HSIL ends FY’16 with sturdy performance

HSIL Limited, Sanitaryware, bath fittings and fixtures player and packaging products business on Tuesday announced its annual results for FY 2015-16. With, Gross Sales at Rs 2,042 crore and PBT up by 21.50 per cent, for the year ending March 31, 2016.

Sandip Somany, Joint Managing Director, HSIL Limited said, “The year 2015-16 was a year of strategic accomplishment for HSIL especially in terms of diversification into new business verticals and complete turnaround of our packaging division, while we continue to maintain focus on consistent growth in our building products businesses. A buoyant performance by building products division which grew by around 11 per cent is a combination of consumer faith, our robust brand and product proposition, our adaptability of the market dynamics.

According to a press release, the performance of building products division includes the development costs related to new consumer business which has already built a footprint of more than 250 distributors across India and 4,000 active sales touch points, which we intend to double in next one year. The products launched under the consumer business have been well accepted in market.

The release said, the packaging products division has shown one of the best performances with EBIT growth of around 35 per cent over last year. HSIL has now low leverage position wherein long term debt/equity is around 0.30 and company is now poised to take a leap ahead.

Overall, there will be sustained focus on improving sales and margins through better product mix, costs rationalisation and improvement in plant efficiencies, as well as new business development. We will continue to offer innovative solutions and manage our resources with prudence to touch the next level of product-process innovation’, he said.