Capital Market Last Updated at August 31, 2021 09:04 IST
Acrysil announced further expansion of production capacity by an additional 160,000 quartz sinks per annum (p.a.) through greenfield project at Bhavnagar 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 38 crore 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.
Chirag Parekh, Chairman & Managing Director, Acrysil said: 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., which is progressing as per schedule."
Shares of Acrysil rose 5.02% to settle at Rs 617.30 yesterday, 30 August 2021.
Acrysil is engaged in manufacturing of composite quartz sinks. The company is also into manufacturing of stainless-steel kitchen sinks with the core focus on designer quadro sinks and dealing into a complete range of built-in kitchen appliances under own 'Carysil' brand having varieties of kitchen chimneys, dishwashers, cook-tops, built in ovens, wine - chillers etc. The company also offers bathroom solutions like premium sanitary ware, washbasins, composite 3D tiles to name a few under its 'Sternhagen' brand.
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