HSIL in Rs 20cr expansion mode

Hindustan Sanitaryware and Industries Limited (HSIL), the promoters of Hindware Sanitaryware Products, is investing Rs 20 crore for increasing the production capacity of its Bibinagar plant in Andhra Pradesh.

Addressing a press conference, R K Somany, chairman and managing director of Hindustan Sanitaryware and Industries Limited, said, "At present, the installed capacity of the plant is around 14,000 tonnes a year. We would be increasing it to around 19,000 tonnes a year."

According to him, the expansion is expected to be completed by October this year. Apart from the plant in Bibinagar, the company has another production unit located at Bahadurgarh in Haryana.

"Once the expansion is completed, the total production capability of both the units would be around 34,000 tonnes per year," Somany added.

HSIL expects its turnover during the current fiscal to touch Rs 340 crore as compared to Rs 310 crore last year. The sanitary division contributes 45 per cent of the company's turnover while the rest is contributed by the glass division.

Somany said that the company is also bullish on the export market. "The company exports around 15 per cent of its production. Last year, the division contributed Rs 14 crore and this year we expect it to touch Rs 22 crore," he said.