{"id":142997,"date":"2023-02-28T07:50:07","date_gmt":"2023-02-28T12:50:07","guid":{"rendered":"https:\/\/44.250.171.167\/?p=142997"},"modified":"2023-02-28T07:50:08","modified_gmt":"2023-02-28T12:50:08","slug":"carysil-ltd-q3-fy23-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/carysil-ltd-q3-fy23-earnings-conference-call-insights\/","title":{"rendered":"Carysil Ltd Q3 FY23 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Carysil Ltd (<a href=\"https:\/\/44.250.171.167\/symbol\/CARYSIL\/\">CARYSIL<\/a>) Q3 FY23 Earnings Concall<\/strong><\/p>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>[00:14:11] Udit Gajiwala with Yes Securities enquired about the 4Q23 volume trajectory from current order book. Chirag Parekh MD replied that the outlook looks positive based on the latest exhibition, and orders from major markets like the UK, U.S., and India seem to be healthy. CARYSIL expects QonQ volume growth, but said it\u2019s difficult to predict how much.<\/li>\n<\/ul>\n<ul>\n<li>[00:15:43] Udit Gajiwala of Yes Securities asked if the company has taken any price increases in its quartz sink and stainless steel as the realization in 3Q was much higher. Anand Sharma CFO answered that the prices have gone up due to the introduction of new SKUs and higher input costs.<\/li>\n<\/ul>\n<ul>\n<li>[00:16:45] Udit Gajiwala from Yes Securities enquired what should be the stable margin going forward for next couple of years. Anand Sharma CFO replied that CARYSIL\u2019s margin profile has not changed and will improve with increased volume.<\/li>\n<\/ul>\n<ul>\n<li>[00:17:32] Aman Agarwal at Equirus Securities asked about the growth outlook at Carysil Surface. \u00a0Chirag Parekh MD answered Carysil Surfaces has been able to target a lot of new customers in the UK and beat the forecast. Margin improvement is expected due to the reduction of input costs and freight prices coming back to pre-pandemic levels.<\/li>\n<\/ul>\n<ul>\n<li>[00:19:57] Aman Agarwal at Equirus Securities queried about the winning possibilities in the appliances side. Chirag Parekh MD said that CARYSIL is focusing on kitchen hoods and hobs and have hired engineers from well-known institutions to innovate. CARYSIL have also been recruiting a new team for built-in appliances and plan to do in-house assembling and manufacturing, giving CARYSIL a competitive edge in the market.<\/li>\n<\/ul>\n<ul>\n<li>[00:21:47] Nikhil Gada from Abakkus enquired if the company is seeing some demand slowdown in the domestic markets. Chirag Parekh MD answered that there is a backlog and destocking of domestic goods due to COVID levels, resulting in the secondary sales not being as high as the primary sales. This could potentially improve in 4Q23.<\/li>\n<\/ul>\n<ul>\n<li>[00:25:46] Shrinjana Mittal from Ratnatraya Capital asked about the channel inventory currently. Chirag Parekh MD answered that the destocking is almost over. So the normal levels of 2 month inventory, which a distributor keeps, is there now.<\/li>\n<\/ul>\n<ul>\n<li>[00:27:52] Harsh Jhanwar from Centrum Portfolio enquired about any new partnerships CARYSIL has signed or in process of signing with global retail giants. Chirag Parekh MD said the price difference between CARYSIL and its European competitors has increased to 35%. CARYSIL is currently having advanced discussions with key players in the world, and is positive that these could soon materialize.<\/li>\n<\/ul>\n<ul>\n<li>[00:29:23] Harsh Jhanwar from Centrum Portfolio asked if the company saw any higher wallet share with Ikea. Chirag Parekh MD answered that the Ikea global sales supply-chain team visited the factory last week to see why they weren&#8217;t getting a larger wallet share. CARYSIL is awaiting their response to see if it can increase its wallet share with them.<\/li>\n<\/ul>\n<ul>\n<li>[00:35:35] Nitin Gandhi from KIFS Trade enquired about the max revenue potential from existing capacities segment wise. Chirag Parekh MD answered that CARYSIL has a capacity of 1 million sinks, resulting in INR600 crores, and 90,000 stainless steel sinks, which will be expanded to 180,000 units, with an estimated revenue of INR45-50 crores at 90,000 units and INR80-90 crores at 180,000 units.<\/li>\n<\/ul>\n<ul>\n<li>[00:45:27] Tushar from Kamakhya Wealth asked about the CAGR growth that\u2019s expected in the next 2-3 years in revenue and margin. Chirag Parekh MD replied that CARYSIL is currently growing at a rate of INR130 crores annually and plan to grow 30-50% YonY for the next 3 years.<\/li>\n<\/ul>\n<ul>\n<li>[00:48:03] Ridhima Goyal from Acquaint Bee enquired if CARYSIL is shifting its focus from quartz sinks to other products. Chirag Parekh MD clarified that CARYSIL wants to be a one-stop solution for its customers, so it is selling quartz sinks, 60%, steel products, 20%, and built-in appliances, 20%. This has increased its revenue significantly.