Bangalore: HSIL Limited a leading sanitaryware Company of repute and second biggest in packaging products (Container Glass and PET) announced its annual results today with a strong performance for its overall business for the year ending FY13 -14.

Driven by exceptional performance by the Building Products Division, which grew by 18% and a resilient performance by the Container Glass Division, the company’s total turnover (Net Sales & other Operating Income) in Q4 of FY’14 grew to INR 1746.48 cr, a growth of 11% over INR 1573.79 cr, recorded in the corresponding quarter in last fiscal.

The cumulative figures for the year (FY’14) stand at:

v  Gross Sales grew 10 % from INR 1681.89 cr to INR 1855.71 cr for the year ended March 31st 2014.

v  Operating profit (EBITDA) increased by 2.65% from INR 264.11 cr to INR 271.11 cr.

v  Building Products Division Revenue witnessed significant growth of 18 % from INR 746.55 cr to INR 881.02 cr.

v  Container Glass Division Revenue recovered well, ending FY’14 at INR 863.89 cr from INR 825.58 cr in FY’13.

Mr. Sandip Somany, Jt. Managing Director, HSIL, said, “The financial year 2013 – 14 has been phenomenal with our Building Products Division demonstrating a significant growth of 18%. The improved efficiency levels reflected quarter by quarter for the packaging products (Container Glass division) altogether enabled the company to post good returns.” He further added, “The year 2013 -14 has been challenging but we continued to focus on improving margins through better product mix, costs rationalization & improvement in plant efficiencies. Important announcements and launches in Tier II and III cities provided us with great opportunities and strengthened our distribution channel. We are happy with our stakeholders’ interest in the company. Moreover, our record growth reiterates the kind of trust our customers repose in us and we are elated to have positioned ourselves with successful financial results.”

The ‘modification’ of political climate in the country has the business community upbeat. The focus on improved public sanitation and plumbing will further enhance the industry benefitting both consumers and business alike. The company introduced over 25 new designs across the bathroom products category (faucets, sanitaryware) and installed a new faucet plant at Kehrani, Rajasthan with a production capacity of 2.5 million pieces per annum to boost its 4th position standing in the market at present. Luxury brand Queo from Barwood, UK also completed its first full year of operation receiving an encouraging response from the market.