CARYSIL LIMITEDConsumer GoodsCARYSIL
Q1 FY27 concall · earnings callCARYSIL LIMITED
Carysil delivered strong Q1 profitability growth driven by operating leverage, product mix, and scale, while maintaining margin guidance and seeing a strong order pipeline across domestic and export markets.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Total Income | ₹264.8 Cr | 16.5% YoY | |
| EBITDA | ₹56 Cr | 27% YoY | |
| EBITDA Margin | 21.2% | 175 bps YoY | |
| PAT | ₹31.4 Cr | 37.7% YoY | |
| EPS | INR 11.05 | 37.6% YoY | |
| Domestic Sales | ₹56 Cr | 39.8% YoY |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹203.12 Cr+8.1% YoY-1.9% QoQ | ₹12.53 Cr-18.3% YoY-26.8% QoQ | ₹4.37-23.6% YoY-26.2% QoQ |
| Q2 FY25 | ₹207.07 Cr+26.6% YoY+2.9% QoQ | ₹17.11 Cr+9.6% YoY+7.9% QoQ | ₹5.92+2.8% YoY+0.2% QoQ |
| Q1 FY25 | ₹201.20 Cr+42% YoY+5.6% QoQ | ₹15.85 Cr+35.9% YoY+0.6% QoQ | ₹5.91+36.8% YoY+2.1% QoQ |
| Q4 FY24 | ₹190.53 Cr+30.9% YoY+1.4% QoQ | ₹15.76 Cr+26.1% YoY+2.7% QoQ | ₹5.79+24.8% YoY+1.2% QoQ |
| Q3 FY24 | ₹187.96 Cr+36.4% YoY+14.9% QoQ | ₹15.34 Cr+26.5% YoY-1.7% QoQ | ₹5.72+27.1% YoY-0.7% QoQ |
TL;DR
- Consolidated revenue grew 16.5% YoY to INR 264.8 crores, with EBITDA up 27% and margins expanding.
- Domestic sales grew 39.8% YoY, outpacing exports, with volume growth and premiumization across all categories.
- Export business gained traction with new partnerships like Hafele Australia and Amazon USA, though UK market faces near-term softness.
- Capacity expansions for quartz and stainless steel sinks are on track for completion by end of FY27.
- Management maintains FY27 revenue guidance of 15% and EBITDA margin at the upper band of 18-20%.
- Capex for the year is estimated at INR 80-90 crores, focused on core sink expansion.
Said on the call
“Our objective is not to maximize one quarter earnings. Our objective is to build Carysil into a global kitchen solution company with sustainable double-digit growth and industry-leading margins.”
From the Q&A
| Topic | What management said |
|---|---|
| Quartz & UK Growth Challenges | Logistics disruptions and container delays impacted quartz sink dispatches; UK market is in a 'tight phase' but new customer breakthroughs are expected to improve momentum in coming quarters. |
| Price Hikes & Margins | No specific price hikes cited; margin improvement attributed to operating leverage, rollback of US discounts, and a shift towards premium product mix, leading to higher ASPs. |
| Capacity Utilization | Stainless steel capacity of 250,000 units is at ~94% utilization; the added 70,000 units came mid-quarter. Quartz capacity utilization was 88% for the quarter, reaching 90% in June. |
| Faucet Business Focus | Over 95% of faucet revenue is from India; the acquired UK faucet company's technology (RO water system) is being leveraged for the domestic market, with exports to be ramped up after quality upgrades. |
| B2B Project Sales in India | B2B accounts for ~20% of domestic sales, includes builders; focus is on premium products for builders who demand quality, with growth aided by the trend of bare-shell apartments. |
| Revenue & Volume Guidance | FY27 revenue guidance is 15% value growth; management clarified that volume growth guidance is also ~15% annually, with value growth potentially higher if price improvements sustain. |
| Capex Plans | FY27 capex is INR 80-90 crores, with INR 40-50 crores for quartz sink expansion, ~INR 20 crores for stainless steel, and ~INR 20 crores for faucets and appliances. |
Guidance
- Maintain FY27 revenue growth guidance of 15%.
- Maintain FY27 EBITDA margin guidance of 18-20%, currently tracking towards the upper band.
- Volume growth guidance is also ~15% for FY27.
- Quartz sink expansion of 250,000 units on track for completion by end of FY27.
- Expect e-commerce sales in India to grow 3x this year.
Source
Summary written from the transcript filed by CARYSIL LIMITED for the call held on 11 Aug 2026; published 18 Aug 2026, 19:02 IST.
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