Leading sanitaryware player HSIL is eyeing an 80 per cent growth in its consumer product vertical and expects it to garner a revenue of Rs 700 crore in the next four to five years, a top company official said.
“Our consumer business is growing at 80 per cent. It is a new business we got into. We should close the year at Rs 220- 240 crore over last year’s revenue of Rs 130 crore from the division,” HSIL Vice Chairman and Managing Director Sandip Somany told news agency PTI.
The company is present in built-in kitchen appliances and claims to be the number three brand in the country in the category, and has launched water heaters, air coolers, water purifiers and air purifiers.
“The consumer products division will grow quite significantly and we are looking at revenues of over Rs 700 crore from the consumer business in the next four to five years,” he further told PTI.
Consumer products business is the fastest growing category for the company whose other verticals include glass and building materials.
HSIL which aim to grow at 10-12 per cent this fiscal, is also planning to enhance the capacity for its faucet and showers facility at Rajasthan.
“We have a plant in Rajasthan which makes 2.5 million pieces (faucets and showers) a year. The plant is now running at full capacity and in near future we will significantly expand that facility. We will raise the capacity initially by 50 per cent. The capacity will come on stream a year from now,” Somany told PTI.
The organised faucet market in the country is pegged at Rs 2,000-2,500 crore and HSIL enjoys a market share of 12 per cent at present and aims to have 14-15 per cent share next year.