¨Despite a tough environment, HSIL managed to keep its head above water.¨
- Sandip Somany, JMD, HSIL Ltd
The leading sanitaryware player in India and the second largest in ´container glass´ in the South, HSIL Ltd has a rich, 55-year legacy of serving the Indian consumer with innovation-driven products. From being the first to introduce vitreous China sanitaryware products in the country, the company´s honour roll gets longer by the year. -ôFY14-15 presented a tough economic and business environment, but HSIL as a company managed to keep its head above water,¨ says Sandip Somany, Joint Managing Director, HSIL Ltd. ¨Three steps undertaken by us were crucial to our growth.¨
The first step was the completion of the qualified institutional placement (QIP), raising Rs 250 crore, which reduced total debt by a quarter and strengthened the company to undertake the next phase of growth with a five-year horizon. The second was the establishment of Rs 120-crore Greenfield faucet plant with robotic technology in Kaharani, Rajasthan, with the capacity to manufacture 2.5 million pieces a year. And the third is celebrity endorsement to capture consumer attention - the company has signed on Bollywood A-listers for the first time, with Shah Rukh Khan endorsing premier brand hindware Italian Collection and Jacqueline Fernandez for luxury brand Queo. HSIL hopes to reap the benefits of these steps as it gears up for the future.