Carysil Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Carysil Ltd filed with BSE on 27 May 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 FY26 consolidated total income growth of 14%, EBITDA growth of 31% and PAT growth of 54%, with PAT margins after minority interest improving by around 274 basis points year-on-year. Quarter 4 FY26 total income grew 16% to Rs 237 crores with EBITDA margin at 20.3%. Management discussed capacity expansions in Quartz Sink, Stainless Steel Sink and Built-in Appliances, export demand trends across the UK, US and Europe, and reiterated revenue and margin guidance ranges for the coming years.
Numbers mentioned
Consolidated total income: INR237 crores (Q4 FY26)
p. 6
“Consolidated total income for quarter 4 FY26 stood at INR237 crores as compared to INR205 crores in Q4 FY25, registering growth of 16%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EBITDA: INR48 crores (Q4 FY26)
p. 6
“EBITDA for the quarter stood at INR48 crores as against INR36 crores in corresponding last year quarter, reflecting growth of 33%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EBITDA margin: 20.3% (Q4 FY26)
p. 6
“EBITDA margin for quarter 4 FY26 stood at 20.3%, up by 277 basis points.”
Anand Sharma, page 6 of the filed PDF · View the filing
Profit after tax and minority interest: INR27 crores (Q4 FY26)
p. 6
“Profit after tax and minority interest for the quarter stood at INR27 crores as compared to INR19 crores of Q4 FY25, growth of 42%.”
Anand Sharma, page 6 of the filed PDF · View the filing
Quartz Sink sales volume: 195.5K (Q4 FY26)
p. 6
“During the quarter, Quartz Sink sales volume stood at 195.5K, stainless steel volume stood at 44.6K while kitchen appliances and other volumes stood at 8.5K.”
Anand Sharma, page 6 of the filed PDF · View the filing
Faucet sales volume: 10.2K units (Q4 FY26)
p. 6
“Faucet recorded sales volume of 10.2K units.”
Anand Sharma, page 6 of the filed PDF · View the filing
Consolidated total income: INR932 crores (FY26)
p. 6
“In FY26, consolidated total income stood at INR932 crores as against INR820 crores in FY25 delivering growth of 14%.”
Anand Sharma, page 6 of the filed PDF · View the filing
EBITDA: INR185 crores (FY26)
p. 6
“EBITDA for FY26 stood at INR185 crores as compared to INR142 crores in FY25, reflecting strong growth of 30%, while EBITDA margin improved to 19.9% as compared to 17.3% previous year.”
Anand Sharma, page 6 of the filed PDF · View the filing
Profit after tax and MI: INR98 crores (FY26)
p. 7
“Profit after tax and MI interest for FY26 stood by INR98 crores as against INR64 crores in FY25 registering healthy growth of 53%.”
Anand Sharma, page 7 of the filed PDF · View the filing
Gross debt: INR270 crores (as on 31 March 2026)
p. 7
“gross debt stood at INR270 crores as on 31 March 2026, while cash and bank balance stood at INR59 crores.”
Anand Sharma, page 7 of the filed PDF · View the filing
Capex: INR68 crores (FY26)
p. 7
“During FY26, company incurred total capex of INR68 crores towards plant and machinery, capacity enhancement, automation initiative, and other infrastructure-led investment to support future growth.”
Anand Sharma, page 7 of the filed PDF · View the filing
Forex gain: INR2.5 crores (Q4 FY26)
p. 8
“So Vaidik, we have INR2.5 crores gain in the quarter 4 on the forex side.”
Anand Sharma, page 8 of the filed PDF · View the filing
Stainless steel sink capacity: 250,000 units per year
p. 4
“increasing the total annual capacity from 180,000 units to 250,000 units.per year.”
Chirag Parekh, page 4 of the filed PDF · View the filing
Online business revenue: approximately INR5 crores (FY26)
p. 5
“online business, which contributed approximately INR5 crores during FY26 and is expected to scale meaningfully as consumer preference increasingly shift towards digital home.”
Chirag Parekh, page 5 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.
Quartz Sink capacity expansion — 250000 Quartz sink · Q4 FY27
stated firmly by Chirag Parekh
p. 4
“capacity expansion of 250000 Quartz sink expected to become operational in quarter Q4-FY27”
Chirag Parekh, page 4 of the filed PDF · View the filing
Revenue growth — 15% to 20%
stated firmly by Anand Sharma
p. 9
“our growth guidance of between 15%, 20% right now remains in place with a 18% to 20% margin guidance.”
Anand Sharma, page 9 of the filed PDF · View the filing
EBITDA margin — 18% to 20%
stated conditionally by Chirag Parekh
p. 12
“our margin guidance will be staying at 18%, 20%.”
Chirag Parekh, page 12 of the filed PDF · View the filing
India business revenue — INR500 crores · within 5 years
stated as an aspiration by Chirag Parekh
p. 8
“we want to touch our INR500 crores sale within 5 years in India.”
Chirag Parekh, page 8 of the filed PDF · View the filing
Kitchen business scale — $1 billion kitchen business · long-term
stated as an aspiration by Chirag Parekh
p. 6
“guided by a long-term aspiration of building a $1 billion kitchen business.”
Chirag Parekh, page 6 of the filed PDF · View the filing
Appliances capacity expansion — first 50,000 units of 100,000 unit expansion · FY28
stated firmly by Chirag Parekh
p. 11
“The first 50,000 units will come as phase 1, and that is going to come in FY28.”
