Acrysil Limited to expand capacity of Quartz Kitchen Sinks

Acrysil Limited, largest manufacturer of "Quartz Kitchen Sinks" in India and Asia, has announced that the Company will be expanding its production capacity of its Quartz Kitchen sinks by another 100,000 units at its Bhavnagar plant in Gujarat. The proposed capex will increase the manufacturing capability of Quartz Kitchen sink to 700,000 units per annum.

The purpose of the expansion is to meet the increasing demand of quartz kitchen sink in international and domestic market. The proposed CAPEX would involve investments in Land & building, plant & machinery and other infrastructure. The total Capital Expenditure envisaged is approximately Rs.30 crores. The expansion project is likely to be commissioned by June - 2021. The CAPEX will be financed by mix of internal accruals and debt.

Update on the existing capacity expansion projects:

- In August 2020, Company had planned a capacity expansion for manufacturing of Quartz sinks by 100,000 units. The work for this expansion has been completed and we will commence the production for the same in February 2021.

Commenting on the above, Mr. Chirag Parekh, Chairman & Managing Director, Acrysil Limited said: "The company has been witnessing a strong demand for its products in both international and domestic market. We had earlier envisaged the surge in demand and had decided to expand our capacities by 100,000 units in August 2020. The work for the same has been completed and we shall commence production soon. However, looking at the current demand scenario and the future potential, we have taken a decision to expand our capacity by additional 100,000 units, which will enable us to meet the growing requirements of our customers.

At Acrysil, we are continuously striving to strengthen our product offerings with introduction of new models and variants. We continue to focus on our core strength of innovation and offer value added, quality products to our customers across the globe. We are optimistic about future demand of our products and are preparing to seize the opportunity."

Shares of ACRYSIL LTD. was last trading in BSE at Rs.209.05 as compared to the previous close of Rs. 199.1. The total number of shares traded during the day was 156380 in over 1474 trades.

The stock hit an intraday high of Rs. 209.05 and intraday low of 198. The net turnover during the day was Rs. 32260984.

Source : Equity Bulls

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