Sets targets Rs. 1000 crores by 2010
Hyderabad, January 30, 2007Riding on a comfortable 31 percent surge in net profit to Rs. 8.28 crore in the third quarter, Hindustan Sanitary ware and Industries limited, (HSIL) is planning to double its turnover in the next three years by organic and inorganic growth. It is targeting Rs. 1000 crore total revenue by March, 2010 and is actively looking at strategic acquisitions in India and abroad said the Joint Managing Director, HSIL Sandip Somany to the media.
In addition to the acquisition route, the company would put in place an organic growth strategy involving brownfield and greenfield expansion. He said that the company is fully utilizing the capacity of Bibinagar plant what had been upgraded of 18,000 tonne in March last year while the Haryana plant has been expanded to 2000 tonnes recently. The company plans to take the internal accrual and debt route to meet funds for the expansion. During the last fiscal, HSIL posted Rs. 438 crore in revenue.
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