Chirag Parekh, page 11 of the filed PDF · View the filing
Capex — INR70 to INR75 crores · this financial year
stated firmly by Anand Sharma
p. 14
“So we had a capex plan of around INR70 to INR75 crores for this financial year.”
Anand Sharma, page 14 of the filed PDF · View the filing
Marketing and development spend — 10% of sales
stated firmly by Chirag Parekh
p. 10
“we have benchmarked at it about 10% -- to 10% of our sales, and we are sticking to that.”
Chirag Parekh, page 10 of the filed PDF · View the filing
Surface business growth — 7% to 8% · next year
stated as an aspiration by Chirag Parekh
p. 14
“our next year AOP budget is about 10% increase. So I think we will be looking at about a 10% growth targeting 10%, we can land up about 7%, 8% on surfaces side, yes.”
Chirag Parekh, page 14 of the filed PDF · View the filing
Faucet and hoods gross margin — around 60%
stated as an aspiration by Chirag Parekh
p. 12
“with the new products, which we plan to have a -- our gross margin guidance between going to be around 60%.”
Chirag Parekh, page 12 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 said UK manufacturing is dedicated to the UK market and that the UK market has bottomed out despite challenges, with new customers being added.
Answered by Chirag Parekh
Asked by Naman Parmar: What is the demand scenario and capacity situation in the UK market?
p. 7
“it seems very clearly that U.K. is bottomed out.”
Chirag Parekh, page 7 of the filed PDF · View the filing
Management reiterated growth and margin guidance ranges while noting geopolitical uncertainty.
Answered by Anand Sharma
Asked by Vaidik Bafna: What is the revenue growth guidance for coming years given new capacities?
p. 9
“We have added-- our growth guidance of between 15%, 20% right now remains in place with a 18% to 20% margin guidance.”
Anand Sharma, page 9 of the filed PDF · View the filing
Management acknowledged the target is conservative but said achieving it will still be challenging given adverse conditions.
Answered by Chirag Parekh
Asked by Mudit Pincha: Is the 5-year India revenue target of INR500 crores conservative given premium positioning?
p. 9
“Because we are realistic. We all know a lot of the adverse situation going around. So we have to be and it is conservative, yes”
Chirag Parekh, page 9 of the filed PDF · View the filing
Management said gross margins in India are comparable or better, but net margins are lower due to marketing costs during the launch phase.
Answered by Chirag Parekh
Asked by Sunil Jain: Are India business margins similar to company-level margins?
p. 10
“on the net profit side, because of the higher marketing costs, we had a launch phase, and we are recruiting new teams on a net level, it is lower than export.”
Chirag Parekh, page 10 of the filed PDF · View the filing
Management attributed growth to high-end product launches and new OEM supplies, with margin expansion potential if geopolitical conditions normalize.
Answered by Chirag Parekh
Asked by Sagar Jethwani: What drove 50% growth in stainless steel volumes and can margins expand further?
p. 12
“the scale in the stainless steel business is launching of high-end products and strong demand for that in the Indian market.”
Chirag Parekh, page 12 of the filed PDF · View the filing
Management said MMA prices rose sharply but have stopped increasing, and cost has mostly been passed to customers.
Answered by Chirag Parekh
Asked by Sagar Jethwani: How have MMA prices moved recently?
p. 13
“the price has increased by about 30% approximately 30%, 35%.”
Chirag Parekh, page 13 of the filed PDF · View the filing
Management said no decision has been made yet and it will be reviewed in Q2.
Answered by Anand Sharma
Asked by Khush Shah: What is the capex plan for fixed assets in the following year?
p. 14
“We have not yet decided. We will review that in quarter 2, and then we'll decide for the next financial year.”
Anand Sharma, page 14 of the filed PDF · View the filing
Risks flagged
Geopolitical uncertainties, trade volatility, inflationary pressures and tariff-related disruptions
p. 3
“despite the heavy headwinds marked by geopolitical uncertainties, trade volatility, inflationary pressures, tariff-related disruptions, Carysil delivered one of the strongest operating performance to date during FY26”
Chirag Parekh, page 3 of the filed PDF · View the filing
UK market remains tough
p. 7
“there is no doubt U.K. market is tough right now, but we've been doing, I think, quite well.”
Chirag Parekh, page 7 of the filed PDF · View the filing
Freight and shipping disruptions affecting exports
p. 9
“there is a lot of disruptions on freight, but team is managing well. Somewhere we have delays on getting the containers, somewhere delays of getting the ships reaching the customer.”
Chirag Parekh, page 9 of the filed PDF · View the filing
Temporary gas availability shortage
p. 9
“So currently, we are getting 100% supply. So it was for only a few weeks, it was not available. Now it's 100% operational.”
Anand Sharma, page 9 of the filed PDF · View the filing
Rising MMA raw material prices
p. 12
“MMA prices are on the rise. They are increasing. Which is they say at a short level, but they have stopped increasing.”
Chirag Parekh, page 12 of the filed PDF · View the filing
Middle East geopolitical situation impacting business
p. 5
“The Middle East business continues to perform in spite of the geopolitical situations not quite well.”
Chirag Parekh, page 5 of the filed PDF · View the filing
Ongoing geopolitical adversities affecting future outlook
p. 9
“The geopolitical adversities are very, very strong. I cannot even say the future what it is.”
Anand Sharma, page 9 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.