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HSIL eyeing up to 15 pc revenue growth in current fiscal

Press Trust of India  |  New Delhi 

Home solutions provider HSIL is eyeing up to 15 per cent revenue growth in the current financial year as it undertakes a slew of initiatives to strengthen its manufacturing and retail presence.

The company had posted net sales of Rs 2,151.59 crore in the 2015-16 fiscal.

"We are looking at a growth of up to 15 per cent in the current financial year based on the initiatives we are taking," HSIL Vice Chairman & Managing Director Sandip Somany told PTI.

For this the company is planning to ramp up its retail presence across the country, he added.

"We have about 4,000 wholesalers and around 18,000 touch points with our customer. We will be adding to our distribution network," Somany said.

In next two years, the company plans to take the number of the 'concept stores' to around 400 mainly in tier I, tier II and some tier III cities, he added.

Bullish on the growth prospects, he said aspirations of people and economic activity in the country that is improving are the main drivers.

As part of strengthening manufacturing presence, HSIL is also planning to add two new facilities, both in Telangana, Somany said.

"The investment on the new plastic factory which will be commissioned in the next fiscal is around Rs 125 crore in the first phase," he added.

When asked about the mix of the sales for the company, Somany said: "75 per cent of our revenues comes from consumers and rest 25 per cent is through the developers."

HSIL Ltd, which has brands like 'Hindware' under its portfolio had also recently introduced water purifiers under the Moonbow brand under its consumer product business.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, October 18 2016. 19:22 IST