Acrysil Limited announces Capacity Expansion of Quartz Kitchen Sinks by additional 140,000 units p.a.

Acrysil Limited ("The Company"), largest manufacturer of "Quartz Kitchen Sinks" in Asia with German technology, has announced expansion of production capacity of Quartz Kitchen Sinks from 700,000 units p.a. to 840,000 units p.a. i.e. an additional capacity of 140,000 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 involves an investment of Rs.15 Crores approx. which would involve investments in Plant & Machinery, Utilities and other infrastructure. The project is likely to be completed by Q3 FY2022 and will be financed by mix of internal accruals and debt.

Commenting on the above, Mr. Chirag Parekh, Chairman & Managing Director, Acrysil Limited said: "The Company has been witnessing strong demand for Quartz Kitchen Sinks in the global market. We have increased our production capacity from 500,000 units p.a. to 700,000 units p.a. in 2021. Now, in order to meet the growing demand globally and recent tie-ups, we have decided to further expand our production capacity by additional 140,000 units p.a. i.e. an increase from 700,000 units p.a. to 840,000 units p.a. by Q3 FY2022.

At Acrysil, we are continuously focusing on meeting customer demands by providing them with new models and new variants. We continue to focus on our core strength of innovation and expansion to offer value added, high quality products to our customers across the globe. We are optimistic about sustainable demand of our Quartz Kitchen Sinks."

Shares of ACRYSIL LTD. was last trading in BSE at Rs.562 as compared to the previous close of Rs. 573.5. The total number of shares traded during the day was 35360 in over 2856 trades.

The stock hit an intraday high of Rs. 594 and intraday low of 553. The net turnover during the day was Rs. 20289216.

Source : Equity Bulls

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