Acrysil Ltd, one of the largest Quartz sink manufacturers in the world, will be enhancing its quartz sink manufacturing capacity to take advantage of favourable trend prevailing in the global market for quartz sinks. Acrysil will be adding 1.6 lakh units in Q1FY23 and 2 lakh units in Q2FY23 at an estimated capital outlay of Rs58Cr.
The company has commenced commercial utilization of 140,000 quartz sinks in Q2FY22. Currently total quartz sinks capacity stands at 8.4 lakh units. Considering the buoyant demand condition for quartz sinks and current order book of the company, management is confident of fully utilizing 1.2Mn quartz capacity by FY23 end.
The company is also doubling its stainless steel sink capacities from 90000 units to 1.8 lakh units p.a. by Q4FY22 at an estimated capital outlay of 10 crore. The company may add further capacities in this segment considering buoyant demand condition in the domestic market for steel sinks. The company also plans to manufacture few of its traded products and expand capacities of existing products.
According to the company, demand for quartz sink is growing in USA and European market and this demand is likely to continue in the coming years too. Granites are going out of fashion and especially in USA Quartz has taken over its place. Granites are losing sheen as no new colours are coming to the market. It’s believed that amongst all the hard surfaces in the US, Quartz is growing at the fastest rate. USA has always been a trendsetter and the same situation may be seen in India too in the coming years.