Bangalore: HSIL Limited , One of India’s leading sanitaryware player and second largest in the ‘container glass’ industry, today announced its financial results for the first quarter ended June 30, 2014.

Mr.  Sandip Somany, Jt. Managing Director, HSIL Limited, commenting on the results, said

“During the quarter, revenues of Building Products Division registered a 15.3% y-o-y growth while revenues of Packaging Products Division grew by 11.9% y-o-y. And, for the Company as whole we achieved a sales growth of 13.4%. The performance during the quarter is reflective of the progress on several strategic initiatives undertaken in FY 13-14.

We have a firm growth strategy in place which includes continued strengthening of our distribution network and retail presence in Tier II and III towns having population up to 75000. In addition, the newly formed central government’s plan to provide ‘housing for all’, develop at least ‘100 smart cities’,  and committed programs; such as the ‘Nirmal Bharat Abhiyan’, a demand-driven and people-centered sanitation initiative will infuse optimism for sanitary products’, he added.

The commencement of our Greenfield Faucet Plant with a capacity of 2.5 million pcs/annum in Kaharani, Distt. Bhiwadi, Rajasthan with effect from 1st July 2014 is a commendable effort and will be an added boost for the overall growth of the Faucet business as well as the company. We have one of the largest and strongest distribution networks of 15000+ retailers, 2900+ dealers and 19 service locations comprising 300 plumbers at 150 resident locations covering 600+ districts across industry. Apart from this, we have 458 hindware shop in shops and over 100 hindware Gallerias, direct dealer outlets to bridge the last mile connecting with the end consumer.

In this challenging environment, HSIL will continue to focus on improving margins through     better product mix, costs rationalization & improvement in plant efficiencies. Strong consumer demand & brand affinity, expanding network footprint reaffirms our ability to deliver consistent, competitive and profitable growth in both the divisions.