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 27.3
Book Value ₹ 63.1
Dividend Yield 0.39 %
ROCE 16.5 %
ROE 15.2 %
Face Value ₹ 2.00

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Pros

Company has delivered good profit growth of 20.42% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 18.09%

Cons

Company has a low return on equity of 13.28% for last 3 years.

Peer comparison

Sector: Consumer Durables Industry: Ceramics - Tiles / Sanitaryware

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020
	51	60	64	62	65	68	71	73	64	46	76	87
	44	50	53	52	56	56	58	61	55	36	60	67
Operating Profit	6	10	11	10	9	12	12	12	10	10	16	20
OPM %	12%	17%	17%	17%	14%	18%	17%	17%	15%	21%	21%	23%
Other Income	2	1	2	-2	1	0	1	2	2	1	2	0
Interest	2	3	3	1	2	2	3	2	2	2	2	2
Depreciation	2	2	2	2	2	2	3	3	4	3	3	3
Profit before tax	3	6	8	5	6	8	7	9	6	6	13	16
Tax %	28%	27%	24%	37%	25%	28%	24%	25%	23%	24%	26%	23%
Net Profit	2	4	6	3	4	6	6	7	4	5	9	12
EPS in Rs	0.93	1.68	2.20	1.17	1.60	2.22	2.14	2.55	1.46	1.72	3.52	4.53
	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes	Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	TTM
	55	63	80	106	127	174	181	196	252	276	273
	45	55	66	87	103	143	154	169	209	229	218
Operating Profit	11	8	14	19	24	31	27	27	42	48	55
OPM %	19%	13%	17%	18%	19%	18%	15%	14%	17%	17%	20%
Other Income	0	1	1	1	1	2	3	5	2	5	5
Interest	1	3	4	5	8	9	11	8	12	10	7
Depreciation	3	4	4	5	4	5	6	7	9	12	12
Profit before tax	7	2	6	10	13	18	13	17	24	30	40
Tax %	23%	13%	22%	25%	32%	32%	37%	28%	28%	25%
Net Profit	5	2	5	8	9	11	7	12	17	22	30
EPS in Rs	2.29	0.73	2.17	3.43	3.75	4.21	2.80	4.61	6.65	8.27	11.23
Dividend Payout %	23%	73%	30%	23%	21%	24%	36%	22%	18%	15%

Compounded Sales Growth
10 Years:	%
5 Years:	17%
3 Years:	15%
TTM:	-1%

Compounded Profit Growth
10 Years:	%
5 Years:	20%
3 Years:	45%
TTM:	34%

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

Return on Equity
10 Years:	%
5 Years:	13%
3 Years:	13%
Last Year:	15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Sep 2020
	3	3	4	5	5	5	5	5	5	5	5
Reserves	22	22	23	29	37	74	107	113	128	152	163
Borrowings	21	23	31	39	73	67	80	92	97	102	84
	14	13	20	24	32	52	41	50	61	65	78
Total Liabilities	60	61	79	97	147	199	233	260	291	325	330
	21	28	32	35	58	67	98	111	119	125	128
CWIP	6	0	0	2	4	2	2	2	4	9	7
Investments	0	0	0	0	0	0	0	0	0	0	0
	33	33	46	60	85	131	132	146	168	191	194
Total Assets	60	61	79	97	147	199	233	260	291	325	330

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
	3	6	2	6	7	11	6	16	24	30
	-12	-5	-7	-9	-27	-13	-14	-20	-17	-19
	8	-0	6	4	25	19	2	-0	-4	-10
Net Cash Flow	-0	1	1	0	5	17	-6	-5	2	1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2011	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020
ROCE %		10%	19%	23%	22%	21%	14%	12%	16%	17%
Debtor Days	107	89	97	86	93	89	77	89	79	82
Inventory Turnover		2.55	2.46	2.26	1.90	2.19	1.94	1.96	2.38	2.25

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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