CARYSIL LIMITED

Manufactures kitchen and bathroom products — primarily quartz sinks, stainless steel sinks, built-in kitchen appliances, faucets, and surfaces — and sells these globally to OEM clients such as Home Depot, GROHE, Kohler, and Häfele, while also building a domestic India business under its own brand. In FY26 it reported total income of INR 923.95 crore with EBITDA margin of 20.473% and PAT of INR 98.97 crore. The shift in strategy is from a single-product quartz sink maker to a multi-category kitchen and bathroom solutions provider, with simultaneous capacity builds underway across all product lines. Quartz sink capacity is being expanded by 250,000 units to reach 1.25 million units by Q4 FY27, stainless steel sink capacity has just been raised from 180,000 to 250,000 units per annum (a 39% increase funded at INR 6.7 crore), and a new 100,000-unit built-in appliances plant is being built in two phases by FY28. Management has set an India revenue target of INR 500 crore within 5 years from the current INR 175 crore base (requiring 30–40% CAGR), and is guiding 15–20% revenue growth with 18–20% EBITDA margin for FY27. The biggest cost line is raw materials at 37.5% of revenue, with MMA (methyl methacrylate) pricing for quartz sinks flagged as a specific pressure — prices up 25–35% recently, with partial pass-through to customers.