Leading fibre cement roofing and green building products manufacturer HIL Limited, part of the CK Birla Group, has clocked net sales of `1,096 crore in FY15-16, which is a marginal decline from Rs 1,108 crore posted the year before. Having suffered a loss in the second and third quarter, HIL finally posted a PBT of `8.06 crore in the fourth quarter. Overall, the company has registered a net profit of Rs 39 crore in FY15-16. While the Aerocon business has witnessed double-digit growth and has been a key growth driver during the fiscal, Charminar (sheeting business) has retained its market share.
Commenting on the results, HIL’s managing director Prashant Vatkar said, “FY15-16 was challenging owing to stagnation in the real estate market and slowdown in the rural economy. We have been able to turn around and deliver profits in this quarter. Our focus has largely been on sharpening operational efficiency, reducing cost per cubic meter and scaling up across existing markets.”
Vatkar added, “The addition of the Thimmapur plant in Telangana has helped us bolster production and cater to the rising demand. Underlining the commitment to our shareholders, we have recommended a final dividend of 100% for FY15-16.”