HSIL eyes tile business

HSIL (formerly Hindustan Sanitaryware & Industries Ltd), the flagship company of Somany Group, one of India’s largest sanitaryware companies, has plans to venture into the tile business.

The company, which already boasts of wide range of sanitary and home appliances, is now eyeing the Rs-9,000 crore tile market in the country.

Talking to Business Standard, HSIL Ltd Vice President (Sales) Sanjay Kalra said by early next year, the company would be venturing into the business of tiles. “To begin with, the company will outsource tiles from dedicated resources and may look for separate manufacture facility after having attained sufficient volume of sales,” Kalra added.

The company would eye 4-5 per cent market share in the organised sector in the country’s tile industry in the next few years.The company recorded 54.82 per cent rise in Profit After Tax (Pat) in Q2 of FY 2009-10. Against Pat of Rs 5.91 crore in Q2 of FY 2008-09, the company announced a Pat of Rs 9.15 crorei in Q2 this year.