind space of In uencers as well as Consumers. Carysil Quartz
Sinks are sold to discerning Customers across the World. TekCarysil featuring High-endKitchen Sinks is synonymous with best-in-class design style and quality. Sternhagensymbolises the pinnacle of luxury in design and engineering and is set to rede ne theLuxury Bathroom Segment in India and beyond.
The key drivers of growth are our People. We are putting in place talent of the highestcalibre and further nurturing their talent with tools that can boost productivity. In thefinancial year we conducted a slew of Employee Development Programs such as Kaizen'Training Session and Time Management Workshop.
Our thrust on creating products par excellence bestows upon us the opportunity to caterto the Global Market with utmost con dence and success. Be it USA UK Germany France
Canada China Far East or Gulf countries - our brands have strengthened their positionacross the Globe. In the financial year we penetrated into five new markets namelyElSalvador Italy Mexico Saudi Arabia and UAE. Going ahead we remain committed to spreadour footprint across 70 Countries.
Changing consumer lifestyles increasing Customer awareness growing working populationbase rising women workforce growing personal disposable income levels and availabilityof a number of financing alternatives trends suggest that the Kitchen Appliance Market inIndia is expected to multiply manifold.
It is with this readiness that we at Acrysil reiterate our commitment to cross the cuspof high growth. Expanding our manufacturing capacity and distribution strength is vitaltowards reaching a higher growth trajectory. This year we
agged o our capacity expansion process to raise the Quartz
Sinks production by 25%. We have collaborated with 100 new dealers and also joinedhands with Schock GmbH Germany for exclusive distribution of Kitchen Sinks in India. Westand strong in fast-tracking the pace of growth. While it took us two-and-a-half decadesto clock its first Rs100 crore revenue the second Rs100 crore revenue milestone wasachieved in five years. Similarly the third such milestone will be recorded soon.
Going ahead we look forward to introduce a series of new products. TekCarysil plans tolaunch a super-premium range of Sinks and Appliances which will complement thespecifications of modular kitchens. We will also launch an economical range for the HotelSegment under Sternhagen.
In a design-driven industry like ours thinking out of the box is a prerequisite. Ourfocus has been in being innovative across all the stages of design product developmentmanufacturing and marketing. Our brands concentrate on constantly reimagining the Kitchenand Bathroom experience for the user and focus on ner nuances by using and inventing newmaterials and technologies that ally art to engineering.
In the financial year our teams triggered some disruptive innovations in the Market.We became the First Company in the World to execute moulding of a 90o ApronSink made of composite quartz. We also began the manufacturing of 3D composite Wall Tilesbecoming the First Company in Asia and the Second Company in the World to do so.
Acrysil has diversi ed into Stainless Steel Sinks Faucets Food
Waste Disposer and Kitchen Appliances like Hobs and Cook Tops Oven Wine ChillersDishwashers etc. Through our wholly-owned subsidiary Homestyle Products Limited (HSL) UKwe provide holistic kitchen solutions to our customers in the
UK markets by offering faucets and other allied products over and above Quartz andSteel Sinks. Under the tutelage of Acrysil HSL's turnover has turned around to GBP 4.5million in FY18 from GBP 2 million when we acquired it in FY15. Acrysil prides itself inbeing one of the few Indian companies in the Industry to acquire a foreign company only toboost its performance.
With a comprehensive growth strategy in place we stand a rmative on strengthening ourposition in the Country as well as across the World. In a rapidly changing businessenvironment what has remained constant is our focus on nurturing our relationship withour Investors Customers In uencers Distributors
Employees and Community.
I thank you all for supporting us in our journey.