Q2- 2024…investor presentattion
1…The US and UK economies have shown signs of improvement; inflationary pressures are gradually easing. However,
cautious consumption patterns persist due to precautionary measures. Meanwhile, Europe remains a point of
concern. Overall, the order book has improved and should result in positive impact on revenues from hereon
2…Destocking of Inventory in the
channel led to lower revenue
in FY23 compared to FY22
3…We are currently experiencing delays in machinery procurement, which has affected the timeline for commercializing the
first phase of the appliance
division. We now estimate this to take place in early H2FY24.
4…Looking towards our long-term goal, we aim to achieve Rs. 1,000 cr. in revenue by FY25. In addition to our strong position
in quartz sinks, we believe that steel sinks and the appliance division will play vital roles in accomplishing this objective.”
5…Commercial production of additional steel sinks capacity, commenced in July’23, bringing the total capacity to
1,80,000 units P.A
6…Acquisition of 43,379 sq. mt. additional land in Bhavnagar, Gujarat for Rs. ~9.07 cr for future expansion & new
projects if any
7…q1 2024
45%@Quartz sinks
30% appliances
11% steel sinks
8…We have expanded to
newer geographies –
Australia, New Zealand,
Gulf countries, Southeast
Asia, China, Singapore,
Turkey, Vietnam
❖ Witnessing huge traction in
business from these
geographies
9…Acqusiition and cross selling opportunity
•The acquisition of 100% stake in a
distribution company : Homestyle
Product Limited, in UK which outsources
sinks and sells to the top customers
• Another acquisition in UK : Tickford
Orange Limited, holding company of its
operating subsidiary ’Sylmar
Technology’. Leading player in UK solid
surface market
• Tap Factory acquisition.
• Vital access to key customers based in
markets in Europe and UK
• Current Domestic Market : 3200+
Dealers, 85 Galleries & 82 distributors
10…FUTURE GROWTH DRIVER
A…Strong Distribution Network
Strengthen the Distribution network by tie up with Homestyle and STL, UK and
plan to add new 100 galleries and 34 more distributor and increased dealer
network to 3200+ dealers in Q1FY24
B…Branding
Focused on capturing the Brand Mindspace of niche Consumers
C…New products
Entry into the kitchen appliances and bathware market with innovation, R&D and design
capabilities – Aim to become a major player
D…Export
Currently catering to 55+ countries strive to spread the wings to 70 countries in
next three years by exploring the uncatered geographies
E…Technology
… Only Quartz Sink Company
Only company in India and amongst the 4 global players manufacturing Quartz
Sinks
Disc…invested
| Subscribe To Our Free Newsletter |
