Carysil Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Carysil Ltd filed with BSE on 14 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Carysil reported consolidated total income of Rs 264.8 crore in Q1 FY27, up 16.5% year on year, with EBITDA growing 27% and EBITDA margin expanding to 21.2%. Management said domestic sales grew 39.8% while exports grew 10.6%, and it attributed the margin improvement to operating leverage, product mix, and rollback of US price discounts. The company said it is maintaining its FY27 guidance of 15% revenue growth and 18%-20% EBITDA margin, while indicating it is tracking towards the upper end of that margin range.
Numbers mentioned
Consolidated total income: INR264.8 crores (Q1 FY27)
p. 6
“We have achieved consolidated total income of INR264.8 crores in Q1 FY27 as compared to INR227.3 crores in Q1 FY26, up by 16.5%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EBITDA: INR56 crores (Q1 FY27)
p. 6
“EBITDA for Q1 FY27 stood at INR56 crores as compared to INR44.1 crores in last year corresponding quarter, growth of 27%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EBITDA margin: 21.2% (Q1 FY27)
p. 6
“With EBITDA margin expanding by 175 basis points to 21.2% from last year 19.4%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EBIT: INR46.8 crores (Q1 FY27)
p. 6
“EBIT stood at INR46.8 crores, up by 31.2% year on year basis with EBIT margin improving by 198 basis points to 17.7%.”
Anand Sharma, page 6 of the filed PDF · View the filing
Profit after tax and minority interest: INR31.4 crores (Q1 FY27)
p. 6
“Profit after tax and minority interest stood at INR31.4 crores compared to INR22.8 crores in Q1 FY26, registering growth of 37.7% Y-o-Y basis.”
Anand Sharma, page 6 of the filed PDF · View the filing
PAT margin: 11.9% (Q1 FY27)
p. 6
“PAT margin improved by 183 basis points to 11.9%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EPS: INR11.05 (Q1 FY27)
p. 6
“Our EPS stood at INR11.05 as compared to INR8.03 in Q1 FY26, growth of 37.6%.”
Anand Sharma, page 6 of the filed PDF · View the filing
Quartz sink volume: 2.01 lakh units (Q1 FY27)
p. 6
“Quartz sink volume in Q1 FY27 increased by 6% Y-o-Y basis to 2.01 lakh units compared to 1.89 lakh units in Q1 FY26.”
Anand Sharma, page 6 of the filed PDF · View the filing
Stainless steel sink volume: 49.4 thousand units (Q1 FY27)
p. 6
“Stainless steel sink volume increased by 16% to 49.4 thousand units compared to 42.5 thousand units in last year.”
Anand Sharma, page 6 of the filed PDF · View the filing
Faucet volume growth: 43% (Q1 FY27)
p. 6
“Volume across faucet increased by 43% Y-o-Y to 12.5 thousand units compared to 8.7 thousand units in Q1 FY26.”
Anand Sharma, page 6 of the filed PDF · View the filing
Domestic sales growth: 39.8% (Q1 FY27)
p. 6
“Export from India operation grew by 10.6% in Q1 FY27 as compared to Q1 FY26 While domestic sales grew by 39.8% YOY.”
Anand Sharma, page 6 of the filed PDF · View the filing
India domestic sales: around INR56 crores (Q1 FY27)
p. 4
“India is increasingly becoming a key growth engine with domestic sales at around INR56 crores, up to almost 40% Y-o-Y, driven by 25% volume growth and 12% average price realization growth, reflecting premiumization and sustainable power mix.”
Chirag Parekh, page 4 of the filed PDF · View the filing
Quartz Sinks capacity utilization: 88% (Q1 FY27)
p. 4
“Our capacity stood at 88% during the first quarter.”
Chirag Parekh, page 4 of the filed PDF · View the filing
Stainless steel sinks capacity utilization: 94% (Q1 FY27)
p. 4
“The company combined the additional 70,000 annual capacity, taking now the capacity to 250,000 units, approximate capacity utilization of 94%.”
Chirag Parekh, page 4 of the filed PDF · View the filing
Segment revenue mix: quartz sink 51%, steel sink 12%, kitchen appliance 11.8%, surfaces 25% (Q1 FY27)
p. 15
“So on the revenue side, we have segment wise quartz sink is 51%, steel sink is 12%, kitchen appliance is 11.8%, surfaces is 25%.”
Anand Sharma, page 15 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — 15% · FY27
stated firmly by Chirag Parekh
p. 5
“As we said, we continue to maintain our revenue guidance of 15% and the upper side of the 18% to 20% EBITDA margin.”
Chirag Parekh, page 5 of the filed PDF · View the filing
EBITDA margin — upper band of 18% to 20% · FY27
stated conditionally by Chirag Parekh
p. 3
“However, based on quarter 1 performance and trends we are seeing, we currently see ourselves tracking towards the upper band of that guidance.”
Chirag Parekh, page 3 of the filed PDF · View the filing
Quartz sink capacity expansion — 250,000 units · end of FY27
stated firmly by Chirag Parekh
p. 4
“The expansion of 250,000 units are on track and we expect the same to be completed by end of FY27.”
Chirag Parekh, page 4 of the filed PDF · View the filing
E-commerce sales growth — 3x · this year
stated as an aspiration by Chirag Parekh
p. 5
“we expect e-commerce sales to grow by 3x this year.”
