Monday , September 20 2021

Acrysil soars on expanding Quartz Sinks capacity

Acrysil is currently trading at Rs. 649.15, up by 31.85 points or 5.16% from its previous closing of Rs. 617.30 on the BSE.

The scrip opened at Rs. 636.05 and has touched a high and low of Rs. 665.60 and Rs. 636.05 respectively. So far 23631 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 712.00 on 06-Aug-2021 and a 52 week low of Rs. 96.10 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 665.60 and Rs. 585.00 respectively. The current market cap of the company is Rs. 1647.87 crore.

The promoters holding in the company stood at 44.04%, while Institutions and Non-Institutions held 6.53% and 49.43% respectively.

Acrysil has further expanded production capacity by an additional 160,000 Quartz Sinks p.a. through Greenfield Project at Bhavnagar in Gujarat. Thus taking the Overall Capacity to 1,000,000 sinks (1 million sinks) p.a.

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 approximately 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.

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