Hindustan Sanitaryware profit up 72.8% to Rs 10.68 crore in Q1
By Our Corporate Bureau | 12 Aug 2003
The company's gross sales for the quarter ended stood at Rs 71.95 crore, up 38.6 per cent from Rs 51.89 crore last year.
The glass container division of the company continues to experience explosive topline growth, leading to efficient plant capacity utilisation while the sanitaryware division also achieved higher sales due to a culmination of efforts and strategies employed.
Says HSIL joint managing director Sandip Somany: "The current year promises to be a rewarding one for us. While there has been continued emphasis on cost control, productivity and energy conservation in both our divisions, the substantial increase in operating profit is largely attributed to improved performance of the glass container division. This, coupled with the upswing in the sanitaryware business, has lead to improved profitability."
HSIL has changed the very dynamics of the sanitaryware business in India. It was the first company in India to manufacture Vitreous China Sanitaryware and today is the leader of this industry with a 41-per cent share of the market.
HSIL's flagship brand, Hindware, is the market leader in bathroom accessories. It has been acknowledged as India's No 1 sanitaryware exporter and has also received the prestigious Capexil Special Export Award — an honour bestowed for outstanding export performance in ceramics.
