Hindustan Sanitaryware & Industries Limited

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BSE Code: 500187       NSE Code: HSIL

Business Profile
Business Profile
Hindustan Sanitaryware & Industries (HINDSANI) is engaged in manufacturing and marketing of sanitaryware and container glass. The company, a Somany group flagship company, was set up in collaboration with Twyfords from UK in 1962.

The company operates in the business segments of sanitaryware and glassware.
The sanitaryware division offers products which incude sanitaryware (Italian, art, etc), bath fittings (faucets, showers, accessories, and addons), bathtubs and whirlpools (systems, multifunctions and massage tubs), bath concepts (shower enclosures, partitions, and panels), kitchen sinks (sinks and thrash masher), and kitchen appliances (hoods and hobs). Brand names include Hindware, Keramag, and Raasi. The glass division called AGI Glaspac manufactures glass containers and has a range of over 430 products in three colors.

The company has two manufacturing units at Bahadurgarh in Haryana and Bibinagar in Andhra Pradesh with combined capacity of 32,000 tons per annum. The company is expanding the container glass capacity at a new location to approximately 425 tons per day, to be completed by the first quarter of 2009.
The company is ISO 9001, ISO 14001, and OHSAS 18001 certified. It is recognized amongst the top 300 companies in the country and is also rated amongst the 100 best small and medium sized companies in the world by Forbes Magazine.

The company has strategic marketing tie-ups with international brands like Grohe and Keramag. It exports to the industrially-developed markets of UK, Australia and Scandinavia.

The registered office of the company is at 2, Red Cross Place, Kolkata, West Bengal-700001.

Financials
Hindustan Sanitaryware & Industries registered a sharp drop in net profit of Rs 64.4 million for the quarter ended June 2007 from a profit of Rs 76.5 million for the quarter ended June 2006.
Net sales rose 0.52% to Rs 1,170.6 million for the quarter ended June 2007 from Rs 1,164.5 million for the quarter ended June 2006.
Total income rose 1.56% to Rs 1,193.6 million for the quarter ended June 2007 from Rs 1,175.3 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 1.17 for the quarter ended June 2007.

Recent Developments
17-SEP-07
On Sept. 15, 2007, the board of directors approved the proposal for expansion of company`s container glass division for manufacturing glass bottles and jars at a new location in central Andhra Pradesh. The project with an estimated cost of Rs 2,100 million is expected to have capacity of approximately 425 tons per day. The project is expected to be completed by the first quarter of calendar year 2009. The expansion is a phased program to move the company`s glass container manufacturing operations from its current location in Hyderabad to the new location. The move will help reduce the costs of production as the new location is expected to have access to natural gas, which is cheaper fuel than heavy fuel currently used by the division. The expansion will also free up the approximately 33 acres of land in prime real estate of Hyderabad city (that it currently uses) for other more profitable uses. As the company is highly under-levered, the project will be funded through additional debt and through internal accruals.

Future Plans
The company, in order to modernize and expand its existing manufacturing facilities, will be investing Rs 60 million. Also, in order to intensify its reach it intends to focus on metros and major cities and increase its number of boutiques and arcades. It also plans to enhance its customer service by opening up more service cells for quick resolution of customer grievances.

Other Information
Annual Reports for Hindustan Sanitaryware & Industri
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