Chirag Parekh, page 5 of the filed PDF · View the filing
Capex for the year — INR80 to INR90 crores · current financial year
stated firmly by Chirag Parekh
p. 16
“Yes. So we are doing approximately INR80 to INR90 crores capex in the current financial year.”
Chirag Parekh, page 16 of the filed PDF · View the filing
Stainless steel capacity addition — another 150,000 units · March 2027
stated firmly by Chirag Parekh
p. 14
“Stainless steel, 70,000 is already added now. The another 150,000 will be added in March 2027. 250,000 of granite sink will be added by March 2027.”
Chirag Parekh, page 14 of the filed PDF · View the filing
Revenue growth (medium term) — 15% value guidance · next 5 years
stated firmly by Chirag Parekh
p. 16
“We have always given this 15% revenue guidance for the next 5 years.”
Chirag Parekh, page 16 of the filed PDF · View the filing
Annual capex (future years) — INR50 to INR60 crores · every year
stated conditionally by Chirag Parekh
p. 17
“I think we need at least a 50, minimum, bare minimum INR50 to INR60 crores capex every year.”
Chirag Parekh, page 17 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed it to logistics disruption and container delays, plus a tight phase in the UK market.
Answered by Chirag Parekh
Asked by Pritesh Chheda: Why was quartz growth in single digits and why did UK/international subsidiaries show weaker growth?
p. 6
“Yes So there is a lot of disruption happening in the logistics side. So while we had a very strong order booking and I think we did well, we could not dispatch a lot of things because of the delay in containers.”
Chirag Parekh, page 6 of the filed PDF · View the filing
Management said operating leverage, rollback of US discounts, and a new premium product mix drove ASP increase.
Answered by Chirag Parekh
Asked by Avijit Sheet: Were there price hikes taken across categories, and what drove the realization increase in steel?
p. 8
“See, one thing is very clear that we have definitely got a big operating leverage, that that's one, Second is that the rollback of the discounts in the United States has also come back.”
Chirag Parekh, page 8 of the filed PDF · View the filing
Management said new customers like Bodel and JJO will provide breakthrough access to UK project business that was previously untapped.
Answered by Chirag Parekh
Asked by Resha Mehta: Is the UK builder/project segment being tapped now?
p. 9
“So, that's why I said that we see that we see that the UK sales improving in the coming quarters.”
Chirag Parekh, page 9 of the filed PDF · View the filing
Management said over 95% of faucet revenue is currently from the Indian market, with export capability still being built.
Answered by Chirag Parekh
Asked by Resha Mehta: What share of faucet revenue is domestic versus export/UK?
p. 9
“Yes, Yes, sure. Yes, the I think it's 90 -- more than 95%, 97% is Indian market. We have still not started our acquired faucet for export market.”
Chirag Parekh, page 9 of the filed PDF · View the filing
Management said a strategy of investing in higher-end exotic stones raised gross margins significantly.
Answered by Chirag Parekh
Asked by Resha Mehta: What is driving the 20%+ growth in the United Granite business?
p. 10
“And I think that has turned around the corner where the margins have significantly improved. For example, I think it has gone from 35% to 50% gross margins.”
Chirag Parekh, page 10 of the filed PDF · View the filing
Management confirmed 90% of the price rollback has occurred and detailed the net effect on margin from a Lowe's display cost-sharing arrangement.
Answered by Chirag Parekh
Asked by Pragyam Laddha: Are US tariff-related discounts being reversed, and is there a payback from customers?
p. 13
“So we will -- I mean basically I can tell you what is the net effect. If we had to share this Lowe's, let's say USD3 or USD4 million with 1890 stores where customer has asked us to share 50%.”
Chirag Parekh, page 13 of the filed PDF · View the filing
Management said the target is March 2027, with an effort to accelerate given strong order booking.
Answered by Chirag Parekh
Asked by Pragyam Laddha: When will the new capex/capacity projects be commissioned?
p. 13
“So, we have said March quarter 4 2027, we are trying to do as fast as what we can.”
Chirag Parekh, page 13 of the filed PDF · View the filing
Management clarified that both volume and value growth guidance are set at 15%.
Answered by Chirag Parekh
Asked by Saket: Is the 15% growth guidance volume-based or value-based?
p. 14
“Right now, we have taken 15% value and 15% quantity. It's same.”
Chirag Parekh, page 14 of the filed PDF · View the filing
Risks flagged
Logistics disruption and container delays affecting dispatches
p. 6
“So there is a lot of disruption happening in the logistics side. So while we had a very strong order booking and I think we did well, we could not dispatch a lot of things because of the delay in containers.”
Chirag Parekh, page 6 of the filed PDF · View the filing
UK market going through a tight phase
p. 7
“Two is yes, U.K. is I think going through a bit of a tight phase, but we have, as I said in my commentary, we have been able to break through a lot of new customers.”
Chirag Parekh, page 7 of the filed PDF · View the filing
UK market outlook expected to remain modest
p. 5
“The U.K. market expects to remain modest, we remain cautiously optimistic and see strong opportunities to gain market share through distribution channels.”
Chirag Parekh, page 5 of the filed PDF · View the filing
Factory capacity strain requiring near-continuous operation
p. 14
“Because the kind of order booking what we have right now, my factory has to literally run now 7 days a week. So we are in a serious stress.”
Chirag Parekh, page 14 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.