HSIL sets up plumbing pipes manufacturing facility in T'gana

Sanitary-ware maker HSIL said today it has ventured into the household plumbing pipes segment.
A manufacturing facility for plumbing pipes was inaugurated yesterday at Isnapur in Sangareddy district near here.
The company spent Rs 160 crore for setting up the facility and aims to add an income of Rs 800 crore from the plumbing pipes segment to the firm's over all turnover in the next five years, HSIL's vice chairman and managing director Sandip Somany told reporters here.
"Venturing into pipes segment is a natural extension of our product portfolio of bathroom product streams.
"We aspire to be among the top four brands in the country in the next five years and are confident of achieving this given that we plan to expand our pipes business by leveraging our current brand, sales and distribution network," Somany said.

The HSIL plant at Isnapur has a total production capacity of 30,000 metric tonnes.

There are plans to scale up the production capacity up to 60,000 MT by 2020 in order to emerge as a key player in the CPVC and UPVC pipes and fittings segment, he added.
Replying to a query, he said the company's board has approved a Rs 250 crore capex plan which will be utilised by the end of next year.
The company expects about 8 per cent growth in revenues during the current fiscal. Last year, it reported Rs 2,230 crore topline.