You are here » Home » Companies » Company Overview » Acrysil Ltd

Acrysil Ltd.

BSE: 524091 Sector: Consumer
NSE: ACRYSIL ISIN Code: INE482D01024
BSE 10:51 | 23 May 601.90 -9.10
(-1.49%)
OPEN

624.00

HIGH

624.00

LOW

600.00

NSE 10:39 | 23 May 604.00 -5.15
(-0.85%)
OPEN

619.00

HIGH

619.00

LOW

600.15

OPEN 624.00
PREVIOUS CLOSE 611.00
VOLUME 7920
52-Week high 935.00
52-Week low 339.30
P/E 31.19
Mkt Cap.(Rs cr) 1,607
Buy Price 600.60
Buy Qty 28.00
Sell Price 602.55
Sell Qty 4.00
OPEN 624.00
CLOSE 611.00
VOLUME 7920
52-Week high 935.00
52-Week low 339.30
P/E 31.19
Mkt Cap.(Rs cr) 1,607
Buy Price 600.60
Buy Qty 28.00
Sell Price 602.55
Sell Qty 4.00

Acrysil Ltd. (ACRYSIL) - Chairman Speech

Company chairman speech

Dear Shareholders

The year 2020 was full of uncertainty intensity and presented unprecedented challengesto public health and safety due the novel Coronavirus (Covid-19) outbreak. The pandemicemerged as the biggest threat to mankind as well as the economic growth. The survival hastaken precedence over growth. Our thoughts go out to those who have lost their loved oneand also who suffered worst economic impact of the pandemic. We salute our doctorspara-medical staff and all frontline workers who stood by tirelessly ensuring our safetyand well-being. We also salute our scientists who developed vaccines in record time and weare confident that the widespread deployment of vaccines will lead to improved sentimentsand progression in the country.

Dedicated to Deliver

Despite the disruption I feel proud to say that our Company responded with aptness andresilience. I wish to applaud efforts of our employees who have shown great dedication andcourage to work with full potential during this pandemic. Overall our approach has beendriven by twin objectives throughout this crisis period. Firstly ensuring employee healthand safety with service continuity for customers. Secondly protecting our margins despitethe lockdown and restrictions imposed. We have achieved an annual turnover of Rs. 310Crore EBITDA at Rs. 74 Crore and PAT at Rs. 39 Crore registering a strong YoY growth of12% 44% and 72% respectively. Moreover I am extremely delighted to state that we havesuccessfully surpassed our short term turnover target of Rs. 300 Crore. We are alsogetting closer to achieve our mid-term target of Rs. 500 Crore . The multi-fold impact ofCovid-19 prompted us to realign our strategies in order to overcome the sudden challengesand drive the business forward. Our team dedication and determination is once again provenby delivering results beyond expectations. We are firmly focused on our vision to be theworld’s most innovative Kitchen Sink Company and sustain profitable growth. Ouruncompromising commitment to fulfill the unmet consumer demand and our perseverance todeliver better each in every way continues to be the corner stone of our success over theyears.

Change is Inevitable

The pandemic changed the way people live shop travel and socialise. A shift inconsumption was noticed where the disposable income from travel and leisure activitieswas diverted into home improvement activities with enhanced focus on health hygiene andsafety. This behavioural shift in consumer preferences is here to stay for a longer time.Globally people have accepted this new normal as an integral part of life and nowit’s ‘ABSOLUTELY NORMAL’. Working from home adopting sanitation desirefor products with aesthetics accompanied by health hygiene and innovation is new way oflife and not a temporary blip. In most markets home construction and existing home saleshave been on a rise. As per recent data close to 74 Million Americans have remodelledtheir homes in 2020 and close to 16 Million people are likely to purchase new homes.(Source:Comscore)

Acrysil stands to benefit from the increasing demand of home improvement products. Ourinnovative differentiated smart and sustainable products enhance the comfort as well asthe elegance quotient. We foresee the demand to sustain and continue over the long-termmaking us more confident in our ability to deliver growth consistently in the comingfuture.

Response Strategies

The founding stone of Acrysil rests on customer satisfaction. At Acrysil we continue toembrace cutting-edge technologies drive innovations and foster collaborations to delivernew models and variants that customers aspire to possess. During the year we continued tofocus on our core strength of innovation and expansion to offer value-added high qualityproducts to our customers across the globe.

