Carysil Limited has announced the voluntary closure of its wholly owned Turkish subsidiary, citing persistent market challenges and economic instability that rendered operations financially unviable. The subsidiary, Carysil Ankastre Sistemleri Ticaret Limited Şirket (Carysil Turkey), was officially deregistered on March 4, following confirmation from the Republic of Turkey Istanbul Trade Registry Directorate.

Subsidiary Closure Details

Carysil Turkey was incorporated as a wholly owned subsidiary to establish the Carysil brand and promote the sale of kitchen sinks and allied products in the Turkish market. However, the operations faced significant challenges that made the business unsustainable.

Financial Impact Assessment

The financial contribution of Carysil Turkey to the parent company's operations was minimal, as evidenced by the subsidiary's performance data. The subsidiary reported zero revenue and maintained a negative net worth, representing only a fraction of the parent company's net worth.

Reasons for Closure

The decision to close Carysil Turkey was driven by multiple factors that affected the subsidiary's viability:

• Persistent financial losses and continuous erosion of net worth
• Economic instability and challenging geopolitical conditions in Turkey
• Limited scalability and minimal business activity
• Absence of viable business prospects for future growth

The subsidiary had incurred continuous losses, which continued through the recent period, making the operations financially unviable.

Regulatory Compliance and Next Steps

The voluntary liquidation process is expected to be completed within the next 3-4 months, with Carysil Limited committed to providing updates upon completion. The company will comply with applicable RBI/FEMA regulations regarding the write-off of investment and loan amounts, subject to receiving necessary approvals.

Carysil Limited has confirmed that this closure is not expected to have any material impact on the consolidated financial performance of the company, given the subsidiary's minimal contribution to overall operations.

Carysil Limited has released its comprehensive Q3FY26 investor presentation showcasing exceptional financial performance and strategic growth momentum. The company, positioned as Asia's largest and the world's fourth-largest quartz kitchen sink manufacturer by scale, demonstrated robust operational excellence across all business segments.

Outstanding Financial Performance

The company delivered remarkable growth in profitability during Q3FY26, with consolidated net profit after minority interest reaching ₹21.10 crores compared to ₹12.50 crores in Q3FY25, representing an impressive 68.6% year-on-year growth. Total consolidated income grew 9.0% to ₹223.9 crores from ₹205.5 crores in the previous year.

Strategic Market Leadership and Business Positioning

Carysil has established itself with over 30 years of experience as one of only four companies worldwide equipped with proprietary German-engineered technology. The company operates an integrated kitchen-bath portfolio with extensive global reach across 60+ countries and maintains a strong domestic presence with 4,500+ dealers across India and 140 galleries.

Capacity Expansion and Production Excellence

The company is implementing significant capacity expansion across multiple product lines. An additional 1 lakh units of quartz sink capacity is scheduled to come on stream by April 2026, with current capacity utilization at approximately 80% in Q3FY26. Similarly, an additional 70,000 units of stainless-steel sink capacity is expected to be operational by April 2026, with capacity utilization at 82% in Q3FY26.

Nine-Month Performance and Strategic Partnerships

For the nine months ended December 31, 2025, consolidated revenue reached ₹695.2 crores compared to ₹614.9 crores in the previous year, representing 13.1% growth. The company has strengthened its international partnerships, including long-term agreements with major clients like IKEA and Karran USA for supplying 150,000 quartz sinks annually. Carysil serves as the sole supplier of quartz sinks to both Karran and Grohe, demonstrating strong client relationships built on decades of excellence.

Brand Development and Market Expansion

Carysil has signed renowned public figure Mira Kapoor as brand ambassador for its marketing campaign and unveiled a state-of-the-art Experience Centre in Ahmedabad. The company has expanded its experiential retail footprint with new openings in Muscat, Pune, Indore, and Ahmedabad, strengthening direct customer engagement through an omnichannel strategy anchored by Carysilshop.com.