Sanitaryware, bath fittings and packaging products major HSIL Limited has posted gross sales of Rs 2,042 crore in FY15-16, up from Rs 1,965 crore the year before. The packaging products division has experienced slight contraction; gross sales fell to Rs 909 crore from Rs 920 crore in previous years.
However, the building products division has performed well this fiscal, with gross sales amounting to Rs 1,034 crore, up from Rs 935 crore in the previous fiscal. The overall PBT has grown at a healthy rate of 21.50%.
Sandip Somany, joint managing director of the company said, “The year 2015-16 was a year of strategic accomplishments for HSIL especially in terms of diversification into new business verticals and complete turnaround of our packaging division, while we continue to maintain focus on consistent growth in our building products businesses. A buoyant performance by building products division, which grew by around 11%, is a combination of consumer faith, our robust brand and product proposition, our adaptability of the market dynamics.”
On the performance of the building products division in particular he added, “The performance of building products division includes the development costs related to new consumer business which has already built a footprint of more than 250 distributors across India and 4,000 active sales touch points, which we intend to double in next one year. The products launched under the consumer business have been well accepted in market.”
Somany said that the company has been focusing more on retail as against institutional sales, and this helped the company grow despite slowdown in project sales. The company is also ramping up its capacity from 3.8 million pieces to 4.2 million pieces in the ceramic sanitaryware category by year-end.