AGI GREENPAC LIMITED 
By PAT up 111 %; EBITDA growth 56%; SALES up 42%;
HSIL enjoyed strong achievements and bold results for the first quarter ending June 30, 2011. We are confidently moving towards our annual growth objectives and targets. The company achieved sales of 328 crores, 42% higher than the corresponding period last year. EBITDA of Rs. 63 crores, 56% higher than the corresponding quarter last year was achieved. Improvement of 190 basis points in EBITDA margin was observed through improved efficiencies, higher capacity utilization and better product mix resulting in better realization. Net Profit increased by 111% to 29 crores. Improvement in PAT margins by 309 basis points is the outcome of good cash generations, lower financial leverage and reduced interest costs along with operational efficiencies. We have continuously invested in developing new product designs with better aesthetics, launching environmental friendly and green sanitaryware products focusing on water conservation. These products received excellent market response besides winning us many Awards for Innovation and best Product Design. We will continue to focus on launching superior products, continue investing in our Brand and distribution network, improving plant efficiencies and effective financial management. During this Quarter, HSIL is delighted to be honored with the prestigious Award " PEAK OF Success" for its excellent business model, symbolizing superiority that is worthy of being imitated at an international level by World Confederation of Businesses in Italy recently. The SuperBrands Council of India chose HSIL Limited as a leading BUSINESS SUPERBRAND 2011 for the third time. Our flagship brand Hindware continues to garner accolades, the latest feather in our cap being the Star Brands Award 2011 and the Readers Digest Trusted Brand Gold Award 2011. Looking towards the future, besides increasing Sanitaryware capacities, HSIL is investing significantly on Brass Chrome Plated Bath Fittings (Faucets) with mission to become second largest player in Faucet market. The company launched Premium Faucet Brand ?Benelave?. Hindware Tiles which were launched around a year back under out-sourcing model selling only upper middle and high end tiles, received very good response from the market and is poised to grow significantly in the current year. The work on our expansion projects both in Sanitaryware and Container Glass are running on time and will be commissioned within time and total cost as originally estimated. The sanitaryware expansion at our Bibinagar Plant in Andhra Pradesh is expected to complete in Q2 of FY12 and the work on our new container glass plant at Bhongir, AP is on full swing and Plant is expected to commission in Q4 of this financial year. Furthermore, we continue to seek inorganic growth opportunities within India and abroad to further enhance shareholder value. This quarter, HSIL has entered into Share Purchase Agreement to acquire 100% stake in Garden Polymers Pvt. Limited. Garden manufactures PET bottles, caps and closures with two plants strategically located in Dharwad, Karnataka and another in Selaqui, Uttrakhand. The consummation of this acquisition is subject to fulfillment of conditions precedent and other legal formalities which are in progress and we expect to get ownership & control in Aug. 2011. This business is synergistic to container glass business of the company as end customers are the same. This business is profitable and has excellent growth potentials. HSIL targets to invest in this business to grow and make it significantly larger. The Company remains confident of consolidating its leadership position in Sanitaryware and also increasing its market share in Container Glass industry." added, Mr. Somany. Outlook for FY 2011-12 With all our sanitaryware and container glass plants currently running at full capacities and projected robust demand for its products in both the divisions outpacing supplies we are confident of achieving more than 30% growth both in sales and profits for the year as whole. To achieve this aggressive target, company had firmed up major plans for capacity expansion its manufacturing plants with the targeted Capex of Rs.650 crores which are expected to be completed as per projected schedule. About HSIL:HSIL Limited is the flagship company of the Somany Group and was established in 1960. This was the first Company in India to manufacture Vitreous China Sanitaryware. HSIL is India?s leader in sanitaryware industry with 40% share of organized market. Hindware Brand of the company enjoys Super Brand status and its bathroom ceramics, faucets and other allied products are available across the length and breadth of the country supported by over 1550 direct dealers and 12000+ retailers. HSIL is also the market leader in container glass in South India and the second largest market player nationally. The company has five manufacturing facilities in India across Andhra Pradesh, Haryana & Rajasthan For further information kindly contact: For Investors: Mr. Anil Chandani Ph: 0124-4779200 Email: anil.chandani@hindware.co.in For Media: Mr. V Krishnamurthy Ph: 0124-4779200 Email: vkmurthy@hindware.co.in Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. |
HSIL Limited : HSIL Q1 FY2012 Result Highlights
July 26, 2011 at 10:10 am EDT
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