Hey you can find the recordings of all the concalls in Youtube. Here is a link that might help you.
Also, investor presentations can be found in this website-https://www.screener.in/
Happy investing 
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News from 7th Feb 2023:
Yesterday (10th August 2023):
In the span of 6 months, Rupees 17 crores spent in acquiring 25.54 acres of land next to their existing facility in Bhavnagar, Gujarat for future expansion.
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Hi All,
The Quarterly result is not as bad as the market is reacting . Some of the points was explained in the previous concall, that the result may not be good. Need to wait for the next Quarterly result for the next action to take from myside(to sell or to hold). Have semi-bullish view for 1 to 3 years time frame
Disc : Invested at lower levels. Points can biased. I am not buy in the dip now. Just holding it
Regards,
Satish
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Understand about revenue impact due to global & EU slowdown. But, I do not understand why there is lower scale of operations due to SAP implementation… Any clarity on concall would be helpful.
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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
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Carysil Ltd Q1 concall highlights -
Sales - 142 vs 171 cr
EBITDA - 26 vs 34 cr ( @ 18 pc vs 20 pc )
PAT - 12 vs 19 cr
SAP and ERP implementation impacted sales in Q1 to the tune of 15 cr
Order book has improved - should get reflected in sales wef Q2
Domestic dealer network at 3200 now
Expanded Steel sinks capacity to 1.8L units/yr & started production in July
Domestic, Intl sales- 32,110 cr
Acquired addnl land in Bhavnagar for expansion- costed 9 cr
Q1-volumes-
Quartz , Steel Sinks, Kitchen Appliance - 1.04L,0.21L, .09L
Domestic, Intl sales - 22pc, 78 pc
Product wise -
Quartz sink - 46 pc
Steel sink - 11 pc
Appliances - 13 pc
Solid surface Sinks - 30 pc
Quartz sinks capacity at 10L units/yr
Kitchen appliance portfolio -
Wine Chillers, Built in Owens, Cooktops, Dishwashers, Chimneys
Domestic appliance manufacturing capacity to be ready in H2. At present, company is trading
Management has indicated several breakthroughs in new customer acquisition, hence guiding for 80 pc capacity utilisation in Quartz Sink segment for residual of FY 24 vs 60 pc in Q1 !!!
Loss of sales in Q1 should spill over to Q2
From Q2 onwards, company should be able to clock a sales run rate of 180-190 cr/ Qtr
Expecting a quartz sink exports of 330-350 cr this yr. It was 65 cr in Q1. Expect Qtly run rate for next 3 Qtrs to be around 90 cr
Destocking in developed mkts has almost ended
Current inventory position is slighly lower than normal
Expect good revival in sales in domestic mkt too wef Q2
Seeing good traction in Pune, Mumbai
Looking to increase its presence in B2C space both in domestic & overseas mkts
Aim to achieve 30 pc sales from B2C channel in 4-5 yrs
Also expecting some margin improvement with volume expansion in the coming qtrs
Management still confident of hitting Rs 1000 cr topline by FY25
Have opened aprox 20 Carysil Showrooms across India. Aiming to double this yr
All showrooms are franchise owned
Disc: holding. Biased
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As everyone is mentioning that Carysil’s domestic revenue contribution has grown from 5% of total sales to 20% (approximately) but when checked in annual report of FY12 the sales contribution from domestic is way different around 25%, is there something I am missing?
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Q1 was expected to be soft. Due to implementation of SAP. This was mentioned in Q4FY23 concall. From my concall notes:
So it’s not like they are giving some random excuse. Similar was the case with prince pipe they also did SAP implementation in Q1 and sales was affected.
Disclosure: Invested.
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Production and Sales were lower because of SAP implementation …kuch bhi. To me it appears that management is not honest enough to provide actual reason. Earlier they were saying that they would have a turnover of Rs.1000 Crores in the FY ended 2025 i.e. a growth of almost 45-50%for next two years. Now they are saying that they will grow 15-20% only. It seems to me that there is no consistency in the management commentary. Appreciate views of others. Disclos: Invested two years back at lower level.
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There can be possible hiccups because of implementation of a new tool/ migration from an old tool for example Order processing, inventory management, CRM, Pricing and quotes, lead management etc need to be integrated properly for the company to function smoothly, issues with any of these can hamper the production and sales.
The growth was based on the assumption that Covid is the last bad thing that is going to happen in the foreseeable future , which wasn’t the case because of Russia Ukraine war. Now, Carysil USP was Quartz sink, the major market for which was Europe and America. Now that they are fighting recession and the housing market is on a slump, the projections got trimmed and they also introduced a different business line to focus more on the domestic market instead. So, I believe things will remain slow as long as the world economy doesn’t recover, which by the looks of it is here to stay for a long time.
At least this is what my take on Carysil is so far. It might very well be the case that they are underperforming because of lack of competence and has nothing to do with all the reasons I mentioned.
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May be they werent able to convey it better. I think what they meant was because of system change the billables will be moved to next quarter.
Neways in next 2 Quarter things will become clearer .
Invested since 2 years
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Astral also said the same re: implementation of Sap and associated hiccups.
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I work in SAIL and I use SAP. Learning SAP is no joke. It’s not like you can watch some YouTube video to learn it. SAP for each company there are different transaction codes (lets say user interface is different for different companies). So it takes time for someone to learn SAP. So I don’t think it’s abnormal that some sales is low due to implementation of SAP. You can do everything with SAP, like doing some procurement for your plant, doing sales of your product, moving one item from one department to another in plant. It’s a complete ecosystem. So it’s not very simple system. But necessary for big companies.
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I have been in sales for so long for deals starting from some crores to deals going to more than $100 million, but it’s hard to imagine that some SAP or sales force implementation can hamper your sales figures. A sales guy would have his deals on the finger tips and if nothing works it can be done through excel. They are not some FMCG where thousands of distributors are there and tracking orders would be tough.
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As Carysil says they are highly focused on R&D and are continually doing R&D but when R&D expense is checked it is close to negligible when compared to revenue so are they able to do such low costs R&Ds which is giving them these great products or the R&D expense is mentioned in a different line item other than that in annexure?
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I think it’s very easy to achieve 1000cr revenue by FY25 as capacity utilisation improve in Q & SS sinks. Faucets & home appliances should also contribute meaning full portion.
Margins should be greater than 22-23% with 230cr Ebitda and PAT should be ~ 1.5X FY23.
To be a successful investors you need to be an optimist-that’s what I have read . But that optimism has to be justified with actual data and situation on the ground. I am a finance professional ,worked at senior levels in different companies and was involved in ERP(including SAP) implementation for a few companies. First step in implementation is the strategy & you will have to make your ensure that implementation process doesn’t affect your primary functions production and sales. Further , its a small company with a turnover of approx Rs 500 Crores (Astra Rs. 5000 Crores+) and production process is not that complex. Please go through the con call ,you yourself will be able to find out a lot of other inconsistencies. Herein I quote one of Mr Chiragh Parekh and -“We wish to reiterate that we have to plan to achieve revenue of Rs 1000 crores by FY25 to support this”.
So he himself is adimiting that there is no plan 
and only aspiration.
Diclos : Invested
Even the Rushil Decor and many comps have talked about the SAP implementation and a soft quarter due to it.
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