Acrysil Limited announces further expansion of Quartz Sinks capacity

Acrysil Limited ('The Company'), largest manufacturer of 'Quartz Kitchen Sinks' in Asia with German Technology, has announced further expansion of production capacity by an additional 160,000 Quartz Sinks p.a. through Greenfield Project at Bhavnagar in Gujarat. Thus taking the Overall Capacity to 1,000,000 sinks (1 million sinks) p.a.

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.38 Crores approx. in Land & Building, Moulds, Plant & Machinery, Utilities, warehouse and other related infrastructure. The project is likely to be completed by Q1 FY2023 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. As on date we have production capacity of 700,000 units p.a. We had announced expansion of production by 140,000 units p.a. vide our announcement dated 28th June, 2021, which is progressing as per schedule. Considering the growing demand globally, we have decided to set-up Greenfield Project to expand our production capacity by additional 160,000 units p.a. With the proposed expansion our total production Capacity will be 1,000,000 sinks (1 million sinks) p.a. by Q1 FY 2023.

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. 617.3 as compared to the previous close of Rs. 587.8. The total number of shares traded during the day was 24088 in over 1612 trades.

The stock hit an intraday high of Rs. 625.1 and intraday low of 600. The net turnover during the day was Rs. 14856009.

Source : Equity Bulls

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