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Carysil Ltd (CARYSIL) Q3 FY23 Earnings Concall Q&amp;A Highlights: [00:14:11] Udit Gajiwala with Yes Securities enquired about the 4Q23 volume trajectory from current order book. Chirag Parekh MD replied that the outlook looks positive based on the latest exhibition, and orders from major markets like the UK, U.S., and India seem to [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"Carysil Ltd Q3 FY23 Earnings Conference Call Insights #CARYSIL #Q3 #FY23 #Earnings #Stocks","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,5753],"tags":[],"class_list":["post-142997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-industrials"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":129640,"url":"https:\/\/alphastreet.com\/india\/acrysil-ltd-q4-fy22-earnings-conference-call-insights\/","url_meta":{"origin":142997,"position":0},"title":"Acrysil Ltd Q4 FY22 Earnings Conference Call Insights","author":"Praveen","date":"May 19, 2022","format":false,"excerpt":"https:\/\/youtu.be\/aGIj9CJl_-Q Key highlights from Acrysil Ltd (ACRYSIL) Q4 FY22 Earnings Concall Q&A Highlights: Pritesh Chheda from Lucky Investment Managers asked about the quartz sink volume for FY22 and when the capacity will be fully utilized. Chirag Parekh MD said that in FY22, ACRYSIL did total 650,000 quartz sinks. On utilization,\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":156778,"url":"https:\/\/alphastreet.com\/india\/carysil-ltd-q2fy24-78-rise-in-profits\/","url_meta":{"origin":142997,"position":1},"title":"Carysil Ltd Q2FY24; 78% rise in Profits","author":"Divyansh_Kasana","date":"November 28, 2023","format":false,"excerpt":"Carysil is engaged in manufacturing and trading of Quartz Kitchen Sinks, Stainless Steel Kitchen Sinks, Bath Products, Tiles, Kitchen Appliances and Accessories. Financial Results: Carysil Ltd reported Revenues for Q2FY24 of \u20b9164.00 Crores up from \u20b9139.00 Crore year on year, a rise of 17.99%. Total Expenses for Q2FY24 of \u20b9144.00\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-362.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-362.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-362.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-362.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-362.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-362.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":153274,"url":"https:\/\/alphastreet.com\/india\/carysil-ltd-q1fy24-37-fall-in-profits\/","url_meta":{"origin":142997,"position":2},"title":"Carysil Ltd Q1FY24; 37% fall in Profits","author":"Divyansh_Kasana","date":"August 14, 2023","format":false,"excerpt":"Carysil is engaged in manufacturing and trading of Quartz Kitchen Sinks, Stainless Steel Kitchen Sinks, Bath Products, Tiles, Kitchen Appliances and Accessories.(Source : 201903 Annual Report Page No: 112) Financial Results: Carysil Ltd reported Revenues for Q1FY24 of \u20b9142.00 Crores down from \u20b9171.00 Crore year on year, a fall of\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-864.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-864.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-864.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-864.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-864.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-864.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":126868,"url":"https:\/\/alphastreet.com\/india\/apollo-pipes-ltd-q3-fy22-earnings-conference-call-insights\/","url_meta":{"origin":142997,"position":3},"title":"Apollo Pipes Ltd Q3 FY22 Earnings Conference Call Insights","author":"Praveen","date":"January 28, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=knVpkwQc3sg Key highlights from Apollo Pipes Ltd (APOLLOPIPE) Q3 FY22 Earnings Concall Management Update: The company reported a stable performance during the quarter. 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Corporate Participants: Chirag Parekh\u00a0--\u00a0Chairman and Managing Director Anand H. Sharma\u00a0--\u00a0Chief Financial Officer Analysts: Jensen Jacob\u00a0--\u00a0Centra Advisors -- Analyst Udit Gajiwala\u00a0--\u00a0Yes Securities -- Analyst Aman Agrawal\u00a0--\u00a0Equirus Securities -- Analyst Nikhil Gada\u00a0--\u00a0Abakkus AMC -- Analyst Shrinjana Mittal\u00a0--\u00a0Ratnatraya capital -- Analyst Harsh\u2026","rel":"","context":"In &quot;Earnings Call Transcripts&quot;","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"Earnings Conference Call Transcript","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2020\/09\/Transcript-thumbnail-e1657213425955.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/142997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=142997"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/142997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=142997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=142997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=142997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}