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HSIL closes FY15 with a strong performance

Bathroom products company HSIL Limited,with its brand ‘Hindware’,has posted a strong business performance for financial year 2014-15.

Driven by a resilient performance by the Building Products Division, which grew by 6 per cent along with a 6 per cent growth recorded in the Packaging Products Division (PPD), the company’s total turnover in FY14 -15 grew to Rs1,965.03 crore, a growth of 6 per cent over the corresponding last fiscal.

For the Quarter, Building Products Division the revenue witnessed a growth of 6.33 per cent from Rs228.19 crore to Rs288.33 crore. As for Packaging Products Division, the revenue figures are not comparable with the corresponding quarter due to amalgamation of Garden Polymers Pvt. Ltd in March 2014, according to a press release issued by the company.

Sandip Somany, Jt. Managing Director, HSIL Limited, said, “Overall the financial year 2014 – 15 has concluded well for the company. We undertook some major strategic decisions which are reflective in the bottom line. The sluggish economic situation has not been helpful; the impetus for industries is yet to gain traction. However, the company is in good financial health now, a PAT of 85.32 per cent growth is a result of our continued focus on improving margins through better product mix, costs rationalization and improvement in plant efficiencies.”