We have been consistently expanding our production capacities in response to the spurtin demand. Over the past 18 months we have increased our Quartz sink manufacturingcapacity at Bhavnagar plant by 40% to 700000 units annually. Besides we further haveRs. 15 Crore capex on the anvil in further scaling up the capacities from 700000 unitsto 840000 units in the current FY 2022. Our state-of-the-art Physical Vapor Deposition(PVD plant) at Bhavnagar has also been commissioned with an annual capacity of 50000units. The plant will add significant sink offerings by proving colurful metallic finishand glamour.

We are strategically expanding our distribution base and offering extended touchpointsfor customers to experience the luxury of our products. We are also focusing on increasingexports of our stainless steel sinks.

Tie-ups and Collaborations

We entered into a strategic partnership with IKEA Supply AG Switzerland formanufacturing and supply of Quartz Kitchen

Sinks to meet their global requirement. IKEA is recognised as one of the leadingplayers in the home improvement products. This partnership is a testament of ourcommitment and global standards of our products. Our association with GROHE (leadingGerman sanitary brand) in 2019 for supply of stainless steel kitchen sinks aftersuccessful association for Composite Quartz Sinks is another example of customersatisfaction quality product delivered. With ‘Carysil‘ & ‘Sternhagen‘brand your Company is confident towards a future of consistent success and valuecreation. For Carysil ‘ ‘ we have received huge response throughomni-channel sales. Besides we have also established tie-ups with reputed retailers inthe home improvement sector as well. Under the ‘Sternhagen ‘ brand wehave received a rousing reception for the SH series launched last year. We havealso partnered with Sussanne Khan to launch a premium line of products.

Innovation – the DNA of our Growth

Innovation and R&D is the DNA of the Company. Technology married with creativeideation have resulted in innovative and smart products for the consumer. We have enhancedour manufacturing process by introducing touch panels in our casting unit which ensuresexcellent quality and reduces cycle time. We have redesigned our sinks to make them morewaste collection efficient. We have also introduced plastic-free packaging aligning toour philosophy to protect the environment and make the world a sustainable place forliving. The innovative products launched last year right from the anti-bacterial sinks tothe chimney’s with motion sensors have witnessed huge demand in the market.

Recognition and Achievement

Our relentless commitment resulted in Acrysil being recognised by Forbes and featuresunder the ‘Best under a Billion 2020’ list from the Asia Pacific region amongthe small and mid-sized corporates. Acrysil has qualified the stringent criteria likerobust governance geographic diversity and exceptional performance to achieve thisstature. We also got listed in NSE bourses in the month of January 2021.

Atmanirbhar Acrysil

We have imbibed in our philosophy the broader vision of the country to be self-reliantright from raw material procurement to delivery of final products. We are focusing onincreasing in- to our stainless house manufacturing of more kitchen appliances which arecurrently imported. We are also looking at sourcing raw materials indigenously to reduceexternal dependence.

Our People

We are a growing global Company recognised as a trusted brand known for providinginnovative and niche products. This has only been possible by the dedicationdetermination and passion of all the individuals coming together to turn thoughts intoideas and ideas into reality. At Acrysil our people work each day to offer customersdifferent each time. Their capabilities and the penchant for R&D and innovation issomething that gives us a solid edge in our space. We foster a culture where everylike-minded individuals can thrive and reach their full potential.

Outlook

Our philosophy and values have created a resilient and fast-paced enterprise over thelast three decades. Our world class array of products have a firm foothold both in Indianand in global markets. Our demand and influence in various geographies through ourdistributor networks and cost-effective approaches continues to be dominant. Going aheadwe target to take our distributor network to 100+ and add 30+ new galleries and spreadwings to 70+ countries. Our forward journey will be largely characterised by fasterresponse to the customers’ evolving requirements across luxury premium and economycategories. Lastly I would like to express my sincere gratitude to all the shareholderscustomers suppliers distributors government and local authorities for their continuedsupport. This gratitude also extends to our family of employees whose undaunted supportand hard work enabled us to deal with challenges and emerge as leaders.

Stay Safe!

Yours Sincerely

Chirag A. Parekh

Chairman and Managing Director

.