Acrysil Ltd

acrysilcorporateinfo.com BSE: 524091 NSE : ACRYSIL

About [ edit ]

Acrysil is engaged in manufacturing and trading of Quartz Kitchen Sinks, Stainless Steel Kitchen Sinks, Bath Products, Tiles, Kitchen Appliances and Accessories.(Source : 201903 Annual Report Page No: 112)

Key Points [ edit ]

Only Quartz Sink Manufacturer in Asia ^#
Acrysil is the only "Composite Quartz Sink" manufacturer with the German Technology that is patented by Schock; only four other companies in the world have the license to use this technology.^#

Quartz Sink Capacity of 5,00,000 ^#
Acrysil has a total quartz sink capacity of 5L units. Apart from that, the company also has a Stainless Steel sinks capacity of 90,000 per annum. The global capacity of "composite quartz sink" is around 50-55L; which gives a global market share of 9-10% to Acrysil. The company has enough land bank to reach 8L-9L sinks in the existing land. ^#

Expansion of Sink capacity ^#
Acrysil has constantly enhanced its quartz sink capacity from 2.25L units in FY12 to 5L units at the end of FY20. The company is going for another 20% expansion by adding 1L units to cater the demand of global customers.

Deal with IKEA ^#
Entered into a strategic partnership with IKEA Supply AG (Switzerland) for manufacturing and supply of composite quartz kitchen sinks for their global requirement. Acrysil will start with Easter European countries and Russia first and will then slowly move into other geographies. ^#

Geographical & Product Break-up^#
The company gets around 80% revenues from export markets and 73% of total revenues come from quartz sink.

Website BSE NSE

Market Cap ₹ 820 Cr.
Current Price ₹ 307
High / Low ₹ 335 / 54.0
Stock P/E 39.7
Book Value ₹ 51.5
Dividend Yield 0.39 %
ROCE 13.0 %
ROE 10.5 %
Face Value ₹ 2.00

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Pros

Company has been maintaining a healthy dividend payout of 30.66%

Cons

Stock is trading at 5.96 times its book value
Company has a low return on equity of 9.24% for last 3 years.

Peer comparison

Sector: Consumer Durables Industry: Ceramics - Tiles / Sanitaryware

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
	41.13	48.06	50.67	50.58	49.44	54.19	54.84	55.43	49.92	36.16	61.22	70.43
	36.74	40.09	43.53	42.03	43.90	45.47	46.60	46.68	43.71	27.65	49.82	55.13
Operating Profit	4.39	7.97	7.14	8.55	5.54	8.72	8.24	8.75	6.21	8.51	11.40	15.30
OPM %	10.67%	16.58%	14.09%	16.90%	11.21%	16.09%	15.03%	15.79%	12.44%	23.53%	18.62%	21.72%
Other Income	1.67	1.08	2.45	-1.65	0.86	0.42	1.00	1.84	1.73	1.07	1.89	0.40
Interest	2.39	2.06	2.83	0.89	1.79	1.89	2.16	1.73	1.99	1.69	1.46	1.36
Depreciation	1.72	1.80	1.88	1.93	2.07	2.18	2.83	2.65	3.26	2.53	2.65	2.95
Profit before tax	1.95	5.19	4.88	4.08	2.54	5.07	4.25	6.21	2.69	5.36	9.18	11.39
Tax %	36.41%	26.78%	28.28%	32.35%	31.89%	29.78%	28.47%	27.38%	36.80%	25.19%	29.08%	25.99%
Net Profit	1.24	3.80	3.50	2.76	1.73	3.55	3.03	4.50	1.70	4.01	6.51	8.43
EPS in Rs	0.48	1.47	1.35	1.07	0.67	1.37	1.16	1.69	0.64	1.50	2.44	3.16
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
	51	45	55	62	78	104	116	139	141	154	199	214	218
	37	35	44	52	65	86	95	120	124	136	168	182	176
Operating Profit	13	11	12	10	13	18	21	19	18	18	31	33	41
OPM %	26%	24%	21%	16%	17%	17%	18%	14%	12%	12%	15%	15%	19%
Other Income	0	1	0	1	1	1	1	2	3	5	3	5	5
Interest	2	1	2	2	3	4	5	6	6	7	9	8	6
Depreciation	2	3	3	3	4	4	4	5	5	6	8	11	11
Profit before tax	9	7	8	5	7	11	13	11	10	10	17	18	29
Tax %	18%	21%	20%	26%	23%	24%	28%	36%	37%	35%	29%	30%
Net Profit	7	6	6	4	6	8	9	7	6	6	12	13	21
EPS in Rs	3.46	2.64	2.70	1.76	2.47	3.55	4.07	2.72	2.42	2.47	4.54	4.79	7.74
Dividend Payout %	15%	20%	20%	30%	27%	23%	20%	37%	41%	40%	26%	25%

Compounded Sales Growth
10 Years:	17%
5 Years:	13%
3 Years:	15%
TTM:	2%

Compounded Profit Growth
10 Years:	8%
5 Years:	6%
3 Years:	27%
TTM:	61%

Stock Price CAGR
10 Years:	36%
5 Years:	24%
3 Years:	42%
1 Year:	165%

Return on Equity
10 Years:	12%
5 Years:	9%
3 Years:	9%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Sep 2020
	3	3	3	3	4	5	5	5	5	5	5	5	5
Reserves	13	18	23	25	27	34	42	76	97	100	109	125	132
Borrowings	13	9	17	19	27	37	54	47	61	76	83	84	74
	10	13	13	12	17	22	23	38	28	39	46	51	58
Total Liabilities	39	43	55	58	76	97	123	166	191	219	243	265	269
	15	18	20	21	25	28	34	37	61	73	82	87	90
CWIP	1	1	0	0	0	1	2	2	2	2	3	6	5
Investments	0	0	0	1	5	7	13	14	14	14	14	14	14
	23	25	34	36	46	61	75	113	114	130	144	158	160
Total Assets	39	43	55	58	76	97	123	166	191	219	243	265	269

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
	6	9	3	7	3	7	13	1	-1	8	20	21
	-7	-5	-6	-4	-11	-10	-16	-7	-11	-17	-16	-16
	0	-4	2	-3	8	3	6	21	6	5	-3	-6
Net Cash Flow	-0	0	-0	0	1	0	3	15	-5	-4	1	-1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2009	Mar 2010	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %	45%	29%	25%	17%	20%	22%	21%	15%	11%	10%	14%	13%
Debtor Days	73	87	107	87	93	86	86	90	77	96	81	87
Inventory Turnover	2.82	1.77	2.07	2.73	2.66	2.51	2.21	2.33	2.02	2.08	2.01	1.86

Shareholding Pattern

Numbers in percentages

Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
42.42	42.42	42.42	42.42	42.42	42.42	42.84	44.04	44.04	44.04	44.04	44.04
0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.73	1.73	1.73	7.09
0.72	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
56.86	57.57	57.57	57.57	57.57	57.57	57.16	55.95	54.23	54.23	54.23	48.87

Acrysil Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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Annual reports

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