Hindustan Sanitaryware and Industries

NSE Announcements on Hind Sanitary

Posted by : MMB Messenger
Price when posted : [Hind Sanitary - BSE:Rs. 34.15 NSE:Rs. 34.55 when posted]

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Hindustan Sanitaryware And Industries Ltd has submitted to the Exchange a copy of the Proceedings of AGM of the Company held on September 04, 2008. The copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/CorporateAnnouncements....

New Acquisitions

Posted by : amikap
Price when posted : BSE: Rs 35.20 ( 0.57 % ), NSE: Rs. 35.30 ( 1.88 % )

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Chandigarh, Sep 17, 2008 (Asia Pulse Data Source via COMTEX) -- HIUSF | Quote | Chart | News | PowerRating -- To tap the growing overseas sanitary items market, sanitary ware major Hindustan Sanitaryware and Industries Limited (HSIL) is looking at acquiring a company in Europe which will be the its first ever overseas acquisition, if the deal goes through.
"We have identified three Europe-based companies for acquisition," HSIL Chairman and Managing Director R K Somany said here, without divulging further details regarding the possible size of the deal.

With the acquisition, the company would like to penetrate the European market and is hoping to utilise the latest overseas technological development in the field of sanitary products in its domestic operations.

"This acquisition will allow us the access to new technologies as well as new market," he said.

In the past, the company had gone for three domestic acquisitions including AGI, Raasi Ceramics and Krishna Ceramics.

The company is presently exporting its products to England, Australia, Scandinavia, America, Middle East, Asia and Africa and its exports constitutes 10 per cent of total turnover from sanitary ware business.

"We are now eyeing new export markets such as New Zealand, South America and Singapore which will boost our export business," he said.

HSIL, which sells its products under the 'Hindware' brand, has also decided to embark on capacity expansion programme by investing Rs 30 crore on increasing current production capacity at its Hyderabad plant during this year. "We will be enhancing our production capacity here in this plant from 14,000 tonne per annum (TPA) to 18,000 tonne per annum in order to cater to growing demand for sanitary ware business," he said. The company has its other plant in Haryana with a capacity of 14,000 TPA.

HSIL, which has 40 per cent market share in domestic market has set a target of achieving Rs 360 crore as sales from sanitary business compared with Rs 325 crore in 2007-08.

Against the industry growth of 10-11 per cent, the company hopes to continue with growth rate of 18 per cent this year as well, he said.

The company which has recently forayed into retail business has also planned to open 50 exclusive stores by the name of 'Evok' in the next five years. "We have opened our first store in Faridabad and the next two stores will be opened in Gaziabad and Gurgaon this year. We expect each store will achieve its break even point in 2-3 years," he said.

Evok stores will showcase contemporary products such as furniture, furnishings, bath products, modular kitchens, flooring, lighting and lifestyle home accessories sourced from China Taiwan, Italy and Spain....