Shares of Carysil Ltd, a manufacturer and exporter of home furnishings such as kitchen sinks and appliances, crashed 9% on 26 September after the US President imposed a 50% tariff. 

In addition to the 100% tax on branded and patented medications, the Trump administration has imposed a 50% duty on kitchen cabinets and bathroom vanities, as well as a 30% tariff on upholstery furnishings, which will take effect on 1 October.

With less than a week until the president’s intended implementation date, neither the White House nor the Commerce Department have disclosed details about the plans or how they would be carried out.

According to Carysil’s annual report for fiscal year 2025, US markets accounted for 21.5% of its consolidated top line.

According to the product mix, 47.5% of Carysil’s revenue came from the Quartz sink business, 28.4% from surfaces, and 10.6% from the Steel Sink company. According to their annual report, the remaining revenue came from appliances and other sources.

In a separate filing on Thursday, Carysil stated that it had no plans to seek additional money through a QIP to extend its manufacturing and assembly line for kitchen appliances at its Bhavnagar location.

According to management, the project will be funded with monies obtained as part of the July 2024 QIP.

At the end of the June quarter, India’s Mutual Funds owned 3.65% of Carysil, with the Abakkus Emerging Opportunities Fund owning another 5.34%. Investor Ashish Kacholia owned 3.52% of the firm at the end of the June quarter.

At 12:22 pm, the shares of Carysil were trading 4.43% lower at Rs 812.45 on NSE.

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