Earning call Transcript

November 09, 2026 To, To, BSE LIMITED National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Plot No. C/1 Phiroze Jeejeebhoy Towers, 'G' Block, Bandra – Kurla Complex Dalal Street, Bandra East, Mumbai- 400 001 Mumbai 400 051 Scrip Code: 524091 Trading Symbol: CARYSIL Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Transcript of Earnings Conference call held on November 05, 2026. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the transcript of Q2 FY2027 Earnings Conference Call for the Un-audited Financial Results for the quarter ended September 30, 2026 held on Thursday, November 05, 2026 Thanking you, Yours faithfully, For CARYSIL LTD. REENA SHAH COMPANY SECRETARY & COMPLIANCE OFFICER Encl.: a/a “Carysil Limited Q2 and H1 FY27 Earnings Conference Call” November 05, 2026 MANAGEMENT: MR. CHIRAG PAREKH – CHAIRMAN AND MANAGING DIRECTOR – CARYSIL LIMITED MR. ANAND SHARMA – EXECUTIVE DIRECTOR AND GROUP CHIEF FINANCIAL OFFICER – CARYSIL LIMITED Page 1 of 15 Carysil Limited November 05, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Carysil Limited Q2 and H1 FY27 Earnings Conference Call, hosted by Go India Advisors. This conference call may contain forward- looking statements about the company which are based on the beliefs, opinions, and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star, then zero on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Chirag Parekh. Thank you, and over to you, sir. Chirag Parekh: Yeah. Good evening, ladies and gentlemen, and thank you for joining Carysil Limited's quarter 2 and FY27 earnings conference call. I extend my warm festive wishes to all of you and your families. Our results and investor presentation are available on the stock exchanges and on our website. Joining me today is Mr. Anand Sharma, Executive Director and Group CFO, along with GIA, Investor Data Advisors. Quarter 2 performanceDespite a challenging global environment, pleased to share that Carysil delivered its highest ever second quarter revenue of INR275.7 crores, a growth of 14.6% over last year. Our core business, sink business, continues to be our main growth engine. The quartz sink volumes grew about 10% to 217K units, and the quartz sinks contributed about 54% of our revenue. Stainless steel volume also grew by 8% to 47K units. Together, our sinks contribute 65% of our revenue. Our faucet volume grew by 8%, kitchen appliances 12%, and surfaces 23% on our revenue this quarter. With this wider portfolio, Carysil is steadily becoming a complete kitchen solution provider for our customer. Capacity expansion. Our granite sink plant is running at a 92% utilization, stainless steel plant running at a 91% capacity utilization in quarter 2 FY27, which is close to optimum level. In addition, 250,000 units of annual capacity of quartz sinks and 150,000 in steel sinks due by the end of FY27 comes at the right time. In line with Make in India, we are also doubling our faucet and kitchen appliances capacities to 100,000 units. Each is to reduce our dependence on imports. This too is on track for end of FY27. International business. Our long-standing partners IKEA, Lowe's, Home Depot, and Howdens, Hafele continue to be a large share of their business. We've extended our partnership with Home Depot Canada and US, starting working with Hafele in Australia, New Zealand, Thailand, and Indonesia. And received our first Amazon buy, Amazon USA. In the UK, Carysil Products Limited recorded its highest ever half revenue of GBP6.2 million. Our surfaces business saw a softer demand to GBP5.8 million as against GBP7 million of last Page 2 of 15 Carysil Limited November 05, 2026 year. In the US, the United Granite grew its revenue to $5.6 million from $5 million, approximately a 10% plus growth. Domestic business has been one of our biggest opportunities and our growth engines. Indian consumers are increasingly choosing premium brand and design-led kitchen products. So our business grew by 30% in the first half, and India contributed 21% of our revenue versus 19% last year. Expanding our presence through galleries, brand store experience centers, B2B vertical with developers, and also online platforms like Amazon and Flipkart. To build our brand further, we have signed renowned actor Mr. Bobby Deol as our brand ambassador for FY27 and '28. We remain on track to achieve our INR500 crores domestic revenue over the next three years. Innovation and outlook. We are preparing global launch of our nanotechnology-based sinks in 2027, starting with Europe and US. This is a small silk smooth finish of a granite sink with other additives other than quartz. This is approximately 25% of the global revenue of the other competitors. By entering into this segment, we'll be able to increase our market share in the luxury segment globally. Also, the value addition is approximately 20% more than the current Granite sinks. We are maintaining our FY27 guidance of 15% revenue growth with an EBITDA margin of the guidance given, 18% to 20%. We still remain at the upper side of our margin guidance. Our priorities are clear; growing core categories, completing capacity expansion on time, and improving profitability to allocating with discipline. We also like to give news that there has been a big win by Democrats in United States. So we see now a strong momentum of orders coming from United States. We're already seeing some immediate trips by our customers to our factory as early in next week. So we are very confident there will be a huge momentum now coming from United States, not just for granite sinks but also for stainless steel sinks. Now I would like to hand over to Executive Director and Group CFO, Mr. Anand Sharma. Over to you, Anand. Anand Sharma: Thank you, sir. Good evening, ladies and gentlemen. Let me take you through the consolidated performance for Q2 FY27. Revenue from operation INR275.7 crores, it is increased by 14.6% Y-on-Y basis and 5.2% Q-on-Q basis. Total income INR278 crores, up by 13.9%. Gross profit INR149.7 crores, which is 16.8% higher. Gross margin also improved by 133 basis points to 53.9%. EBITDA grew to INR54.1 crores, up by 9.3%. Margin for quarter 2 FY27 was 19.4% compared to Q2 FY26 20.3% and Q1 FY27 21.2%. This margin decrease is on account of higher raw material cost and sea freight. Profit before tax and profit after tax both has increased by 10.3% and 5.8%. EPS is INR9.97 as compared to quarter 2 FY26, INR9.56. Page 3 of 15 Carysil Limited November 05, 2026 Half year basis consolidated performance. Revenue from operation INR537.9 crores, up by 15%. Total income INR542.8 crores, up by 15.2%. Gross profit INR294.9 crores, up by 19%. Gross margin also improved by 174 basis points to 54.3%. EBITDA INR110.1 crores, up by 17.6%, margin by 42 basis points to 20.3%. Profit before tax INR82.2 crores, up by 23.3%. Profit after tax INR61.1 crores, up by 21.3%. EPS increased to INR21.02 as compared to last year first half, INR17.59. With this, we can now open the floor for question-and-answer. Thank you. Over to you, operator. Moderator: Thank you, sir. We will now begin the question-and-answer session. The first question comes from the line of Resha Mehta with GreenEdge Wealth. Please go ahead. Resha Mehta: Yes, sir. Thank you. Congratulations for a decent show. First, I just wanted to check [Showing first 8,000 characters — download PDF for full document]