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Revenue
₹223 Cr
verified against source
Revenue YoY
8.6%
reported change
EBITDA
₹43.7 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Carysil reported a decent Q3 FY26 with consolidated total income of 225.2 cr (+8.6% YoY) and EBITDA of 43.7 cr (+31.9% YoY), driven by strong volume growth in quartz (+27%) and stainless steel sinks (+23%) and margin expansion from lower raw material costs. PAT surged 69.7% YoY to 21.3 cr. The US tariff reduction from 50% to 18% under the new trade deal is a major positive, allowing the company to roll back discounts and improve realizations. Management is confident of crossing $100M revenue run-rate by Q4 and targeting another $100M via Carousel 2.0. Key risks include continued softness in the UK market and potential capacity constraints if demand accelerates faster than expected.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to cross $100 million in annualized revenue by the end of Q4 FY26.
- The company plans to add another $100 million in revenue through its Carousel 2.0 initiative, details to be unveiled at the summit on April 4, 2026.
- Additional quartz sink capacity and stainless steel sink capacity expansion (from 180k to 250k units) will become operational by Q1 FY27.
- Management aims to achieve ₹500 crore revenue from India within the next five years, with a detailed strategy to be shared at the April 2026 summit.
Risks flagged
- The UK economy remains challenging, with muted demand for surfaces and sinks, potentially dragging overall growth.
- With strong demand from US and IKEA, existing capacity may fall short; management hinted at further capacity expansion in 2026 but no firm timeline.
- Gross margin expansion was aided by lower MMA prices; any reversal could pressure margins. Management noted difficulty in predicting beyond 2-3 months.
- Top three customers (US, IKEA, etc.) account for over 60% of business, posing concentration risk if any relationship sours.
Key quotes
- We are going to roll back the prices based on the pro rata 50 to 80 100%.
- Our vision is to build India's largest integrated kitchen hub.
- We have a great English team. We recruited some new senior and experienced people to put the appliances and the forces on a fast growth track in the UK.
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