Commenting on the year, Mr. Sandip Somany, Vice Chairman and Managing Director, HSIL Limited said, “Over the years, we have grown our brand Hindware to expand into other businesses and product categories. This has proven to be successful, with more than 60 million people connected to us today, making Hindware one of the most reliable and vibrant brands in the country. We credit this growth to our belief in innovation, re-invention and transformation, and this is a reflection of our world-class products that are designed to deliver only the best to our valued customers. This, backed by robust marketing capabilities, expanding distribution network and dynamically talented and motivated business teams have translated into strong growth and returns for our stakeholders.”
“Our strategic investments in the Pipes business has emerged as a solid winner with a record sales of over ₹ 130 Crore in a short span of eight months since making its commercial launch. Additionally, our Consumer Business has achieved sizeable growth of 47.2% in revenue in this financial year. As we look ahead, HSIL is on its way towards achieving a greater degree of success by capacity streamlining, brand segmentation and product range expansion to enable us to cater to a wider cross-section of consumers,” Mr. Somany further added.
Achieving new frontiers of growth in FY 2018-19, few Business Division highlights are:
• HSIL’s Packaging Products Division’s revenue surged by 21.2%, growing to ₹ 1115 crores from ₹ 920 crores during the corresponding period last year
• Consumer Products Division made significant strides and its revenue increased to ₹ 305 crore in FY 2018-19, registering a 47.2% growth year-on-year
• Building Products Division grew by 18.7% to ₹ 1222 crore Y-o-Y
HSIL’s significant investment in distribution network, brand segmentation and product differentiation has started to yield encouraging outcomes. The brand Hindware is now present across multiple businesses and product categories, ranging from kitchen to bathroom to living rooms, and the company is relentlessly focusing on expanding the brand further.