HSIL Q3 EBIDA zooms 48%,Net Sales up by 38%. PAT grows 43%
For the quarter ending December 31, 2009, the company achieved EBIDTA of Rs. 38 crores, 48% higher than the corresponding period last year. The company's PBT (Profit Before Tax) for the quarter stood at Rs. 15 crores, 37.6% up from last year's Q3 Rs.10.9 crore. The Cash Profit for Q3 2009-10 stood at Rs. 27.7 crores, 63% up from the corresponding perdiod last year and the Profit After Tax (PAT)in comparison to previous year witnessed an ascent of 43%, at Rs. 9.97 crores.
Tweet-- India's leading sanitaryware and container glass manufacturer- HSIL Limited has reported a strong performance for third quarter ended December 2010. With Net Sales of Rs 216crores in Q3 2009-10,against Rs 160 crores in Q3 08-09, HSIL recorded an impressive 38 % growth and simultaneously a landmark achievement of crossing Rs 200 turnover in a quarter for the first time in its history.
A jubiliant Mr. Sandeep Somany, JMD, HSIL said "It is a proud moment for us as we celebrate a record quarterly turnover of Rs 200 crores for the first time in HSIL's history. We have surpassed our earlier performances and set more challenging benchmarks for ourselves. Our Q3 results reflect Hindware's remarkable resilience and illustrate the benefits of key strategic initiatives undertaken over the past couple of years. We have been able to deliver another solid quarter of strong earnings and improved operating margins."
For the quarter ending December 31, 2009, the company achieved EBIDTA of Rs. 38 crores, 48% higher than the corresponding period last year. The company's PBT (Profit Before Tax) for the quarter stood at Rs. 15 crores, 37.6% up from last year's Q3 Rs.10.9 crore. The Cash Profit for Q3 2009-10 stood at Rs. 27.7 crores, 63% up from the corresponding perdiod last year and the Profit After Tax (PAT)in comparison to previous year witnessed an ascent of 43%, at Rs. 9.97 crores.
Demonstrating the buoyant market and escalating demand for Hindware products, the Company registered a 42% growth in Earnings Per Share. "We are celebrating 48 years of consistent growth and business success, driven by innovation and operational excellence. Looking forward, we will remain focused on further strengthening our industry leadership, while continuing to improve efficiencies in our business. We will continue to innovate in all areas of our business - technologically-superior products, channel expansion, brand building, manufacturing excellence and financial management," added, Mr. Somany.
Hindware has recently been honoured with the prestigious Superbrand Consumer Validated Brand Award for 2009-2010 and the Golden Peacock National Quality Management Award 2010.
Notes to Editor
About HSIL:
HSIL Limited (formerly Hindustan Sanitaryware & Industries Limited) is the flagship company of the Somany Group and was established in 1962 in a joint with Twyfords, UK. HSIL is India's largest manufacturer of sanitaryware products with a significant market share of over 40% in the industry. Hindware products are available across the length and breadth of the country supported by over 1000 direct dealers and 12000 sub dealers. HSIL was the first Company in India to manufacture Vitreous China Sanitaryware. HSIL is also the second largest manufacturer of container glass and has two manufacturing facilities in Andhra Pradesh. It has recently announced plans to set up a faucet manufacturing unit in Rajasthan. The company owns the specialty home retail chain of stores by the name of Evok. Evok presently has 4 stores and plans to expand to 50 stores by 2015.