As part of the agreement, Carysil will dedicate its production capacity to meet a minimum commitment of 1,50,000 Quartz kitchen sinks per annum, starting from May 2025, the company said in a stock exchange filing.
To support the increased production capacity, Carysil will make an initial investment of approximately $510,000. This investment will be used for enhancing its manufacturing infrastructure, including the purchase of molds, machinery, and utilities, Carysil informed the stock exchanges.In August, Carysil announced that its wholly-owned subsidiary, Carysil UK Ltd, has decided to acquire
the remaining 30% equity stake in Carysil Brassware Ltd, a UK-based company previously known as The Tap Factory Ltd.The acquisition, valued at £3,50,000, will result in Carysil Brassware becoming a fully owned subsidiary of Carysil UK. Carysil UK had initially acquired a 70% stake in Carysil Brassware in April 2023 for £1.16 million, based on an enterprise value of £1.65 million. The agreement included an option for Carysil UK to purchase the remaining 30% stake between April and July 2026, with the valuation based on a 6x EBITDA multiple.
Carysil’s quarterly net profit for the three-month period ended December 2024 stood at ₹12.5 crore, a decline of 18.48% compared to ₹15.33 crore in December 2023.
Meanwhile, net sales for the December quarter reached ₹203.12 crore, an increase of 8.07% from ₹187.96 crore in December 2023.
Shares of Carysil were trading 2.21% higher at ₹516.65 apiece on the BSE at 10:57 am.
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