Strategic U.S. Partnership: Indian Quartz Sink Manufacturer Expands Global Reach
The stock's 52-week high and low are Rs 1,036 and Rs 487, respectively, with a PE ratio of 29.
Carysil Limited, a prominent player in the global kitchen sink manufacturing industry, has announced a significant agreement with Karran Inc., USA. This collaboration is set to supply Quartz kitchen sinks to a major US home retail chain with approximately 1,800 stores across the United States. Carysil, known for its advanced German technology in manufacturing, will dedicate a production capacity of 1,50,000 Quartz sinks per annum starting May 2025. An initial investment of approximately USD 5,10,000 (Rs 4.5 crore) will be made towards molds, machinery, and utilities to support this production.
The partnership, which began in 2017, marks a crucial milestone for Carysil, enhancing its presence in the U.S. market. Mr. Chirag Parekh, Chairman & Managing Director of Carysil, expressed enthusiasm about this development, emphasizing the company's commitment to high-quality products and expanding its global market share. This agreement further solidifies Carysil's position in the kitchen and home improvement sector, leveraging its expertise in manufacturing and innovative design.
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Company Overview
Carysil Limited, established in 1987, is one of Asia's largest manufacturers of Composite Quartz Sinks. The company operates a manufacturing plant in Bhavnagar, Gujarat, with a total installed production capacity of 1,000,000 sinks annually. In addition to Quartz sinks, Carysil produces stainless steel Kitchen Sinks and a range of kitchen appliances under the "Carysil" brand.
The company also offers bathroom solutions through its "Sternhagen" brand. As of now, Carysil's stock is priced at Rs 605.6, with a market capitalisation of Rs 1,800 crore. Over the past year, the stock has experienced a return of negative 33 per cent and negative 15 over three years. The stock's 52-week high and low are Rs 1,036 and Rs 487, respectively, with a PE ratio of 29.
Disclaimer: The article is for informational purposes only and not investment advice.