Carysil Ltd

NSE: CARYSIL BSE: 524091Metal

Incorporated in 1987, Carysil Ltd is engaged in manufacturing and trading of Quartz Kitchen Sinks, Stainless Steel Kitchen Sinks, Bath Products, Tiles, Kitchen Appliances and Accessories.

₹900

52W: ₹626 — ₹1072

PE 43 · Book ₹153 · +488% vs book

Market Cap₹2,560 Cr

Stock P/E43Price to Earnings

ROCE13%Return on Capital

ROE11.1%Return on Equity

Div. Yield0.27%Face Value ₹2

Strengths

+Company has been maintaining a healthy dividend payout of 18.1%

Weaknesses

−Stock is trading at 5.88 times its book value
−Company has a low return on equity of 12.6% over last 3 years.
−Working capital days have increased from 39.8 days to 61.3 days

Shareholding Pattern

Promoters41.34%

FIIs1.59%

DIIs11.74%

Public45.35%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	43.8%	41.37%▼2.4	41.37%	41.37%	41.34%▼0.0	41.34%	41.34%	41.34%
FIIs	0.7%	1.22%▲0.5	1.29%▲0.1	1.27%▼0.0	1.55%▲0.3	1.44%▼0.1	1.55%▲0.1	1.59%▲0.0
DIIs	7.2%	11.09%▲3.9	11.69%▲0.6	11.56%▼0.1	11.19%▼0.4	11.33%▲0.1	11.35%▲0.0	11.74%▲0.4
Public	48.31%	46.32%▼2.0	45.66%▼0.7	45.81%▲0.2	45.91%▲0.1	45.89%▼0.0	45.77%▼0.1	45.35%▼0.4

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	95	103	105	100	105	106	109	125	131	123
Expenses	73	80	82	81	88	90	87	97	104	96
Operating Profit	21	23	22	20	17	16	21	28	27	27
OPM %	23%	22%	21%	20%	17%	15%	20%	22%	21%	22%
Net Profit	10	11	12	9	8	9	11	15	17	15
EPS ₹	3.67	4.06	4.31	3.45	2.75	3.04	3.93	5.39	6.12	5.2

AI Insights

Revenue Trend

TTM revenue at ₹488Cr, up 16.2% YoY. OPM at 21%.

Debt Position

Borrowings at ₹121Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹22Cr (11% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 11.74% (+5.03pp change). FIIs: 1.59% (+1.25pp change). Promoters hold 41.34%.

Margin & Efficiency

ROCE declining from 22% (Mar 2014) to 13% (Mar 2025). Working capital days: 61.

Valuation

PE 43x with 13% ROCE. Price is 488% above book value of ₹153. Dividend yield: 0.27%.