HSIL eyes doubling building product sales to Rs 2k cr in 5 yrs

Sanitaryware manufacturer HSIL is looking to double sales to Rs 2,000 crore from its building product division in the next five years.
The company, which sells products under the Hindware brand, expects an increase in demand of premium products and consumption growth from tier 2 and 3 markets in coming years.
"The building product material division would double its business in the next 4-5 years. Currently, this is around Rs 1,000 crore," HSIL President, Building Products Division, Manish Bhatia told PTI.
The building products industry is growing around 8 to 10 per cent, while HSIL is growing between 14 to 15 per cent annually, he added.

"Bulk of this growth would come from premium tier as the consumers are upgrading and that is something Hindware can take advantage of," Bhatia added.
HSIL's building products division focuses on two areas -- bathroom and kitchen.

HSIL had a revenue of Rs 1,857.02 crore in 2014-15.
At present, 70 per cent of HSIL's business of building products division is coming from the retail segment and rest from institutional sales.
HSIL products are retailed at 19,000 points.
The company, which is running 125 showcase stores, is looking at a three-fold increase in the number over the next 2-3 years.
The company is also expecting exports to increase in the building product division, which presently contributes around 5 per cent of its total sales.

"We are looking to strengthen our presence in exports. It would remain as one of our priorities," he said.
The company sells its products in Africa, Middle East, Australia and some countries in Europe.